Crypto Exchange Launch Shows Riot Blockchain Still Clings to the Bitcoin Dream

Riot Blockchain, a former biotech firm turned bitcoin-mining company, expects to launch a regulated cryptocurrency exchange by the end of the second quarter of 2019, or June 30. The company is initially investing up to $250,000 to make this roll-out happen. Riot Blockchain made the revelations in a March 14 filing with the Securities and Exchange Commission. The company formed a subsidiary called RiotX Holdings to operate the exchange, which has partnered with software provider Shift Markets. Once the RiotX exchange goes live, its 2019 operational budget is expected to…

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Shock Court Ruling Holds Crypto Exchange Liable in Singapore’s First Bitcoin Trial

A court has ordered the unhappy operator of crypto exchange Quoine to follow through with a glitched computer transaction that allowed a crypto market liquidity provider to swap ether for bitcoin at a rate of 10 bitcoin to every ether at a time when 1 ETH was worth .036 BTC, not 10. In the Republic of Singapore’s first trial regarding bitcoin, the Singapore International Commercial Court (SICC) issued a judgment Thursday to press Singaporean crypto exchange Quoine to execute a trade its computers allowed in error. A Crypto Exchange Error…

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Crypto Winter Freezes New York Bitcoin Mining Industry

A unique characteristic of many upstate New York cities is their low energy rates. Hydroelectric dams along the St. Lawrence river give residents electricity so cheap that many even heat their homes with it. The region made perfect sense for crypto miners during the “gold rush” days of 2017 and early 2018, and the increased demand from the Bitcoin mining industry created the problem of increased electricity demand driving up the costs. Mining Premiums & Government Action + Crypto Winter = Toxic Environment for Bitcoin Miners Some municipalities like Lake…

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4 Crypto Tax Tricks from Deloitte That Will Maximize Your Tax Return

CCN spoke to Deloitte tax partner Jim Calvin about the problems and strategies associated with cryptocurrency for his clients, particularly when it comes time for them to submit their annual tax returns. Deloitte Tax Partner Spends More Than Half His Time Working on Crypto Calvin got into cryptocurrency in 2014, when he was based in Asia. He says he began to get questions about Bitcoin from clients, and that he gained a personal interest as the first major crypto winter set in. “In places like Hong Kong, Singapore, and Bangkok,…

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Philadelphia Bans Cashless Businesses – Bad for Bitcoin?

The Wall Street Journal reports today that Philadelphia is the latest jurisdiction to pass a law against not accepting cash. Most retailers in the city must accept cash beginning in July. Democrats are leading the charge on these laws, viewing them as a way to protect people who don’t have credit or debit cards. Philadelphia Joins Northeast Cash Coalition Philadelphia’s not alone in its war on cashless businesses. New York City councilman Ritchie Torres admits that cashless payments are the future but is nevertheless backing a proposal requiring local businesses…

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The Best Way to Know Bitcoin is a Conservative Investment

Before looking at the best way to know bitcoin is a conservative investment (a very impressive 10 year bitcoin trend that has many investors pouring money into bitcoin)… Here’s the best way to know bitcoin is not a conservative investment, but a terrible get rich quick scheme, “probably rat poison squared” even, as Warren Buffet calls bitcoin: Best Way to Know Bitcoin Is Rat Poison Squared You see bitcoin or another cryptocurrency’s ATH (All Time High) prices going higher and higher, and you think now’s not a bad time for…

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5 Years Later, Mt. Gox Victims Still Want to Know: ‘Where’s our Bitcoin?’

It seems like just yesterday when Bitcoin investors were startled by the news that Mt. Gox, one of the world ’s first Bitcoin exchanges, was in serious trouble. Five years ago, on Feb. 24, 2014, reports began circulating that the Bitcoin exchange had lost three-quarters of a million bitcoins. One day later, the company – perhaps the closest thing to a single point of failure in the Bitcoin industry – announced that it was shutting down operations. I hope this isn't true, but I received report allegedly from Mt. Gox…

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Texas Crypto Fund Unveils Two New Ways to Value Bitcoin

In a paper published this week, Tuur Demeester’s US crypto fund, Adamant Capital, suggests two new ways of determining the relative market value of Bitcoin. One measures investor sentiment; it’s called Relative Unrealized Profit/Loss Ratio. HODLer Position Change (HPC) is perhaps more interesting. Adamant finds HPC by measuring blockchain “liveliness.” They explain the concept as such: “A blockchain where all the coins move within a single block has at that moment a Liveliness of 100%. A blockchain of two years old with no new block rewards, and where exactly one…

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