In Canada, the British Columbia Securities Commission has taken control over the troubled Einstein Exchange, which owes over $12 million to users. At the end of October, Einstein announced that it would suspend services in the coming months, but the government agency seized the company before those plans could be implemented.
According to a published study which looked at job postings on the site, Indeed.com, the number of crypto job offers increased by 1,457% in the period from September of 2015 through September 2019. Searches for crypto-related work by jobseekers increased by 469% over the same period. According to the survey, the top 5 in-demand positions in the crypto economy are all for coders. Deloitte, IBM, and Accenture were the top 3 recruiters in the study.
The payments company founded by Twitter co-founder Jack Dorsey, released its earnings results, reporting revenues of $1.27 billion in the third quarter of 2019. Square processed $148 million in bitcoin sales and the number of first-time bitcoin buyers has approximately doubled according to its third quarter investor letter.
The North African nation of Tunisia announced that it will soon release a fiatcoin tied to its currency, the Dinar. The Central Bank of Tunisia tested the currency by sending one dinar in value to an IMF representative. Citizens will soon be able to use the E-dinar to save or make payments. The Tunisian central bank wants to use it for international transfer in lieu of the US Dollar or SWIFT system.
99Bitcoins
Monday, November 11, 2019
Monday, October 28, 2019
Bitcoin had a real roller-coaster week. The price dropped like a stone on Thursday, falling to five-month lows of just over $7,000, only to bounce back to over $10,000 on Saturday. This 40% price surge represents the biggest daily gain since 2011.
In China, President Xi Jinping declared blockchain technology to be an important innovation. He said the country must increase investment and accelerate development in the crypto space. Following his remarks, the National People’s Congress passed new crypto laws which come into effect next year. While centralized crypto exchange companies won’t be legalized, they do encourage crypto research and education, while promoting adoption and providing regulatory clarity.
Bitmain, the major ASIC manufacturer and miner, is converting a disused aluminum smelting plant in Texas, into a Bitcoin mining farm. The plant will initially provide 25 megawatts of mining energy but soon could scale up to 300 megawatts.
Bakkt, the Bitcoin futures exchange backed by the owners of the New York Stock Exchange, hit a new all-time high in trading volume. 1,131 futures contracts have been traded representing approximately $9.7 million in trading capital.
Andreas Antonopolous tweeted regarding an issue on the Bitcoin Cash blockchain that an unknown miner has majority hashrate control. This miner found 21 blocks over an hour, where 6 would be the norm. It appears the miner is exploiting BCH’s difficulty adjustment algorithm.
99Bitcoins
In China, President Xi Jinping declared blockchain technology to be an important innovation. He said the country must increase investment and accelerate development in the crypto space. Following his remarks, the National People’s Congress passed new crypto laws which come into effect next year. While centralized crypto exchange companies won’t be legalized, they do encourage crypto research and education, while promoting adoption and providing regulatory clarity.
Bitmain, the major ASIC manufacturer and miner, is converting a disused aluminum smelting plant in Texas, into a Bitcoin mining farm. The plant will initially provide 25 megawatts of mining energy but soon could scale up to 300 megawatts.
Bakkt, the Bitcoin futures exchange backed by the owners of the New York Stock Exchange, hit a new all-time high in trading volume. 1,131 futures contracts have been traded representing approximately $9.7 million in trading capital.
Andreas Antonopolous tweeted regarding an issue on the Bitcoin Cash blockchain that an unknown miner has majority hashrate control. This miner found 21 blocks over an hour, where 6 would be the norm. It appears the miner is exploiting BCH’s difficulty adjustment algorithm.
99Bitcoins
Monday, October 21, 2019
It was not a good week for Facebook’s Libra project – again. Hotel reservation company, Booking.com, joined PayPal, Visa, and Mastercard to become the 7th major company to exit the project. Furthermore, a US Congressman said Facebook should drop Libra and instead implement Bitcoin. Warren Davidson criticized Facebook’s speech filters and feared similar filters on transactions.
The tax haven island of Bermuda is set to accept US Dollar-pegged Stablecoin, USDC, for tax payments. USDC is issued by the major US exchanges, Coinbase and Circle. Bermuda is known for its lenient approach to crypto taxation and legislation and now becomes the first nation to accept a stablecoin for tax payments.
Binance, the largest crypto-to-crypto exchange brought in approximately $186 million in profits in Q3; up 56% from Q2. Every quarter Binance burns BNB worth 20% of its quarterly profits. During the 9th burn, Binance sent 2 million BNB valued at 36 million USD to an inaccessible address. Cumulatively, the exchange has made more than $1 billion in a little over two years of existence.
The supply of Bitcoin reached 18 million BTC out of the maximum of 21 million. This means that over 85% of Bitcoin’s total supply has been issued. It’s expected to take another 120 years before all coins are mined.
Oxford University Press has added the term “satoshi” to their famous dictionary. The word “Bitcoin” was added in 2014.
99Bitcoins
The tax haven island of Bermuda is set to accept US Dollar-pegged Stablecoin, USDC, for tax payments. USDC is issued by the major US exchanges, Coinbase and Circle. Bermuda is known for its lenient approach to crypto taxation and legislation and now becomes the first nation to accept a stablecoin for tax payments.
Binance, the largest crypto-to-crypto exchange brought in approximately $186 million in profits in Q3; up 56% from Q2. Every quarter Binance burns BNB worth 20% of its quarterly profits. During the 9th burn, Binance sent 2 million BNB valued at 36 million USD to an inaccessible address. Cumulatively, the exchange has made more than $1 billion in a little over two years of existence.
The supply of Bitcoin reached 18 million BTC out of the maximum of 21 million. This means that over 85% of Bitcoin’s total supply has been issued. It’s expected to take another 120 years before all coins are mined.
Oxford University Press has added the term “satoshi” to their famous dictionary. The word “Bitcoin” was added in 2014.
99Bitcoins
Monday, October 14, 2019
Some of the biggest corporate backers of Facebook’s Libra currency have withdrawn from the project, dealing a major blow to Facebook’s plans for a global cryptocurrency. Visa, MasterCard, eBay, and Stripe have all followed PayPal’s lead in bowing out of the Libra Association, just prior to its upcoming inaugural board meeting. These additional exits leave Libra with no major US payment processor.
The American financial regulator has taken legal action against the Telegram company for what it claims was an unregistered securities offering. Telegram raised $1.7 billion Dollars for its TON cryptocurrency. The SEC is seeking a restraining order to prevent the release within the US of the new TON tokens.
The Internal Revenue Service in the US has updated its rules for the taxation of cryptocurrency. The newly-published guidance clarifies how tax applies to new and formerly ignored situations, such as profits from the sale of crypto, income tax on crypto, and how crypto forks and airdrops are taxed. One downside is that people now may be taxed in excess of their gain from airdrops.
The United Nations Children’s agency announced a new fund for receiving cryptocurrency donations. UNICEF is the first UN agency to accept crypto donations, which they will use to fund open source technology of assistance to young people. UNICEF will hold and disburse donations directly in crypto form – not in fiat.
99Bitcoins
The American financial regulator has taken legal action against the Telegram company for what it claims was an unregistered securities offering. Telegram raised $1.7 billion Dollars for its TON cryptocurrency. The SEC is seeking a restraining order to prevent the release within the US of the new TON tokens.
The Internal Revenue Service in the US has updated its rules for the taxation of cryptocurrency. The newly-published guidance clarifies how tax applies to new and formerly ignored situations, such as profits from the sale of crypto, income tax on crypto, and how crypto forks and airdrops are taxed. One downside is that people now may be taxed in excess of their gain from airdrops.
The United Nations Children’s agency announced a new fund for receiving cryptocurrency donations. UNICEF is the first UN agency to accept crypto donations, which they will use to fund open source technology of assistance to young people. UNICEF will hold and disburse donations directly in crypto form – not in fiat.
99Bitcoins
Monday, October 7, 2019
Coinbase’s specialized exchange for advanced traders, Coinbase Pro, unexpectedly hiked its fees significantly. Beginning Monday, Coinbase Pro introduces a new tiered system whereby anyone trading under $10,000 per month will pay half a percent fee on every trade. Small traders are understandably unhappy with the new fee structure.
Crypto custodian BitGo has added staking to its services, beginning with cryptocurrencies Dash and Algorand. Through BitGo Staking, coin holders can earn between 7 and 13 percent annual returns. The coins will earn staking rewards while remaining in cold storage.
We recently covered the refusal by French and German officials to allow Libra to operate in their respective nations. Corporations are now joining the pushback, with Apple’s CEO, Tim Cook, characterizing Libra as a “power grab by a private company”. Even more damaging, PayPal withdrew from the Libra Association. Facebook’s growing difficulties show the advantage of a decentralized cryptocurrency with no identifiable controlling entity.
Various banks around the world experienced significant issues this week, highlighting the need for cryptocurrency as an alternative. Turkey’s government has frozen up to 3.9 million bank accounts and one of India’s major banks, PMC, has engaged in fraud.
Despite its recent price struggles, Bitcoin is the best performing asset in 2019, outpacing gold, tech stocks, and bonds. Bitcoin has more than doubled this year, whereas the best performing US stock sector is only up 31 percent.
99Bitcoins
Crypto custodian BitGo has added staking to its services, beginning with cryptocurrencies Dash and Algorand. Through BitGo Staking, coin holders can earn between 7 and 13 percent annual returns. The coins will earn staking rewards while remaining in cold storage.
We recently covered the refusal by French and German officials to allow Libra to operate in their respective nations. Corporations are now joining the pushback, with Apple’s CEO, Tim Cook, characterizing Libra as a “power grab by a private company”. Even more damaging, PayPal withdrew from the Libra Association. Facebook’s growing difficulties show the advantage of a decentralized cryptocurrency with no identifiable controlling entity.
Various banks around the world experienced significant issues this week, highlighting the need for cryptocurrency as an alternative. Turkey’s government has frozen up to 3.9 million bank accounts and one of India’s major banks, PMC, has engaged in fraud.
Despite its recent price struggles, Bitcoin is the best performing asset in 2019, outpacing gold, tech stocks, and bonds. Bitcoin has more than doubled this year, whereas the best performing US stock sector is only up 31 percent.
99Bitcoins
Monday, September 30, 2019
Crypto markets suffered a serious drop this week. Bitcoin led the market downwards, as it slipped below its support level of $10,000. Bitcoin’s falling dominance is perhaps a result of stablecoins holding steady during this market decline.
Binance.US, the American arm of cryptocurrency exchange giant Binance, has announced it is starting trading fiat-crypto and crypto-to-crypto trading pairs this week. The trading platform lists seven cryptocurrencies immediately upon launch; including Bitcoin, Binance coin (BNB), ethereum, XRP, bitcoin cash, litecoin and Tether. Users who already have deposits with Binance.com will not see their funds automatically transferred to the U.S. platform.
The Bakkt Futures exchange, offering futures contracts backed 1:1 with BTC, finally launched last week after much delay. Institutions may now trade Bitcoin on Bakkt, an exchange operated by the same company that runs the New York Stock Exchange. 165 BTC have been traded on Bakkt thus far.
It was reported that by the end of March 2020, over 25,000 French stores will be joining those already accepting Bitcoin. These 30 brands include major international franchises like Foot Locker. The outlets are partnering with EasyWallet and Easy2Play Payment to offer Bitcoin purchases, with all crypto received instantly converted to Euros.
The Digital Exchange of the Stuttgart Stock Exchange now offers Bitcoin trading. Initial trading will be restricted to a few selected participants, with plans to expand it to institutional investors.
99Bitcoins
Binance.US, the American arm of cryptocurrency exchange giant Binance, has announced it is starting trading fiat-crypto and crypto-to-crypto trading pairs this week. The trading platform lists seven cryptocurrencies immediately upon launch; including Bitcoin, Binance coin (BNB), ethereum, XRP, bitcoin cash, litecoin and Tether. Users who already have deposits with Binance.com will not see their funds automatically transferred to the U.S. platform.
The Bakkt Futures exchange, offering futures contracts backed 1:1 with BTC, finally launched last week after much delay. Institutions may now trade Bitcoin on Bakkt, an exchange operated by the same company that runs the New York Stock Exchange. 165 BTC have been traded on Bakkt thus far.
It was reported that by the end of March 2020, over 25,000 French stores will be joining those already accepting Bitcoin. These 30 brands include major international franchises like Foot Locker. The outlets are partnering with EasyWallet and Easy2Play Payment to offer Bitcoin purchases, with all crypto received instantly converted to Euros.
The Digital Exchange of the Stuttgart Stock Exchange now offers Bitcoin trading. Initial trading will be restricted to a few selected participants, with plans to expand it to institutional investors.
99Bitcoins
Monday, September 23, 2019
Bakkt’s physically delivered Bitcoin futures trading went live for trading on the Intercontinental Exchange (ICE) on Sept. 22 at 8 PM EST (00:00 UTC Sept. 23). Following the launch, the volume is starting to pick up with some traders comparing the platform’s launch to Bitcoin futures launched by the Chicago Mercantile Exchange in December 2017.
At press time, 29 bitcoins has been traded on the ICE’s Bakkt Bitcoin futures platform, with a last recorded trading price accounting for $9,992.
cointelegraph.com
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