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Tron Price Suffers a Flesh Wound as Momentum Temporarily Sours

tron logoIt seems today is off to a bit of a rocky start as of right now. Although a temporary setback is nothing to be overly concerned at this point in time, it does show bearish momentum can form at any given moment. The top three are still in a safe position, for now, but the Tron price is getting a lot more pushback than expected at this point. What is Happening With the Tron Price? With most of the cryptocurrencies going through a very solid run all week long, it is only normal a slight dip is forming. As is

tron logo

It seems today is off to a bit of a rocky start as of right now. Although a temporary setback is nothing to be overly concerned at this point in time, it does show bearish momentum can form at any given moment. The top three are still in a safe position, for now, but the Tron price is getting a lot more pushback than expected at this point.

What is Happening With the Tron Price?

With most of the cryptocurrencies going through a very solid run all week long, it is only normal a slight dip is forming. As is usually the case, the weekend is usually a time during which odd price momentum forms. While yesterday was still pretty positive in general, today is off to a bit of a bad start. The Tron price is a nice illustration of how this trend is shaping up.

To be more specific, the Tron price has lost 7.46% of its value in the past 24 hours. Albeit that is not necessarily unique or worrisome when looking at the bigger cryptocurrency picture, it comes as a bit of a surprise. Even though this negative pressure has been looming overhead for quite some time now, it does appear today may be the day when all currencies see a bit of a setback.

The Tron price is also suffering from declines over both Bitcoin and Ethereum. It is evident the top cryptocurrency markets will continue to do well, even though they are both suffering from a dip as well. With a 6% loss over Bitcoin and a 5.77% drop against Ethereum, it will be interesting to see if and when the Tron price can recover. Judging by this week’s momentum, that should not necessarily take all that long.

The Tron trading volume is still pretty strong right now, although it has declined slightly. While $445m in 24-hour volume is still rather impressive, it seems the investors and speculators have cooled off on Tron for today. Considering how it is Sunday, that is not really surprising, as we have seen similar trends before in the world of cryptocurrency. If the bearish pressure on both Bitcoin and Ethereum disappears, the Tron price will likely recover as well.

In the world of altcoins, there is only one exchange that really matters. Binance is leading the charge in terms of Tron trading volume, followed by Upbit and Bithumb. This South Korean interest in Tron has been apparent for some time now and it seems the momentum isn’t slowing down just yet. Unfortunately, the South Korean crowd isn’t capable of making much of an impact in this regard, but that is only to be expected on a Sunday.

For the time being, it remains a bit unclear what today will bring for the cryptocurrency industry. A temporary setback formed last week as well and it was bought up pretty quickly. Whether or not history will repeat itself in this regard, is a different matter. There isn’t much to be worried about right now despite some minor setbacks. It seems evident the Tron price will recover sooner rather than later, but this volatile industry is very difficult to predict.

Bitcoin Price Weekly Analysis – BTC/USD Could Settle above $10000 – newsBTC

newsBTCBitcoin Price Weekly Analysis – BTC/USD Could Settle above $10000newsBTCThis past week, bitcoin price traded with mostly bullish bias above the $9,000 support level against the US Dollar. The price slowly moved higher and broke the $9,250, $9,50…


newsBTC

Bitcoin Price Weekly Analysis – BTC/USD Could Settle above $10000
newsBTC
This past week, bitcoin price traded with mostly bullish bias above the $9,000 support level against the US Dollar. The price slowly moved higher and broke the $9,250, $9,500 and $9,700 resistance levels. It traded close to the $10,000 level and formed ...

Bitcoin Price Weekly Analysis – BTC/USD Could Settle above $10,000

Key Points Bitcoin price is trading with a positive bias and it currently placed nicely above $9,500 against the US Dollar. There is a major bullish trend line forming with support at $9,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains in an uptrend and it may well

The post Bitcoin Price Weekly Analysis – BTC/USD Could Settle above $10,000 appeared first on NewsBTC.

Key Points

  • Bitcoin price is trading with a positive bias and it currently placed nicely above $9,500 against the US Dollar.
  • There is a major bullish trend line forming with support at $9,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair remains in an uptrend and it may well break the $10,000 level and settle above it.

Bitcoin price is gaining momentum above $9,500 against the US Dollar. BTC/USD is likely to accelerate higher above the $10,000 and $10,500 levels in the near term.

Bitcoin Price Uptrend

This past week, bitcoin price traded with mostly bullish bias above the $9,000 support level against the US Dollar. The price slowly moved higher and broke the $9,250, $9,500 and $9,700 resistance levels. It traded close to the $10,000 level and formed a high at $9,960. Buyers failed to push the price above the $10,000 level, but the bias is still positive.

There was a minor downside correction from the $9,960 high. BTC price declined and traded below the 23.6% Fib retracement level of the last wave from the $8,847 low to $9,960 high. However, the decline was prevented by the $9,600 support level. There is also a major bullish trend line forming with support at $9,600 on the 4-hours chart of the BTC/USD pair. Moreover, the 38.2% Fib retracement level of the last wave from the $8,847 low to $9,960 high also acted as a support. At the moment, the price is placed nicely above $9,600 and it may continue to move higher during the coming days.

Bitcoin Price Weekly Analysis BTC USD

Looking at the chart, it seems like the price could accelerate gains above the $10,000 level. Above this last, the next stop for buyers could be $10,800 and $11,000 in the near term.

Looking at the technical indicators:              

4-hours MACD – The MACD for BTC/USD is slowly reducing its bullish slope.

4-hours RSI (Relative Strength Index) – The RSI is moving lower from the 70 level.

Major Support Level – $9,600

Major Resistance Level – $10,000

The post Bitcoin Price Weekly Analysis – BTC/USD Could Settle above $10,000 appeared first on NewsBTC.

VeChain Gains Institutional Investors With PwC’s Ownership, Optimistic Trend

‘Big Four’ giant PricewaterhouseCoopers (PwC) has recently announced that it is invested in VeChain, a blockchain platform that focuses on financial services, supply chain management, and smart contracts. The move has given the China-based cryptocurrency further hype ahead of its Main Net launch scheduled for the end of June. VeChain Could Gain Widespread Adoption for Its

The post VeChain Gains Institutional Investors With PwC’s Ownership, Optimistic Trend appeared first on NewsBTC.

‘Big Four’ giant PricewaterhouseCoopers (PwC) has recently announced that it is invested in VeChain, a blockchain platform that focuses on financial services, supply chain management, and smart contracts. The move has given the China-based cryptocurrency further hype ahead of its Main Net launch scheduled for the end of June.

VeChain Could Gain Widespread Adoption for Its Supply Chain Management Focus

VeChain, which is trading slightly over $5, is currently the 15th largest cryptocurrency by market cap, worth $2.79 billion, with a daily volume of $145 million. Its supply chain management focus has attracted the interest of many industries looking to enter the cryptocurrency ecosystem.

It is adoption in an offline consumer goods setting that will determine the success of any given cryptocurrency as a means of exchange. Earlier this year, millionaire Bitcoin enthusiast Tim Draper predicted that in five years time, one would be laughed at if she tried to buy a Starbucks coffee with fiat money. Extremely bullish on  Bitcoin, he expects other cryptocurrencies to fall away and leave Bitcoin as the standard.

It seems, however, that Starbucks Executive Chairman Howard Schultz doesn’t share the same opinion. He has recently said that Bitcoin will fail to become a currency today or in the future, but that the market will eventually pick “one or a few legitimate, trusted digital currencies off of the blockchain technology”. The criteria that will lift those few cryptocurrencies among over 1,600 is offline mass consumption.

These cryptocurrencies “will have to be legitimatized by a brand in a brick-and-mortar environment, where the consumer has trust and confidence in the company that is providing the transaction”, Schultz explained, leaving digital currency investors in search for specific attributes capable of attracting such consumer adoption.

VeChain is purposely built to connect blockchain technology to the real world, currently with a focus on cold-chain logistics, healthcare, automobile, and fashion. PwC is only the most recent large institution joining the project.

Many other companies are taking an offline approach to cryptocurrencies as a means of exchange. Tangem has launched a trial version of its smart banknote platform in Singapore. The card allows brick-and-mortar transactions with an uncopiable cold wallet.

South Korean cryptocurrency exchange Bithumb has also moved to the real world by partnering with mobile payment operator Korea Pay’s Services in an attempt to reach over 8,000 merchants across the country by the end of the year. The operator also partnered with three kiosk manufacturers in February to add cryptocurrencies as a new means of payment.

There are many use cases for cryptocurrencies and ‘means of exchange’ is one of them. In case Starbucks’ Schultz is right about Bitcoin losing the ‘currency race’, Tim Draper still stands to gain. His VC fund is betting on many potential winners, including VeChain.

The post VeChain Gains Institutional Investors With PwC’s Ownership, Optimistic Trend appeared first on NewsBTC.

Ethereum Price Weekly Analysis – ETH/USD Poised for Further Appreciation

Key Highlights ETH price accelerated gains and moved above the $800 resistance level against the US Dollar. There is an ascending channel with support at $800 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is placed nicely in a bullish trend and it could continue to move higher towards $850 and

The post Ethereum Price Weekly Analysis – ETH/USD Poised for Further Appreciation appeared first on NewsBTC.

Key Highlights

  • ETH price accelerated gains and moved above the $800 resistance level against the US Dollar.
  • There is an ascending channel with support at $800 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is placed nicely in a bullish trend and it could continue to move higher towards $850 and $880.

Ethereum price is showing positive signs versus the US Dollar and Bitcoin. ETH/USD could gain further with supports on the downside at $800 and $782.

Ethereum Price Trend

There was a sharp upside move from the $620 support zone in ETH price against the US Dollar. The price started rallying and moved above the $650, $680 and $720 resistance levels. Buyers took control and the price even climbed above the $800 level. The current uptrend is very strong with swing supports around the $800 and $660 levels.

The recent high was formed at $833.56 from where the price started a downside correction. It is still trading above the $800 level with many positive signs. There is also an ascending channel with support at $800 on the 4-hours chart of ETH/USD. Below the channel support, the 23.6% Fib retracement level of the last wave from the $621 low to $838 high is at $783. Therefore, if the price continues to correct lower, it may find support near $800 and $782-783 in the near term. Below $782, the price could test the 50% Fib retracement level of the last wave from the $621 low to $838 high at $727.

Ethereum Price Weekly Analysis ETH USD

The above chart also suggests that the price is placed nicely above $800. On the upside, a break above the recent high of $838 may perhaps push the price above the $850 level in the near term.

4-hours MACD – The MACD is currently reducing its bullish slope.

4-hours RSI – The RSI is still in the overbought zone with no major sign of a downside correction.

Major Support Level – $782

Major Resistance Level – $850

The post Ethereum Price Weekly Analysis – ETH/USD Poised for Further Appreciation appeared first on NewsBTC.

Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself – newsBTC


newsBTC

Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself
newsBTC
While one can agree Bitcoin isn’t perfect, the same applies to Bitcoin Cash. Bitcoin has the appeal, market cap, and mining support. Bitcoin Cash has none of those factors, yet it is still successful in its own regard. Michael Novogratz isn’t too happy
@Bitcoin Refers to Bitcoin as a Two-year-old Experimental Cryptocurrency With no WhitepaperThe Merkle
Markets Update: BCH Prices See Uncorrelated Movement Gain 13%Bitcoin News (press release)
Bitcoin Cash Opposers Scrap Lawsuit Against Bitcoin.com, Citing Lack Of CashCointelegraph
OracleTimes –Bitcoinist
all 74 news articles »

newsBTC

Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself
newsBTC
While one can agree Bitcoin isn't perfect, the same applies to Bitcoin Cash. Bitcoin has the appeal, market cap, and mining support. Bitcoin Cash has none of those factors, yet it is still successful in its own regard. Michael Novogratz isn't too happy ...
@Bitcoin Refers to Bitcoin as a Two-year-old Experimental Cryptocurrency With no WhitepaperThe Merkle
Markets Update: BCH Prices See Uncorrelated Movement Gain 13%Bitcoin News (press release)
Bitcoin Cash Opposers Scrap Lawsuit Against Bitcoin.com, Citing Lack Of CashCointelegraph
OracleTimes -Bitcoinist
all 74 news articles »

Asian Cryptocurrency Trading Update: Bitcoin Cash Bullish Ahead of Hard Fork

FOMO Moments Momentum has continued upwards over the weekend and crypto markets are pushing towards the critical $500 billion mark. Since their low of the year of $245 billion on April first, markets have gained 90% to current levels today. Bitcoin has remained flat over the past 24 hours and hovers just below $10k at

The post Asian Cryptocurrency Trading Update: Bitcoin Cash Bullish Ahead of Hard Fork appeared first on NewsBTC.

FOMO Moments

Momentum has continued upwards over the weekend and crypto markets are pushing towards the critical $500 billion mark. Since their low of the year of $245 billion on April first, markets have gained 90% to current levels today. Bitcoin has remained flat over the past 24 hours and hovers just below $10k at $9,870. The general sentiment is that altcoins could start to fall once BTC pushes past that barrier and a bull run on it ensues. At the moment the alts are a mixed bunch with some making solid gains while others have fallen. The coin performing the best right now is Bitcoin Cash.

According to Coinmarketcap BCH is up 15% on the day and has had a very bullish week. Currently trading at a touch under $1,800 Bitcoin Cash is up from $1,540 this time yesterday. Over the week BCH has risen 24% from $1,450 this time last Sunday. The monthly view for Bitcoin’s brother is even more impressive with a gain of 180% from $640 this time last month. Despite the war between the two factions, who both insist their version is the real Bitcoin, BCH has outperformed BTC in recent weeks. On the day it is up 15% against BTC to 18157000 satoshis, monthly gains are around 94% from 9300000 sats this time last month.

The impending hard fork has driven traders back to Bitcoin Cash. Scheduled for May 15, the split will quadruple the block size from 8Mb to 32Mb, many believe this will increase overall adoption as transaction times and costs are reduced. A full specification of the ‘Bitcoin ABC’ upgrade has been posted on Github. In addition to an adaptive block size, the update could also reduce block intervals to 2.5 minutes, similar to Litecoin. It could also potentially activating dormant code to offer a similar feature to the ERC20 tokens based on the Ethereum network. The two camps are still actively duking it out on social media with BTC advocates claiming that the Lightning Network is the way forward while the BCH clan claims that increased block size is a truer reflection of Satoshi’s vision. Either way, Bitcoin Cash is on a roll at the moment.

South Koreans are buying up Bitcoin Cash this morning with Upbit and Bithumb taking 20% of the trade in KRW. USDT is the next commonly used medium to buy BCH on Huobi, Bitfinex and OKEx. Total volume has doubled from $1 billion to $2 billion in the past 24 hours. Market cap for BCH is currently $30 billion which is only $5 billion behind XRP in third spot.

All cryptocurrencies have increased their total market capitalization once again by 1.5% to $469 billion at the time of writing. Over the week markets have gained 7.3% since this time last Sunday. Other altcoins having a good run during Asian trade this morning include Litecoin, Ethereum Classic, Bitcoin Gold, and Bytecoin.

More on Bitcoin Cash can be found here: https://www.bitcoincash.org/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

The post Asian Cryptocurrency Trading Update: Bitcoin Cash Bullish Ahead of Hard Fork appeared first on NewsBTC.

Bitcoin Cash Price Weekly Analysis – BCH/USD Accelerating Higher

Key Points Bitcoin cash price surged higher and broke the $1,550 and $1,700 resistance levels against the US Dollar. There is a crucial bullish trend line forming with support near $1,680 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair may correct a few points, but it remains supported above

The post Bitcoin Cash Price Weekly Analysis – BCH/USD Accelerating Higher appeared first on NewsBTC.

Key Points

  • Bitcoin cash price surged higher and broke the $1,550 and $1,700 resistance levels against the US Dollar. There is a crucial bullish trend line forming with support near $1,680 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair may correct a few points, but it remains supported above $1,650 in the near term.

Bitcoin cash price broke the $1,700 barrier against the US Dollar. BCH/USD is likely to accelerate higher as long as it stays above the $1,650 support.

Bitcoin Cash Price Support

There were continuous gains in bitcoin cash price from the $1,450 swing low against the US Dollar. The price surged higher and broke many barriers such as $1,500, $1,550 and $1,700. It even cleared the $1,800 hurdle and traded as high as $1,838 recently. The current price action is super bullish and it seems like the price may perhaps continue to grind higher towards $1,900 in the near term.

At the moment, the price is correcting lower and is trading below $1,800. However, there are many supports on the downside, starting with $1,750. The 23.6% Fib retracement level of the last wave from the $1,229 low to $1,838 high is also at $1,694 to prevent declines. More importantly, there is a crucial bullish trend line forming with support near $1,680 on the 4-hours chart of the BCH/USD pair. The most significant support is positioned above the $1,600 level. Additionally, the 38.2% Fib retracement level of the last wave from the $1,229 low to $1,838 high is at $1,605.

Bitcoin Cash Price Weekly Analysis BCH USD

Looking at the chart, if the price corrects lower, the $1,650-1,680 zone is likely to act as a strong buy zone. On the upside, a break above the recent high of $1,838 could push the price above $1,900.

Looking at the technical indicators:

4-hours MACD – The MACD for BCH/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is in the overbought zone.

Major Support Level – $1,650

Major Resistance Level – $1,900

The post Bitcoin Cash Price Weekly Analysis – BCH/USD Accelerating Higher appeared first on NewsBTC.

Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself

Controversy is not difficult to come by in the world of cryptocurrency. Bitcoin Cash is a very successful fork of Bitcoin. Even so, some people are trying to trick the masses into thinking it is the real Bitcoin. Michael Novogratz is one of the many people opposing this train of thought. Novogratz Sees Things Clearly

The post Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself appeared first on NewsBTC.

Controversy is not difficult to come by in the world of cryptocurrency. Bitcoin Cash is a very successful fork of Bitcoin. Even so, some people are trying to trick the masses into thinking it is the real Bitcoin. Michael Novogratz is one of the many people opposing this train of thought.

Novogratz Sees Things Clearly

Given the success of Bitcoin Cash, there is no reason why these tricks and shenanigans are needed. It is a different version of Bitcoin which seems to have gained a loyal following. Even so, there are some individuals who preach how BCH is the one and only Bitcoin. These debates have gone on for some time now, yet each a new level of worry every now and then.

The tweet by @Bitcoin clearly shows the lack of sensibility among some BCH supporters. While one can agree Bitcoin isn’t perfect, the same applies to Bitcoin Cash. Bitcoin has the appeal, market cap, and mining support. Bitcoin Cash has none of those factors, yet it is still successful in its own regard.

Michael Novogratz isn’t too happy with this debacle either. While Novogratz is a cryptocurrency-friendly individual, he doesn’t hesitate to call out shenanigans either. Bitcoin is a store of value and digital gold, in his opinion. That doesn’t mean BCH can’t achieve these goals in the future. However, this current approach of diluting the truth and reality is not the right way to go.

Bitcoin Cash “Tactics” Become Stranger

It is not the first time people openly oppose the “Bitcoin Cash is Bitcoin” discussion. Novogratz is the latest to do so, but certainly not the last. Earlier this year, Erik Voorhees made it clear he is not a “backer” of BCH, nor does he want to be portrayed as such. One of his comments on forking Bitcoin was taken out of content and used for BCH propaganda by some supporters.

In the end, it is not hard to see which coin is Bitcoin and which isn’t. The currency with the highest hashrate, biggest market cap, and market sentiment is Bitcoin. Everything else isn’t, but that is not necessarily a bad thing. Bitcoin has the first-mover advantage, yet no currency should even attempt to imitate it. Diversity is key in the financial sector and cryptocurrency is no exception.

As long as individuals such as Michael Novogratz can tell truth from fiction, no real harm is done. Novice cryptocurrency enthusiasts may struggle to distinguish between the two. The market clearly shows BTC is Bitcoin and BCH is an altcoin. That situation remains in place until something drastically changes. Whether or not that will happen, remains to be determined.

The post Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself appeared first on NewsBTC.

Bitcoin Bros, Meet The Women On The Block – Forbes


Forbes

Bitcoin Bros, Meet The Women On The Block
Forbes
Sunday May 13th, is a day to honor a special woman in our life. Many of us from all over the world, including myself and my mother, will be headed to the Williamsburg Hotel in Brooklyn, New York to spend Mother’s Day showing up for ourselves and for


Forbes

Bitcoin Bros, Meet The Women On The Block
Forbes
Sunday May 13th, is a day to honor a special woman in our life. Many of us from all over the world, including myself and my mother, will be headed to the Williamsburg Hotel in Brooklyn, New York to spend Mother's Day showing up for ourselves and for ...

How Hyperledger nudges business interest in the blockchain

There are unprecedented advantages to Hyperledger. It is based on the open-source coding concept, where blockchain developers meet with industry experts and business clients to establish a neutral community. 

There are unprecedented advantages to Hyperledger. It is based on the open-source coding concept, where blockchain developers meet with industry experts and business clients to establish a neutral community. 

Bitcoin for World Peace: Can the Digital Currency End War for Good?

Saifedean Ammous’s recently released ‘The Bitcoin Standard’ raises fascinating insights into peer-to-peer digital cash as a new standard of currency; the book highlights the far-reaching implications for global societies and most notably, Bitcoin’s latent potential to end perpetual war. War is an incredibly expensive, resource-intensive exercise of violence that is more often than not entirely against …

The post Bitcoin for World Peace: Can the Digital Currency End War for Good? appeared first on BitcoinNews.com.

Saifedean Ammous’s recently released ‘The Bitcoin Standard’ raises fascinating insights into peer-to-peer digital cash as a new standard of currency; the book highlights the far-reaching implications for global societies and most notably, Bitcoin’s latent potential to end perpetual war.

War is an incredibly expensive, resource-intensive exercise of violence that is more often than not entirely against the will of the people; in his book, Ammous postulates that ‘easy money’ is one of the tools that keeps the war machine active.

Easy Money

According to Investopedia:

“Easy money, in academic terms, denotes a condition in the money supply. Easy money occurs when the US Federal Reserve allows cash flow to build up within the banking system as this lowers interest rates and makes it easier for banks and lenders to loan money. Therefore, borrowers can acquire money more easily from lenders.”

Easy money is contrary to ‘hard money’ – fiat currency was previously backed by the ‘guarantee’ of it being redeemable in gold or precious metals. That being said, the gold standard doesn’t exactly imply that citizens can receive gold in return for their fiat, but instead, that the value of government-issued money is tied to the exchange rate of a certain quantity of gold.

With this, paper money flourished as a substitute for gold in transactions, bringing with it several advantages, one of the most prominent being that government spending had a calculable cost. This provided a distinct level of transparency for citizens as they could better understand the value of their money, knowing it was backed by something ‘hard’, making it more difficult for governments to manipulate the economy.

Perpetually printing war money

However, now that nothing is backing the value of money, it can just be printed at any point should it be justifiable, which it often is in the US, especially under war conditions. Trillions of dollars are spent on war by the US, and that could matter little when, thanks to loopholes in present laws, the US Treasury could choose to print a platinum coin and assign whatever value it wishes to it, removing the need to increase taxation or other measures to cover the cost.

Today, it is incredibly difficult for populations without something ‘hard’ backing their fiat to determine the actual cost of their government’s spending. Additionally, the people are given little to no incentive to save money for the long haul, considering that the future supply of the money is steadily and easily increased to an unknown limit.

Bitcoin bites back hard against war

Ammous brings Bitcoin into the picture, introducing it as the “hardest money ever invented”; Bitcoin commentator Roger Ver aptly summarized the situation in a statement made out to Antiwar.com:

“Bitcoin is so important to those who value peace because it undermines the ability of the state to fund wars via inflation. Before the era of central banking, wars were over quickly because the governments funding them would run out of money quickly. If the world is using Bitcoin, then governments will no longer have the ability to print money at will to fund their wars of aggression.”

The Bitcoin Standard

The Bitcoin standard as a neutral international economic model has great promise; Ammous makes the argument that international stability is “as hopeless as attempting to build a house with an elastic measuring tape whose own length varied every time it was used”.

Because of the absolute finite supply of Bitcoin, it can become an international unit of monetary measurement, whereas the foreign exchange market is typically speculative. Were this to become the case, countries could better manage their national currencies, in line with the Bitcoin exchange rate.

Economist Warren E. Weber made similar arguments stating in his 2015 paper:

“Thus, I assume that in addition to Bitcoin, the addresses in the decentralized ledger, there would be Bank of Canada dollars, Federal Reserve dollars, ECB euros, Bank of England pounds, and so forth. These central bank currencies would be separate currencies that circulate alongside Bitcoin. They would be tied to Bitcoin because they would be redeemable in Bitcoin on demand.”

Bitcoin appears to possess the capacity for at least making it more difficult, if not impossible, to conduct endless wars, thanks to its almost gold standard-like qualities. Indeed, a true solution to ending conflict requires populations choosing peace over war, and may also need the input of the public against their respective governments to wind down the military-industrial complex.

But, should Bitcoin find itself at the centre of international economic models, there is a very real chance to significantly reduce the chances for endlessly-funded wars.

 

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The post Bitcoin for World Peace: Can the Digital Currency End War for Good? appeared first on BitcoinNews.com.

Thailand, Latest Addition to Asian Cryptocurrency Tax and Regulation Movement

Thailand is the latest country in the Asia region to start levying taxes on cryptocurrencies, despite receiving some opposition from the Thai Blockchain associations. The news arrives as other countries in the region and around the world ramp up legal and regulatory efforts. Value-Added Tax and Capital Gains In early April 2018, Thailand’s Ministry of …

The post Thailand, Latest Addition to Asian Cryptocurrency Tax and Regulation Movement appeared first on BitcoinNews.com.

Thailand is the latest country in the Asia region to start levying taxes on cryptocurrencies, despite receiving some opposition from the Thai Blockchain associations. The news arrives as other countries in the region and around the world ramp up legal and regulatory efforts.

Value-Added Tax and Capital Gains

In early April 2018, Thailand’s Ministry of Finance released plans to tax cryptocurrency trading and investments. After a cabinet meeting in late March, Thai Finance Minister Apisak Tantivorawong responded to a letter sent by digital asset associations calling for the Deputy Prime Minister and government to “rethink the enforcement of a royal decree to regulate digital asset transactions — particularly the withholding tax, as it could be an obstacle to startup fund-raising,“ reports the Nikkei Asian Review.

The proposed 15% capital gains tax is considered by digital asset operators in Thailand to be a stifling figure for the industry. It puts financial pressure on startups seeking to break into the blockchain and cryptocurrency industry, which could hinder overall innovation in the country.

There is also a 7 percent VAT charged on all cryptocurrency trades in the country, which for would-be blockchain entrepreneurs and companies seeking to have digital money as part of their business model is very off-putting.

Subject to Change

With that said, it’s somewhat important to note that the Thai legislation is still in its infantile stages. Since 2014, France had laws in place that classified cryptocurrency profits as either industrial and commercial profits or non-commercial profits, which made them subject to an eye-watering 45% capital gains tax at the top end for residents in the highest tax bracket.

As of late April 2018, the French Council of State reclassified cryptocurrencies as “movable property.” This makes them akin to transportable assets such as vehicles, precious metals or intellectual property and brings the tax rate down to a flat 19%, which may be high but is still a definite advancement for blockchain industries and investors in France.

Asian Advancements

Other countries in Asia are also beginning to relieve crypto-tax pressures with nations such as the Philippines announcing a special economic zone for ten blockchain and virtual currency companies.

In Abu Dhabi, the Global Market’s Financial Services Authority released proposals for a “fit-for-purpose” regulatory and taxation framework. In a statement, Richard Teng Chief Executive of the Financial Services Regulatory Authority (FRSA), regulator of the Abu Dhabi Global Market (ADGM) said:

“The FSRA is seeking to instill proper governance, oversight, and transparency over crypto asset activities,” Adding further, he said, “Our proposed regulatory regime is only possible with our deep understanding and knowledge of the solutions available to address the respective risks and represents the most comprehensive regime proposed by global regulators so far.”

South Korea, Japan, and China are also making similar headlines with regulatory and tax reforms that can only serve positively towards the future of cryptocurrencies and blockchain technology.

In Thailand, it is still early days and should the new tax laws prove too high for the country; there is a chance that the state will follow up on the original policies with further amendments, just like many other crypto-adopting societies in the world.

 

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Image source: Pixabay (Marla66, CC0 License)

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Here’s Why Blockchain Companies Are Moving Away from ICOs

moving away from icosICOs have gotten a bad name. And given the fact that we’re constantly hearing about scams and illicit dealings, it isn’t hard to see why. Then there are the well-intentioned ideas that don’t make it to the first line of code, and the omnipresent threat of the SEC hovering like a black cloud. The ground is starting to shift, and many blockchain companies are moving away from ICOs and toward regulated security token offerings, otherwise known as STOs. What Are Security Token Offerings (STOs)? Just when you’ve gotten your head around ICOs, you have a new acronym to learn: Security Token

moving away from icos

ICOs have gotten a bad name. And given the fact that we’re constantly hearing about scams and illicit dealings, it isn’t hard to see why. Then there are the well-intentioned ideas that don’t make it to the first line of code, and the omnipresent threat of the SEC hovering like a black cloud.

The ground is starting to shift, and many blockchain companies are moving away from ICOs and toward regulated security token offerings, otherwise known as STOs.

What Are Security Token Offerings (STOs)?

Just when you’ve gotten your head around ICOs, you have a new acronym to learn: Security Token Offerings (STOs). These are regulated offerings in which the issuer sells programmable equity to investors.

Darren Marble, CEO of CrowdfundX, a fintech company that markets Reg A+ IPOs and compliant ICOs (most notably KodakCoin), has a few words of advice on the subject.

“The SEC has made clear that, at the moment, all ICOs they have seen appear to be securities. This has led to a movement in the US towards Security Token Offerings, STOs. At some point in the near future, security tokens will trade on regulated secondary exchanges such as tZERO, Coinlist, or even NASDAQ.”

STOs are seen as more stable and legitimate than ICOs, as they can provide investors reassurance from the get-go that they won’t run into problems down the line.

Marble says, “STO issuers have several available securities exemptions at their disposal… Each has its pros and cons, and it’s important for issuers to understand the differences between each exemption.” Since most blockchain companies are not experts in this field, they’ll need a little help.

How to Embark on an STO

1. Seek Legal Advice

Any blockchain company looking to embark on an STO should first seek the services of a qualified securities attorney. “Preferably one that straddles both traditional markets and crypto,” Marble advises. One of the biggest requirements is that a Form 1-A must be filed with the SEC. This is a process that takes 60 days to complete, plus another 60 to 75 days to be qualified by the SEC.

2. Get Your Books in Order

Embarking on an STO is significantly harder than creating an ICO, giving it even more weight and likelihood that the project behind it is solid. To get started, a company needs to have their books in order. A Reg A+, for example, requires two years of audited financials.

3. Find an Underwriter

Once your paperwork is up to speed, you need to get an underwriter. “Many startup hopefuls think a coin or token will help raise all the capital needed to hit the ground running. Reality check: you’re not going to raise $10 million for a highly technical blockchain company without the help of an underwriter or investment bank,” Marble says.

He continues, “Issuers that sell unregistered securities in the US may be subject to fines, suspensions, or be forced to conduct a rescission offer, which means rescind a transaction in which a securities violation occurred (not fun). In a worst-case scenario, issuers who knowingly violate federal securities may face jail time.”

The Takeaway

It’s been a fun ride for a lot of ICO teams, but the dust is starting to settle. Getting rapped on the knuckles is one thing; spending time behind bars is quite another.

While STOs come with additional layers of complexity in terms of paperwork, regulation, and processes, it’s likely that more blockchain companies will head down this path in the months ahead.