Day: February 3, 2022

How much MONEY did I EARN Mining Ethereum for 30 days?!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io How much MONEY did I EARN Mining Ethereum for 30 days?! I am mining Etehreum at home earning passive income with cryptocurrency. Ethereum is the best cryptocurrency to mine, but are the ETH and GPU miners still worth buying! This is the BEST miner to buy right now – Subscribe to VoskCoin – Learn more about Polars – Learn more about Transient – Get $250 for free with BlockFi – Get $25 for free with CryptoCom – Compass has miners in stock!…

The Battle to Change How the IRS Taxes Mining and Staking

Two Tezos stakers sued the IRS to get back taxes paid on property they say they created through staking. The IRS offered to pay them back but didn’t commit to clear policy guidance. The stakers will now continue the suit, and they’re being backed by the Proof of Stake Alliance. NLW also examines a new bill that would eliminate taxes on bitcoin transactions with capital gains under $200. Source

Immutable X (IMX) price soars after GameStop partnership and new project launches

Nonfungible tokens (NFT) continue to be one of the hottest sectors of the cryptocurrency market in 2022 despite the overall multi-month weakness seen in Bitcoin (BTC) and other large-cap crypto assets. One project that has benefited from the persistent bullishness in the NFT space is ImmutableX (IMX), a layer-two scaling solution for NFTs on the Ethereum network designed to offer near-instant transactions and zero gas fees for minting and trading Data from Cryptox Markets Pro and TradingView shows that after hitting a low of $1.99 on Jan. 24, the price…

What A Decline Under $35,511 Would Mean For The Price Of bitcoin

Bitcoin has lost its footing at $37,000 and has now slipped into the $36,000 territory, sending the market into another frenzy of fear. It comes on the back of widespread speculations that the digital asset had indeed hit its bottom. But with the current trend, the digital asset may end up sliding down further. To this end, Fundstrat analyst Mark Newton has laid out the possibilities for bitcoin if it declines further than $35,511. What Happens Below $35,511 Technical analyst Mark Newton has put forward a bullish outlook for bitcoin…

Calling a Hack an Exploit Minimizes Human Error

Yesterday, beginning at 18:24 UTC, someone or something exploited a security vulnerability on Wormhole, a tool that allows users to swap assets between Ethereum and a number of blockchains, resulting in the loss of 120,000 wrapped ether (or wETH, worth about $321 million) on the platform. This is the second largest decentralized finance (DeFi) attack to date, according to rekt’s leaderboard, in an industry where security exploits are fairly common and part of users’ risk curve. There’s a whole business made out of code reviews, a lexicon of industry-specific jargon…

Coinbase users can receive US tax refunds in crypto as part of TurboTax deal

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Tax filing platform TurboTax is allowing U.S. filers to get their refunds directly in crypto as part of an arrangement with crypto exchange Coinbase. In a Thursday blog post, Coinbase announced users who filed their tax returns using TurboTax would have the option to receive any returns in cryptocurrencies like Bitcoin (BTC) and others supported on the platform. The exchange said users could send the funds to their Coinbase accounts in fiat, or automatically convert it to crypto with no trading fees. A New York Times report said that the…

Boston Fed, MIT Publish Open-Source CBDC Software

“I would think we’re probably looking at 30 to 40 different either open-source or private solutions at a very high level first, and then doing a deeper dive into a few of them because we’re in the early stages of this, and we want to make sure we have the broadest view possible,” Cunha said in 2020. Source

US Lawmakers Reintroduce Bill to Provide Tax Relief for Small Crypto Transactions

Jerry Brito, executive director of the crypto think tank Coin Center, which has lobbied for the bill, said the legislation would “relieve users from having to keep track of small personal transactions.” “Not only will this create a level playing field for digital currencies, it will also help unleash innovation on applications like micropayments, which can consist of dozens of transactions per minute and thus are difficult to square with the current law,” he said. Source

Bitcoin Capped Below $40K Resistance; Support at $35K

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Bitcoin (BTC) buyers and sellers are at a stalemate, evidenced by low trading volume and muted price action over the past few days. The cryptocurrency is trading in a tight range between $35,000 support and $38,000-$40,000 resistance. Most technical indicators are neutral, which means BTC could remain in a narrow price range going into the Asia trading day. At press time the bitcoin price was $36,506, down 3% over the past 24 hours, based on CoinDesk pricing. Buyers have consistently lost ground to sellers given the persistent downtrend since November.…