Jan 19

Cryptocurrency is Changing Lives in South Korea

Continuing on cryptocurrcies in South Korea, to a look at this from Kevin Helms of Bitcoin News.

 

Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks

South Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year.

Banks Earned 36x More From Crypto Accounts

Commission Income From Crypto Accounts Jumped 36 Times for South Korean BanksThe Korean Financial Supervisory Service (FSS) has obtained data from banks relating to their virtual account services to crypto exchanges. It includes data from the six banks inspected by the regulators last week: Woori Bank, KB Kookmin Bank, Shinhan Bank, Nonghyup Bank, Korea Development Bank, and Industrial Bank of Korea.

 

 

 

 

 

The rest of the story.

Jan 19

Cryptocurrency in South Korea

Cryptocurrency is very popular in South Korea and lives are changing.  Take a look at this article by JP Buntinx of The Merkle.

Nearly 2M South Koreans Used Mobile Crypto Apps Last Week

TheMerkle South Korea Cryptocurrency Apps

Over the past few months, South Korea has become one of the world’s biggest cryptocurrency hubs. Local exchanges generate billions in volume every single day, divided among the top and smaller cryptocurrencies. Even though the government is looking to curb cryptocurrency trading, the general population is not too bothered. A new study shows that close to two million South Koreans use cryptocurrency apps right now.

Read the rest of the story.

Jan 18

New Bitcoin Mining Facility in Virginia Beach

Virginia Beach has always been called a place for lovers.  Now it’s becoming a hotbed if Bitcoin activity.

I just read this article by C. Edward Kelso of Bitcoin News.

Virginia Beach, Virginia isn’t exactly known as a hotbed of bitcoin mining activity, but that appears to be changing, and soon. A local company has sunk 65 million USD into a giant facility, as the resort town attempts to become a hub for data centers.

New US $65 Million Bitcoin Mining Facility is Among Largest Data Centers in North America

65 Million USD Mining Facility is Nearly Completed

It almost wasn’t to be. Local firm Bcause, LLC was actually looking to plunk down their 65 million dollars elsewhere. And then its hometown, Virginia Beach, Virginia cut business property taxes for data centers at the end of last year, according to The Virginian-Pilot online newspaper. The city’s Director of Economic Development, Warren Harris, told the paper, “We’re poised to be a hub for data centers. To reduce that tax has put us in a very, very competitive position.”

Read the rest of the story.

Jan 08

What’s Ahead For Bitcoin In 2018?

No one can predict the future.  We can only speculate on the basis of past results.  Let’s take a look at this article by Darryn Pollock of Cointelegraph News.

What Does the Futures Hold for Bitcoin in 2018?

Predicting is a big part in cryptocurrencies, especially when it comes to prices, but in this volatile market it is not only the price that can see-saw, all kinds of occurrences are affecting this burgeoning market.

This has led to people to speculate already what 2018 will hold for the cryptocurrency world. 2017 was definitely a massive platform on which a sturdy foundation was built for this market, but what does 2018 hold?

1. Bitcoin will still be king

As Bitcoin peaked to $20,000 just before Christmas last year, it was unstoppable in both its growth and dominance, but since then it has dropped away in both respects as altcoin seasoned opened up the new year.

The original cryptocurrency saw its dominance fall to below 33 percent as others such as Ripple, Stellar and Tron have snatched some of the overall market cap.

However, already on the comeback trail, the belief is that Bitcoin will still be the market leader through 2018.

The rest of the story

Jan 04

Body Heat Mining

I have just read this interesting article by Jamie Redman of Bitcoin News and am very excited to share it with you.

It’s fascinating!

These Dutch Researchers Are Mining Cryptocurrencies With Body Heat

Cryptocurrencies may be bringing us closer to a world of singularity and the Matrix more than we can imagine. One experiment designed by Manuel Beltrán aims to bring humans closer to this world by using human-powered energy to mine digital assets. The Dutch-based research and development team called the Institute of Human Obsolescence led by Beltrán is mining cryptocurrencies with a special bodysuit that harvests human body heat into a sustainable energy source.

Mining Cryptocurrencies With Human Body Heat

Manuel Beltrán, the founder of the Institute of Human Obsolescence (IoHO), is challenging the idea that technology cannot be sustained by our current resources, because he believes one supply — the human body — is very abundant. The institute has been running various operations that consist of researching and developing ‘biological labor’, with the current project tethered to mining cryptocurrencies. The most recent tests comprised of roughly 212 hours between many shifts and 37 workers participated in the experiment.

Read the rest of the story

 

Jan 02

2017 Brought Bitcoin to Business

I believe Bitcoin really hit main stream in 2017 and businesses started getting on board. Adding Bitcoin to the futures market and the NYSE caused a huge rise in it’s value.  Bitcoin could no longer be ignored as you will read in the following article by

Bitcoin Adoption by Businesses in 2017

Bitcoin Adoption by Businesses in 2017

2017 was a big year for Bitcoin. CBOE launched the first Bitcoin futures market, the NYSE filed for two Bitcoin ETF’s, and Bitcoin price rose over 1,300 percent. In 2017, Bitcoin became too big to ignore, as Bitcoin became more valuable, there were sizable increases in the amount of brick and mortars that accepted Bitcoin all over the world. Let’s take a look at the data.

Q1/17: Slight growth – 5.5%

According to Coinmap.org, on Jan. 3, 2017,  8,207 brick and mortar businesses accepted Bitcoin as a payment method for their goods and services.  On March 28, 2017, three days before the end of the first quarter, 8,665 businesses accepted Bitcoin. For the first three months of 2017, there was a 5.58 percent increase in Bitcoin accepting businesses.

You can read the rest of the story here.

Jan 01

Tax Time Cometh…

It’s time to start thinking about the tax man.  The IRS says Cryptocurrency is property and must be taxed.  Here is an article that may help to clear some of the confusion.

Ten Tax Tips for Cryptocurrency: Expert Blog

Ten Tax Tips for Cryptocurrency: Expert Blog

1.  Remember, it’s property.

You might not agree with the IRS, but the tax man says cryptocurrency is property. The IRS made this clear in Notice 2014-21. Cryptocurrency isn’t foreign currency, and it isn’t domestic currency, regardless of how you use it. That means every time you transfer it, you might trigger gain or loss. That means taxes.

2.  Barter is old-fashioned, but the IRS gets a piece.

These are old rules, and cryptocurrency hasn’t changed them. Property trades are taxed to both sides, even if one party just wants credit for later. Swapping one product or service for another is taxable, as the IRS explains at its Bartering Tax Center. Earning trade or barter dollars through a barter exchange is also taxable income, just as if your product or service was sold for cash. Plumbing for dental work? The IRS taxes it. You name the swap, it’s income to both sides. Both must report the fair market value of goods or services received on their tax returns.

Read the rest of the story.

Dec 31

Looking forward to 2018

Happy New Year!

I will be back on January 2, 2018 with daily news on Bitcoin and other Cryptocoins.

Dec 16

$1,000 Surge in Just a Day!

Wow!  Since Bitcoin futures stated trading, Bitcoin value is rising higher and higher with a $1,000 surge in just a day. This is amazing news for all of us investors.

Bitcoin Price Gear Towards $19,000, Surges by $1,000 in a Single Day

Joseph Young on 16/12/2017
The bitcoin price has increased by more than $1,000 over the past 24 hours and is en route to surpassing the $19,000 mark.

Bitcoin Second Most Popular Keyword on Google in 2017

Google, the world’s most widely utilized search engine, has revealed that bitcoin has been the second most popular keyword on its platform throughout 2017.

As the demand for bitcoin from both casual investors and retail traders increased over the past 12 months, the popularity of bitcoin on search engines and social media platforms surged proportionally.

While the recent surge in the price of bitcoin can be attributed to a variety of factors, the two driving factors of the rise in bitcoin price have likely been the global finance market’s anticipation of CME’s scheduled listing of bitcoin futures on December 18 and the strong performance of alternative cryptocurrencies within the past week.

Read the rest of the story.

 

Dec 14

Do you have the right Apps on your phone?

If you’re serious about your Bitcoins, you really need to read this article by Kai Sedgwick from Bitcoin.com.

10 Bitcoin Apps That Everyone Should Have

Owning a smartphone, like owning bitcoin, is obligatory these days. All the cool kids are doing it, along with all the uncool kids who were hodling hard back when bitcoin was ripe for mockery. Not any more. Whether you’re a bitcoin veteran or are new enough to believe HODL means Hold On for Dear Life, you might find something interesting in this list of 10 great cryptocurrency apps.

Blockfolio

The go-to portfolio checker for pretty much everyone, Blockfolio is clean and simple. You need to enter your cryptocurrency holdings manually, so it’s not great for day traders who are jumping from coin to coin. For everyone else though, Blockfolio lets you set and forget. Setting’s easy; forgetting the urge to refresh your portfolio every 30 seconds is a lot harder. Get it on Android and iPhone.

Read the rest of the story at Bitcoin News

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