Day: November 20, 2018

Bitcoin’s Price On Pace to Post Worst Month Yet in 2018

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Bitcoin’s drop to 13-month lows has likely put the cryptocurrency on the path to post its worst monthly loss of 2018. The leading cryptocurrency is currently trading at roughly $4,700 – down roughly 26 percent from the monthly opening price of $6,320 – according to CoinDesk market data. As of now, November is the second-worst month of 2018, the first being March with a 32 percent price drop. November, however, would take the top spot if prices find acceptance below $4,200, pushing the monthly loss above 32 percent. Indeed, BTC…

Blockchain Network Takes on Ethereum ERC20 and Claims it is Faster and Cheaper

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A new blockchain platform believes it is a “more attractive and accessible destination” for hosting tokens than the likes of Ethereum’s ERC20 platform, as it gives developers the support they need to build, market and launch custom tokens successfully. LindaX says it wants give entrepreneurs an opportunity to sculpt “absolutely unique tokens with exclusive features for designated transactions” – all the while helping them to “navigate the unfamiliar environment of cryptocurrency.” According to its white paper, the startup’s team would be on hand to help fledgling businesses forge connections with exchanges…

Spain’s Finance Ministry to Inspect 15,000 Crypto-holding Taxpayers to Prevent Tax Fraud

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The Spanish Ministry of Finance (Hacienda) will oversee 15,000 taxpayers who have made transactions with cryptocurrencies in the last year, El País, the largest Spanish-language newspaper, reports Nov. 19. Under the auspices of Hacienda, Spain’s tax agency, the Agencia Estatal de Administración Tributaria (AEAT), underlined that it will monitor “the fiscal incidence of these new technologies, such as blockchain and, especially, cryptocurrencies,” to prevent tax fraud actions as a part of its annual tax control plan. The National Fraud Investigation Office (ONIF) of the tax agency has investigated dozens of…

Peru’s Central Bank Says Cryptocurrencies Are Risky Due to High Volatility

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Peru’s central bank has reacted to the recent crypto markets collapse by warning about the high volatility of digital currencies on its Twitter Friday, Nov. 16. In its recent post, the Peruvian central bank included Bloomberg graphics on Bitcoin’s (BTC) price from December 2017 to mid-November 2018. The picture is followed by a statement: “Cryptocurrencies are not supported by central banks and pose risks due to the high volatility in their price, fraud cases and their possible use in illicit activities. Bitcoin’s price fell 56% as of October 2018, and…

UK Regulator Considers Cryptocurrency Derivatives Ban Due to Market ‘Integrity Issues’

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The U.K.’s finance regulator, the Financial Conduct Authority (FCA), may ban cryptocurrency derivatives such as futures as part of its “most comprehensive response” to the industry, according to a speech published Nov. 20. In a speech at “The Regulation of Cryptocurrencies” event in London Tuesday, FCA executive director of strategy and competition Christopher Woolard said the organization would consult on forbidding so-called cryptocurrency contracts-for-difference (CFDs). This, says Woolard, would “likely” also incorporate “options, futures and transferable securities.” The publication quoted Woolard as saying: “We’re concerned that retail consumers are being…

Blockchain New Foundation of Democracy? Blockchain Based Voting app VOATZ could Lead the Way

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ADVERTISEMENTS Blockchain may soon become the new cornerstone of democracy, because of its key characteristics – safety, security, transparency and inalterability of recorded data. The distributed ledger technology could ensure the integrity of election systems at all levels, claim the experts of the ICOBox’s International Blockchain Research Center (IBRC). Last week, voting through blockchain was piloted in the US. US citizens located in 29 countries were able to vote in midterm elections using mobile app Voatz. The process went as follows: voters had to register in the app and upload a…

NBA Superstar Kobe Bryant to Attend Crypto Summit as Special Guest Speaker

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Kobe Bryant, twice Olympic gold medalist and NBA superstar, will appear as a guest speaker at the NiTRON Summit 2019 in San Francisco, decentralized Internet project TRON (TRX) shared exclusively with Cointelegraph Nov. 20. Basketball champion Kobe Bryant has been invited to the conference as a special guest to “share his thoughts and life experience to inspire young leaders and entrepreneurs,” the press release states. The press release notes that Bryant is a guest of TRON founder Justin Sun. Over the past several years, the crypto community has received a…

Bitcoin News Crypto Currency Daily Roundup November 20

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The rundown: Bitcoin and all major currencies were down in the morning; Singapore-based community cryptocurrency exchange Cryptology Exchange introduces cryptocurrency margin trading; Bank of Thailand Governor Veerathai Santiprabhob says digital currency isn’t going to replace cash in Thailand within the next 3-5 years; Indian crypto exchange WazirX CEO Nischal Shetty is asking the government to regulate Bitcoin and other digital currencies; Autodesk CEO believes that blockchain can stem corruption in the construction industry; Humans.net launches a blockchain-powered global peer-to-peer freelance network; and more. Here is what is happening in the…

Tron Unveils a $1 Million Dapp Incubator Program

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The Tron Foundation has released a statement announcing the official launch of the Tron Accelerator, a program seeking to fund up to $1 million in DApps, decentralized apps, at their incubation stage. 56 projects will share the $1Million funding Fifty six projects will participate in program whose winners will be announced In January next year during Tron’s annual niTROn Summit in San Francesco. The $1 million price will be drawn from the Tron foundation’s fund. Through its twitter handle, Tron Foundation announced, “We are empowering developers by releasing #TRON Accelerator,…

Bitcoin Hash Rate Declines to August Levels as Some BTC Miners Consider Shutting Down

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The current state of the cryptocurrency markets can be compared to the free-fall experienced due to gravity when someone jumps out of a plane before deploying a parachute. Ever since the 14th of November this year, the value of BTC has fallen from levels around $6,300 to current levels of $4,500. This is a drop of close to 30% in a period of less than a week. BTC touched a new low a few hours ago at $4,380 with many crypto traders are concerned that the King of Crypto has…