Day: January 4, 2019

Inside Ethereum’s Plan To Reduce Energy Consumption by 99%

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Ethereum intends to move to proof-of-stake in the future. Making a move to POS will supposedly cut the energy consumed by a hundredfold, or around 99%. There have been repeated claims that cryptocurrency uses too much energy and is therefore inefficient and environmentally unfriendly. Some reports find that mining cryptocurrency uses more energy than gold mining, some the opposite. Some researchers find that mining is overall bad for the environment. Ethereum started out with the goal of becoming a world computer, with the blockchain being the first to introduce smart…

Overstock Becomes the First Major US Company to Pay Business Tax in Bitcoin

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News The cryptocurrency-friendly company Overstock.com announced on Thursday that company will be paying part of its business taxes to the state of Ohio using bitcoin. Overstock will use the state’s Ohiocrypto.com website to pay for the corporation’s commercial activities tax this year. Also read: 10 Years Ago Bitcoin’s Genesis Block Changed the Course of History Overstock Pays the Company’s Business Tax in Bitcoin Last November, the U.S. state of Ohio launched a payment portal that allows businesses to pay taxes with bitcoin core (BTC) and bitcoin cash (BCH) via Bitpay’s payment…

Circle Executed $24 Billion in OTC Trades in 2018

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The over-the-counter (OTC) trading desk at cryptocurrency finance firm Circle had a notional volume of $24 billion in 2018, according to an official Medium blog post on Jan. 3.   Per the statement, Circle executed 10,000 OTC trades with 600 different counterparties, at $24 billion in volume. As such, the company claims to have become a “core liquidity provider to the entire crypto ecosystem.” According to Circle, the firm now partners with over 1,000 institutional clients such as exchanges, token projects, OTC desks, asset managers, and other global endowments. Circle…

Crypto Adoption: Pro-Blockchain Overstock Pays Taxes In Bitcoin (BTC)

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Overstock Pays Business Taxes In Bitcoin According to a press release from Overstock.com’s Investor portal, the Salt Lake City-headquartered online retailer and blockchain technology startup will begin to pay its business taxes with Bitcoin (BTC). You might be thinking — the U.S. seems to avoid crypto like its the plague, so how is this possible? Well, as reported by Ethereum World News previously, per a piece from the Wall Street Journal, an Ohio politician, Treasurer Josh Mandel, pushed his state to accept BTC for 28 types of business taxes, which range…

Bitcoin ATM Producer Moves to Switzerland Due to Regulatory Difficulties

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Bitcoin (BTC) automated teller machine (ATM) manufacturer Lamassu has moved to Switzerland due to regulatory difficulties in other countries, according to a blog post published Jan. 1. Lamassu — now called Lamassu Industries AG — has moved to the Swiss canton of Lucerne, because the firm wants “to be in a place where rules are well defined and regulators are pro-innovation.” Lamassu revealed in the post that its applications to open an account were rejected by 15 banks because it produces terminals for Bitcoin, while not taking part in trading…