Monthly Archives: October 2019

Market Mostly Trades Sideways as Bitcoin Price Hovers Around $9,100

The price of Bitcoin is holding above the $9,100 price mark as the market is mostly trading sideways today. Thursday Oct. 31 — Cryptocurrency markets are largely trading sideways with most changes among the top-20 coins not exceeding 1% on the day. Cryptocurrency market daily overview. Source: Coin360 Bitcoin (BTC) has been trading sideways for the better part of the day and continues to circle around the $9,100 price mark. The coin bounced off a local low of $8,960 earlier today before moving to its current trading price […]

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Binance Plans New Office in Beijing in First Presence in China Since 2017

In a first since China’s crypto ban of 2017, Binance may be planning to open an office on the Chinese mainland. Major crypto exchange Binance may be returning to China, with a planned office to open in Beijing, sources say. Binance in exile Binance, which left China in September 2017 in response to the country’s ban on crypto trading, is looking to open a new office in Beijing to accompany one operating in Shanghai, two unnamed sources told Coindesk, Oct. 31.  As of press time, sources at […]

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Mt. Gox Rehabilitation Plan Deadline Extended Again

Victims of the Mt. Gox hack will have to keep on waiting for the next step in their long journey toward reimbursement.  Nobuaki Kobayashi, trustee for the defunct cryptocurrency exchange, announced that the deadline to form a concrete plan to compensate defrauded customers has been extended to March 31, 2020. The Tokyo District Court has agreed to his request just as the previous deadline of October 28, 2019, was about to expire. The announcement states that a large number of claims “that the Rehabilitation Trustee fully or […]

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Italians Prefer BTC to Visa or Mastercard When Shopping Online

Bitcoin is the third most-used online payment method in Italy, ahead of traditional credit cards like Visa, Mastercard and American Express. According to new data from marketing analysis firm SEMRush, Bitcoin (BTC) is the third-most preferred online payment method in Italy. Bitcoin comes in third place On Oct. 31, the Italian news outlet La Stampa reported that the Boston-based marketing analysis company, it was stated that in the list of the most used methods of online payment systems in Italy, Bitcoin comes in a strong, third place, […]

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Proof-of-Work Doesn’t Solve Every Blockchain Use Case

Alternative use cases for a blockchain, existing alternatives to proof-of-work, and a case for why we need new consensus mechanisms. The Bitcoin white paper was published 11 years ago today, on Oct. 31, 2008, meaning that Bitcoin (BTC) is celebrating its 11th year of existence. From its humble beginnings to over a $300 billion market capitalization in 2017, the success of Bitcoin is truly a remarkable accomplishment.  What is Bitcoin? A question with many answers. Digital gold, magic internet money, a hedge against macro risk, tulip mania? […]

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Bitcoin Price Must Now Break $9.5K to Prove ‘Xi Pump’ Wasn’t a Fluke

Bitcoin bulls now hope to capitalize on last week’s big gain, but several resistance levels stand in the way before BTC/USD hits $10,000 again. Bitcoin price (BTC) is currently locked in a battle to stay above the descending channel and have another run at the recent high at $10,540. In order to do this, first, the digital asset needs to overtake the resistance levels at $9,300 and $9,400.  Was the “Xi pump” a fluke?  As Bitcoin fights to stay above this all-important line, traders are likely beginning […]

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Russian Aluminum Plant Set to House Cryptocurrency Mining Farm

International economic sanctions have propelled many countries toward cryptocurrencies — from Venezuela to Iran. Now, U.S. sanctions imposed on one Russian company have paved the way for a cryptocurrency mining operation to take over a decidedly industrial facility. Rusal Turns to Cryptocurrency Mining in Face of Sanctions One such establishment is Rusal, an aluminum giant owned by Oleg Deripaska, an aide to Russian President Vladimir Putin. In April 2018, Deripaska was named by the U.S. Office of Foreign Assets Control (OFAC) as a “Designated Russian oligarch,” thanks […]

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The SEC Files as the CFTC Settles Charges Against Swiss Securities Dealer

The U.S. SEC and CFTC have both filed and settled charges against Switzerland-based securities dealer XBT Corp. SARL. The United States Securities and Exchange Commission (SEC) has filed charges against XBT Corp. SARL on the same day that the Commodity Futures Trading Commission (CFTC) settles charges against the same company.  SEC allegations In a press release on Oct. 31, the SEC alleged that the Switzerland-based securities dealer, XBT Corp. SARL, operating under the name First Global Credit, offered and sold unregistered security-based swaps to U.S. investors without complying […]

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New IRS Tax Guidance Targets Crypto, and US Persons Who Use It

Do you have a diverse portfolio that contains digital currency? The United States Internal Revenue Service also wants to know your answer. On Oct. 9, 2019, the United States Internal Revenue Service issued Revenue Ruling 2019-24 and a series of frequently asked questions, identifying rules governing U.S. taxation of digital currencies. Taxation in the U.S. is unbelievably complex, but the new IRS guidance takes a step-by-step approach to address some of the most common issues facing holders of digital currency. The basics are as follows: If you […]

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Tracking Bitcoin Transactions, Explained

Keeping track of your crypto transactions can be crucial for some much-needed peace of mind. How can I be informed of what’s happening with my crypto transactions? Some crypto exchanges are aiming to deliver full transparency to their users. This attitude toward openness can be especially beneficial for users who are using Bitcoin and other cryptocurrencies for the first time. HitBTC, which bills itself as one of the most advanced crypto exchanges on the market today, has created a System Monitor that delivers live statistics concerning incoming […]

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