The cryptoconomy means many things to many people. For example, since the inception of Bitcoin in 2009, some individuals have used digital currencies as a form of agorism otherwise known as counter-economics. These people believe that using bitcoin as a tool to avoid state harassment is one of the technology’s key features with the potential to reduce the manipulation and civil abuses perpetrated by government bureaucracy.
Treasurer in the U.S. state of Ohio Robert Sprague has revealed that at least two companies have paid their taxes using bitcoin since the state launched its cryptocurrency payment platform in December. Sprague did not disclose details pertaining to the amount or companies involved, citing confidentiality.
State to Review BTC Tax Payments
Speaking at a forum organised by the Ohio State Associated Press on Feb. 19, Republican politician Robert Sprague said: “We’re reviewing how [the program] might be either curtailed or might be expanded, and what our counter-party risk is with that vendor.”
A new report published this week shines a light on the stablecoin ecosystem. Authored by George Samman and Andrew Masanto in conjunction with Amazix, the report traces the rise of digital currencies against a backdrop of high inflation in 16 countries. The report claims these conditions will create a need for fiat-pegged digital currencies that aren’t beholden to the volatility of local currency in inflation-hit nations.
Last December, it was revealed that blockchain-based collectibles game Blockchain Cuties was planning to integrate the TRON (TRX) network, sparking further interest in the game that already supported Ethereum (ETH) and EOS (EOS). The move made sense, as TRON recently revealed a massive $ 100 million blockchain gaming development fund designed to spur game development on the TRON network. Since that time, […]
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Benjamin “DrLupo” Lupo, a Twitch streamer known globally for his Fortnite play, has become the first streamer and esports athlete to be sponsored by insurance giant State Farm. #ad I’m so excited to share that I’ll be working with @Statefarm. They’re a company that my family has counted on for many years to keep our […]
As U.S-imposed sanctions continue to cripple Iran economically, the Islamic state is reportedly on the verge of announcing its state-backed cryptocurrency. The ability of Iranian financial institutions to conduct transactions and relate with the rest of the world has been shackled since the sanctions were enforced and many believe the Iranian cryptocurrency will help abate some of the effects of the sanctions. To further stoke the rumor fires, it has been reported that the Iranian government expects to make an announcement concerning the digital asset at the annual Electronic Banking and Payment Systems Conference, which kicks off in Tehran on January
The “instant payments” network running atop bitcoin saw fast user adoption levels in 2018. Will the trend continue this year?
Donald Trump’s big announcement Saturday wouldn’t be the first time the word “compromise” was used as a euphemism for the government. Stealing even more of your money to pay for both big corporate political parties’ wish lists and all their friends and corporate sponsors. The big compromise is: Donald Trump gets to spend five billion
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As tax season is rapidly approaching, some states, like Ohio, have decided to set a new standard for the rest of the country to follow. Back in November, Ohio became the first state in the U.S. to announce that it would now be possible to pay taxes using bitcoin.
While Ohio is first in actually implementing this for its business residents, it’s certainly not the first one to try. Other U.S. states, like Illinois, Arizona, and Georgia have previously attempted to pass legislation allowing state taxes to be paid with cryptocurrency; however, such attempts have been rejected by state lawmakers or have not yet taken final form.
Michael Williams, a state Senator from Georgia, has turned himself over to authorities after he was accused of insurance fraud. Williams, who co-introduced the Senate Bill 464—which aimed to compel the state’s revenue authority to receive cryptocurrency as payments for taxes—was charged by a Hall County grand jury on December 18 after an investigation
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Bakkt, a cryptocurrency exchange and liquidity provider created by the New York Stock Exchange’s parent company ICE has raised $ 182.5 million from a group of high profile investors and venture capital firms. On December 31, on New Year’s Eve, Bakkt CEO Kelly Loeffler announced that Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch
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Social blockchain platform Steem, home to the Steemit social network, has been added to dApp (decentralized application) tracking website stateofthedapps.com and now sits proudly next to Ethereum, EOS, and POA, on the site’s “Rankings by Platform” page. And we got fancy #Steem statistics as well 🧐 pic.twitter.com/cK3BmEMK3u — State of the DApps (@StateOfTheDApps) December 17,
Insurance is one of the golden geese of the blockchain, an industry with so much paperwork, sensitive data, and manual processes that it almost seems obvious that it will eventually adopt blockchain technology to streamline its claims processes, data storage, and even — eventually — its payments. State Farm is among the first notable insurance
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Residents of the 6th most populous U.S. state, Illinois, can now access the cryptocurrency trading services of Robinhood. In a tweeted statement, the trading app disclosed that Robinhood Crypto was now available in the prairie state, making it the 29th state in the U.S. to get the commission-free round-the-clock trading service. Trade winds are blowing
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In today’s edition of Chatter Report, crypto influencers debate the importance of buy walls to support crypto prices, reason for and against miner anonymity and ponder the outcome of governments attacking bitcoin.
Hodlers of Last Resort and Buy Walls
Early bitcoin adopter and investor in Kraken, Trace Mayer, argues that crypto market capitalizations are important, but not as important as the hodlers of last resort and “buy support.” Mayer reasons that the combination of investors who don’t panic sell their coins and buy orders that are reflected in order books are what keep crypto prices from sliding further down.