UP Alliance Members to Lock Mega-Utility Tokens for a Year

Universal Protocol Token is a mega-utility token offering attractive interest rates when lending and borrowing, lower exchange fees, cashback and discounts on trading. The large holders of UPT in the UP Alliance have gotten together and committed to lock their tokens and not sell any UPT for at least a year. Also Read: Mega-Utility Token UPT Will Offer Interest and Discounts on Trading UP Alliance Members to Lock UPT Tokens The Universal Protocol Alliance is a group of like-minded cryptocurrency companies and blockchain organizations that want to connect different digital…

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Bitcoin Mining Operations Offer New Strategies Before Reward Reduction

As the reward halving approaches, bitcoin miners are preparing new strategies so customers can reap the most profits from their hashrate services. On December 3, the mining operation Poolin introduced a hashrate auto-switch feature so clients can automatically switch between BTC and BCH mining. Moreover, a few days later at Bitmain’s annual customer appreciation meeting, the company’s CEO Jihan Wu explained the firm is offering three strategic mining offerings. Also read: Mining Chip Maker Ebang Next in Line to File for US IPO Poolin’s Auto-Switch Feature Bitcoin mining is extremely…

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23 Days Until a Bonded Courier Supposedly Delivers Keys to $8 Billion in BTC

In 23 days, the infamous self-proclaimed Bitcoin inventor Craig Wright will allegedly receive 1,100,111 BTC from a trust purportedly held in Seychelles. In fact, many Wright supporters and BSV proponents wholeheartedly believe Wright will “gain complete ownership of the trust,” and to a few of these individuals, the funds could be used to bring the price of BTC down to zero. Also Read: A List of Self-Proclaimed Bitcoin Inventors and Satoshi Clues Debunked in 2019 The Tulip Trust Countdown Begins For over four years now, Craig Wright has made a…

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Op Ed: Bringing DeFi to Bitcoin Opens Up New Frontiers

Decentralized finance (DeFi), while still in its early days, promises to redevelop critical financial services in a way that is trustless, transparent and controlled by the consumer. This has major implications for people across the world with limited access to financial services but also to crypto traders and savvy investors who are looking for new tools and new ways of finding an edge. DeFi covers any conventional financial tools built on a blockchain, but in its present forms, almost all have been built on Ethereum. This has been a major…

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Nexo Now Offers Bitcoin Cash Instant Crypto Credit Lines

Bitcoin Cash community members are able to borrow against their favorite digital asset in more than 40 fiat currencies across more than 200 jurisdictions. This is thanks to Nexo which now offers BCH Instant Crypto Credit Lines with one of the lowest annual percentage rates in the industry. Also Read: Save the Children Now Accepts Bitcoin Cash Donations Borrow Against Your BCH With Nexo Nexo, the most successful crypto lender in the world, is expanding its ever-growing service by adding bitcoin cash (BCH) to the list of accepted collateral for…

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Weiss Ratings Downgrades EOS to ‘C-‘

Weiss Ratings has downgraded EOS once again, taking its ranking from a B to a C-. The group cites “failure to decentralize,” “misallocation of resources,” and a congested network as reasons for the fall in rank. “Weiss Crypto Ratings model is not based on opinion. It’s driven by data,” the group claims. In this article we’ll look at EOS, as well as top coins by market cap to see how Weiss — and other voices in the space — view their progress. Also Read: Bitcoin Cash Represents 93% of November’s…

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Echo Launches Bitcoin Sidechain, a Weighted Approach to More Functionality

In late November 2019, the Bitcoin-based DApp network Echo announced the launch of a Bitcoin sidechain on its blockchain testnet. It framed the release as a critical step in its mission to establish decentralized financial applications that leverage BTC as a native asset for lending, trading and more.  “The launch of the Bitcoin sidechain on Echo testnet is the first step towards building the most trust-minimized sidechain for Bitcoin in existence,” Alexei Dulub, founder and CEO of PixelPlex, the blockchain development firm behind Echo, told Bitcoin Magazine. “Getting BTC into…

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IRS Now Requires Tax Filers to Disclose Crypto Activities

The U.S. Internal Revenue Service (IRS) has finalized and put in use a new tax form that requires crypto owners to declare whether they received, bought, sold, exchanged, or acquired any cryptocurrencies in 2019. Tax experts are frustrated at the vagueness of the tax agency, with some questioning whether the answers would increase the chances of being audited by the IRS. Also read: IRS Dispels Crypto Tax Confusion New Tax Form With Crypto Question The IRS published a new tax form containing a question about cryptocurrency on Thursday. The Schedule…

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Bitcoin Addresses With Any Balance Hit All-Time High

According to data compiled by Coin Metrics, a crypto asset market analysis firm, the number of Bitcoin addresses that hold any amount of satoshis reached a new all-time high between October and November 2019. According to the data, more than 28,393,045 addresses held some balance of bitcoin in that period, eclipsing a previously achieved all-time high of 28,384,557 accounts in January 2018. Shared on Twitter by Avon Ventures investor Alex Thorn, this graph hints at a rise in Bitcoin popularity in terms of actual use. The previous all-time high occurred…

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Regulatory Roundup: Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency

In this regulatory roundup, we cover the U.S. SEC approving a bitcoin futures fund, the new IRS tax form targeting crypto owners, and several more steps taken by the U.S. government toward crypto regulation. We also cover India’s central bank digital currency plan, South Korea’s crypto taxation plan, and the European Commission’s announcement regarding stablecoins. Also read: Regulatory Roundup – Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia SEC, IRS, Financial Stability Council, Senate Several U.S. regulators took some notable steps pertaining to their cryptocurrency oversight…

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