The tax authority in the United Kingdom, HM Revenue and Customs, will not accept cryptocurrency as payment any time soon. Lord Michael Bates, a minister of state, addressed the question of digital currency payment in a written response to a question from a member of Parliament, Lord Jonathan Harris. Lord Bates wrote: “HM Revenue and Customs does not offer digital currencies as a payment method and has no current plans to do so.” Profits made on speculation in cryptocurrency “are Read more …
Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. A hacker successfully injected malicious files into the official Bitcoin Gold wallet repository and download file, potentially placing users at extreme risk of having funds or personal data stolen. Bitcoin Gold Wallet Download File Hacked On November 26, Bitcoin Gold’s development team posted a “Critical Warning” revealing that for four-and-a-half days — from November 21 to November 25 — users who downloaded the official Windows wallet from Read more …
As the whole finance and tech world is currently focusing on Bitcoin, Ethereum has managed to hit a new all-time high price as well. The Rise of Ethereum Bitcoin isn’t the only cryptocurrency that is currently in the news spotlight. The digital currency Ethereum has also gained a lot of momentum over the last couple of months. Analysts and experts believe that the reason for the astronomical rise of Ethereum is the recent hype around Initial Coin Offerings or ICOs. Read more …
Key Highlights ETH price made a sharp downside move and broke the $458 and $420 support levels against the US Dollar. There was a break below a major bullish trend line with support at $462 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair started recovering after trading as low as $398.04 and forming a base. Ethereum price declined sharply against the US Dollar and Bitcoin. ETH/USD is recovering but might face sellers near $458-465. Ethereum Price Read more …
Taxes As the cryptocurrency economy’s market capitalization surpasses $320Bn, lots of digital asset proponents are trying to figure out ways to write off capital gains and stay tax compliant. This week the cryptocurrency and blockchain accounting firm, Libra, has launched a new compliance application for market makers and exchanges. Additionally, the company raised $7.8Mn in a Series A funding round to promote expansion. Related: 4 Apps Helping Bitcoiners With Tax Compliance Libra Reveals New Tax Software for Read more …
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During the summer of 2013, while cleaning out his desk, a Welsh man named James Howells threw away a hard drive from his broken Dell Laptop. Unfortunately, he realized several months later that the drive held 7,500 Bitcoin mined back in 2009. At the time, with Bitcoin approaching and finally just exceeding $1,000 in price, the scrapped hard drive would have been worth over $7 mln. The story created a lot of hype about the rising the value of Bitcoin Read more …
Key Points Bitcoin cash price declined further and moved below the $1450 support area against the US Dollar. There is a new connecting bearish trend line forming with resistance near $1475 on the hourly chart of BCH/USD (data feed from Kraken). The price might correct a few points in the near term, but upsides are likely to be capped by $1450-1480. Bitcoin cash price is under pressure below $1500 against the US Dollar. BCH/USD might continue to decline as long Read more …
The Nasdaq exchange may begin to offer Bitcoin futures as early as June 2018, according to a report issued by the Wall Street Journal. The report indicates that the stock exchange will follow suit behind the two Chicago-based markets that have already indicated the specifics of their Bitcoin futures plans. While regulatory approval is still pending, the reality that Bitcoin futures are an in-demand option has driven a number of exchanges to at least consider the possibility. According to John Read more …
Bitcoin Price Key Highlights Bitcoin price has retreated sharply from a similarly steep climb but is regaining ground once more. Bulls appear to have returned on a pullback to the $9350 area and could take price back up to the nearby resistance levels. Applying the Fib extension tool shows how high bitcoin price could go from here. Bitcoin price appears to have completed its pullback from the strong rally recently, allowing the uptrend to resume. Technical Indicators Signals The 100 Read more …
Bitcoin surpassed $10K yesterday. To many, the event was a mark of Bitcoin’s accomplishments. But yet, others are concerned that bitcoin has become too speculative, and a pop in the bubble could be damaging. Introduced in 2009, bitcoin sort of flew under most people’s radars for several years, until 2012, when it became associated with Silk Road, the now-defunct dark marketplace. This year the decentralized currency captured widestream attention, skyrocketing from $1,000 in February to where it sits today. Some, like Read more …
Coinbase has won a partial victory in their ongoing legal battle with the IRS regarding the disclosure of private user information. According to Coinbase, the government initially sought records on over 500,000 users in their efforts to catch tax cheats. After months of legal wrangling, Coinbase announced that the IRS has reduced their records request to only 14,000 users, a 97% reduction. Coinbase also announced that the amount of documentation requested by the IRS has been substantially reduced. The company’s Read more …