Category Archives: Crypto Daily

Bitcoin to Rise to $20K This Year Spurred by Government Money Printing and Covid-19: Bloomberg

Bloomberg has forecast bitcoin to reach its record high of $20,000, and possibly $28,000, this year. According to the company’s June Crypto Outlook report, “something has to really go wrong for bitcoin not to appreciate in value.” Bloomberg points to quantitative easing and the coronavirus pandemic as the fuel behind bitcoin’s maturity, particularly when benchmarked against the falling stock market and crude oil. Both factors will cause the price of bitcoin (BTC) to rise. “Covid-19 is hastening the shift away from paper money and stimulating plenty of […]

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A Number of Hong Kong Vending Machines Support Bitcoin Cash Payments Over BTC

Just recently, cryptocurrency evangelist Roger Ver shared a video on Twitter that shows a number of vending machines in Hong Kong that accept bitcoin cash and ethereum, but not bitcoin. A bunch of people got upset at the Tweet, including the crypto-pundit Tone Vays because they couldn’t deal with the fact that onchain bitcoin transactions could not provide such services. The reason bitcoin cash is supported by these vending machines in Hong Kong is because bitcoin transaction fees are 1,931x more expensive than bitcoin cash transactions. Hong […]

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Chinese Government Crackdowns and Cheap Hydropower- Miners Migrate from North to South China

China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a number of investigations throughout the region. Regional reports disclose that a number of bitcoin mining operations are up and moving from areas in North China to regions in South China. On May […]

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Japanese Finance Minister Shoots Down Plan to Cut Bitcoin Tax to 20%, Cites Crypto-Divide

Japan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets. The development suggests that Japan will uphold its current definition of cryptocurrency as miscellaneous income, whereby virtual currency is taxed at rates of up to 55%. Players in the crypto sector have been pushing for new legislation that would categorize cryptocurrency as stocks for similar tax treatment. Responding to a question from […]

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Eidoo to Burn 80% of Company’s Token Holdings to Kickstart One of the Biggest Daos in Defi

Switzerland, 4th June 2020. Swiss-based crypto platform Eidoo is upgrading its native utility token into a governance token that will power a new cross-chain DAO. In a collaborative decision by Eidoo and pTokens, the $EDO token will be upgraded into $PNT later this month so that it can be used, staked and earn interest within the new pNetwork ecosystem – the decentralized network powering the pTokens solution. The pTokens project enables cryptocurrency to “move” across different blockchains, which unlocks liquidity in the market to push DeFi beyond […]

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Exponential Growth: Bitcoin’s Trading Volume Could Rival Major Asset Classes

Bitcoin’s trading volume has experienced exponential growth which could reach levels similar to major asset classes, according to a new report by Coin Metrics. The cryptocurrency’s daily volume could exceed that of all U.S. equities in less than four years and all U.S. bonds in less than five years, the analysis shows. Bitcoin’s Volume Growth Could Match Stocks and Bonds Cryptocurrency data provider Coin Metrics published its new State of the Network report (Issue 53) Tuesday that focuses on analyzing bitcoin’s trading volume. Coin Metrics estimates bitcoin’s […]

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US Regulators Target Bitcoin ATMs: 88% of the Funds Exit the Country via Machines

Bitcoin automated teller machines (BATMs) will become the next target for regulators, as world governments tighten screws on money laundering. According to Ciphertrace CTO John Jeffries, crypto-cash machines will attract “greater…regulatory focus” in a bid to rein-in alleged cross-border illicit financial transfers. Jeffries urged “the need for more uniform regulatory enforcement and compliance” as governments start to crack down on crypto-infused automated teller machines. This comes as Ciphertrace released a report showing that cross-border transactions accounted for 74% of bitcoin moved between exchanges in 2019. Of this, […]

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Roger Ver Donates $10K in Bitcoin Cash to Casa de Amparo Children’s Shelter

Just recently Bitcoin.com’s Roger Ver donated $10,000 worth of bitcoin cash to the charitable organization Casa de Amparo, a 501(c)(3) charity that helps children escape child abuse and neglect. Since 1978, Casa de Amparo has offered a myriad of programs that help those affected by and at risk of child abuse in San Diego County. Casa de Amparo: A Major Force in the Field of Child Abuse Prevention In the 2019 28th edition of the Child Maltreatment Report, it notes that there are millions of U.S. children […]

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Despite Russia’s Confusing Crypto Laws, P2P Bitcoin Trade Volumes Soar

Peer-to-peer cryptocurrency trading data shows digital assets like bitcoin are growing extremely popular in Russia, despite the State Duma’s opinions and regulations aimed at crypto assets. On Monday, the Russian government published a draft version of litigation mandates called “On Digital Financial Assets,” and lawmakers are looking for public opinion. Despite the strict proposal drafted by the Russian bureaucracy, trade volumes on certain exchanges have seen significant demand from the country’s citizens. Russia’s Cryptocurrency Laws Remain in the Gray Zone Just recently Russia’s State Duma released a […]

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Bitcoin Core 0.20.0 Released: What’s New

Today marks the official release of Bitcoin Core 0.20.0, the 20th major release of Bitcoin’s original software client launched by Satoshi Nakamoto over 11 years ago.  Overseen by Bitcoin Core lead maintainer Wladimir van der Laan, this latest major release was developed by over 100 contributors in a span of about six months. The result of more than 500 merged pull requests, Bitcoin Core 0.20.0 mostly cleans up and hardens the Bitcoin Core codebase, advances hardware wallet integration, improves network reliability and includes several other improvements. Here […]

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