“Everybody’s poor” in oil-rich Venezuela, and US President Donald Trump’s top economic adviser claims he knows the answer: excessive taxes on the South American nation’s wealthiest citizens. With high-profile Democrats such as Rep. Alexandria Ocasio-Cortez clamoring to raise income tax rates as high as 70%, Larry Kudlow is warning that the US could see a similar “catastrophe.” Venezuela is a “Catastrophe” Because of High Tax Rate Kudlow says the “old saw” of higher taxes on the wealthy from America’s political left “never works.” The former CNBC host says he doesn’t know how such proposals will pan out, but he’s already
The bitcoin price on Wednesday recovered as much as 2.45 percent after reports indicated that Fidelity would launch its crypto custody service as soon as March. Fidelity Crypto Launch Brings out the Bulls At 18:00 UTC, the bitcoin-US dollar exchange rate (BTC/USD) was trading at $ 3,443 on crypto exchange Coinbase, down 0.6 percent from its intraday high at $ 3,459. Earlier today, the market had opened at a lower rate at $ 3,337 during the Asian session, while trending lower inside a descending channel formation. The positive sentiment kicked in after Fidelity Investments, a renowned capital management firm, announced that it would launch
The bitcoin price on Tuesday continued to pursue its downward trajectory, albeit finding decent support at one of the downside targets. The climate is not favorable for establishing long-term positions, but a few well-timed day trades can help you make the most out of the market’s recent bearish turn. Bitcoin Price Not Favorable for Long-Term Trades BTC/USD opened the Asian trading hours at $ 3,433, down 0.43 percent from yesterday’s high. The pair fell as much as 2.87 percent as the session matured. It established an intraday low at $ 3,337 before correcting higher during the European trading session. As of 19:00
According to an estimate by recycling and waste management company Covanta Holding Corporation, Americans literally throw away $ 62 million dollars a year worth of spare pocket change. Covanta offered CBS News a theory along with the estimate “that the coins are probably tossed accidentally.” Coinstar to Sell Bitcoin for Pocket Change at US Grocery Stores
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Tilray’s share price plummeted today on the expiry of its IPO lock-up period. But is the sell-off investors exiting cannabis stocks? Or, is it as simple as Tilray “insiders” cashing in their profits? Tilray’s stock lost 17.24% by the end of trading on the Nasdaq today, wiping out recent day’s gains. With its IPO, Tilray
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At the Israel Bitcoin Summit at Tel Aviv University on Jan. 8, veteran cryptographer Nick Szabo explained that the use of censorship-resistant cryptocurrencies will rise in countries sanctioned from trade and economies suffering from failed monetary planning. Szabo also argued that the world’s central banks might turn to cryptocurrency reserves in the future in order to supplement national gold reserves.
According to a new paper published in a peer-reviewed scientific journal, researchers in China have made a groundbreaking discovery that could profoundly impact the face of the precious metals landscape — and provide bitcoin with an opportunity to shine. Scientists Turn Copper into Substance ‘Almost Identical’ to Gold Per SCMP, a team of scientists at
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Stranded Iranian students in the United Kingdom have turned to Bitcoin as a tool to circumvent the economic sanctions placed on their country, according to a Guardian report. Parsa Sadat, a law student at the University of Reading, is among a bevy of Iranian students who can’t pay their tuition fees and are completely stranded at school after Iran was hit with sanctions by U.S. President Donald Trump last month.
Shares of the American multinational semiconductor company AMD have plummeted amid lackluster sales of blockchain-related products. The firm revealed in its quarterly report that blockchain-related GPU sales were “negligible.”
Revenue Drops, Stock Price Follows
Per the quarterly report published October 24, AMD has recorded a revenue of $ 1.65 billion for the third quarter of 2018. This marks a 4 percent increase compared to last year’s results but it’s down 6 percent from the previous quarter.
According to the chief executive of the company Lisa Su, the graphics channel sales were lower throughout the quarter, hence the reduced revenue:
Iceland has long been a prominent hub of bitcoin mining due to 98% of its electricity coming from renewable geothermal energy and a cold climate favoring mining farms which must be kept cool can run massive air conditioning bills in warmer areas. The power usage effectiveness (PUE) of the country is as low as 1.03,
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With trading volumes a whopping 80% lower than their January peak, some of the biggest trading exchanges are implementing controversial practices to stay profitable.
Exchange Listing Fees: Pay to Play
From the ‘stick’ of listing fees to encouraging ‘carrots’, the crypto exchanges are finding ways to get their money.
Exchanges such as Binance (the world’s largest by trading volume) and KuCoin, have implemented a system of variable listing fees. They both claim that the listing fee is based on the credibility of a project. Binance CEO, ChangPeng Zhao, famously remarked that “we don’t list shitcoins” even if they paid 4,000 BTC.
Bitcoin is flashing bullish signs. In light of the September 30 SEC decision on the VanEck/ SolidX Bitcoin-ETF, a growing number of experts forecast that November will mark a final turnaround in cryptocurrency prices.
Bitcoin price has literally been all over the place, and the last two months have seen it pinned between $ 6,000 to $ 8,000. Often times, speculation drives investor decisions and market sentiments in the world of cryptocurrency. It’s safe to say that right now a large number of investors have their fingers crossed in hopes of the U.S. Security and Exchange Commission (SEC) approving a Bitcoin Exchange Traded Fund (ETF) sooner than later.
Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes and therefore save you money. This article addresses how to handle your losses and the important items that you need to keep in mind for your crypto taxes in the US. Losses on crypto and Bitcoin trades offset
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Taiwanese Congressman Jason Hsu is on a mission to turn the island nation into a hub for blockchain tech and cryptocurrency.
Jason Hsu, the man dubbed the ‘Crypto Congressman’ by Ethereum founder Vitalik Buterin, is on a mission to turn Taiwan into a technological powerhouse, specifically in the fields of virtual currency and blockchain.
Since becoming an official Member of Parliament in 2016, Hsu has worked to foster initiatives concerning autonomous vehicles, cybersecurity, and the digital economy — all in an effort to help close the gap between public policy and technology.
The Turkish Lira value took a huge hit today, bringing the currency down 13% for the day and more than 45% for the year.
Fiat Vs. Bitcoin
Today the value of the Turkish Lira sank almost 16% before slightly retracing to 0.155 TRY/USD, currently a 13% loss for the day.
This brings the value of the Turkish Lira down more than 45% from this time one year ago.
Bitcoin enthusiasts took to Reddit to claim another victory in its performance against national fiat currencies, with one user claiming “Holding Bitcoin is less risky than holding Lira.”
The founder of non-profit Wikipedia Jimmy Wales said that they have absolutely no interest in launching an Initial Coin Offering (ICO), or turning to cryptocurrencies in general.
Jimmy Wales, founder of the popular free online encyclopedia, expressed his utter reservation towards the field of cryptocurrencies. When asked about whether Wikipedia even considers cryptocurrencies or the launch of a potential ICO, he said that they are “absolutely never going to do that.”
Cryptocurrency markets are always interesting creatures. Their movements often make little to no sense, even though there are some general patterns which become apparent more often than not. It appears there may be some positive momentum later today, even though the EOS price is still struggling a bit as of right now.
EOS Price Faces an Uphill Battle
It is evident all cryptocurrencies heavily rely on Bitcoin’s momentum to note any real gains. In the case of EOS, the current momentum is not looking all that promising. Although this is also affecting all other cryptocurrencies on the market, the EOS price is often a strong indicator of how all other cryptocurrencies will evolve in the coming hours.
Felix Hufeld, chief of the German Financial Supervisory Authority (BaFin), the government’s main financial agency, stated in a speech at a conference held in Berlin that blockchain technology has the potential to turn the traditional finance industry upside down.
Optimistic Long-Term Vision
Despite the recent correction of the cryptocurrency market and the drop in the values of major digital assets like Bitcoin and Ethereum, Hufeld emphasized that the capability of the blockchain in powering decentralized applications “could actually be revolutionary” and added that the elimination of single points of failure allow blockchains to operate as secure and transparent financial networks.
The New York City premiere for the forthcoming blockchain book “The Truth Machine,” drew a set of high-profile stars this week.
Bitcoin’s bear market got you feeling blue? Well, cheer up! Dan Morehead, the founder and CEO of Pantera Capital, thinks the best is yet to come.
The Bear Cycle Is Coming to an End
Dan Morehead, the founder and CEO of Pantera Capital, went on CNBC’s Fast Money earlier this week, where he made some seriously bullish statements about Bitcoin and the cryptocurrency market as a whole.
Despite Bitcoin’s recent and sharp correction, Morehead thinks everything is ultimately right on track. Using history as an indicator, he claims Bitcoin’s severe drop in price is actually totally normal. Additionally, he predicts Bitcoin will start rising in the next couple of weeks, explaining: