Wednesday, June 30, 2021

Cryptocurrency Prices on June 30: Bitcoin surges 4%, crosses $35k; altcoins follow

Simultaneously, some altcoins bagged double-digit gains. Here are the prices of the ten largest cryptocurrencies, data sourced from CoinMarketCap ...

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Is ICP a Scam? Arkham Intelligence Looked Into It

A Summary of Arkham Intelligence’s Takedown of ICP

Link to the article

ICP dropped from it’s ATH of $730 to $30
It ascended to the 3rd most valuable crypto asset
DFinity is the company behind ICP

On-Chain Analysis

The addresses in question belong to 3 entities: Dfinity, exchanges, and suspected insiders
The “Treasury” is the address Arkham believes belongs to Dfinity, and it received 107 million ICP from the mint(about 25% of total supply)
There are two types of exchange addresses: central addresses and deposit addresses
- In a nutshell, central addresses are the pot of ICP that an exchange holds
- Deposit addresses hold crypto for a short time before transferring to central addresses
The suspected insiders are some addresses that either received ICP from the Treasury or deposited ICP to a deposit address also used by the Treasury.
Arkham tracked exchange flows and found that the Treasury deposited 3.1 million ICP to exchanges on May 10 and 4.7 million on June 15th
- The exchange deposits on May 10 are typical for providing liquidity on exchanges
- The deposits on June 15
There are 34 suspected insiders that also deposited a lot of ICP to exchanges
- They were sent 34.1 million ICP in total
- About 75% of these transfers occurred within 3 hours of trading open on Coinbase
- The deposits by insiders are made in different amounts, to different exchanges, leading to the assumption that there is no single underlying entity.
- Despite this, many insiders made a large transfer on listing day followed by intermittent deposits post-listing
- They followed this pattern:

Treasury sends 62.5k ICP to insider 2 hours before trading opens
Insider sends 62k ICP to Coinbase/Binance addresses over the course of 5 days after listing
Exchanges move this ICP to central addresses within 20 mins of deposit

Implications

The Treasury and insiders sent about 75% of the total ICP deposited on exchanges.
We can only assume these tokens were sold, as there is no “direct and clear” evidence that they were.
The assumption is safe because:

The price plummeted as these deposits were made
The only thing to do with ICP on an exchange is to sell it

A possible counter argument is that they wanted to use Coinbase for token custody
- This is unlikely because the token holders (Dfinity and insiders) would most likely have the capability to securely store tokens and they would have been incentivized to store them in a way that maintained their custody of them(at the time of the dump, their tokens were worth hundreds of millions).
- Secondly, ICP protocol distributes ICP rewards to holders who lock their tokens in the network. If there is no intent to sell, holders are incentivized to earn rewards rather than store them on exchanges
- Thirdly, and most simply, the historic price drop indicates mass selling.

Off-Chain Analysis

There was a lack of transparency regarding token allocation and unlocking as there is very little public information in the way of token unlock schedules
Contrast this to UniSwap, who released breakdowns for allocation by category of holder, and a breakdown of the unlocking of the treasury
Dfinity’s founder sent a twitter reply claiming:
- “Foundation didn't vest itself but plans on putting most of its ICP into neurons. It is doing this carefully to make sure foundation+team members don't control the network (you wouldn't believe it based upon what you hear, but in actual fact, we care a lot about decentralization!)”
Having no vesting essentially means that token holders are less incentivized to hold their tokens should something happen with the project(like a rug pull, team dump, or VC dump)

Seed Supporter’s Struggles

At time of launch, seed supporters were entitled to about 25% of the total ICP
These initial investors seem to not have been aware of how to access their tokens or how the tokens would unlock until listing day
Dfinity published an article on Medium on how to access seed tokens
- This article explains that seed investors would be subject to a 4-year unlocking schedule:
  - “Seed donors will receive all of their ICP tokens at Genesis Unlock, but these will be staked inside 49voting neurons within the NNS. Each neuron that is delivered will have a different “dissolve delay”configured by the NNS. This configures the minimum period required to unlock the ICP tokens staked inside. One of their neurons will have a dissolve delay of 0 days, allowing the staked ICP tokens to be unlocked immediately, if desired (subject to applicableAML/KYC verification). Another will have a dissolve delay of approximately 30 days, another of 60 days, another of 90 days, and so on.(Note:Configured dissolve delays may have some small random number of days added or subtracted by the NNS).”
The provided set of steps to retrieve seed tokens is complicated and technical, with users reporting bugs.
- The steps could not be performed on Windows or new Macs with M1 chips
Dfinity support was unsurprisingly lacking
- Users on the support forum report being redirected back to the forum after submitting tickets for their issues
- Some users report buying new computers to access their tokens.
If Dfinity intended to dump, it would make sense to effectively disallow seed investors to access and sell their tokens
Many seed investors were forced to watch as they watched what would have been a life-changing investment slip through their fingers

Implications

Any one of these pieces of evidence may easily be swept under the rug as a new project fumbling through release.
As the pieces come together, it seems clear that there was intent behind all of these events.
This rug pull event stresses the need for better analytics on cryptocurrencies
- ICP buyers should have known about suspicious token flows and off-chain activity.

Submitted June 29, 2021 at 07:52PM by dmiddy https://ift.tt/3qywlzZ https://ift.tt/2Z7cX2s

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WTF, we need younger and smarter politicians: "Government must have power to reverse crypto transactions", says co-chair of blockchain caucus.

https://ift.tt/3dp1Gzt

Submitted June 29, 2021 at 09:27PM by simplelifestyle https://ift.tt/3h5Uc6V https://ift.tt/2Z7cX2s

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How to Ensure AML Compliance on Bitcoin ATMs in the US? | Sanction Scanner

Bitcoin ATM operators in the United States have to register with the FinCEN and comply with the Bank Secrecy Act (BSA) Anti-Money Laundering laws.

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Take Control of Cryptocurrency

Cryptocurrency. Glenn Fleishman. In Take Control of Cryptocurrency, Glenn Fleishman casts aside the headlines and hype around cryptocurrency to dig ...

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Cryptocurrency as the currency of the future: a case study among Algebra University College ...

The cryptocurrencies were designed to be a medium of exchange. The blockchain technology on which cryptocurrencies are based on offers many ...

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Daily Discussion, June 30, 2021

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted June 30, 2021 at 12:01AM by rBitcoinMod https://ift.tt/3yd8tVf https://ift.tt/2Z7cX2s

Coinbase Launches High Yield USDC Accounts With 4% APY

Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts.

Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average

The cryptocurrency exchange Coinbase announced pre-enrollment for its usd coin (USDC) savings program that allows clients to earn a 4% APY interest rate on USDC held on the platform.

Coinbase joins firms like Blockfi and Crypto.com that already offer interest on USDC stablecoin holdings. Still, Coinbase highlights in its announcement on Tuesday, that 4% APY on USDC is “more than 8x the national average of high-yield savings accounts.”

“Everyone wants to get the best interest rate available for the assets they hold,” Coinbase explained in a statement. “But interest rates have decreased steadily over the past few decades, making it difficult to earn meaningful passive income on your assets,” the company said. Coinbase added:

The national average for a traditional savings account hovers around 0.07%, with high-yield savings accounts still falling well short of even 1%.

Coinbase’s entry into the stablecoin savings products also follows Circle’s USDC business product, which was launched in November 2020. At the time, Circle revealed the launch of high-yield USDC business accounts with APY up to 10.75%. Additionally, Circle just announced five days ago, it would be launching a new API so companies can connect to high-yield decentralized finance (defi) platforms.

Coinbase and Circle are the founding members of the Centre consortium and with a number of other consortium members, Centre is the issuer and custodian of the usd coin (USDC) project.

In order to get more information on Coinbase’s USDC pre-enrollment, U.S. customers can sign up at the web portal coinbase.com/lend. After an individual gains approval, they will “automatically start to earn 4% APY on the USDC” they hold in their Coinbase account. The company does detail that “APY may change at any time before you start lending.”

What do you think about Coinbase offering 4% APY on USDC holdings? Let us know what you think about this subject in the comments section below.

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Dvision Network Open Beta Test (OBT) Goes Live Ahead of Dvision World Launch

PRESS RELEASE. One of the leading blockchain-based NFT & Metaverse platforms, Dvision Network, has revealed that its long-awaited “Open Beta Test” (OBT) is going live on June 30th 2021. According to Dvision Network, the Open Beta Test launch will be divided into several phases, with the following stages to be announced after the successful completion of the 1st phase. The countdown has already started on their official website: https://dvision.network/.

Open Beta Test to incorporate new NFT features

The Open Beta Test is the test phase that will precede the launch of Dvision World, an ultimate metaverse that will be a major platform of the Dvision Network’s Ecosystem. Dvision Network has integrated new features into the OBT, including My Space, Character Customization, and a community Leaderboard system.

During the OBT, users will be able to fully customize their characters with options like selecting preferred nicknames and desired costumes for their characters, and will further be able to utilize their avatars to enjoy the virtual reality experience within the Dvision World. The avatars are able to implement several cool functions, such as animation, teleportation and socialization, which should boost their performance and enhance the time-spending inside of the metaverse.

The My Space feature provides a tailored virtual space where users can obtain their personal piece of a virtual estate within the Dvision World. Users can also purchase different items to build their virtual space according to their needs and preference.

Dvision World is expected to provide an innovative metaverse experience that will transform the NFT sector. Users will be able to engage in different economic activities by utilizing NFT standards to protect their digital assets like Avatars, Virtual Spaces, and Items within the Dvision Network’s robust NFT Market.

Fast-growing Ecosystem

Although Dvision Network’s OBT is only paving its way towards future development, it is regarded as one of the fastest-growing blockchain-based metaverses in the sector, which has achieved a range of milestones in recent months. As a matter of fact, Dvision Network is currently ranked fifth in the Metaverse Sector right behind Axie Infinity, Sandbox, and Decentraland according to CoinMarketCap. Dvision Network is also regarded to be one of the largest BSC and NFT projects in the space with its current market capitalization, which constitutes around 60 million USD with its floating supply of 21%, whereas FDMC is valued around 260 million USD.

It should also be noted, that Dvision Network team is continuously making significant developments in the marketing and business aspects, holding different cross-promotion activities and campaigns focused on expanding its community. Dvision recently conducted a huge airdrop with leading cryptocurrency price aggregator CoinMarketCap where 150,000 DVI tokens ($65,000) were distributed among 2,000 lucky winners, and before that they did the similar in collaboration with DappRadar. Currently, the Dvision community comprises over 200,000 members across all social media channels.

Previously, Dvision Network has revealed, that they have built the bridge to Binance Smart Chain in collaboration with Curvegrid, and since then, they have continued to make noticeable waves in the Binance Smart Chain (BSC) ecosystem, with their participation in the MVB program, followed by their recent AMA on the BSC official channel. Dvision’s upcoming NFT Market is expected to significantly boost their performance level on the Binance Smart Chain, which shall further elevate their position in their ecosystem.

Dvision has also embarked on high-profile partnerships with other blockchain protocols to improve its infrastructure. The NFT metaverse revealed a strategic collaboration with BSC turnkey solution platform Ankr in June. In the nutshell, Dvision Network is utilizing Ankr distributed nodes to power its cross-chain bridge and NFT Marketplace.

Dvision Network native token DVI has also continued to show a decent performance, with its recent rebound of 65% after it took a dive followed by a market downturn led by BTC fall. DVI recently got listed on Indodax and Bittrex, opening up the access to token to more users globally. Indodax is the largest regulated exchange in Indonesia with more than 4 million users, while Bittrex is considered to be one of the reputable and largest platforms in Europe.

About Dvision Network

Dvision Network provides web-based real-time streaming 3D VR metaverse service so that users can easily experience metaverse content such as fairs and games. On the Division platform, anyone can easily create NFT items without any development-related expertise. Division’s NFT trading system enables monetization by directly connecting creators and consumers without intermediaries. This serves to connect the virtual world to reality.

All these products are powered by the Dvision Network utility token DVI, listed on several exchanges, including Uniswap, Bithumb, Coinone, Bittrex, Indodax, and Hoo.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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The Binance stand-off shows bitcoin's limits

What's the point of making a killing in bitcoin if you can't spend the loot? Customers of Binance, one of the world's largest cryptocurrency exchanges, ...

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Why Cathie Wood's Ark Invest is launching a bitcoin ETF: CNBC After Hours

The ETF's investment objective is to track the performance of bitcoin, according to the SEC filing. The fund would trade under the ticker symbol “ARKB,” if ...

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Federal Reserve Discussing Bitcoin and Crypto with Market Advisors Including PTJ, Ray Dalio ...

Some still viewed bitcoin as having stood the test of time, having weathered several financial crises, while others also saw longer-term risks from ...

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Made gains from cryptocurrencies? Know the income tax implications

Profits from the sale of a cryptocurrency can be taxed as business income if traded frequently, or as capital gains if held for investment purposes. Those ...

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Cryptocurrency Prices on June 30: Bitcoin surges 4%, crosses $35k; altcoins follow

Is ICP a Scam? Arkham Intelligence Looked Into It

A Summary of Arkham Intelligence’s Takedown of ICP

Link to the article

ICP dropped from it’s ATH of $730 to $30
It ascended to the 3rd most valuable crypto asset
DFinity is the company behind ICP

On-Chain Analysis

The addresses in question belong to 3 entities: Dfinity, exchanges, and suspected insiders
The “Treasury” is the address Arkham believes belongs to Dfinity, and it received 107 million ICP from the mint(about 25% of total supply)
There are two types of exchange addresses: central addresses and deposit addresses
- In a nutshell, central addresses are the pot of ICP that an exchange holds
- Deposit addresses hold crypto for a short time before transferring to central addresses
The suspected insiders are some addresses that either received ICP from the Treasury or deposited ICP to a deposit address also used by the Treasury.
Arkham tracked exchange flows and found that the Treasury deposited 3.1 million ICP to exchanges on May 10 and 4.7 million on June 15th
- The exchange deposits on May 10 are typical for providing liquidity on exchanges
- The deposits on June 15
There are 34 suspected insiders that also deposited a lot of ICP to exchanges
- They were sent 34.1 million ICP in total
- About 75% of these transfers occurred within 3 hours of trading open on Coinbase
- The deposits by insiders are made in different amounts, to different exchanges, leading to the assumption that there is no single underlying entity.
- Despite this, many insiders made a large transfer on listing day followed by intermittent deposits post-listing
- They followed this pattern:

Treasury sends 62.5k ICP to insider 2 hours before trading opens
Insider sends 62k ICP to Coinbase/Binance addresses over the course of 5 days after listing
Exchanges move this ICP to central addresses within 20 mins of deposit

Implications

The Treasury and insiders sent about 75% of the total ICP deposited on exchanges.
We can only assume these tokens were sold, as there is no “direct and clear” evidence that they were.
The assumption is safe because:

The price plummeted as these deposits were made
The only thing to do with ICP on an exchange is to sell it

A possible counter argument is that they wanted to use Coinbase for token custody
- This is unlikely because the token holders (Dfinity and insiders) would most likely have the capability to securely store tokens and they would have been incentivized to store them in a way that maintained their custody of them(at the time of the dump, their tokens were worth hundreds of millions).
- Secondly, ICP protocol distributes ICP rewards to holders who lock their tokens in the network. If there is no intent to sell, holders are incentivized to earn rewards rather than store them on exchanges
- Thirdly, and most simply, the historic price drop indicates mass selling.

Off-Chain Analysis

There was a lack of transparency regarding token allocation and unlocking as there is very little public information in the way of token unlock schedules
Contrast this to UniSwap, who released breakdowns for allocation by category of holder, and a breakdown of the unlocking of the treasury
Dfinity’s founder sent a twitter reply claiming:
- “Foundation didn't vest itself but plans on putting most of its ICP into neurons. It is doing this carefully to make sure foundation+team members don't control the network (you wouldn't believe it based upon what you hear, but in actual fact, we care a lot about decentralization!)”
Having no vesting essentially means that token holders are less incentivized to hold their tokens should something happen with the project(like a rug pull, team dump, or VC dump)

Seed Supporter’s Struggles

At time of launch, seed supporters were entitled to about 25% of the total ICP
These initial investors seem to not have been aware of how to access their tokens or how the tokens would unlock until listing day
Dfinity published an article on Medium on how to access seed tokens
- This article explains that seed investors would be subject to a 4-year unlocking schedule:
  - “Seed donors will receive all of their ICP tokens at Genesis Unlock, but these will be staked inside 49voting neurons within the NNS. Each neuron that is delivered will have a different “dissolve delay”configured by the NNS. This configures the minimum period required to unlock the ICP tokens staked inside. One of their neurons will have a dissolve delay of 0 days, allowing the staked ICP tokens to be unlocked immediately, if desired (subject to applicableAML/KYC verification). Another will have a dissolve delay of approximately 30 days, another of 60 days, another of 90 days, and so on.(Note:Configured dissolve delays may have some small random number of days added or subtracted by the NNS).”
The provided set of steps to retrieve seed tokens is complicated and technical, with users reporting bugs.
- The steps could not be performed on Windows or new Macs with M1 chips
Dfinity support was unsurprisingly lacking
- Users on the support forum report being redirected back to the forum after submitting tickets for their issues
- Some users report buying new computers to access their tokens.
If Dfinity intended to dump, it would make sense to effectively disallow seed investors to access and sell their tokens
Many seed investors were forced to watch as they watched what would have been a life-changing investment slip through their fingers

Implications

Any one of these pieces of evidence may easily be swept under the rug as a new project fumbling through release.
As the pieces come together, it seems clear that there was intent behind all of these events.
This rug pull event stresses the need for better analytics on cryptocurrencies
- ICP buyers should have known about suspicious token flows and off-chain activity.

Submitted June 29, 2021 at 07:52PM by dmiddy https://ift.tt/3qywlzZ https://ift.tt/2Z7cX2s

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WTF, we need younger and smarter politicians: "Government must have power to reverse crypto transactions", says co-chair of blockchain caucus.

The Binance stand-off shows bitcoin's limits

Why Cathie Wood's Ark Invest is launching a bitcoin ETF: CNBC After Hours

Federal Reserve Discussing Bitcoin and Crypto with Market Advisors Including PTJ, Ray Dalio ...

Made gains from cryptocurrencies? Know the income tax implications

Cryptocurrency Prices on June 30: Bitcoin surges 4%, crosses $35k; altcoins follow

Is ICP a Scam? Arkham Intelligence Looked Into It

A Summary of Arkham Intelligence’s Takedown of ICP

Link to the article

ICP dropped from it’s ATH of $730 to $30
It ascended to the 3rd most valuable crypto asset
DFinity is the company behind ICP

On-Chain Analysis

The addresses in question belong to 3 entities: Dfinity, exchanges, and suspected insiders
The “Treasury” is the address Arkham believes belongs to Dfinity, and it received 107 million ICP from the mint(about 25% of total supply)
There are two types of exchange addresses: central addresses and deposit addresses
- In a nutshell, central addresses are the pot of ICP that an exchange holds
- Deposit addresses hold crypto for a short time before transferring to central addresses
The suspected insiders are some addresses that either received ICP from the Treasury or deposited ICP to a deposit address also used by the Treasury.
Arkham tracked exchange flows and found that the Treasury deposited 3.1 million ICP to exchanges on May 10 and 4.7 million on June 15th
- The exchange deposits on May 10 are typical for providing liquidity on exchanges
- The deposits on June 15
There are 34 suspected insiders that also deposited a lot of ICP to exchanges
- They were sent 34.1 million ICP in total
- About 75% of these transfers occurred within 3 hours of trading open on Coinbase
- The deposits by insiders are made in different amounts, to different exchanges, leading to the assumption that there is no single underlying entity.
- Despite this, many insiders made a large transfer on listing day followed by intermittent deposits post-listing
- They followed this pattern:

Treasury sends 62.5k ICP to insider 2 hours before trading opens
Insider sends 62k ICP to Coinbase/Binance addresses over the course of 5 days after listing
Exchanges move this ICP to central addresses within 20 mins of deposit

Implications

The Treasury and insiders sent about 75% of the total ICP deposited on exchanges.
We can only assume these tokens were sold, as there is no “direct and clear” evidence that they were.
The assumption is safe because:

The price plummeted as these deposits were made
The only thing to do with ICP on an exchange is to sell it

A possible counter argument is that they wanted to use Coinbase for token custody
- This is unlikely because the token holders (Dfinity and insiders) would most likely have the capability to securely store tokens and they would have been incentivized to store them in a way that maintained their custody of them(at the time of the dump, their tokens were worth hundreds of millions).
- Secondly, ICP protocol distributes ICP rewards to holders who lock their tokens in the network. If there is no intent to sell, holders are incentivized to earn rewards rather than store them on exchanges
- Thirdly, and most simply, the historic price drop indicates mass selling.

Off-Chain Analysis

There was a lack of transparency regarding token allocation and unlocking as there is very little public information in the way of token unlock schedules
Contrast this to UniSwap, who released breakdowns for allocation by category of holder, and a breakdown of the unlocking of the treasury
Dfinity’s founder sent a twitter reply claiming:
- “Foundation didn't vest itself but plans on putting most of its ICP into neurons. It is doing this carefully to make sure foundation+team members don't control the network (you wouldn't believe it based upon what you hear, but in actual fact, we care a lot about decentralization!)”
Having no vesting essentially means that token holders are less incentivized to hold their tokens should something happen with the project(like a rug pull, team dump, or VC dump)

Seed Supporter’s Struggles

At time of launch, seed supporters were entitled to about 25% of the total ICP
These initial investors seem to not have been aware of how to access their tokens or how the tokens would unlock until listing day
Dfinity published an article on Medium on how to access seed tokens
- This article explains that seed investors would be subject to a 4-year unlocking schedule:
  - “Seed donors will receive all of their ICP tokens at Genesis Unlock, but these will be staked inside 49voting neurons within the NNS. Each neuron that is delivered will have a different “dissolve delay”configured by the NNS. This configures the minimum period required to unlock the ICP tokens staked inside. One of their neurons will have a dissolve delay of 0 days, allowing the staked ICP tokens to be unlocked immediately, if desired (subject to applicableAML/KYC verification). Another will have a dissolve delay of approximately 30 days, another of 60 days, another of 90 days, and so on.(Note:Configured dissolve delays may have some small random number of days added or subtracted by the NNS).”
The provided set of steps to retrieve seed tokens is complicated and technical, with users reporting bugs.
- The steps could not be performed on Windows or new Macs with M1 chips
Dfinity support was unsurprisingly lacking
- Users on the support forum report being redirected back to the forum after submitting tickets for their issues
- Some users report buying new computers to access their tokens.
If Dfinity intended to dump, it would make sense to effectively disallow seed investors to access and sell their tokens
Many seed investors were forced to watch as they watched what would have been a life-changing investment slip through their fingers

Implications

Any one of these pieces of evidence may easily be swept under the rug as a new project fumbling through release.
As the pieces come together, it seems clear that there was intent behind all of these events.
This rug pull event stresses the need for better analytics on cryptocurrencies
- ICP buyers should have known about suspicious token flows and off-chain activity.

Submitted June 29, 2021 at 07:52PM by dmiddy https://ift.tt/3qywlzZ https://ift.tt/2Z7cX2s

WTF, we need younger and smarter politicians: "Government must have power to reverse crypto transactions", says co-chair of blockchain caucus.

https://ift.tt/3dp1Gzt

Submitted June 29, 2021 at 09:27PM by simplelifestyle https://ift.tt/3h5Uc6V https://ift.tt/2Z7cX2s

Tuesday, June 29, 2021

Bears back off, but Bitcoin price still wavers below $35K

Bitcoin price briefly surged above $35,000 to spark a relief rally in altcoins but a number of bearish factors still surround BTC. 3622 Total views.

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Dash Partners with African Exchange Naijacrypto to Bring Cryptocurrency to Haiti

Major African exchange Naijacrypto and Dash Core Group have joined forces to launch the first cryptocurrency exchange to service the Haiti market.

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Dramatic crash of a buzzy cryptocurrency raises eyebrows

Morel, who co-founded Reserve, a cryptocurrency created for hyperinflationary economies, said that based on his experience with initial coin offerings, ...

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Report: South Africa Bars Transfer of Locally Acquired Cryptocurrencies to Overseas Exchanges ...

Fresh reports from South Africa suggest that the transfer of locally acquired cryptocurrencies to overseas crypto exchanges will now be subject to the.

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bitcoin price: Top cryptocurrency prices today: Ethereum, Uniswap, Polkadot gain up to 9% - The ...

New Delhi: Major cryptocurrencies were trading with decent gains on Tuesday. Crypto traders shrugged worries of curbs and restrictions on digital ...

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Report: South Africa Bars Transfer of Locally Acquired Cryptocurrencies to Overseas Exchanges ...

The attempt to stop local exchanges from transferring cryptocurrencies to ... African regulators are attempting to censor cryptocurrency transactions.

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Top cryptocurrency prices today: Ethereum, Uniswap, Polkadot gain up to 9%

Bitcoin, ether prices gain while dogecoin dips. Check latest crypto rates

In cryptocurrencies, Bitcoin was trading with marginal gains today while ... Ether, the second largest cryptocurrency surged over 7% to trade above ...

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Could curtailing cryptocurrency calm cyber crimewave?

Cryptocurrency is famously anonymous, but evading capture is not the only reason cryptocurrency is the go-to payment solution for ransomware.

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Craig Wright has got a court order to get Bitcoin.org to remove the Bitcoin Whitepaper. Well, here is a website craigwrightisnotsatoshi.com that now hosts the Bitcoin Whitepaper.

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Submitted June 28, 2021 at 06:27PM by Set1Less https://ift.tt/36d9voh https://ift.tt/2Z7cX2s

Daily Discussion, June 29, 2021

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted June 29, 2021 at 12:03AM by rBitcoinMod https://ift.tt/3jjH6EG https://ift.tt/2Z7cX2s

Cajee Brothers Deny $3.6 Billion Bitcoin Fraud

Raees Cajee, Africrypt's founder and CEO, first learned of bitcoin in 2009 while watching the news with his father and has been hooked ever since, ...

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One of the largest owners of bitcoin, who reportedly held as much as $1 billion, is dead at 41: reports

Billionaire Bitcoin owner Mircea Popescu has reportedly died leaving a cache of handy currency and controversial crypto legacy. Bitcoin BTCUSD, + ...

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CoinShares's Demirors on Binance and Cryptocurrency Regulation

CoinShares's Demirors on Binance and Cryptocurrency Regulation. Bloomberg Markets · TV Shows. June 28th, 2021, 6:15 PM PDT.

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The Ultimate Guide on Crypto Taxes

Cryptocurrencies are not considered currencies or means of transacting by the IRS. How crypto mining is taxed? Cryptocurrency mining is considered ...

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Mexico's Treasury Secretary confirms cryptocurrencies are not legal tender assets nor treated as ...

Post reshared from: https://ift.tt/1fDn4sT Andrés Engler / CoinDesk:Mexico's Treasury Secretary confirms cryptocurrencies are not legal tender ...

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Bitcoin price crash warning: State crackdown could make cryptocurrency 'fall to zero'

BITCOIN remains "very vulnerable" to state suppression, according to a leading cryptocurrency expert. · Donald Trump claims Bitcoin 'seems like a scam'.

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Cajee Brothers Deny $3.6 Billion Bitcoin Fraud

One of the largest owners of bitcoin, who reportedly held as much as $1 billion, is dead at 41: reports

CoinShares's Demirors on Binance and Cryptocurrency Regulation

CoinShares's Demirors on Binance and Cryptocurrency Regulation. Bloomberg Markets · TV Shows. June 28th, 2021, 6:15 PM PDT.

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The Ultimate Guide on Crypto Taxes

Mexico's Treasury Secretary confirms cryptocurrencies are not legal tender assets nor treated as ...

Bitcoin price crash warning: State crackdown could make cryptocurrency 'fall to zero'

Monday, June 28, 2021

Watch "Wyckoff Accumulation For BITCOIN Enters Final Phase!" on YouTube

Support the channel. Excellent and Super honest content. Be sure to subscribe this may not be available if you're not looking for it.

https://youtu.be/w4Z9CeXzEhE

Front End Developer - (Development, Cryptocurrencies/Blockchain) | eFinancialCareers

Datasearch Consulting, Singapore, Singapore, Singapore job: Apply for Front End Developer - (Development, Cryptocurrencies/Blockchain) in ...

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CRYPTOCURRENCY - TipRanks Investment News

CRYPTOCURRENCY. Topic. Is Now the Time to Bet on SOS Stock? Oh boy, crypto miners.

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Top 5 cryptocurrencies to watch this week: BTC, ADA, SOL, MATIC, KLAY #cryptocurrency #bitcoin ...

Top 5 cryptocurrencies to watch this week: BTC, ADA, SOL, MATIC, KLAY #cryptocurrency #bitcoin #crypto #blockchain - Kultejas News.

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Oracle Vinny Lingham Still Envisions $100K This Year if Bitcoin 'Continues to Hold $30K'

On various occasions all the way back to 2016, Lingham has made correct bitcoin price calls over the years. Even though bitcoin's price has been ...

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16-year-old creates Bitcoin forecasting website

BitcoinTemp allows users to check the current price of Bitcoin as well as its price forecasts in real time. The prices are portrayed like a weather forecast ...

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If Bitcoiners like volcanoes wait till they see how this baby hashes #Bitcoin #Paraguay @carlitosrejala

https://twitter.com/carlitosrejala/status/1408886248127746049

Submitted June 27, 2021 at 08:49PM by simplelifestyle https://ift.tt/3x2Fovh https://ift.tt/2Z7cX2s

Daily Discussion, June 28, 2021

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted June 28, 2021 at 12:04AM by rBitcoinMod https://ift.tt/3qxa8C5 https://ift.tt/2Z7cX2s

Cryptowisser : Crypto Taxes Will Continue to See a Regulations Increase as Adoption Rises

PRESS RELEASE. June 2021, leading Crypto service comparison site – Cryptowisser, attempts to dissipate the cloud of confusion surrounding tax regulations on crypto currencies around the world. As the tax season comes to a close and a record amount of crypto traders are holding, how do you legally save your crypto?

It is no surprise that as the recent surges and as alt coins continue flooding the market, more and more people are seeing it as a potential way of making money. And the once fabled mysterious currency, is well, becoming more regulated. Like anything else, regulatory boards are catching on and impicating tax laws.

As the Cryptowisser tax essentials report states, the majority of crypto tax either comes from Income Tax or Capital Gains tax.

Tax free crypto conditions still exist –

The report clarifies Geo advantageous spots for crypto traders- Malaysia for example, does not tax crypto trading unless it is a registered business. Other crypto transactions such as donations and “gift sums” are tax free depending on the amount and location.

The report also clarifies that the simplest way to avoid crypto tax is to keep transactions Fiat free. For the most part actually buying crypto has no tax, you can buy as much as you want, only to pay the fees on whatever crypto exchange you decide to use. Wallet to wallet crypto transfers also avoid tax.

Capital Gains Tax on Crypto –

Any investment gain made from crypto currency will be looked at the same as any other investment- and tax will be paid unless in a capital gain tax free country such as New Zealand, Sri Lanka, Singapore etc. In most countries however, that is not that case. Cryptowisser reported on the countries with the highest crypto capital gains tax here. The report also explains taxed crypto transactions such as selling crypto holdings, exchanges and online shopping.

Crypto Income Tax

With the increase of remote based companies, with employees often in other countries, crypto has become a popular payment option. However, any earnings you do make from your employment, crypto or not, has to be declared and paid. Even if you are making gains with mining crypto, tax will be paid.

Concluding Remarks

The future of crypto tax is bittersweet, the more accepted and adopted it is, the more regulation there will inevitably be. Countries with more favourable crypto conditions will attract investors and likely stabilize crypto currency as legal tender leading to a more crypto positive future.

Cryptowisser is a cryptocurrency services comparison site with the world’s largest, most frequently updated and most trusted lists of cryptocurrency exchanges, wallets, debit cards and merchants. With more than 1,000 reviews of the various exchanges, debit cards, wallets and merchants, they help you make all of your purchasing decisions and service choices in the crypto world.

For more information please contact press@cryptowisser.com

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Bitcoin Node is Live!

https://ift.tt/2UyB0pt

Submitted June 27, 2021 at 07:52PM by bringerofrayn https://ift.tt/35Vhvd9 https://ift.tt/2Z7cX2s

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Bitcoin flips Tesla by market cap... Sorry Elon!

https://ift.tt/3n1ye4D

Submitted June 27, 2021 at 08:21PM by FeCromartie https://ift.tt/2TeU0ZZ https://ift.tt/2Z7cX2s

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Top cryptocurrency prices today: Bitcoin, Ethereum, Cardano gain up to 5%

Mexican billionaire Ricardo Salinas Pliego said his banking business may begin using Bitcoin, becoming the country's first bank to start accepting the ...

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bitcoin india: Bitcoin becoming the new gold as Indians pour billions into crypto - The Economic ...

The cryptocurrency aficionados' mantra that Bitcoin is equivalent to digital gold is winning converts among the world's biggest holders of the precious ...

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Capture the Contagion Network of Bitcoin – Evidence from Pre and Mid COVID-19 - ScienceDirect

We compare the contagion phenomenon of Bitcoin and other financial markets or assets pre and during the COVID-19 shock in both contemporaneous ...

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Binance UK Operations Banned in Britain's Latest Cryptocurrency Crackdown

Britain's financial regulator has said Binance, one of the world's largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a ...

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Top cryptocurrency prices today: Bitcoin, Ethereum, Cardano gain up to 5%

NEW DELHI: Major cryptocurrencies were trading with mild gains on Monday. Crypto traders turned cautious over valuations of digital tokens, ...

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How should cryptocurrency be taxed in India? Here are some thoughts

Even though cryptocurrencies are not mentioned in the Indian income tax act and there are no rules defined yet, you must report them in your income tax ...

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What cryptocurrency investors get wrong about economics

What cryptocurrency investors get wrong about economics ...

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Even gold-obsessed Indians are now pouring billions into cryptocurrencies like Bitcoin, Dogecoin ...

The cryptocurrency aficionados' mantra that Bitcoin is equivalent to digital gold is winning converts among the world's biggest holders of the precious ...

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Front End Developer - (Development, Cryptocurrencies/Blockchain) | eFinancialCareers

CRYPTOCURRENCY - TipRanks Investment News

CRYPTOCURRENCY. Topic. Is Now the Time to Bet on SOS Stock? Oh boy, crypto miners.

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Top 5 cryptocurrencies to watch this week: BTC, ADA, SOL, MATIC, KLAY #cryptocurrency #bitcoin ...

Top 5 cryptocurrencies to watch this week: BTC, ADA, SOL, MATIC, KLAY #cryptocurrency #bitcoin #crypto #blockchain - Kultejas News.

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Bitcoin Node is Live!

https://ift.tt/2UyB0pt

Submitted June 27, 2021 at 07:52PM by bringerofrayn https://ift.tt/35Vhvd9 https://ift.tt/2Z7cX2s

Bitcoin flips Tesla by market cap... Sorry Elon!

https://ift.tt/3n1ye4D

Submitted June 27, 2021 at 08:21PM by FeCromartie https://ift.tt/2TeU0ZZ https://ift.tt/2Z7cX2s

Sunday, June 27, 2021

Bitcoin Art I made with my girlfriend!

https://ift.tt/2T9Q6l2

Submitted June 27, 2021 at 01:31AM by PooPoolorg https://ift.tt/3dhRSrb https://ift.tt/2Z7cX2s

Can Bitcoin and Ethereum survive this scare?

For Bitcoin, the asset hovered just above $30,000 at press time as fear loomed large in the industry over a new low. While the markets were slowly ...

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Myth debunked: Cryptocurrency has no real value

Myth debunked: Cryptocurrency has no real value ... moment, the illusion of 'normal' (i.e. fiat) currency is more widespread than that of cryptocurrency.

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Most people wished to buy BTC for 30K when it was 64k. But now that we can we are too sacred.

Remember when the bull was strong and unstoppable, most people around me wanted to buy BTC. Most of them said and hoped that if BTC was still 30K I would have bought a shit ton of it.

Those mates of mine now still do not buy and are hoping for it to dip to 10k or less. I told them that it is very unlikely. Not impossible but very unlikely. They still held strong and didn't want to buy till it dips more and I believe they won't if it does.

There is a saying and it goes something like this:

"If you cannot love (buy) me (crypto) on a discount, they don't deserve me when I bull"

Submitted June 26, 2021 at 09:47PM by Accomplished-Design7 https://ift.tt/3hdwdBF https://ift.tt/2Z7cX2s

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Daily Discussion, June 27, 2021

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted June 27, 2021 at 12:07AM by rBitcoinMod https://ift.tt/35St4C7 https://ift.tt/2Z7cX2s

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Bitcoin’s Hashrate Recoups Some Loss, 2021’s Largest Mining Difficulty Drop Expected Next Week

On Saturday, Bitcoin’s SHA256 hashrate managed to climb back above the 100 exahash per second region after it slid to a low of 91 EH/s three days ago. Meanwhile, in five days the network’s mining difficulty change is approaching and it could see the difficulty drop over 20%.

Bitcoin Hashrate Climbs Back Above 100 EH/s, Difficulty Could Drop More Than 20% Next Week

Statistics show that bitcoin (BTC) miners are processing blocks a lot faster, as the hashrate has improved during the last 48 hours. On June 26, 2021, the network’s hashrate jumped back above the 100 EH/s zone.
The hashrate fell to 91 EH/s on June 23, 2021, following the crackdowns in China stemming from five Chinese provinces with the most recent being Sichuan. Between then and over the last three days, the hashrate has increased 9-13%.

The next mining difficulty drop is expected to happen in five days and at current processing power, it could drop around 20.57%. At the time of writing, the network’s mining difficulty is 19.93 trillion and the change could bring it to 15.83 trillion next week.
Bitcoin’s mining difficulty is essentially the measurement of how difficult it is to find a hash below a given target. When Bitcoin’s hashrate is high, the difficulty will increase, and when the hashrate drops like it did after China’s crackdown, the mining difficulty will drop lower. Therefore making it easier and harder to mine BTC with every fluctuation. Bitcoin’s network difficulty changes every 2,016 blocks or roughly every two weeks.

A lower difficulty will make it easier for bitcoin miners to find blocks and it can be more profitable for miners this month, as bitcoin’s (BTC) price has dropped much lower than it was two weeks ago. The last difficulty change saw the Taproot lock-in take place and the protocol upgrade should activate in November 2021.
There’s approximately 16 known bitcoin mining pools with dedicated SHA256 hashrate directed at the Bitcoin chain. One portion of hashrate is considered “unknown” or mystery hashrate, which currently captures 7.57 EH/s or 7.49% of the global hashrate distribution on Saturday evening (ET).

The top five bitcoin (BTC) mining pools on June 26, 2021, include Antpool, F2pool, Viabtc, Binance Pool, and Poolin. Those five mining pools capture 62.83% of the Bitcoin hashrate, while the rest is processed by 11 known pools and a 7.49% portion of mystery hashrate.
The next difficulty change seems to be pointing toward the largest mining difficulty drop in 2021 thus far. The network did see the largest difficult rise in 2021, with an approximate 21.53% increase, at block height 683,424 on May 13.

What do you think about the hashrate climbing back after the crackdowns in China? Let us know what you think about this subject in the comments section below.

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Bitcoin Rewards App, Lolli, featured on CNBC! | Facebook

Lolli featured on CNBC today! "My wife uses Lolli...Lolli has turned this casual shopper into a passive investor" This is what #bitcoin adoption...

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AAVE And Amp: Top Tier Cryptocurrencies - Global Rubber Markets

AAVE is 28th leading cryptocurrency. Amp is number 29, with a slightly lower market cap than AAVE The warning is the same – Only invest what you ...

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“Cryptocurrencies are not a currency, they're a speculative investment”

(AF) While the cryptocurrency boom has attracted fans globally, energy-intensive mining has come as an unwelcome addition to the already ...

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Cryptocurrencies Weekly Summary – Top Five Crypto Coins to Watch

Despite the gloomy headlines over the ban on cryptocurrency mining, the BTC/USD coin managed to stop the previous day's downward rally, ...

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Stop hoping and waiting for BTC to dip more.

It becomes a self fulfilling prophecy. The more people on here saying I’ll buy when it hits $15k, $20k, $25k, etc. are shooting themselves in the foot. We want people to buy. We want new people interested in BTC and crypto and if they all believe this is going to dip, they won’t enter the market and…. The correction/dip will continue. We need buying pressure, not selling. Wouldn’t you rather have everyone going in now, in the low-to-mid $30,000s and just keep buying as it continues to stay sideways or go up? When we start hitting all-time highs, are you really going to care that you bought at $25k vs $30k?

$65k to $30k is the dip. Start buying and stop talking about the hypothetical lower price you’re going to buy at. Some broken record advice… DCA. Invest 1/52nd of what you want to invest in total every week. And if that dip comes that you’ve been waiting for… stop the DCA strategy and and back up the truck to buy as much as you want.

steps off soapbox

Submitted June 26, 2021 at 06:49PM by Major_Bandicoot_3239 https://ift.tt/35ScAtJ https://ift.tt/2Z7cX2s

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Crypto Is About to Become as Ordinary as Cash - And Bitcoin be the leader

https://ift.tt/3x0TltA

Submitted June 26, 2021 at 09:18PM by iwtemailsytop https://ift.tt/3A07A3P https://ift.tt/2Z7cX2s

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via IFTTT

Can Bitcoin and Ethereum survive this scare?

Myth debunked: Cryptocurrency has no real value

Most people wished to buy BTC for 30K when it was 64k. But now that we can we are too sacred.

Remember when the bull was strong and unstoppable, most people around me wanted to buy BTC. Most of them said and hoped that if BTC was still 30K I would have bought a shit ton of it.

There is a saying and it goes something like this:

"If you cannot love (buy) me (crypto) on a discount, they don't deserve me when I bull"

Submitted June 26, 2021 at 09:47PM by Accomplished-Design7 https://ift.tt/3hdwdBF https://ift.tt/2Z7cX2s

Daily Discussion, June 27, 2021

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted June 27, 2021 at 12:07AM by rBitcoinMod https://ift.tt/35St4C7 https://ift.tt/2Z7cX2s

Bitcoin’s Hashrate Recoups Some Loss, 2021’s Largest Mining Difficulty Drop Expected Next Week

Bitcoin Hashrate Climbs Back Above 100 EH/s, Difficulty Could Drop More Than 20% Next Week

Statistics show that bitcoin (BTC) miners are processing blocks a lot faster, as the hashrate has improved during the last 48 hours. On June 26, 2021, the network’s hashrate jumped back above the 100 EH/s zone.
The hashrate fell to 91 EH/s on June 23, 2021, following the crackdowns in China stemming from five Chinese provinces with the most recent being Sichuan. Between then and over the last three days, the hashrate has increased 9-13%.

The next mining difficulty drop is expected to happen in five days and at current processing power, it could drop around 20.57%. At the time of writing, the network’s mining difficulty is 19.93 trillion and the change could bring it to 15.83 trillion next week.
Bitcoin’s mining difficulty is essentially the measurement of how difficult it is to find a hash below a given target. When Bitcoin’s hashrate is high, the difficulty will increase, and when the hashrate drops like it did after China’s crackdown, the mining difficulty will drop lower. Therefore making it easier and harder to mine BTC with every fluctuation. Bitcoin’s network difficulty changes every 2,016 blocks or roughly every two weeks.

A lower difficulty will make it easier for bitcoin miners to find blocks and it can be more profitable for miners this month, as bitcoin’s (BTC) price has dropped much lower than it was two weeks ago. The last difficulty change saw the Taproot lock-in take place and the protocol upgrade should activate in November 2021.
There’s approximately 16 known bitcoin mining pools with dedicated SHA256 hashrate directed at the Bitcoin chain. One portion of hashrate is considered “unknown” or mystery hashrate, which currently captures 7.57 EH/s or 7.49% of the global hashrate distribution on Saturday evening (ET).

The top five bitcoin (BTC) mining pools on June 26, 2021, include Antpool, F2pool, Viabtc, Binance Pool, and Poolin. Those five mining pools capture 62.83% of the Bitcoin hashrate, while the rest is processed by 11 known pools and a 7.49% portion of mystery hashrate.
The next difficulty change seems to be pointing toward the largest mining difficulty drop in 2021 thus far. The network did see the largest difficult rise in 2021, with an approximate 21.53% increase, at block height 683,424 on May 13.

What do you think about the hashrate climbing back after the crackdowns in China? Let us know what you think about this subject in the comments section below.

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via IFTTT

Bitcoin Rewards App, Lolli, featured on CNBC! | Facebook

AAVE And Amp: Top Tier Cryptocurrencies - Global Rubber Markets

“Cryptocurrencies are not a currency, they're a speculative investment”

Cryptocurrencies Weekly Summary – Top Five Crypto Coins to Watch

Despite the gloomy headlines over the ban on cryptocurrency mining, the BTC/USD coin managed to stop the previous day's downward rally, ...

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via IFTTT

Stop hoping and waiting for BTC to dip more.

steps off soapbox

Submitted June 26, 2021 at 06:49PM by Major_Bandicoot_3239 https://ift.tt/35ScAtJ https://ift.tt/2Z7cX2s

Crypto Is About to Become as Ordinary as Cash - And Bitcoin be the leader

https://ift.tt/3x0TltA

Submitted June 26, 2021 at 09:18PM by iwtemailsytop https://ift.tt/3A07A3P https://ift.tt/2Z7cX2s

Saturday, June 26, 2021

Binance banned in Ontario

https://www.binance.com/en/support/announcement/ba03469c86f34546bd25faf414730733#

Fellow Binancians,

As part of our continuing compliance efforts, Binance has updated its Terms of Use to provide that Ontario (Canada) has become a restricted jurisdiction, effective 2021-06-26 at 3:59:59 AM (UTC). Regrettably, Binance can no longer continue to service Ontario-based users. Ontario-based users are advised to take immediate measures to close out all active positions by December 31, 2021.

We apologize for any inconvenience caused.

Thanks for your support!

Fuck this clown province

Submitted June 25, 2021 at 08:22PM by triplemilk https://ift.tt/3jbUvi5 https://ift.tt/2Z7cX2s

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Michael Saylor Gives Insight on The Bitcoin Market, China, Green Mining & MicroStrategy - June 25th 2021

https://youtu.be/MkRXEzSpctw

Submitted June 25, 2021 at 07:48PM by Fiach_Dubh https://ift.tt/2SqBqgW https://ift.tt/2Z7cX2s

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Daily Discussion, June 26, 2021

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted June 26, 2021 at 12:04AM by rBitcoinMod https://ift.tt/3qsiHOz https://ift.tt/2Z7cX2s

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Wednesday, June 30, 2021

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Bitcoin Hashrate Climbs Back Above 100 EH/s, Difficulty Could Drop More Than 20% Next Week

Bitcoin Hashrate Climbs Back Above 100 EH/s, Difficulty Could Drop More Than 20% Next Week

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