Tuesday, May 22, 2018

Crypto Micro Investment App Launches in Melbourne

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BTA Summit | Ruff Founder Roy Li: Application Practice of Blockchain Technology at the Enterprise Level

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Verv to Enable Consumers to Monetise Their Energy Data, Partners with Data Sharing Ecosystem Ocean Protocol

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Digital Insurance Provider on Blockchain, Black Insurance Ropes in Professor Alex Norta as the Scientific Advisor

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Benchmark to Join the Bancor Network

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HMS Focusing on Creating a Better World Based on Blockchain: Announcing Their All New Product and Technology

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Crypto Investment Manager Touts 3 Catalysts for Bitcoin Cash Bull Run

Cryptocurrency portfolio manager Brian Kelly has been touting Bitcoin Cash for weeks, and now he’s doubling down on his bullish call. Bitcoin Cash outperformed other leading digital currencies, the latter of which have taken it on the chin in recent weeks. The Bitcoin Cash price advanced 6% over the last month compared to declines of

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Cryptfunder Announces Upcoming Blockchain Start-Up Incubator and Token Sale

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ARAW Token – Announce Their Decentralised Payment & E-Commerce Platform

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It’s Time for Smart Valley: 10 Interesting Facts about the Digital Silicon Valley

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TrakInvest to Build Its App on Hedera Hashgraph Next Generation Distributed Ledger Technology

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Australia’s Prime Minister Ordered Blockchain Research Push, Gov’t Agency Says

Efforts to study the benefits of introducing the Australian government to blockchain were partly a personal request from the prime minister.

Australia’s $530,000 blockchain research push this year came as a result of a specific request by Prime Minister Malcolm Turnbull, reports reveal Tuesday, May 22.

According to local news outlet ITNews, which quotes government officials, Turnbull had explicitly asked the country’s Digital Transformation Agency (DTA) – a body tasked with bringing government services into the digital age – to study blockchain.

“The Prime Minister in fact wrote to our minister [assistant minister for digital transformation Michael Keenan] and asked us to have a look at blockchain, which evolved into this particular piece of work,” DTA chief digital officer Peter Alexander said.

Alexander was referencing the agency’s $700,000 AUD ($530,000) budget award for the year 2018-19, specifically dedicated to the technology.

“The Government will provide $0.7 million in 2018-19 for the Digital Transformation Agency to investigate areas where blockchain technology could offer the most value for Government services,” the budget document states.

The DTA similarly confirmed the buzz around blockchain on Tuesday.

As Cointelegraph reported earlier this month, the move constitutes one of several focusing on how the government can best leverage blockchain’s advantages, including looking at trade supply chains.

“ASIC (the Australian Securities and Investments Commission) [was] looking at blockchain, Immigration – now Home Affairs – was looking at blockchain and considering it, and more agencies were talking about it,” Alexander said, adding:

“Lots of vendors were [also] coming to government and talking about blockchain.”



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Privacy Coin Verge Succumbs to 51% Attack [Again]

Privacy-centric cryptocurrency Verge (XVG) appears to have succumbed to a 51 percent attack for the second time since the beginning of April. According to data published on BitcoinTalk by forum user ocminer — operator of altcoin mining pool Suprnova — an attacker appears to have successfully forked the Verge blockchain through a 51 percent attack.

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UK 'Cryptoassets' Task Force Plots Path Forward at First Meeting

The U.K.’s new Cryptoassets Taskforce has taken the first step on its mission to "develop thinking and policy" around blockchain and cryptocurrency.

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Circle Adds 'Buy the Market' Feature to Its Crypto Investment App

Circle Invest formally launched the startup's trading platform on Tuesday.

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Debunking $5 Trillion Vanguard’s Illogical Arguements of Bitcoin Price Going to Zero

Following the footsteps of Tim Buckley, the CEO at Vanguard, an investment firm that oversees $5.1 trillion in assets, the company’s chief economist Joe Davis stated that he sees the price of bitcoin dropping to zero in the long-term. Argument 1: No Viable Use Case The core argument Davis offered on his ETF.com opinion piece

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Mitsubishi, MUFG Conduct Successful Pilot Payment With Major Thai Bank’s Blockchain

The Mitsubishi Group has successfully completed a pilot sending money from Thailand to Singapore using Thai Krungsri bank’s blockchain tech.

Several major global banks have successfully completed a cross-border payment pilot test using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger, according to a press release May 22.

The pilot, conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was executed by Japan’s Mitsubishi Group, their banking unit MUFG Bank, and the Standard Chartered Singapore bank.

The test involved sending money in a period of seconds from a Thailand-based Mitsubishi Group subsidiary to the Standard Chartered account of a Singapore-based Mitsubishi Group Subsidiary, using Kungsri’s Interledger tech.

Thakorn Piyapan, head of the Krungsri Consumer Group and the Digital Banking and Innovation Division, said of the pilot that the “technology-based transaction helps enhance their subsidiaries’ financial liquidity toward greater flexibility and efficiency.”

Krungsri is currently Thailand’s fifth largest bank by total assets.

Yesterday, the MUFG Bank – which is Japan’s largest bank, and the fifth largest bank in the world by total assets – announced that it had partnered with major U.S.-based cloud delivery platform Akamai Technologies for the release of a blockchain-based global payment network. MUFG Bank also reported last week that it plans to test its own cryptocurrency by 2019.

Last week, Thailand introduced a legal framework for cryptocurrencies, defining them as “digital assets and digital tokens” and bringing them under the regulatory umbrella of the Thai Security Exchange Commission (SEC). Yesterday, the Thai SEC clarified its approach to crypto-related businesses and fundraising through Initial Coin Offerings (ICO) in a live-streamed focus group.



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CFTC Issues Guidance for Firms Offering Cryptocurrency Derivatives

The U.S. Commodity Futures Trading Commission has released new guidance for companies issuing cryptocurrency derivatives products.

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Taiwan Eyes Blockchain Growth with New Parliamentary Alliance

Taiwanese lawmakers have announced the formation of a parliamentary group aimed to foster the nation's emerging blockchain sector.

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Happy Bitcoin Pizza Day!

Today, May 22, marks the eighth annual Bitcoin Pizza Day, commemorating an important milestone in the journey to mainstream bitcoin adoption. On this day in 2010, Florida-based programmer and early cryptocurrency enthusiast Laszlo Hanyecz enshrined his name in bitcoin lore by paying someone 10,000 bitcoins to order him two pizzas from his local Papa John’s … Continued

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Bitcoin Pizza Day 2018: Community Celebrates a Takeout Order Now Worth $82 mln

May 22 marks eight years since a Bitcoin user paid 10,000 BTC for two pizzas, worth just $41 at the time.

Bitcoin (BTC) users around the world are celebrating the eighth so-called “Bitcoin Pizza Day” today, May 22. With BTC prices circling $8,200, the price of one of the legendary pizzas purchased on this day in 2010 is now worth $41.4 mln.

Traditionally accompanied by various social media events, giveaways from cryptocurrency businesses and a considerable amount of pizza-eating, Bitcoin Pizza Day remembers May 22, 2010 – the first time a Bitcoin user purchased pizza with the cryptocurrency.

On that date, Bitcoin traded at around $0.004, making the two pizzas Laszlo Hanyecz ordered from Papa John’s for 10,000 BTC cost $41.

A ceremonial occurrence in Bitcoin’s history, Hanyecz’s fateful transaction has garnered more admiration than ridicule. Commentators later noted that without such pioneering usage, Bitcoin would not have scaled to the phenomenon it is in 2018.

“I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later,” Hanyecz wrote on Bitcointalk in 2010, attempting to find support for the transaction. The famous post continues:

“You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!”

Responses to the original post from November 2010 make for equally interesting reading, users asking Hanyecz what it felt like to eat pizza now worth $2,600 and wondering whether the order would ever become the “world's first million-dollar pizza.”

This year, meanwhile, community infographics accompany celebrations from crypto businesses, including exchange BTCC, which noted the sliding scale of expenditure on its annual pizza delivery.

French hardware wallet manufacturer Ledger meanwhile released a limited edition device in honor of the occasion.



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OPEN Announces Partnership with Kucoin

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. A significant number of OPEN fans and supporters were unable to participate in the private sale (to the tune of $250M+) and it was important for OPEN to … Continued

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Boston Stock Exchange Partners tZero to Launch Regulated Security Token Exchange

The operator of the Boston Stock Exchange has announced a partnership with Overstock subsidiary tZero to launch the world’s first regulated security token exchange. The joint venture, unveiled on Tuesday, will see tZero and Boston Stock Exchange company BOX Digital Markets develop a regulated venue that facilitates the trading of blockchain tokens that are classified … Continued

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‘Operation Crypto Sweep’: US and Canada Investigate 70 Cryptocurrency, ICO Scams

U.S. and Canadian regulators have opened about 70 investigations into cryptocurrency scams and fraudulent initial coin offerings as part of a wide-ranging, coordinated crackdown called “Operation Crypto Sweep.” The North American Securities Administrators Association (NASAA) said it has sent cease-and-desist letters to operators of what they believe are sham crypto companies in more than 40

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The Auto Industry Is Gearing Up for a Blockchain-Powered Future

Automotive executives are starting to wake up to the use cases of blockchain in the industry, but there's a way to go.

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He Paid How Much?! CoinDesk Releases 'Bitcoin Pizza Day' Price Tracker

How much did developer Laszlo Hanyecz pay in the first-ever retail bitcoin transaction? With CoinDesk's new tool, you never have to guess.

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Seoul Mayor Pledges Blockchain Boost in Re-Election Push

Seoul mayor Park Won-soon is pledging to focus on blockchain innovation as part of his campaign pitch for potential re-election this year.

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‘Operation Crypto Sweep’: US and Canada Investigate 70 Cryptocurrency Scams, Sham ICOs

U.S. and Canadian regulators have opened about 70 investigations into cryptocurrency scams and fraudulent initial coin offerings as part of a wide-ranging, coordinated crackdown called “Operation Crypto Sweep.” The North American Securities Administrators Association (NASAA) said it has sent cease-and-desist letters to operators of what they believe are sham crypto companies in more than 40

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Australian PM Turnbull Tells Government Agency to Study Blockchain

Australian prime minister Malcolm Turnbull, the country’s most powerful political official, has directed the government’s Digital Transformation Agency (DTA) to study potential applications of blockchain technology across government. Addressing a Senate Estimates committee on Monday night, DTA chief digital officer Peter Alexander revealed that PM Turnbull directly told the agency to explore blockchain applications after

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Exec of $5.1 Trln Investment Firm Makes Tired Comparison of Crypto to Tulips

An executive at Vanguard Investment has made the by now trite comparison of cryptocurrencies to tulips, while also noting his appreciation for blockchain tech.

The global chief economist of a major investment firm has criticized cryptocurrencies in an op-ed on investment fund news site ETF.com published yesterday, May 21.

Joe Davis, the global chief economist and global head of Vanguard Investment Strategy Group, stated that while blockchain technology shows promise, the rise of cryptocurrencies can be compared to the Netherlands’ 17th century “tulip mania,” a classic example of a bubble market.

Davis, whose firm manages a reported $5.1 trillion in assets globally as of this January, began the piece by remarking on his enthusiasm for blockchain technology – which he notes Vanguard uses – but adds that:

“As for bitcoin [sic] the currency? I see a decent probability that its price goes to zero.”

Davis then makes the arguably misleading comparison between cryptocurrency and 17th century Holland’s craze for tulips, pointing out the cryptocurrencies, “unlike tulips, [...] don’t look very nice in a vase.”

According to Davis, it is debatable whether cryptocurrencies are really currencies, since – according to him – they can be considered a unit of account and a medium exchange, but not a store of value:

“Even if cryptocurrencies qualify for niche purposes, their prospects seem dubious.”

Davis then writes that since cryptocurrencies create no cash flow or dividends, have prices based on speculation, are not connected to the value of blockchain technology, and make crypto investors lower their investments in traditional markets, “the investment case for bitcoin is hardly compelling,” continuing:

“Bitcoin is an investment in blockchain in the same way that Pets.com was an investment in the internet.”

In the fall of last year, Nasdaq wrote a piece on the five reasons why Bitcoin (BTC) was nothing like the tulip mania, writing that the growth of the leading cryptocurrency is “not a bubble.”

In fact, the breadth of the tulip mania itself has apparently been over exaggerated, with researcher Anne Goldgar writing in her book on the subject that “there weren’t that many people involved and the economic repercussions were pretty minor.”

After Wall Street mogul Warren Buffett also came out strongly against Bitcoin earlier this month, referring to it as “rat poison squared,” Cointelegraph published an Expert Take on why Wall Street will be left behind if it fails to invest in the promise of new technologies like blockchain.



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Bitcoin, Ethereum Prices Drop 3% in Sluggish Crypto Market: Factors and Trends

Over the past 24 hours, the valuation of the cryptocurrency market has dropped from $390 to $373 billion, by more than $17 billion. The bitcoin price dipped below $8,300 and the value of Ether, the native cryptocurrency of the Ethereum network, dropped to $690. Main Factors Behind the Cryptocurrency Market Slump The recent correction of

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US: CFTC Seeks to ‘Provide Regulatory Clarity’ for Listing Virtual Currency Derivatives

Two U.S. CFTC divisions have jointly issued a staff advisory about the key areas in listing a virtual currency derivative product.

The U.S. Commodity Futures Trading Commission (CFTC) has issued an advisory statement for listing virtual currency derivative products, according to a CFTC press release published yesterday, May 21. The advisory statement is aimed at providing clarity for exchanges and clearing houses.

The staff advisory, which was jointly issued by the CFTC’s Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR), focuses on the specific areas involved in listing virtual currency derivatives on a designated contract market or swap execution facility. It covers the necessity for more market surveillance, coordination with CFTC staff, large trader reporting, and DCO risk management and governance.

Amir Zaidi, the director of the DMO, said in the press release that “the CFTC staff is committed to providing regulatory clarity as much as possible,” continuing:

“CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations.”

Marco Santori, President and Chief Legal Officer crypto wallet service Blockchain.com, tweeted a thread of commentary yesterday on the CFTC’s joint statement, pointing out that since the CFTC “keeps discretion as to what threshold constitutes a Large Trader in the crypto context. [It will be] interesting to see where that leads.” Santori’s main takeaway is a comparison of the CFTC’s ability to simply post guidelines for crypto derivatives, while the U.S. Securities and Exchange Commission (SEC) is faced with the more difficult task of deciding whether or not to define tokens and coins as securities:

Last week, the SEC launched a mock Initial Coin Offering (ICO) website to show investors the warning signs for typical scams and fraud. The SEC and CFTC also held a joint hearing on cryptocurrency in early February. The hearing concluded that the two organizations need to work together on regulating the crypto market, with ICOs needing the most stringent framework, and virtual currencies and digital ledger technologies like blockchain the least.

Yesterday, U.S. and Canadian securities regulators announced “Operation Cryptosweep,” a joint series of probes into fraudulent crypto investment programs.



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Seoul Mayor Proposes Blockchain Incubation Center in Re-Election Pitch

Seoul mayor Park Won-soon is pledging to focus on blockchain innovation as part of his campaign pitch for potential re-election this year.

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Failed Bull Breakout Leaves Bitcoin Eyeing Drop to $8K

Bitcoin's failed bull breakout on Sunday has left the doors open for the bears to make a comeback.

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Australia Plans Blockchain Prototype to Deliver Welfare Payments in 2019

The Australian government’s digitization agency has revealed plans to explore the implementation of blockchain technology in delivering social security welfare payments to citizens. Speaking at a conference in Sydney last week, Digital Transformation Agency (DTA) chief executive Randall Brugeaud underlined welfare payment delivery as an early use case for its blockchain implementation effort. The DTA

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From the Internet to Crypto - How the World’s Richest Have Sized Things Up

Four of the world’s richest and most influential individuals have some interesting takes on Bitcoin and cryptocurrencies.

Throughout history, the thoughts and perceptions of the masses have been shaped by leaders of politics, industry and entertainment.

The greatest minds of our time have often predicted and touted some of the most prolific innovations. Lended the support of these voices, these very innovations have shaped the way the world works.

Internet

A prime example would be the Internet. The technology revolutionized communication in the 1990s and led to a surge in investments in Internet-based companies.

What followed is now known as the dotcom bubble - a rapid rise in equity born out of speculative investing in these dotcom companies eventually led to a stock market crash, with many companies with millions of dollars of market capitalization ending up worthless.

However, a lot of companies managed to survive this period - especially Amazon, which is now the biggest Internet retailer in the world and the third most valuable public company globally.

Ironically, some of the greatest investors of our time missed the boat on Amazon and other tech companies - showing that even the most revered industry leaders can get it wrong from time to time.

It’s interesting to see how some of these thought leaders have gauged emerging technologies over the past 25 years. Four of the five richest men in the world have had diverging opinions, as we’ve seen with their predictions on the internet almost two decades ago.

In 1996, Microsoft founder Bill Gates wrote a now famous essay titled ‘Content is King’, where he outlined his prediction for what would make the internet a world-shaping invention. His opening line pretty much hit the nail on the head, in terms of how a lot of the Internet is monetized:

“Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting.”

Meanwhile world famous investor Warren Buffett was wary of investing in internet based companies in the 1990s - something he has since admitted he regrets.

Amazon founder Jeff Bezos had more faith than most - enough to quit his full time job and start his own Internet-based company. According to CNBC, Bezos saw the potential of the sector due to the massive growth in the space, as recalled in a speech at Princeton University in 2010:

"I came across the fact that Web usage was growing at 2,300 percent per year. I'd never seen or heard of anything that grew that fast, and the idea of building an online bookstore with millions of titles — something that simply couldn't exist in the physical world — was very exciting to me.”

Crypto and blockchain

These contrasting views highlight the difference between industry revolutionaries over the years. This has also been the case with Bitcoin, blockchain technology and cryptocurrencies more recently. As the sector grows in prominence, the brightest minds have offered predictions, thoughts and appraisals of virtual currencies.

Some of it is positive, and some of it is negative. Nevertheless, we take a look at four of the five richest people in the world and their take on Bitcoin and cryptocurrencies in general. They’re ranked from richest downwards, as per Forbes’ prestigious list.

No.1: Jeff Bezos

2018 will go down as the year that Jeff Bezos became the first ever centi-billionaire. The founder, chairman and CEO of Amazon net worth is now over $100 bln, making him the wealthiest man in the world.

His company has gone from strength to strength over the years, and is now the world’s largest online shopping platform.

However, it’s almost impossible to find any comments made by Bezos directly talking about Bitcoin, cryptocurrency or blockchain technology.

The most we have is historical rumors that Amazon would start accepting Bitcoin as a payment option on its platform, which to this day has not happened.

There was further speculation when Amazon purchased three domain names that hinted a move towards the acceptance of cryptocurrency in October 2017.

Amazon Web Services partnered with R3 late in 2017 to provide one of the first ever distributed ledger technologies on the platform - the Corda project. Ironically, this was a week after Amazon Web Services CEO Andy Jassy said the company wouldn’t launch blockchain-based services.

Despite all of this, we are yet to hear what Bezos thinks about cryptocurrencies and blockchain. Given the scope of his company and his own influence, any commentary from the world’s richest man would no doubt have an effect on the industry.

No. 2: Bill Gates

The principal founder of Microsoft is responsible for developing one of the most popular operating systems around and is ranked as the second richest individual in the world by Forbes. Gates formerly occupied that number one spot from 2014 to 2017.

His wealth is a result of his ingenuity and he has now shifted his focus to philanthropic endeavors. Some of these projects, funded by the Bill and Melinda Gates Foundation, are using blockchain technology to solve problems plaguing developing countries.

The Foundation has supported projects like Bitsoko in Ghana, which has pioneered a Bitcoin merchant payment processing and Bitcoin wallet service in Ghana and other African countries.

With that being said, let's take a look at some of Gates’ most notable takes on Bitcoin and cryptocurrencies over the past few years.

During a Reddit Ask Me Anything in February 2018, Gates delivered some cynical remarks about cryptocurrencies in general.

Gates hit out at the anonymity of virtual currencies, saying they were ‘not a good thing’ as they hindered the identification of money laundering, tax evasion and funding of terrorism. He also went on to say that cryptocurrencies had "caused deaths in a fairly direct way” because they enabled people to buy hard drugs anonymously:

"Right now cryptocurrencies are used for buying Fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and cryptocurrencies is super risky for those who go long,"

Gates’ latest take on Bitcoin was in an interview on CNBC’s Squawk Box, where he said that he “would short it if there was an easy way to do it”. Gates added that Bitcoin and initial coin offerings (ICOs) offered nothing as an asset class and that people should not expect a rise in value.

While he was fairly harsh on Bitcoin and ICOs, he gave a more measured take on blockchain technology:

“There’s some really good technology in terms of sharing databases and verifying transactions that is talked about as blockchain. That is a good thing.”

Gates’ crypto philanthropy

These sentiments are a far cry to his more optimistic take on Bitcoin in an interview back in 2014 on Bloomberg TV’s Smart Street show. At the time, Gates extolled the virtues of cheap transaction made possible by Bitcoin:

“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”

At the time, Silk Road and other dark web marketplaces had recently been shut down - but Gates was still of the belief that Bitcoin had a lot to offer:

“The customers we’re talking about aren’t trying to be anonymous. They’re willing to be known, so Bitcoin technology is key and you can add to it or you could build a similar technology where there’s enough attribution where people feel comfortable that this is nothing to do with terrorism or any type of money laundering.”

What is more, the Bill and Melinda Gates Foundation have long been supporting blockchain projects, especially in Africa. For example, in 2015, the Foundation donated $100,000 to Bitsoko, a Kenyan Bitcoin merchant payment platform.

The Foundation has been pushing for the development of virtual currencies in Africa, as they could provide a way for the poor to have access to cheap, transactional services.

While Gates holds Bitcoin at an arm's length, Microsoft has had a long association with Bitcoin and blockchain technology.

Back in 2014, the company’s website began accepting Bitcoin as a payment method, and its cloud computing platform Microsoft Azure launched its Blockchain Workbench that aims to allow companies develop, test and launch blockchain applications.

No. 3: Warren Buffett

Currently ranked the third richest man in the world behind Jeff Bezos and Gates, Buffett is a household name when it comes to investments and finance.

The current CEO and chairman of multinational conglomerate Berkshire Hathaway, Buffett is considered one of the best investors in the world. When he speaks, people tend to take notice, especially when it comes to money and investments.

The ‘Oracle of Omaha’ has long been a skeptic of Bitcoin. As early as 2014, Buffett has been of the opinion that Bitcoin’s value is merely as a result of its capabilities as a transactional tool, which he believes can and will be replicated, as he told CNBC:

“Stay away from it. It’s a mirage, basically … it’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

It took a good three years for Buffett to grab Bitcoin-related headlines again, as the cryptocurrency began its biggest ever bull-run that eventually led to an all time high of $20,000.

In an interview with CNBC in January 2018, Buffett categorically stated that he would not trade Bitcoin, while predicting that cryptocurrencies as a whole would end badly:

“In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending. Now, when it happens or how, or anything else, I don’t know.”

Ironically, Buffett followed that very statement with another that suggested he wasn’t too clued up on the technical side of Bitcoin:

“We don’t own any, we’re not short any, we’ll never have a position in them. I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don’t know about?”

Buffett’s latest critiques of Bitcoin have been more fervorous. In April 2018, he suggested that buying Bitcoin was closer to gambling than investing in the lead up to Berkshire Hathaway’s annual shareholder meeting:

“Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more."

“You aren’t investing when you do that. You’re speculating. There’s nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing.”

The 87 year old further fueled that flame at the annual meeting where he was asked for his latest take on cryptocurrencies, stating “cryptocurrencies will come to bad endings.”

Buffett’s missed opportunities

While his stance on crypto is pretty clear, in 2017 Buffett admitted that he’d missed the boat on certain technology stocks over the years as reported by Fortune.

While Berkshire Hathaway have invested heavily in Apple of late, Buffett lamented passing the chance to buy Google stock when it launched its initial public offering in 2004 at the company’s 2017 annual meeting.

Buffett’s had a change of heart when it comes to tech companies, saying the market has ‘fundamentally changed’. According to Fortune, in 2017 the top five American tech companies were worth more than $2.5 tln - that is Amazon, Alphabet (formerly Google), Microsoft, Apple and Facebook.

Buffett said the same of Amazon in no uncertain terms: “I was too dumb to realize what was going to happen.”

It begs the question, are Buffett and some of his closest business partners like Charlie Munger missing the trick once again? Only time will tell, as it always does.

No. 4: Mark Zuckerberg

Currently rated the fifth richest individual on Earth by Forbes, Mark Zuckerberg is the cofounder, current chairman and CEO of Facebook.

The man has been in the news a lot lately, due to Facebook’s involvement in the Cambridge Analytica data privacy scandal.

Surprisingly, Zuckerberg has hardly been quoted in the media when it comes to his views on Bitcoin, cryptocurrencies and blockchain technology.

In fact, it’s hard to find much on the subject from Zuckerberg other than his own Facebook post in January 2018.

In that very post, Zuckerberg expressed his goals for 2018, which centered around making his social media platform a better tool for people in their everyday lives. Looking for areas to take inspiration from, Zuckerberg pointed to cryptocurrencies:

"There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people's hands … i'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services."

Ironically, Facebook and a number of the world’s biggest social media platforms and search engines announced plans to ban cryptocurrency and ICO advertising on their platforms.

Facebook’s move to ban these adverts are intended to prevent unwary investors from being duped by fraudulent services and scams - which could be an understandable endeavor.

However it ends up painting all cryptocurrencies and blockchain-based services and companies with the same brush, denying them one of the biggest advertising platforms in the world.

Winds of change

As we’ve seen, none of these influential leaders can predict the future, but almost every single one has left indelible marks in their various spheres of influence.

However, slowly but surely, it seems that blockchain technology and cryptocurrencies are creeping into these spheres and these same men will no doubt have very different opinions on the subject matter in the coming years.



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Chinese Watchdog Identifies 421 Cryptocurrencies as Outright Scams

Of late, the digital assets space has without a doubt drawn extensive media coverage, with reports, for the most part, focused on two factors: the price rise of cryptocurrencies, and the scams involving cryptocurrencies. Notwithstanding, investors are fleeced to the tune of millions with the bait of high returns, or a fraudulent pyramid scheme camouflaged

The post Chinese Watchdog Identifies 421 Cryptocurrencies as Outright Scams appeared first on CCN



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U.S. CFTC Seeks to ‘Provide Regulatory Clarity’ for Listing Virtual Currency Derivatives

Two U.S. CFTC divisions have jointly issued a staff advisory about the key areas in listing a virtual currency derivative product.

The U.S. Commodity Futures Trading Commission (CFTC) has issued an advisory statement for listing virtual currency derivative products, according to a CFTC press release published yesterday, May 21. The advisory statement is aimed at providing clarity for exchanges and clearing houses.

The staff advisory, which was jointly issued by the CFTC’s Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR), focuses on the specific areas involved in listing virtual currency derivatives on a designated contract market or swap execution facility. It covers the necessity for more market surveillance, coordination with CFTC staff, large trader reporting, and DCO risk management and governance.

Amir Zaidi, the director of the DMO, said in the press release that “the CFTC staff is committed to providing regulatory clarity as much as possible,” continuing:

“CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations.”

Marco Santori, President and Chief Legal Officer crypto wallet service Blockchain.com, tweeted a thread of commentary yesterday on the CFTC’s joint statement, pointing out that since the CFTC “keeps discretion as to what threshold constitutes a Large Trader in the crypto context. [It will be] interesting to see where that leads.” Santori’s main takeaway is a comparison of the CFTC’s ability to simply post guidelines for crypto derivatives, while the U.S. Securities and Exchange Commission (SEC) is faced with the more difficult task of deciding whether or not to define tokens and coins as securities:

Last week, the SEC launched a mock Initial Coin Offering (ICO) website to show investors the warning signs for typical scams and fraud. The SEC and CFTC also held a joint hearing on cryptocurrency in early February. The hearing concluded that the two organizations need to work together on regulating the crypto market, with ICOs needing the most stringent framework, and virtual currencies and digital ledger technologies like blockchain the least.

Yesterday, U.S. and Canadian securities regulators announced “Operation Cryptosweep,” a joint series of probes into fraudulent crypto investment programs.



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Chinese Watchdog Identifies 421 Cryptocurrencies as Outright Scams

Of late, the digital assets space has without a doubt drawn extensive media coverage, with reports, for the most part, focused on two factors: the price rise of cryptocurrencies, and the scams involving cryptocurrencies. Notwithstanding, investors are fleeced to the tune of millions with the bait of high returns, or a fraudulent pyramid scheme camouflaged

The post Chinese Watchdog Identifies 421 Cryptocurrencies as Outright Scams appeared first on CCN



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China State TV: Token Sales Still 'Rampant' After Central Bank Ban

China's highest-level state media outlet has said token sales are still common in the country despite a 2017 ban.

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Blockchain-Driven AI Platform Vows to Solve $500 Billion Issue for the Retail Industry

A company plans to cut waste by helping retailers manage stock levels with “pinpoint accuracy” and creating a generation of “smart consumers.”

A platform is combining “cutting edge” artificial intelligence (AI) with the “immutable reliability” of blockchain to create a system where retailers and manufacturers can predict whether they are overstocking or understocking products – an issue estimated to cost the industry $500 bln a year.

OSA DC, which stands for Optimal Shelf Availability Decentralized, says its system allows major brands and smaller chains to track product stock, inventories and orders with “pinpoint accuracy.”

Shoppers also stand to gain from the platform, as its digital assistant would provide reliable information on a product’s origin, ingredients, traceability, and price through a tamperproof ledger. OSA DC says this will create a new era of retail where “smart consumers” can make intelligent decisions and enjoy the same level of influence as the manufacturers and retailers who receive their hard-earned cash.

The principle of preventing overstocking would also be applied to OSA DC’s consumer-facing system – and in time, the company believes its AI-driven digital assistant could help shoppers manage their purchases and reduce domestic waste. Its white paper cites research that claims 30 percent of items bought worldwide never end up being used.

Based on a successful platform

OSA DC says its ecosystem is based on a hybrid platform which has already generated $1 mln in revenue and enjoyed success with 20 manufacturers and retailers. The company claims its service has helped global names such as Danone, L’Oréal, Coca-Cola, JTI, Mars and SunInBev increase sales by an average of 5.4 percent.

A decentralized system has been described as “the next evolution of the platform” as tokenizing services and implementing blockchain technology would “improve it even further.”

According to OSA DC, its blockchain-based platform and utility token satisfies Vitalik Buterin’s standard of a good project, with the company adding that it is holding an “ICO with purpose.”

Mr. Buterin, who founded Ethereum, has said many initial coin offerings are flawed, even claiming that 90 percent of newly launched ERC20 tokens will fail because they incentivize community members with passive income and lack a clear business model.

OSA says that it makes no promises that its token will generate passive income for users. However, it does plan to reward consumers who make contributions to its network and provide data that will help enrich its artificial intelligence models.

Addressing another issue which Mr. Buterin says is a fatal flaw in crypto-based start-ups, OSA says the promise and clarity of its business model is illustrated by the success it has enjoyed to date. The company is targeting retailers and their supply chains simultaneously, charging set fees whenever its services are integrated into their existing infrastructure. OSA DC’s network is going to be maintained through additional upkeep and transaction fees.

“Much-needed solutions to the customer retail industry”

OSA DC recently announced that it has established a partnership with Neuromation, which has developed advanced computer vision technology based on synthetically labeled datasets and trains neural networks. Its services would be used to build OSA DC’s image recognition software, allowing its AI systems to control responses in real time to predict availability for shoppers at the store.

Registration for the whitelist of OSA’s token sale began on March 20 and closed on May 15. The public presale is being held from May 21 to June 21, with a bonus offered to early contributors. The main crowdsale is scheduled to begin on June 21, lasting throughout July unless its hard cap of $40 mln is met earlier.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.



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Bitcoin Brokerage Denies Tezos ICO Involvement in Court Filing

Bitcoin Suisse AG, a cryptocurrency brokerage listed as a defendant in a lawsuit against Tezos, has filed a motion to dismiss the case against it.

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The UK’s Cryptoassets Taskforce Agrees on Key Objectives in First Meeting

The British government’s newly-established cryptocurrency task force has held its first meeting ahead of assessing what, if any, regulation is required for broad crypto and blockchain sector. The UK government’s ‘Cryptoassets Task Force’ – comprised of Her Majesty’s Treasury alongside the Bank of England and the Financial Conduct Authority (the central bank and the financial

The post The UK’s Cryptoassets Taskforce Agrees on Key Objectives in First Meeting appeared first on CCN



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Vitalik Buterin Reportedly Pursued by Google, Asked Followers for Opinion in Deleted Poll

Vitalik Buterin, the co-founder of Ethereum, reportdely posted and then deleted a tweet about being recruited to work for Google.

Google is apparently trying to recruit Ethereum (ETH) co-founder Vitalik Buterin to join their team, according to a since removed tweet by Buterin, reportedly posted May 20.

Twitter

Buterin posted a since deleted tweet with a screenshot allegedly from a Google recruiter asking if Google “ma[d]e sense for you now or in the future,” along with a poll to the Twitter community over whether or not to take the job.

In his original tweet, Buterin neglected to censor the recruiter’s name, email address, and profile photo. The pool had over 2,000 responses before being taken down, with the majority voting “No” to Buterin leaving Ethereum for Google.

At the end of March, Google revealed that it is working on two separate blockchain projects: a “tamper-proof” auditing system and a cloud operations platform. Earlier that same month, Google had announced plans to ban all crypto-related ads.

Reddit user Fuyuki_Wataru commented on a post about Buterin’s Google-related tweet and delete, writing:

“[Buterin is] free to do what he wants [...] honestly his talent is too large to be caged in, even when at a company at [sic] Google. If you've achieved this much at such a young age, I think life has more plans for you. Perhaps a good 1-2 month vacation might be better.”

At presstime, Ethereum is currently trading at $695, down a little more than 2.53 percent over a 24 hour period.



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Japan’s Biggest Bank to Carry Large-Scale Trial of Cryptocurrency ‘MUFG Coin’

The banking arm of the Mitsubishi UFJ Financial Group’s (MUFG), the Bank of Tokyo-Mitsubishi UFJ, is reportedly planning to trial its in-house cryptocurrency in 2019 following years of development. As Japan’s largest bank, MUFG could become the world’s first major financial institution to deploy its own cryptocurrency after a local report by Japanese publication NHK

The post Japan’s Biggest Bank to Carry Large-Scale Trial of Cryptocurrency ‘MUFG Coin’ appeared first on CCN



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Ohio Could Become Next US State to Legally Recognize Blockchain Data

A bill proposed by an Ohio Senator would let the state legally recognize blockchain records and smart contracts.

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Blockchain Streaming Platform to Host Hearthstone Tournament Within Days

A company is hosting the first-ever Hearthstone tournament to be powered by blockchain, with eight pro players and popular streamers going head to head.

A company billing itself as “the world’s first decentralized streaming platform for gamers and esports fans” is preparing to host a virtual Hearthstone tournament within the coming days.

Play2Live says this is the first-ever Hearthstone contest to be powered by blockchain technology, as well as the “next generation of streaming interactivity” that its platform provides.

Eight players have been invited for the tournament, including professional players and popular streamers. The quarter finals kick off at 12am GMT on May 23, followed by the lower bracket finals and semi-finals on May 24. It all builds up to the grand final on May 25.

Everything is going to be broadcast on P2L.TV, with engaging esports commentaries provided in both English and Russian.

This is the latest tournament to be held by Play2Live. In February, eight leading Counter-Strike: Global Offensive teams from around the world competed for a prize of 2 mln Level Up Coins (LUC) – the equivalent of about $100,000. The broadcast in 16 languages attracted a total viewership of more than 950,000, and the company is hoping to build on its earlier success in its latest eSports event.

Play2Live’s MVP 3.0 launches

The company’s development team has been continuing to work on its minimum viable product – and a newly launched, updated version of its MVP is expected to pave the way for a “fully fledged beta version” of its platform by the start of Q3 2018.

Some of the latest features unveiled by Play2Live include the ability to refill LUC tokens from any ERC20-compliant crypto wallet, as well as an enhanced platform interface. As well as improved functionality for notifications, donations and subscriptions, a chat moderation mechanism enables inappropriate users to be banned.

In time, Play2Live hopes to offer 15 potential sources of revenue for its ecosystem’s users – treble the income streams made available by current leaders within the streaming industry. The company says streamers themselves will have the ability to monetize their content in 11 different ways – a far cry to the four or five options they have on existing platforms.

“Preliminary agreements” with several exchanges

The founder and chief executive of Play2Live, Alexey Burdyko, has confirmed that the company has struck preliminary agreements with a number of exchanges – including CoinBene and Yobit. This comes as the company continues to develop and test its own blockchain infrastructure, which is known as the Level Up Chain.

He told Cointelegraph: “Starting May 21, 2018 our token will also be traded on HitBTC — one of the most reliable crypto exchanges in the world.

“To ensure further development of Play2Live ecosystem and Level Up Chain, users will be offered an opportunity to trade LUC token on other reliable and established cryptocurrency exchange platform.”

As previously reported by Cointelegraph, P2L says that one of the biggest advantages of the Level Up Chain is could provide users with practically unlimited levels of bandwidth. In time, it’s hoped that the main network will be able to support as many as 500 transactions per second.

Play2Live has big plans for the future – and by the first quarter of next year, it hopes to have welcomed more than 5 mln users to its platform. The company says this goal will be achieved by fostering partnerships with prominent streamers, as well as the organizers of eSports tournaments.

Its initial coin offering successfully concluded back in March, with Play2Live executives revealing that its hard cap of $30 mln was reached.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.



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Taxes on Restricted Crypto and Options Can Be Confusing: Expert Take

How the IRS is going to tax your future income.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. This text shouldn’t be considered as legal advice.

There is considerable talk today about crypto investments for everyone, for individual retirement accounts, via index funds, and more. There are also plenty of crypto-related startups, some of which have gotten quite big and quite valuable. That means options, crypto bonuses, restricted crypto, etc. All of these raise tax issues, and can be confusing.

Before we address crypto itself that is awarded to workers in connection with services, let’s start with stock options, and options to acquire crypto.

Two types of options

There are two main types of options: incentive stock options (ISOs) and non-qualified stock options (NSOs). ISOs (only for stock) are taxed the most favorably. There is generally no tax at the time they are granted, and no "regular" tax at the time they are exercised. When you sell your shares afterwards, you pay tax, but hopefully as long-term capital gain.

The usual capital gains holding period is more than one year. But to get capital gains treatment for shares acquired via ISOs, you must: (a) hold the shares for more than a year after you exercise the options; and (b) sell the shares at least two years after your ISOs were granted. This two-year rule catches many people. Even though exercise of an ISO triggers no regular tax, it can trigger alternative minimum tax (AMT).

Non-qualified options

Non-qualified options are not taxed as favorably as ISOs, but there is no AMT trap. There is no tax when the option is granted. But when you exercise a non-qualified option, you owe ordinary income tax - and, if you are an employee, Medicare and other payroll taxes - on the difference between your price and the market value.

For example, you receive an option to buy stock at $5 per share when the stock is trading at $5. Two years later, you exercise when the stock is trading at $10 per share. You pay $5 when you exercise, but the value at that time is $10, so you have $5 of compensation income. If you hold the stock for more than a year and sell it, any sales price above $10 - your new basis - should be a long-term capital gain.

Options to buy crypto

Options to buy crypto are treated just like nonqualified options to buy stock. Usually the tax is applicable when you exercise the option, not when you are given the option.

Restricted stock or crypto means delayed tax

Suppose that you receive stock or any other property - including crypto - from your employer with conditions attached. Say you must stay at the employer for two years to get it or to keep it. Special restricted tax rules in Section 83 of the Internal Revenue Code kick in.

Let’s consider pure restricted property. As a carrot to stay with the company, your employer says if you stay for 36 months, you will be awarded $50,000 worth of crypto. You don't have to "pay" anything for them, but it is given to you in connection with performing services. You have no taxable income until you receive the crypto. In effect, the Inland Revenue Service (IRS) waits 36 months to see what will happen. When you receive the crypto, you have $50,000 of income - or more or less, depending on how the crypto has done in the meantime. This income is taxed as wages.

The IRS won't wait forever

With restrictions that will lapse with time, the IRS waits to see what happens before taxing it. Yet some restrictions will never lapse. With such "non-lapse" restrictions, the IRS values the property subject to those restrictions.

For example, your employer promises you crypto if you remain with the company for 18 months. When you receive it, it will be subject to permanent restrictions under a company buy/sell agreement to resell it for a fixed price if you ever leave the company's employ. The IRS will wait and see - no tax - for the first 18 months. At that point, you will be taxed on the value, which is likely to be stated fixed price in the resale restriction.

You can elect to be taxed sooner

The restricted property rules generally adopt a ‘wait and see’ approach for restrictions that will eventually lapse. Nevertheless, under what's known as an 83(b) election, you can choose to include the value of the property in your income earlier - in effect disregarding the restrictions.

It might sound counter-intuitive to elect to include something on your tax return before it is required. Yet the game here is to try to include it in income at a low value, locking in capital gain treatment for future appreciation. To elect current taxation, you must file a written 83(b) election with the IRS within 30 days of receiving the property. You must report on the election the value of what you received as compensation - which might be small or even zero.

For example, you are offered crypto by your employer at $5 per coin when it is worth $5. However, you must remain with the company for two years to be able to sell them. You are paying fair market value for the crypto. So filing an 83(b) election could report zero income. Yet by filing it, you convert what would be future ordinary income into capital gain. When you sell the crypto more than a year later, you'll be glad you filed the election.

Restrictions + options = confusion.

As if the restricted property rules and stock options rules were each not complicated enough, sometimes you have to deal with both sets of rules. For example, you may be awarded options that are restricted - your rights to them "vest" over time if you stay with the company. The IRS generally waits to see what happens in such a case.

 

Robert W. Wood  is a tax lawyer representing clients worldwide from offices at Wood LLP, in San Francisco (www.WoodLLP.com). He is the author of numerous tax books, and writes frequently about taxes for Forbes.com, Tax Notes, and other publications. This discussion is not intended as legal advice.



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Monday, May 21, 2018

Walmart Files Patent for Blockchain-Based Customer Marketplace

Walmart’s latest blockchain-related patent proposes a platform that would let customers resell items they no longer need.

Walmart has filed a patent for a blockchain-based marketplace for reselling purchased products, according to a US Patent and Trademark Office USPTO patent filing from May 17.

The application describes a service that would record a customer’s purchases in a blockchain ledger, thus allowing the customer to resell the items on a sales platform using the record of purchase.

The patent notes that since customers don’t always plan to use an item for its lifespan, and are generally “left to their own devices to arrange for a subsequent resale,” the architecture described in the patent can provide “additional support to greatly ease and facilitate their later reselling of items.” The interface could be point-of-sale, browser-based, or a mobile device among other options.

Walmart’s patent mentions the increasing competition from “non-traditional shopping mechanisms” as an incentive for ‘bricks and mortar [sic]’ retailers to stay ahead of new technologies that could improve customer experience.

In the beginning of March, a Walmart filed a different patent for a “Smart Package” delivery system that uses a blockchain-based tool for tracking package contents, environmental conditions, and locations.

And at the end of April, the vice president of Walmart’s Food Safety and Health announced that the company was ready to use blockchain tech in its live food business in order to improve contamination management and overall transparency.



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Blockchain Charity Fundraising Platform Cherr.io Launches Presale

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Slovenia based Cherr.io.io has announced the launch of their presale, which started May 15th and ends 9 days later on May 24th. The official crowdsale will start June

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Decentralized Video Sharing Platform Viuly to Present at Block O2O and Fintech O2O Conferences

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Decentralized video sharing platform Viuly is aiming to become a better video platform than standard centralized video platforms like Youtube and Vimeo. It eliminates the need for an

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Walmart Looks to Blockchain for Retail Product Resales

A newly-released Walmart patent application outlines a digital resale marketplace placed on a blockchain.

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Drug Dealing and Shrimp Breeding: 4chan DApp Games Invade Ethereum Blockchain

4chan users have created DApps on the Ethereum blockchain accounting for tens of thousands of transactions in the last few days as users sell virtual cocaine and breed shrimp eggs to sell on the blockchain. The game Ether Cartel, listed as number one on the new category list on DappRadar, saw a volume of over 33

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Roger Ver and Mate Tokay from Bitcoin.com Join a New Fintech Startup Advisory Board

The partnership may bring new benefits to the Bitcoin Cash community, and provide it with widen range of financial management options.

Bitcoin.com’s CEO Roger Ver and COO Mate Tokay have become advisors to a fintech startup MoneyToken, as reported in MoneyToken’s announcement. The partnership between MoneyToken and Bitcoin.com may bring new benefits to the Bitcoin Cash (BCH) community, as BCH will be available as accepted collateral on the MoneyToken lending platform, says the joint press release.

According to Bitcoin.com, Roger Ver is also an advocate of Bitcoin Cash and one of the key influencers in the crypto community because of his early investments - since 2011 - in crypto-related startups including Ripple, Blockchain.info, Bitpay and Kraken. Ver’s company, MemoryDealers, became the first company in the world to accept Bitcoin as a payment option for its services.

As reported in the MoneyToken announcement, Mate Tokay has been involved in the cryptocurrency business as a miner since 2013. He co-founded Bitcoinist.net a cryptocurrency news magazine and he is now the COO at Bitcoin.com - one of the most popular source for bitcoin related news and information.  

MoneyToken is a cryptocurrency-backed lending platform that provides loans to cryptocurrency holders. The main idea is that a borrower who owns cryptos may simultaneously deposit cryptos as a long-term asset and spend it at the same time by investing in new initial coin offerings (ICOs), or by trading at exchanges.

Joining forces

“MoneyToken is a bright example of the real use of blockchain technology, as well as offering a massive boost for crypto market liquidity for all market players, and especially for businesses,” Roger Ver said at the press release on the partnership with MoneyToken.

With leading Bitcoin.com executives on the board of advisors, MoneyToken faces new opportunities. “Now Bitcoin Cash holders can enjoy the benefits that MoneyToken offers - leveraging their assets and spending cash, while continuing to hold their crypto positions”, says the announcement.

“The Bitcoin Cash community is a unique and powerful force in cryptocurrency. Adding our support to Bitcoin Cash and allowing our potential token buyers and future lenders and borrowers to operate in BCH, only adds to our portfolio and strengthens the value of MoneyToken as a product for all our users.” Commented Jerome MacGillivray, Co-Founder of MoneyToken.

Conquering fintech user’s hearts

The MoneyToken platform, aimed at miners, projects that made their token sales, traders, investors and exchanges, will allow holders of crypto assets to gain access to loan-based financial services, using cryptocurrency as collateral.

The MoneyToken business model works as following. Any user may deposit his Bitcoins, Ethers or other coins at MoneyToken and in return receive the a loan that may be spent on investments in US dollars or cryptocurrencies.

MoneyToken has launched its public token presale on May 2, 2018 with a 20 percent bonus. The crowdsale campaign will last until June 6, 2018. So far, the MoneyToken team has overpassed its softcap goal, having raised almost $10 mln. The hardcap is $41.5 mln.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.



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Why BIT.GAME Will Be One of the Best ICOs in 2018

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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Crypto-powered Brave Browser Hits 5 Million Downloads in Google Play Store

Cryptocurrency-powered web browser Brave has now been downloaded more than five million times from the Google Play mobile app store. The ad-blocking browser, which was co-founded by Mozilla Firefox creator Brendan Eich, reached this significant milestone last Thursday, just six months after crossing the one million download threshold. This rapid growth has come on the

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DEx.Top A Bitmain Incubated Decentralized Exchange Launches This Month

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WONO Peer-To-Peer Platform Presented on the Emerge Conference

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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