Day: July 11, 2019

With Massive Bitcoin Short Gone, BTC Could Drop Another 23%

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Multi-Million Bitcoin Trade “Claimed” Just recently, a Bitcoin trader on Bitfinex claimed, not liquidated, 9,000 BTC worth of shorts — a position that was collateralized by over $100,000,000 worth of the cryptocurrency if unlevered. For those unaware of the complexities of Bitfinex’s long-short trading system, the “claim” means that the trader (assumed to be one entity due to the speed of the claim) used funds in his/her/their margin wallet to settle the short. Unlike liquidations, which happens when shorts or longs are forced to close their positions after a large move, all this…

US Reintroduces Bill For Clarity on Tax Reporting for Forked Asset Gains

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US Congressman Tom Emmer reintroduced a bill for clarity from the Internal Revenue Service (IRS) on the treatment of gains or losses in “forked” digital assets, such as Bitcoun and bitcoin Cash, for the purpose of filing income tax return. The “Safe Harbor for Taxpayers with Forked Assets Act” bill was initially introduced by Emmer in September 2018 for guidance regarding the appropriate means of reporting them. Emmer said taxpayers can only comply with the law when the law is clear. The bill calls for prohibiting penalties against taxpayers until…

LO3 Energy Secures Investment from Global Energy Giants Shell and Sumitomo

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Startups from the energy have already started studying blockchain technology and exploring the ways to utilize it to track and monitor energy products. Now, another energy startup called LO3 Energy flashed into the blockchain news as two global corporate giants, Shell Ventures and Sumitomo Corporation Group, invested in the company to develop a blockchain-based platform. LO3 energy has announced the investment in a press release, saying that the support from these global energy firm will help LO3 to expand its energy networks. LO3 Energy is a Brooklyn-based blockchain development company…

Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto? |

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The bitcoin price rally this week hit a snag as the world’s most powerful banker publicized his views on the Facebook’s upcoming cryptocurrency project. The BTC/USD instrument plunged by up to 15.43 percent to settle a session low of $11,169.36 on San Francisco-based Coinbase exchange. The move downside took place after the Federal Reserve Chairman Jerome Powell expressed ‘serious concerns’ about Facebook’s cryptocurrency, Libra. The banker said the social media giant’s project raises issues regarding“privacy, money laundering, consumer protection, and financial stability.” “These are concerns that should be thoroughly and…

Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto? |

boss

The bitcoin price rally this week hit a snag as the world’s most powerful banker publicized his views on the Facebook’s upcoming cryptocurrency project. The BTC/USD instrument plunged by up to 15.43 percent to settle a session low of $11,169.36 on San Francisco-based Coinbase exchange. The move downside took place after the Federal Reserve Chairman Jerome Powell expressed ‘serious concerns’ about Facebook’s cryptocurrency, Libra. The banker said the social media giant’s project raises issues regarding“privacy, money laundering, consumer protection, and financial stability.” “These are concerns that should be thoroughly and…

Second Crypto Investment for Visa with Cryptocurrency Holdings Startup Anchorage

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Visa, one of the largest payment processors in the world has recently made its second investment in cryptocurrency startup called Anchorage. As reported by Fortune, the company has reportedly invested millions of dollars during Anchorage’s new funding round. Both Visa and Anchorage have partnered with Facebook for its cryptocurrency project Libra. This is the second time that Visa has shown interest in a cryptocurrency startup and poured millions into it. Visa first invested in a blockchain startup called ‘Chain,’ an enterprise blockchain firm which was later acquired by Lightyear, a…

Satoshi Awards to Honor ‘Ethical Innovation on the Blockchain’

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Satoshi Awards to Honor ‘Ethical Innovation on the Blockchain’ July 11, 2019 by Jon Southurst Know anyone in the cryptocurrency world who could use some extra recognition? Nominations will open soon for The Satoshi Awards. The awards will premiere at a ceremony in Acapulco, Mexico in February 2020 with the theme “Honoring Ethical Innovation on the Blockchain”. Also read: Bitcoin Price Loses Strength Under $12K, but Expect More Volatility Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Prominent Libertarians Head Nomination Committee The Satoshi Awards organizers also…

Facebook’s Libra Concept Will Impact Cross-Border Payments: Ex-PBoC Chief

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A former governor of the People’s Bank of China (PBoC) has indicated that Beijing may delegate the issuance of digital currency to commercial entities, the Hong Kong-based South China Morning Post newspaper reported on July 11. Zhou Xiaochuan, who stood down as head of the central bank in 2018 after 15 years, revealed the country may adopt a new approach for its sovereign digital currency scheme — taking inspiration from Hong Kong’s monetary system and Facebook’s Libra project. In Hong Kong, three banks issue their own banknotes and collateralize them by holding US dollars in reserve, while the…

Warning! Bitcoin Could Spiral to $9,000 with Flailing Overheated Indicators

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Bitcoin’s parabolic ascent looks unstoppable. Recently, every correction has been seen as an opportunity to buy heavily on dips. This week, the number one cryptocurrency is up by as much as 15 percent and it looks like bulls are gunning for the 2019 high of $13,868.44. The atmosphere is so bullish that CryptoTwitter is starting to feel euphoric. One cryptocurrency trader and investor that goes by the name Josh Rager shared an image of a majestic bull with a caption “$13k $BTC” to illustrate the strength of the uptrend. $13k…

Support for TRON and Bitcoin Blockchains Added on Opera’s Crypto Wallet

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Photo: Opera Blog On July 10, Opera browser launched exciting, innovative features incorporated into Crypto Wallet in the beta version of Opera browser on Android (version 53 beta). The new feature is accompanied by support for TRON and Bitcoin blockchains, an initiative which helps to make Web 3 more mainstream. Initially, Opera’s built-in Crypto Wallet could only support ERC-tokens and Ethereum. And now the updated version supports both TRON and Bitcoin. It is far safer to say that Opera browsers are Web 3 ready as it sets the pace for…