Day: April 9, 2018

Blockchain luminaries descended on the University of Pennsylvania’s business school in what seemed like a recruiting session for the crypto-ecosystem.

Cryptocurrency taxation is always a complex and controversial topic. This is especially true in Europe, as there are no unified guidelines to speak of. In Spain, the question as to whether or not Bitcoin needs to be taxed is a hot topic right now. For now, it seems there is no reason to report any Bitcoin-related gains, losses, or holdings, although the country’s Treasury feels differently about that.

Spain’s Treasury Probes Bitcoin Exchanges

As is the case with all other European countries, Spain has no official regulation in terms of Bitcoin taxation as of right now. With the ECB not looking to regulate this industry, it is up to individual countries to make their own rules in this regard. Whether or not any country will do so is a different matter altogether.

In Spain, the topic of Bitcoin taxation is a pressing matter. With tax season on the horizon, a lot of Spanish Bitcoin holders are wondering if they need to report their holdings to the country’s Treasury. As Bitcoin is not a tangible asset in the eyes of the Treasury, there should not be any tax filings to speak of.

However, it is evident the country’s authorities are looking into Bitcoin holders. With exchanges not being subject to the same strict rules as banks, it is only normal that the government wants to keep a close eye on things. As of right now, Spanish trading platforms are not obligated to cooperate with the Public Administration when it comes to customer data.

If an exchange were to share customer information with Spain’s treasury, the company would be breaking a professional agreement. This could have legal ramifications, although there is no precedent for such actions in Spain. That doesn’t mean the situation will not change in the future, but there isn’t much to be concerned about just yet.

One thing to keep in mind is that Spain’s Tax Agency has probed local exchanges for customer information related to cryptocurrency holdings. Whether or not this will have any repercussions for the average Spanish consumer remains anybody’s guess. Not declaring cryptocurrency holdings as a consumer isn’t illegal, but it may be in people’s best interest to share this information regardless.

It will be quite interesting to see how the Bitcoin taxation situation in Spain evolves in the coming months and years. As of right now, the Treasury seems actively interested in probing exchanges, although it should not necessarily expect much cooperation. Even so, this may very well hint at future regulation in this regard.

When it comes to volatile cryptocurrencies, there are quite a few notorious examples on the market. Bitcoin is obviously at the top of the list, but it is far from the only currency to suffer from this fate. In fact, it seems the Verge price is gaining some momentum in this regard as well, although that is not necessarily a positive development.

Verge Price Volatility Reigns Supreme

It is quite interesting to keep an eye on price movements associated with the Verge price. While the currency has a very loyal community and following, it is evident there are a fair few ups and downs to take into account. While it is true there is some positive Verge price momentum as of right now, that may not remain in place for much longer. All cryptocurrency markets are showing signs of further bearish pressure, which will push the values down even further.

For the Verge price, we are currently looking at a solid 7.13% increase over the past 24 hours. As such, the value per XVG has risen to $0.069 once again, which is not necessarily all that bad. Even so, we have seen this value a few times in the past few weeks, and it never remained at that level for some unknown reason. With the volatility clearly present in this industry, it has become evident there is no price stability whatsoever.

It is also worth noting the Verge price increase is a direct result of a 11.49% gain over Bitcoin itself. The correlation between Bitcoin and altcoins works both ways, although it doesn’t happen all that often we see a declining Bitcoin price result in positive price momentum for an altcoin. Even so, it seems the Verge price can effectively note some temporary gains, albeit it seems to be a matter of time until the Verge price drops below $0.065 again.

With $115.6m in 24-hour trading volume, the demand for XVG is certainly present as of right now. Even though it remains unclear how much of this demand is genuine or part of a brief pump-and-dump cycle. It is certainly possible the Verge price is getting a brief pump as of right now, but that doesn’t necessarily have to be a bad thing in the world of cryptocurrency.

Judging by the list of exchanges trading XVG, it seems Binance is tightly controlling the market. Its BTC and ETH pairs generate about 45% of all trades, although Upbit’s KRW pair is also generating a hefty amount of trading. All of this further confirms there may be a small pump taking place right now, especially with all of the bearish pressure on the cryptocurrency markets as of right now.

Whether or not the Verge price will remain at the current level, or drop below the current threshold, remains to be determined. It is evident bearish momentum is forming across all cryptocurrency markets as of right now, but it seems to be a matter of time until things improve once again. For now, the Verge price needs to be taken in stride at all times, but it is only normal things will remain volatile until stability is found.

Blockchain has the potential to give the public greater control over their data – and help them earn money whenever their information is used #EXPLAINED

China now has a new blockchain fund with $1.6 billion available – 30 percent of that backed by the Hangzhou city government.

Nowadays, people face a great variety of puzzles in different areas of business, including adaptation to highly competitive market conditions, implementation of advanced technologies and so on. This is the main reason Global Business and Technology Incubator has acquired the revolutionary Air Taxi. The good news is the inventive McFly.aero project is incubating the Air Taxi Management System as well as the international community of its developers, operators and end users.

Disclosure: This is a Sponsored Article

The McFly.aero will provide a blockchain-based platform for entrepreneurs and passengers who are described as “future customers of a more than a trillion dollar industry of urban air taxi flights.” If you’re tired of big traffic in your city, McFly.aero is ready to resolve this crucial problem by creating a three-phase program of an infrastructure for flying cars. In addition, it’s uniting 10 Technology Consortium members willing to develop compatible components for the project infrastructure.

McFly.aero has 2 great strategic goals:

1) to develop a selection of compatible hardware and software from Consortium members for an integrated air taxi management system.

2) to ensure rapid adoption through a global community (evangelists, experts, volunteers) that supports technology entrepreneurs in building air taxi-related businesses.

New Opportunities for Business

McFly.aero project is the incubator for the particular supply chain and market channel for the eVTOL, which must be able to deliver to a growing variety of aerial vehicles as a service. In order to achieve this, a service-oriented ecosystem needs to be incubated, comprised of turnkey compatible infrastructure solutions and all players made aware of how to implement it.

Why does McFly.aero think the incubator is the most suitable option? The incubator is the only way to ensure compatibility and scalability of something emerging as completely new. Moreover, this is a classic way to catalyze new technologies and business-models, while a successful incubator benefits all industry and market players.

There are different forms of incubators, venture capitals, marketplaces, government grants and research, and development laboratories. McFly.aero team has chosen the marketplace. Using it, it’s quite easy to attract as many users as possible, create demand for a product, and raise awareness of the brand among other competitors. In addition, marketplaces reduce transaction costs and lower entry barriers for developers, manufacturers and final users.

New Opportunities For Entrepreneurs

McFly.aero Incubator provides low entry barriers and fast scaling for all: entrepreneurs, manufacturers, city managers. Compared to the scalability and level of entry barriers gridmasters enjoy, platform operators may enjoy easier scalability and higher entry barriers. Local businessmen, on the contrary, may have lower entry barriers, but face difficulties to scale beyond one city, and OEM manufacturers, as you see, may get stuck in ‘format wars,’ presenting them with high entry barriers in certain markets and additional difficulty to scale.

Using McFly.aero, entrepreneurs can deploy a local grid of connected devices. This IoT network pays every device owner McFly.aero tokens every time the device is used to serve a flight to a passenger.

McFly.aero is focused on combining the high scalability of a unified technology solution with the lowest entry barriers which only local businesses can enjoy and strive to incubate:

1. a) business models within existing players;
2. b) completely new business models and types of players.

New business models can be developed by existing players in such areas as Hardware Development, Software Development, Manufacturing, Navigation, Autonomy, Real Estate Development, Architecture, Law.

The project has a demonstrated ability to engage thousands of users globally, as the McFly.aero token is catalysing growth in the last 4 months with current stats: 10 companies, 30 cities, 1000 people, 15,000 tasks done, and a 200,000-person audience reached.

Your company, through McFly.aero, may become a service provider to thousands of awaiting customers in dozens of the world’s cities. Plus, if you’re a member of Community, you are invited to explore business models on the new market, test new technologies, gain social capital locally and internationally, earn McFly.aero tokens as rewards for efforts and contribution, and have international community support your actions.

For you, the McFly.aero token is:

• 
  an indicator of success,
  • 1 minute of flight,
      • a core technology,
      • a direct result of your action and contribution, as well as that of the Community,
      • a utility growing within the ecosystem created for the exponential and life-changing industry.

New conspicuous hire for the IOTA Foundation in the form of Fujitsu exec Dr. Rolf Werner. #NEWS

The post Institutional Investors are Entering Mature Cryptocurrency Market, Bitcoin Surge Likely appeared first on NewsBTC.

Co-founder of cloud software giant Salesforce unveils plans to offer Blockchain and crypto solutions by Sep. 2018. #NEWS

Crypto markets are experiencing another period of decline after yesterday’s slight uptick. Eight out of the top ten coins are firmly in the red. #NEWS

Any positive cryptocurrency market momentum remains pretty difficult to come by. Even today, it seemed as if a positive trend would finally materialize, yet most of the top 20 currencies are in the red once again. The NEO price is one of the few exceptions in this regard, even though the going remains pretty tough for this altcoin.

NEO Price Gain is Being Crushed

As one would almost come to expect these days, there is little to no room for long-term passive cryptocurrency market momentum. Whereas it seemed things were off to a good start two hours ago, most of those gains have been eradicated every since Rest assured this is not the last of the bearish pressure either, as there is still a decent amount of volatility in the industry as of right now.

For the NEO price, 2018 has been absolutely terrible. Dropping from a value of $157 all the way to sub-$50 is not positive for any asset or cryptocurrency. As of right now, we are looking at a NEO price teetering on the $50 mark, although it seems evident this value will not be maintained for much longer. All markets are turning bearish again, and the NEO price will need to follow.

Even though the NEO price notes a solid 10.42% gain over Bitcoin, that won’t be enough to keep things going. As of right now, Bitcoin is getting hammered into the ground, and it will continue to drag all other cryptocurrencies with it in the process. A NEO price of $45 seems more realistic at this point, although that may not even be the bottom, for all we know.

The NEO trading volume is still pretty impressive, although it seems the sellers will take control of the market fairly soon. With $214.19m in 24-hour trading volume, NEO is one of the most liquid altcoin markets outside of the top five right now. It is evident this volume is mainly made up of buyers right now, but rest assured the profit takers will soon have their way with the NEO price.

It comes as no surprise to anyone Binance is the leading trading platform for NEO right now. Its BTC and USDT pairs, as well as the ETH pair, generated a total of 47.6% of all trades. Other notable exchanges in the top five are Bitfinex and Upbit, as both of these companies offer fiat currency gateway trading for this altcoin. It seems the KRW market generates over twice the volume of its USD counterpart, which is not entirely uncommon either.

How things will play out for the NEO price, is still up in the air. As of right now, it seems a dip below $50 will materialize a lot quicker than people would like. Unless NEO can continue to gain on Bitcoin over the next few hours, we may very well see a NEO price of $45 by the end of today. The search for positive market momentum continues, but so far, it’s not within sight.

A petition supporting blockchain has gained 17,000 signatures since India Central Bank’s announced it was to terminate business with crypto-related accounts on 5 April.

Starting on the same day the Central Bank made its statement, the impetus behind the petition has been driven mainly by younger users who are employed in the industry, citing youth unemployment as a major concern.

The petition notes that blockchain technology is here to stay and that any prohibition of business activities reduces India’s competitiveness in the market risking the country being “left behind”.

Leaders from within the industry have been voicing their own particular concerns about the ban since the petition. Nischal Shetty, CEO of crypto exchange WazirX, sent a direct tweet to the Reserve Bank of India asking it to “think progressively” and “reconsider” its decision.

US, Japan, South Korea go towards regulating Cryptos so that their country progresses while RBI decides to block Indians from getting involved in the crypto revolution. We need to think progressively, @RBI please reconsider this and let's take a positive step forward

— Nischal (WazirX) (@NischalShetty) April 5, 2018

As one of the fastest growing economies in the world, India needs to remain competitive by providing new technologies with skilled labour. The blockchain and cryptocurrency sphere is one such area employing many young people.

India has one of the highest youth populations in the world; current estimates indicate a high of 356 million youth. By 2020, 500 million Indian citizens are expected to be under the age of 25.

India’s recent financial growth has not trickled down to benefit the sheer volume of young people who are out work. A lack of skilled manpower is one of the reasons behind such large numbers of unemployed youth and new technologies provide opportunities for new skills to be developed. Since its introduction, blockchain technology has created tens of thousands of jobs for young Indians.

The economic factor is also a concern to many. Recently, tech investor Tim Draper voiced his concerns with the Central Bank’s announcement, suggesting that this “mistake” could cause a tech drain.He believed this scenario to be likely following any total ban of cryptocurrency in India due to other emerging players around the world needing the technological expertise to develop their own industry portfolios.

Pakistan’s State Bank was quick to follow India last week with a statement confirming that financial companies would be barred from working with cryptocurrency firms in the country.

The post Over 17,000 Sign Petition Against India’s Crypto Ban appeared first on BitcoinNews.com.