Day: August 12, 2019

Bitcoin, Ether, and XRP Weekly Market Update August 12, 2019

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The total crypto market cap lost $7.7 billion of its value over the last seven days and now stands at $297.9 billion. The top 10 currencies registered mix results for the same time frame with Binance Coin (BNB) gaining 10.5 percent while Litecoin (LTC) lost 5.7 percent of its value. By the time of writing bitcoin (BTC) is trading at $11,336 while ether (ETH) stands at $211. Ripple’s XRP fell to $0.299. BTC/USD Bitcoin regained its position above $11,000 on Sunday August 4, and for the first time since July 14 closed above…

Indian Telecom Jio Reveals Blockchain Network for 330 Million Customers

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Indian telecoms provider Reliance Jio Infocomm Limited (known as Jio) has pledged to build what it describes as one of the world’s largest blockchain networks. Chairman: Nodes to be active from day one Speaking at the company’s 42nd AGM (1.01) on Aug. 12, chairman and managing director Shri Mukesh D. Ambani said blockchain technology formed one of three main areas of expansion for Jio.  Since debuting in 2015, the company has become one of India’s major mobile networks, with a current user base of over 330 million people.  “Over the…

Dash Works Overtime to Distance Itself From “Darkcoin” Past

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After emerging as one of the original privacy coins, Dash now seeks to shed its ‘darkcoin’ past. Source: Shutterstock With an eye toward alleviating regulatory fears, Dash recently began circulating a primer which works to explain its privacy features. The Darkcoin Past Dash founded the first era of “privacy” coins when it was created by Evan Duffield in the form of “Darkcoin.” The name didn’t come from its potential for nefarious purposes, but rather the notion of “going dark,” or at least not being fully transparent, as you are by default in…

US Department of Commerce Offering 6-Figure Salary to Crypto Expert

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The United States Department of Commerce is looking to hire a computer scientist specializing in blockchain and identity management. According to a job listing from Aug. 9, the federal agency is seeking someone with at least one year of specialized experience in developing blockchain infrastructure and conducting research into blockchain technologies, crypto ledgers and crypto contracts.  Focus on identity management and crypto tokens The Department of Commerce’s listing hints at the future hire’s duties and responsibilities in general terms, revealing only that they will be tasked with research and development…

New Blockchain Patent Shows IBM Wants to Enter the Web Browsing Arena

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Recently, IBM filed another patent that details a blockchain-powered web browser interface. On August 6, 2019, IBM’s patent for an interface of a web browser powered by distributed ledger technology was filed with the United States Patent and Trademark Office. According to patent, the newly developed blockchain-backed browser will gather some pre-decided information from the users’ browsing session. The user-agreed information – which will be collected in order to give a better browsing experience – will vary on the type of browsing experience chosen. For instance, when a user navigates…

Coinbase UK Dropping Support for Cryptocurrency Zcash

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The U.K. arm of Coinbase appears to be dropping support for the privacy-focused cryptocurrency zcash. According to customers, Coinbase UK is sending letters out warning people that they will need to convert their zcash (ZEC) holding, or remove them to an external wallet, by Aug. 26. @zcash @ElectricCoinCo @coinbase what’s going on with Zcash in the UK? pic.twitter.com/6GWS9CuIoH — Alex (@deskofwilkes) August 8, 2019 The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining ZEC balances on Aug. 26 will be automatically converted to…

New Zealand Rules Receiving Income in Bitcoin Is Legal, Taxable

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New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed. In a tax information bulletin published on July 4, the New Zealand Inland Revenue Department summarized the provisions of the public ruling, made under s 91D of the country’s Tax Administration Act 1994. Crypto used must be “money-like” to be taxed Specifically, the guidance on the income tax treatment of crypto assets applies to payments in crypto that form part of the employees’ regular salary and are fixed…

Bitcoin Price Posts Best Weekly Close of 2019 as $11.5k Now Resistance

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Bitcoin (BTC) price succeeded in hitting its highest weekly close of 2019 last week, further dispelling fears of a fresh price breakdown. Market visualization. Source: Coin360 Another price milestone for Bitcoin  Data from Coin360 put BTC/USD trading at around $11,360 as of press time on Aug. 12. The largest cryptocurrency finished the week closer to $11,500 on some exchanges, marking its best effort of the year.  Bitcoin 7-day price chart. Source: Coin360 Odds had been high that Bitcoin could surpass its 2019 weekly close record, with analysts last earlier hoping…

Bitcoin (BTC) Price At Risk Of More Downsides Below $11,200

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Bitcoin price is currently under pressure below the $11,600 resistance against the US Dollar. The price could slide sharply if there is a break below the $11,200 support area. There is a major bearish trend line forming with resistance near $11,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price might correct higher, but upsides are likely to be capped near $11,600 and $11,700. Bitcoin price is trading in a bearish zone below $11,800 against the US Dollar. BTC price remains at a risk of…

Crypto Market And Bitcoin Could Correct Further: BCH, BSV, BNB, ADA Analysis

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The total crypto market cap started a downside correction from the $315.0B swing high. Bitcoin price declined below $11,500 and tested the $11,200 support area. BCH price is gaining momentum and it is currently trading above the $330 resistance. BSV price is showing positive signs and it is trading above the $140 support area. Binance Coin (BNB) is currently consolidating gains above the $30.00 support area. Cardano (ADA) price is facing a lot of hurdles on the upside near the $0.0600 resistance. The crypto market cap and bitcoin are currently…