A song for the strong willed.They don't know whats gonna hit em.
Knock knock let the devil in.
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BTC trade ideas
Russia’s emerging crypto businessThe crypto market in the Russian Federation is developing thanks to favorable conditions.
There are several factors that may help to make this country the center of the crypto industry . Firstly, Russia is the largest country in the world as the total area exceeds 17 million square kilometers.
Secondly, it inherited some of the largest hydropower plants after the Soviet Union dissolved in 1991. Bratsk hydropower plant is one of them.
Another reason why it was a great idea to open a data center in Bratsk is weather, more precisely cold weather. The climate in Siberia is perfect for crypto mining as long, and cold winters help to reduce the costs associated with mining.
This hydropower plant, as well as the aluminum plant located in the same city, which belonged to Oleg Deripaska. He is one of the richest men in the Russian Federation. He used to control hydropower plant along with aluminum plant through his company Group Plc and its unit United Co. Rusal.
The U.S. imposed sanctions on Oleg Deripaska due to his ties to the Russian government. However, he reached an agreement with the U.S. Treasury. As a result, U.S. authorities canceled the sanctions against EN+ in January.
En+, which used to belong to Deripaska, supplies up to 100 megawatts to Bitriver each year.
Chinese Crypto Office BISS Shut DownChinese authorities force closed the local cryptocurrency exchange, BISS. Then, they arrested about ten people suspected of being part of its operations.
On November 22, local media Sohu reported the developments undertaken by Chinese authorities. But the actual date of when the event took place is unclear.
In addition to that, also on the same day, Dovey Wan, the founding partner of blockchain-based investment firm Primitive Ventures, stated that the local crypto community had known of the progress for a couple of weeks. However, the information was publicized a little late. Also, She believed that the Beijing-based exchange in question is remarkable, “It’s a relatively up-and-rising exchange.”
Aside from that, in a blog post shares on November 18, the exchange discussed the user withdrawal issues. Then, the firm confirmed that Chinese authorities had stopped operations.
The post indicated, “According to market sources, it is understood that BISS’ operations have been halted following an enquiry by China’s regulatory authorities around its services offered to users.”
Moreover, according to the blog post, this may not align with the capital controls regulations in China. The firm also insists on the announcement that operations had halted while the authorities looked into the case to safeguard user interests. Then, the exchange indicated that it plans to cooperate appropriately with Chinese law enforcement.
In the while Bitcoin Price Fell to $2,5K
Silvergate Bank Celebrated Its IPO DayShares of Silvergate Bank recently launched for trading on the New York Stock Exchange (NYSE) last November 7. In a tweet of NYSE, it is officially listed Silvergate Capital, opening at $12.75.
In addition to that, the firm also celebrates its initial public offering (IPO) day, NYSE revealed.
Then, following the news, Silvergate Capital Corporation declared the pricing of its IPO of 3,333,333 shares of its Class A common stock at a public offering price of $12.00 per share.
Aside from that, Silvergate indicated that they expect the offering to close on November 12. And also, it is subject to customary closing conditions.
Now, going back to that announcement, the company also highlighted that the United States Securities and Exchange Commission (SEC) declared the registration statement about securities of Silvergate to be effective.
In a filing of the SEC on October 28, Silvergate saw its number of digital currency customers rise. From 655 of June 30, 2019, it became 756 of September 30, 2019. In a previous report, those customers include crypto-related clients like exchanges, miners, and custodians, among others.
Fiat Transfers
Meanwhile, back in August 2019, Winklevoss twins-founded crypto exchange Gemini became a part of the Silvergate Exchange Network (SEN) of Silvergate. And they aim to speed fiat transfers. The SEN is a network of crypto exchanges and investors. Then, this allows transactions of the U.S. dollars between SEN members any time, 24 hours a day, 7 days a week, 365 days a year.
Based on the filing, the SEN registered $10.4 billion in transfers for the three months ending on September 30. And this delivers total transfers on the SEN to $23.1 billion. Furthermore, complete fiat transfers, including wires to $41.5 billion for the nine months ended on September 30. During the same time in 2018, the numbers amounted to $4.4 billion and $25.9 billion, respectively.
HMRC Updates Cryptocurrency GuidelinesThe HMRC (Her Majesty’s Revenue and Customs) is the tax, payments, and customs authority of the United Kingdom. Recently, it has renewed its cryptocurrency taxation guidelines for businesses and individuals.
In addition to that, the U.K. government tax agency handles taxes alongside other financial policies. On November 1, it issued tax guidelines updates. The government further clarified its stance on the taxing of businesses and individuals involved with cryptocurrencies.
Aside from that, the guidelines set out the view of HMRC on the crypto transaction, where taxes apply, how to file tax returns and accounting practices, among others. Also, it considers the taxation of exchange tokens. At the same time, it stated that they would add regulations for utility or security tokens in the future.
Companies that need to pay for one or more different types of tax are the ones that buy or sell tokens, mine exchange for other assets. Also, they also included firms that offer goods or services in return for tokens. The taxes that they are liable to pay are income tax, corporation tax, capital gains tax, stamp taxes, and National Insurance contributions.
According to HMRC, it does not see any of the current types of cryptocurrency as money or currency.
Bitcoin on October Closing
Meanwhile, Bitcoin (BTC) price failed to impress as October closed. Approximately 194 days remain until the next Bitcoin halving. This might feel like an eternity away for the ones involved in the crypto space.
Then, this week, there were various negative news events such as the Bitmex email leak and the Coinbase flash crash. Moreover, this resulted in mass liquidations on Deribit. Now, investors are wondering if the Bitcoin price could show astounding gains in the short term.
For the past few days, Bitcoin got stuck in a tight range between $9,100 to $9,400.
Altcoin vs bitcoin marketcap price prediction. Time to buy alts!Analysis based on chart pattern. History usually repeat itself.
What do you think about it dear traders?
SEC Action, Telegram Responds to InvestorsSEC Action, Telegram Responds to Investors
TON (Telegram Open Network) has been trying to get feedback from the SEC (Securities and Exchange Commission) of the United States for 18 months now. And this is about the TON blockchain and how it does not agree with the recent action.
In addition to that, TON developers gave a response to its investors. And this happened after American regulators abruptly reported its $1.7 billion token sales became illegal.
The Ton letter stated, “We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances.”
The letter also showed how the firm disagrees with the legal position of the SEC.
Moreover, the company assured them they are assessing further the best possible ways to resolve the situation. Of course, in the interest of the relevant parties. And this includes, but not limited to, evaluating if they would delay the launch date.
The SEC deemed Telegram’s initial coin offering (ICO) illegal. After that, it filed a temporary restraining order, which set a court hearing in New York for October 24.
Then, Nathaniel Popper, New York Times tech reporter, tweeted on October 12 to indicate the involvement of high-profile investors in Telegram’s $1.7 billion ICO. And it includes Benchmark, Sequoia, and Lightspeed.
Popper wrote, “The SEC’s move to shut down Telegram’s crypto project raises questions about the big venture capital firm that gave it $1.7 billion and convicted themselves that it would pass regulatory muster.”
Previously, a private Telegram channel for TON investors got rid of all posts from the past. Also, it declared that it would take a break amid the heightened level of regulatory uncertainty.
Crypto Market: Bitcoin Bounced
On Sunday, Bitcoin (BTC) further bounced around the $8,400 price mark. On the other hand, most of the top-20 coins by market capitalization showed little gains.
Aside from that, crypto markets are seeing slight gains — most within a tight range of 1-2%. Binance Coin (BNB) is the one who stood out the most and is boosting over 7.5%.
Cryptocurrencies’ Opportunity In BettingBack in July, you may have seen an article posted here about cryptocurrencies’ place in the sports world . As detailed in that piece, teams and leagues in everything from European football to the NBA to kickboxing have explored various forms of investment in cryptocurrencies, leading many to believe that sports will continue to provide exciting opportunities on the digital currency front. In this piece, we want to expand on this idea by highlighting, in addition, to the exciting opportunities that the sports betting business can provide for cryptos.
The Basic Perks Of Cryptos
We tend to focus so much on cryptocurrency pricing these days that we forget about its basic appeal to users. Broadly speaking, it’s still the case that most consumers know relatively little about cryptos, or know a little bit but find them confusing or unnecessary. However, those who do understand cryptos and recognize their benefits tend to count instant settlement and fraud protection among the perks . These perks can be applied to a lot of different usage opportunities, naturally, but efficiency, security, and transparency are of particular importance to people betting online. While today’s sportsbook and casino sites tend to be fairly secure, there’s a history of less-than-reputable operators in this industry, which leads customers to be on their guard. So, in theory, instant settlement and fraud protection can be reassuring and appealing to sports bettors.
The Expanding Betting Business
If we’ve established why cryptos can be of interest to bettors, it’s also worthwhile to discuss where those bettors will do business. And the answer to that prompt is that there are betting opportunities in more places seemingly with each passing month. Sportsbooks have operated in Europe, in Oceania, in parts of Asia, and on islands around the world for many years now. More recently, U.S. laws have changed and sites are emerging in certain states as well, meaning Americans, too, will soon have widespread access to sportsbooks. Also of note is that these sportsbooks operate about as much through mobile channels as on the internet now, which serves to further expand access. All things considered, this is a growing and increasingly active business.
The Clear Opportunity
What the two points above illustrate is that betting – like the sports industry as a whole – represents a major opportunity for cryptocurrency. Cryptos are a natural fit for people who are looking to place bets as securely and efficiently as possible. And with the expanding industry, there are only going to be more and more bettors who fit that description. This suggests that if and when prominent sportsbooks choose to adopt cryptos, usage could take off.
Virginia Beach-based BCause Mining Ordered to Liquidate AssetsLocated in the city of Virginia Beach, Bitcoin mining operation BCause Mining was ordered to liquidate its assets .
Local news outlet the Virginian-Pilot reported on October 9 that the Bitcoin mining company filed earlier this year for bankruptcy. Then this week, a federal finally approved the motion to change the filing from a reorganization to a Chapter 7 liquidation.
Furthermore, the now-defunct mining firm received a $500,000 grant last January 2018 from the city of Virginia Beach. And they gave this amount for the company to expand its operations to a local rented warehouse. On the other hand, the firm assured to incest more than $60 million in a massive expansion. And this would have become the largest cryptocurrency mining operation in North America.
Elsewhere in West Virginia, the Federal Bureau of Investing (FBI) is investigating if a student at the University of Michigan tried to hack the voting app.
Mac Warner, Secretary of State in West Virginia, warned the FBI during an unsuccessful effort to have unauthorized access to the Voatz voting app. Also, he stated the activity of the attempt was from IP addresses connected to the University of Michigan.
Impressive Gains
Meanwhile, Bitcoin and altcoins showed remarkable gains. The BTC further rebounded, leaping $400 in just a few hours. Then, altcoins rally in sync with BTC.
The most popular crypto coin rallied from an intraday low of around $8,200 up to its current trading price around $8,600. This shows incredible gains of above 5%. Then, the vast majority of the top 100 cryptocurrencies are jumping in sync with Bitcoin. Also, they are recording major double-digit gains.
Then, Ether (ETH) followed suit and boosted in sync with most of its fellow altcoins. It displayed more than a decent gain of almost 7%. The second-biggest cryptocurrency by market cap reached its intraday low at $170. And after that, it has hit $91.58 per coin. But the price still fell 14% from its high of $222 in mid-September.
Cryptocurrency collapsing led by Altcoin Bloodbath?When some1 tells you cryptocurrency collapsing led by Altcoin Bloodbath just show him this chart
Volume of Digital Coins to Make Ground Amid Bakkt’s Weak IntroYesterday, after Bakkt has launched, trading seems to be off on a positive start. On the flip side, Bitcoin is experiencing a quiet period in volume and volatility at the moment.
Over the time, Bakkt Bitcoin’s volume will be increasing. A lot of investors are expecting the increase.
The unveiling of a significant institutional investment product for a relatively new asset is not without consequence.
The Intercontinental Exchange has evidently understood that.
Moreover, initial thoughts for the products of the physically delivered future are positive.
Bakkt Bitcoin futures finally began to operate, after following months of anticipation.
In addition, a few hours ago, it is enabling investors to immerse in both the contract and the actual asset.
In a news report, head of the product strategy at TradeStation Crypto James Putra indicated that investors could possibly benefit first from the growth in the futures price.
After that, it can then take control of the physical Bitcoins.
He also added that the move to merge and create an accessible infrastructure for crypto-asset investment is a positive step.
Explanation on Bakkt’s Point of View
Meanwhile, Su Zhu stated that the acceptance on day one is usually low, but it could escalate into a surge.
He is also the CEO of FX Hedge Fund Three Arrows Capital and Co-Founder of Sensus Markets.
In a statement, Zhu stated, “Bakkt will be likely first a trickle and then a flood.”
Moreover, “The reality is that most regulated futures contracts get low adoption on day1 simply b/c, not all futures brokers are ready to clear it, many ppl want to wait and see, the tickers are not even populated on risk systems, etc.”
At the time of writing, 17 BTC has already been financed into the Bakkt monthly agreement, and volume was escalating.
However, this is a good start, and it is just really the beginning. The first day is not going to be the basis for the success of the products.
Get all updates on Cryptocurrencies
Bulls and bearsEven though it may look like bitcoin is going up, you might want to hold back and see how it is going to form. Alot of pump and dumps and alot of velocity.
Bitcoin Market Cap. Up or Down.....Hi all,
(info provided in the chart)
The Bitcoin Market Cap chart moving right now in a sym triangle. This is a continuation pattern.
A triangle forms itself to give the market some breath after a big move.
Because it is a continuation pattern, I'll expect a break out upwards.
But, keep in mind, this type of triangle always has a 50/50 outcome.
Short after clear break down, long by clear break up
My long term:
Digital currencies on TuesdayThere is another good news for people who own digital currencies or are planning to buy Bitcoin’s price. The price of the number one cryptocurrency increased on Tuesday. Bitcoin’s price surpassed $10,000 level which is often regarded as a key psychological level. It means that when the price is above that level this makes Bitcoin more attractive to the crypto investors.
Bitcoin struggled on Monday as its price was below $10,000. However, Bitcoin was able to break the resistance near this level. The price continued to increase after it crossed the $10,000 level.
At the moment, Bitcoin’s price is $10,301. This digital currency has the potential to achieve $10,500 if this trend is going to continue on Tuesday.
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Digital currencies and global tendenciesThe cryptocurrency market is growing very fast. At the moment, there are more than 1,000 cryptocurrencies in the world. Some of them are well-known while others are relatively unknown for the crypto community. It is not surprising as the market is evolving every day. A person should devote a considerable amount of time to learn more about the latest trends.
One of the news which is directly connected to the digital currencies is the famous investor’s comment about the Bitcoin. Billionaire investor Mike Novogratz is the CEO of Galaxy Digital Holdings. This is a bitcoin and digital currency investment company.
Novogratz thinks that the bitcoin revolution will happen in the future. It just will take some time before cryptocurrencies will become part of everyday life. According to Novogratz, the process might take up to five years. He mentioned that regulations should catch up with modern tendencies.
Regulations and digital currenciesDigital currency and its problems
Mike Novogratz is not the only person who understands the problems which cryptocurrencies are trying to deal since the beginning. United Nations (UN) top official is also worried about the lack of regulations.
Neil Walsh is the chief of the Cybercrime and Anti-money laundering at the UN office. The UN Office on Drugs and Crime’s task is to deal with various crimes connected with cybersecurity, etc.
Walsh said that by adding security protocols as this change will make digital currencies less interesting for potential criminals. He noted that the UN was working with policymakers and crypto experts to enforce the regulations.
Several months ago, in June FATF which is the intergovernmental organization released its final version of recommendations. In his speech UN official also talked about this issue. The purpose of this document to fight the money laundering and other criminal activities.
There is no single approach when it comes to taxes imposed on digital currencies. For example, in Portugal, there is no value-added tax (VAT) for crypto trading. Also, payments in cryptocurrencies are free from VAT.
Another good news for crypto owners is that in Portugal they do not have to pay the income on cryptocurrency earnings.
