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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Hosted by CoinEx Chain Foundation, “CoinEx Chain Global Nodes Election Launch Conference” was successfully held in Shenzhen on Oct 16. The conference marked the official launch of CoinEx Chain’s nodes election. More than 500 blockchain practitioners, including investors, KOLs, technical and financial experts, as well as top institutions and medias attended the conference to witness the important milestone of CoinEx Chain. Global Nodes Election Kicks Off & Hoo.com, RockX, IFWallet and CETDAC Announced to Join as Nodes Partners During that conference, Eddie Jiang, CMO of CoinEx, introduced the detailed rules of how to be one of CoinEx Chain’s 42 nodes and their related rewards. The profits of nodes are mainly from block production reward and transaction fees. CoinEx Foundation will offer 350 million CET (CoinEx Token) in total as block production reward. On the same day, Hoo.com, RockX, IFWallet and CETDAC announced to join CoinEx Chain’s nodes election. The founders of those entities attended the Shenzhen conference and expressed their bullish prospect about CoinEx Chain. “We strongly recognize the vision of CoinEx Chain and are willing to be one of the nodes and participate in the ecosystem building”, Ruixi Wang, founder of Hoo.com said on the conference. Exploring the Next Generation of Public Chain On the conference, the core team members of CoinEx Chain delivered keynote speeches to attendees about the mission, design concepts and prospects of CoinEx Chain. Haipo Yang, founder & CEO of CoinEx, had this to say on the conference. “Public chain is the most important infrastructure, or even the essence, in the blockchain industry. The ultimate goal of CoinEx Chain is to lead the next generation of public chain for decentralized finance.” Jiazhi Jiang, Lead Developer of CoinEx Chain, introduced CoinEx Chain’s technical innovation to solve the current bottlenecks of public chain. “Currently, the development of public chains are faced with many problems: performance, expansibility, privacy protection, cross-chain, etc,. CoinEx Chain’s solution is the parallelism of dedicated public chains: DEX Chain, Smart Chain and Privacy Chain, each of which performs its own functions, by cross-chaining for both high performance and flexibility.” CoinEx Chain World Tour Following the Shenzhen conference, CoinEx Foundation will continue world tours in Shanghai, Wuzhen, Beijing, Singapore and Hong Kong to showcase CoinEx Chain’s innovation to blockchain professionals and recruit node partners from all the world. The core team members will introduce the product design concept and future development plan of CoinEx Chain. Attendees can directly talk to the core team members to discuss the prospects of CoinEx Chain and exchange views about the nodes election. About CoinEx Chain CoinEx Chain is the world’s first public chain exclusively designed for Decentralized Exchange (DEX). CoinEx Chain aims to create a decentralized trading system with community-driven operations, transparent trading rules, and self-controlled user assets. Besides the DEX Chain, CoinEx Chain will also include a Smart Chain supporting smart contracts and a Privacy Chain protecting users’ privacy. Ultimately, CoinEx Chain will become a perfect ecosystem powered by the parallel public chain architecture. Follow CoinEx Chain on Social Channels: Twitter: https://twitter.com/CoinExChain Facebook: https://www.facebook.com/CoinExChainOfficial/ Telegram: https://t.me/CoinExChainOrg Email: pr@coinex.com Website: www.coinex.org This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post CoinEx Chain Elects New Node Partners appeared first on Bitcoin News. View the full article

Telegram’s token might have received short shrift from the SEC, but its messaging app has been embraced everywhere by everyone. 300 million users attest to the success of Pavel Durov’s end-to-end encrypted platform, which has become a mainstay of the crypto community. On the rare occasions when Telegram experiences an outage, there is a discernible dip in cryptosphere chatter. The rest of the time, crypto Telegram is a hive of activity. Here’s a selection of what it has to offer. Also read: Tax Guide: What Crypto Owners Should Know Telegram Is Alive and Well in 2019 In 2018, following a short-lived flirtation with Slack and Discord, the cryptosphere set up camp on Telegram, where it’s been embedded ever since. If crypto Twitter is for serious discourse, thought leadership and occasional mud-slinging, crypto Telegram is for more ephemeral – but no less vital – discourse: trading, accessing market data, catching up on industry news and sharing dank memes by the sticker set. And then there’s the token sales of course, for it wouldn’t do to forget them. Even in the post-ICO era, the rules of IEO engagement mandate a healthy Telegram following for crypto projects. Their Telegram channels serve as a focal point for updating the community on projects, token sale dates and bounty campaign opportunities. Token sale monitoring service ICOspeaks has assembled a shortlist of the most popular Telegram crypto channels. It includes a selection of leading cryptocurrency news and exchange feeds, in English and Russian. To that list can be added the following channels which provide a snapshot of what crypto Telegram has to offer. ICO Drops A lot of the prominent Telegram channels have “ICO” in their name as a hangover from 2018, despite their content being far broader these days. ICO Drops is a case in point. It still covers token sales, but its most valuable content touches upon general industry news: Bakkt; custodial solutions; SEC enforcement. Its accompanying infographics provide a tl;dr for those who don’t have the time to read full articles. ICO Analytics ICO Analytics falls into the same boat as ICO Drops, but it’s not just another clone: the quality of this channel’s research speaks for itself. If you’re looking for figures on token sale ROIs, exchange token performance and other metrics, you’ll find it here, neatly packaged into bar graphs and charts. Cointrendz One for the swing traders, Cointrendz provides a steady stream of updates on which cryptocurrencies are breaking out. Or pumping, as it’s better known. If your strategy involves following the volume and skimming what you can off the top, Cointrendz has got you covered. Cryptonomia does a similar job. News.Bitcoin.com It’s a given that you’ve got to shill your own channel in a round-up of this nature, so here’s ours. A stream of all the articles that get published on news.Bitcoin.com. Click ‘em if you like the look of the preview snippet. If you don’t, don’t. For pure Bitcoin Cash news, meanwhile, the unaffiliated and aptly named Bitcoin Cash News will hit the spot, while Spanish speakers should check out Crypto Noticias. The Crypto Room All of the channels up until now have been read only, which is fine for absorbing information, but when you want to interact you need to hit up a discussion channel that’s open to anyone. There’s a plethora of candidates to choose from, but for focus and flow (some channels are so popular they move too fast), The Crypto Room gets it about right. Best Telegram Bots It’s not just the people that make crypto Telegram so essential: it’s also the bots – the benevolent ones at least. Telegram bots can perform a host of useful functions, from displaying wallet balances to providing price alerts and facilitating crypto swaps directly within the app. Always perform due diligence on the team behind a Telegram bot before admitting it to your channel, though, just in case it’s doing more than passively responding to your commands. Popular bots and automated services include Tokenstats, @Cryptowhalebot, @tracktxbot, @Cryptocurrencyalertingbot, and @buttonwalletbot. Button Wallet lets you send and receive crypto in Telegram Botje11 Everyone’s got their favorite crypto chart reader, a guru who appears to have the ability to sift through the tea leaves on Tradingview and predict where the market’s headed. Yours probably isn’t Botje11, but he’s a good example of what Telegram chart diviners do: provide solid analysis, couched in just enough disclaimers to retain their credibility whatever way the needle moves next. Binance Research The research arm of the world’s largest cryptocurrency exchange is arguably one of its strongest divisions. Binance Research is right up there with Bitmex Research and Coinmetrics for the quality of its original reporting, and its Telegram channel is filled with deep dives and fun factoids. Rekt Plebs The anti-trading channel, Rekt Plebs will teach you what not to do. In short, don’t buy shitcoins. What are your favorite crypto Telegram channels? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post 10 of the Best Telegram Crypto Channels appeared first on Bitcoin News. View the full article

Crypto-passionate street artist Pascal Boyart, well known in the space for being the first artist in his style to affix Bitcoin QR codes to his work, is now helping Venezuelan muralists and creators earn crypto. The Paris-based “Pboy,” also famous for hiding BTC in his graffiti-meets-classic-art murals, has teamed up with local organization Satoshienvenezuela, creating a tutorial for up-and-coming creatives in the volatile nation. Also Read: Europol Predicts Rise of ‘Criminal’ Crypto Exchanges in Digital Underground Subversion and Survival Thanks perhaps to the subversive nature of crypto, the world of permissionless digital money and the world of art have, in a sense, always gone hand in hand. Pascal Boyart embodies this unique nexus in his works, which feature classic themes clashing with modern issues in compelling fashion. The painting he used to hide his “Bitcoin puzzle,” for example, riffs on the classic Eugène Delacroix work “Liberty Leading the People,” with the goddess of liberty herself depicted as leading the modern yellow vest protest movement. The politically charged nature of Pboy’s art lends itself naturally to consideration of other human beings in similar unrest and crisis, and especially artists who need funding for their works. Teaming up with the Satoshienvenezuela community, Pboy has just released a tutorial breaking down step-by-step how street artists in the economically embattled South American country can earn crypto from their art. The English version of the article, entitled “Tutorial: How to receive Bitcoin donations on your Street Art pieces,” is a highly detailed breakdown of Pboy’s methods for affixing QR codes to his art. He writes: For 2 years, I’ve receive more than $12500 (1.20 bitcoin) on the QR codes affixed to my frescoes. These donations, which are like a form of crowdfunding, have brought me a lot in my creative process. It helped me finance my projects: buy some much needed equipment and subsequently gave me a breath of freedom for my creations. Pboy is not pretentious or presumptive at all in his tutorial. He starts from step one, detailing for complete newbies how to make a bitcoin wallet, save the seed phrase, and create a unified Bitcoin presence on one’s various social media. Boyart goes on to outline two options for affixing Bitcoin QR codes to a work: a rather straightforward print and paste job, and a more complicated (but much more interesting) stencil and spray paint approach. The piece culminates with a cheerful “Good luck and good creation!” and includes an FAQ section with questions like “Why use Bitcoin?” Pboy notes that “The money you receive is 100% in your possession because you are the unique owner of your private key (recovery phrase, or “Seed”), unlike other centralized means of payment (Banks, Paypal, Kickstarter, Patreon…), Bitcoin works without a third party. It is decentralized.” “The Raft of the Medusa 2019” is inspired by the famous painting of #Géricault realized between 1818 and 1819. The scene of sinking was revisited to create an allegory of the current world through various elements added or modified compared to the original work. pic.twitter.com/Wj3JrIBdap — Pascal Boyart (@pascalboyart) September 30, 2019 The Creative Power of Crypto As news.Bitcoin.com has reported previously, cryptocurrency is proving to be a valuable asset in the battle against poverty, hunger and inhumane political dominance in Venezuela. With artists like Pascal Boyart, charity initiatives like Eatbch and decentralized, P2P trading platforms like local.Bitcoin.com, what a government may mandate matters much less, as there is now a money that doesn’t have to be approved by an untrusted third party to be spent. So, in the name of the goddess of liberty, many artists and crypto enthusiasts alike are wishing innovators like Boyart godspeed and happy Satoshi-inspired subversion of the powers that be. What are your thoughts on Boyart’s work? Let us know in the comments section below. Image credits: Shutterstock, fair use. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Street Artist Pascal Boyart Helps Venezuelan Creators Earn Crypto appeared first on Bitcoin News. View the full article

Telegram, the most popular messenger in the crypto community, is facing challenges surrounding the launch of its TON blockchain. Following an intervention by the U.S. securities regulator, a court hearing on the sale of the native gram tokens is scheduled to take place a week before the network was expected to go live. Also read: More Nations Join the Club of Crypto-Friendly Jurisdictions NY Court to Review SEC Complaint Against TON The United States Securities and Exchange Commission (SEC) announced last week it had obtained a temporary restraining order for Telegram’s allegedly unregistered coin offering. According to the lawsuit filed by the SEC, the Court for the Southern District of New York will review the case against the messenger’s ICO on October 24. Telegram’s anticipated initial coin offering (ICO) was conducted privately last year raising $1.7 billion from the sale of 2.9 billion tokens. The commission says investors based in the United States have purchased GRM tokens worth approximately a quarter of that amount, or around $425 million. Two entities, Telegram Group Inc. and its subsidiary TON Issuer Inc. were mentioned in the complaint. Secondary sales have been held before the coin’s upcoming public release date, which the SEC views as illegal fundraising through an unregistered offering of digital tokens. In one of them, early investor Gram Asia offered to sell its rights to grams on the Japanese exchange Liquid this summer at $4 a token. Private investors paid $1.33 a piece in the second token offering round last spring. Gram is the native token of the Telegram Open Network (TON), a blockchain that will facilitate smart contracts and decentralized applications. It also aims to provide the users of the instant messenger, over 300 million according to some estimates, with a new digital payment system. Each one of them will get a TON wallet. The gram token will be used to pay for services provided by the applications built on the platform. These will include decentralized data storage, TON-based domain names registration, and privacy-oriented features and systems designed to bypass censorship. Grams will be available for external use as well and will be traded on digital assets exchanges like other cryptocurrencies. SEC Lawsuit Likely to Postpone Gram Launch Date The legal uncertainty accumulated since the SEC announcement has thrown a shadow over the project’s future. In correspondence to investors, TON developers explained they were surprised and disappointed by the regulator’s sudden crackdown, which came after Telegram tried for over a year to acquire the SEC’s position on the offering. The team is now considering different ways to address the commission’s move and the options include a delayed start. Another possible scenario is to launch a cropped version of the project by the end of the month, as already promised to TON investors. Yakov Barinsky, head of the Russian crypto investment company Hash CIB, commented via Russian media outlet Tass: My estimate is that TON will be launched with some kind of limited functions and, possibly, the Gram [token] will be blocked. In other words, the protocol will not let the holders transfer Gram between their accounts. Barinsky emphasized that legal risks will be a key factor determining the launch date. In the press release dated October 11, Steven Peikin, co-director of the SEC’s Division of Enforcement, stressed that “We have repeatedly stated that issuers cannot avoid the federal securities laws just by labeling their product a cryptocurrency or a digital token.” The messaging service has been accused of seeking to obtain the benefits of a public offering without complying with established disclosure responsibilities. Some of its features allow users to communicate privately and regulators fear they won’t be able to know who has invested in gram or trace their future transactions. Telegram owes its popularity among crypto enthusiasts to the encrypted messaging service it offers. The app was launched in 2013 by the Russian-born entrepreneur Pavel Durov, now Telegram CEO, and his elder brother, programmer and mathematician Nikolai Durov. They are also the founders of Vkontakte (VK), which is the most popular Russian social network. Pavel was dismissed as VK chief executive in 2014 after he reportedly refused to share users’ information with Russian law enforcement. He has since left the country and sold his Vkontakte stake. Moscow imposed a ban on Telegram and tried to restrict access to the app for similar reasons. Durov’s company rejected a request to hand over its encryption keys to the Federal Security Service (FSB). What do you think will happen with Telegram’s TON blockchain and the gram token? Share your expectations in the comments section below. Images courtesy of Shutterstock. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Telegram Awaits Court Hearing on SEC Case Against Its Token Sale appeared first on Bitcoin News. View the full article

With the rise in price and the growing adoption of cryptocurrencies, more governments worldwide have been ramping up efforts to tax them. Some countries are using extreme measures to get their hands on this new source of untapped revenue, but there are also tax-friendly countries that are not taxing crypto transactions. Furthermore, many tools exist to help crypto owners. Also read: IRS Issues New Crypto Tax Guidance – Experts Weigh In Know How Your Government Taxes Crypto Each country, state, or even city has its own set of rules when it comes to determining which crypto transactions are taxable. However, few have clear guidelines as cryptocurrency is still a nascent area for governments to tackle. The U.S., for example, first released guidance for crypto taxation back in 2014, but left out many issues. Five years later, on Oct. 9, the country’s tax agency, the Internal Revenue Service (IRS), published follow-up guidelines that answer many questions but also raise some unanswered ones. Besides, the tax agency seems to be confused about some key concepts such as how hard forks and airdrops work. As a taxpayer, it is important to understand what is taxed in your country. In the U.S., the IRS explained: The sale or other exchange of virtual currencies, or the use of virtual currencies to pay for goods or services, or holding virtual currencies as an investment, generally has tax consequences that could result in tax liability. Furthermore, anyone who received cryptocurrency “from an airdrop following a hard fork,” will owe taxes “provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency,” the new IRS guidance details. Meanwhile, some crypto transactions are nontaxable such as donating cryptocurrency to qualified tax-exempt organizations. Those Probing Questionnaires As more governments realize cryptocurrency’s potential for generating tax revenue, they are also aware that they are missing out by not finding all crypto owners and taxing them. Some tax authorities worldwide have attempted to obtain information on taxpayers’ crypto holdings and activities through probing questionnaires. The Indian Office of the Deputy Director of Income Tax has been mailing crypto owners a long list of questions, ranging from sources of income to the names of the cryptocurrencies traded and details about hardware wallets. The Canada Revenue Agency has also sent a detailed questionnaire to the citizens it believes to own cryptocurrency. Another example is the tax agency of Denmark, Skattestyrelsen, which has been authorized by the country’s tax council to obtain information about cryptocurrency trades conducted on some local exchanges. On Oct. 11, the IRS published a draft of the new 1040 tax form which contains a question on cryptocurrency: “At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” This form is the main U.S. tax form used by over 150 million taxpayers. More Aggressive Tactics If tax authorities believe that a significant number of people are not reporting and fulfilling their tax obligations, they may employ various tactics to convince them to do so. The IRS, for example, has tried to remind crypto owners to pay taxes by mailing letters to more than 10,000 of them. It followed up with a video about another tax notice which seeks to rectify recipients’ tax reporting discrepancies. While these letters may seem like a big deal, some people believe that they are more of a phishing campaign since the agency simply does not have enough manpower to go after all crypto owners. Tax agencies may also use more aggressive measures to boost their revenue. An IRS cybercrime presentation shows alarming recommendations on how tax agents should deal with crypto tax evaders, including questioning their friends and family, analyzing their social media posts, and issuing subpoenas. For Americans with more than $52,000 in overdue taxes, the agency may even revoke their passports until their tax bills are settled. Recently, the Turkish tax authority froze the bank accounts of over 3 million people for nonpayment of taxes. Some Countries Are Much More Tax-Friendly Each jurisdiction applies different tax rates and rules to crypto transactions. For example, Romania imposes a 10% tax on crypto earnings, Venezuela taxes up to 15% of crypto remittances, and one Swedish trader expected to pay 300% of his crypto profits in taxes. Japan, often hailed as one of the most crypto-friendly countries, taxes crypto income as high as 55%. However, a proposal is already in place to lower this rate in four different ways. India presently has no legal framework for cryptocurrency, but income from crypto assets can be taxed in three different ways. Portugal, on the other hand, has emerged as a crypto haven due to its policy to exempt cryptocurrency from capital gains tax and VAT. A local tax expert detailed: The appreciation of cryptocurrencies or any gains on the direct sale of cryptocurrencies are not taxed in Portugal. Knowing how other countries treat crypto assets for tax purposes can be beneficial, such as when choosing a more crypto tax-friendly place to move to. With some jurisdictions taxing crypto earnings and gains significantly less than others, some crypto investors have renounced their citizenship and relocated in order to lower their tax obligations. There Are Tools to Help If you want to file taxes and pay as little as possible, there are many tools to help you. Many software programs can help track your cryptocurrency transactions, calculate your tax liabilities, prepare and even file your tax returns. Some allow you to download your transaction data directly from exchanges and wallets. News.Bitcoin.com recently published a list of 10 useful tax tools for crypto owners. Some People Are Still Not Paying Despite intense efforts by tax authorities, many people in and around the crypto community strongly believe that taxation is a form of theft, and flat out refuse to pay them. A survey by personal finance firm Credit Karma shows that an increasing number of people would not declare their crypto income. One prominent tax evader is former antivirus tycoon and cryptocurrency advocate John McAfee. After fleeing the U.S. and declaring war on the IRS from his boat, he exclaimed: I have not paid taxes for eight years and I have made no secret of it. Resources: Top Posts on Crypto Taxation IRS Issues New Crypto Tax Guidance – Experts Weigh In IRS to Require 150 Million Filers to Disclose Crypto Activities 10 Tax Tools to Help Crypto Owners 10,000 American Crypto Owners Will Receive Warning Letters From IRS Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin What do you think of how governments try to tax crypto transactions? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Tax Guide: What Crypto Owners Should Know appeared first on Bitcoin News. View the full article

Virtually everybody knows what a dollar is, but not as many know about the SDR. The International Monetary Fund’s (IMF) Special Drawing Rights is an international, monetary reserve system created specifically to address limitations of gold and standard fiat currencies such as the USD. In short, should these fail, central banks and their governments retain the ability to trade and plan with liquidity via another, exclusive instrument — the SDR. Also Read: Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin An Artificial Currency The SDR is not an actual currency, according to the IMF, but a “potential claim on the freely usable currencies of IMF members.” As the official unit of account for the group, and an instrument only available to member countries’ central banks, the IMF itself and “designated, official entities,” SDR are exclusive assets. The average individual cannot get their hands on SDR. Comprising a basket of major global currencies, the composition of the Special Drawing Rights is reviewed in five-year intervals. Currently the SDR utilizes USD, EUR, CNY, JPY, and GBP. The system is said to enable liquidity in international finance when assets like gold or other fiat currencies fail to do so. In the event of an unprecedented, worldwide economic collapse, SDR could become a centralized means by which to rebuild global trade networks. In fact, after the global downturn of 2008-09, the IMF’s issuance of SDR to member countries spiked dramatically in an attempt to re-stabilize the world economy. SDR allocation spiked by an unprecedented 182.7 billion in 2009 in response to the global economic crisis. Source: IMF Creation of SDR The SDR system was created in 1969 and “was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar,” imf.org relates. “After the collapse of the Bretton Woods system, the SDR was redefined as a basket of currencies.” Of course, the collapse of Bretton Woods meant the international abandonment of the gold standard and the beginning of floating exchange rates. SDR is a uniquely isolated system, with its own exclusive economy and management, including interest rates set weekly and allocations to member countries determined via IMF criteria. Controversy, Control and Crypto The International Monetary Fund is well known as a financial superpower, exercising great influence in a wide scope of global affairs. The group has drawn sharp criticism throughout the years for allegedly destroying local economies and agriculture, negatively affecting healthcare, and overregulation of competing currencies and monetary instruments such as Bitcoin and crypto. In 2018, the group interestingly discouraged the Marshall Islands from creating their own cryptocurrency which could potentially challenge dollar hegemony on the islands, while just months later advocating central bank-issued digital currencies in other, more powerful national economies. While the Marshall Islands appear to be pressing on with their plan, still advocating the SOV national currency designed to fight inflation, standing up to a surveillance and regulatory behemoth like the IMF is not easily done, and likely not without serious compromises. Unlike SDR, cryptocurrencies like bitcoin are not regulated or allocated by a centralized, monetary surveillance authority such as the IMF. This has been a source of concern for the group, with former IMF head and European Central Bank presidential nominee Christine Lagarde stating in April: “I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system.” For central bankers, this is clearly a threat to stability. Some advocates of radical financial freedom, however, believe that a decentralized shake-up of the old order may be just what is needed. After all, if the IMF can have its own special emergency currency in today’s climate of global financial instability, why not everyone else? What are your thoughts on the IMF’s artificial reserve currency, the SDR? Let us know in the comments section below. Image credits: Shutterstock, fair use. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post IMF Has Another Trick Up Its Sleeve When Fiat Fails – Its Own Coin SDR appeared first on Bitcoin News. View the full article

Regulatory barriers are a major concern for businesses working with decentralized assets. Not all governments, however, are putting obstacles in front of crypto companies. In fact the number taking a crypto-friendly stance is in fact increasing. Also read: Ukraine in a Rush to Legalize Cryptocurrencies Under Zelensky Executives View Regulations as the Biggest Threat Government regulations are a determining factor for the business climate crypto companies operate in. A recently published survey conducted among executives from the industry shows that the slow advance in that respect is a major concern. Over half of the respondents, 53% of CEOs polled by venture capital firm Digital Currency Group, singled out the regulatory environment as the main “enemy.” Other threats include a possible economic downturn and cybersecurity risks. A quarter of the questioned managers admitted that compliance was the greatest challenge they faced last year, while a third stated that the lack of regulatory progress this year surprised them the most. Rules constricting the growth of cryptocurrencies are a much bigger concern to the industry than hacking attacks, for example. The situation can deteriorate even further with policymakers calling for increased oversight in the sector. Existing regulations in many countries are quite inadequate as they don’t reflect the specifics of crypto-related economic activities, and where new ones are introduced they are often rather hostile. But there are a few notable exceptions, mostly in Europe, like Switzerland, Estonia, Belarus, Malta, and Gibraltar. Authorities in these jurisdictions have taken the lead to establish favorable regulatory frameworks that attract more crypto companies. Three Countries Make Positive Steps The number of governments with positive attitudes towards cryptocurrencies and entities working with digital assets is growing, and the crypto community has seen some promising developments over the last few months. These include the adoption of new legislation creating more business-friendly conditions for crypto companies as well presenting a favorable interpretation of tax rules that can save investors money. Liechtenstein, which is considered by many to be an integral part of the expanding Swiss Crypto Valley, recently adopted a law that aims to clarify the regulatory environment for crypto businesses and attract more of them to the German-speaking principality. The “Token Act,” approved unanimously by its parliament, turns Liechtenstein into a secure location for service providers operating with digital coins and tokenized securities. The tiny Alpine nation hopes to become a major European fintech hub. Several dozen companies from the industry, including entities dealing with cryptocurrencies, are already based or represented in the country. Regulatory uncertainty can put off businesses and individual investors. But two clarifications issued by Portugal’s tax authority position the country as a crypto tax haven in Europe. In its latest statement on the matter, the regulator said that transactions related to mining, the miner’s reward and its exchange to fiat, should be exempted from VAT. The agency has previously announced that although cryptocurrencies can generate taxable income, gains on their sale or appreciation received by private individuals are not subject to taxation. Ukraine, which recently elected a younger and more tech-savvy generation of politicians to power, is also embracing cryptocurrencies. There is now a general consensus between government institutions, business circles, and civil society on the need to legalize decentralized digital assets and regulate related economic activities. Several new bills designed to accomplish that goal have been proposed or are currently being finalized. They should provide answers to questions concerning the legal status of cryptocurrencies and taxation in the industry. If you need a really good example of a crypto-friendly nation, look to Slovenia. Authorities there have a very relaxed policy towards digital currencies. It’s legal in Slovenia to own and trade coins, and capital gains of individual crypto investors are not taxed. Government support has allowed for a thriving crypto industry to develop. One of its members, Eligma, is the startup behind the crypto payment processing platform Elipay which allows in-shop purchases with bitcoin cash (BCH) and other major cryptocurrencies. Mainly thanks to its services, the country now has the most BCH-accepting physical locations in the world, as news.Bitcoin.com reported, numbering over 400. Do you think more governments will soon follow in the footsteps of these crypto-friendly nations? Share your expectations in the comments section below. Images courtesy of Shutterstock. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post More Nations Join the Club of Crypto-Friendly Jurisdictions appeared first on Bitcoin News. View the full article

The risk of double-spending has traditionally been a major obstacle to creating and fully using digital money. A flaw of this kind would be detrimental to the credibility of any system claiming to provide universal solutions to the financial needs of our era. Whoever created Bitcoin elegantly solved the difficult task, but a growing ecosystem of related products and services comes with new threats and resurrects the challenge. It isn’t Bitcoin’s fault, but the danger is nevertheless present and a solution is needed. Also read: Ukraine in a Rush to Legalize Cryptocurrencies Under Zelensky Paynoway Tests Cryptocurrency Payment Applications Developers have been working to protect you from some of the risks associated with products that expand the usability and utility of decentralized cryptocurrencies. The creators of a mobile application called Paynoway insist “double-spending is no longer a theoretical possibility but a practical reality.” They are offering software that allows you to verify transactions made through third party apps. Most of the end-user applications widely available today leave their users vulnerable to being defrauded via double-spend attacks, the developers point out. “Paynoway is a tool that you can use to test the applications that you, or your business, depend on to accept on-chain cryptocurrency payments,” the team behind the app explains. The tool has been developed specifically for Android-based devices and is currently available for free download in the Google Play store. The version that can be installed right now is the app’s initial release. According to the description, the application is still in development but users have been invited to try it and provide feedback. In its Github repository, Paynoway is described as a mobile app for testing payment systems against double-spend attacks. The program allows users to provide the details of a cryptocurrency transaction and check if it involves double-spending. Paynoway produces reports about the tested transactions listed with their IDs as well as resolutions corresponding to each individual transfer of digital funds. The type of a transaction is determined as a “payment” or a “double-spend,” and its status is marked as “confirmed” or “invalid” respectively. Understanding Double-Spends With Crypto Double-spending in the context of Bitcoin may occur when a user attempts to make more than one transaction with the same amount of money. And since this involves digital files that are generally easier to duplicate, someone may be tempted to try and pay more than once with the same bitcoin. In peer-to-peer transfers, a user can attempt to broadcast two transactions, both of which will go into the unconfirmed transactions pool. But when these transactions are taken out and put into the blockchain they are checked for their validity and the second one won’t get confirmed. When both transactions are validated simultaneously, two branches of the blockchain occur and a race between them begins. The first transaction to be confirmed in a block wins over the other. The more confirmations a transaction receives, the safer it is to consider complete. Crypto payment applications provide businesses and individual users with much needed faster transfers which may involve accepting transactions with fewer or even zero confirmations. However, it’s not always guaranteed that a wallet, for example, will be able to detect both the original payment and a double-spend. And that’s where apps such as Paynoway can be useful. Do you think we are going to see more applications like Paynoway in the future? Tell us in the comments section below. Images courtesy of Shutterstock. How could our Bitcoin Block Explorer tool help you? Use the handy Bitcoin address search bar to track down transactions on both the BCH and BTC blockchain and, for even more industry insights, visit our in-depth Bitcoin Charts. The post Android Tool Lets You Check Crypto Payment Apps for Double-Spends appeared first on Bitcoin News. View the full article

The BCH-centric web portal Bitcoinbch.com published an in-depth report that shows the aggregate of cryptocurrency expenditure for Australian retail businesses. According to the 10-page document, BCH transactions in the country exceed BTC transactions by a wide margin and BCH is the top digital currency in Australia. Also read: Bitcoin Cast Program Gives Guests a Unique SLP Token In Australia, Bitcoin Cash Is Soundly #1 This week the website Bitcoinbch.com revealed a report that covers cryptocurrency usage in Australia in regard to Australian merchants that support digital currencies for products and services. The research combs through the two payment processors and point-of-sale systems located throughout the country. Sources used in the analysis stem from the underwriting firms Travelbybit (TBB) and Hula (Hockings Underwriting Logistics App). The multi-coin payment processor TBB started operations in 2017 and has around 195 merchants to-date. Hula was launched two months ago and the company has roughly 17 retailers utilizing the underwriting system. “This report captures and analyses the majority of all merchant cryptocurrency payments in Australia for the month of September 2019 by harvesting data from both the underwriting systems,” explains the report’s author and Bitcoinbch.com CEO Hayden Otto. “Cryptocurrency adoption in Australia has taken some interesting turns — Today there is an obvious shift toward a mono-cryptocurrency adoption policy, where merchants have chosen to accept Bitcoin Cash (BCH) only rather than point-of-sale systems supporting a basket of different cryptos,” the report highlights. Otto’s study continues: Further, a large percentage of these merchants have chosen to accept Bitcoin Cash (BCH) in a purely peer-to-peer fashion rather than by way of payment processors. Bitcoin Cash Accounted for 92% of Australia’s Crypto-Based Retail Sales The study of cryptocurrency retail sales in Australia for September 2019 notes that approximately $39,405 was spent across 625 separate transactions. “The vast majority of economic activity occurred on the Bitcoin Cash (BCH) blockchain,” the report mentions. Bitcoinbch.com’s summary says the combination of datasets between TBB and Hula clearly shows that “BCH is by far the preferred choice for Australian users of electronic cash.” BCH sales dominated by 92.45% while Lightning Network had 3.1% and traditional onchain BTC transactions turned out to be 1.9%. Cryptocurrencies like LTC, BSV, and ETH are barely seen on the scope of data with 0.01% to 0.19% of retail sales. Bitcoinbch.com’s analysis also points out that TBB has only enabled BCH as a minority on the company’s PoS system. Despite the policy, BCH still captures “the 3rd most spent and 2nd most transacted among their supported cryptocurrencies.” Otto recommends that TBB change its policy to be more accepting of BCH from a business perspective. Additionally, when observing the transactions processed by each service, Hula commands 76% of the $39K spent while TBB is only processing 24%. “The data confirms that Bitcoin Cash (BCH) is fulfilling the original promise of Bitcoin as ‘Peer-to-Peer Electronic Cash’ of a fast, reliable, secure, and efficient currency,” the report emphasizes. Bitcoinbch.com’s research further stresses: Bitcoin Cash (BCH) alone accounted for 92.45% ($36,431) of all cryptocurrency spent and 80.3% (502 tx) of all cryptocurrency transactions in Australia. The study concerning cryptocurrency expenditure for retail businesses shows that, at least in Australia, BCH has surpassed BTC in the retail space by a longshot. The 10-page report underscores that BCH outspent BTC by 48.93 to one and had 20x the transaction count. Otto concedes by saying that the BTC experiment seems to have run its course or at the very least has a lot to accomplish to even catch up to the number of BCH transactions spent. “Bitcoin Cash is soundly number one,” the report concludes. What do you think about bitcoin cash transactions used in retail outshining BTC transactions spent in Australia? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Bitcoinbch.com, cryptocurrency expenditure report, Fair Use, Wiki Commons, and Pixabay. Enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely. The post Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin appeared first on Bitcoin News. View the full article

Coinbase has secured a new legal foothold in Europe. The San Francisco-based cryptocurrency exchange has received an e-money license from the Bank of Ireland, which it can potentially use to continuing serving its customers across the continent, in case Brexit causes any disruptions. Also Read: Gartner: Corporate Blockchain Won’t Take Off for Another Decade Coinbase Granted an Irish E-Money License Coinbase announced over the weekend that the cryptocurrency exchange has been granted an e-money license by the Central Bank of Ireland. This is the second such European regulatory approval the company has obtained, as in March 2018 it received an e-money license from the U.K.’s Financial Conduct Authority (FCA). When Coinbase opened the Dublin office exactly a year ago, they said the local team would complement the company’s operations in London. Now, being one of just a few companies to receive the Irish e-money license, they can also rely on the new Ireland team to legally serve clients across Europe. This option could be particularity useful if a no-deal Brexit affects the acceptance of the British license by regulators on the continent. Central Bank of Ireland building, Dublin “The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the EU and EEA,” stated Zeeshan Feroz, the UK CEO of Coinbase. “We are committed to ensuring that our customers have the same safeguarding and security as any regulated financial institution, and the approval of a second European regulatory authority demonstrates our position as the world’s most trusted cryptocurrency platform.” Ireland to Become Next Crypto Industry Hub? Ireland has been very succusful in attracting multinational tech giants such as Apple, Google and Facebook to operate from its jurisdiction by offering them one of the most attractive tax regimes in Europe. The approval of Coinbase by the Irish central bank might be an indication that the country is open to becoming a launchpad for the European market to the digital assets industry as well. The CEO of IDA Ireland, the state sponsored agency responsible for the attraction of foreign direct investment into the country, Martin Shanahan, commented: “Coinbase’s choice of Dublin for this operation reinforces the strength of Ireland as a destination for financial services companies, providing a consistent, certain, pro-enterprise policy environment for businesses to grow and thrive.” Coinbase has also been busy recently securing its legal position across the pond. About two weeks ago it led a group of digital finance companies in the formation of the Crypto Rating Council, a member-operated organization created to help market participants comply with U.S. federal securities laws. The other founding members of this industry body are Anchorage, Bittrex, Circle, DRW Cumberland, Genesis, Grayscale Investments and Kraken. The purpose of the council is to provide a joint assessment of whether a specific token should be considered a security under American law. What do you think about Coinbase getting an e-money license from the Bank of Ireland? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com. The post Coinbase Receives E-Money License From the Central Bank of Ireland appeared first on Bitcoin News. View the full article

An article found on the De Nederlandsche Bank (DNB) website has surprised many in the crypto space, with its bold claim that “If the entire system collapses, the gold stock provides a collateral to start over.” While proclamations of this nature are nothing new, it is strange to see a mainstream financial institution open up about the superior value of limited supply, sound money assets. A bit hypocritical, perhaps, given the diametrically opposed Keynesian practices regularly engaged in by central banks worldwide. Also Read: IRS to Require 150 Million Filers to Disclose Crypto Activities Dutch Bank Talks Global Reset The translated article, entitled “Goud van DNB” (“Gold from DNB”) states: “If things go wrong, prices may fall. But, crisis or not, a gold bar always holds value.” DNB claims to hold over 600 tons (15,000 bars) of gold mainly in Amsterdam, with other stores in the U.K. and North America. The reserve is valued by the bank to be worth over €6B (~$6.62B). Calling gold the “trust anchor,” the article details briefly why the hard asset is so important to wealth building and the global economy, claiming: Gold is … the trust anchor for the financial system. If the entire system collapses, the gold stock provides a collateral to start over. On October 7, the bank also announced they’d soon be moving a large part of their gold reserves to “the new DNB Cash Centre at military premises in Zeist,” a local media outlet reported. Photo of gold bars from the DNB article “Goud van DNB.” Even Unsound Banks Want Sound Money DNB is no stranger to playing along with the Keynesian, inflationary games of the global monetary system. A system which, according to some, is now more a Ponzi scheme based on force and blind faith than sound economic principle. That notwithstanding, the centralized financial powers of the world know the real score, and that’s why hard assets like gold are hoarded and locked down while everyday, individual residents of these geopolitical jurisdictions are encouraged to spend and spend, going further into debt to prop up ultimately unsound national economies. As news.Bitcoin.com reported on September 4, De Nederlandsche Bank is also set to begin cracking down on crypto exchanges and wallets, the bank stating that “firms offering services for the exchange between cryptos and regular money, and crypto wallet providers must register with De Nederlandsche Bank.” The demand for greater KYC/AML policy is a growing global trend, so there’s no surprise there. The remarkable part for many in the crypto space is the fact that invasive regulations and restrictions by central banks can be seen as yet another means of stockpiling precious assets. This time, not gold bars, but a limited monetary tool everyday people are now freely spending and saving more and more, with great effect: Bitcoin and crypto. What are your thoughts on the De Nederlandsche Bank article? Let us know in the comments section below. Image credits: Shutterstock, fair use. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Dutch National Bank Says Gold Can Re-Start Economy in Case of Total Collapse appeared first on Bitcoin News. View the full article

Bitcoin Cash has been around for quite some time, but lots of individuals are still learning about the innovative technology each and every day. One particular way people can be kept up to date with crypto-related news and learn about the benefits of Bitcoin Cash (BCH) is through podcasts and streaming media. The Bitcoin Cast show is a BCH-centric program hosted on Youtube that covers user and merchant adoption throughout the BCH ecosystem. Also read: Slovenia Has the Most BCH-Accepting Physical Locations Worldwide Focusing on User and Merchant Adoption There are numerous methods and resources available for people who want to be kept abreast of all the Bitcoin Cash happenings and gain some knowledge on certain aspects of the BCH technology. Streaming media and podcasts are great mediums for people to absorb this kind of information, with shows that break everything down in readily understandable fashion. However, some crypto shows are filled with nonsensical price predictions and broadcast hosts who could care less about user adoption. In contrast to those crypto shows, the Bitcoin Cast Youtube program hosted by BCH proponents Christian and Tao Jones is a different story. During the beginning of every episode of Bitcoin Cast, the show intro says: “Unlike other shows, we are not here to focus on price — Join us as we cover some more user and merchant adoption of Bitcoin.” Bitcoin Cash supporters Tao Jones (left) and Christian (right) from Bitcoin Cast. News.Bitcoin.com recently covered an interesting episode of Bitcoin Cast when show host Christian spoke with Oscar Salas, organizer of the Maracaibo city, Venezuela BCH meetup. Bitcoin Cast gives listeners a unique perspective on user and merchant adoption within the BCH ecosystem as the show hosts discuss various subjects surrounding BCH. The program’s 36 episodes also feature a wide array of well known BCH developers, executives, influencers, and enthusiasts. Show guests include Jose from Eatbch, Code Valley’s Noel Lovisa, Bitcoin.com Podcast host Matt Aaron, Free Talk Live’s Ian Freeman, and Cointext CTO Vin Armani. Bitcoin Cast can be found on Youtube and Dlive, and the show also leverages the latest BCH tipping service for livestreamers tipbitcoin.cash. The show hosts are big believers in the community and the broadcast’s fans and guests get thanked regularly on Twitter. Bitcoin Cast Launches a Token That Bolsters Community Appreciation for Guests Spreading Bitcoin Cash Awareness Just recently, Bitcoin Cast revealed that an SLP token was created for the show and the token is only given to past guests. The token was created so the program’s guests who are known for spreading user and merchant adoption can be rewarded in a decentralized manner. Essentially, anyone can send the Bitcoin Cast show’s guests a BCH payment via Bitcoin.com’s SLP dividend payment calculator. The tool lets users send BCH dividend payments to token holders and also allows people to airdrop SLP tokens to token holders as well. “All you need to do is paste the token ID into the Bitcoin.com SLP dividend calculator,” explained Bitcoin Cast on Twitter. Further, Christian created a 5-minute tutorial video about the Bitcoin Cast SLP token so fans can get a grasp of what the token is all about. “Thanks in advance for any donations sent,” the Bitcoin Cast video description on Youtube states. The Simple Ledger Protocol (SLP) token created by Bitcoin Cast. When you want to learn about Bitcoin Cash or relax and listen to a casual show about the BCH environment, Bitcoin Cast hits the spot. Alternatively, there are a few other Youtube shows, podcasts, and livestreamers that cover BCH in great detail. There are listening programs like Collin Enstad’s Collin’ It Like It Is, the Coinspice podcast with C. Edward Kelso, the popular Youtube show Crypt0, and Bitcoin.com’s podcast network with show host Matt Aaron. The Bitcoin Cast channel has 36 episodes with all types of different guests who help bolster BCH adoption and awareness. As videos and streaming media continue to grow in popularity alongside the growth of the Bitcoin Cash network, you can guarantee there will be more and more great BCH content available on the web. The Bitcoin Cast show is a unique program for people who just want to focus on what they care about: BCH user and merchant adoption. At the same time, Bitcoin Cast viewers can show community appreciation for the show’s prior guests with the unique SLP token idea. Check out the intro video for the Bitcoin Cast token below. Have you seen the Bitcoin Cast show? What do you think about the Bitcoin Cast SLP token idea? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Jamie Redman, Bitcoin Cast, Fair Use, Youtube, and Wiki. Do you need a reliable Bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy Bitcoin with a credit card. The post BCH-Centric Videocast Gives Guests SLP Tokens appeared first on Bitcoin News. View the full article

When it comes to cryptocurrency networks and markets, there’s a lot to keep track of. Thankfully there’s also now a bunch of dedicated bitcoin cash (BCH) data websites that provide easy to comprehend visual representations of network statistics and market indicators. Also read: Slovenia Has the Most BCH-Accepting Physical Locations Worldwide Monitoring BCH Network Statistics and Market Indicators In the early days, it was much harder to find reliable data platforms in order to observe market action and network metrics. Today, however, there are numerous digital currency data sites including great number of web portals that comb the BCH network and monitor price action. The following is a list of Bitcoin Cash-centric data websites that give people identifiers, information, and statistics on nearly everything within the BCH ecosystem. Coin Dance Cash.coin.dance is a BCH network data website with a large number of different metrics collected. The site has been around for quite some time and provides free information on network statistics tied to the Bitcoin Cash blockchain. Coin Dance has information on node count, blocks, development, and politics and opinion data as well. For instance, the blocks section gives up-to-the-minute mining and BCH block statistics like hashrate distribution, block sizes, profitability against BTC mining, network fees, hashrate, and records of block details. In the nodes section, Coin Dance breaks down all the BCH clients into statistical data and charts. The Bitcoin Cash platform and protocol development page shows all the completed code, proposals under discussion, and projects in the works. Coin Dance covers quite a bit of BCH network information and has been a go-to data site for many BCH proponents. Bitcoin.com Charts Charts.Bitcoin.com is a web portal filled with a ton of calculations and tallies that provide an insight into the BCH ecosystem as a whole. Bitcoin.com’s charts show visitors the BCH price, market cap, money supply, daily transactions, hashrate, inflation rate, block size, and network fees. Charts.Bitcoin.com also covers other statistical information like Metcalfe’s Law, the Velocity of Money, transaction size, output volume, UTXO set size, and UTXO growth. The charts are downloadable, embeddable, and press-ready so people can use Bitcoin.com’s charts for network or market data in articles or academic papers. Blockonomics Another website called blockonomics.co shows people transaction and invoice information. Simply paste an address or a transaction ID in the website’s window and Blockonomics will show all the data tied to that specific transaction or address. Blockonomics also allows people to monitor and create watch-only BCH wallets. This means users can get notified any time a wallet action takes place like sending and receiving BCH. The web portal also offers an invoice generator so users can create a BCH invoice in a matter of minutes. Simpleledger.info Simpleledger.info is a Simple Ledger Protocol (SLP) transaction explorer which means users can obtain statistics on SLP tokens created and used on the BCH chain. The website is built on top of SLPDB and allows individuals to search by transaction ID, address or use a token name. Simpleledger.info also tracks the latest transactions, the most popular tokens, and token creation and burns. Since SLP tokens have become popular, the Simpleledger.info explorer has become very useful for finding important information about SLP tokens and transactions. Blockchair Blockchair is a blockchain search and analytics engine that allows you to compare statistical information on coins like BCH, BTC, ETH, LTC, BSV, DASH, and XRP. Users can get information about the crypto’s price, network difficulty, and transactions per second while also being able to look at them simultaneously for comparisons. For instance, you can compare the difficulty of one blockchain in contrast to the BCH network difficulty. Blockchair is also a powerful blockchain explorer that has a vast amount of data on nodes and transaction broadcasts for a total of nine blockchains. Johoe’s Bitcoin Mempool Statistics The website jochen-hoenicke.de is a data site that shows the number and aggregate size of transactions waiting to be confirmed. The portal created by software engineer Jochen Hoenicke combs five different blockchains: BTC, BCH, DASH, LTC, and BSV. The site gives a colorful, visual representation of unconfirmed transaction count, pending transaction fees, mempool size, fees per byte. Users can filter and sort content using a variety of different criteria on each blockchain. Studying, Researching, and Predicting Bitcoin Cash Network and Market Movements The aforementioned sites are just the tip of the iceberg when it comes to web portals that provide the ability to monitor BCH statistics and network data. As the crypto industry grows more robust, tools like these are needed to observe and chart the BCH protocol’s daily activities as well as give an insight into the cryptocurrency’s future behavior. BCH monitoring sites are wonderful tools that provide a deep view of the network and market action. Every data point can be useful to individuals and organizations studying, researching, and predicting specific elements tied to this innovative technology. What Bitcoin Cash monitoring sites do you use? Are there any BCH data sites not mentioned above that you enjoy? Let us know in the comments below. Image credits: Shutterstock, Charts.Bitcoin.com, Coin Dance, Johoe’s Mempool, Blockchair, Simpleledger.info, and Blockonomics. How could our Bitcoin Block Explorer tool help you? Use the handy Bitcoin address search bar to track down transactions on both the BCH and BTC blockchain and, for even more industry insights, visit our in-depth Bitcoin Charts. The post 6 Monitoring Websites That Help Track Bitcoin Cash Data appeared first on Bitcoin News. View the full article

The U.S. Internal Revenue Service (IRS) has unveiled a new draft tax form used by some 150 million people in the country to file tax returns. It has a section that requires them to answer whether they have received, sold, sent, exchanged, or acquired any financial interest in any cryptocurrencies during the year. Also read: IRS Issues New Crypto Tax Guidance – Experts Weigh In New Tax Form The IRS published a draft of the new 1040 tax form containing a question about the tax filer’s crypto-related activities on Friday. The move follows the release of the agency’s long-awaited tax guidance which was published on Wednesday. The 1040 form is the main tax form used by all filers in the U.S. According to the IRS, over 154 million tax returns were submitted using this form in 2018, and over 152 million in 2017. The new 1040 form, when implemented, will be used to file taxes starting in 2019. The IRS emphasized that “This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information,” adding: We generally do not release draft forms until we believe we have incorporated all changes, but sometimes unexpected issues arise, or legislation is passed. The tax agency added that any comments regarding the draft, instructions or publications can be submitted, but “we may not be able to consider many suggestions until the subsequent revision of the product,” the IRS wrote. All US Taxpayers Will Be Asked According to the draft of the new 1040 tax form, Schedule 1 will now include a question about the tax filer’s crypto activities. Schedule 1, entitled Additional Income and Adjustments to Income, is filed alongside the 1040 form. It is used to report income or adjustments to income that cannot be entered directly on Form 1040. The first question on the new Schedule 1, according to the draft, will be a yes or no question which reads: At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? The 1040 instructions, also published Friday, has a section on “virtual currency.” The IRS explained that taxpayers must check the “yes” box if they have “engaged in any transaction involving virtual currency.” According to the tax agency, such a transaction includes “The receipt or transfer of virtual currency for free (without providing any consideration), including from an airdrop or following a hard fork; an exchange of virtual currency for goods or services; a sale of virtual currency; and an exchange of virtual currency for other property, including for another virtual currency.” Draft of Schedule 1 of Form 1040. Furthermore, the IRS reiterated that taxpayers must use Form 8949 to figure out their capital gain or loss, and report it on Schedule D of Form 1040, if they have “disposed of any virtual currency that was held as a capital asset” during the year. For taxpayers who received any cryptocurrency “as compensation for services” or disposed of any coins held for sale to customers in a trade or business, the IRS emphasized that they must report the income as they would other income of the same type. “For example, W-2 wages on Form 1040 or 1040-SR, line 1, or inventory or services from Schedule C on Schedule1,” the IRS exemplified. Lastly, taxpayers who did not engage in any crypto transactions during the year do not need to do anything if they are not filing Schedule 1. Otherwise, they only need to check the “no” box on the form. What do you think of the IRS asking about cryptocurrency on the main U.S. tax form? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post IRS to Require 150 Million Filers to Disclose Crypto Activities appeared first on Bitcoin News. View the full article

The new administration in Kiev, headed by the young president Volodymyr Zelensky, has brought renewed interest in cryptocurrencies. Fresh energy is now being injected into efforts to legalize decentralized digital money and regulate related economic activities. New draft laws have been proposed or are under preparation to accommodate the nascent industry, from which the Ukrainian government expects increased budget revenues. Also read: Swedish Government Auctions Cryptocurrency Again Push to Regulate the Crypto Industry Intensifies Ukraine’s Ministry of Digital Transformation plans to legalize cryptocurrencies such as bitcoin cash (BCH) and bitcoin core (BTC). Тhe initiative to accomplish this comes directly from its current head, Mikhail Fedorov, local media reported recently, quoting his deputy and IT entrepreneur Alexander Bornyakov. The ministry is already working on a new bill that should be ready by the end of the year and preparing amendments to the country’s tax code. Volodymyr Zelensky, president of Ukraine. Bornyakov pointed out that although cryptocurrencies in Ukraine are not banned per se, they currently don’t have any official status. Their legalization is necessary in part to protect businesses dealing with coins from police searches, emphasized the 37-year-old entrepreneur from Odessa. President Zelensky, a former popular comedian and TV producer, is preparing to appoint a new governor of the province this week, 36-year-old crypto millionaire Maxim Kutsiy. The new generation of politicians that took over power in Kiev after the last presidential and parliamentary elections, inherited a country facing numerous challenges. These include a depreciating hryvnia, and an unresolved military conflict in the East. Allowing the promising crypto industry to flourish will undoubtedly translate into increased budget receipts. Bornyakov and his colleagues think it’s time for these companies to come out of the grey sector. Plans to Legalize Mining and Create Crypto Valley People from all corners of the Ukrainian society are now involved in the efforts to create regulatory certainty for the crypto industry. Representatives of the Ministry of Digital Transformation, Ukraine’s parliament (Verkhovna Rada), the non-government Better Regulation Delivery Office (BRDO), industry organizations, and businesses gathered recently to adopt a dedicated program to do that. The meeting was organized by a parliamentary group called “Blockchain4Ukraine” which unites lawmakers from different political factions. The document details certain steps that the government and private sector need to take to achieve the set goal. These include legalizing mining, attracting international crypto asset exchanges to Ukraine, and developing the legal terminology needed to regulate the sector. Adopting amendments to the existing law “On Public Ledgers,” implementing FATF standards regarding money laundering as well as the integration of blockchain technologies into government registries are also part of the strategy. Meeting organized by the “Blockchain4Ukraine” parliamentary group. The new management of the National Bank of Ukraine supported these efforts. Mikhail Vidyakin, acting director of the central bank’s Reform Strategy Department, commented on Facebook that the legislation necessary to regulate the crypto industry should be adopted in the shortest possible time, Forklog reported. He believes authorities must “find the courage” to do that within six to nine months after the approval of the new strategy and noted that Malta’s experience proves this is possible. Another draft law, proposed by the Blockchain Ukraine association envisages the creation of a crypto valley in the Eastern European country. A number of established local companies with regional importance, such as crypto exchanges Exmo and Kuna, can form its core as they already have millions of users. But even until that happens, the popularity of cryptocurrencies in the country is likely to continue to grow. According to a survey among internet savvy Ukrainians conducted last year, 13% of the respondents admitted they owned digital coins. Do you think Ukraine will catch up with neighbors like Belarus in terms of adopting crypto-friendly regulations? Share your expectations about the future of cryptocurrencies in the country, and the region in general, in the comments section below. Images courtesy of Shutterstock, Ministry of Digital Transformation. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Ukraine in a Rush to Legalize Cryptocurrencies Under Zelensky appeared first on Bitcoin News. View the full article

Creating an exchange account, signing in and placing an order every time you want to switch cryptos is like using a sledgehammer to crack a walnut. It’s an incredibly inefficient way to jump between cryptos, and given that no exchange has all the coins, it necessitates creating multiple accounts, with the added verification and security risks this entails. Crypto-swapping platforms promise to do the hard work for you, plugging into exchange APIs and exchanging coins on your behalf. Also read: Swedish Government Auctions Cryptocurrency Again Swapy Swapy claims to offer the best exchange rate possible without the need to manually place buy/sell orders. It manages this by combining over 10 exchanges to give users more low-cap and low liquidity tokens at spot price. Currently, you can swap BTC, ETH and USDT into over 70 different tokens, from XEM and REM to BCH and DASH. All of the exchange flows to your wallet can be tracked on-screen. What’s nifty about Swapy is that it charges a fee only on the amount users will save relative to competitor services. In other words, Swapy only gets a cut of what you save on a swap, doing away with a flat fee entirely. Holders of REM tokens can further increase their discount level by up to 90%. Account registration is necessary with Swapy, but only if you’re looking to claim the maximum available discount. Changenow Changenow only entered the marketplace last year, but has captured a significant share of the market already. The fact that it enables purchases to be made with credit card is a useful feature that’s unusual to see with crypto-swapping services. The platform enforces AML/KYC: if a transaction is marked as suspicious, the exchange is paused and the customer is asked to confirm their identity. Changenow imposes no limits on exchanges and more than 170 coins can be converted, from BTC and ETH to BCH, LTC and more niche altcoins. All transactions take under 15 minutes to complete, and a fee of 0.5% is incorporated into the exchange rate you pay. Changenow Changelly Changelly is one of the best-known platforms, delivering a fixed-rate mechanism that protects against the risk of market fluctuations when tokens are being swapped. Changelly claims the stability is assured by integrating a small reserve inside the exchange rate when the final quote is given to the user. This month, the platform launched an iOS app as well as a second version of its Android app, making it even easier for users to convert coins on the go. Changelly Changelly was founded in 2015 and supports over 150 cryptocurrencies, taking a 0.25% fee for all swaps. You’ll need an email address to use the service though, and Changelly reserves the right to apply AML/KYC to certain users, addresses and particular transactions, which may deter privacy absolutists. Like Changenow, Changelly enables credit card purchases of crypto thanks to a partnership with Simplex. Shapeshift Speaking of KYC, Shapeshift caught flak when it announced that it would adopt a fully verified model, disincentivizing the same users who raised an eyebrow to Changelly’s policy. Citing pressure from regulators, the non-custodial exchange admitted that the move provoked the departure of many valuable API partners – but nonetheless, it remains a viable service for some. Shapeshift offers a unique exchange rate for each coin that changes every 30 seconds according to market conditions, but its typical ‘miner’ fee is in the ballpark of 0.5%. Support is provided for 29 cryptocurrencies including BTC, BCH and DAI, and boasts one of the nicest interfaces on the market. Flyp.me “Simple, fast and private. No registration” is the strapline you see when alighting on flyp.me, and for users troubled by KYC, it’s music to the ears. With flyp.me, you can exchange over 30 cryptocurrencies instantly including BTC, DASH, LTC, and a bunch of other altcoins while retaining full privacy. You also retain at least a measure of control over the exchange rate: when you hit the ‘Flyp now’ button, the rate is locked in for the next few minutes. Flyp.me promises to leverage several trading platforms to secure the best exchange, analyzing the market depth and liquidity of the currency in question and taking a 0.5% cut while they’re at it. Flyp.me What’s your favorite crypto swapping service? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post 5 of the Best Crypto Swapping Services appeared first on Bitcoin News. View the full article

Bitcoin Cash (BCH) merchant adoption continues to grow, but in certain regions worldwide like Australia, Japan, and New Hampshire, BCH acceptance is swelling. As each area pursues BCH adoption in a variety of unique ways, the Republic of Slovenia has seen massive retail approval as the payment processor Eligma has relentlessly spread crypto awareness throughout the country. On Thursday, Eligma announced the company’s Gocrypto service now serves 500 mostly physical merchant locations. Also read: Bitcoin Cash Adoption Continues to Spread in North Queensland and Japan While Digital Currency Acceptance in Slovenia Swells, Ljubljana Startup Eligma Reaches 500 Crypto Supporting Retailers Worldwide The southern Central European country Slovenia currently has the most bitcoin cash acceptance worldwide. There are roughly 2 million residents living in Slovenia and digital currency acceptance in the country is thriving. Last year, cryptocurrency fans were introduced to “Bitcoin City,” a 475,000 square-meter shopping and financial center located in Ljubljana. The shopping complex implemented a significant amount of crypto adoption thanks to the payment service Eligma which facilitates seamless and secure crypto payments via its products Elly and Gocrypto. There are 432 BCH supporting retailers in Slovenia according to Marco Coino. Soon after, Eligma continued bolstering digital currency adoption throughout Slovenia and started getting lots of merchants onboarded in Croatia as well. In September, Eligma raised €4 million in funding from investors like the Pangea Blockchain Fund and Bitcoin.com. A few weeks later, Eligma launched its payment infrastructure Gocrypto and on October 10 the startup revealed it now has 500 locations using the Gocrypto framework. The majority of the 500 Gocrypto merchants are located in Slovenia. “After officially entering the market last September, our Gocrypto infrastructure has reached a fantastic milestone: 500 mostly physical Gocrypto locations in several countries,” Eligma explained on Thursday. “In this, Slovenia, our home base, has become the country with the highest number of physical locations accepting crypto in the world.” Man @BTC_City in #ljubljana is amazing. They accept #Bitcoin in so many stores, restaurants, beauty and cosmetics , entertainment etc that they can truly call themself BTC City. Subscribe to our youtube to soon see the video! 🔥🚀🔥 #thebitcoinfamily #sharingiscaring pic.twitter.com/Ktl8TIf2Ct — ₿ Didi Taihuttu ₿ (@Diditaihuttu) September 3, 2019 Geo-location application Marco Coino, an app that locates bitcoin cash-accepting merchants, shows there’s 432 BCH supporting retailers in Slovenia. Didi Taihuttu, the Dutch native who sold everything to invest in cryptocurrencies, told the press two weeks ago that Ljubljana in Slovenia was a top destination for crypto users. Taihuttu explained during the interview that his family was able to pay for 80% of all their living essentials using digital currencies. Many observers believe it’s simply hard to ignore Slovenia’s crypto penetration. Bitcoin.com’s Executive Chairman Roger Ver has been sharing videos often of his experiences making bitcoin cash purchases in the Slovenian country. During one video, Ver detailed that Eligma disclosed with him that BCH was the number one crypto used followed by ETH, and then Eligma’s token ELI. This super market accepts crypto currencies. Order of payment volume: 1. #BitcoinCash 2. #ethereum 3. @eligmacom Token 4. #bitcoin pic.twitter.com/UBphAlhRvN — Roger Ver (@rogerkver) September 29, 2019 Eligma Begins to Make Headway in Bulgaria, Serbia, and Turkey Eligma’s 500 merchant announcement highlights the presence Gocrypto has in Slovenia and Croatia but the startup says it is now entering a slew of other areas worldwide. The company noted the firm is making headway in Serbia and Turkey but also plans to expand into Argentina, Australia, Colombia, Ghana, Romania, and Venezuela. Further, Eligma is seeking out all types of businesses that are interested in accepting digital assets for goods and services. In April, the team managed to partner with the cab company Intaxi so people can purchase rides with cryptocurrencies. Other crypto-accepting retailers include the largest Slovenian grocery store Tuš market, Potokar, Aros Bar, Big Bang, Amanzi outboards, and the luxury Navis Design Hotel. The shopping and financial center located in Ljubljana, Slovenia, is home more crypto accepting merchants than anywhere in the world. Crypto proponents visiting Slovenia can pay for goods using the Gocrypto app that’s available for Android and iOS devices or they can use Bitcoin.com’s noncustodial wallet as well. Eligma believes digital currencies can change the world and the work the team has done so far in Slovenia and Croatia further augments the company’s vision. “Crypto has a great number of users worldwide, and Eligma is one of the few companies that enable crypto to be used simply and instantly in daily life,” the company’s announcement on Thursday concluded. ”With Gocrypto, we aim to create a world where instant crypto transactions can serve the benefit of all.” What do you think about the massive amount of crypto acceptance in Slovenia? What do you think about Eligma gathering 500 Gocrypto locations worldwide? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Eligma, Wiki Commons, Fair Use, and Pixabay. You can now easily buy Bitcoin with a credit card. Visit our Purchase Bitcoin page where you can buy BCH and BTC securely, and keep your coins secure by storing them in our free Bitcoin mobile wallet. The post Slovenia Has the Most BCH-Accepting Physical Locations Worldwide appeared first on Bitcoin News. View the full article

Bitmain Technologies and Canaan Creative have announced new mining rigs that process roughly 58-73 terahash per second (TH/s). Sources also reveal that Canaan’s initial public offering (IPO) could be listed in the U.S. next month. Also Read: Mining Firm Canaan Creative Secures Hundreds of Millions of Dollars in Funding Bitmain and Canaan Introduce Bitcoin Miners That Process 70 Terahash per Second The 2019 World Digital Mining Summit (WDMS) has finished after hosting a large event filled with digital currency miners from all around the world. Many businesses and mining operations attended like Bitmain, Genesis Mining, Bitcoin.com, Btc.com, Btc.top, Viabtc, and Poolin. During the summit, Bitmain revealed two new miners that process hashrate speeds of up to 70+TH/s. Bitmain Technologies founder Jihan Wu at the World Digital Mining Summit (WDMS). Bitmain announced the new Antminer S17+ with 73TH/s and with a power efficiency rating at roughly 40 joules per terahash (J/TH). The China-based manufacturer also revealed the Antminer T17+, which claims to process 64TH/s and uses around 50 J/TH. Bitmain’s S17+ costs around $2,833 and the company says units will ship during the first week of December. The T17+ is shipping out at the same time and the lower end model pre-order prices are $1,802 per unit. The new Antminer S17+ packs 73TH/s and 40 joules per terahash (J/TH). Canaan’s newly announced miners include two Avalonminer models called the A1146 and the A1166. Unlike Bitmain’s new Antminers, the Avalonminer A1146 and A1166 are not yet available for purchase on the company’s website and customers can only buy the 10 series at the moment. Canaan recently launched its 1066 models, which claim to process 50TH/s and pull 3,250 watts from the wall. The pre-ordered 1066 models will ship in November, according to the website, and cost $1,390 per unit. Canaan showed off its new 11 series models at the New Era Mining Summit hosted by the mining operation Poolin. The high-powered A1146 and the A1166 models were revealed by Canaan at Poolin’s recent mining summit held in Chengdu, China. The entry-level Canaan A1146 series processes at speeds between 58-61TH/s. The professional-grade A1166 performs at 70TH/s with a power efficiency of around 47 watts per terahash. Reports detail that Canaan has not yet revealed prices or what type of chips are used in the 11 series devices. Canaan’s 11 series sample prototypes were shown to participants at Poolin’s conference. The entry-level Canaan Avalonminer 1146 series processes at speeds between 58-61TH/s Sources Say Canaan Will Soon Be Listed in the U.S. Reportedly, Canaan Creative will also be listed in the U.S. in mid-November. Regional publications disclose that “people with knowledge of the matter” have said Canaan will be valued at $1.5 billion. The company quietly filed for an initial public offering (IPO) in the U.S. in January and at the time, reports detailed it was seeking $200 million. The undisclosed source revealed 1.26 billion Canaan shares will be issued next month, but Canaan would not provide any comments to the press. Canaan’s confidential filing follows the company’s recent attempt in Hong Kong, but the chip manufacturer let the application expire. It’s also been claimed that Canaan Creative had secured hundreds of millions of dollars in funding in March. Rumors of Canaan’s IPO listing for November have been circulating on Wechat. Similarly, Bitmain is allegedly attempting a covert IPO filing in the U.S. as well, according to individuals close to the company. Canaan could end up being the first major mining company to be allowed to conduct an IPO in a traditional capital market. Another large Chinese mining manufacturer, Ebang, had also applied for IPO status in Hong Kong and refiled its draft prospectus for a second time nine months ago. What do you think about the new miners being sold by Bitmain and the two Avalonminers announced by Canaan? What do you think about the possibility of Canaan being listed in the U.S. this November? Let us know what you think about this subject in the comments section below. Disclaimer: This article is for informational purposes only. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Image credits: Shutterstock, Bitmain, Canaan, New Era Mining Summit, WDMS, and 8btc. Do you want to maximize your Bitcoin Mining potential? Plug your own hardware into the world’s most profitable Bitcoin mining pool or get started without having to own hardware through one of our competitive Bitcoin cloud mining contracts. The post 4 New High-Powered Bitcoin Miners Revealed appeared first on Bitcoin News. View the full article

The Swedish Enforcement Authority, Kronofogden, is once again auctioning off cryptocurrency that has been allotted for public sale. The online auction, which is the second of this kind the government agency conducts, starts on Friday, October 11. Also read: Sean Walsh: Cryptocurrencies Can Harness More Human Energy BTC Worth $37,000 Offered to the Public The office of Sweden’s bailiff, the government debt collecting organization, offers potential buyers to acquire 4.59 BTC valued at around 370,000 Swedish krona, or approximately $37,700, according to the current exchange rate. That’s close to $8,200 per coin, while BTC is trading on cryptocurrency markets just below the $8,400 mark at the time of writing. Kronofogden first auctioned bitcoins it had in its custody about two years ago, when the highest bid was placed at 43,000 Swedish krona. That was way above the market value of the cryptocurrency, which was then 27,600 krona, the Swedish outlet Di reminds. The sale was met with great interest. “Many people ask why we auction the cryptocurrency and we don’t exchange it ourselves. The answer is that there is no infrastructure that meets our requirements,” explained Johannes Paulson, a representative of the Swedish Enforcement Authority. “We have to do it in a quality-assured way to know the money isn’t going to be lost,” he elaborated as quoted in a press release. There is a choice of platforms allowing users to purchase cryptocurrencies in a safe and secure way. But auctions conducted by government institutions also provide buyers with undeniable proof of the funds’ origin. In the absence of comprehensive regulations in many jurisdictions, buying crypto from the state is a safe option as the legality of the transaction cannot be questioned by the authorities. Crypto Seized From Debtors Sweden’s Kronofogden, or Kronofogdemyndigheten as is its full name, is responsible for debt collection, distraint, and evictions in the Nordic country. It is the only government agency authorized to withdraw money from debtors’ bank accounts and seize property. “As more people use bitcoin, the likelihood a debtor can also own the currency increases,” the announcement notes. “Property can be found not only on driveways and in living rooms, but also on the internet. Nowadays, we are looking for assets in computers and hard drives as well as in phones and web services,” Johannes Paulson explains. He emphasized that the foreclosure this time was conducted in close cooperation with the Swedish police. The fiat money from the auction will go to pay off the owner’s debts. Although Kronofogden encounters cryptocurrencies more and more often, the Crown Bailiff Authority admits it faces difficulties trying to get into encrypted wallets that store the digital coins. In order to achieve that, it relies on joint efforts with the Police Authority of Sweden and the Swedish Tax Agency, the official added. When Kronofogden suspects that a debtor owns crypto, it works actively to find, evaluate and then sell the digital holdings to compensate the creditor. If the sale generates more than the amount of the debt, the surplus goes back to the debtor. Kronofogden is obliged to aim for the highest possible price for the assets it sells. Would you buy cryptocurrency at a government-held auction? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock. Do you want to keep an eye on moving cryptocurrency prices? Visit our Bitcoin Markets tool to get real-time price updates, and head over to our Blockchain Explorer tool to view all previous BCH and BTC transactions. The post Swedish Government Auctions Cryptocurrency Again appeared first on Bitcoin News. View the full article

For years, all sorts of companies have flooded the media with reports of using blockchain technology for everything from tracking vegetables to fake luxury handbags. These claims mostly involved tests that were done only for the sake of publicity, riding the coattails of cryptocurrency, and almost never about actual products. A new report from Gartner asserts that in reality the enterprise solutions behind these projects are still five to ten years away from making an actual impact. Also Read: Tether Created ‘Largest Bubble in Human History’ Claims Lawsuit Against Bitfinex Gartner: Blockchain Technologies Have Not Lived up to the Hype Gartner, Inc. (NYSE: IT), a research and advisory firm specializing in the financial and IT industries and a member of the S&P 500, recently released a report for its clients titled “Hype Cycle for Blockchain Technologies, 2019.” The report shows that most corporate blockchain solutions are still five to ten years away from having a transformational impact on any industries as the company defines it. For enterprise blockchain solutions to become mainstream, Gartner said users shouldn’t have to worry about picking the right platform, the right smart contract language, the right system interfaces, and the right consensus algorithms. Additionally, the company explained that concerns about how users will interoperate with partners that use different blockchain platforms for their projects must be rectified. “Blockchain technologies have not yet lived up to the hype and most enterprise blockchain projects are stuck in experimentation mode,” said Avivah Litan, analyst and research vice president at Gartner. “Blockchain is not yet enabling a digital business revolution across business ecosystems and may not until at least 2028, when Gartner expects blockchain to become fully scalable technically and operationally.” When Will the Blockchain Hype End? The Gartner report shows that enterprise blockchain is sliding into what the research company defines as the “Trough of Disillusionment” and the market will begin to climb out of this phase only by 2021. According to Gartner, the trough of disillusionment is the third phase of a technology’s “hype cycle” – comprising the period during which interest wanes as experiments and implementations fail to deliver. During this phase, producers of the technology shake out or fail and investments continue only if the surviving providers improve their products to the satisfaction of early adopters. Gartner: Hype Cycle for Blockchain Technologies, October 2019 The hype around corporate distributed ledgers has been unrelenting in recent years and the term “blockchain” was deemed the most misused buzzword of 2018. A survey of 120 marketers and 181 ad agency executives was conducted in January 2019 to find out what words or terms were given too much weight in the advertising industry last year. 26% of participants picked “blockchain” as the most overrated word of 2018, giving it the number one spot in the poll. What do you think about the expectations for enterprise blockchain from Gartner? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com. The post Gartner: Corporate Blockchain Won’t Take Off for Another Decade appeared first on Bitcoin News. View the full article

Bitcoin can now be purchased at 5,200 tobacco shops in France. Fintech startup Keplerk launched the service on Oct. 10 after halting it for many months. France’s 24,000 licensed tobacco shops have diversified into non-tobacco products to boost revenue. Also read: IRS Issues New Crypto Tax Guidance – Experts Weigh In Buy Bitcoin at Tabacs French fintech startup Keplerk announced Thursday that it has resumed service selling BTC at “Tabacs” in and around Paris, after halting the service earlier this year. A Tabac is a convenience store licensed to sell tobacco products. These stores also sell newspapers, lotto tickets, scratch games, telephone cards and postage stamps. Keplerk wrote: You can go to one of the 5,200 tobacco shops today and easily buy your €50 €100 or €250 vouchers. A payment terminal at a Tabac. All 5,200 stores are equipped with a payment terminal from Keplerk’s partner, Bimedia, a payment solution provider for Tabacs. According to local media, Keplerk will focus on selling only BTC for the time being, and will not be offering ETH as previously planned. Map of Tabacs where BTC vouchers are sold. Source: Keplerk. The Original Launch and Regulatory Warnings Keplerk first announced in November last year that it would sell bitcoin at Tabacs. The firm then started selling BTC vouchers at a handful of tobacco stores in January. At the time, cofounder Adil Zakhar said he wanted to enroll up to 6,500 Tabacs by February. However, instead, the firm halted the service on Feb. 27. Its official reason for suspending the service was that the system was too slow. The startup planned to relaunch the service in April, but it was delayed until this month. With dwindling tobacco sales, France’s 24,000 licensed tobacco shops have diversified into products such as prepaid credit cards, cellphone credits and money transfer services, Reuters explained. “Some people find it complicated to get bitcoins on-line,” Zakhar was quoted by the news outlet as saying. “They trust their local tobacco shop owner more than they would trust some remote anonymous website.” Following the firm’s original announcement, three French regulators — The Autorité des marchés financiers (AMF), the Banque de France and the Prudential Supervision and Resolution Authority (ACPR) — issued statements warning the public of the risks associated with investing in speculative digital assets. Local media reported that the authorities also alerted consumers not to confuse Keplerk with other regulated entities in France such as Kepler Cheuvreux and Kepler Capital Markets which have no connection to the fintech company selling BTC. In its March public warning, the AMF explained: “Cryptocurrencies are booming and many platforms on the internet offer to invest in these very special assets. But this type of investment has many risks: volatility, scams, etc. All you need to know before you decide.” Keplerk is not the only firm in France offering such a service. Digycode has been selling BTC, ETH, XRP, LTC, and DASH vouchers at thousands of Tabacs and service stations in €20, €50, and €200 denominations. What do you think of tobacco shops selling cryptocurrencies? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock and Keplerk. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post 5,200 Tobacco Shops in France Now Sell Bitcoin appeared first on Bitcoin News. View the full article

Cryptocurrency exchange Binance has launched peer-to-peer trading in China. The platform supports traders making transactions between themselves using the dominant Chinese payment apps Alipay and Wechat Pay. News of the matter forced Alipay to publicly claim it stops transactions if they are discovered to be related to cryptocurrency. Also Read: Tether Created ‘Largest Bubble in Human History’ Claims Lawsuit Against Bitfinex Binance Launches P2P Trading in China The world’s largest crypto exchange by volume, Binance, has announced it’s launched peer-to-peer trading functionality with BTC, ETH and USDT for trading against CNY (Chinese Yuan). Access to P2P trading functionality will be initially provided only to Android users that have Binance accounts registered for over 30 days, but the company promised that it will slowly roll out this service to iOS and web interface users going forward. Changpeng Zhao, the CEO of the exchange, revealed on Twitter that they are starting with China so 1.4 billion people can use the new P2P functionality and that they will expand the service to other regions soon. In response to a question from a user who noticed the option of selecting Alipay and Wechat Pay as payment methods for the service, Zhao confirmed that the popular Chinese apps are supported for users to pay one another without the direct involvement of the company. Chinese Use Payment Apps to Bypass Bans As anyone who’s visited China in recent years can attest, Alipay and Wechat Pay dominate the local payments market. These two apps can be used virtually everywhere in the country and you will see their QR codes displayed anywhere from street-side vegetable sellers to high-end luxury retailers. Chinese consumers are so used to paying with their mobile phones that many don’t bother holding credit cards or cash and as a whole China has leapfrogged the rest of the world in terms of moving to a cashless economy. With Alipay and Wechat Pay being so prevalent in China, it is not surprising that they will also be popular with cryptocurrency investors in the country. However, there is also another important reason for that: people use them to bypass government bans on sending money to exchanges and ICOs. This is of course a very sensitive issue and the payment apps will never confirm they know this is going on. In fact, following the reports of Chinese people using P2P trades to bypass the bans, Alipay has come out to claim they are monitoring transactions to stop cryptocurrency related business. If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services. — Alipay (@Alipay) October 10, 2019 If you want to try a P2P exchange that is not limited by region, check out local.Bitcoin.com, the privacy-focused global marketplace for trading bitcoin cash (BCH). The platform lets traders choose payment methods such as bank transfer, Paypal, Alipay, Venmo, cash in person, UPI (India), cash deposit and gift cards. And unlike many exchanges that are now forcing users to send a copy of their passport or government ID to prove their identity, local.Bitcoin.com enables you to trade anonymously without any KYC. What do you think about the new offerings from Binance in China? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com. The post Binance Launches P2P Trading in China With Support for Alipay and Wechat appeared first on Bitcoin News. View the full article

The dominance of the U.S. dollar as the global reserve currency is being robustly challenged on all fronts. Other geopolitical powers and smaller but important players are unwilling to accept the political influence Washington exerts through its fiat money. And in times of trade wars, sanctions, and even tensions between allies, the push to dethrone the Greenback is once again gaining traction. Turkey is now joining Russia’s version of Swift to trade with Moscow directly in rubles and liras. Also read: Why Bitcoin Is Better Than Banks: Major Credit Card Breach Exposes 60M Accounts Trump vs Turkey Moscow and Ankara have long since put the incident with the Russian fighter jet Turkey downed over Syria four years ago behind them. And since the 2016 coup attempt against Turkish President Recep Erdogan, the two Black Sea neighbors have been moving closer and closer together. In a controversial move from a North Atlantic perspective, Turkey recently bought Russian missiles made to shoot down Western airplanes and has been offered Russia’s Su-35 fighter jets after the U.S. kicked its NATO ally out of the F-35 program. But relations between the United States and Turkey soured long before the Russian arms deal. President Obama’s administration blocked Turkish attempts to acquire elements of the U.S.-made Patriot missile system. And president Trump recently tweeted that he “will totally destroy and obliterate the Economy of Turkey” if Ankara “does anything that I, in my great and unmatched wisdom, consider to be off limits.” His message was issued on the backdrop of pressure from his own Republican Party and congressional leaders to impose sanctions on Turkey over the purchase of Russian military equipment, as the law now requires. These are not the only sparks between the two historically strategic allies. Other points of tension include America’s backing of Kurdish fighters in Syria whom Turkey considers a threat to its own security. Ankara just launched a military offensive against some of them. Add to that suspicions of connections between U.S. military personnel at the Incirlik Air Base and the organizers of the failed coup d’état against the Turkish government. Erdogan’s numerous and friendly handshakes with Russian President Vladimir Putin didn’t help either. Turkey to Settle Bills With Russia in Rubles and Liras The rapprochement between Turkey and Russia has catalyzed trade between the two countries over the past few years, with Turkish contractors building infrastructure for the Sochi Winter Olympics and Russia’s giant Gazprom completing Turk Stream, a natural gas pipeline that runs through the Black Sea. Not to mention Turkey’s nuclear power projects to be realized with Russian technology and the six million Russian tourists visiting the country last year. All this intensified economic interaction will be increasingly facilitated by transactions in the two nations’ fiat currencies. According to an announcement by the Russian finance ministry, issued October 4, Minister Anton Siluanov signed an agreement with the Turkish side to start using the ruble and the lira in cross-border payments and settlements, Reuters reported this past Tuesday. As part of the agreement, Turkish businesses and banks will now connect to the Russian version of Swift and introduce Russian Mir cards in Turkey, an alternative to Visa and Mastercard. Moscow developed its System for Transfer of Financial Messages (SPFS) in response to proposals in the West to exclude the country from Swift following the annexation of Crimea back in 2014. “We see attempts to use the dollar as a political weapon. I regard this as another big mistake,” Russian President Vladimir Putin said during the 2019 Russian Energy Week forum last week. He expressed his opinion that by implementing restrictions on the use of their currency, the Americans have “started sawing the branch on which they sit.” Putin also pointed out that “the dollar shrinks as a reserve currency in many countries around the world, including U.S. allies” and added that the same applies to dollar settlements in international trade. Putin stressed that the restrictions on Iran, the Russian Federation, and other sanctioned nations undermine the confidence in the U.S. currency. As a result, not only Russia and Turkey have been looking for settlement solutions outside systems based on the dollar. Disagreeing with the Trump administration’s decision to pull out of the Iran nuclear deal and reintroduce sanctions against the Islamic Republic, the European Union announced its own Swift alternative in January. Instex, or Instrument in Support of Trade Exchanges, was developed by France, Germany, and the United Kingdom to facilitate non-dollar trade with Iran. And in March, a central bank official in Moscow revealed several Russian banks had joined the Cross-Border Interbank Payment System (CIPS), China’s version of Swift. Is There a Better Swift Than Bitcoin? Thinking about Swift and its alternatives as well as other fiat currencies that could challenge the dollar’s dominance as a reserve currency, all of them part of geopolitical weaponry, some questions arise. For example, will Britain remain part of Instex after Brexit? Will Russia invite Ukraine to the SPFS system? What stops China from banning Taiwan from the CIPS? Will the U.S. ever make the Greenback a true world currency? There was an Eastern Bloc joke during the Cold War about a propaganda poster at a Russian hospital. “Soviet Patients Are the Healthiest Patients!” the slogan read… But there is no such thing as a healthy patient, is there? That’s why they’re all in hospital. By coincidence or not for the people in Turkey, Russia, and China, none of their governments is particularly friendly towards Bitcoin, yet are among the most eager adopters of decentralized digital currencies. For example, according to the 2019 edition of the Global Consumer Survey conducted by market data provider Statista, 20% of Turks own cryptocurrency. China is eighth among 18 polled countries with 11% of Chinese citizens holding crypto, while 9% of the surveyed Russians also said they used or owned digital coins. Until a cryptocurrency becomes the world’s reserve currency and its blockchain is used for international financial settlements, a lot of new Swifts may come into existence and many fiat currencies may try to challenge the dominance of the United States dollar. But that’s fine: bitcoin thrives in the face of adversary. What are your expectations about the future of the U.S. dollar as the world’s reserve currency? Do you think a cryptocurrency can play that role? Let us know in the comments section below. Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article. Images courtesy of Shutterstock. Do you want to dig deeper into Bitcoin? Explore past and present cryptocurrency prices through our Bitcoin Markets tool and head to our Blockchain Explorer to view specific transactions, addresses, and blocks. The post Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift appeared first on Bitcoin News. View the full article

Fall is here, and it’s a good time for reflection, regrouping and gearing up for the coming new year. In the case of crypto, looking back at the markets of the past puts things into similar perspective. An examination of the top 10 cryptocurrencies of just five years ago sheds light on how far crypto has come and how much opportunity has been either successfully leveraged or missed by investors and traders all over. Also Read: Bitcoin Cash Acceptance Grows in Southeast Asia via Alchemy’s PoS System Revisiting October 11, 2014 For those deeply engaged in the crypto space, days can seem like years for all the action, change and heated debate packed. It’s easy to forget just how far things have come and — not to put too fine a point on it — how much money has been made, lost or squandered. On October 11, 2014, the top 10 coins by market cap were as follows: Historical snapshot of the crypto market top 10 for October 11, 2014. Source: https://coinmarketcap.com/historical/20141012/ The price of bitcoin was just shy of $400, XRP wasn’t worth a cent yet, the currently 29th-ranked DOGE was a top five market cap competitor (although lower in price), and BTC maximalism wasn’t really a thing. But what would happen if one took a time machine back, and invested a thousand bucks ($100 each) into crypto’s top 10 of October 11, 2014? Today’s Market Coinmarketcap’s top 10 reads drastically different today. Bitcoin core remains on top, with an $8,550 valuation at press time. ETH, which in 2014 hadn’t even gone live, has since entered the top 10, snagging the number two spot with a market cap well exceeding $20 billion, and ripple is now worth 27 cents. Tether has since taken the crypto world by storm, but was then known as Realcoin, a solely Omni Layer protocol on the BTC blockchain. Position four today is also held by a newcomer, even though its history goes all the way back to Bitcoin’s genesis block – bitcoin cash. So let’s say we’ve taken a time machine back to fall 2014, and invested $100 dollars in each of the top 10 cryptos (BTC, XRP, LTC, BTS, DOGE, NXT, PPC, NMC, XCP and DASH) on October 11. Not counting the various forks that have taken place since then, $1,000 invested evenly across the top 10 coins would result in a portfolio valued at an impressive $13,880 today. Not too shabby, especially considering the lucrative forks that would have also added to this number considerably. Of the 10 coins invested in, only four would turn out to be losers: NXT, resulting in a roughly $55 valuation today, PPC, reducing your $100 by nearly 75%, NMC, hacking over 50% off of the original investment value, and XCP, performing similarly, ending up at about $44 today. The biggest gains would be found in XRP, with a 5,600% increase in price, DASH, with a gain of over 3,000%, and BTC, growing your $100 to a tidy $2,260. LTC ends up at about $1,500, and even DOGE comes back a winner on this timeline, growing the original investment over eight times. BTS, which has fallen from market cap glory since 2014 to rank 64, would still make you about three bucks. Better than a kick in the face, at least. It’s Not All About the Money If exercises like this can teach crypto traders and investors anything, it’s how little anyone really knows about the market’s unpredictable movements. Promising crypto projects sink into sub-decimal obscurity faster than one can say “shitcoin,” while forks and new coins rise up swiftly, bringing fierce market challenge to the old guard. Utility, adoption, innovation and community spirit all seem to play a part here, and mere dollar sign fluctuations don’t make or break a project. That said, every crypto enthusiast is at least a little interested in price, and who can blame them? Especially given the fact that so much stands to be gained on the choppy seas of crypto–particularly from a long game perspective. To stay up on the price of your favorite cryptocurrencies, as well as SLP token markets, be sure to head over to markets.Bitcoin.com and enjoy the user friendly, multi-feature interface as you chart your course. How would you invest in crypto differently if you could go back in time? Let us know in the comments section below. Image credits: Shutterstock, fair use. Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card. The post If You’d Bought These Coins in 2014, This Is What You’d Have Made appeared first on Bitcoin News. View the full article

In the wake of Paypal’s very public exit from the Libra project, U.S. lawmakers are now pressuring Stripe, Visa and Mastercard to rethink their membership of the Libra Association as well. On October 8, three letters from two U.S. senators urged the tech and finance giants to “carefully consider” risks before moving forward. Also Read: Paypal Exits Libra – Mastercard and Visa May Follow More Political Pressure As news.Bitcoin.com recently reported, Paypal has cut ties with Facebook’s upcoming crypto project by leaving the Libra Association. Libra is no stranger to strongly worded letters from government legislators, and now even corporations supporting the project are getting a taste of the regulatory backlash. Letters written by two U.S. Senators, Brian Schatz (D-Hawaii) and Sherrod Brown (D-Ohio), were sent to San Francisco-based online payment processor Stripe Inc., and finance giants Visa and Mastercard. The letters stated, in part: We urge you to carefully consider how your companies will manage these risks before proceeding, given that Facebook has not yet demonstrated to Congress, financial regulators — and perhaps not even to your companies — that it is taking these risks seriously. The risks referenced include those posed to “consumers, regulated financial institutions, and the global financial system.” The letters are only the latest episode in Libra’s ongoing struggle against lawmakers attempting to stall the legally ambiguous project, tracing back to a direct call for moratorium last summer from U.S. Congress Chair of the House Financial Services Committee, Maxine Waters. The concerns then was the same as now, mainly that Libra could disrupt the global economy. Paypal’s Reasons for Leaving While Paypal representatives did not cite a specific reason for leaving the Libra Association, some reports cite the increasing regulatory scrutiny being applied to the group, as well as a perceived lack of adequate response from Libra to lawmakers and regulators. A statement from Paypal on the matter reads: “Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities.” That doesn’t tell too much, but given the repeated interrogation and calls for bans from international regulatory groups, some feel that it isn’t too hard to connect the dots. Tech vs. State As the Libra saga continues to unfold, an interesting new narrative emerges with it. The advent of crypto has created a global situation such that massive tech and finance giants now have a tool to potentially challenge the hegemony of established regulatory bodies, should they so choose. As Paypal’s decision likely demonstrates, however, standing up to a Herculean juggernaut of geopolitical economic interests is no easy feat. Mastercard, Visa and Stripe will soon have to decide how they’ll handle the pressure as well. What are your thoughts on the letters and Libra in general? Let us know in the comments section below. Image credits: Shutterstock. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post U.S. Warns Visa, Mastercard to ‘Proceed With Caution’ Regarding Libra appeared first on Bitcoin News. View the full article