Day: October 9, 2019

The Internal Revenue Service released its newest FAQ and guidelines on taxing US nationals for crypto transactions. The updated guidelines may come as a surprise to those that once rejoiced because of hard forks and the “free” coins that came with them. Is a Hard Fork Really Income? Outside of the already established rules for declaring short-term or long-term capital gains, the IRS believes coins originating in a hard fork created taxable income for the year in which the coins were received. IRS cryptocurrency guidance! “If a hard fork is…

While the deadline for the gradual launch of Ethereum 2.0 is just around the corner, critics express concerns over potential risks and even call Ethereum a scam. Skeptics Feel Misled Over Network’s Scalability Ethereum started as an ambitious idea of a global platform to host decentralized applications (Dapps) and smart contracts. While there are many projects and Dapps on Ethereum, the network might not be capable of supporting potential mainstream Dapps with millions of users. For example, when the blockchain game CryptoKitties reached its culmination, the transaction fees on Ethereum…

The TRON network showed statistics out of the ballpark in comparison to Ethereum and EOS. Multiple accounts, new distributed apps and activity picking up – those seemed to be an indicator for one of the most robust crypto ecosystems, however new research suggests otherwise. Faked Unique Accounts and Game Activity A study conducted by AnChain shows there is overwhelming bot activity on the TRON network, made possible by the very protocol for producing TRON blocks through Super Delegates. New analysis shows that the reported activity of TRON distributed apps may…

Bitcoin is a great tool to diversify an investment portfolio, investment management firm VanEck concluded in a blog post. The Cryptocurrency Shows Low Correlation to Traditional Assets It is not a secret that Bitcoin demonstrates almost no correlation to traditional assets. This aspect was previously analyzed in detail by several well-established asset managers and hedge funds, including Pantera Capital. Thus, it is no surprise that VanEck focused on the cryptocurrency’s distinctive attribute of moving independently of other asset groups. This trait makes BTC a must-have option in any well-diversified investment…

We all know there are plenty of whales out there with the power to move the market. But who are the biggest Bitcoin HODLers among them? Exchanges Are the Biggest Bitcoin HODLers It will probably come as no surprise to hear that exchanges are the biggest Bitcoin HODLers. 6.7% of the current circulation (some $9.8 billion) is held on exchange wallets. What is a little more interesting, however, is that despite the lengthy bear market, “rallies & crashes,” exchanges have continued to accrue more BTC. Exchanges are the biggest #HODLers…

ChainLink (LINK) is having an altcoin season of its own – all over again. LINK has been known to move against the trend, staging a similar rally in the second quarter. LINK has now grown more than 49% in a single week, touching $2.88 again, with predictions of easily reaching $3. LINK has managed to grow to $3.74, and may repeat this record. LINK is also growing against Bitcoin (BTC), already breaking its own record to above 34,000 Satoshi. (1) Partnership with SWIFT ChainLink claims to be working on a…

Amongst the wide range of charts, models and tools to map and predict bitcoin price moves is one barely-noticed metric. But Timothy Peterson, of Cane Island Alternative Advisors, has just published an article championing Bitcoin’s ‘never look back’ price. Bitcoin Passes A Point Of No Return The concept of the ‘never look back’ (NLB) price is simple. For each given date of Bitcoin’s existence, plot the lowest price between that point and today. So for instance, taking 19 July 2010 as a start date, the lowest recorded price since then…