IRS Explains What Crypto Owners Must Know ... - Bitcoin News


The War On Shitcoins Episode 7: Weed-Themed Coins including Including PotCoin (POT), Paragon (PRG), SMOKE, Tokes (TKS), HempCoin (THC), Marijuana Coin (MAR), CannabisCoin (CANN), CannaCoin (CCN), DopeCoin (DOPE), BlazerCoin (BLAZR), GreenMed (GRMD), Growers International (GRWI), Cannation (CNNC), Bongger (BGR), Sativacoin (STV), KushCoin (KUSH), GangaCoin (MRJA), Budbo (BUBO). The war on shitcoins is a Crypto.IQ series that targets and shoots down cryptocurrencies that are not worth investing in either due to their being scams, having serious design flaws, being centralized, or in general just being worthless copies of other cryptocurrencies. There are thousands of shitcoins that are ruining the markets, and Crypto.IQ intends to expose all of them. The crypto space needs an exorcism, and we are happy to provide it.
There are numerous cryptocurrencies that are nothing more than copies of other cryptocurrencies with marijuana logos slapped on. Perhaps the developers of these cryptocurrencies were running dry and decided to do an ICO or premine in order to fill their war chest with marijuana. Whatever the motives may be, the human race has created 18 weed-themed cryptocurrencies. Each one will be reviewed and properly burned below.
Potcoin (POT) is one of the earliest marijuana-themed cryptocurrencies, having launched in 2014, and has a market cap of $2.7 million. Shockingly, the POT market cap approached $100 million during the 2017 crypto craze. POT is branded as a global solution for the $100 billion global marijuana industry, but obviously, the global marijuana industry has never embraced Potcoin based on the volume of less than $3,000 per day as of this writing. It is actually nonsensical that marijuana enthusiasts would want to be holding and transacting POT since having POT labeled on all of their transactions is much less anonymous than using Bitcoin. POT started as PoW and eventually switched to PoS and has no unique capabilities or characteristics. Since POT’s only unique trait is a weed logo, it is clearly a shitcoin. For each weed-themed cryptocurrency CryptoIQ will give it a classification stoners understand. Since POT is one of the earliest and most popular weed coins and has the second highest weed coin market cap, the classification is burning blunt.
HempCoin (THC) is not far behind POT, with a market cap of $2.3 million and similar minuscule volume of $12,000 per day. THC launched in 2014 and is meant to revolutionize the weed and hemp industry by providing a decentralized payment system. Like POT, there is no reason marijuana entrepreneurs would choose to transact with THC versus Bitcoin, especially since liquidity is so low they would lose money. Apparently, THC is PoW and PoS, but has no unique capabilities. The classification of THC is half-smoked blunt.
SMOKE has a market cap of $840,000 and is listed on some decentralized exchanges. It seems like SMOKE is meant to be the weed version of Steemit. It appears the website did launch and is functioning as a social network for stoners, who can smoke and earn SMOKE. Perhaps SMOKE has potential, so it gets the classification fresh pinner joint. However, the entire concept of people motivating each other to smoke drugs to earn cryptocurrency seems like something the world does not need.
Paragon (PRG) is a bit more advanced than the other weed coins since it integrates smart contract technology and can be used to build dApps for the marijuana industry. Perhaps PRG can be nicknamed Weedthereum. PRG has the highest weed coin market cap at $5.2 million although volume is only $21,000 per day. The SEC stomped on PRG’s blunt and issued severe penalties for the unregistered ICO. PRG must return investments to the investors, and since $12 million was raised and PRG has lost over half that value, it seems Paragon is at risk of going bankrupt. This yields the classification of blunt soaked with trash juice.
Tokes (TKS) is a weed coin launched via the WAVES blockchain that has a market cap of $775,000 but less than $400 per day of daily trading volume. Someone dumping the TKS they received from selling a QP of weed could crash the market. Apparently, TKS aims to be a supply chain tracking tool for the marijuana industry, in addition to being a compliant currency for dispensaries, but it is obviously not used much. For now, TKS is classified as hitting a roach.
DopeCoin (DOPE) launched way back in 2014 and today is practically dead with a market cap near $420,000 (seriously) and less than $1,000 of daily trading volume. DOPE transitioned from a PoW to PoS cryptocurrency, and the website is poorly made, unlike the weed coins listed above which have well-built websites. There are no redeeming qualities to DOPE, and its classification is accidentally inhaled the roach.
CannabisCoin (CANN) has a market cap less than $400,000 and volume less than $4,000 per day. CANN’s goal is to be used to purchase marijuana at dispensaries, and there used to be a product line of weed strains called CANNdy which were supposed to be traded at one gram per one CANN. Now one CANN is worth half of a penny, so that probably did not work out well. Shockingly, CANN’s market cap hit $30 million in early January 2018, so it has seen an epic collapse this year. This gives CANN the classification paid for fireweed but got schwag.
GanjaCoin (MRJA) is the first weed coin in the list that is nearly dead. Based on the Bitcointalk thread, it is listed on a couple of obscure exchanges. GanjaCoin had ambitious plans to open a dispensary in which each gram of weed was backed by one MRJA. GangaCoin is unique among the weed coins since it used masternodes, much like Dash. It is obvious that practically no one is using MRJA, giving it the classification old roach in a storm drain.
Growers International (GRWI) is designed for marijuana growers and has some increased capabilities versus other weed coins such as smart contracts, a blockchain repository for cannabis strains, and supply tracking from seed to sale. The idea is legitimate, but the market cap of $88,000 and less than $1,000 of daily trading volume indicates GRWI has failed to take root. This is perhaps due to a swap to an ERC-20 token being required to use any of the dApps, since apparently, the developers could not do it on their own chain. The swap does not appear to be going well, and therefore, GRWI is classified as burnt fingers on the roach.
KushCoin (KUSH) is a weed coin that had Weedthereum aspirations, but now the website is dead, the devs have disappeared behind a cloud of weed smoke, and KUSH has been completely delisted. The only appropriate classification is roach buried in a garbage dump.
GreenMed (GRMD) has a market history similar to the half-life of radioactive waste, and currently has a market cap of only $40,000 and daily trading volume less than $300. Apparently GreenMed is among the cryptocurrencies that aimed to have an attached debit card, and just like TenX and Monaco, this ended up being disastrous. The website has been converted to a simple marijuana e-commerce store with no mention of cryptocurrency, indicating the developers gave up on the crypto debit card idea. GRMD seems to be completely dead, and the classification is roach thrown out of a car on the highway.
CannaCoin (CCN) is a PoS cryptocurrency with probably no people staking. It may be listed on a random obscure exchange. It appears CCN did not have any unique characteristics yet still hit a market cap of $2 million in January 2018. This is more proof of how detached from reality the crypto rally was since now CCN is certainly dead. The classification is roach at the bottom of a trash can filled with garbage.
SativaCoin (STV) has no redeeming qualities, despite being named after a potent strain of marijuana. It was PoS, and that’s about it. During the crypto rally STV nearly hit a $1 million market cap, but the developer team is gone and presumably smoking the portion of the market cap they cashed out. STV is completely delisted and valueless, giving it the classification shredded roach on the side of the road soaked with trash juice.
Cannation (CNNC) raised less than a Bitcoin during their mid-2017 ICO, perhaps enough to smoke the dev team out for a month, and now the website is gone. CNNC was just a PoW/PoS hybrid that had no unique capabilities. Really, CNNC is an obvious ICO scam, giving it the classification bought a weed roach but got a spice roach.
Bongger (BGR) is named after someone taking a huge rip from a marijuana water pipe, and perhaps that is exactly what the dev team is doing since the devs are still around four years after launch and seem chill about the fact that BGR is worth nothing. The classification for this cryptocurrency is passed out on the couch and covered with doritos.
Marijuanacoin (MAR) hit a market cap of $900,000 in January 2018, perhaps for no other reason than it has the word marijuana in its name. The MAR dev briefly showed up in October 2017 and proposed to hard fork the blockchain, and apparently asked for donations, before disappearing forever. MAR continues to be listed on Cryptopia but has no volume, meaning it is worthless. This gives MAR the classification wind gust blows your joint into a lake.
BlazerCoin (BLAZR) has no website and no announcement thread but is listed on YoBit despite zero volume. This gives BLAZR the special classification prison joint made of toilet paper and the scrapings from a green apple.
Budbo (BUBO) is listed on Cryptopia and HitBTC, with a whopping $63 of volume, enough to buy an eighth. Budbo is branded as a decentralized autonomous organization (DAO) for the weed industry. BUBO was sold in an ICO, and appears to have collected a whopping $37 million from investors. This is perhaps since the ICO occurred in late December 2017 and January 2018, when investors were overloaded with cash and enthusiasm. The developers still periodically show up and say they are “working on it,” but nothing has been developed, and the website is mediocre. Budbo is certainly the biggest scam in weed coin history and therefore earns the classification got mugged by drug dealer.
submitted by turtlecane to CryptoCurrency [link] [comments]

The Exhaustive EOS FAQ

The Exhaustive EOS FAQ

With the large number of new readers coming to this sub we need to make information easy to access so those readers can make informed decisions. We all know there is an unusually large amount of Fear, Uncertainty and Doubt (FUD) surrounding EOS. Frankly, when clear evidence is provided it’s not that difficult to see EOS for the extremely valuable project it is. This post hopes to begin to put an end to all the misinformation by doing the following:  
  • Giving a clear and concise answer to the most frequently asked questions in regards to EOS.
  • Giving a more in-depth answer for those who want to read more.
  • Allowing readers to make informed decisions by making credible information easy to access.
As EOS climbs the ranks we need to recognise there are going to be a lot of skeptical readers coming over and posting their questions. Sometimes they will be irrational, hostile and often just looking for a reaction. We should make it our responsibility to welcome everyone and refrain from responding emotionally to provocative posts, instead providing factual and rational answers.
I will add to this post as and when I can, if you have any ideas or spot any mistakes let me know and I'll get them fixed ASAP. Im planning to add a bit on the team, centralisation and DPOS, governance and EOS VC shortly but please let me hear your suggestions!


1. How do you registeclaim your EOS tokens before June 2018?

Answer courtesy of endless. If you have not done so, you will need to create a new pair of EOS public and private keys and register them with an Ethereum address. This only needs to be done once.
On or around June 1, 2018 all EOS Tokens will become frozen and non-transferable on the Ethereum blockchain. Not long after, I suspect that EOS community members will create a snapshot of token balances that carry over onto a new community generated and selected EOS blockchain. will not be launching EOS blockchains or operating any of their nodes. Additionally, this is a community subreddit unaffiliated in an official capacity with
Method #1: MetaMask (recommended)
Video guide:
steemit tutorial:
Method #2: MyEtherWallet
steemit tutorial:
Method #3: Exodus Wallet
Official website tutorial:
Important note courtesy of dskvry bka Sandwich, the author of Method #2's steemit tutorial:
claimAll will not work for most users. When you get to the claim step, please use the following tutorial:
Did you buy your EOS tokens on an exchange? (Courtesy of IQOptionCoin)
  1. Go to the EOS website
  2. Scroll down and select "GET EOS"
  3. Tick all the required boxes and click "Continue"
  4. Scroll down and click "Register"
  5. Select Metamask, MyEtherWallet, or Ethereum Wallet
  6. Follow the guide.
  7. Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
There are a lot of submissions about this in /eos, so rather than making a new one please reply to this thread with any questions you may have. Don't forget to join the EOS mailing list: and join the EOS community on your platform(s) of choice: Telegram, Discord and/or Facebook.
And remember, if anyone instructs you to transfer ETH to an EOS contract address that doesn't match the address found on you are being scammed.


How to registeclaim your EOS tokens before June 2018 by endless
Official EOS FAQ

2. How will the token the ERC-20 EOS tokens be transferred to the native blockchain?


Quick answer:

There isn't one! Read the long answer then read it again, registering your Ethereum wallet is mandatory!

Long answer:

Within 23 hours after the end of the final period on June 1, 2018 at 22:59:59 UTC, all EOS Tokens will become fixed (ie. frozen) and will become non-transferrable on the Ethereum blockchain.
In order to ensure your tokens are transferred over to the native blockchain you must register your Ethereum address with an EOS public key, if you do not you will lose all your tokens! I am not going to link any tutorials as there are many that can be found by searching Google and YouTube. is helping with the development of snapshot software that can be used to capture the EOS token balance and registered EOS public key of wallets on the Ethereum blockchain. It is then down to the community to create the snapshot. This snapshot can be used when generating a genesis block for a blockchain implementing software. will not be launching EOS blockchains or operating any of their nodes.
Exchange Support
Some exchanges have announced that they will support the token swap. Although using this method will undoubtedly be much simpler than registering the tokens yourself it also comes with its pitfalls.
  • It is highly likely there are going to be multiple networks running on the software that use the snapshot. It is highly unlikely that exchanges will support them all.
  • It is highly likely that exchanges will not support airdrops that use the snapshot.
Exchanges that have announced support for the token swap include:


3. What does EOS aim to achieve?


Quick answer:

EOS.IO software is aiming to provide a decentralized operating system which can support thousands of industrial scale DApps by enabling vertical and horizontal scaling.

Long answer:

EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.


Official EOS FAQ

4. Who are the key team figures behind EOS?

  • CEO Brendan Blumer - Founder of ii5 (1group) and He has been in the blockchain industry since 2014 and started selling virtual assets at the age of 15. Brenden can be found on the Forbes Cypto Rich List. Brendan can be found on Twitter.
  • CTO Dan Larimer - Dan's the visionary industry leader who built BitShares, Graphene and Steemit as well as the increasingly popular Proof of Stake Governance and Decentralised Autonomous Organization Concept. He states his mission in life is “to find free market solutions to secure life, liberty, and property for all.”. Dan can also be found on the Forbes Cypto Rich List. Dan can be found on Twitter and Medium.
  • Partner Ian Grigg - Financial cryptographer who's been building cryptographic ledger platforms for 2+ decades. Inventor of the Ricardian Contract and Triple-Entry Accounting.


Forbes Crypto Rich List

5. Where can the latest EOS news be found?


6. Which consensus mechanism does EOS use and what are Block Producers?


Quick answer:

Delegated Proof of Stake (DPOS) with Byzantine Fault Tolerance. Block Producers (BPs) produce the blocks of the blockchain and are elected by token holders that vote for them. BPs will earn block rewards for their service, these block rewards come in the form of EOS tokens produced by token inflation.

Long answer:

Taken from the EOS.IO Technical White Paper v2:
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.
The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain.
Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers.
Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."

7. How does the voting process work?

The voting process will begin once the Block Producer community releases a joint statement ensuring that it is safe to import private keys and vote.
Broadly speaking there will be two methods of voting:
  1. Command Line Interface (CLI) tools
  2. Web portals
EOS Canada has created eosc, a CLI tool that supports Block Producer voting. Other Block Producer candidates such as LibertyBlock are a releasing web portal that will be ready for main net launch. There will be many more options over the coming weeks, please make sure you are always using a service from a trusted entity.
Remember: Do not import your private key until you have seen a joint statement released from at least five Block Producers that you trust which states when it is safe to do so. Ignoring this warning could result in tokens lost.

8. What makes EOS a good investment?

  • Team - EOS is spearheaded by the visionary that brought us the hugely successful Bitshares and Steem - arguably with two projects already under his belt there is no one more accomplished in the space.
  • Funding - EOS is one of the best funded projects in the space. The team has committed $1B to investing in funds that grow the EOS echo system. EOS VC funds are managed by venture leaders distributed around the world to insure founders in all markets have the ability to work directly with local investors. Incentives such as the EOS hackathon are also in place with $1,500,000 USD in Prizes Across 4 Events.
  • Community Focus - The team is aware that the a projects success depends almost entirely on its adoption. For this reason there has been a huge push to develop a strong world wide community. There is already a surplus number of block producers that have registered their interest and started to ready themselves for the launch and incentives the EOS hackathon are being used to grow the community. A index of projects using EOS can be found at
  • Technical Advantages - See point 9!

9. What are the unique selling points of EOS?

  • Scaleability
    • Potential to scale to millions of transactions per second
    • Inter-blockchain communication
    • Separates authentication from execution
  • Flexibility
    • Freeze and fix broken applications
    • Generalised role based permissions
    • Web Assembly
  • Usability
    • Elimination of transaction fees
    • True user accounts with usernames, passwords and account recovery (no more having to remember long cryptographic keys)
    • Web toolkit for interface development

EOS Whitepaper

10. Is there currently a working product?


Quick answer:

This depends entirely on your definition of working product. If a fully featured developer release meets your definition then yes!. Otherwise the public release will be June 2018.

Long answer:

EOS differs from other projects in that it aims to deliver a fully featured version of the software on launch. The Dawn 3.0 RC1 feature complete pre-release became available on April 5th. This version has all the features of the final release that is due June 2018. Further development will involve preparing the final system contract which implements all of the staking, voting, and governance mechanics. The common notion that there is no viewable code published is wrong and the initial Dawn 1.0 release has been available from September 14th 2017.
EOSIO V1 - June 2nd 2018
Dawn 3.0 RC1 - April 5th 2018
Dawn 3.0 Alpha - January 23rd 2018
Dawn 2.0 - December 4th 2017
Dawn 1.0 - September 14th 2017



11. EOS is an ERC-20 token, how can it possibly be a competitor to other platforms?


Quick answer:

The ERC-20 token is used only for raising funds during the token distribution; all tokens will be transferred to the native blockchain once launched.

Long answer:

EOS team has clearly stated their reason for choosing the Ethereum network when they described the rationale behind the ICO model. Specifically, the ICO should be a fair and auditable process, with as little trust required as possible. If you believe that an ICO should be fair, auditable, and trustless, you have no choice but to use a decentralized smart contract blockchain to run the ICO, the largest, and by-far most popular of which is Ethereum. Since EOS is intended to be a major competitor for Ethereum, some have seen this as a hypocritical choice. - Stolen from trogdor on Steam (I couldn’t word it any better myself).  


The EOS ico for dummies by trogdor
Official EOS FAQ

12. Why do the T&C’s say the ERC-20 token has no value?

The EOS T&C’s famously state:
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."

Quick answer:

This is legal wording to avoid all the legal complications in this emerging space, do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Most notably Tezos (links below).

Long answer:

This all comes down to legal issues. Anyone who’s been into crypto for 5 minuets knows that government bodies such as the Securities and Exchange Commission (SEC) are now paying attention to crypto in a big way. This legal wording is to avoid all the legal complications in this emerging space, do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Many token creators that launched ICOs are now in deep water for selling unregistered securities.
A filing from the Tezos lawsuit:
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."
To ensure EOS tokens are not classed as a unregistered security has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from
" is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”
It is expected that many blockchains using software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of a $1bn fund will be has been created to incentivise projects to use this blockchain.

Sources: FAQ Great video on this topic by The Awakenment EOS $1bn Fund Announcement Article on the Tezos lawsuit Article on the Gigawatt lawsuit An official post featuring disclaimer

13. Why is the token distribution one year long?

Official statement from
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
It is also worth noting that had no knowledge how much the the token distribution would raise as it is determined by the free market and the length of the token distribution is coded into the Ethereum smart contract, which cannot be changed.

Sources: FAQ

14. Where is the money going from the token distribution?


Quick answer:

Funding for the project was raised before EOS was announced, the additional money raised from the token distribution is largely going to fund projects on EOS.

Long answer:

A large portion of the money raised is getting put back into the community to incentivise projects using software. raised all the money they needed to develop the software before the ERC-20 tokens went on sale. There are some conspiracies that are pumping the price of EOS using the funds raised. The good thing about blockchain is you can trace all the transactions, which show nothing of the sort. Not only this but the EOS team are going to have an independent audit after the funding is complete for piece of mind.
From FAQ:
“ intends to engage an independent third party auditor who will release an independent audit report providing further assurances that has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the website.”

Sources: FAQ EOS $1bn Fund Announcement

15. Who's using EOS?

With 2 months from launch left there is a vibrant community forming around EOS. Some of the most notable projects that EOS software will support are:
A more complete list of EOS projects can be found at

16. Dan left his previous projects, will he leave EOS?


Quick answer:

When EOS has been created Dan will move onto creating projects for EOS with

Long answer:

When a blockchain project has gained momentum and a strong community has formed the project takes on a life of its own and the communities often have ideas that differ from the creators. As we have seen with the Bitcoin and Ethereum hark forks you cant pivot a community too much in a different direction, especially if its changing the fundamentals of the blockchain. Instead of acting like a tyrant Dan has let the communities do what they want and gone a different way. Both the Bitshares and Steem were left in a great position and with Dans help turned out to be two of the most successful blockchain projects to date. Some would argue the most successful projects that are actually useable and have a real use case.
What Dan does best is build the architecture and show whats possible. Anyone can then go on to do the upgrades. He is creating EOS to build his future projects upon it. He has stated he loves working at with Brendan and the team and there is far too much momentum behind EOS for him to possibly leave.


Dans future beyond EOS
Why Dan left Bitshares
Why Dan left Steem

17. Is EOS susceptible to DDoS attacks?

No one could have better knowledge on this subject than our Block Producer candidates, I have chosen to look to EOS New York for this answer:
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."


eosnewyork on DDoS attackd
EOSSphere Architecture

18. If block producers can alter code how do we know they will not do so maliciously?


Quick answer:

  • Block producers are voted in by stake holders.
  • Changes to the protocol, constitution or other updates are proposed to the community by block producers.
  • Changes takes 2 to 3 months due to the fact block producers must maintain 15/21 approval for a set amount of time while for changes to be processed.
  • To ensure bad actors can be identified and expelled the backed community will not back an open-entry system built around anonymous participation.

Long answer:

For this question we must understand the following.
  • Governance and why it is used.
  • The process of upgrading the protocol, constitution & other updates.
  • Dan’s view on open-entry systems built around anonymous participation.
Cryptography can only be used to prove logical consistency. It cannot be used to make subjective judgment calls, determine right or wrong, or even identify truth or falsehood (outside of consistency). We need humans to perform these tasks and therefore we need governance!
Governance is the process by which people in a community:
  1. Reach consensus on subjective matters of collective action that cannot be captured entirely by software algorithms;
  2. Carry out the decisions they reach; and
  3. Alter the governance rules themselves via Constitutional amendments.
Embedded into the EOS.IO software is the election of block producers. Before any change can be made to the blockchain these block producers must approve it. If the block producers refuse to make changes desired by the token holders then they can be voted out. If the block producers make changes without permission of the token holders then all other non-producing full-node validators (exchanges, etc) will reject the change.
Upgrade process
The EOS.IO software defines the following process by which the protocol, as defined by the canonical source code and its constitution, can be updated:
  1. Block producers propose a change to the constitution and obtains 15/21 approval.
  2. Block producers maintain 15/21 approval of the new constitution for 30 consecutive days.
  3. All users are required to indicate acceptance of the new constitution as a condition of future transactions being processed.
  4. Block producers adopt changes to the source code to reflect the change in the constitution and propose it to the blockchain using the hash of the new constitution.
  5. Block producers maintain 15/21 approval of the new code for 30 consecutive days.
  6. Changes to the code take effect 7 days later, giving all non-producing full nodes 1 week to upgrade after ratification of the source code.
  7. All nodes that do not upgrade to the new code shut down automatically.
By default, configuration of the EOS.IO software, the process of updating the blockchain to add new features takes 2 to 3 months, while updates to fix non-critical bugs that do not require changes to the constitution can take 1 to 2 months.
Open-entry systems built around anonymous participation
To ensure bad actors can be identified and expelled the backed community will not back an open-entry system built around anonymous participation.
Dan's quote:
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad.
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."


The Limits of Crypto-economic Governance
EOS.IO Technical White Paper v2

19. What is the most secure way to generate EOS key pairs?

Block producer candidates EOS Cafe and EOS New York have come forward to help the community with this topic.
The block producer candidate eosnewyork has kindly posted a tutorial on steemit detailing the steps that need to be taken to generate key pairs using the official code on the EOS.IO Github.
The block producer candidate eoscafe has gone a step further and released an Offline EOS Key Generator application complete with GUI for Windows, Linux & Mac. Not only can this application generate key pairs but it can also validate key pairs and resolve public keys from private keys. This application has also been vouched for by EOS New York


EOS.IO Github
eosnewyork's key pair generation tutorial
eoscafe's offline key par generation application  
submitted by Techno-Tech to eos [link] [comments]

End of day summary - 01/24

The Dow rose 41.31, or 0.16%, to 26,252.12, the Nasdaq lost 45.23, or 0.61%, to 7,415.06, and the S&P 500 declined 1.59, or 0.06%, to 2,837.54.
Wall Street went on a roller coaster ride on Wednesday as investors tried to extend the new year rally, but struggled to justify further gains.
Stocks got off to a good start with the Dow, the S&P 500, and the Nasdaq up between 0.4% and 0.7% shortly after the opening bell. However, the bears took control about an hour into the session and pushed the major averages into negative territory; at their worst marks the day, the Dow, the S&P 500, and the Nasdaq held respective losses of 0.4%, 0.5%, and 1.1%.
The Nasdaq was the first index to move into negative ground as profit-taking pushed the index down as much as 0.7%. The Dow weakened and ultimately crossed into negative ground as well, but by the afternoon the blue chip index moved back into the green and drifted in a sideways fashion from there. In the end, the Dow finished higher by 0.2%, closing at a new all-time high, while the S&P 500 and the tech-heavy Nasdaq lost 0.1% and 0.6%, respectively. Today's loss breaks a three-session winning streak for the S&P 500, but the index still remains solidly higher for the week (+1.0% WTD) and for the year (+6.1% YTD).
Heavily-weighted sectors like financials (+0.7%), health care (+0.3%), and consumer discretionary (+0.4%) did relatively well on Wednesday, but the underperformance of the top-weighted technology space (-0.9%) kept the S&P 500 in check. TXN was the weakest tech component in the S&P 500, tumbling 8.5%, after its latest earnings report came in as expected, but didn't impress investors enough to justify the chipmaker's 25.0% gain over the last seven weeks. AAPL was also weak, losing 1.6%, after Bernstein analyst Toni Sacconaghi said iPhone sales for the current quarter may be disappointing.
Among the noteworthy gainers was AMSC, which jumped 12% after Chinese wind turbine maker Sinovel was found guilty in the U.S. of orchestrating the theft of software code from AMSC. Also higher after reporting quarterly results were GWW and NAVI, which gained 18.5% and 8%, respectively.
Among the notable losers was UAL, which plunged 11.4% after announcing a plan to boost capacity growth 4-6% in 2018 and likely in 2019 and 2020 as well. The concern is, if demand starts to slow, the airline might have to slash its prices to fill the extra seats, which in turn could fuel a price war within the industry. Also lower was PBYI, which dropped 29% after the EMA's Committee for Medicinal Products for Human Use communicated a negative trend vote on the marketing authorization application for neratinib. GE dropped 2.7% after reporting below-consensus earnings and revenues for the fourth quarter.
Elsewhere, the major stock indices in Europe ended on a lower note, closing at their worst marks of the day; Germany's DAX and the UK's FTSE dropped 1.1% apiece, while France's CAC declined 0.7%. The European Central Bank will meet on Thursday, but it's expected to leave rates unchanged. Investors will be interested in ECB President Mario Draghi's press conference, however, as he could attempt to talk down the strengthening euro.
In the Asia-Pacific region, equity indices had a mixed outing with Japan's Nikkei (-0.8%) showing relative weakness. China's Shanghai Composite was the top performer, adding 0.4%.


The U.S. Dollar Index is down 1.0% at 89.22, tracking its third consecutive decline. The Index has given up 1.6% this week, and it now sits at its lowest level since mid-December 2014.


U.S. Treasuries ended the midweek session on a lower note, though the bulk of today's selling took place at the open. The selling accelerated after Treasury Secretary Steven Mnuchin spoke in Davos, talking up the benefits of a weaker dollar. Secretary Mnuchin also said the U.S. government is committed to achieving GDP growth of at least 3.0%.


Gold prices rose on Wednesday, hitting their highest since August, 2016, as investors sought insurance against possible inflation after U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar. Silver was up 3 percent at $17.57 an ounce, the highest since mid-September.


UBS (UBS) chairman Axel Weber said the bank will not trade in bitcoin (BTC) or offer it to retail clients as increased regulation may result in a "massive" drop in value, Bloomberg reports, citing an interview with Weber at the World Economic Forum. "This is something where the price is really unclear," he said. "We fear that in the future if these investments implode and the market corrects, then investors will be looking at 'who sold us this?'"


AH news

  • F misses (39 cents vs 42 cents)
Summary scrapped from the interweb. Took 0.97 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

The IRS is looking

The IRS has taken an interest in Bitcoin for various reasons. First, Bitcoin is largely unmonitored and stands apart from the traditional structure of U.S. banking with 1099 forms and regular reporting. There is a huge mass of Bitcoin value that is relatively unknown to the IRS, and gains in value are essentially hidden from the IRS, and the IRS doesn't like that.(They always assume you are hiding something) In addition, Bitcoin has a large potential for tax non-compliance, both because its very nature is quasi anonymous, and because Bitcoin holdings give rise to significant IRS reporting (the "FBAR" form, IRS Form 8938, IRS Form 8949, capital gains taxes, etc.) and many fellow owners don't heed (or even know) the reporting requirements.
In November 2016, the IRS obtained a federal court authorization to issue a "John Doe" summons to Coinbase, Inc. The IRS has in the past successfully used the "John Doe" summons to obtain information from financial institutions (e.g., UBS, HSBC and Cayman Islands banks) for a broad class of U.S. taxpayers who are not individually named but whom the IRS has reason to believe may have utilized the financial institution to improperly evade tax. The John Doe summons upon Coinbase seeks records from 2013 through 2015 for any Coinbase user with a US address, telephone number, e-mail domain, etc., and all records related to disbursement of funds to any user. A recently filed Affidavit by an IRS agent in the Coinbase enforcement litigation revealed that in 2015, only 802 taxpayers revealed Bitcoin information to the IRS on Form 8949, which is the form applicable to capital gains and losses. Other virtual currency platforms, such as Localbitcoins, Kraken and ItBit may receive similar summonses for transactions with Bitcoins and other virtual currencies like Ethereum and Litecoin.
Bitcoin's quasi-anonymity feeds its non-compliance, and there are many opportunities to run afoul of tax law and IRS requirements, intentionally or inadvertently. One issue is the failure to report income with respect to Bitcoin. In 2014, the IRS issued Notice 2014-21 describing how various income recognition and other US tax principles apply to virtual currency transactions. In that Notice, the IRS clarified that virtual currencies are "property" subject to income tax, capital gains tax, etc. This means that if Bitcoin is sold for a profit, that profit is income and is subject to capital gains tax. The income is reportable on IRS Form 8949 which is then attached to Schedule D of Form 1040. If you exchange your Bitcoin for goods or services, that too is a taxable event, as the IRS considers you to have earned income on the value of the good or service, less your cost basis in the Bitcoin (i.e., your Bitcoin purchase price).
If you are audited by the IRS regarding Bitcoin, you may have to show multiple cost bases for multiple transactions. Proper record keeping with respect to Bitcoin is essential. The IRS regularly takes the position that your cost basis in your Bitcoin is zero, and you would pay tax on the full value of the Bitcoin on the date of the transaction, unless you can provide records of your purchases of Bitcoin.
In addition to income tax issues on Bitcoin income, there are reporting issues irrespective of income. Because a Bitcoin wallet would be considered by the IRS to constitute an "account", if you hold your Bitcoins in foreign wallets or on foreign Bitcoin exchanges, then foreign account reporting requirements are triggered, including the FBAR (FinCEN Form 114, Report of Foreign Bank and Financial Accounts) and IRS Form 8938 (Statement of Specified Foreign Financial Assets). If you invested in a foreign fund that invested in Bitcoin, the IRS may consider the fund to be a "PFIC" (Passive Foreign Investment Company), which has its own tax methodology, and IRS Form 8621 would be due. Penalties for non-reporting foreign accounts are significant, including potentially 50% of the value of the account.
Clearly, the IRS has an increased interest in Bitcoin which necessitates proper compliance with respect to Bitcoin assets. The IRS offers opportunities to come into compliance before the IRS obtains information about unreported assets (virtual or actual) and income, including via a pre-emptive voluntary disclosure (offshore or domestic) of digital currency income and accounts. However do your own due diligence and talk to your tax advisor.
submitted by congregatio to Bitcoin [link] [comments]

Tencent News: From 400 Yuan to 7000+ in only four years - why Bitcoin rise faster than real estate?

Google Translation below:
4年从200块暴涨到7000多 比特币为啥比房价涨得更快
理财要闻第一财经日报2017-01-07 08:10分享 118评论 今年上大三的学生小敏(化名)最近发现,自己曾经以200元一枚购买的比特币如今涨到7600多元一枚,超过了比特币在2013年底最疯狂时期的价格。
1871/5000 4 Nián cóng 200 kuài bàozhǎng dào 7000 duō bǐtè bì wèi shà bǐ fángjià zhǎng de gèng kuài
lǐcái yàowén dì yī cáijīng rìbào 2017-01-07 08:10 Fēnxiǎng 118 pínglùn jīnnián shàng dà sān de xuéshēng xiǎo mǐn (huàmíng) zuìjìn fāxiàn, zìjǐ céngjīng yǐ 200 yuán yī méi gòumǎi de bǐtè bì rújīn zhǎng dào 7600 duōyuán yī méi, chāoguòle bǐtè bì zài 2013 niándǐ zuì fēngkuáng shíqí de jiàgé.
2013 Niánchū, hái zài niàn gāo'èr de xiǎo mǐn kāishǐ jiēchù bǐtè bì, bǐ shí, bǐtè bì gānggāng jìnrù jìngnèi gōngzhòng de shìyě,200 yuán yǐjīng shì lìshǐ zuìgāo jià. Cǐhòu de yī nián lǐ, bǐtè bì jìnrùle guòshānchē hángqíng, jiàgé shǒuxiān yījǔ túpò 7500 yuán yī méi, suíhòu yòu bàodié zhì bùzú 3000 yuán. Xiǎo mǐn méiyǒu xuǎnzé jiā cāng, ér shì duìbǐtè bì zhànghù qì zhī bùgù, bùliào duǎn duǎn liǎng nián duō, bǐtè bì yòu “wángzhě guīlái”.
Bǐtè bì cǎiqǔ 7*24 xiǎoshí quán tiān jiāoyì móshì, gēnjù bǐtè bì hángqíng wǎngzhàn Btc123.Com de shùjù, jiézhì zhōusān wǎn bā diǎn, bǐtè bì jiàgé yǐjīng zhǎng zhì 7820 yuán yī méi, zài guòqù yī nián lǐ zhǎngfú dádào 170%, jǐn zài guòqù 20 tiān lǐ jiù shàngzhǎngle 2000 duōyuán.
Qùnián 9 yuè yǐlái, bǐtè bì chéngjiāo túrán fàngliàng, gēnjù guówài wǎngzhàn Bitcoinity.Org de tǒngjì, quánqiú zhǔyào bǐtè bì jiāoyì píngtái de rì jūn chéngjiāo zǒng liàng cóng 60 wàn méi fàngdà dào mùqián de 600 wàn méi zuǒyòu, zhōngjiān yīdù túpò 1300 wàn méi. Qízhōng, láizì zhōngguó de bǐtè bì zhōngguó, huǒ bì wǎng hé OKCoin sānjiā píngtái jiù zhàn chéngjiāo zǒng liàng de 98%yǐshàng.
Xīn yī lún niúshì lái xí
2017 nián 1 yuè 4 rì, bǐtè bì yǐ 7820 yuán běn lún zuìgāo jià yíngjiēle zìjǐ de shēngrì.
OKCoin gōngsī CEO xú míngxīng gàosu “dì yī cáijīng rìbào”,“cóng duǎnqí lái kàn, zuìjìn de zhǎngfú qíshí hěn nán fēnxī, bǐtè bì zuìjìn de bàofā shì 2013 nián yǐlái chángqí jīlěi de jiéguǒ. Zīchǎn jiàgé dōu yǒu zhōuqí xìng bōdòng de tèdiǎn, kěnéng dàole dǐbù zhīhòu chángqí bǐjiào píng, ránhòu duǎn shíjiān nèi chūxiàn měng zhǎng měng diē.”
Tā zhǐchū, guónèi jiāoyì píngtái suīrán jiāoyì liàng hěn dà, dàn bù dàibiǎo zhōngguó zài guójì bǐtè bì shìchǎng shàng de zhǔdǎo dìwèi. Yóuyú guónèi píngtái zhī jiān jìngzhēng jīliè, cǎiqǔ 0 jiāoyì yōngjīn de móshì, cùshǐ yònghù fǎnfù pínfán mǎimài, xíngchéngle hěn dà de jiāoyì liàng, shíjì shang guónèi píngtái shàng bǐtè bì zhēnshí jiāoyì zhǐ zhàn dào quánqiú de 30%zuǒyòu, dà bùfèn de bǐtè bì jiāoyì háishì zài guówài.
Zhōngguó shè kē yuàn jīnróng yánjiū suǒ suǒ cháng zhùlǐ yángtāo rènwéi, tóuzī bǐtè bì de dàduō shì zhuānyè de bǐtè bì tóujī zhě, duōshù pǔtōng jūmín mùqián méiyǒu cānyù qízhōng. Tóuzī zhě yě bìng méiyǒu jiàng bǐtè bì zuòwéi yī zhǒng huòbì jìnxíng jiāoyì, ér shì zuòwéi yī zhǒng kě tóujī de zīchǎn. Kuà jìng chǎozuò de bǐlì yě bù gāo, bǐtè bì hái shǔyú wánjiā quānzi nèibù, tóujī zhě zhǔyào zài jìngnèi.
2016 Nián, zài jīnglì niánchū de xiàdié hòu, bǐtè bì zài 5 yuèdǐ de 3 tiān lǐ jiàgé cóng 2950 yuán lā shēng dào 3800 yuán, zhǎngfú chāoguò 25%. Jiē xiàlái zài 6 yuè zhōngxún, jiàgé yīdù túpò 5000 yuán dà guān hòu kāishǐ huítiáo,8 yuè yǐlái, bǐtè bì jiàgé yīlù zǒuqiáng.
2016 Nián 11 yuè, yìndù zǒnglǐ mò dí xuānbù fèichú miànzhí wèi 500 lúbǐ hé 1000 lúbǐ de zhǐbì, fēnbié duìyìng 51 yuán hé 102 yuán rénmínbì. Yǔ cǐ tóngshí, miàn duì huòbì chíxù biǎnzhí hé yánzhòng tōnghuò péngzhàng, wěinèiruìlā fèichú jiù bì, fāxíngle miàn'é gèng dà de xīn zhǐbì.
Yǒu fèn xī rénshì zhǐchū, qùnián guójì zhèngzhì júshì dòngdàng shí de zījīn bì xiǎn xūqiú kěnéng tuīdòngle běn lún bǐtè bì jiàgé shàngzhǎng.
Zhāoshāng zhèngquàn yánjiùyuán liúzéjīng rènwéi, suízhe rénmínbì huìlǜ bōdòng fēngxiǎn hé bùfèn guójiā dìqū jīngjì bōdòng fēngxiǎn de zēngjiā, bì xiǎn qíngxù cùshǐ zījīn yǒng rù bǐtè bì tóuzī shìchǎng. Cǐwài, suízhe bǐtè bì hé qū kuài liàn gàiniàn bèi yuè lái yuè duō rén lǐjiě hé guānzhù, bǐtè bì de tóuzī jiàzhí yě dédàole rènkě.
Shíjì shang, bǐtè bì shàng yī lún bàozhǎng jiù yǔ zījīn bì xiǎn hé kuà jìng zījīn liúdòng yǒuguān.2013 Nián 3 yuè, ōuyuán qū guójiā sāipǔlùsī xuānbù mòshōu hé dòngjié 60%de jūmín chúxù, yǐ huànqǔ ōuzhōu yāngháng de yuánzhù, suíhòu dāngdì jiù chūxiàn páiduì qiǎnggòu bǐtè bì de xiànxiàng, tōngguò bǐtè bì jiāng zīchǎn zhuǎnyí chūjìng, liǎng rì zhī nèi jiù jiāng bǐtè bì jiàgé tuī gāole 20%.
Bàozhǎng hòu, gèguó jiānguǎn zhě fēnfēn biǎoshì yào duìbǐtè bì jiāoyì zhēng shuì, shènzhì shì quánmiàn qǔdì bǐtè bì jiāoyì, méiyǒu yī guó zhèngfǔ chéngrèn bǐtè bì jùyǒu fǎbì dìwèi.
2013 Nián 12 yuè 5 rì, zhōngguó rénmíng yínháng liánhé sì bùwěi fābù “guānyú fángfàn bǐtè bì fēngxiǎn de tōngzhī”(289 hào wén).“Tōngzhī” yāoqiú, xiàn jiēduàn gè jīnróng jīgòu hé zhīfù jīgòu bùdé kāizhǎn yǔ bǐtè bì xiāngguān de yèwù, bùdé yǐ bǐtè bì wèi chǎnpǐn huò fúwù dìngjià.
Zài gèguó jiānguǎn zhě de wéijiǎo xià, bǐtè bì tóujī zhī fēng shòudào chénzhòng dǎjí, jiàgé cóng zuìgāo 1040 měiyuán bù dào bànnián lǐ bàodié zhì 410 měiyuán, zài 2015 nián de dà bùfèn shíjiān lǐ dōu zài 200 duō měiyuán páihuái.
Bùguò, xú míngxīng biǎoshì,“bǎ měi cì xiàdié gēn jiānguǎn bìrán liánxì shì xuǎnzé xìng jìyì, bǐtè bì zuìdī shí zài 2014 nián diē dàole 900 duōyuán, dànshì dāngshí méiyǒu rènhé jiānguǎn zhèngcè chūtái, xiàdié háishì gēn rénmen duìbǐtè bì shīqù xìnxīn yǒu guānxì. Bǐtè bì jiàgé shàngzhǎng yǔ zīběn guǎnzhì yě méiyǒu bìrán liánxì, lìshǐ shàng bǐ tè bì dàyuē 20 cì shàngzhǎng zhōng, zhǐyǒu 3 cì shì yīnwèi zīběn guǎnzhì.”
Tā rènwéi, tōngguò bǐ tè bì shíxiàn huàn huì zài lǐlùn shàng kěyǐ shíxiàn, yě bù páichú yǒu gèbié tóuzī zhě tōngguò zhèyàng de fāngshì jiāng rénmínbì huàn chéng měiyuán chūjìng, dànshì cāozuò nàn dù hé xiànshí shùjù dōu biǎoxiàn chū zhè bìng méiyǒu chéngwéi yīgè qūshì, fǒuzé bǐ tè bì de jìngnèi wài de jiàgé huì xíngchéng chíxù kuòdà de jiàchā, dàn mùqián jiàchā zuìduō yě zhǐyǒu 2%-3%. 4 years from the 200 soared to more than 7,000 bits of money why housing prices rose faster
Financial News First Financial Daily News 118 comments This year, junior students on the small sensitive (a pseudonym) recently found that he had a 200 yuan to buy the bit currency is now up to more than 7600 yuan a bit, more than the bit of money at the end of 2013 the most crazy prices.
In early 2013, still read sophomore Minmin began to contact Bitcoin, that time, Bitcoin has just entered the territory of public view, 200 is the highest price in history. The following year, the bit coins into the roller coaster market, the price of the first break in one fell swoop 7,500 yuan a, then plummeted to less than 3,000 yuan. Xiaomin did not choose jiacang, but disregard of the bitcoat account, only to more than two years, bitcoat and the "return of the king."
Bitcoin to 7 * 24-hour day trading mode, according to the bitter currency market data, as of Wednesday night 8:00, Bitcoin prices have risen to 7820 yuan a year in the past year rose to 170% Only in the past 20 days has risen more than 2,000 yuan.
Since last September, Bitcoin turnover suddenly heavy volume, according to foreign website statistics, the world's major bit-currency trading platform, the average daily turnover from 600,000 to enlarge the current 600 million or so, the middle once exceeded 13 million . Among them, from China's Bitcoin China, the fire network and OKCoin three platforms accounted for more than 98% of the total turnover.
A new round of bull market struck
January 4, 2017, Bitcoin to 7820 yuan round of the highest price to meet his birthday.
"In the short term, the recent gains are hard to analyze, and the recent outbreak of Bitcoin is the result of long-term accumulation since 2013. Asset prices are characterized by cyclical fluctuations," said Xu Mingxing, CEO of OKCoin. , May be to the bottom of the long-term comparison after the flat, and then a short period of time soared plummeted.
He pointed out that the domestic trading platform, although a large volume of transactions, but does not represent China in the international Bitcoin market dominance. Due to intense competition among domestic platforms, to take 0 trading commission model, prompting users to frequent trading, the formation of a large trading volume, in fact, the domestic platform Bitcoin real transactions accounted for only about 30% of the world, most of the Bitcoin transactions or abroad.
Yang Tao, assistant director of the Chinese Academy of Social Sciences Institute of Finance believes that most of the bitcoin investment is a professional bit coin speculators, most ordinary residents are not involved. Investors also did not trade Bitcoin as a currency, but as a speculative asset. The proportion of cross-border speculation is not high, Bitcoin also belongs to the player circle inside, mainly in the territory of speculators.
In 2016, after the beginning of the fall, Bitcoin in the end of May 3 days price rose from 2950 yuan to 3800 yuan, or more than 25%. Then in mid-June, the price once exceeded 5,000 yuan mark after the callback, since August, bitcoat prices all the way strong.
In November 2016, Indian Prime Minister Moody's announced the abolition of the face value of 500 rupees and 1000 rupees notes, corresponding to 51 yuan and 102 yuan. At the same time, the face of currency devaluation and severe inflation, Venezuela abolished the old coins, the issue of new denominations of larger denominations.
Some analysts have pointed out that the international political turmoil last year, when the demand for safe-haven funds may promote the current round of bit-bit currency prices.
Investment securities researcher Liu Zejing that, with the RMB exchange rate fluctuations and the risk of economic fluctuations in some countries and regions increased risk aversion to promote the influx of funds into the bitcoin investment market. In addition, Bitcoin is recognized for its investment value as bit-currency and block-chain concepts are understood and focused by more and more people.
In fact, a bit of a bit of currency coins on hedge funds and cross-border capital flows. In March 2013, the euro zone countries Cyprus announced the confiscation and freezing of 60% of household savings in exchange for the European Central Bank assistance, followed by the local line up to appear on the phenomenon of bitcoin currency, through Bitcoin the assets transferred out of two days Will push bitcoin prices by 20%.
After the surge, national regulators have said they want to tax the Bitcoin transactions, or even a total ban on Bitcoin transactions, no one government recognizes the Bitcoin currency status.
December 5, 2013, the People's Bank of China jointly issued four ministries "on the prevention of bit-currency risk notification" (289). "Notice" requirements, at this stage of the financial institutions and payment institutions shall not carry out the business related to Bitcoin, not in the bit currency for products or services pricing.
The speculative wind of bitcoin speculators has been hit hard by national regulators, with prices plummeting from $ 1,040 to $ 410 in less than half a year, hovering at more than $ 200 for most of 2015.
However, XuXingXing said, "every fall with regulatory contact is selective memory, bitcoin lowest in 2014 fell to more than 900 yuan, but then there is no regulatory policy introduced, fell or with the people of bitcoin lost confidence The rise in Bitcoin prices is not necessarily linked to capital controls, with only about three of the roughly 20 uptick in the history of Bitcoin because of capital controls.
He believes that currency exchange through the realization of the currency can be achieved in theory, does not rule out some individual investors in this way the yuan into the US dollar exit, but the difficulty of operation and real data show that this has not become a trend, otherwise Bitcoin prices will continue to expand the price spreads, but the current spread of up to only 2% -3%.
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Investing in bitcoin 2019 1040 - YouTube Basics For Buying And Investing In Bitcoin Investing Long-term in Bitcoin w/ Pomp Should i invest in bitcoin 2014 - YouTube 2014 BitCoin Predictions - WHAT WILL HAPPEN? - YouTube

A break below 46,200 will negate the wedge theory as it will be the first time since the beginning of 2014 that the market will break below a previous low. A break and close below 46,200 projects ... Der Bitcoin Cloud Mining Hashflare aus Schottland bietet seit 2014 Cloud Mining Service mit sehr günstigen Hashrate Paketen. Hierbei stehen die Algorythmen SHA-256 (Bitcoin), Scrypt (DASH), ETHASH (ETH) und EQUIHASH (ZEC) zur Verfügung. Man kann schon ab 0.80 USD in Mining Pakete investieren. Die Mining Verträge haben eine Laufzeit von 12 Monaten. Benutze den Promotion-Code J.F. Thompson, Russell Newton (Narrator), "Bitcoin for Beginners: How to Get Started With Bitcoin Investing, Bitcoin Trading, Bitcoin Mining" ASIN: B07DVN6JN7 2018 [email protected] kbps ~01:36:00 46 MB. Details. The Bitcoin Standard: The Decentralized Alternative to Central Banking [Audiobook] eBooks & eLearning. Posted by tarantoga at June 15, 2018. Saifedean Ammous, James Fouhey (Narrator ... Der Bitcoin Kurs ist starken Schwankungen unterlegen, weil das Handelsvolumen zum Beispiel im Vergleich zu Gold oder Aktien noch sehr gering ist. Aktueller Bitcoin Kurs; Bitcoin Kursverlauf; Bitcoin Kurs Historie; Bitcoin Kurs Prognose; Der durchschnittliche Bitcoin Kurs beträgt aktuell 10.938,55 Euro 1 Std. -0,31 % 1 Tag: -0,86 % 7 Tage: 14,14 %. Tatsächlicher Kaufpreis (Kurs+Gebühren) bei ... In 2014, the IRS released a notice regarding taxation when it comes to Bitcoin and other cryptocurrencies. This notice is only seven pages long, but broadly states that virtual currency is property, should be treated as such, and, depending on the transaction, may be liable to taxes based on its value on the day of receipt.

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Investing in bitcoin 2019 1040 - YouTube

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Welcome to my 2014 Bitcoin Predictions video. In this video, I explain why I believe Bitcoin is going to have a stellar year in 2014. I am making these predi... He says Bitcoin is useful in many ways and one of the benefits is that there´s no person in the middle in order to do a transaction or store capital. Also says that Bitcoin is going through a ... A conversation with Anthony 'Pomp' Pompliano about Bitcoin. We cover how he got involved with cyrpto, why he is long Bitcoin, whether recent stimulus will le... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.