South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency. Also read: Regulatory Roundup...Read More
Cryptocurrency-related trends on Twitter are not an official market indicator. However, it would appear that #bitcoin has been trending in South Africa over the past 48 hours. It is always interesting to see bitcoin trend on social media. South Africa Goes Crazy Over Bitcoin When this happens on Twitter, it is often to find the...Read More
Despite calls for its imminent demise, bitcoin has printed higher lows almost every year since it was born. Here are four reasons why the leading cryptocurrency is just getting started. | Image: shutterstock.com Bitcoin delivered investors the highest return on investment (ROI) of any security in any asset class in the 2010s. Jack Dorsey’s Square...Read More
In less than a decade, Bitcoin and Ethereum have captured the attention of people around the world. Born during the time of recession and excessive pessimism, Bitcoin aimed to revolutionize payments. Soon thereafter, Ethereum became the world’s leading smart contracts platform. However, when it comes to the distribution of coins, they differ vastly. Bitcoin and...Read More
On the most recent episode of the ‘What Bitcoin Did’ podcast, Jack Mallers, Founder of Zap, a Lightning Network wallet, spoke to host Peter McCormack about the use-cases for Lightning and its role in the future of money. During the podcast, McCormack spoke of how citizens in El Salvador were using Lightning to make payments...Read More
With 2019 now in the history books, looking back at the year it was a rollercoaster ride for Bitcoin traders, with the asset reaching lows around $3,000 then rallying by 350% to $14,000 before falling back down to $6,500 at a local low.However, according to one analyst, that rollercoaster ride is about to get a...Read More
Ripple’s controversial native token XRP closed 2019 at a substantial loss, but according to a prominent analyst, the cryptocurrency is ready to break the bearish jinx in 2020.Crypto Michaël, a popular cryptocurrency analyst on Twitter, spoke about this on Wednesday, saying that the XRP-to-dollar exchange could undergo a massive trend reversal this year. The top crypto...Read More
Trevon James, a former promoter of the famous cryptocurrency Ponzi scheme, BitConnect, made a Bitcoin prediction in 2018, which he must be regretting today. Back in 2018, he said that BTC’s price will be $10 on January 1st, 2020 and that he would eat his own dog’s excrement live on the internet if this is...Read More
The US central bank’s effort to expand its balance sheet through a pseudo-quantitative easing program could prompt bitcoin to pursue its next bull run.Since October, the Federal Reserve has been buying $60 billion worth of T-bills every month. Moreover, the organization is purchasing another $20 billion in MBS and TSY maturity investments, alongside tens of...Read More
Five years ago, the crypto community became aware of an alleged contract called the Tulip Trust. The supposed contract emerged when a few tech-based news outlets published stories on two former business partners Craig Wright and David Kleiman. According to the Tulip Trust contract story, Wright and Kleiman were ostensibly part of the group that...Read More
A fall in an important Bitcoin-related metric with ties to overall crypto market sentiment over the past couple of weeks, suggests that recent price action across the crypto market has traders and investors increasingly fearing that the bottom isn’t in for Bitcoin, and may be adjusting their expectations and preparing positions in anticipation of the...Read More
Following Bitcoin’s meteoric rise into the public eye back in 2017, nearly every economist, analyst, and even regular Joe had a prediction for what the first-ever cryptocurrency would eventually be valued at.However, few predictions are as famous as that of cybersecurity expert John McAfee, who put a particularly valuable wager at risk if his prediction...Read More
“Today we know that centralization and big bureaucracies have not, as promised, been the answer for promoting better opportunities for society” ~ Carlos Salinas de Gortari To ASIC or not to ASIC has been the dilemma for years now. For some, the distinction is very easy; it comes down to choosing between centralization and decentralization....Read More
The Bitcoin (BTC) record is showing one indicator of extreme growth this year – the count of Unspent Transaction Outputs, or UTXO. This growth points to several potential explanations. UTXO Growth May Signal Coin Mixing Activity Each bitcoin transaction has the potential to generate UTXO, or “change”, which is then redistributed to a change address....Read More
When Bitcoin was created in 2009, it aimed at becoming the universal currency of the world, one that could be both a Store-of-value [SoV], as well as a Medium-of-exchange [MoV]. The problem was, to many, that these two objectives would curate the cryptocurrency very differently. The consequence of this debate led to faultlines being made...Read More
While bitcoin price may be going through a period of consolidation at the moment (and frankly, after the year that was 2019, who isn’t?), the network fundamentals are as strong as ever. In fact, the hash rate is currently almost seven times as large as it was during BTC’s all-time high price, back in December...Read More
The US Coast Guard has issued a security warning following a ransomware attack on a federally regulated maritime facility. The intrusion at the unnamed facility, caused a 30+ hour shutdown of primary operations while a response was conducted. Coast Guard Caught Phishing The Ryuk ransomware is believed to have gained access to the facility’s IT...Read More
Over the holiday season, Bitcoin (BTC) has stalled in the low-$7,000s, finding itself stuck between a rock and a hard place. Although some say that this is indicative of an impending return to the $6,000s, then the $5,000s, a growing sentiment suggests the leading cryptocurrency could trade in the $8,000s and $9,000s in the coming 30...Read More
The Bitcoin UTXO count hit an all-time high in 2019, despite the price dropping by a massive 68%. BTC hit its local high in a bear run on June 26, a day when 1 BTC was worth $13,800. However, the BTC holders seem to have been unfazed by the drop as the UTXOs have been...Read More
In a recent tweet, Casa CTO Jameson Lopp reported that the network hashrate for Bitcoin had increased by 162% over the course of 2019, from 38 to more than 100 exahashes per second. While price fluctuation can be seen as an indicator of investor sentiment, hashrate can be used to determine network adoption. While miner...Read More
Bitcoin closed 2019’s final fiscal quarter in losses.The benchmark cryptocurrency is down by circa 21.5 percent on a quarter-to-date basis. The move downhill has extended its half-yearly losses to 33.35 percent.Bitcoin in a deep downtrend since July 2019 | Source: TradingView.comNevertheless, exponential gains during the first two quarters have kept bitcoin inside positive territory. From...Read More
Bitcoin’s price has been under the $7,600 range for over a month now. Even with 3 major retests of the resistance at $7,660, Bitcoin’s price hasn’t managed to breach it. With the formation of a double bottom in a medium time frame, this was supposed to change. However, it hasn’t so far. BTC 4 Hour...Read More
Bitcoin price is slowly declining and recently tested $7,100 against the US Dollar.The price is currently recovering, but likely to face hurdles near $7,280 and $7,320.There was a break above a major bearish trend line with resistance near $7,185 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair might slide further...Read More
The scaling of different cryptocurrencies remains crucial. Nano, an often overlooked altcoin, is seemingly on the right track to achieve this goal. All of these discussions need to be taken with a grain of salt. Nano Nails Scaling Properly Altcoins often tend to scale better than bitcoin, yet it doesn’t necessarily help them gain traction....Read More
During the course of 2019, the most used BTC-based OP_Return protocol, Veriblock, outshined Omni Layer outputs. According to statistics, Veriblock captured 57% of BTC’s OP_Return outputs in 2019. Ever since the protocol’s opcodes started dominating, a number of BTC influencers called the outputs “abuse” and “spam.” Also Read: Central Bank Gold Hoarding Hits 50-Year High...Read More
Bitcoin’s recent series of rejection within the mid-to-upper $7,000 region has resulted in BTC’s bears gaining an edge over bulls, as the cryptocurrency is now retreating down to its key $7,000 support level, which appears to be growing increasingly weak.Importantly, one analyst is now noting that Bitcoin could be on the verge of seeing significantly...Read More
Bitcoin Bitcoin tested towards the lower end of its short-term trading range on the last trading day of December, as cryptocurrency traders looked to the BTC/USD pair’s yearly price close. The number one cryptocurrency traded around the $7,200 level in early Tuesday trading, marking a loss of around 2% from the weekly price open. At...Read More
Recently, on the ‘What Bitcoin Did’ podcast, host Peter McCormack spoke to the founder of Lightning Network wallet, Zap wallet. Jack Mallers, who spent the last four months performing extensive user research with regard to the Lightning Network, spoke about its actual value, what it can accomplish, as well as its institutional use-cases. According to...Read More
The aftermath of Bitcoin’s recent rally up to highs of $7,500 – and subsequent rejection – has been grave for bulls, as BTC has been caught within a strong downtrend that is leading the cryptocurrency down to its key support region that exists around $7,000.It is important to note that one key factor is currently...Read More
You probably already know that Nouriel “Dr Doom” Roubini is no fan of Bitcoin. The professor and economist has frequently sounded off against the crypto asset space in recent years.What you might not know is that Roubini also has something of a musical side. His most recent offering sees him take on and rework Taylor...Read More
