Bitcoin Price Increases and Forecasts Are Shattered

By Moris Beracha.-

Some cryptocurrency research analysts predicted that in 2019 these crypto assets would keep a downfall trend and in the best of cases would hold a steady price.

However, April 2 marked a major rise in bitcoin’s Price, which seems to represent new capital injection to the rest of the altcoin market.

Just 24 hours before the aforementioned day, bitcoin was traded towards the USD 4.150; then, in less than one hour, it reached USD 4,850 and dropped to USD 4,750, but at the moment of writing this article BTC is traded at USD 7,924.10.

As most cryptocurrencies, there is still a high correlation between the traditional assets market and bitcoin and this token is the most liquid cryptocurrency in the market. The crypto market is benefiting from this rise.

So far, there are unclear reasons for this sudden increase of bitcoin’s price. Some media have related this increase to fool jokes and fake news on the approval of a BTC EFT in the US market, but it seems that this rise is caused by market dynamics.

Bitcoin’s price has been on a steady rise for three months, but in comparison to this same date last year, those who could afford to buy at that time are still losing over 30%.

A report, authored by Adamant Capital founders Tuur Demeester and Michiel Lescrauwaet, argues several reasons for optimism on the future of bitcoin.

The report highlights that bitcoin is in a heavy accumulation phase with a volatility drop, after showing a major decline in December last year.

Likewise, Adamant states that bitcoin is very likely to head lower in a cycle that seemed auspicious.

“We think bitcoin has entered the accumulation phase of the bear market and has recovered from capitulation; bockchain data show holders are looking at long-term horizons again, according to our drawdown and volatility analyses,” suggested the report by Adamant Capital.

These results suggest that bitcoin is the strongest cryptocurrency and is here to stay for many years.

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Malta regards cryptocurrencies as the future of money

Moris Beracha.-

The discussion on the regulation and use of cryptocurrencies in Europe and other countries worldwide is ignited and many countries regard these digital assets as significantly important in the economic future of countries.

At the meetings of the General Assembly of the United Nations Organization, held in New York City this 2018, the Prime Minister of Malta, Joseph Muscat, said that digital assets will inevitably be the future of money thanks to Blockchain technology and for that reason the governments of the world should pay special attention to this issue.

“I passionately believe technology revolutionizes and improves systems. That’s why in Malta, we have launched ourselves as the Blockchain Island. By being the first jurisdiction worldwide to regulate this new technology that previously existed in a legal vacuum. Blockchain makes cryptocurrencies an inevitable future of money. More transparent, it helps filter good business from bad business,” Muscat told CCN.

It is important to recall that in 2018, the Maltese authorities also passed three bills in favor of cryptocurrencies and blockchain technology, introduced by Silvio Schembri, the Parliament Secretary for Financial Services, Digital Economy and Innovation.

The new laws regulate ICOs, cryptocurrencies and business practices to form bitcoin-oriented companies.

Muscat highlighted that his country is passionate about the potential of blockchain technology and its ability to provide transparency and complete freedom to users about information and money.

He also added that Blockchain could soon create solutions to replace the infrastructure existing in different fields, such as health and charity.

“Blockchain can provide solutions to health care systems where patients have real ownership of their medical records. Emmissions trading systems can be taken to the next level. We can help verify that humanitarian assistance is reaching its intended destination. It’s possible to make sure that nobody is deprived of their legitimate property because of compromised data,” he said.

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Cryptocurrencies not outside the law

By Moris Beracha.-

The different cryptocurrencies that are currently exchanged in the market do not move outside the multiple businesses that are striving to massively boost token as a payment option.

According to Rubén Guía Chirino, attorney and advisor for Dash Venezuela, 99% of cryptocurrency transactions are involved in legal activities; therefore, those who associate the use of digital currencies with illegal activities only have a bias towards the new technology.

Guía Chirinos said many countries in the world are lobbying to establish a cryptocurrency regulatory framework. He acknowledges it is a matter of time for lawmakers to agree on developing rules on crypto exchange.

He also suggests possible legal scenarios for possible applicability of these rules. For example, cryptocurrency mining activities can be taxed by the treasury or they can be regarded as swaps.

The international cryptography regulation context is advancing rapidly, since digital currency has become a fast-growing asset in recent times.

Recall cases like the United States, where cryptocurrencies are commodities and can therefore be taxable. Moreover, there is the case of Spain, where cryptocurrencies are exempt from VAT, except mining activity.

In short, cryptocurrency adoption in these legal aspects depends on the exercise of the individual right to property. It is also a citizen practice that leads to the creation of new laws and contracts that regulate these financial activities.

Certainly, through free exchange, and the emergence of startup ventures it is possible to move forward in this matter.

See more at: http://morisberacha.com

Article published in: https://crypto.bi/tape/blog/law/

Coin money laundering is driven by cryptocurrency exchange theft

By Moris Beracha.-

According to a quarterly report released by Cipher Trace, the quantitative investment firm, specializing in the systematic trading of cryptocurrencies, in the first half of 2018, more than $760 million in cryptocurrency was stolen from exchanges, nearly three times more than in 2017.

The growth in the demand for currency in the industry of services has driven, according to this report, money laundering of coins. Also, the services that clean dirty funds are widely available, said CipherTrace, and some have even advertised through Google AdWords.

Likewise, many exchanges, and new ones are opening all the time, have security vulnerabilities. And cryptocurrencies, once stolen, often cannot be returned or even traced to the thieves.

“There are so many cryptocurrencies now, and they are worth so much money, and there are so many exchanges globally where you can cash out, that we’ve seen not just traditional cyber gangs, but we’ve seen a new set of criminals enter this space,” chief executive officer David Jevans told Bloomberg agency. “This overall market expansion has created a whole new generation of cyber criminals that didn’t exist 15 months ago.”

Currently, the current market value of the top 100 cryptocurrencies is about $ 270 billion, according to CoinMarketCap.com.

Regulators have said that many exchanges and startups issuing new coins still do not do enough to check customer identities and verify that users are not laundering stolen funds. Users buying and selling coins are typically represented by anonymous addresses.

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First purchase with Bitcoin turns eight years

By Moris Beracha.-

Last Tuesday marked the eighth anniversary of the first purchase made with bitcoins: two pizzas for 10,000 bitcoins. At the time of the first purchase of pizza, the most important cryptocurrency was worth only a few cents.

Laszlo Hanyecz, the first buyer of the pizzas, became a legend among the early Bitcoin miners. Today, he is known as the man who squandered a number of assets that are currently valued at $ 82 million.

At that same price around 6.5 million pizzas of $ 12.50 each could be brought.

According to the ElFinanciero.com, Bitcoin Pizza Day has become a celebration of how much the price of cryptocurrency has soared, even after falling from its record earlier this year.

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Can your computer mine Bitcoins?

By Moris Beracha.-

Since the arrival of Bitcoin, computers now have another function: to make small amounts of money with cryptocurrencies. However, mining is not as simple as turning on a computer.

Your computer hardware is a key factor when mining and will make the difference between making money with cryptocurrency or even losing money.

Computer Hoy explains that to mine Bitcoin or any other cryptocurrency your computer must be permanently solving algorithms that will limit the processing capacity of your hardware. The more efficient it is in solving those calculations, the greater the reward.

In the case of bitcoins, one or several high-end graphic cards are required to increase mining capacity and computational processing of the computer.

To know if the capacity of a hardware is profitable for bitcoin mining, the internet has calculators that will help any user. It is recommended to visit the NiceHash profitability calculator, one of the easiest options to check the profitability of your PC for bitcoin mining.

Article published in: http://www.medium.com