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Last year, Cambridge Analytica was developing plans to raise money by issuing a digital currency and accompanying initial coin offering (ICO) before the firm became entangled in a scandal surrounding the misuse of Facebook users personal data, according to sources who spoke with Reuters. The British data analytics consultancy was looking to raise as much as $30 million, one of the sources said.
Brittany Kaiser, a former employee of the firm, said Cambridge Analyticas own digital currency was intended to help people store and sell their online personal data an ironic move from a company that has been in the headlines for obtaining the personal information of up to 87 million Facebook users.
Who knows more about the usage of personal data than Cambridge Analytica? Kaiser said. So why not build a platform that reconstructs the way that works?
According to Kaiser, the effort was overseen by Cambridge Analyticas British chief executive, Alexander Nix, who was forced out of the company in March after he was caught on tape bragging about his companys approach to political work, including the use of shell companies and strategies designed to entrap opponents.
The Facebook data scandal and Nixs comments appear to have put the digital currency program, which was still in the early stages, on hold though not before Cambridge Analytica approached a firm that advises companies on how to structure and run ICOs.
Prior to the Facebook controversy, we were developing a suite of technologies to help individuals reclaim their personal data from corporate entities and to have full transparency and control over how their personal data are used, a Cambridge Analytica spokesperson said in an email to Reuters. We were exploring multiple options for people to manage and monetize their personal data, including blockchain technology.
Many people often wonder if there are any development APIs and toolkits created for the bitcoin cash network so they can help develop some neat platforms on the BCH chain. Right now there are three useful resources for developers who want to build with the bitcoin cash blockchain. The bitcoin cash community is a very open atmosphere with more than six development teams working on the protocol, and in just a few short months there has been a slew of neat apps released using the BCH chain. One particular project created by the former Bitcoin Classic developer, Tom Zander, wants to progress the growth of BCH development in an accelerated fashion.
Today, April 17th, is tax day here in the U.S, but a significant number of investors have apparently not reported gains from digital currency trading to the Internal Revenue Service (IRS).
According to a survey from TeamBlind, the anonymous messaging app popular in fintech circles, 46% of people who made money trading cryptocurrencies in 2017 have chosen not to disclose their taxable profits.
We surveyed more than 2,600 users who said they earned money from cryptocurrency in 2017, and we asked them if they are reporting their earnings on their taxes this year. Nearly half said No, according to TeamBlind.
This information comes just a few days after Credit Karma, the popular credit score website and tax platform, reported that less than 100 people had reported their crypto earnings to the IRS out of the platforms 250,000 most recent tax filers.
Bitcoin multiplied in value more than 13 times last year, while the cryptocurrency market in its entirety gained well over $500 billion in value. As a result, U.S. households likely owe $25 billion in taxes for their digital currency holdings, according to estimates from Tom Lee, head of research at Fundstrat Global Advisors.
For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency, the agency said. According to the agency, digital currencies are liable for a tax as capital gain, meaning anyone who has taken out or paid for anything using cryptocurrencies are expected to report this information.
Looking back, for the 2015 tax year the IRS indicated that only 802 people had included cryptocurrency gains or losses in their tax filings. That said, because of the massive differences between 2015 and 2017 with regards to the popularity of the cryptocurrency space, comparisons are difficult to draw.
Russian communications watchdog Roskomnadzor tries to block Telegram app: dozens of unrelated services suffered network failures, Telegram still works. #NEWS
Cambridge Analytica, a British data analytics firm, was planning to raise as much as $30 million by issuing a new cryptocurrency through an ICO before it got swept up in a scandal surrounding the misuse of Facebook Inc. personal data, sources familiar with the matter told Reuters on Tuesday. Cambridge Analytica had approached a company Continued
The post Data Firm at Center of Facebook Controversy Planned $30 Million ICO: Report appeared first on CCN
Global digital security firm Avast will be demonstrating the risks posed to smartphones and IoT devices by cryptojacking. The company has a stall at the RSA 2018 conference being held this week and will be performing live demonstrations mining Monero.
The demonstration hopes to show people how malicious cryptocurrency mining can affect both their privacy and the performance of their infected devices. Ondrej Vlcek, the CTO, EVP and GM at Avast explained to Business Wire:
With the growing IoT landscape, PC users are no longer the sole victims of cryptomining malware. Now, IoT devices and smartphones are just as easily hijacked and turned into cryptomining machines and it doesnt matter if you own cryptocurrency or not.
The experiment itself invites visitors to the Avast stand to partake in a cryptomining challenge using their own mobile phones. Those involved will mine Monero on their devices. This will give them the chance to witness the affects of cryptomining in real-time. Theyll also be supplied with a power bank for when their battery inevitably gets depleted in considerably less time than it normally would.
As well as learning about the harmful affects of cryptomining on devices, users will be entered into a prize draw to encourage participation in the experiment. The winner will receive a Samsung Galaxy S9 fully kitted out with the latest Avast Mobile Security suite.
Identifying malware on mobile or IoT devices is troublesome for users. Since the software runs secretly in the background, they might attribute the decreased performance of their gadgets to faulty hardware. The increased computational demands placed on devices can result in high energy bills, poor performance, and a much shorter lifespan. It can also result in personal data breaches.
According to research done by Avast in March 2018, the risks posed by cryptomining are largely unknown by the public. They surveyed 2,300 computer users on the topic. The results found that a quarter of those polled didnt know what cryptocurrency was to begin with. A further two in five didnt know that malware could be used to mine digital currencies. Vlcek elaborated on the research and his companys experiment:
As part of an effort to protect cryptocurrency investors and
bring greater transparency into how cryptocurrency exchanges
operate, New York Attorney General Eric Schneiderman has sent
letters to 13 virtual currency exchanges requesting they disclose
key information about their operations.
With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money, the attorney general said in a statement today, April 16, 2018. Yet too often, consumers dont have the basic facts they need to assess the fairness, integrity and security of these trading platforms.
The letter was part of a Virtual Markets Integrity Initiative launched by Schneiderman to shine a light on the policies and practices of platforms used by consumers to trade virtual currencies and initial coin offering (ICO) tokens.
In addition to the letter, the attorney general sent a
questionnaire to Coinbase, Gemini, Bitfinex, Poloniex and nine
other exchanges asking them to disclose, among other things,
information such as what banks they use, how they hold customer
funds, what fees they charge, how they come up with those fees, how
they move funds around, who has access to the order books, and the
scope of third-party audits.
Gemini, an exchange operated by the Winklevoss twins, told Bitcoin Magazine, it applauds the attorney generals initiative and looks forward to submitting its responses to the questionnaire.
As the price of bitcoin crossed $10,000 for the first time in November 2017, reaching a peak of over $19,700 a few weeks later, a rush of new traders began entering the market. But, as many have learned the hard way, putting funds on exchanges comes with its own set of risks. Outside of the U.S., this year alone, Coincheck in Japan lost $530 million worth of NEM (XEM) in a hack; BitGrail, an Italian exchange, lost $170 million worth of Nano (XR...
Blockchain is sizzling amid escalating media hype about its vast potential applications in finance, supply-chain management, healthcare, and even the music business. Now, a trio of former Google executives have launched a new blockchain community whose goal is to develop and promote blockchain initiatives. The xGoogler Blockchain Alliance (GBA) is comprised of blockchain project managers, investors, Continued
The post Ex-Google Employees Form Blockchain Alliance As Cryptocurrencies Catch Fire appeared first on CCN
Sources say that Cambridge Analytica had consulted with a firm that advises companies on how to structure Initial Coin Offerings (ICOs). #NEWS
IMF chief Christine Lagarde has dedicated her latest two blog posts on the official IMF website to cryptocurrencies. In her latest post, she outlines multiple benefits of crypto and envisages a large-scale shift away from government-issued currencies towards cryptocurrencies.
The managing director of the International Monetary Fund (IMF), Christine Lagarde, dedicated a blog post on the IMF website to the benefits of cryptocurrencies on Tuesday. This positive post follows her other post last month which she outlined the drawbacks from her viewpoint. Citing that she previously looked at the dark side of crypto-assets, including their potential use for money laundering and the financing of terrorism, Lagarde proceeded to say:
Here, I want to examine the promise they [cryptocurrencies] offer. A judicious look at crypto-assets...
Bitcoin price dove below $7,900 on Tuesday after the New York Attorney Generals office announced that it had opened an inquiry into the cryptocurrency exchange industry. The flagship cryptocurrency had traded above $8,000 for most of the day, with many analysts arguing it would embark on a bull run now that tax season is coming Continued
The post Newsflash: Bitcoin Price Dives Below $7,900 after New York Opens Probe into Exchanges appeared first on CCN
While the exchange rate of Bitcoin stands at around $8,157 after the weekend, its about time to sum up all the versions. #FOLLOW_UP
New York States Office of the Attorney General (OAG) is requesting information from 13 cryptocurrency exchanges in attempts to improve transparency and accountability and help protect digital currency investors.
The initiative is meant to complement a first-in-the-nation licensing protocol established by New York States Department of Financial Services that requires digital currency trading platforms and other firms engaged in digital currency business activities to receive approval to operate and follow certain regulatory requirements.
Today, New York Attorney General Eric T. Schneiderman launched the Virtual Markets Integrity Initiative, an inquiry into the policies and practices of platforms used by consumers to trade cryptocurrencies. As part of a broader effort to protect cryptocurrency investors and consumers, the OAG sent letters to 13 major trading platforms requesting key information on their operations, internal controls, and safeguards to protect customer assets.
As the questionnaire explains more thoroughly, the initiative seeks to increase transparency and accountability as it relates to the platforms retail investors rely on to trade digital currency, as well as to better inform enforcement agencies, investors, and consumers.
With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Yet too often, consumers dont have the basic facts they need to assess the fairness, integrity, and security of these trading platforms, said Attorney General Schneiderman. Our Virtual Markets Integrity Initiative sets out to change that, promoting the accountability and transparency in the virtual currency marketplace that investors and consumers deserve.
As stated in the press release, the initiative stems from the Attorney Generals duty to protect consumers and ensure the fairness and integrity of financial markets. The questionnaires sent to the 13 exchanges ask the platforms to disclose information falling within six major topic areas, including: (1) Ownership and Control, (2) Basic Operation and Fees, (3) Trading Policies and Procedures, (4) Outages and Other Suspensions of Trading, (5) Internal Controls, and (6) Privacy and Money Laundering....
Pavel Durov is paying network administrators in bitcoin to bypass a Russian ban on Telegram.
Philippine Senator calls for tougher penalties for crypto-involving crimes, following local news of an alleged $17.2 mln Bitcoin scam. #NEWS
The potential effectiveness of Blockchain-based technologies doesnt come unnoticed by governmental bodies and private firms #ANALYSIS
Green bitcoin mining, using renewable energy to produce the cryptocurrency, is in vague across the world. And while generating hydroelectric power from dams have been more widely reported recently, solar power is gaining ground, as exemplified by 500 IPO entering the space.
SPI Energy Co., Ltd. (Nasdaq: SPI) today announced that its wholly-owned subsidiary, SPI Solar Inc. has signed an agreement with 500 IPO Fund for 5,000-unit contracts of Bitcoin miner hosting services. Officially based at Santa Clara, California, 500 IPO Fund is defined as a venture capital ecosystem, which consists of top venture capital firms, wealthy Chinese investors and powerful gov...
A Reddit post alleging that personal ID is now required on LocalBitcoins for high volumes has outraged some users of the platform. #NEWS
Cryptocurrency exchanges need to make transparency a greater priority, the New York Attorney Generals office said on Tuesday. Writing in a letter addressed to 13 cryptocurrency exchanges, New York Attorney General Eric Schneidermans office requests that companies provide information on a range of topics related to the operation of their trading platforms. Representing a technological Continued
The post New York Tells Cryptocurrency Exchanges to be More Transparent appeared first on CCN
Korean Blockchain Association announces self-regulation investigation for its member crypto exchanges in an effort to boost transparency. #NEWS
The trading volume for Tanzanian bitcoin pairings on Localbitcoins has spiked to establish a new record high this week. The sudden spike in volume has occurred after several months of increasing warnings regarding virtual currencies from Tanzanias central bank. Certain South American markets have also seen spikes in trading activity, with Peru and Vietnam also seeing record trading volume this past week.
Also Read: Bitcoin in Brief Tuesday: The Tax Man Effect
The Tanzanian peer-to-peer (P2P) markets on Localbitcoins have exploded this past week, with the markets producing record trading volume approximately three times that of its preceding fiat-valued volume record.
The future has come, says adult entertainment site Pornhub in reference to new ability to pay for services in Verge #NEWS
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
by Faith Obafemi
The analog life is no longer appealing. We all now wish for the smart, digital life to make everything easier, less expensive to manage and convenient. In a time when weve got smartphones, smartwatches, smart fridge, smart grids, smart TV and smart homes, why cant we have a smart city?
Dubai will be blazing the trail as it becomes the first smart city running on blockchain and smart contracts. Imagine a city which is not only connected to the internet, but also smart enough to process activities like visa applications and reach intelligent decisions. For a frequent business traveler, the long wait at the embassy will become history. Robotina, a Slovenia-based company, providing comprehensive automation solutions with an IoT focus, will be playing some big roles and laying down the tracks in this innovative transformation.
Ultimately, the goal is to have a city where activities are synchronized, making transactions within and without faster, with minimized errors and most especially, secure framework.
Robotina and its decades of operation in IoT industry
In operation since the 1990s, Robotina has a track record of successful projects in the AI, machine learning and IoT industry. The company has over 50 international employees spread across offices in each continent, and rendering smart services in over 27 countries. Robotinas portfolio includes: manufacture, distribution, support and service for automation components and electronic devices.
One notable project in this regard is Robotinas strategic partnership with Imdaad as far back as 2014. The partnership tasked Robotina with the duty of implementing Imdaads Network Operations Centre (NOC) project in the agencys headquarters. Robotina was to commission the NOC project whose purpose was for remotely managing and monitoring other facilities under the operation of Imdaad. All materials and equipment needed for construction was to be supplied by Roboti...
Privacy-based cryptocurrency Verge (XVG) has announced today that theyve partnered with Pornhub. The move means that users can now pay for premium subscriptions using an anonymous cryptocurrency.
The partnership has been teased for weeks now. Earlier in March, Verge were slated for their appeals to users to contribute $3 million to reveal the name of the company theyd be working with.
The announcement of the Pornhub partnership was initially penned for late March, it was then postponed until April 16 and finally the 17th. However, earlier today, both Verge and Pornhub officially acknowledged the deal. The Next Web reported Corey Price, Vice President of the adult entertainment website, comments on the move:
Here at Pornhub, were all about convenience and security, which makes cryptocurrency an attractive form of payment for us Weve been looking at crypto for quite some time and, while overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.
Meanwhile, the publication reported on Verges founders own take on the partnership:
This partnership represents an enormous market with a global reach that will compete with fiat currencies Its huge for Verge and were extremely excited to finally be able to announce it.
According to a Medium blog post by Verge, the privacy-centric startup will use the capital raised by the controversial funding round in March towards successfully launching payments on the Pornhub platform, marketing, and hardware wallet integration. However, Ledger Tweeted earlier that they had not yet heard of these plans:
Except there is no partnership nor planned integration with us.
Fred de Villamil // Ledger (@fdevillamil)...
New York's attorney general is taking a closer look at some of the most well-known cryptocurrency exchanges.
Verge have been hyping the announcement of their new mystery partner for days, with the initial date pushed from yesterday to today, 17 April. After recent controversy over allegations of paid price pumping and issues with the Wraith Protocol, not everyone in the market reacted well to Verge asking for a crowdfund of 75 million Continued
The post Worlds Biggest Porn Site Pornhub Partners Verge to Accept Crypto XVG appeared first on CCN
International insurance broker Marsh is working with IBM
to develop a commercial blockchain solution that will allow
businesses to certify that the contractor they are about to hire
has the proper, up-to-date insurance coverage necessary to begin
The solution will be built on Hyperledger Fabric, an open-source permissioned blockchain framework, using IBM Blockchain Platform, a cloud-based blockchain application development solution, Marsh said in a statement yesterday, April 16, 2018.
Insurance standards organization ACORD will provide input on the project, and Dallas-based ISN Software Corporation, which supplies contractor and supplier management services, will be the first client to use the new solution.
Marsh is aiming to solve an important problem. Businesses often hire contractors, vendors and other third parties to work for them or provide services, but before doing so, they need to know that the vendor has proper liability insurance, so the business is covered in the event something goes wrong or a vendor performs substandard work.
Typically, a client will request a certificate of insurance (COI), also known as an ACORD certificate, which is a document that has all the information on it to show a client has up-to-date insurance coverage. The problem with PDFs or paper documents is they can be faked. Documents can can also get misplaced, lost or damaged.
Blockchains, on the other hand, are nearly impossible to tamper with. By putting proof of insurance on the blockchain, parties that need evidence of insurance can ideally trust the coverage is up to date and historically correct. Marsh said it expects its blockchain solution to allow clients to speed up necessary business functions such as hiring contractors and transferring risk, while increasing coverage certainty.
Marsh sees great opportunity in leveraging blockchain technology to better serve our clients by maximizing efficiency and creating new opportunities in the insurance value chain, said Sastry Durvasula, chief digital officer at Marsh.
Sandip Patel, general manager, insurance industry, at IBM, believes that simplifying the insurance verification process is a key business enabler. This is an ideal...
Crypto markets rebound after slight losses yesterday, as more institutional money and talent move into the industry #NEWS
Heres a question. How many active users does CryptoKitties, one of the most well-known decentralized Ethereum applications (DApps), have? The answer is probably a lot less than you think. The game, originally created by Canada-based venture studio Axiom Zen, burst onto the DApp scene last year, and in almost no time at all the game Continued
While the big banks are usually very skeptical of bitcoin in public, below the radar they could all already be making plans to gain a foothold for themselves in the ecosystem. The latest example is Barclays that is reportedly asking clients about a possible move into the crypto trading space.
British banking giant Barclays (LSE: BARC) is supposedly considering launching a cryptocurrency trading desk. The bank is trying to figure out if there is enough demand from its clients including hedge funds, big investors and the like for it to enter this new line of business. This would make Barclays the first major bank in London to offer such a service.
Although the bank says it still has no specific plans to launch a cryptocurrency trading desk, sources have revealed it has conducted a preliminary assessment of de...
Harbors Blockchain securities tokenization nets $28 mln in new funding from big VC names #NEWS
A New York resident has been indicted on fraud charges for tricking residents into investing in worthless binary options and a proprietary token.
Verge's XVG token is fast losing altitude after today's Pornhub partnership announcement.
New York Attorney General Eric Schneiderman has launched an investigation into cryptocurrency exchanges in the hopes of providing transparency and accountability to a marketplace that frequently operates in a black box. The AG has sent letters to 13 major virtual currency trading platforms, asking for information about their operations, internal controls, and consumer protections. Platforms
New York Attorney General Eric Schneiderman has launched an investigation into cryptocurrency exchanges in the hopes of providing transparency and accountability to a marketplace that frequently operates in a black box.
Cryptocurrencies are growing on IMF Chief Christine Lagarde. The bitcoin price is trading in the green again today and oddly enough may be getting some of its lift from some positive remarks from Lagarde, who is at the helm of the International Monetary Fund (IMF). Her message to the world is that crypto-assets do not pose an immediate Continued
The post IMFs Lagarde Calls for Open-Minded, Even-Handed Cryptocurrency Policies appeared first on CCN
Application of blockchain technology has gone far beyond the financial industry. Today, many companies in a wide variety of industries are testing the potential of this innovation to streamline complex processes and transactions, making them faster, cheaper and more transparent. The telecommunications industry is no exception and industry players are now considering how blockchain can impact their businesses. EncryptoTel, an intriguing implementation of these new technologies, offers privacy-oriented encrypted audio and video calling for individuals and groups through its secure blockchain-based communications infrastructure.
EncrpytoTel: an undervalued startup
Despite this, EncryptoTel Tokens (ETT) are currently traded at a significant discount to the original sale.
EncryptoTel: Background and strategic partnerships
EncryptoTel is backed by industry veterans and professionals in the telecoms industry. The team successfully conducted their crowdsale on the Waves Platform, exceeding their target investment. They have been involved in the development of blockchain-driven cloud solutions for over six months now, creating a decentralised telecommunications infrastructure. This solution will be available for both corporate and individual users, on multiple platforms including Android and iOS.
EncryptoTel has entered into an agreement with the Russian federal telecommunications operator Mtel Ltd. regarding a strateg...
Blockchain's new hire oversaw Goldman Sachs' relationships with institutional clients managing $1.49 trillion in assets.
Adult entertainment website Pornhub has announced that it will begin accepting the cryptocurrency verge as payment.
Just a few weeks ago, the Zimbabwean cryptocurrency exchange Golix gained its first national competitor when Styx24 opened its doors online. Almost simultaneously Golix introduced a Bitcoin ATM to its customers, accessible inside their offices in central Harare.
Few countries have seen harder times economically, fiscally, and monetarily than Zimbabwe. No wonder Bitcoin proponents have an easy time explaining Bitcoins...
South Korea banned initial coin offerings (ICOs) in September 2017. Market watchers in the country have been since calling for a lift of the ICO ban in order to finance the development of blockchain projects. The ban on ICOs, however, is failing to produce the desired results as blockchain-based startups in South Korea are going around the legislation by raising money through initial coin offerings overseas.
In response, the country is reaching out to Japan and China to explore regulatory cooperation within the Asian market. South Koreas Financial Supervisory Service has also asked companies within its jurisdiction to report on their overseas ICOs.
The rise of foreign-issued cryptocurrencies seemed to be inevitable for many as the market adapts to regulation by looking elsewhere to raise funds. About a dozen South Korean companies have done ICOs overseas already, including an affiliate of corporate giant Hyundai Group, one of South Koreas largest conglomerates, which has launched the Hdac coin, in Switzerland.
Medibloc, a redistribute scattered healthcare information startup, raised $21.2 mi...
A senior Ripple official has called on British regulators to revisit their wait and see approach to cryptocurrencies and called for new rules introduced by the likes of Japan. While cryptocurrencies are commonly seen as financial instruments meant to circumvent governmental controls or oversight from central banks, Ripple (XRP) the worlds third-largest cryptocurrency with Continued
The post Ripple Wants Governments to End Wild West Era of Cryptocurrencies appeared first on CCN
100 years ago, during World War I, the U.S. Congress passed the Espionage and Sedition Acts of 1918. Wartime censorship was broadly applied and anything that cast the government or the war effort in a negative light or interfered with the sale of government bonds could land you in jail for years. The act was [...]
Former Goldman Sachs exec takes new role at crypto wallet Blockchain.info as part of their strategy to attract institutional clients #NEWS
Bank of Japan will not be issuing its own digital currency for now, but says it is open to applying emerging innovations in the future. #NEWS
Discover Financial Services has joined the Chamber of Digital Commerce to assist the group's mission of blockchain education and advocacy.
In the history of investing or speculation, there has been no asset with a higher degree of volatility than Bitcoin. What started out as a simple idea written on a white paper by Satoshi Nakamoto has become a global phenomenon for investors from all walks of life. Even at todays price of $8000, Bitcoin has registered a gain of 266,666,566% from its low price of $.003 in March 2010.
While many have gotten rich off Bitcoin and many others have left a fortune on the table by getting out too early, others have simply stayed on the sidelines due to Bitcoins price volatility. Since January 2012, Bitcoin has crashed over 50% on five separate occasions. These extreme moves and the lack of a hedging instrument have made many mere spectators.
While we wont say the volatility will calm down, there is at least now finally a hedge for Bitcoins volatility. The solution is ODUWA COIN.
ODUWA COIN is a Nextgen cryptocurrency that offers indemnity and insurance against the volatility of the cryptocurrencies listed on the platform. This is achieved by combining Blockchain technology and insurance to give investors a way to insure themselves from losses in the cryptocurrency market.
The financial experts behind ODUWA understand investors concerns that investing in cryptocurrency is an enterprise with high risk considering its digital nature that is always prone to hackers, volatility and high uncertainty within the coin market. ODUWA aims to counter these problems through an intelligent solution, which involves selecting coins to insure, keeping a proportional reserve to the invested amount, and automated smart contracts.
The goal of ODUWAs volatility insurance offering is to protect investors, utilizing a contract, against losses in leading, high-quality cryptocurrencies such as Bitcoin, Ethereum, Dash, Monero and ODUWA COIN. The list is expected to grow in line with the platforms journey to maturity.
When investors put money into any of the cryptocurrencies that are on the platforms approved list and if they select the insurance option, then ODUWA COIN guarantees that the particular investment is covered against loss through an insurance contract, for the period stipulated in the contract. The insurance coverage comes for free to the investor, based on the understanding that, if the value of the cryptocurrency falls during the contract period, then ODUWA absorbs and covers the loss; while, at the same time, if the investment value rises, then ODUWA shares in the profit.
Investors can also choose from a range of insurance...
South Koreas ban on ICOs may have slowed things down, but it hasnt completely stopped the flow of new digital coins on local exchanges. South Korean startups have not shut the door on this fundraising method, despite the ban, and are instead domiciling their initial coin offerings abroad and then listing their digital coins on Continued
The post Blockchain Startups Leapfrog South Koreas ICO Ban to List Coins appeared first on CCN
Cryptocurrency exchange Kraken is suspending all of its services to Japanese residents. The exchange has been allowed to operate in Japan while its application with the countrys financial regulator is being reviewed.
Kraken announced on Tuesday the suspension of its services to Japanese residents. The exact dates for suspending trading and funding have not yet been determined, the exchange wrote, adding that tentatively the last day for deposits is around mid-May, the last day for trading is around mid-June, and the last day for withdrawals is around end-June. Kraken elaborated:
This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan. Clients residing outside Japan who have access to our Japan banking partne...
Cognizant has partnered with a group of Indian insurance firms to develop a blockchain solution for cross-company data sharing.
Tax Day in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum.
The cryptocurrency market has been hungover ever since Bitcoin entered the futures trading market in December 2017. The downward path in 2018 removed the majority of its market cap, from about $826 billion to $330 billion today. Bitcoin had a similar fate as its market cap plunged from $324 billion to $138 billion, and its price shed $12,000, from $20,000 to about $8,000. Today, however, is Tax Day in the United States.
The IRS says cryptocurrencies constitute property, which is subject to capital gains tax. Institutional investors argue that Tax Day is the trigger of the new bullish run.
Tax-selling has been a significant factor in downward crypto prices over the past few weeks. I would expect this downward pressure to abate after tax day,
Blockchain Capital co-founder Spencer Bogart told CNBC.
The 1,300 percent upward move seen in the Bitcoin price chart should result in $25 billion in taxes for digital currency holdings in the United States, according to Tom Lee, Head of Research at Fundstrat Global Advisors. Lee says that U.S. households captured 30% of the $590 billion capital gains from cryptocurrencies in 2017. The tax rate of 27% on a $92 billion taxable gain means that U.S. holders owe $25 billion.
On April 15, Tom Lee said that Bitcoin may be bottoming;
CRYPTO: Where was #BTC 1M prior to ~$20,000 top? $5,900. In other words, BTC this year rollbacked prices similar to what happened in 2014/15. Could be same bottom as the 2014/15 bottom. Also, selling related to capital gains taxes in US should be lifting as tax day is 4/17. pic.twitter.com/AyOgKPoR2x
Thomas Lee (@fundstrat)...
A senior official at Hong Kongs securities regulator has, once again, reminded the public to be cautious of investments in initial coin offerings (ICOs). In a speech on new technologies on Friday, Hong Kong Securities and Futures Commission (SFC) deputy chief Julia Leung reiterated previous concerns of risks associated with initial coin offerings. While we Continued
The post Many ICOs are Dubious, Downright Frauds, Says Hong Kong Regulator appeared first on CCN
Koreas third largest crypto exchange, Coinone, goes global with its launch of Coinone Indonesia. #NEWS
The cryptocurrency ecosystem has found an unexpected backer in the International Monetary Fund. The organization is asking the worlds central banks to be open-minded about digital money as they should distinguish between real threats and needless fears.
Christine Lagarde, Managing Director of the International Monetary Fund, took many in the financial system by surprise with a recent blog post where she seems to be on the side of cryptocurrencies when it comes to the recent overreaction by some central banks, including India and Pakistan. The IMF wants to offer its 189 members advice and serve as a forum for discussion and collaboration in the development of a consistent regulatory approach;
Policymakers should keep an open mind and work toward an even-handed regulatory framework that minimizes risks while allowing the creative process to bear fruit
With over 1,500 different digital coins and tokens in circulation, financial regulators feel pressured to allow the blockchain technology to develop while being threatened by cryptocurrency trading without the oversight of a central monetary authority. The IMFs annual spring meeting in Washington is this week included the hot topic for this year the cryptocurrency market.
According to Coinmarketcap, the total market cap among the 1568 cryptocurrencies spread in 10327 markets is over $300 billion, which is about 4.8 percent of the worlds foreign exchange reserves.
Last week, IMFs Lagarde told Hong Kongs South China Morning Post that the industry is something which is developing fast, is highly volatile, with benefits and downsides.
Firstly, the illicit use of digital currency plus abuse of consumers financial illiteracy must be guarded against. Secondly, innovations from the use of digital mechanisms need to be explored and encouraged. So its a combination of having a framework that protects, and not stifling innovation, that can lead to cost efficiency.
A preliminary assessment made by the IMF concluded that while assets tied to cryptocurrencies dont pose an immediate danger to the global financial system because their footprint is...
One of the worlds largest investment banks is quietly holding high-level discussions about establishing a dedicated cryptocurrency trading desk. Bloomberg reports that Barclays Plc, the second-largest bank in the UK, has begun gauging client interest in setting up a cryptocurrency trading desk. The discussions are still preliminary, sources say, and the bank is attempting to Continued
The post UK Banking Giant Barclays May Open a Cryptocurrency Trading Desk appeared first on CCN
The Bitcoin price saw a moderate bounce on Tuesday, as the impending conclusion of tax season in the US suggests that an important source of sell pressure will be eliminated from the markets. As CCN reported, many analysts attributed the first-quarter sell-off in part to the fact that traders and investors were forced to sell Continued
The post Tax Day Bounce? Bitcoin Price Crosses $8,000 as Sell Pressure Fades appeared first on CCN
U.S.-based cryptocurrency exchange Kraken has announced it is shutting its doors for investors in Japan, citing operational costs.
Moodys report: less expensive cross-border transactions powered by Blockchain tech have the potential to hurt the Swiss banking industry #NEWS
Tokenized securities startup Harbor has secured $28 million in funding from major Silicon Valley venture capital firms.
Japan is a very important country to cryptocurrency companies. With its open-minded regulation and positive approach to cryptocurrencies, there are a lot of benefits to this region. Surprisingly, the Kraken trading platform is ceasing its service in Japan very soon. This sudden decision is the direct result of rising costs associated with offering services to local customers.
This decision by Kraken comes as a big surprise to most cryptocurrency enthusiasts. The company is one of the few Western service providers offering services in Japan as of right now. That situation will soon change, allegedly due to rising costs of doing business in Japan. This decision is not necessarily permanent, as the company may come back in the future.
Considering how the company has been active in Japan since October 2014, Kraken had plenty of time to evaluate its position in the market. Suspending the services in Japan will let the company provide better focus on other geographical areas. Which countries those will include, remains to be determined. Kraken also confirms this temporary suspension only affects residents of Japan.
It also appears Kraken isnt the most popular trading platform in Japan. Its BTC/JPY pair accounted for 0.07% of the companys overall trading volume in the past 24 hours. The company also provides an ETH/JPY pair, which is even less popular. There are dozens of exchanges active in Japan who also provide access to both Bitcoin and Ethereum in exchange for the Japanese Yen.
Unlike most other exchanges, Kraken is allowed to operate in Japan without a license. As such, the company is a bit of an odd creature in the country. It is this lack of oversight which may hurt the platforms popularity as of right now. The exchange will remove its services from the country by the end of June 2018.
As is always the case, speculation runs wild when news like this is made public. Considering Krakens position in the ongoing ......
The Philippines Securities and Exchange Commission has advised the public against social media offers to invest in cloud mining contracts and has warned unregistered solicitors they face imprisonment under Philippines law. A government investigation has determined that certain parties offering such contracts define cloud mining as a process for acquiring cryptocurrency by using shared mining Continued
The post Philippines Warns Against Cloud Mining Contracts, Threatens to Jail Unregistered Solicitors appeared first on CCN
Dont fall for crypto-euphoria but look at potential benefits, says IMF chief Lagarde. #NEWS
The technical charts remain bullish for bitcoin and point to $7,900 as the key support zone.
Cryptocurrency payments are going to be trialed in one of Europes biggest shopping malls within days #SPONSORED
South Koreas third-largest cryptocurrency exchange, Coinone, has set up in Indonesia bucking the trend of exchanges either branching out or going under in the hard knocks market.
South Korea was one of the bellwethers of the cryptocurrency market last year with one in five bitcoin transactions being handled in KRW even though it traded at a 20% plus premium. Today though despite it still being one of the largest spaces in the market, severe regulatory practices have reduced trading to only 5 -10% of what it was in January.
According to Business Korea the squeeze on the market since January highs has caused some Korean exchanges to either expand their service base or shutter their shops. Coinone, Koreas third largest exchange, has decided to pack up and go overseas. The company announced that on April 16 Coinone Indonesia was entering the global cryptocurrency market. Based in Jakarta the company has submitted its preliminary registration and plans to start providing services to registrants from the end of May.
Coinone announced on April 16 that the company has made its entry into the global cryptocurrency market, establishing Coinone Indonesia in Jakarta. After the first preliminary registration from this date it plans to launch the service to registrants by the end of next month. Trading will be made available in 6 cryptocurrencies initially; Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Qtum.
With a population of 260 million Indonesia has the largest population in Southeast Asia and, according to a previous report on NewsBTC , INDODAX the largest Indonesian cryptocurrency exchange which is set to overtake the Indonesian Stock Exchange in investor numbers.
Despite the diminished trading volume in South Korea since January, a re-launch in Indonesia which is experiencing its own regulatory growing pains is a bold move for any exchange looking to expand into the global market.
Bank Indonesia announced it does not recognize any digital currency as legal tender earlier this year, compelling all parties to avoid owning, selling or trading in them. This has paved the way for the kind of regulatory struggle which has been enacted ac...
Bitcoin in Brief continues with the second day this week of mostly FOMO news. The biggest economy in the world faces the tax man today, as the United States and its crypto enthusiasts must atone for the sin of last years gains. Economists and market bulls are insisting that this fact caused dramatic sell offs, leading to haircuts across the board. Bulls believe, after today, prices ought to soar.
Once again, we get another chance to test the predictions of a much cited financial professional. Were, of course, focusing on cryptos favorite guru, Tom Lee of Fundstrat.
He was seen recently on Fast Money, making his case for why the ecosystem should prepare itself for the potential of incoming cash tsunamis, as this years US tax deadline is upon us today. I...
A month ago we have shared our negative experience with Giga Watts Miner Hosting Services and we just wanted to update you on the topic and still warn you to stay away from their miner sales and hosting services. Our December and January batches of miners that we ave paid for back in November last year are still not deployed and not working and up until a few days Giga Watt was still selling new mining hardware for who knows when to be deployed (they have apparently stopped). Our disappointment with their services continues and it will get even worse for sure ad they are just delaying and delaying month after month
The WTT tokens are a bit better, but our disappointment extends there as well. There is still no price-varying real market for renting the tokens (you cannot use the tokens when your miners do not get deployed for month already). You still need to rent out all your tokens and you cannot rent them all even at the lowest price, so you are loosing on that as well no matter how much tokens you get you can rent maximum about 70% at the lowest price or less if you increase the price. Recently the company has risen the prices for electricity with 20% in favor of the token holders, but nothing really changes that much, at least your tokens should earn you a bit more. So we would also recommend not to go investing in WTT tokens now as well.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
On May 10, 2018, the pre-ICO of the new social network Monoreto starts. The project introduces a blockchain, which will help social network users to monetize their content and their interactions with each other. This social network can disrupt the media landscape: any user will be rewarded, and influencers will get more opportunities for development.
The revenue of social networks depends on user data: content, history of actions on the network and their interactions with each other. The developers of the network do not produce those products. They just support the platform, store user data and sell network audience to advertisers.
Although users create content and share their valuable data, they do not receive revenue and even become objects of manipulation. They miss important and interesting information from their friends in their feeds. Instead, they find ads and posts sponsored by brands. Popular authors also promote goods and services explicitly or in a hidden manner. A survey conducted by Harris Insights & Analytics (Harris Poll) shows that in the 16-19 and 20-39 age groups, 74% of people dont want to see messages from brands in their newsfeeds. Over a half (56%) of users became less active in social networks or completely left services because of excessive advertising.
The social media crisis is obvious: users are disappointed because they do not get what they want, content authors do not receive the fair reward, and advertisers pay for annoying ads, which does not sell.
Monoreto, the next generation social network, introduces an innovative solution. The blockchain technology will help to maintain the process of user interactions. Tokens of the social network will allow conducting transparent and open transactions, bound to usual actions in social networks.
First, the developers of the project care about authors of high-quality content. Post...
US-based cryptocurrency exchange Kraken will reportedly shutter its trading services in Japan due to rising business costs. Referencing an emailed statement from Kraken, Bloomberg is reporting that the San Francisco-based exchange operator is closing all of its services in Japan with a tentative planned exit in June 2018. However, the exchange did leave the door Continued
The post Crypto Exchange Giant Kraken Quits Japan Citing Rising Costs: Report appeared first on CCN
Handling human resources presents a challenge to almost all organizations, irrespective of their size. And at this time, most businesses run the same Human Resources processes but mostly manually which makes it hard for the people in charge to comb through data stored in outdated systems. Even with the hard work, they will be left with data that lacks validity and consistency.
Even if various disparate tools that affect human capital are aligned, there is no guarantee that the data contained within them is easily accessible, shareable and visible to all relevant stakeholders.
4th Pillar is a blockchain based project that aims to harness the power of blockchain technology to disrupt the way recruitment has been managed by finding a solution in the complicated world of HR and ultimately simplifying the entire HR industry.
Drastically Reduce the Use of Paper.
The human resource and finance connecting hub, 4th Pillar (presale coming soon), is designed for both individuals and organizations. Built with over 22 years of experience in the HR industry, the 4th pillar is based on the Ethereum blockchain and teleportation service, utilizing smart contracts, wallets and IPFS protocol to solve day-to-day problems experienced by individuals and their employers. The idea is to drastically reduce the demand for paper, which is expected to put more pressure on forest ecosystems, as well as help reduce the carbon and ecological footprint.
To achieve this vision is not going to be an easy task. 4th Pillar is facing three main challenges including lack of a wallet system capable of sending multiple payments from organizations to individuals, lack of a mainstream blockchain based B2B and B2C work related sensitive document transfer, and lack of an online recruitment platform based on verified data.
The solutions to challenges are the creation of a 4th Pillar decentralized blockchain system for employers to reward and transfer FOUR tokens directly to their employees using a self-managed 4th pillar decentralized personal savings wallet. 4th Pillar will also use Blockchain and Interplanetary File Systems (IPFS) to provide efficiency in the secure transfer of valuable documents through its network directly from employer to employee. This will make room for creating a digital employee professional identity database with automated evaluation system to recruit based on verified work history.
Platform Services Sales....
A Philippines senator is seeking to speed up the passage of legislation that would increase the penalties for crimes involving cryptocurrencies.
Kraken will be ending its services in Japan at the end of June, but has not ruled out coming back in the future #NEWS
Crypto exchanges have different responsibilities to their clients. In the case of a hack or theft, they need to refund their customers. Coinsecure, an Indian Bitcoin trading platform, will do exactly that. The recent theft affecting several users forces the company to reimburse victims out of their own pocket.
Coinsecure was recently hacked by an unknown assailant. During this theft, the company lost 438.318 Bitcoin, valued at around $3.3 million. This money has been taken from the companys Bitcoin wallet. Rumor has it this may have been an inside job by company CSO Dr. Amitabh Saxena.
Official complaints registered with police authorities clearly implicate Saxena as the culprit. It is unclear if there is any evidence to make those charges stick. With the money still not being located, the investigation will continue for some time to come. Coinsecure even announced a 10% finders fee to its community for anyone who can help recover the money in question.
Given Bitcoins lack of privacy and anonymity, finding the money should not be difficult. That is, assuming the money has not been converted to another cryptocurrency with anonymity features. Additionally, the money may have already been converted to fiat currencies. For now, the attempt to recover the funds is still in full effect.
While this process takes place, Coinsecure has made it clear they will reimburse customers in one way or another. Option one is more favorable as it would result in the stolen money being returned. If that were to happen, customer balances will be corrected by the exchange automatically. The other option will work as follows:
However, if recovery of siphoned BTC is not possible, then we will apply the lock in rates as of the 9th of April, 2018. 10% of the Coin Holding Balance will be refunded in BTC and 90% will be returned in INR....
Ethereum classic price is positioned in a bullish trend against the US Dollar and Bitcoin. ETC/USD may trade in a range above $15.80 before it makes the next move.
There was a decent upside move in ETC price above the $16.00 level against the US dollar. The ETC/USD pair traded towards the $17.00 level where sellers emerged. A high was formed at $17.01 from where the price started a downside correction. It moved down and broke the $16.80 and $16.60 support levels. Moreover, there was a break below the 50% Fib retracement level of the last leg from the $15.05 low to $17.01 high.
More importantly, there was a break below a connecting bullish trend line with support at $16.60 on the hourly chart of the ETC/USD pair. However, the decline found support near the $16.50 level, which is a key pivot zone. There is also a bullish trend line on the same chart with current support at $15.80. At the moment, the price is testing the 50% Fib retracement level of the last drop from the $17.01 high to $15.62 low. A break above the $16.40 level is required for an upside acceleration towards $17.00 or even higher.
The chart above suggests that the price is positioned nicely above the $15.80 support. As long as ETC is above $15.60-80, it may trade in a range before making the next move higher.
Hourly MACD The MACD for ETC/USD is ga...
A South Korean blockchain industry organization has proposed a self-regulatory framework to set standards for the cryptocurrency exchange industry.
Indian cryptocurrency exchange Coinsecure has reiterated its intention to refund customers after last weeks $3(+) million theft. A significant majority of the stolen funds could be paid in Indian fiat rupees instead of bitcoin if the siphoned bitcoins arent recovered. In a notice posted on its website over the weekend, Delhi-based crypto exchange Coinsecure Continued
The post Coinsecure Offers 10% Bounty on $3 Million Theft, Customer Refunds in Rupees Not Bitcoin appeared first on CCN
Insiders say UKs Barclays bank may be investigating opening a cryptocurrency trading desk just a week after releasing a report comparing investors in digital assets to an infected population that would die out soon.
Bloomberg has reported that Barclays bank is doing an initial assessment to gauge clients interest in the bank opening a cryptocurrency trading desk. Insiders say that the bank is sounding out a potential partnership with Goldman Sachs to create a new Wall Street-centered business.
The bank released a statement saying it had no plans to make such a move. Spokesman Andrew Smith replied in an email saying,
We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market,
Given the risk and progressive manner of entering into a crypto trading partnership, this kind of move would require involvement and approval from the highest levels. Getting Chief Executive Officer Jes Staley and investment bank Boss Tim Throsby on board may not be a problem though as both have been dedicated to reviving earnings in their commercial sectors by investing in higher risk tradings.
Many analysts are calling for a major influx of commercial money into the cryptocurrency market this year but with few existing banking options for the commercial trader, this could put Barclays at the right place at the right time.
The number of hedge funds dealing in cryptocurrency have multiplied by eight times since the beginning of 2017, going from only 37 to 226 in less than a year, but have struggled to find banks to deal with. Money managers and brokers in many cases need to deal with banks because of regulations preventing them from using exchanges to hold and move investments.
If Barclays decides to make the move it will become the first major European based investment bank to open a dedicated cryptocurrency trading desk.
This announcement comes only a week after...
Luxury brand Bellatorra Skin Care reports hot demand for crypto payments from both wholesale and retail customers as it expands into China and India.
Ripple price is consolidating gains against the US Dollar and Bitcoin. XRP/USD must stay above the $0.6200 support to continue moving higher.
After trading close to the $0.7000 level, Ripple price faced selling interest against the US Dollar. The price started a downside correction and traded below the $0.6800 and $0.6600 support levels. There was also a break below the 50% Fib retracement level of the last leg from the $0.6240 low to $0.6995 high. However, the downside move was protected by the $0.6400 support.
A low was formed at $0.6368 before the price moved back above $0.6500. It is currently trading above the 23.6% Fib retracement level of the last decline from the $0.6971 high to $0.6368 low. In the short term, there could be more range moves above the $0.6200 pivot level before buyers take control. It seems like there is a contracting triangle forming with current support at $0.6400 on the hourly chart. On the upside, a break above the 50% Fib retracement level of the last decline from the $0.6971 high to $0.6368 low may push the price towards $0.6900.
Looking at the chart, the pair must clear the $0.6900 and $0.7000 resistance levels to extend gains. Above $0.7000, the price will most likely trade towards the $0.7500 level in the near term. On the downside, the $0.6400 level is an initial support. However, the most important support is at $0.6200.
Chiles largest cryptocurrency exchanges, Buda, CryptoMarket (Crypto MKT), and Orionx recently applied to an appeals court to confront a banking blockade theyre currently facing. As covered by CCN, the cryptocurrency exchanges recently saw Itau Corpbanca, Bank of Nova Scotia, and the state-owned bank Banco del Estado de Chile shutdown their accounts with no proper explanation. Continued
The post Chilean Cryptocurrency Exchanges Take Banking Blockade to Appeals Court appeared first on CCN
Two economists have developed a model for pricing bitcoin and other assets in decentralized financial networks.
Cryptocurrencies are often criticized for failing to replicate some of the basic functions of fiat money. Governments are always ready to warn you that you cant spend, or save, or trade, or make digital coins. This state of mind, however, is slowly but surely changing, as more benefits become apparent. Paying, saving, investing bitcoin can serve all these purposes, and sometimes that happens with approval from authorities.
Policy makers and central bankers often claim that cryptos are unable to perform basic functions of fiat money means of payment, medium of exchange, store of value, and unit of account. Many times, however, they acknowledge one or more of these characteristics, especially when that serves their priorities. Filling the coffers is one such priority, if not the main one, for just about any government. Taxes are the major source of budget revenues for most countries with open market economies. Last years record highs have put cryptocurrencies in the spotlight of this years tax campaign.
Nothing can be a better lift for a cryptocurrency than news that a major exchange will be listing it or expanding trading options. Exchanges do not come much bigger than Binance so the announcement posted on the company website an hour or so ago has given Cardano a long needed lift this morning.
Cardano is already listed on Binance but tradable only in BTC or ETH. Today the Hong Kong based exchange announced that it would be offering ADA/BNB and ADA/USDT trading pairs. BNB is Binances own coin and USDT is Tether which is pegged to the US dollar. This gives traders greater flexibility for buying and selling ADA. It is good news for any altcoin which needs to uncouple itself from Bitcoin, which is pretty much all of them.
Binance (@binance) April 17, 2018
Cardano has had a rough year, falling hard from its giddy peak of $1.26 (8650 satoshis) on January 4 to a 2018 low of $0.13 (1740 satoshis) on March 18. This represents a fall of almost 90% (80% against BTC) in less than three months. It was one of the worst performing altcoins in March.
ADA has been waiting for a boost and it has finally arrived with Coinmarketcap reporting the token trading at 24% higher on the day. Cardano has climbed from $0.21 to almost $0.27 in the past day and is trading strong in Asia at the moment. Over the week the altcoin has performed exceptionably well rising over 73% from $0.15 this time last week. Against Bitcoin ADA is up almost 25% on the day to around 3300 satoshis, the weekly gains are even better at 50% from 2200 satoshis this time last week.
South Koreans are leading the way with trade volume as Upbit is dominating with around 65% of the total trade in KRW. Binance is currently second with 20% of the volume however this i...
The term cryptocurrency is a contraction of cryptographic currency. In March 2018, Merriam-Webster announced that they would include this term in their dictionary. Their definition is as follows: cryptocurrency noun cryptocurrency \ krip-t-kr-n(t)-s , -k-rn(t)-s \ : any form of currency that only exists digitally, that usually has no central issuing or regulating authority but [...]
Players in Thailands crypto markets have petitioned the Finance Ministry to either delay or waive altogether a combined 22% tax burden aimed at dissuading investors from putting money into ICOs and cryptocurrency within the Kingdom.
On March 29, a royal decree was handed down to the Finance Ministry outlining new tax guidelines for the cryptocurrency market as was reported in NewsBTC. These new taxes came in the form of a 7% value-added tax (VAT) on all cryptocurrency trades plus a 15% capital gains tax. This 22% levy on cryptocurrency trading was a deliberate measure taken by military controlled Thai regulatory bodies to protect naive traders from losing their money.
Now crypto pundits are asking that the revenue department reconsider the harsh taxes. Proposing a tax policy that will encourage the growth of crypto and blockchain related companies to do business in Thailand, not send them away.
As was reported by the Bangkok Post Thuntee Sukchotrat, chief executive of Jibex, a cryptocurrency exchange owned by JIB Computer Group Co Ltd., is one of the people seeking a change in the tax policy;
Tax could be an obstacle for startups and the fund-raising process, given that startups planning to raise funds in Thailand could opt to look at other places because of stringent regulations here, he said
Jibex is on the verge of launching its cryptocurrency wallet service and will begin trading in June. In order to meet the forthcoming ICO regulations, wallet services using Thai Baht as their currency in the country must have a minimum of B200 million ($US6.4 million) registered capital in order to apply for a license through the Bank of Thailand.
Among those calling for a rethink on the new tax is Jirayut Srupsrisopa, a blockchain expert, and co-founder of the Thai cryptocurrency exchange coins.co.th. Speaking to the Post he voiced his fears that this kind of regulation sends a message out to the world that Thailand isnt interested in developing its fintech sector. Srupsrisop said,...
Ethereum price is holding gains against the US Dollar and Bitcoin. ETH/USD is currently above $500 and is eyeing an upside break in the near term.
There was a minor downside reaction in ETH price after it made a new monthly high at $538.34 against the US Dollar. The price declined and traded below the $525 support to test the $500 zone. During the decline, there was a break below the 50% Fib retracement level of the last leg from the $481 low to $538 high. However, the downside move was protected by the $500 support zone and the 100 hourly simple moving average.
Moreover, there is also an important bullish trend line forming with support at $500 on the hourly chart of ETH/USD. The trend line support at $500 and 100 hourly SMA are strong supports on the downside. At the moment, the price is trading near the 23.6% Fib retracement level of the last decline from the $538 high to $497 low. To initiate a fresh upside wave, buyers need to break the $515-517 resistance area. The stated $517 level is the 50% Fib retracement level of the last decline from the $538 high to $497 low. A successful push above the $517 level will most likely take the price towards $540 in the near term.
Looking at the chart, there are many positive signs since the price is holding the $500 level and the 100 hourly SMA. A break below 100 hourly SMA may perhaps drag the price towards $480.
The Bank of Japan said it has no plan to issue a central bank digital currency due to concerns over financial stability.
The bullish momentum has run out of steam and buying pressure has been exhausted this morning in Asia. Crypto markets have corrected slightly and there is more red than green on the board at the moment. Bitcoin has lost almost 2% but is still just above the key $8,000 level. Altcoins have largely retracted a little bit but many of them are holding steady. As usual one is steaming off towards the moon and performing way ahead of its siblings and today that altcoin is Verge.
According to Coinmarketcap XVG went off like a rocket a few hours ago and is currently trading 18% higher on the day. Verge is currently trading at $0.10 from $0.084 this time yesterday, over the week it has posted solid gains rising around 20% in the seven day period. On the monthly chart XVG has jumped over 200% from $0.032 this time last month. Against Bitcoin Verge has climbed over 20% to 1278 satoshis from 1067 sats this time yesterday. Weekly gains have been pretty slim however as Verge traded around the 1220 satoshi level this time last week.
Many are quick to lambaste these altcoins on social media but there is no disputing the likes of Verge and Tron have been some of the better performing cryptos in recent weeks. The current momentum has come from the imminent announcement of Verges new partner today. A Medium post indicates that the official press release will be made at 10am EST.
vergecurrency (@vergecurrency) April 17, 2018
In an unorthodox move Verge ran a crowd sale to raise funds in order to secure this new partnership however most of the 75 million XVG tokens were donated by the same company, TokenPay. This is a strong indicator as to who the new partner will be. Either way the altcoin is outperforming all of the rest during the Asian trading session this morning with the possible exception of Cardano w...
Bitcoin cash price is holding the $740 support nicely against the US Dollar. BCH/USD may continue to move higher and it could even target a fresh high above $800.
After trading further higher, bitcoin cash price found sellers near $800 against the US Dollar. The price started a downside correction and traded below the $780 and $760 support levels. There was also a break below the 50% Fib retracement level of the last leg from the $721 low to $800 high. However, the downside move found support near a crucial level at $740 and the 100 hourly simple moving average.
BCH buyers protected further declines, resulting in an upside move above the $750 level. It has moved above the 23.6% Fib retracement level of the last decline from the $800 high to $742 low. However, the upside move is facing sellers near the $770 level. Moreover, the 50% Fib retracement level of the last decline from the $800 high to $742 low is also near $770. Therefore, a break above the $770 level is needed for further gains. Above $770, the price could retest the last swing high at $800. And, if buyers remain in control, the price may even break the $800 level for a new high.
Looking at the chart above, there is a new connecting bullish trend line forming with support at $750. As long as the price is above $740-750, it remains supported.
Looking at the technical indicators:...
A new proposal explores the combination of the lightning network and NFC to move the layer-two bitcoin tech forward.
Bitcoin Price Key Highlights
Bitcoin price looks ready for a pullback to a key area of interest visible on the 4-hour time frame.
Technical Indicators Signals
The 100 SMA is still below the longer-term 200 SMA on this time frame, though, so the path of least resistance is to the downside. In other words, the selloff is still likely to resume. Then again, the gap between the moving averages is narrowing to reflect slowing bearish pressure.
Bullish pressure could kick in once an upward crossover is completed. The 100 SMA is in line with the broken channel resistance to act as an additional inflection point. The 200 SMA lines up with the 50% Fibonacci retracement level and an area of interest that might be enough to keep losses at bay.
Stochastic is already indicating oversold conditions and looks ready to turn higher, drawing more buyers in. RSI, on the other hand, has plenty of room to fall so the correction could keep going for a bit longer.
Although bitcoin price is retreating from its recent climb, analysts have reason to believe that the gains could continue. For one, the second quarter of the year has historically been positive for cryptocurrencies and once the tax deadline has passed, investors could reopen their long positions.
Besides, Coinbase reportedly bought former bitcoin mining company 21 Inc, which is now known as Earn.com. This company has rebranded itself as a social media platform that incentivizes users to complete tasks in exchange for cryptocurrency rewards.
The deal was reportedly valued at over $100 million and reminds traders of the consistent developments in the space amid regulatory concerns.
The hacked Japanese cryptocurrency exchange Coincheck has officially been acquired by one of Japans largest online brokerage firms. Monex Group has outlined its plans of reviving Coincheck and the risks associated with the acquisition.
Coincheck has officially become a wholly-owned subsidiary of Monex Group on April 16, local media reported after the leading online securities firm agreed to invest 3.6 billion yen (~US$33.55 million) in the acquisition of the exchange. Monex is among Japans largest online brokerage firms, whose competitors include SBI Securities, Rakuten Securities, Matsui Securities and Kabu.com.
In a press conference on Friday, Monex disclosed Coinchecks financials for the fiscal year ending March 31. The exchanges revenue was 980 million yen (~$9.13 million) and its net operating income was 719 million yen (~$6.7 million). Moreover, the exchange has approximately 1.7 million use...
Cryptocurrencies are regularly accused of causing deaths in a fairly direct way (as Bill Gates put it). A report released by The Foundation for Defense of Democracies found that less than one percent of Bitcoin is used for illegal purposes.
Aaron Shamo, a 28-year-old Bitcoin enthusiast who became a millionaire since the cryptocurrency rally in late 2017, was found to be a drug dealer, according to the police. Shamo has allegedly trafficked fentanyl, a powerful opioid, which may have caused 28 fatal overdoses and is now in prison awaiting trial. He has pleaded not guilty as he faces a mandatory life sentence if convicted.
The modus operandi of the alleged drug ring used Bitcoin as the means of payment. We have switched to bitcoin payments only. Now you will enjoy a 10 percent less price tag on all products. Good part is that paying by bitcoin you can order as much as you like with no limit, said an e-mail from the dealer.
Law enforcement found six websites offering fentanyl and all of them listed Bitcoin as the preferred method of payment. Because its anonymous, its the currency of choice for these drug traffickers, said Ohio Republican Rob Portman, head of a Senate committee investigating the matter. Attorney General Jeff Sessions has called the use of Bitcoin on the dark web a big problem.
Most cryptocurrency advocates dismiss the argument that Bitcoin is a problem. Blaming Bitcoin for this crisis would make as much sense as blaming the internet or cars that drug traffickers have to use, said Perianne Boring, president of the Chamber of Digital Commerce.
The anonymity argument is also problematic as buying Bitcoin requires real money and cryptocurrency exchanges now collect personal information from users, who also need to convert their Bitcoin back into fiat for consumer spending. At some point, Bitcoin is only as good as where you can spend it. You look at where the currency enters the mainstream financial system in order to get spent, said a Justice Department official.
The Foundation for Defense of Democracies, a foreign policy think tank, released a report that found less than one percent of Bitcoin is used for illegal purposes and almost all of the illicit activity came from transactions on t...
Tax pros in the cryptocurrency space are applying a hodgepodge of rules that historically have been applied to stocks, bonds and various other assets.
International insurance brokerage and risk management firm Marsh is collaborating with IBM to create the first commercial Blockchain solution for proof of insurance. #NEWS
Over the past few weeks, the bitcoin cash (BCH) community has been discussing the use of op-codes with the BCH chain. The technology could allow the creation of different types of metadata implementations like colored coins and representative tokens, alongside the ability to perform smart contracts, but in a more simplified manner as opposed to ethereums solidity programming language. The subject of re-activating certain op-codes and scripting abilities has invoked some excitement from BCH proponents and this May after the bitcoin cash hard fork the community will see some new op-code features.
Bitcoin cash is forking on Tuesday, May 15 a...
Ripple urges UK regulators to find a balance between capturing risk and enabling innovation, claiming good regulations will help the crypto market mature. #NEWS
The Reserve Bank of Indias recent ban on financial institutions transacting with companies using or offering cryptocurrency services will certainly have consequences for the nation. However, thanks to peer-to-peer exchanges like Paxful, one of these is unlikely to be cryptocurrency usage and adoption in general.
On April 5, the Reserve Bank of India issued a statement which banned the the nations banks from dealing with cryptocurrency exchanges and other similar services. Thankfully for Indias crypto enthusiasts, it didnt drop any hint of a pending government crackdown on digital currencies though.
According to Sathvik V, the CEO and founder of Unocoin one of Indias largest wallet and exchange platforms the statement will leave the legality status of Bitcoin or other crypto-currencies in India unchanged. He believes the RBI move is to protect people and companies from the risks associated with such volatile assets.
Whilst exchanges like Unocoin plan to continue their businesses, the fact that users will no longer be able to deposit and withdraw from exchanges directly to their bank accounts will surely impact their bottom line. However, there are other forms of exchange that will be able to provide off and on ramp services for those wishing to enter or exit the market.
Peer-to-peer exchanges such as Paxful allow users to organize trades and pay for crypto with a variety of different methods. These include PayPal, Western Union, and even various gift card sellers such as Amazon or OneVanilla. Peer-to-peer exchanges also sit more logically with the entire idea behind cryptocurrency. Surely, the antithesis of a decentralized system such as Bitcoin is using a hugely centralized institution such as a bank. The oft-repeated, unofficial slogan of Bitcoin being be your own bank seems downright silly if having a traditional bank account is a prerequisite for using the system in the first place.
Whats more, peer-to-peer trading rose dramatically in China following the governments crackdown on exchanges last autumn. There is no reason to believe that the same will not happen in India too. With less draconian internet regulation, online, peer-to-peer markets like Paxful will...
Coinbase has acquired Cipher Browser Dapp to incorporate its features to its own Toshi Ethereum browser and wallet. #NEWS
A conference dedicated to raising awareness among women about cryptocurrencies is scheduled to take place in the Russian capital this month. The speakers at the event, also women, will share practical information on cryptos, blockchain technologies, and investment opportunities. The event will be live-streamed in 74 countries.
The Crypto Conference for Women will be held on April 28-29, at the Zolotoe Koltso hotel in Moscow, where experts and entrepreneurs will tell participants what cryptocurrency is and how it works. 24 female speakers will share advice on how to start with an initial investment and recommendations on storage options. The latest developments in the crypto world will be presented to the audience, along with other useful information.
There is little guidance from the IRS on how to treat a token offering or SAFT for tax purposes. Determining how to do so is a fact-intensive process.
Gold and The Blockchain Revisited Ann Rhefn Video smaulgld Video Source
The post Gold and The Blockchain Revisited Ann Rhefn (Video) appeared first on The Daily Coin.
According to anonymous sources, Barclays could be opening a crypto trading desk, first must determine level of client interest. #NEWS
Digital currency exchange Coinbase has acquired Earn.com and appointed the companys CEO as its Chief Technology Officer. #NEWS
Chinas cryptocurrency markets have witnessed a number of significant events in recent weeks, including affirmation from the People Bank of China (PBOC)s new governor, which will likely intensify the countrys crackdown on cryptocurrency.
Whilst attending a forum on monetary policy at Asia Annual Conference 2018s Boao Forum, Chinas recently appointed central bank governor, Yi Gang, indicated that the PBOCs stance regarding virtual currencies will not soften under his leadership.
Yi Gang described cryptocurrencies as offering little to contribute to Chinas economy at large, defending the governments cautious stance with regards to virtual currencies. In general, PBOC is maintaining tight supervision among virtual currency, in the meantime, the central bank is also exploring a better...
Cryptocurrency investors appear to be skirting their taxes.
Whether keeping with cryptos anti-establishment roots or for lack
of ability, American cryptocurrency practitioners are testing the
IRSs tolerance for crypto tax evasion.
Tax day in the United States is tomorrow, April 17, 2018, but according to the popular tax filing service Credit Karma, few cryptocurrency holders have reported earnings or losses on their 2017 tax documents. Out of the companys 250,000 new filings, under 100 have disclosed capital gains from cryptocurrency investments, figures that are in line with the companys former reports on cryptocurrency tax documentation.
Certainly, Credit Karmas user base does not constitute the whole of Americas crypto investor populace. But it could reflect the demographics general resistance to paying taxes on their investments, and this could have something to do with the IRSs policy.
In 2014, the IRS released an official notice regarding its cryptocurrency tax policy. First and foremost, the IRS treats virtual currencies as property, subjecting them to the same capital gains taxes that affect traditional investments like stocks, bonds and real estate. These taxes are applicable to anyone who has received payment for goods and/or services in crypto (as part of a salary, for instance), as well as miners, who must account for gains as part of their income.
The tax code appears straightforward enough, but uncertainty remains. Given that the IRS treats any trade as a taxable event and the onus of reporting rests on the investor, reporting on cryptocurrency investments can seem confusing and convoluted to those untrained in accounting and finance.
Even with the tax deadline rapidly approaching in the U.S., were still seeing lots of people unsure about the proper way to prepare cryptocurrency taxes. Properly accounting for crypto-to-crypto trades, trading on multiple exchanges, and purchases made with cryptocurrency can be an overwhelming task, Chris Kovalik, founder of Cointaxes, told Bitcoin Magazine.
Kovalik finds that the IRSs policy places the burden on the taxpayer to follow and account for the governments guidance when filing taxes. Unlike other tax codes that offer standards and historical precedent, crypto investors have no touchstone for guidance....
A person with knowledge of the situation said all major banks are likely to be weighing the same decision.
Runaway inflation continues to devalue the Venezuelan Bolivar (VEB), even as the countrys authoritarian government seeks to divert attention from the floundering economy by hawking its Petro cryptocurrency. According to Reuters, prices in Venezuela rose by 454 percent during the first quarter of 2018 and have swelled by 8,900 percent over the past 12 months. Continued
The post Venezuelas Bolivar Sees 454% Inflation in Q1 as Maduro Hawks the Petro appeared first on CCN
Despite moving up one spot, IOTA and the general altcoins market is sluggish. In fact, most coins are shedding and retracing. In my view, waiting until proper signals prints in NEO, Litecoin, Stellar Lumens, EOS and IOTA is prudent as our altcoins technical analysis shows.
Lets have a look at these charts:
Even though Stellar Lumens is generally up, the coin is giving back some of its earlier gains. In the last 24 hours alone, the coin is down 3.75 percent and technically, we expect further declines.
In our entry chart for example, there is a small bearish divergence pattern and with bearish stochastics turning from deep the overbought territory, bears are likely to ramp up especially if there is a breach below $0.28. Remember, this level is a minor but key support line-the middle BB.
From our Stellar Lumens analysis, our first point of support lies at March highs at $0.24 and if a stochastic buy signal prints at that level, we anticipate buyers to test $0.5 in the short to medium term.
After breaching the $1.5 mark, IOTA is up one spot up the liquidity table with a market cap of $1.58B despite losing 5 percent in the last 24 hours. Thats not a worry though...
Blockchain has become one of those buzzwords that commands attention and carries a powerful social glow, yet in the likes of similar buzzwords that have attained such a prized status, it has lost much of its meaning. Blockchain has become a catchall term for just about any digital ledger system regardless of crucial variations in its design. With so many blockchain projects ranging from social impact initiatives to opportunistic marketing ploys, it can be difficult to discern which projects hold real potential.
Ether is the underlying token powering the Ethereum blockchain,
but it serves a slightly different purpose than bitcoin does to the
Bitcoin blockchain. Although ether is traded on public markets and
has displayed price appreciation similar to bitcoin, they are quite
different by design. Ether is not intended to be a unit of currency
on a peer-to-peer payment network; rather, it acts as the fuel or
gas that powers the Ethereum network.
At the highest level, Ethereum is an open-source platform that runs smart contracts. When smart contracts are run on a blockchain, they become self-executing when certain conditions are met. The execution of smart contracts requires computational resources that must be paid for in some way: this is where ether comes in.
Ether is the crypto-fuel allowing smart contracts to run. It provides the incentive for nodes to validate blocks on the Ethereum blockchain, which contains the smart contract code. Every time a block is validated, 5 ethers are created and awarded to the successful node. A new block is propagated roughly every 1517 seconds. Some nodes may find the correct solution to a block without having it included in the network. The Ethereum network rewards these nodes with 23 ethers.
Individuals interacting with decentralized applications on the Ethereum platform will have to pay the network in ether for the use. Developers are incentivized to create these decentralized applications because they will be paid in ether for their work. Developers are also incentivized to write quality applications because wasteful applications will be more expensive and likely will not be used as frequently as better alternatives.
Using this information, the narrative around ether becomes more clear. Its final use will most likely be abstracted by basic button clicking, but assuming Ethereum becomes widely used, ether will be rapidly moving between users and miners. Its value is directly tied to the use of the Ethereum blockchain.
The total supply of ether is not capped like the total supply of bitcoin. 60 million ether were created during the initial crowdsale, 12 million of which went to early backers and the Ethereum Foundation. Most of the money raised will be used to fund future development initiatives.
Ethers issuance model is unique in that it does not emphasize deflation like most other popular cryptographic assets. Initially, issuance of ether was capped at 18 million per year, which is 25 percent of the initial supply raised in the crowdsale. But more recently, Vitalik Buterin said that issuance...
Yale professor of economics Robert Shiller has changed his tune when it comes to the longevity of Bitcoin.
The noble prize winning economist has been a mainstay on programs like CNBCs Trading Nation where he has taken a harsh stance on the future of Bitcoin many times in the past. Shiller has called the cryptocurrency a fad and compared it to pyramid schemes using the cliched comparison of the tulip bulb buy up and collapse of 1637 to illustrate his point.
In the past, he has expressed his view that Bitcoin (as a representative for all cryptocurrencies) is a bubble that attracts investors because it is a good story. During a 2017 debate with crypto expert Brian Kelley on CNBC he said Its the quality of the story thats attracting all this interest, and its not necessarily sustainable whats driving the market? Its not fundamentals. Its not like this is a fundamentally important thing, this Bitcoin.
Recently though he has changed his stance or at least his conclusion. Speaking with CNBC again he still talked about Bitcoin being a fad but went beyond qualifying that with his former explanation that its glamorous by explaining that part of its appeal comes from its decentralized nature. They (investors) like the idea that this didnt come from the government. It came from some real smart computer scientist. They like that. Its a great story for todays markets.
He went on to say that though he maintains cryptocurrencies are a bubble he now concedes he may have been overzealous about its shortcomings in the past. Saying on Trading Nation
Im interested in bitcoin as a sort of bubble. It doesnt mean that it will disappear, that itll burst forever. It may be with us for a while,
Shiller continued in the same interview to say I dont mean to dismiss it. Some smart people went into these and other cryptocurrencies, which is a long way from past statements that he has made dismissing it in no uncertain terms.
Global insurance company Marsh is piloting a proof of insurance platform on a blockchain with IBM's help.
In the U.S. tax season has arrived and many American cryptocurrency proponents are squirming because they have to pay for some of the gains they made last year. However, there are a lot of digital currency holders who could care less about taxes and they strongly believe that taxation is antithetical to cryptocurrencies. While there is a good portion of digital currency holders planning to file their gains and losses, many crypto-advocates dont plan to pay their tax liabilities.
If youre a cryptocurrency enthusiast then over the past few weeks youve probably seen a lot of articles on paying cryptocurrency taxes, how to pay them, and the horror stories involved with those who have to pay taxes on every transaction because every single one is a taxable event in the U.S. Even though lots of people believe the Internal Revenue Services (IRS) classification is unjust by defining cryptocurrencies as a property rather than a currency, people still are forced to pay for their cryptocurrency gains. Just recently theres been a multitude of reports on cryptocurrency taxation, and some of them explain that a lot of cryptocurrency proponents dont seem to care about paying their digital asset taxes....
Cryptocurrency exchange Coinbase is buying Earn.com, a social
network that allows users to earn digital currency by replying to
emails and completing small tasks online.
Coinbase CEO Brian Armstrong made the announcement in a blog post today, April 16, 2018. In addition to welcoming the entire Earn.com team, Coinbase has made Earn.com co-founder and CEO Balaji Srinivasan its first CTO. Both companies are located in the Bay Area.
This is Coinbases fifth acquisition so far and its most substantial to date. Only last week, the exchange purchased decentralized app browser and Ethereum wallet Cipher Browser. Coinbase has not revealed how much it paid for Earn.com, but to offer an idea of the companys evaluation, Earn.com has raised more than $120 million in a series of funding rounds.
Earn.com began life as 21 Inc, a startup best known for creating the 21 Bitcoin Computer, essentially, a Raspberry Pi connected to a bitcoin-mining ASIC, with the idea of building bitcoin miners into devices people already use. The computer first began shipping in November 2015.
In October 2017, 21 Inc rebranded itself as Earn.com and notified customers it was ending support for its Bitcoin Computer to focus on allowing users to monetize their email and social media channels instead.
Currently, Earn.com pays users in bitcoin, but the company has also developed its own Ethereum-based ERC20 token, dubbed the Earnable Token, so that when people complete tasks in Earn.com, they can earn rewards in tokens. The company state...
Well-known crypto advisor and investor reports a $2 mln hack during a live stream, Twitter and Reddit users take it upon themselves to investigate the claim. #NEWS
A group of Wall Street analysts has a unique idea to allow shale producers in Texas oil-rich Permian Basin to profit from the massive amount of natural gas that is currently being wasted as a result of shale extraction: harness it to power a Bitcoin mining operation. Writing in a recent note to clients, a Continued
The post Pipe Dream: Analysts Mull Natural Gas-Powered Bitcoin Mining Operation appeared first on CCN
The crypto markets are experiencing some uncertainty amidst bullish predictions by analysts. #PRICE_ANALYSIS
Victims of the $3 million theft at bitcoin exchange Coinsecure will receive a refund on their stolen funds, but it may not be in BTC.
One of South Koreas top three cryptocurrency exchanges, Coinone, is launching an exchange in Indonesia. Initially, six cryptocurrencies will be supported but the exchange plans to add more coins. Coinone is also launching an airdrop event for 10,000 pre-registrants.
Coinone announced on Monday that it is launching Coinone Indonesia in Jakarta, making [it] first among the top cryptocurrency exchanges in Korea to enter the global market, the company wrote.
The South Korean exchange is the third-largest crypto exchange in the country after the Kakao-backed Upbit and Bithumb. Its 24-hour trading volume is $63,140,495 at the time of this writing, according to Coinmarketcap. The company also operates a blockchain 4D zone called Coinone Blocks, with walk-in customer consultation counters.
The CEO of Coinone Indonesia, Alan Song, elaborat...
A research project funded and co-run by NASA is looking to leverage the Ethereum blockchains smart contracts technology to automate spacecraft maneuvering while avoiding space debris. In developments that could potentially have significant implications for deep space probes, NASA is putting resources behind a research project that fundamentally envisions the use of blockchain technology to
The post NASA Researches Ethereum Blockchain Tech for Deep Space Exploration appeared first on CCN
Decentralized protocol 0x has raised $775,000 through a SAFT sale last year.
A company is developing software to help enterprise businesses and ecommerce firms quickly adopt Blockchain ledger and related technologies #SPONSORED
Coinbase has officially embarked on a shopping spree. The San Francisco-based company on Monday announced its second buyout in less than a week, revealing that it had acquired fellow cryptocurrency startup Earn.com, confirming months-long rumors that the two companies were quietly holding such discussions. Terms of the deal were not disclosed, but TechCrunch reports that
The post $120 Million: Coinbase Buys Earn.com in Largest-Ever Acquisition appeared first on CCN
Coinbase has completed the acquisition of Earn.com, an app that lets users get cryptocurrency for answering emails and completing tasks. The Earn startup team joins the company and the founder will serve as its first CTO, as part of the deal.
San Francisco-based cryptocurrency exchange Coinbase has announced today that it has acquired Earn.com (formerly known as...
Perhaps the best-known company in all of cryptocurrency has announced their first major acquisition. Coinbase has bought Earn.com, a startup that allows users to be compensated in digital currency for completing small tasks and responding to emails.
Recode reports that Coinbase has bought Earn.com for just over $100 million. Along with the acquisition, there are some additional perks for digital currency exchange too. The buyout will enable Coinbase to bring Balaji Srinivasan on board as their first Chief Technology Officer.
According to a blog post by Coinbase CEO Brian Armstrong, Srinivasan is one of the most respected technologists in the crypto field.
A brief look at his resume gives clear indication as to why Coinbase would want him to fill the role of CTO. Srinivasan holds qualifications up to PhD level in Electrical Engineering, as well as an MS in Chemical Engineering. These were awarded by Stanford University where he also teaches a variety of subjects. These include data mining, statistics, genomics, and blockchain courses.
Armstrong outlined the purpose of Srinivasans appointment in the post:
Balaji will serve an important role as the technological evangelist for the company. Balaji will evangelise for both crypto and for Coinbase, educating the world and recruiting crypto-first talent to the company.
The blog post seemed much more focused on the appointment of the new CTO than it did about the acquisition itself. That said, Armstrong did state that Coinbase would be expanding the Earn.com model within the crypto exchange. He went on to acknowledge the platform as a prime example of an early use of blockchain technology that had been able to achieve meaningful traction.
Conversely, a post on Earn.coms news section expressed excitement for what the acquisition would mean for the platform itself. Under Coinbase, the company expects to be able to get bigger and better. This will better position them to complete their lofty end goal:
If were successful in ou...
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
To promote the launch of the first feature-full blockchain-based e-commerce and e-payments platform, BCShop.io announces huge community development campaign which will consist of several different activities and reward pools.
Token Holders Promotion
This promotion is dedicated to our early token holders who obtained BCS tokens before actual mainnet release thus helping to make BCShop.io platform into reality. We will make ALL token holders snapshot at 15th of May 2018 and 200k tokens will be reserved for distribution between those token holders in the snapshot. Tokens will be rewarded proportionally to token holdings so 200k tokens will lead to ~60% reward given the current circulating supply of 332k tokens.
Note: It is obligatory for you to qualify for the reward. We ask you to write your feedback about BCShop.io platform (after mainnet release) in a free form at telegra.ph and send it to email@example.com, dont forget to specify your wallet address with BCS tokens. The qualification process is conditioned by regulators recommendations and teams adherence to Customer Development approach. Your valuable feedback will be used to improve the platform and deliver better experience to all its users.
We will start sending rewards weekly after mainnet release and
there will be no set deadline so feel free to qualify at your
convenience. Sharing your personal experience in social media
networks is very much appreciated.
Be sure that you hold tokens on personal wallets, exchange wallets are not su...
It appears that the Iranian people are losing trust in the rial as it continues to depreciate in value. In response, the government of Iran is trying to prevent them from getting their hands on foreign currency, providing another example of the need for bitcoin. We should expect to see a growth in local bitcoin use as this situation develops, just as has happened in Venezuela and elsewhere.
The Central Bank of Iran (CBI) has announced a ban on the trading of foreign currencies by individuals and companies at private exchanges across the country. According to local news reports, forex exchanges in Iran are now only allowed to buy or sell gold coins unt...
A flood of misplaced Twitter love has pushed the #FUDBuster to set the record straight.
The Cardano price posted a lonely advance on Monday, as the wider cryptocurrency markets slouched into an early-week slump and the Bitcoin price sunk below $8,000. Altogether, the cryptocurrency market cap shed about $13 billion, declining to $322 billion from $335 billion on Sunday for a single-day decline of 3.9 percent. Bitcoin Price Sinks Back Continued
The post Cardano Price Leads Lonely Advance as Bitcoin Retreats Below $8,000 appeared first on CCN
U.S.-based cryptocurrency exchange Coinbase has confirmed the acquisition of Earn.com, one of bitcoin's best-funded startups.
Notable cryptocurrency investor and Youtube influencer Ian Balina ended a livestreamed ICO review last night when he realized he was being hacked. Balina seemed to realize something was amiss when he was required to sign back into Google to save changes to the spreadsheet he was using, saying I have to get going and ending the stream. Continued
The post Crypto Investor Ian Balina Hacked for Millions in Ether During Livestream appeared first on CCN
In 2009, Satoshi Nakamoto, the mysterious founder of Bitcoin, released a white paper proposing a radical shift away from prevailing fiat money transactions. Nakamoto begins the white paper with an abstract,
Today, there is significant attention around bitcoin and other
cryptocurrencies. While they are most often looked at as a
speculative asset, questions remain about day-to-day utility of
cryptocurrency. For many businesses, accepting digital currencies
might not seem worth the trouble, given that the process can be
beset with unpredictable fees, a perceptually steep learning curve
and other transactional complexities. Setting aside the risk
component, one reason why businesses have avoided adoption is the
fact that few point-of-sale systems can efficiently accept crypto
In alignment with Satoshis vision, a London-based company known
as Plutus has set its sights on
igniting a new age of crypto-based point-of sale transactions.
Founded in 2015 by Danial
Daychopan before being successfully funded the following year
through its pluton (PLU) token crowdsale, Plutus is a decentralized
payment ecosystem that permits cryptocurrency payments anywhere in
the world through the use of a decentralized, escrow-based
Plutus vision is to deliver cryptocurrency payment options to
the general public. The fundamental value they see in this
territory is that it is the launching point for boosting
cryptocurrency user growth and adoption for point-of-sale
This loyalty element is pivotal to Plutus value proposition in
that consumers can earn plutons for purchases executed through
their digital app. Akin to frequent flyer miles or loyalty points,
these tokens, which are facilitated through the Ethereum blockchain
and transacted utilizing the Plutus mobile app, can be used to pay
for everyday goods and services. There are zero transaction fees
and near-instant transaction confirmations.
Orchestrating the Next B2C Payment Universe
Chinese traders in Moscows huge wholesale bazaars have become the most active buyers and sellers of cryptocurrency in the Russian capital. The retail turnover there is estimated at almost $10 billion a month. Authorities say that most of it is converted to cryptocurrencies and sent back to China where its exchanged to yuan.
The three largest bazaars in the Russian capital, Moskva, Sadovod, and Food City, make about 600 billion rubles each month (~$10 billion). Thats almost a quarter of the retail turnover in the Russian Federation. Practically none of it is deposited in bank accounts, according to Yuri Polupanov, head of the Central Banks Financial Monitoring and Currency Control Department. 90% of the businesses there are owned by Chinese merchants and producers, he said during the Thomson Reuters Forum in Moscow, RBC reported.
The retail centers have become pioneers in crypto trade. Russias Centrobank believes that Chinese traders convert most of their revenues to cryptocurrency and send it back home, where it is exchanged to yuan. Financial authorities have learned that crypto exchange bureaus are also operating there. Polupanov said that some of them are registered as financial services providers. Inspectors have found discrepancies between...
Bitcoin Fraudster Renwick Haddow extradited from Morocco and charged with two counts of wire fraud, appearing in a U.S. court on Friday. #NEWS
The bitcoin price is headed for the stratosphere. The bitcoin forecasts have been pouring in from seasoned investors and strategists like Tim Draper and Thomas Lee, each with a bullish price attached. Now Brian Kelly, founder and CEO of digital assets investment fund BKCM LLC, is joining the chorus, suggesting that bitcoin could set a Continued
The post Bitcoin Price Could Hit $25,000 This Year, Soar to the Moon After: Analyst appeared first on CCN
Ripple's XRP is now outperforming its peers and could continue scaling key levels against bitcoin, the technical charts suggest.
Hanois Dpt. of Industry and Trade issues e-commerce #crypto ban, violators risk criminal prosecution and fines #NEWS
Ex-Google employees create Blockchain community for other ex-Googlers as their unique experience can expand Blockchain influence. #NEWS
How can Blockchain solve US govt problems? ACT-IACs Blockchain playbook intends to help them work it out. #NEWS
Bithumb, the largest cryptocurrency exchange in South Korea with a daily trading volume of about $476 million, is holding $6 billion on behalf of its customers as of 31 December 2017, according to its published audited accounts.
South Korea is one of the largest cryptocurrency markets and Bithumb is the n.1 exchange by trading volumes. As a subsidiary of publicly traded company BTCKorea, Bithumb is required to publish its audited accounts. The audit report came in on March 20 on the website of Financial Supervisory Service, a regulator that operates under the broad oversight of the Financial Services Commission (FSC).
The report indicates that Bithumb held $6 billion worth of cryptocurrencies on behalf of users as of 31 Dcember, 2017. The balance sheet comprises of $1 billion worth of Bitcoin, $1.6 billion of Ripple, $0.7 billion worth of QTUM, $0.65 billion worth of EOS, $0.6 billion worth of Ethereum, $0.5 billion worth of Bitcoin Cash, and $0.3 billion of Bitcoin Gold. The amount of other cryptocurrencies was less substantial. The exchange also held $0.4 billion in its own balance sheet.
Bithumbs reported sales in 2017 were of 333.4Bn ($312Mn), with the net income amounting to 427Bn ($400Mn). Non-operating income produced an additional $90 million worth of revenue. The cryptocurrency exchange will publish its financial statements in mid-April after a shareholders meeting on March 30.
In the light of these new figures, the daily trading volume of $476 million operated at the cryptocurrency exchange amounts to nearly 8% of customers holdings, which signals how actively are South Koreans trading virtual currencies.
The people of South Korea are also taking cryptocurrencies to the offline world, much thanks to Bithumb as it enters the payments market. A partnership with mobile payment operator Korea Pays Services is expected to reach over 8,000 merchants across the country by the end of the year as 200 franchise brands are willing to try payments in cryptocurrency. The Touch B brand is part of Bithumbs offline strategy as it enters the kiosk business and normalizes payments in cryptocurrency.
In this video, Luke gives you the latest breaking news in Harare, Zimbabwe, with Jeff Berwick of The Dollar Vigilante. We cover the white farmers, bitcoin cryptocurrency community, the soft coup against Mugabe, the real social economic situation on the ground, hyperinflation, the run on the banks and so much more.
You can watch this video on DTube here.
For more from Jeff check out https://www.youtube.com/user/TheDollarVigilante
Crypto markets fall slightly, but crypto investors like Tim Draper and analysts like Tom Lee keep the high BTC predictions coming. #NEWS
Israeli equity investors seem to maintain a strong appetite for exposure to the bitcoin ecosystem. The value of a public company traded on the TASE has increased by almost half after it officially completed a deal with Canadian miner Bitfarms.
Tel Aviv Stock Exchange listed company Blockchain Mining Ltd. (TASE:BLCM) has announced on Sunday it completed that the merger with Canadas Backbone Hosting Solutions Inc., operating under the commercial brand Bitfarms. Its share price has jumped up by 49% at the end of the trading day in response.
Bitfarms mines bitcoin, bitcoin cash, ethereum, litecoin and dash in four different facilities in Quebec which have 27.5 MW of installed capacity and over 200 Ph/s...
A Russian court has levied an official ban against messaging app Telegram, just weeks after its initial coin offering (ICO) presale raised nearly $2 billion in two private funding rounds. Tagansky court judge Yuliya Smolina ruled against Telegram on Friday, siding with communications regulator Roskomnadzors request for the authorization to block access to the app
The post Russian Court Bans Telegram on Heels of $1.7 Billion ICO appeared first on CCN
Cointelegraph found out where and how crypto whales and new-born billionaires spend their time. #PANORAMA
Electronics giant Samsung is developing a blockchain platform to manage its global supply chains, according to a report.
There are already a few variations available of the CryptoNight algorithm and different coins are using different versions, so it is hard to keep a track of all and use a different miner for the slightly different version. The SRBMiner Cryptonight AMD GPU Miner might help you here as it pretty much supports all of the variations of CryptoNight for now for AMD GPU miners, for example the just forked IPBC that decided to go for Cryptonight UltraHeavy (CN Light Custom v3) instead of the regular V7.
Supported CryptoNight variations:
Cryptonight Lite V7
SRBMiner is a closed source miner and comes with a built-in developer fee of just 0.85%. The run the miner you just need to do some simple tweaking of the config.txt file like setting the intensity (leave it to 0 for auto) and choose the right algorithm, then just set the pools in the pools.txt file (more than 1 pool to have failover support) and run the miner. The miner works on older and newer AMD GPUs, including the latest RX series, but you should not have issues with older GPUs as well.
Major Islamic ruling could change the cryptocurrency markets as Sharia scholar declares Bitcoin halal by Ken Schortgen, Jr. The Daily Economist An interesting ruling made recently by an Islamic scholar could soon have profound effects on the cryptocurrency markets. That...
The post Major Islamic ruling could change the cryptocurrency markets as Sharia scholar declares Bitcoin halal appeared first on The Daily Coin.
Taiwans newspaper, Liberty Times Net, has reported that two people shot a bitcoin miner when he refused to fulfill their original contract. Suspects Gao Qitang and Chen Yumin shot Wu Nan (nicknamed milk) at the Longhua Hall in Banqiao, New Taipei City on Apr. 14. Under their agreement, Gao and Chen, both members of the Freshwater gang, raised
The post Taiwanese Gangsters Shoot Bitcoin Miner, Who Blames Chinas Crackdown appeared first on CCN
Ian Balina, a famous cryptocurrency evangelist and millionaire investor, has been hacked. A compromised college email account may have been at the origin of the hack, according to Balina, who has asked the community for help to catch the perpetrator.
Ian Balina, a cryptocurrency investor, advisor, and evangelist, with a 142,000 Twitter following, announced on Monday that his cryptocurrency wallet was being hacked while he was hosting an ICO Review Live Stream.
Crypto Family, I need you now more than ever. I ended today's live stream b/c I am being hacked. I'm not worried about the money. I learned my lesson. I only care about catching the hacker. Please email any information to firstname.lastname@example.org. Thank you all the support. $ETH $BTC
Ian Balina (@DiaryofaMadeMan) April 16, 2018
Balinas tweet indicates he acknowledges he failed to set up robust security measures to prevent the incident. Im not worried about the money. I learned my lesson, he wrote. The millionaire investor explained how he thinks he got hacked: My college email was listed as a recovery email to my Gmail. I remember getting an email about it being compromised and tried to follow up with my college security to get it resolved, but wasnt able to get it handled in a fast manner and gave up on it thinking it was just an old email.
I kept text versions of my private keys stored in my Evernote as encrypted text files with passwords. I think they hacked my email using my college email, and then hacked my Evernote, Balina said, according to @WhalePanda.
Four days ago, Balina shared his portfolio on Twitter, which included DRGN, WABI, OST, ICX, NAS, RHOC, ABT, POWR, QSP, ZRX, BRD, EOS, NEO/BTC, FLIXX, HST, KNC, NCASH, WAN, LOOM, ETH, PARETO, POA, NPXS, and AION, worth a total of $2.91 million.
Catch more of stories on Instagram at...
When we take a flight we entrust our lives to the pilot. We trust the airlines to hire a pilot with the requisite experience and conduct thorough checks on the credentials of that pilot. However, did you know that one of the main ways that aviation authorities check on pilots for the licensing purposes is a simple pilot logbook? These are manual books comprised of a paper folio, recording flight hours and other information.
This manual way of tracking entries is not only outdated in this age of technology but also does not answer the important question of how to verify the authenticity of the information written in such a paper folio. Using blockchain technology, Aeron is now providing an elegant solution where all the logbook data is kept in digital format. Not only does the immutable nature of blockchain render fraud, deception, and alterations nearly impossible, but it also makes handling and transferring data easy. This is just one facet that the Aeron project is reforming through the use of new technology and its token, Aeron (ARN).
Bringing aviation records up to date
Aeron conducted a successful token sale to crowdfund the project, which ended in October 2017. Since then, the project has successfully listed its token on cryptocurrency exchanges such as Binance, Bit-Z, Coinrail, KuCoin, TIDEX, and HitBTC. These tokens have been received enthusiastically by trading communities at the markets. However, ARN is not only a cryptocurrency or a crypto token, it is way more than that; it is the lynchpin for an entire aviation safety ecosystem. ARN tokens will play a central role in the industry as flight schools will be using ARN to book flight training, while private pilots will be able to find planes to rent and find schools. Airlines will also benefit, as they can check credentials of the pilots they are hiring. Even maintenance companies will benefit as they can order spare parts and be assured of their authenticity. With the launch of Aerons pilot log application on both Google and Apple, one of the major stated milestones of the project has already been achieved. This is a great step forward in promoting aviation safety with Aeron solution.
The Hanoi Department of Industry and Trade has prohibited organizations and individuals involved in e-commerce business in the city from using bitcoin and other cryptocurrencies. This follows a directive signed by the countrys prime minister intended to strengthen the legal framework of cryptocurrencies.
The Hanoi Department of Industry and Trade announced on Saturday that it has sent document No. 1638 / SCT-QLTM to organizations and individuals directly or indirectly related to e-commerce business in Hanoi [to] not use bitcoin and other virtual currencies (cryptocurrencies) to settle e-commerce transactions online. Citing that if violations are detected, they shall be strictly dealt with according to the provisions of the law, the regulator wrote:
The Department of Industry and Trade requires organizations and individuals who are directly or indirectly involved in e-commerce business in Hanoi to strictly abide by the above-mentioned regulations and do not use bitcoin and other virtual currencies.in payment of e-commerce transactions, online purchases and sales, [and] payment [of] online services in contravention of Vietnamese law.
The use of Blockchain could cut our supply costs up to 20%, says vice president of Samsung SDS. #NEWS
Black Swans & the Blockchain: #Gold Legends Interview w/ Morgan and Neumeyer Video Future Money Trends Video Source
The post Black Swans & the Blockchain: #Gold Legends Interview w/ Morgan and Neumeyer (Video) appeared first on The Daily Coin.
The real estate industry is estimated to be worth $217 trillion, making it one of the most lucrative sectors for investment. However, in spite of the high returns, it remains closed to a wide array of audience due to the high entry fee, slow ownership transfer, and high transaction costs. It has made the real estate industry an exclusive domain for the moneyed big boys. But the normal audience who craved for a slice of the real estate pie now has a reason to smile as Alt.Estate is here and looks forward to solving some of these problems and making it easy for you to venture and conquer the real estate pie.
Alt.Estate, a financial technology company has created the protocol and a platform for real estate tokenization to push the real estate market towards true-decentralization.
Driven by the urge to democratize the real estate sector, Alt.Estate aims to become an industry standard for the tokenized real estate transactions. According to the whitepaper, Alt.Estate Protocol consists of the smart contract technology, corporate structure and legal compliance features of property tokenization. It offers all big existing players real estate developers, brokers, marketplaces and crowdfunding platforms a turnkey solution for property tokenization with no infrastructure costs. Alt.Estates team has already created 20+ smart contracts and a smart contract builder which allows to develop hundreds and thousands of them in a quick and easy manner and to ensure the legal property rights with tokens.
According to the companys website, Alt.Estate aims at making real estate more accessible to the crypto traders, crypto owners, middle class as well as crypto whales. It makes it possible to buy and sell tokenized real estate assets in a trusted, fast and smooth manner with instant transactions at low costs. With Alt.Estate, anyone can list their property or part of it on the platform and at the same time, anyone can become a buyer. Alt.Estate eliminates the boundaries, third parties, prohibitive regulations and opens the market to a wide array of audience.
Alt.Estate will lower the entry ticket size. It will be possible to buy a fraction of a property from any part of the world. It will also be possible to sell a fraction of the property w...
MasterCard files patent for private Blockchain system to store, verify and protect identity data. #NEWS
Australian federal authorities have pinned multiple charges on a 32-year-old Brisbane woman for purchasing illicit drugs from the United Kingdom, using bitcoin. People shouldnt assume the dark web is invisible to Australian agencies warned Australian Border Force (ABF) Queensland regional commander Terry Price while announcing details of a joint-investigation with the Australian Federal Police (AFP)
The post Australian Authorities Charge Woman Over Darkweb Bitcoin Drug Buys appeared first on CCN
Bancor has announced the direct purchases of Ethereums native cryptocurrency Ether from their wallet using a credit card, Reddit commentators applauded the move.
Reddit and other social media platforms where cryptocurrency issues are debated are awash with users discussing the newly launched Bancor wallet function of buying Ether directly with a credit card.
The Bancor wallet now allows users to buy Ether directly with any major credit card. Galia Benartzi, co-founder of Bancor talked about the role of digital wallets in the new economy to TechCrunch saying,
Money is changing, and digital wallets must be as dynamic as the currencies they hold. Imagine if your coffee shop loyalty points were accepted at any cash register in the world, or your airline miles could buy cellular minutes with the click of a button Bancors new wallet aims to deliver on that promise by offering continuous access to crypto tokens and instant convertibility between virtual assets, unlocking enormous purchasing power for consumers,
Comments on Reddit about the new option were almost universally congratu...
CoinDesk examines the arguments for and against a proposal that would limit the total number of ether that could ever be issued.
Venture capital funds are the better choice for fundraising from the public rather than ICOs, according to the head of Hong Kong securities regulator. #NEWS
Malta is moving closer to introducing a test that would clearly define when assets derived from initial coin offerings are securities.
A Taiwanese miner allegedly failed to pay two gangster customers due to mainland Chinas Bitcoin policy. #NEWS
Earlier today, on April 16, the bitcoin price briefly remained above the $8,450 mark after recording a massive buy volume across major cryptocurrency exchanges. Cardano has surged by 11 percent as the second-best performer of the day and the market has come back to the $300 billion region. Independent Movements Throughout 2018, the vast majority
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Blockchain technology is making inroads in many different industries. Samsung, a global technology leader, is now keeping a close eye on this technology. The company plans to incorporate distributed ledgers to manage its global supply network. Samsung also shows a keen interest in manufacturing cryptocurrency mining equipment.
Cryptocurrencies have introduced the world to how blockchain technology can be harnessed for many different purposes. For Samsung, it seems this technology can serve as an immutable record to keep tabs on the companys global shipments. Incorporating a distributed ledger into the existing supply chain will help reduce shipping costs. For a company dealing with billions of dollars in shipments every year, any cost-cutting measure needs to be explored.
This new implementation is being developed with the help of SDS. Depending on how this measure turns out, the impact on Samsungs supply chains can be rather significant. In its current form, this industry relies on paperwork being sent back and forth between different parties. With a distributed ledger, coordinating with other parties and authorities becomes a lot more straightforward.
The technology in question will be trialed to handle most of Samsungs products. That list includes smartphones, displays, and so forth. If successfully implemented, blockchain technology will be a valuable tool in reducing the time between product launches and actual shipments. In terms of rivaling with other companies, this method can give Samsung a competitive edge in the industry.
This new announcement comes at a rather interesting time for Samsung. Over the past few months, it has become apparent the company is eyeing the cryptocurrency industry as well. More specifically, the firm has shown an interest in developing mining hardware components. For now, Samsung is ...
There are rumours afoot that ask.fm is going to launch a token sale in the not too distant future.
For those of you that are not familiar with Ask.fm, it is a Q&A social network with 215 million registered users. Maybe youve heard of Quora or in the coding world StackOverflow? Well, it is similar but bigger and caters mostly to young people and is arguably a little more frivolous.
Users can ask and answer questions openly or anonymously, which is ideal for young people who are embarrassed to ask stuff they think they should already know maybe mum and dad did tell them about the birds and the bees or they couldnt work out what their parents were talking about in that coded lingo.
Ask.fm is not so popular in North America and Asia but is well-known in Europe and the Eurasian side that was once part of the old Soviet Union.
With 85% of its user base aged under 25, this is the sort of platform that has advertisers salivating.
Ok, lets get to the evidence for the prosecution.
Exhibit one in the case for an imminent ICO: ask-fm.pro.
A mysterious website has been parked by the European-based company that promises a second iteration of the platform the page reads askfm 2.0. What might be the nature of the new-look askfm?
Askfm released an app update back in 2014 that it labeled askfm 2.0, so it is extremely unlikely that the 2.0 emblazoned on the parked website refers to another redesign. The 2.0 this time, perhaps, hints at something radically different, suggesting that Pro references more than just a look-and-feel refresh, although that might be something in the mix.
The case for a blockchain social network
By way of an expert witness to help us determine the nature of the radical departure askfm has in mind, we need to look beyond askfm itself to the wider social network sector.
You may have noticed that Facebook has had a little local difficulty recently. The Cambridge Analytica data breach has shone a light in the places Mark Zuckerberg didnt want us to see. If consumers were not aware of i...
Despite all the doubts and controversies surrounding the project, El Petro, the Venezuelan cryptocurrency, has recently received the Satoshi Nakamoto Prize from the Russian Cryptocurrency and Blockchain Association (RACIB) for its outstanding contribution to the development of the blockchain industry, according to the official community. The awards ceremony was held in Russia and was attended
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Bitcoin in Brief today is slanted toward a crypto winter slowly thawing, as Pantera Capital bets on a moonshot price point. Also, the worlds most popular decentralized digital asset has been forked more than a plate of good pasta; theres a growing list of countries whore less likely to nab your crypto profits; Yahoo! smashes rumors; and a good-hearted wager between bitcoin core and bitcoin cash partisans exemplifies how ecosystem actors should treat one another.
Also read: Bitcoin in Brief Saturday: Hide Your Seed
Bulls have a panther as their advocate to help thaw this crypto winter. We reported this week, Pantera Capital, an investment firm exclusively operating in the cryptocurrency and distributed ledger technology sectors, has published a letter predicting that bitcoin has established the low for its current bear market. Pantera cites a number of factors as informing its market outlook.
Japan is quickly becoming a global center for blockchain ventures and cryptocurrency firms. Despite the regions colorful historyinvolving Mt. Gox, for examplethe local authorities see merit in these new technologies in the global cryptocurrency industry. Major local conglomerates have begun to enter the sector, with some of them operating cryptocurrency exchanges.
When people discuss Bitcoin, the topic of Mt. Gox will come up at some point. This now defunct trading platform made the worlds leading cryptocurrency very appealing years ago. Unfortunately, the platform suffered from alleged hacks and other oddities. While many people see Mt. Gox as a black page in the history books, it also created a vibrant crypto ecosystem in Japan.
Ever since the exchange disappeared, the demand for regulation has grown. Investors lost a lot of money through this exchange, yet the interest in Bitcoin never waned. Local officials took a proactive approach to cryptocurrencies rather than banning it. Even the recent Coincheck hack has not diminished the positive attitude toward Bitcoin and other cryptocurrencies.
Japan stands out when it comes to the regulatory aspect. Various other governments including China, India, and some US states make it nearly impossible for crypto firms to exist, let alone thrive. The firm support for this nascent industry makes Japan a haven for this type of activity. Even major domestic firms are now entering this booming industry through various means.
A fair few technology and financial giants are based in Japan. Among those companies are Rakuten, Line, SBI, DMM, and GMO Internet. Every single one of these firms if currently active in the cryptocurrency world. Ranging from accepting Bitcoin payments to launching or operating a trading platform, the opportunities are virtually limitless.
GMO Internet is perhaps the most intriguing entity of them all. The company, valued at $2bn according to .....
Digital Ticks, the hot, new ICO in town is out with their First Look of Mobile app of their exchange well ahead of their schedule!
This is very exciting news as this is no ordinary crypto exchange. Digital Ticks is the first ever Commodity Crypto exchange. Users will be able to trade all the different types of crypto assets as well as commodity to crypto assets.
Why Digital Ticks?
The platform is the first ever commodity to crypto exchange to be built by the traders for the traders. With a simple to use User interface, it is designed to be used by both the novice as well as experienced traders.
The team believes in helping the investors make their decisions based on the work done and not based on plain statements.
The CCO of Digital Ticks, Mayur Poddar quoted saying
We want people to see the results and our progress first-hand, and we want to enable them to make an investment choice based on statistics rather than statements. This is again reassuring each and every participant of the ICO that their team is dedicated and will get the job done.
After the success and the huge participation received during the pre-sale whole team was extremely geared up to deliver a quality product ahead of the timeline.
The pre-sale contributions and the overwhelming response of the
contributors are both exciting and ensuring that Digital Ticks is
on the right path in the journey to make every commodity tradable
using crypto. And we believe that we are stepping into the future
of cryptocurrency with a new dream and our footsteps would be
followed by all others who share the same dream.
Quoted by CEO of Digital Ticks- Jitu Bajaj.
Companys decision to launch First look of Mobile App Interface at the same time as its Public token sale starts in fact prior to it is in contrast to most other companies which only have a white paper and website at the ti...
The deputy head of Hong Kong's Securities and Futures Commission has taken a skeptical tone in statements on initial coin offerings.
Heres what happened this week in Bitcoin in 99 seconds. Samsung has confirmed that it is providing chips to mine bitcoin, ether and assorted cryptocurrencies for hardware manufacturer Halong Mining. Halong Mining has remained relatively quiet regarding its new relationship, though its first miner, the Dragonmint T1, is already available for purchase. [...]
San Francisco based Ripple, owner the worlds third largest cryptocurrency, has made a plea to UK regulators to end the Wild West days of cryptocurrencies. The company has urged the UK to follow in Japans footsteps in implementing structured regulatory frameworks to encourage safe and legal investments into digital currencies.
According to The Telegraph, Ripples head of regulatory regulations, Ryan Zagone, called on UK regulators to strike a balance between capturing risk and enabling innovation. Three areas highlighted for suggested regulation were financial stability, consumer protection, and anti-money laundering.
Zagone compared the current status of the crypto industry to the early days of the internet and added;
Were at that time now where we need more clarity and rules and we need more certainty. Its a good time to start revisiting that wait and see approach taken by regulators,
Japan has led the way with cryptocurrency legitimization and regulation and is the worlds leading country for digital asset trading and investment. The UK has been a lot slower to react, possibly due to the Brexit negotiations dragging on and dominating national politics. UK Chancellor Philip Hammond unveiled a new taskforce in March which would help protect consumers.
Unsurprisingly Bank of England governor Mark Carney took the stance that most central bank bosses have and called for a clampdown stating that cryptocurrencies had the hallmarks of a bubble. Zagone argued that regulation is needed to help markets mature and draw in new entrants;
Regulation creates the guardrails on the highway that allows new entrants to come in, particularly institutional investors,
Bankers obviously favor complete crackdowns as their business model is threatened by decentralized currency. UK bank Barclays has made some bizarre moves by likening Bitcoin to an infectious disease...
Toughened bitcoin trading rules in mainland China may have led to a Taiwanese bitcoin miner being shot by gangland investors, a report suggests.
Cardano price is showing positive signs against the US Dollar and Bitcoin. ADA/USD may consolidate in the short term before a bounce back above $0.2250.
There was a nice upside move above the $0.2000 level in ADA price against the US Dollar. The price settled above the mentioned $0.2000 hurdle, which is a positive sign. It even traded above the $0.2300 level recently before facing sellers. A short-term top was formed at $0.2351 before the price started a downside correction. It declined and broke the 23.6% Fib retracement level of the last leg from the $0.1956 low to $0.2351 high.
Moreover, there was recently a break below a short-term ascending channel with support at $0.2200 on the hourly chart of the ADA/USD pair. The pair declined below the $0.2150 support. More importantly, there was a break below the 50% Fib retracement level of the last leg from the $0.1956 low to $0.2351 high. However, there are many supports on the downside near the $0.2060 level and the 100 hourly simple moving average. Therefore, if the price extends the current decline, there could be a strong buying interest near the $0.2050-0.2060 zone.
The chart suggests that the price is well supported above $0.2060, and it could bounce back after the current correction. On the upside, an initial resistance is near the $0.2250 level, followed by $0.2350. Above the stated $0.2350, the price may test the $0.2500 barrier....
Author: On Yavin, Co-Founder & CMO at Cointelligence
In the first two months of 2018, there were nearly 50 ICOs (initial Coin Offerings) raising over $1.1 billion by the end of February. Compare that figure to the $5.6 billion raised via Initial Coin Offering in 2017 and you get a good picture of just how important and popular ICOs will be in 2018.
Last year saw a total of 902 Initial Coin Offering projects. From that amount, 142 ICOs failed before their offerings, whilst another 276 ICO projects failed even after raising their funds. Just under half of all the ICOs in 2017 435 ICOs, or 48% were regarded as a success. From the $5.6 billion raised, 25% of which was raised by just the ten largest ICOs.
Given this trend, and the fact that the Telegram ICO planned for later this year has already raised $850 million of its expected $2 billion, 2018 promises to be a bumper year for ICOs. However, with increased competition and a tightened regulatory environment; the line between success and failure of an ICO in 2018 will be even finer.
How your Initial Coin Offering is marketed will have a huge impact on its success. Get the ICO marketing strategy right, and your ICO will raise the necessary funds and be a success long after the initial offering. Get it wrong, and your ICO will be consigned to the dustbin of history. Therefore, so many ICOs are now wisely employing the use of ICO marketing firms, or an ICO marketing expert, to deliver an optimized and successful ICO marketing campaign. ICO marketing agencies are not cheap, but if you want your ICO to be success, you require a multi-faceted approach to marketing your ICO. The right agency will know how to optimize the many varied traditional and non-traditional marketing channels. Planning an ICO marketing strategy from Day One is essential and should include the following items:
The website is the foundation of your Initial Coin Offering project. As with any structure, the foundation is the most important and you must ensure that you have something that is strong and lasting. Without a strong website, your Initial Coin Offering can crumble and collapse at any moment.
The website is likened to a shop window in which your...
Electronics manufacturing giant Samsung is considering a blockchain platform to manage and keep track of shipments of its vast global supply chain network. In a significant endorsement of blockchain technology, Samsung Electronics the worlds biggest chipmaker and smartphones manufacturer is considering a broad implementation of a blockchain ledger platform to track its global
The post Samsung Electronics Turns to Blockchain to Track its Global Supply Chains appeared first on CCN
The Brazilian market has lately been experiencing exponential growth in the cryptocurrency space with a steady increase in the purchase of virtual currencies. By the end of 2017, 1.4 million Brazilians engaged in either the purchase or sale of cryptocurrencies. Many of the Brazilian crypto-exchanges have recorded daily enrollment of new users steadily increasing from an average of 500 new users per day to numbers as high as 5000 a day. As a matter of fact, there are more investors buying virtual currencies today than there are in the stock market.
Effective Cutting-Edge Service with Greater Diversity of Currencies.
Despite this, the services provided by the primary Brazilian exchanges are deficient, and they are receiving countless basic complaints by users. The most frequent user complaints include lack of approval of new registrations, a delay in deposit approval, limited coin diversity, high rates in comparison to international offerings, and delays in withdrawal requests.
Having identified these problems, a team of developers set out to develop a platform designed to efficiently adjust to markets demand without compromising the primary user experience. CriptoHub identified an opening in the Brazilian market for a well-structured exchange that can solve the aforementioned issues by providing a more effective, cutting-edge service with a greater diversity of currencies and uncomplicated withdrawals.
Increased Agility When It Comes To User Withdrawals.
With a population of over two hundred million people in Brazil, the scope for CriptoHubs potential growth is huge. Currency is traded daily, averaging 75 million dollars in Bitcoins. It is estimated that the three largest Brazilian exchanges are handling transactions worth more than 500 bitcoins a day. Keep in mind that this number does not give consideration to transactions carried out through other coins.
Currently, the largest Brazilian exchange has recorded over one million registered users, with its closest competitor cutting it close with well over five hundred thousand users. CriptoHub plans to attract more than 1.5 million users. To reach these numbers, it will utilize the key differentiators they have compared to already existing crypto-exchanges. Based on the technical and practical findings, the CriptoHub team established that the current services provided by exchanges are flawed and require changes in order to supply greater scalability, more current technology, and increased agility when it comes to user withdrawals.
A new industry report predicts big gains for Bitcoin Cash matched by like declines in Ethereum as 2018 moves through late spring.
The report titled Cryptocurrencies: Past, Present, and Future in which researchers claim to have used a combination of historical data and a data-driven algorithm has resulted in some very optimistic predictions for the near future of Bitcoin Cash while calling for grim times ahead for Ethereum, saying it will plummet by more than $237 per unit in the next month or so. as reported by the Express.
2018 has been a rough start for cryptocurrencies across the board as the market feels the repercussions from the success and fears generated by the dramatic rise and fall in prices at the cusp of the new year. Confusion over regulation and warnings that the cryptomarket is an empty bubble have taken their toll on all of the top trading tokens but Ethereum may have suffered the most having lost around 70% of its value since its high mark of $1,338.67 in December.
Callum Blanchard a cryptocurrency data specialist for Cryptocurrency: Past, Present, and Future told the UKs Express newspaper that he wasnt surprised by the findings saying that though Ether had been one of Bitcoins main competitors because of its ability to allow blocks to be created quicker, investors today are looking for more unique features than ever.
Ethereum originally stood out for allowing blocks to be created quicker, but compare that to the likes of Bitcoin Cash, or even for transaction speed Ripple and Litecoin and suddenly even that isnt so unique anymore.
What Mr. Blanchard doesnt consider is that Bitcoin Cash and Ethereum were developed for very different purposes and that comparing them is apples to oranges. While both cryptocurrencies are based on the principle of distributed ledgers and cryptography they use different programming languages, have different block times and use different builds.
More to the point while Bitcoin Cash was created to increase the transaction speed of its predecessor, Bitcoin, so that it could be more readi...
Ripple price moved back in a bullish zone recently against the US Dollar and Bitcoin. XRP/USD could correct lower but downsides are likely to be limited below $0.6000.
There was a fresh upside wave initiated above the $0.6000 level in Ripple price against the US Dollar. The price traded higher and broke a few important resistances such as $0.6500 and $0.6600. It traded close to the $0.7000 level before it faced sellers. A high was formed at $0.6993 before the price started a downside correction. It declined and traded below the 23.6% Fib retracement level of the last wave from the $0.6238 low to $0.6993 high.
Moreover, the XRP/USD pair is currently trading below a short-term bullish trend line with support at $0.6800 on the hourly chart. However, there are many supports on the downside around the $0.6200 level. An initial support is near the 50% Fib retracement level of the last wave from the $0.6238 low to $0.6993 high at $0.6610. However, the most important support is above the $0.6200 level and the 100 hourly simple moving average. It wont be easy for sellers to break the $0.6200 pivot level.
Looking at the chart, the pair may correct further in the short term towards $0.6200 before it climbs up again. On the upside, the price is facing resistances near the $0.6800 and $0.7000 levels. Above $0.7000, the price will most likely test the $0.7500 level.
Taobao, often known as eBay of China has updated their policy banning Cryptocurrencies, ICOs, and other virtual currency-related services. Taobao is a subsidiary of Chinese eCommerce Giant Alibaba set up in 2003 where individuals and small business can list items for sale within China. Taobao previously had a ban on the sale of Cryptocurrency Miners
The post Alibaba Subsidiary Taobao Bans listing of Cryptocurrency and ICO Services appeared first on CCN
Something happened this week that rarely occurs, history offered up a side-by-side comparison with a control. Heads of respective social network and messaging platforms Facebook and Telegram were each brought before their home governments, the United States for Mark Zuckerberg, Russia for Pavel Durov. How the two men responded is telling, and should inform everyone concerned with privacy, especially cryptocurrency enthusiasts.
Mike Butcher at Tech Crunchs Disrupt back in 2015, put it to Pavel Durov of Telegram fame directly, Does it concern you ISIS uses Telegram? Mr. Durov looks away from his interviewer, Mr. Butcher, as if the answer is somewhere at the back of the room. Thats a good question, he says, considerately. Mr....
aBitcoin Price Key Highlights
Bitcoin price made a strong rally last week and more buyers could be waiting to join in on a pullback.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the climb is more likely to resume than to reverse. The gap between the moving averages is widening to reflect strengthening bullish pressure.
The 100 SMA is slightly above the 38.2% Fibonacci retracement level to add an extra support zone. The 200 SMA is closer to the 61.8% Fib and former resistance zone, making it the line in the sand for a correction. A break below the $7000-7200 region could signal that bears are getting stronger again.
Stochastic is on the move down to show that buyers are taking a break and allowing sellers to take over from here. RSI is also turning lower but nearing oversold levels to suggest that bullish pressure could return soon and push bitcoin price up to the swing high and beyond.
Bitcoin price has undone its drop that is seen to be spurred by the looming tax filing deadline on April 17. Traders are anticipating more gains for the cryptocurrency after the deadline passes as investors reopen their positions. Besides, Q2 ha been historically positive for bitcoin price, so it wont be surprising if investors pile on their bets before the end of the period.
Analysts are also picking up on the rebound in bitcoin volumes, despite the recent bans in India and Pakistan. Regulatory jitters are still in play but this seems to be outweighed by the news that big hedge funds are preparing to invest more in the space.
QUESTION: BitCoin has crashed and it looks like it will never be what people dreamed as some replacement for the dollar. Are bubbles always involving some failed product? A dream that is just unrealistic like the Tulip bubble?
ANSWER: No. There have been many, many, many bubbles throughout history. Some have been just crazy like the Tulip Bubble and others have been outright frauds like the Panic of 1825 which was a stock market crash following the same idea as the South Sea and Mississippi Bubble of 1720. This time, it was again a new emerging market country that was completely just a fraud. It was a wild speculative investment in Latin America, that was all about an imaginary country of Poyais. The stock market boom became a bubble and banks caught up in the euphoria made risky loans all on this imaginary new market.
Ethereum price is positioned nicely against the US Dollar and Bitcoin. ETH/USD may correct lower, but it remains in an uptrend above the $490 support level.
The past few sessions were positive for ETH price above the $500 level against the US Dollar. The price extended gains and traded above the last swing high of $533. However, the move was contained and the price traded as high as $537.81. Later, a downside correction initiated and the price declined below $530. It also traded below the 23.6% Fib retracement level of the last leg from the $481 low to $537 high.
However, the downside move remains limited since there are many supports near $500. There is also a key bullish trend line forming with support at $510 on the hourly chart of ETH/USD. Moreover, the 50% Fib retracement level of the last leg from the $481 low to $537 high is also near $509. Therefore, a break below $509-510 wont be easy. If sellers succeed in pushing the price below $509, it could trade back towards the $500 level. The next major support is close to the $490 level and the 100 hourly simple moving average.
Looking at the chart, the current price action is positive above $490. However, the price must gain traction above the $535-540 resistance zone for more gains. Above $540 resistance, the chances are high of an upside break above the $550 level.
Hourly MACD The MACD is currentl...
A green start to the week is a good sign in crypto land. Weekends usually spell a selloff but positive buying pressure has been maintained this morning in Asia and crypto markets have remained well above $300 billion. Bitcoin has made gains above the key $8,000 level and is currently trading just over a percent higher on the day at $8,150. Nearly all of the altcoins are in the green this morning and one leading the charge at the moment is Nem.
Coinmarketcap is reporting a 15% increase in XEM over the past 24 hours. Currently trading at $0.35 Nem has risen from $0.30 this time yesterday and has posted the largest gain among the top 25 cryptocurrencies. Weekly gains have also been strong as this altcoin has climbed 52% from $0.23 this time last Monday. Over the past month it has regained all losses and is trading at the same level once again. Compared to Bitcoin Nem is up around 14% to 4350 satoshis from 3800 sats the same time yesterday. Since last Monday it is up almost 30% from 3375 satoshis at the beginning of last week.
The Nem developer team has been very active with a number of well publicized meetings and conferences across the globe in recent weeks. The altcoin seems to be recovering from the Coincheck hack which resulted in the theft of over $500 million in XEM tokens. The exchange has reimbursed most of the losses back to its customers. Nem had a tough month in March, losing around 43% of its value in that month alone. It seems to be on the way to recovery now as crypto markets rebound a little.
The majority of Nem trade has been carried out in Japan in the past 24 hours with Zaif exchange taking almost 40% of the total volume in JPY. South Koreas Upbit has second share with 24% in KRW. Total volume is around $100 million and Nem has a market cap of $3.2 billion which ranks it at 11th place.
Total crypto market capitalization has increased 2.5% over the past 24 hours and currently stands at $329 billion. However, this rally still has a long way to go before it can be considered a true reversal. Other altcoins with solid gains during the mornings Asian trading session include Cardano, Stellar Lumens, Bi...
Bitcoin cash price is placed nicely in a bullish trend above $740 against the US Dollar. BCH/USD must clear the $800 hurdle for more gains in the near term.
There was a decent upside move in bitcoin cash price above the $780 level against the US Dollar. The price surpassed the last swing high and tested the $800 resistance area. However, the price failed to surpass the mentioned $800 resistance, and there was a slight bearish reaction. A short-term top was formed near the $799.9 level before the price started a downside correction.
It traded below the 23.6% Fib retracement level of the last upside wave from the $720 low to $799 high. At the moment, sellers are attempting a close below a major contracting triangle forming with support near the $775 on the hourly chart of the BCH/USD pair. A successful close below the mentioned $775 level could push the price towards the next support near $750. The 61.8% Fib retracement level of the last upside wave from the $720 low to $799 high is also around $750.
Looking at the chart above, a major support is near the $740 level and the 100 hourly simple moving average. Therefore, as long as the price is above $740, it remains supported for a break above $800. On the upside, resistances on the way up are $780, $800 and $820.
Looking at the technical indicators:
Bitcoin was created to bring back peoples control over their own hard-earned money. Perhaps no greater example exists of how we dont currently have real influence over how our capital is being spent than banks getting bailouts from the government at taxpayer expense.
Governments all over the world have been bailing out companies for decades, if not longer. And it seems that whenever a financial crisis arises, failed businesses call on the authorities to save them. While directly giving funds or just sweetheart loans to physical companies such as car manufacturers, airlines and the like is harmful to the economy, it is usually easier for the public to accept in order to save...
Bitcoin case study: Aniket Patel is an Indian teenager and cryptocurrency investor who is still working on his school exams. Despite this, Patel spends more time checking the Reserve Bank of Indias (RBI) website than scouting for exam results.
This is because Patel considers himself a long term HODLer who is not looking for quick cash, but instead hoping to grow his investments. Despite the fact that Patels holdings are now almost twice his initial investment, he is in it for the long haul, he says, and isnt looking to get out anytime soon.
Since the RBIs crack down on digital currency exchanges earlier this month, Patel has been visiting the banks website regularly to check for further directions from the regulator in the hope that its order will be reversed or eased.
I do not use any local exchanges to conduct my transactions anyway, so I am not affected by the ban but I do have some holdings in my fathers account on a local exchange and those we will move to a private wallet within three months. But there is no point selling since we have held these for long and the market is right now at a loss.
Patel is among the many millions of digital currency investors who have been directly affected by the central banks order, announced on April 5th, which stated that the RBI was barring banks and financial institutions from dealing in digital currencies. Per the order, RBI has given consumers three months to wind up business interactions related to cryptocurrencies.
As might be expected, while digital currency exchanges in India are keeping quiet, traders (like Patel) on these exchanges are unwilling to liquidate their holdings just yet as they wait for the market to move up again.
In a perhaps unintended consequence of the RBIs orders, the banks directive proved opportune for a lot of traders who used the dip in Bitcoins price to their advantage by buying more and holding it in their private wallets (rather than with local exchanges) with hopes of making future gains when the market improves.
New patent filings from Mastercard explore a blockchain-based identity data storage system.
Bitcoin doomsayers have once again called it too early. Bank of America Corp., the second-largest bank in the US by total assets, announced that the greatest bubble in history is popping. Somehow, it doesnt seem that way. The price of Bitcoin has broken above the $8,000 mark and has steadily collected gains over the weekend. Yes, this could be just a simple short squeeze before the very imminent demise of the cryptocurrency market, but what has history taught us?
Bitcoin is one of the greatest bubbles in history, Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch, wrote in a note Sunday. Hartnett leads a research group that concluded the Bitcoin bubble has already burst. Equipped with an X (Years from Peak) and Y (Multiple from starting level) chart, the group says the cryptocurrency peaked in December, when it reached $20,000, and is on a post-peak mode.
To back up the solid reasoning, Hartnetts team compared its price behavior to other famous bubbles in history: the 1929 crash, Gold, South Sea Company, Mississipi Company, and of course, the Tulip Mania in 17th century Netherlands. The much-disputed race for the biggest speculative bubble in history clearly has a winner: Bitcoin. The digital currency was able to nearly multiply its value by 60 at its peak. That is 150% the value of tulips at their best.
That was an interesting chart, but does it serve as evidence that Bitcoin is a bubble and that it has burst? Of course not. I guess they claim the bubble has burst because Bitcoin has fallen over 65 percent from its December peak. But how seriously should we take such light analysis? Any differently than the Economist story in 2011? Or the CNN story in 2013? Or the CNN story in 2015?
BITCOIN, briefly the worlds favorite cryptocurrency, is in trouble. It plummeted from a peak of around $33 per unit i...
There are several reasons to discount the contribution of tax-related selling to the Q1 bear market and thus the chances of a post-April 17 rebound.
The Bermuda Monetary Authority has issued a consultation paper on draft regulations pertaining to virtual currency businesses and initial coin offerings (ICOs). The proposed bill seeks to create a framework that encourages and fosters the development of Bermudas nascent cryptocurrency industry.
The minister of national security, Wayne Caines, described the proposed regulations a landmark legislation for Bermuda, adding that The emergence of new financial products and services created through the use of technology has opened new and exciting opportunitie...
In just two days, the U.S. tax filing deadline, April 17th, will be here. Despite this, only a very small fraction of Americans have reported their cryptocurrency holdings. In fact, data released from Credit Karma reveals that fewer than 100 people out of the most recent 250,000 filers using the tax platform reported capital gains on their cryptocurrency investments.
Theres a good chance that the perceived complexities of reporting cryptocurrency gains are pushing filers to wait until the very last minute, Jagjit Chawla, general manager of Credit Karma Tax, told CNBC in an email. I want to reassure people that its not as complex as it may seem at first glance and that Credit Karma Tax has a number of resources about how to approach bitcoin and taxes.
According to the International Revenue Service (IRS), which began providing guidance on Bitcoin transactions over four years ago, the agency considers cryptocurrencies to be classified as property. Because of this, the purchase, sale, trade, and mining of digital currencies could be considered taxable events.
Credit Karma, the popular credit score website and tax platform, has documented information from the IRS which details those individuals reporting capital gains from cryptocurrency investments. According to the company, less than 100 people have reported these taxable events to the IRS out of the 250,000 most recent tax filers, just days ahead of the deadline to file.
The figure, which amounts to about 0.04% of tax filers, is not far off from previous ones. For example, for the 2015 tax year the IRS indicated that only 802 people had included cryptocurrency gains or losses in their tax filings. That said, because of the massive differences between 2015 and 2017 with regards to the popularity of the cryptocurrency space, comparisons are difficult to draw.
Bitcoin multiplied more than 13 times last year, while the cryptocurrency market in its entirety gained well over $500 billion in value. As a result, U.S. households likely owe $25 billion in capital gains taxes for their digital currency holdings, according to estimates from Tom Lee, hea...
As equity markets were struggling with uncertainty, crypto has experienced its best week of 2018 so far. #MARKET_ANALYSIS
A number of Chilean cryptocurrency exchanges have sought to appeal the recent decision by several Chilean banks, including state-owned Banco del Estado de Chile, to suspend the accounts of cryptocurrency exchanges.
It has been...
Brazils largest cryptocurrency exchanges, including Bitcointrade, Mercado Bitcoin, Foxbit, and others, recently joined forces to create a cryptocurrency association whose goal is to defend the interests of cryptocurrency users. The organization, dubbed Associao Brasileira de Criptoeconomia (ABCripto) recently found out other companies created a rival association. Headed by fintech firm Atlas Project, other crypto-related companies Continued
The post Brazilian Crypto Businesses, Exchanges Create Rival Cryptocurrency Associations appeared first on CCN
Irrefutably, Bitcoin and most altcoins are bottoming up. However, its all about fundamental events and supply-demand dynamics that could affect price movement of most these altcoins especially EOS which had its EOSDAC air drop on April 15. In my view and basing my forecast on EOS technical analysis, prices might retrace back to $6.
Lets have a look at these charts:
In the last 24 hours alone, Stellar Lumens is up 16.28 percent. Even though there is little to talk on the fundamental front, its obvious that Stellar Lumens is ending the week at a stronger footing. Week over week, its up 44.68 percent and is the 3rd most performing coin in the top 10 after IOTA.
When it comes to the charts, the daily chart gives us a better glimpse of price action. As we can see, bull momentum is up. Most notably though is the banding that is in its earlier stages. Check out those bullish candlesticks moving along the upper BB. It means buy momentum is strong and all we have to do is to look for buy entries in lower chart.
In my view, buying on dips at around $0.27 can be profitable and in that case, feasible bull targets should be $0.4 and $0.5 on the upper end.
Of all the high performing coins bottoming out last week, IOTA is a stand out. Not only is it up 66 percent in the last 7 days, it has more potential for further ups...
Cryptocurrencies may soon land the white whale of the investing industry: institutional funds such as pensions and endowments. Thats according to Ari Paul, chief investment officer at cryptocurrency hedge fund BlockTower Capital, who told CNBC that he believes its inevitable that these institutional investment funds will add cryptoassets to their portfolios sooner rather than
The post Inevitable that Pensions and Endowments Make Crypto Play: Hedge Fund Exec appeared first on CCN
A Rare Chance to Partner With an Investment Legend Who Has Built Two Billion-Dollar Companies.
A sector that has been overlooked by Wall Street and ignored by brokers is about to violently turn higher
The writing is on the wall.
Im going to bet that you can already feel what Im about to tell you in your stomach.
Your intuition and senses know its inevitable, but the day of what will potentially be the biggest score of profits seems to always find a way to be delayed
Youve heard about the exploding government deficits, artificially low interest rates, a ballooning national debt, a Federal Reserve with no exit strategy, and a coming crisis that could be much bigger than 2008.
In fact, youve probably taken some steps to prepare, but all this waiting and all the pain from holding things like gold, Bitcoin, mining shares, and even cash while the general markets have continued to melt-up and set record highs have left many investors frustrated, to say the least.
Rarely do any of us get an opportunity like this. Ive honestly never seen a set-up this good.
What youre about to witness in the most hated sector on Earth is a rip-roaring recovery, perhaps one of the most violent rises higher weve....
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