Day: July 13, 2019

President Donald Trump Spouts Crypto-Bashing Tweets; The Crypto Community Responds

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The most powerful man in America (and possibly in the world), President Donald Trump, aggravated the crypto community on July 12 when he took to his Twitter account to rain down fire and brimstone on Bitcoin, the soon-to-be-launched Facebook Libra, and other cryptocurrencies. In his multiple crypto-bashing tweets, Trump stated without mincing words that he is not a fan of cryptocurrency. Punching even harder, Trump added that cryptocurrencies “are not money” and that their value is highly volatile and based on thin air. In another tweet, he called out Facebook…

Find Bitcoin and Cryptocurrency ATMs Nearby

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Photo: Shutterstock Use of cryptocurrencies on a regular basis is increasing around the world. Amongst these, Bitcoin is by far the most popular cryptocurrency. With such a rapid increase in popularity, more and more people want to get their hands on these digital currencies. Whenever we want to buy some cryptocurrency, we need to transfer fiat currency from our banks to the bank account of a cryptocurrency exchange. Usually, this would take at least a week for your transferred funds to appear on your crypto exchange wallet after which you…

Bitcoin Price (BTC) Remains Vulnerable, Risk of More Losses

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Bitcoin price tested the $11,000 support level and recently recovered higher against the US Dollar. The price recovered close to the $11,900, but upsides remain capped below $12,000. There is an ascending channel forming with support near $11,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could start a strong decline if there is break below $11,500 and $11,400 in the near term. Bitcoin price is facing an uphill task with many hurdles near $12,000 against the US Dollar. BTC remains vulnerable as long…

During $1,500 Bitcoin Dump, Coinbase Whales Were Buying BTC

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Coinbase Whales Bought the Bitcoin Dump Bitcoin hasn’t had the best week. After rallying past $13,000 for the first time in over a year, the cryptocurrency stumbled. Hard. After flirting with the $13,000 price point for all of some six hours, Bitcoin fell, tanking by $2,000 in the following day. In fact, as of the time of writing this, BTC sits at $11,800, basically flat on the day, but wayyyy down on the week. It isn’t too clear what triggered the sell-off. Some have looked to comments from both the…

Binance to Burn Over $2.5 Billion of Its BNB Stash. Guess Who Benefits?

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Binance yesterday completed its eighth quarterly “burn” of BNB. With this move, the exchange follows its commitment to reduce the total token supply periodically. However, along with the obligatory token burn, Binance CEO Changpeng “CZ” Zhao announced that his company would relinquish its entire BNB allocation as part of its efforts to promote the growth of the ecosystem. He said: “Today, on behalf of the Binance team, I am announcing that we will give up all of our BNB allocations and contribute towards our commitment to burning a total of…

Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

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Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions from VAT, a decision that affirms Bitcoin’s status as a currency. The same has already happened in many other jurisdictions, despite the absence of comprehensive regulations. Also read: Money Laundering Scandals Bring Court Charges and Record…

Brazilian State Launches Blockchain Platform for Government Contract Bids

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In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12. The blockchain-based solution, called Online Bid Solution (SOL) was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secure due with the application of blockchain tech. According to Bahia government, the intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The solution is designed to help connect agriculture organizations in Bahia with…