Events Investing Op Ed Regulation Technical week in review

Bitcoin Magazine Week in Review


Bitcoin Magazine’s Week in Review brings you essentially the most crucial, fascinating and well-liked information tales affecting Bitcoin this week.

Despite Setback in Ohio, Tax Payments in Bitcoin a Viable Trend

Ohio made a giant splash within the cryptocurrency group in November 2018 when Josh Mandel, the state treasurer on the time, introduced a plan to permit companies to settle their tax payments in bitcoin. However, we’ve all come to be taught that pleasure over the launch of a venture doesn’t notably equate to its success. 

Ultimately, the state introduced that it might be suspending the service in October 2019. Despite the failure of this program that was attributable to dwindling adoption, we peek into the longer term to see how the applying of bitcoin for tax funds might finally play out. For occasion, cities in Canada and within the U.S. are working in a number of tax initiatives, which might improve the adoption of cryptocurrencies.

Op Ed: How to Understand Taxable Events for Cryptocurrency

The concern of cryptocurrencies and taxes was additionally the main target of a call by the Internal Revenue Service (IRS) to launch up to date steering on the taxation implications of cryptocurrency laborious forks and airdrops. 

While many criticized the authorized steering as an exhibition of simply how a lot the IRS doesn’t perceive about cryptocurrency, there has additionally been the dialogue of what might represent “taxable occasions” within the cryptocurrency parlance. In a latest op ed, Alon Muroch, the co-founder and chief government of crypto administration service Blox, sheds extra gentle on simply what taxable occasions are. 

Bitcoin as a Savings Technology: Are Interest Accounts Worth the Trade-Offs?

Bitcoin has grown through the years to turn out to be a good portion of traders’ wallets, however is it a part of their financial savings plan? 

For skeptics, the world’s hottest digital asset shouldn’t be viable sufficient to be held in the long run. A latest article examines the dynamics of bitcoin as a financial savings mechanism, in addition to how corporations like BlockFi have been capable of harness its potential to behave as a retailer of worth and convey this service to shoppers. 

Signet Could Give Bitcoin a More Stable, Predictable Testnet Option

When constructing out functions and different technical merchandise, there’s a necessity to hold out exams in a sandbox atmosphere and bitcoin isn’t any completely different.

Bitcoin builders typically want to hold out exams on the community and simulate developments. That is precisely what the Bitcoin testnet does; present an atmosphere for builders to work, whereas additionally guaranteeing that their actions haven’t any impact on the actual world or the asset itself. Signet, nonetheless, is bringing a whole revolution to Bitcoin testnet. Signet is predicated on complete consensus centralization. It gives extra management to builders by a devoted group with the facility to create new blocks utilizing legitimate signatures.

Transylvania Crypto Conference 2019: The Transition to Bitcoin-Only

The Transylvania Crypto Conference (TCConf) 2019 was a landmark occasion for cryptocurrency in additional methods than one. 

Perhaps essentially the most vital of these was the truth that organizers stored their deal with Bitcoin. In this piece, we offer you a firsthand account of the happenings on the convention. The convention, which was held in Romania, featured well-liked cryptocurrency figures similar to Blockstream’s Adam Back, researcher Wassim Alsindi and Bitcoin Core developer Peter Todd.

The put up Bitcoin Magazine Week in Review appeared first on Bitcoin Magazine.

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Cryptocurrency Exchange OKEx to Launch Options Trading This Month


Malta-based cryptocurrency change OKEx introduced that it’ll launch crypto choices buying and selling on Dec. 27.

In a press launch on Dec. 9, the change stated that the addition of choices makes OKEx the “first crypto change to supply C2C, spot, futures, perpetual swap, and choices buying and selling underneath the identical roof.” 

The choices will enable the platform’s customers to purchase or promote an underlying asset after paying a premium. While actual choices buying and selling will start on Dec. 27, simulated buying and selling is scheduled to start out in simply three days, on Dec. 12.

A significant improve for OKEx

To implement choices, the agency reportedly upgraded its complete system and infrastructure, together with the addition of an anti-price manipulation system.

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Ethereum Developers Are Creating a Revolutionary Open Financial System: Report



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“The present monetary system is comprised of walled gardens with restricted transferability or two-way entry. Where interoperability is feasible, it’s managed by middlemen and rent-seekers. Open finance is outlined by platforms that may work along with a level of transparency with capabilities that complement each other.”

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No More Bitcoin for Nordea Bank Employees, Experts Question the Motive


An act of paternalism or a case of generic Bitcoin (BTC) mistrust? It is tough to make out the precise causes for Nordea Bank’s ban on its 31,500 staff buying and selling in Bitcoin or different cryptocurrencies — even on their very own time — a prohibition that was upheld on Dec. 2 by a Danish courtroom.

In a press launch posted by the courtroom following its ruling, Nordea Bank famous that, “Employees are permitted to maintain any current [crypto] holdings,” although it added that they had been inspired to promote them.

As reported by Cointelegraph, Denmark’s finance trade union, Finansforbundet, introduced a class-action lawsuit in opposition to Nordea’s cryptocurrency prohibition in 2018 on the grounds that the ban interfered with staff’ private lives. It seems that the financial institution, the biggest monetary group within the Nordic international locations (Denmark, Finland, Iceland, Norway…

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Sorry — But Bitcoin Can Still Drop to $2.7K While Everyone’s Bullish


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Ethereum Istanbul Hard Fork Get Support From Major Crypto Exchanges


Following the profitable Ethereum Istanbul laborious fork replace, a number of in style exchanges have introduced their official assist for the community improve.

Yesterday, on Dec. 7, the Ethereum’s community noticed ample collaboration between node operators and miners to replace the software program to assist the Istanbul laborious fork.

Some crypto exchanges even sounded their willingness to replace just a few days previous to the scheduled laborious fork.

A extensively supported laborious fork

Notably, Binance introduced assist for the improve on Dec. 5 and the day afterwards its U.S. subsidiary did the identical. Coinbase additionally tweeted yesterday that Ethereum and ERC20 deposits and withdrawals have been resumed on its buying and selling platforms and the node improve has been accomplished.

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Millennials Opting for Bitcoin Investment Over Netflix and Disney, Reports Charles Schwab



Millennials would fairly have publicity to Bitcoin than spend money on Netflix or Disney, in line with the lastest evaluation from Charles Schwab.

A brand new report from the funding large exhibits Millennials are opting to purchase Grayscale’s Bitcoin Trust, which is backed by BTC, as a substitute of shares of Microsoft, Walt Disney, Netflix or Warren Buffett’s Berkshire Hathaway.

The report additionally exhibits Millennials specifically are allocating a bigger portion of their funding portfolios to money and exchange-traded-funds (ETFs) in comparison with different buyers.

Mutual funds and Apple shares proceed to make up the most important holding within the accounts of all age teams, Charles Schwab reveals. 

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