Day: November 27, 2018

Coinbase Wallet Adds Support for Ethereum Classic

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Coinbase Wallet, provided by major U.S. crypto exchange Coinbase, has launched support for Ethereum Classic (ETC), according to an official company blog post Nov. 27. Ethereum Classic is the result of a hard fork in 2016, arising out of differences into how to respond to the high-profile DAO hack of the Ethereum (ETH) blockchain. Today’s blog post outlines that the Coinbase Wallet app should update over the “next few days,” after which users will be able to view, send and receive ETC to their addresses. Fo existing Coinbase Wallet users,…

Bitcoin Is World’s Best Performing Asset Class Over Past 10 Years, Says Pompliano

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Crypto industry investor Anthony Pompliano says Bitcoin (BTC) will likely fall to 85 percent below its all-time-highs – around $3,000. Pompliano gave his forecast during an interview on CNBC’s Squawk Box Nov. 26. The partner at crypto investment firm Morgan Creek Digital Assets argued that while “Bitcoin was overvalued in Dec. 2017” – with selling pressure this year subsequently driving its price downwards – there are several important factors related to the asset’s long-term value that are important to remember: “First, [Bitcoin] is the most secure transaction settlement layer in…

US: Ohio Becomes First State Where Businesses Can Pay Taxes With Bitcoin

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Up to 23 different kinds of taxes can be paid with the cryptocurrency according to the state’s treasurer. Ohio has just become the first U.S. state and one of the first governments in the world to allow businesses to pay taxes, including sales and public utility taxes, with bitcoin. State Treasurer Josh Mandel announced Monday that businesses can now register for the program through the website OhioCrypto.com, a portal that will, via a third-party processor called BitPay, convert the digital currency into dollars that will then be deposited into the state’s…

Bitcoin Tax Payments in Ohio is Now a Possibility

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Ohio might just become the first state to successfully adopt Bitcoin as tax payment, after failed attempts from other states in the country. Ohio’s Cryptocurrency Initiative Set to Fly High According to the Wall Street Journal, businesses in Ohio can now pay its taxes, ranging from taxes from cigarette sales to employee taxes, using the virtual currency, Bitcoin. Companies interested in using Bitcoin as a mode of payment are directed to OhioCrypto.com to register. Josh Mandel, the Ohio Treasurer, and a long time Bitcoin aficionado initiated the idea of using…

Chinese Mining Operations Reportedly Closing Due to Crashing Crypto Markets

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Chinese Mining Operations Reportedly Closing Due to Crashing Crypto Markets November 27, 2018 by Ian Edwards The plunging price of bitcoin and other cryptocurrencies may be forcing some Chinese mining operations to turn off their machines, according to a new report. With mining becoming less profitable, or not profitable at all, some miners are simply ceasing operations. Also read: Edward Snowden Slams Bitcoin, Consensus Algorithms Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Some Chinese Mining Firms Halting Operations Citing anonymous sources, Chinese media outlet Caixin…

Bitcoin Price Watch: BTC/USD Buyers Facing Uphill Task

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Key Points Bitcoin price struggled to break the $4,120 resistance area and declined against the US Dollar. Yesterday’s highlighted crucial bearish trend line is active with resistance at $3,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to struggle to clear the $3,900 and $4,000 resistance levels in the near term. Bitcoin price remained below the $4,000 barrier against the US Dollar. BTC/USD could decline below $3,600 if it fails to move above the $4,000 barrier. Bitcoin Price Analysis Yesterday, we saw…

Cardano, Litecoin, Monero, EOS, Stellar Lumens Price Analysis

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Generally, altcoins are on a downtrend and as long as Bitcoin is under immense sell pressure then they shall continue printing lower lows that’s unless there are specific coin news to jolt prices altering our Litecoin, Stellar Lumens, EOS, Monero or Cardano price analysis Let’s have a look at these charts: EOS Price Analysis Even though EOS is now the fourth valuable coin in the space thanks to the upheavals at Bitcoin Cash, the coin’s valuation is on a decline just like the market is. After all, as far as…

US SEC Chairman Clayton Keeps Quiet on ICO, ETF Regulation Updates

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The chairman of the U.S. Securities and Exchange Commission (SEC) Jay Clayton reiterated the regulator’s strict stance on Initial Coin Offering (ICO) compliance in fresh comments to CNBC Nov. 26. Speaking in an interview with CNBC, during which presenters mentioned the recent enforcement deals with ICOs Paragon and Airfox, Clayton underlined the need to conduct public token sales with U.S. consumers in line with SEC guidelines. “We’ve had no ICOs register [with the SEC],” he told reporters, adding: “To the extent that an ICO is being conducted offshore or pursuant…

ICO fines Uber £385,000 over data protection failings

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The Information Commissioner’s Office (ICO) has fined ride sharing company Uber £385,000 for failing to protect customers’ personal information during a cyber attack. A series of avoidable data security flaws allowed the personal details of around 2.7million UK customers to be accessed and downloaded by attackers from a cloud-based storage system operated by Uber’s US parent company. This included full names, email addresses and phone numbers. The records of almost 82,000 drivers based in the UK – which included details of journeys made and how much they were paid – were…

Bitcoin Price Drops 7% Again as Crypto Market Struggles to Retain Momentum

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Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Throughout the past 24 hours, the price of Bitcoin (BTC) dropped from $4,065 to $3,600, reversing a short-term corrective rally. The dominant cryptocurrency has been on a steep downtrend for several weeks but on November 26, for a brief of time, Bitcoin seemed to be initiating a corrective rally after reaching a new yearly low at around $3,400. Temporarily, Bitcoin spiked to $4,000, engaging in a…