Month: October 2019

Canada Pushes to Regulate Crypto Adoption, Forgoing Volatile BTC Past

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Recently, Canada’s central bank has been leading working groups with global partners exploring a blockchain future. Their crypto presence has soared with Ernst & Young’s announcement that it is using Toronto to test its public government expenditure blockchain. But what is the cryptocurrency landscape currently like in Canada?  The history of crypto in Canada may seem as volatile as a token with a small market cap, yet mainstream use and adoption have been on a consistent incline since 2013, when Canadians started pushing mainstream adoption. Now, the Canadian government is…

Regulators Hostile to Bitcoin Will Fall Out of Favor, Warns Samson Mow

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Hostility to Bitcoin (BTC) from the global regulators is a double-edged sword that can hurt authorities if they lose their power, the Blockstream Chief Strategy Officer (CSO) warned. During a panel at a Liquid meetup at Litecoin Summit on Oct. 29, Blockstream CSO Samson Mow predicted that regulatory restrictions to Bitcoin could have both favorable and unfavorable consequences for the regulators themselves. Regulators should be careful while enforcing Bitcoin regulation The panel is a part of the event hosted by BTC technology firm Blockstream and BTSE exchange in Las Vegas,…

Top Five Tips for New Bitcoin Investors

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Investing in Bitcoin (BTC) can be quite intimidating if you’re only just learning about its existence now. In fact, taking the plunge and entering the cryptocurrency sphere is a risk for anyone, with or without investment experience. This is because the crypto space has no centralized authority to guide investors. Rumors, hype and horror stories dominate the internet, and separating fact from hearsay can be difficult at times. Like any other business venture, you should never get your feet wet until you have all the facts straight. Many Bitcoin investors…

Meet the Startup That Wants to Connect Linux to the Blockchain

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The scalability challenge has become one of the biggest debates in the blockchain space. However, very few people recognize that many current blockchain projects are a variation of Bitcoin and Ethereum, neither of which was designed with scalability in mind. Satoshi Nakamoto deliberately engineered full consensus into the Bitcoin protocol. It creates a vast amount of redundancy when transactions and storage are replicated across the entire network. Vitalik Buterin conceived Ethereum as the next iteration of blockchain beyond cryptocurrencies, one that would allow smart contract programming. Only once the potential…

Bitcoin and Ether Market Update: October 31, 2019

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Total crypto market cap lost $7.5 billion of its value since Monday, October 28 and now stands at $244.8 billion. Top ten coins are all in red for the last 24 hours with Bitcoin SV (BSV) and TRON (TRX) being the worst performers with 4.6 and 4 percent of loses respectively. At the time of writing bitcoin (BTC) is trading at $9,110 on the Bitstamp daily chart, while ether (ETH) stands at $182 and Ripple’s XRP stays around $0.293. BTC/USD Bitcoin formed its third consecutive green candle on the daily…

Satoshi Nakamoto’s Dream Project Bitcoin Turns 11 Today

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Bitcoin has completed 11 years since the release of its official whitepaper. Here’s a brief journey about the crypto and its growing popularity. Today, October 31, marks the 11th birthday of Bitcoin after its founder Satoshi Nakamoto unveiled the whitepaper back in 2008. Over the last 11 years, Bitcoin has established its supremacy in the crypto market as the world’s largest cryptocurrency by market cap. On 31 October 2008, Satoshi Nakamoto published the #Bitcoin Whitepaper. Happy Anniversary $BTC! Test your Bitcoin knowledge📑https://t.co/JECDzwxCnI Discover the history behind #Blockchain🔗https://t.co/EhvS2nH6BR pic.twitter.com/YUlpKiZFPg — Binance…

US, EU and UK Companies Can Now Pay Workers in Bitcoin Cash via Bitwage

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Getting at least partially paid with cryptocurrency is a great way to enter the digital asset market without having to do any trading. If you are looking to earn your favorite crypto asset, Bitwage now allows American, European and British companies to pay workers in bitcoin cash following demand for more payment options. Also Read: Binance to Add Bitcoin Cash to Its Decentralized Exchange You Can Now Get Paid With Bitcoin Cash International cryptocurrency payroll and human resources service provider Bitwage has recently announced the launch of bitcoin cash payrolls.…

Claims Deadline Pushed Back to Spring 2020

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The trustee in charge of refunding users who lost money in the implosion of Bitcoin (BTC) exchange Mt. Gox has again extended the submission deadline for claims.  New claims deadline March 31, 2020 In a statement released on Oct. 28, Nobuaki Kobayashi said that the high volume of problematic requests for money meant that a five-month extension was inevitable.  Kobayashi confirmed the plan just one day before the current deadline arrived. That, too, was the result of an extension which the trustee agreed in April.  “A large amount of rehabilitation…

Blog: Live facial recognition technology – police forces need to slow down and justify its use

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By Elizabeth Denham, Information Commissioner. As far back as Sir Robert Peel, the powers of the police have always been seen as dependent on public support of their actions. It’s an ideal starting point as we consider uses of technology like live facial recognition (LFR). How far should we, as a society, consent to police forces reducing our privacy in order to keep us safe? That was the starting point to my office’s investigation into the trials of LFR by the Metropolitan Police Service (MPS) and South Wales Police (SWP).…

How to Report Crypto Assets Accurately

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The United States Internal Revenue Service (IRS) is continuing to focus its efforts in cryptocurrency. After sending a recent enforcement letter, the IRS has released two new pieces of guidance for taxpayers who engage in transactions involving digital currency. The new guidance includes Revenue Ruling 2019–24 and FAQs, including guidance for using the specific identification method. Additionally, the IRS has published a new draft for form 1040 Schedule 1, including a broad declaration regarding crypto holdings or trade. Here is a breakdown of these publications. Revenue Ruling 2019–24: airdrops and…