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Problems Initial Coin Offerings Cause Startups and Companies In Taxes & Accounting https://ift.tt/2pFwlA1 An Initial Coin Offering (”ICO”) is a controversial means of crowdfunding using cryptocurrency. Effectively, it is a way to obtain funding from the public without facing the legal barriers required by the Securities and Exchange Commission (“SEC”) in the United States or its counterparts in various foreign countries. This means that it is completely unregulated and that the risk is entirely on the individual who decides to invest or fund the ICO. It’s safe to assume that there is going to be rampant fraud involved in ICOs as 10% of all funds raised through ICOs were considered “phishing, Ponzi schemes and other scams” according to Cointelegraph. Ignoring the blatant cases of fraud, investing in an ICO means that you’re usually “promised” something but you have effectively no practical recourse for your investment. Common sense would dictate that you’re going to lose your money. That being said, I believe that everyone is allowed to invest in whatever they choose. Even the best Initial Public Offerings (“IPO”) can be questionable. Thus, if you decide to waive your legal protections offered by regulated markets, then I sincerely hope that you won’t cry foul when it doesn’t work out. For a startup or company that offers an ICO, the ICO is probably something that you’ll need to consider for accounting purposes. Deloitte has offered a “perspective” on the ICO and effectively said very little because no one wants to be tied down to an opinion, if they’re wrong. Thus, the question is what is an ICO for accounting purposes? Is an ICO Income? An ICO may be offered in exchange for services such as the offering provided by Filecoin. If you’re offering an ICO in exchange for service, then it is income – unquestionably. It is prepaid income for your company for services that you owe the owners of the coin. This is true, even if you have yet to produce a product to deliver. But, this does not guarantee that every ICO is treated as income. It depends entirely on how you’ve “offered” the ICO. An ICO may not be income, if your ICO was advertised as a loan. You didn’t offer or promise to provide a service in exchange for their funding. Your company asked to borrowing money to fund your company, thus you’ve incurred debt. Business via Forbes - Entrepreneurs https://ift.tt/dTEDZf March 25, 2018 at 09:29PM
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Bitcoin Ethereum And Litecoin Are The Most Popular Cryptocurrency Investments Among Millennials3/25/2018
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Bitcoin, Ethereum, And Litecoin Are The Most Popular Cryptocurrency Investments Among Millennials https://ift.tt/2I4IaGL Millennials love cryptocurrencies. For a couple of reasons. One of them is the technology behind them that promises to modernize capitalism, and free it from the tight control of big governments and big banks. The other reason is the potential cryptocurrencies have to make investors rich quickly, provided that they continue to rise at an astronomical pace. That’s why, among millennials, cryptocurrencies were a popular choice to invest $10,000 in, in a recent survey of 1000 Americans. Specifically, the survey found that 9.19% of millennials (18-34) would invest the $10,000 in cryptocurrencies, compared to 4.04% of Generation Xers (35-54), and (3.08%) of Baby Boomers (55+). What’s more interesting is that Bitcoin remains by far the most popular choice, followed by Ethereum, and Litecoin. Specifically, 76% of the millennials in the survey said that they would invest the $10,000 in Bitcoin, 12% in Ethereum, and 12% in Litecoin—see table 1. Table1 In Which Cryptocurrencies Millennials Will Invest $10,000
Source: LendEDU To a great extent, the survey results are as one might have expected. The survey rankings of major cryptocurrencies match their market capitalization rankings—see table 2. The only exception is Ripple, which is third in market capitalization, and nowhere to be found in the survey rankings. That means Litecoin is more popular than Ripple. Table 2 Business via Forbes - Entrepreneurs https://ift.tt/dTEDZf March 25, 2018 at 09:29PM
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People are freaking out that Facebook's Android apps collect call and text data — but Facebook says it got permission https://ift.tt/2G97evj AP
A report from Ars Technica corroborated McKay's findings not long after: under certain circumstances, Facebook's Android apps will keep logs showing the names of the people you called and texted, how long the conversation lasted, and the other party's phone number. McKay's original Twitter post has almost 40,000 retweets at the time of writing. Privacy fears around Facebook are at an all-time high following the Cambridge Analytica scandal, where 50 million users had their data used improperly by a political research firm. In response to reports over the weekend, Facebook published a blog entry giving its side of the story. First, Facebook says, it didn't do anything without permission. It says that keeping logs of call and text data is an opt-in feature on two of its Android apps: You get prompted to share that data upon installing Facebook Messenger, and the low-data Facebook Lite. Keeping those records "helps you find and stay connected with the people you care about, and provide you with a better experience across Facebook," says the blog. It also says that the data is not sold to any third party, and that Facebook doesn't read your texts or listen to your phone calls. Besides, says Facebook, it's not crazy to ask for access to your contacts: "Contact importers are fairly common among social apps and services as a way to more easily find the people you want to connect with." However, the Ars Technica report gives a little more reason for Android users to worry. Until Google instituted some changes in October 2017, allowing an app to access your contacts could also give it access to the kinds of call and text records in question in this matter. According to the report, all of the call and text records end in October 2017 — which suggests, but does not prove, that the main Facebook app for Android was taking advantage of that method to get the data. Also of note is that Apple's iOS, the operating system on the iPhone and iPad, doesn't allow that kind of access to call and text data at all without very specific permission. That means Apple fans don't have to worry as much about Facebook having call or text records. Facebook provides a tool to see which contacts have been uploaded to Messenger, which you can get to here. But it's a good reminder — if you're really concerned about online privacy, think twice about uploading your address book. Facebook did not immediately respond to a request for comment. Read the full Ars Technica report here. NOW WATCH: I quit social media for a month — and it was the best choice I've ever made See Also:
SEE ALSO: Facebook tracks a scary number of details about you — here's how to find out everything it knows Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 08:48PM
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Stormy Daniels says Trump told her 'you remind me of my daughter' after she spanked him with a magazine https://ift.tt/2G978nr Associated Press/Keith Srakocic
Daniels, whose real name is Stephanie Clifford, claims she had an affair with Donald Trump in 2006. According to Daniels, the two were introduced at a golf tournament in 2006 and then met in his hotel room. Daniels told "60 Minutes" that Trump began talking about a magazine he was on the cover of when she said, "Someone should take that magazine and spank you with it." Daniels alleges that Trump then turned around, "pulled his pants down a little," and that she "gave him a couple of swats." It was then that Daniels says Trump brought up his daughter, Ivanka. "He was like, 'Wow, you — you are special. You remind me of my daughter.' You know — he was like, 'You're smart and beautiful, and a woman to be reckoned with, and I like you. I like you,'" Daniels told Anderson Cooper on "60 Minutes." This appears to be the first time Daniels has publicly confirmed the interaction. In a 2011 interview Daniels mentioned Trump's obsession with a magazine cover he was featured on, and an adviser who worked with Daniels in 2009 told The Washington Post in January that one time Trump "had her spank him with a 'Forbes' magazine." But this isn't the first time that Trump has reportedly compared women he has had intimate relationships with to his daughter. Last week, former Playboy model Karen McDougal made a similar claim in an interview on CNN, when asked if Trump ever compared her to any of his kids. "He's very proud of Ivanka, as he should be. I mean, she's a brilliant woman. She's beautiful," McDougal said. "He said I was beautiful like her and, you know, you're a smart girl. And there wasn't a lot of comparing, but there was some, yes. I heard a lot about her. Yes." NOW WATCH: BILL BROWDER: How sanctions on Russia hurt Putin's closest allies See Also:
Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 08:48PM
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Stormy Daniels described the moment she was threatened in a Las Vegas parking lot and told to 'leave Trump alone' https://ift.tt/2ITmNt2 Matt Sayles/AP
The actress broke her silence on the affair in a highly-anticipated interview on "60 Minutes" that aired Sunday night on CBS. And she described in vivid detail the threatening encounter she said occurred in a Las Vegas parking lot in 2011. The adult-film star told Anderson Cooper she was on her way to a fitness class with her infant daughter when an unidentified man approached her. "A guy walked up on me and said to me, ‘Leave Trump alone. Forget the story,'" Daniels, whose real name is Stephanie Clifford, said in the interview. "Then he leaned around and looked at my daughter and said, 'That’s a beautiful little girl. It'd be a shame if something happened to her mom.' And then he was gone." At the time, Daniels had recently shared her story of the affair to a sister publication of "In Touch" magazine. But the story never ran after Michael Cohen, an attorney of Trump's, threatened to sue. Daniels said she was "rattled" by the man's comments and "absolutely" took them as a direct threat. When asked why she didn't report the man to the police, Daniels replied, "because I was scared." The White House has denied the affair, which Daniels said began in 2006 and lasted 10 months. But shortly before the 2016 presidential election, Daniels signed a non-disclosure agreement and accepted $130,000 in hush money from a company linked to Trump's personal attorney. Daniels sued the president earlier this month in California state court, claiming the agreement is not valid in part because Trump did not sign it. NOW WATCH: The racist origins of marijuana prohibition See Also:
SEE ALSO: Stormy Daniels said she was threatened to keep quiet on Trump in much-hyped '60 Minutes' interview Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 08:12PM
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Stormy Daniels: Here's what Trump said when I asked about Melania and newborn, Barron, just before the affair https://ift.tt/2ukFBOv Peter Kramer/Getty Images/for MSKCC
Cooper asked Daniels, whose real name is Stephanie Clifford, if Trump had mentioned Melania or his newborn son Barron, who was born in March 2006. "I asked," said Clifford, referring to Trump's family. "He brushed it aside, said, "Oh yeah, yeah, you know, don't worry about that." "We don't even — we have separate rooms and stuff," Trump added, according to Clifford. The adult-film actress claims she had an "intimate" relationship with Trump before he was president between 2006 and 2007. Clifford entered an agreement with Trump and his attorneys in 2016, in which she received $130,000 to stay silent about her accusations. Clifford is now seeking to void her "hush agreement" with Trump and has offered to return the $130,000 so she can speak publicly about her experience. Trump has not directly addressed Clifford's accusations, but White House press secretary Sarah Huckabee Sanders says he denies the claims. Trump returned to Washington from a weekend at his Mar-a-Lago resort in Florida, shortly before the Clifford's "60 Minutes" interview, according to People Magazine. Melania remained in Florida with son Barron. “The First Lady will be staying in Florida as is their tradition for spring break,” deputy press secretary Lindsay Walters said in a statement. Bryan Logan contributed to this report. NOW WATCH: Neo-Nazi groups let a journalist in their meetings and rallies — here's what he saw See Also:
SEE ALSO: Stormy Daniels said she was threatened to keep silence on Trump in much-hyped '60 Minutes' interview Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 08:00PM
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Grayson Allen's college career ended in brutal fashion when a game-winning shot just missed after rolling out https://ift.tt/2IRdUAf Nati Harnik/AP
The loss ended Duke senior guard Grayson Allen's storied career with the Blue Devils, and in heartbreaking fashion as he had the chance to become a hero, but came up just short. With less than 27 seconds left in regulation, with the score tied at 72, Allen took control of the ball and ran the clock down for the final shot. Allen made a series of moves before launching a contested, fade-away jumper from just below the foul line. The shot rolled around the rim and seemed ready to drop in before taking another bounce and falling out Overtime. In extra time, Kansas' defense choked Duke's offense, allowing just nine points and forcing a turnover. Allen went scoreless until hitting a desperation three with three seconds left to pull Duke within four. He finished with 12 points on 3-13 shooting, with four rebounds, four assists, and four steals. Allen may look to enter the NBA draft — ESPN's current mock draft projects him to go in the second round. Though Allen's final game ended on a disappointing note, he nonetheless had one of the more productive college careers in recent memory. Allen averaged 17.2 points per game over his final three seasons while shooting 42.8% from the field and 38.5% from three, all while taking on increased playmaking duties. Despite his productivity, Allen's career may best be known for a series of incidents in which he appeared to trip opponents, eventually earning a suspension from Duke. Unfortunately for Allen, he never got back to the national championship after his freshman season, and he was one unlucky bounce away on Sunday from becoming a Duke legend. NOW WATCH: Richard Sherman explains why he's working without an agent going into a contract year See Also:
Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 07:42PM
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Mobile Wallets And Tech-Savvy Youth Driving E-Commerce Growth In Vietnam https://ift.tt/2IU4aoL When it comes to e-commerce in the APAC region, no one beats China for volume and revenue. But China's e-commerce explosion spawned revolutions throughout the region, and the emerging markets of Southeast Asia are witnessing rapid online sales growth as well. "Asia has emerged at the forefront of the global digitalization trend, with rapid growth of e-commerce, cross-border e-commerce and innovation," says Miguel Warren, regional head of South East Asia, Payoneer Philippines. "The growth began with China ... Chinese merchants have been leaders in taking advantage of the marketplace model to go global." But Payoneer, a digital payments company, is casting its gaze on both China and its southern neighbors. In its recent report, "Digital Economy in Asia: Insider's Guide into the Global Opportunity," the company identified key opportunities in places such as Vietnam, Malaysia, Thailand and the Philippines. "Countries like Vietnam, and the APAC region as a whole, quickly moved to follow China’s lead. In the past couple of years, marketplaces like Lazada, Rakuten, Flipkart and Shopee have made it easy for Vietnamese merchants to sell online within the APAC region, and gave them the experience they needed to further expand around the world," Warren says. "As these e-commerce merchants have matured, it has led to the explosion of growth we’re seeing now." Vietnam shows particular potential in the e-commerce space because of its economics and manufacturing history, Warren says. "Vietnam has a strong culture and a lot of experience with manufacturing and exporting. The local businesses have the foundation needed to produce goods for a global consumer base," he says. He attributes Vietnam's e-commerce growth to two additional factors: high internet penetration and an expanding workforce.
Vietnamese officials predict that the country's e-commerce sector will grow 30-50% per year. Whether that prediction bears out, the appetite for online shopping is growing, and electronics and media and fashion will be key revenue drivers. A young, tech-savvy market that brings its own set of challenges In 2017, there were 53.86 million internet users in Vietnam, and predictions show that number reaching nearly 60 million in the next four years. The proliferation of mobile phones have accelerated e-commerce growth there and throughout the region. But mobile wallets play an integral role as well, particularly in developing markets where a high percentage of the population is unbanked. As of 2014, just 31% of Vietnamese held formal bank accounts, which can be a barrier to accessing goods and services. However, as Garena Group President Nick Nash told McKinsey, mobile and PC wallets make a world of difference to e-commerce growth in Southeast Asia. Even consumers who don't hold formal accounts can open a digital wallet and top them up via local vendors. The more e-commerce retailers that accept wallet-based payments, the greater access for Vietnamese consumers -- and the greater profits for the sellers. It helps that the Vietnamese population skews young. The median age was 30.4 in 2015, and young people here are increasingly educated, worldly and wired. That makes the country all the more attractive to online sellers. "Vietnam has a uniquely young population, and a very internet-connected one. This leads to consumers that are fast to adapt new trends and technologies, and tend to gravitate towards brands that are highly connected and engaged," Warren explains." Many are digital entrepreneurs themselves, and have an interest in moving the local business community forward." Nonetheless, Vietnam doesn't offer a straightforward highway to riches. Warren says that despite the enthusiasm of Vietnam's young and digitally engaged buyers, only 30% of internet-connected consumers have made online purchases. "The challenges and opportunities in Vietnam are closely connected," he says. "While the Vietnamese population is more comfortable with e-commerce than many other markets, it still has a long path of growth ahead." Part of that growth will be accommodating local payment preferences and overcoming consumer skepticism about product authenticity. "Brands that find success in Vietnam will have to put more effort towards building the trust of the consumer," Warren says. "There also need to be more investment into the logistics and payment infrastructure of the local market." To that end, Payoneer has been developing on-the-ground partnerships in the country with the goal of building a payment network on which both retailers and customers can rely. Vietnam still lags behind other markets in terms of e-commerce adoption and customer revenues. But with large e-commerce marketplaces such as Alibaba and Amazon continuing to make forays into the space -- not too mention the native company NextTech looking to compete for dominance -- it's clear that e-commerce's growth in Vietnam has only just begun. Business via Forbes - Entrepreneurs https://ift.tt/dTEDZf March 25, 2018 at 07:36PM 'There's no way' Stephen Curry plays in the first round of the playoffs after serious knee injury3/25/2018
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'There's no way' Stephen Curry plays in the first round of the playoffs after serious knee injury https://ift.tt/2pGSNsg Maddie Meyer/Getty Images
Stephen Curry will miss the first round of the NBA playoffs, Warriors head coach Steve Kerr said Sunday. "There's no way he's playing in the first round. There's no way," Kerr said, when asked if the Warriors were preparing for the possibility of going without their star guard to start the postseason. "He's being reevaluated in three weeks. So we gotta be ready to play without him and see how he's coming along." Kerr noted that missing a superstar entering the postseason was nothing new for the Warriors, as they had to play a stretch of last year's playoff run without Kevin Durant in the lineup. You can watch Kerr's comments in full below: Curry went down with a left knee injury on Friday in the third quarter of the Warriors game against the Atlanta Hawks. Warriors center JaVale McGee went up in an attempt to block an opposing shot, lost control in the air, and came down hard on Curry's left knee. On Saturday, Curry was diagnosed with an MCL sprain and ruled out for at least three weeks. The Warriors are currently in second place in the Western Conference and would host the Minnesota Timberwolves in the first round if the season ended today. But the fight for the postseason in tight in the West, with plenty of change possible before the playoffs are set. See Also:
Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 07:36PM
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Stormy Daniels refuses to rule out photo or video proof of Trump affair days after her attorney's cryptic tweet https://ift.tt/2pJINxU Joe Raedle/Getty Image
Stormy Daniels refused to rule out evidence of an alleged affair with President Donald Trump in an interview with "60 Minutes." Daniels, whose real name is Stephanie Clifford, claims she had an affair with Donald Trump in 2006. A decade later, toward the end of the 2016 presidential election, she signed a non-disclosure agreement and was paid $130,000 by Michael Cohen, Trump's personal attorney. The agreement reportedly required Daniels to turn over all "video images, still images, email messages, and text messages" relating to Trump. But when asked by CBS reporter Anderson Cooper if she did so, she didn't answer the question. "I can't answer that right now," Daniels said. When Cooper followed up, asking if she didn't want to say "one way or another," Daniels' answer was evasive. "My attorney has recommended that I don't discuss those things," Daniels said. Cooper also spoke to Daniels' attorney, Michael Avenatti, about potential evidence of an affair and asked whether he was bluffing. Just days ago, Avenatti tweeted a cryptic photo of a DVD or CD, suggesting it contained something of value. "If 'a picture is worth a thousand words,' how many words is this worth?????#60minutes #pleasedenyit #basta," he wrote on Thursday. Trump and first lady Melania Trump are not together Sunday, with the president returning to the White House late Sunday after a weekend at his Mar-a-Lago resort in Florida. "The First Lady will be staying in Florida as is their tradition for spring break," said Lindsay Walters, deputy press secretary. NOW WATCH: Here's why the death penalty and longer prison sentences don't really deter crime See Also:
Business via Business Insider https://ift.tt/eKERsB March 25, 2018 at 07:24PM |
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