Day: April 7, 2020

Bitcoin Price Will Go Up as Only Profitable Miners Remain: Data Analyst

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Approximately 4-weeks ago global equities markets were in distress as investors finally realized that the coronavirus was not just an illness restricted to China, but rather a global pandemic which could permanently damage economics across the globe.  Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and investors will recall that on March 13 Bitcoin (BTC) price dropped more than 50% in the span of 24-hours.  To date, the volatility and…

Investigating Digital Assets in Japan Stymied by Nature of Crypto

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According to top government officials in Japan, the current national tax system is not yet capable of accepting declarations of digital assets, potentially leading to outflows overseas. In a Q&A session at the Financial Statements Committee on April 6, Representative Shun Otokita of the Japan Innovation Party pointed out the importance of market research for the introduction of separate taxes for crypto currencies. Otokita was concerned with the current high-tax system in Japan. He acknowledged that it would be difficult to quickly change the tax code to apply to digital…

Hyperbitcoinization: Visions of Bitcoin Fueling the Post Covid-19 Shadow Economy

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With the recent coronavirus spread and its overall effect on the global economy, some people believe the powers that be are preparing a financial reset. During these times, a number of bitcoiners think a bitcoin-induced form of fiat currency demonetization will take place, otherwise known as ‘hyperbitcoinization.’ However, a few speculators believe digital assets in the crypto economy are actually meant to further the underground shadow economy. In a world filled with overbearing politicians and malicious data-collecting corporations, the surveillance state could easily make cryptocurrencies far more valuable by fueling…

BitMEX Operator Gives $400K Sponsorship to Cybersecurity Nonprofit

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HDR Global Trading, the operator of crypto exchange BitMEX, is giving a $400,000 grant to the cybersecurity nonprofit Shadowserver Foundation. In an April 6 statement on the company’s blog, HDR Global Trading announced that it would offer $400,000 to the organization over the next four years. The BitMEX operator will be acting as a member of the nonprofit’s new industry alliance for Internet security. Richard Perlotto, Shadowserver Director, thanked HDR for “their rapid response to our call for help” and emphasized the organization’s commitment to fighting cybercrime. The director is…