Massive 1.3 Million ATLS Token Airdrop Scheduled for Tokenized Travel Platform, Supported By Ontology

The developers of Ontology (ONT), a “distributed trust” network for building decentralized applications (dApps), had announced earlier that they would oversee the launch of Atlas’ initial exchange offering (IEO) on crypto trading platform, Coinsuper. As part of the token launch process, “10% of ATLS,” the native digital asset for the Atlas platform, will be ”open for an ONT subscription session” which is schedule to start on April 22nd, 2019. To “celebrate and thank ONT holders,” the Ontology team has announced “a 1,300,000 ATLS airdrop for all ONT holders (no minimum or maximum hold amount).” As mentioned in a blog post published on April 17th, 2019 by Ontology’s management, the Atlas protocol is a “decentralized, tokenized platform.”
Source: Crypto Globe

Bitcoin [BTC]: John McAfee reveals he received many emails from people claiming to be ‘Satoshi’

The ‘who is the real Satoshi Nakamoto’ drama in the world of cryptocurrencies has been ongoing ever since the name of the elusive Bitcoin [BTC] creator was made public. Fast forward ten years after the inception of BTC and the comments around that topics have reached new heights.
As part of a follow up to his many and consistent tweets, John McAfee twitter post said:
“I have received today dozens of communications from people and groups claiming to be Satoshi. Below is an example email and my responses. So people, please – i do know who Satoshi is. Don’t make yourself look foolish by pretending.”
His follow-up tweet said:
“Again people, don’t make yourselves look foolish by contacting me and claiming to be Satoshi. If you need to contact me to reveal yourself then you are not him.”
McAfee’s tweet came in the wake of several e-mails that were sent to him by people claiming to be the actual creator of Bitcoin. One such email even claimed that Nakamoto was not a person but rather a group of people working in unison and was in hiding. A part of the email content read:
“We are in hiding and we just don’t do emails. Mainstream media has a time block on us which is okay, they would rather choose to give airtime to imbeciles.”
The rise in the ‘Satoshi claims’ can be attributed to McAfee recent tweet of claiming to know a dozen people who know the real identity of Satoshi. He had also added that he would start a process of narrowing down the suspects to finally reveal the actual creator of Bitcoin.
The post Bitcoin [BTC]: John McAfee reveals he received many emails from people claiming to be ‘Satoshi’ appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Turns a New Bullish Leaf Since 2018

A break above the trendline in March 2019, launched Bitcoin into its current upward trajectory.
BTC/USD dips are well supported above $5,200 in the short-term.

Several experts in the cryptocurrency market including Tom Lee, Tim Draper and Forbes contributor Chambers have come out to say that Bitcoin has finally bottomed. This follows a trend reversal from the lows in 2018 roughly at $3,143. A break above the trendline in March 2019, launched Bitcoin into its current upward trajectory. There was struggled at $4,000 but Bitcoin finally made above the former resistance at $4,200. A breakout from this level zoomed past the 200-day moving average exponential (EMA).
SourcE: TradingView
Further correction extended the gains past $5,000. Similarly, BTC/USD formed a monthly high on Coinbase at $5,502.19 before revisiting the region slightly below $5,000. This week support has been formed around $4,900 giving way to a retracement above $5,200. Meanwhile, Bitcoin is still trading in the green at $5,240.54 amid a building momentum likely to touch $5,300 in the coming sessions on Thursday. Any movement above this level will catapult BTC/USD towards $5,400 while the bulls still eye the highs around $5,500.
Source: TradingView
The hourly chart, on the other hand, shows Bitcoin above the 100 simple moving average (SMA). The sideways trading means that there is indecision on the market. Short-Term support at $5,200 will work to stop declines could test $5,000 (key support area). Still, in the same 1-hour range, the RSI is trending upwards at 55.2139. The correction in the direction comes after the indicator failed to break into the overbought resulting in a slide. The MACD is sitting well inside the positive region while ranging to confirm the prevailing sideways trend.
Prediction: BTC/USD dips are well supported above $5,200 in the short-term. Sideways trading to prevail in coming sessions as consolidation continues around $5,250. Further retracement to find support in a positive zone we explored yesterday at $5,120 – $5,160.
Bitcoin Price Key Technical Indicators:
200-day EMA: 4,733.57
MACD daily chart: +308.07
RSI daily chart: 70.4548 (holds on to the overbought region).
Initial support zone: $5,120 – $5,160
Support 2: 100 SMA 1-hour
Support 3: $5,000
Resistance 1: $5,300
Resistance: $5,400
Resistance 3: $5,500
The post Bitcoin [BTC] Price Analysis: Turns a New Bullish Leaf Since 2018 appeared first on Coingape.
Source: CoinGape

Crypto Analytics Firm: Single Strategic Actor Responsible for Bitcoin Price Surge

The Bitcoin rally heard ‘round the world that began on April 2, 2019 painted the first higher high on Bitcoin price charts since the price of the leading cryptocurrency by market cap reached its all-time high back in December 2017. The powerful surge many believe could have signaled the end of the bear market and confirmed that a new uptrend has begun.
The over $1,000 rally may have also been the work of a single, calculated and strategic actor, who may have precisely executed a plan that drove the price up as much as possible.
CoinMetrics: Committed Actor Executed Trades At Key Times to Maximize Price Impact
The massive green candle that occurred on Bitcoin price charts on April 2 had everyone talking, from brokers, to bankers, and everyone in between. The powerfully bullish movement may have been the final blow to bears that signaled the end of the crypto winter that’s plagued the asset class throughout 2018 and 2019 thus up until now.
Related Reading | Crypto Analyst: Bitcoin Price Chart Shows Textbook Bump and Run Reversal Bottom 
The move, according to crypto research firm CoinMetrics, was orchestrated across multiple exchanges, at very specific times where liquidity is the lowest, in order to “maximize price impact while trading,” the firm said. More interesting is their theory that the entire thing was executed by one, single “committed actor.”

Our theory is that a single committed actor went long and traded in a manner that maximized price impact. The movement in price started at 04:30 UTC time, the point in the day where global liquidity is at a minimum.
— (@coinmetrics) April 17, 2019

CoinMetrics reveals that the price movement started at approximately at 04:30 UTC time, which the firm says it the “point in the day where global liquidity is at a minimum.”

“Although this cannot be known for sure, such trades would have been designed to trigger stop losses and force a short squeeze through liquidations of margin positions and short futures positions,” they added.

The large price movement on April 2, 2019 occurred during the window of lowest global liquidity. It began at 04:30 UTC and lasted until 05:30 UTC. This time may have been deliberately chosen so that a committed actor could maximize price impact when trading.
— (@coinmetrics) April 17, 2019

The entire move lasted about one hour, ending at about 05:30 UTC. CoinMetrics further suggests that the time was “deliberately chosen” in order to create the most price movement possible in the shortest amount of time, maximizing “price impact.”

Here's a closer look at our three exchanges of interest
— (@coinmetrics) April 17, 2019

While conflicting reports across the web from various experts have suggested the move originated across three exchanges, Coinbase, Kraken, and Bitstamp, CoinMetrics instead claims the move began at HitBTC where roughly 500,000 Tether were traded for Bitcoin, then was followed by simultaneous buy orders executing on Coinbase and Bitfinex.
Related Reading | Bitcoin and Ethereum Trading Volume Reaches Crypto Bull Run Peak Levels
Other theories crypto analysts have offered have pointed to mistaken programmatic buying following an elaborate April fools prank. Bots did appear to influence the move, but only because the initial actor planned it that way, and took out stop loss orders that further caused a cascading effect, sending the price higher and higher. As the whale had planned, the trades had a significant impact – enough to potentially end the bear market and ignite a new crypto bull run.
Featured image from Shutterstock
The post Crypto Analytics Firm: Single Strategic Actor Responsible for Bitcoin Price Surge appeared first on NewsBTC.
Source: New

Anxious Traders Beware: Bitcoin (BTC) May Range Sideways for Weeks to Come

Despite losing the majority of its upwards momentum over the past week, Bitcoin has been able to continue climbing higher and is now approaching the $5,300 level. BTC’s ability to continue climbing higher despite the lack of major buying volume has been technically positive, but traders are still laying out potential bear scenarios that could lead Bitcoin back down towards $4,000.
One prominent cryptocurrency analyst recently explained that he expects Bitcoin to get caught in a sideways trading range for the weeks to come, which may be disappointing to traders who are anxiously awaiting a big price swing.
Bitcoin (BTC) Tepidly Climbs Towards $5,300
At the time of writing, Bitcoin is trading up less than 1% at its current price of $5,275 and is up slightly from daily lows of $5,230. BTC is currently nearing its highest price level over the past seven days and has firmly established $5,000 as a strong level of support.
It is important to note that the cryptocurrency is currently just a hair below a key resistance level at $5,400 that has held strong ever since BTC first surged earlier this month. On April 10th, Bitcoin incurred a sudden influx of buying pressure that allowed it to surge to just above the aforementioned resistance level before facing strong selling pressure that pushed it to lows of $5,000.
This price action appears to have led to the creation of a fresh trading range between roughly $5,000 and $5,400, which may continue to hold strong for the foreseeable future.
Josh Rager, a popular cryptocurrency analyst on Twitter, spoke about this possibility in a recent tweet, explaining that he expects BTC to stay caught in a relatively tight trading range for “weeks to come.”
“The longer $BTC ranges between $5,000 to $5,200, the stronger support it becomes after the next push up. Though this equally becomes a stronger resistance if a breakdown occurs. IMO, Bitcoin likely stays in the price range of this chart for weeks to come,” he explained.

The longer $BTC ranges between $5,000 to $5,200, the stronger support it becomes after the next push up
Though this equally becomes a stronger resistance if a breakdown occurs
IMO, Bitcoin likely stays in the price range of this chart for weeks to come
— Josh Rager (@Josh_Rager) April 18, 2019

This bout of sideways trading may ultimately prove to be overwhelmingly positive for individual cryptocurrencies, as many have already been able to surge despite BTC’s current lull.
Analyst: Bear Scenario Could Bring Bitcoin Down Towards $4,000
Although Bitcoin may presently look strong, if the crypto’s bears are able to push it below $5,000, it may continue dropping until it reached the low-$4,000 region.
Bagsy, another popular cryptocurrency trader on Twitter, pointed towards a Wyckoff Distribution pattern to illustrate the possible bear scenario for Bitcoin, noting that a drop below $5,000 could bring the cryptocurrency back down towards $4,000 – erasing virtually all the gains it has incurred over the past few weeks.
“$BTC Wyckoff Distribution: Warning, the following image contains graphic content. This is something I spotted, doesn’t mean it’s going to happen for those getting nervous, but it was worth pointing out,” he explained.

$BTC Wyckoff Distribution:
Warning, the following image contains graphic content. This is something I spotted, doesn't mean it's going to happen for those getting nervous, but it was worth pointing out. Big thanks to @walter_wyckoff for helping me iron out the structure.
— Bagsy (@imBagsy) April 17, 2019

Only time will tell as to whether or not BTC will get caught in a trading range for the next few weeks, but in the meanwhile, traders will likely turn to various altcoins in order to maximize their profitability.
Featured image from Shutterstock.
The post Anxious Traders Beware: Bitcoin (BTC) May Range Sideways for Weeks to Come appeared first on NewsBTC.
Source: New

Brave Rewards launches in latest version of Brave for Android

Brave Browser, an open-source web browser based on the Chromium web browser, and its utility token, BAT has been making headlines with updates pertaining to the project’s development and the token’s price surge. Now, the project is back in the limelight with the launch of Brave Rewards in the latest version of Brave for Android.
Additionally, to commemorate this event, the team announced that it would be granting 100,000 BAT to Brave Android users, in an official blog post. According to the post, each BAT token will be worth around $5, and users can receive it by clicking on the “accept button in Brave Rewards”.
Source: Brave
Bat-chriscat said on Reddit,

“Just to be clear, this particular release on Android includes the Tipping feature, but not the Ads (earning) feature just yet. However, it now exposes the BAT token symbol and idea of BAT (in the URL bar) to millions upon millions of Android Brave users.”

Moreover, the Founder of Brave, Brendan Eich, recently spoke about how Brave generates revenue and the future of the project, in an interview with Fast Company. He stated that they would be doing ads that would be privately matched by the browser, based on the user’s interest.
“and puts them in the place that the publisher has arranged for us to have an ad. The ads are static […] they won’t look like these crazy flyover ads. But it will allow publishers to get the big revenue share”
He stated that,
“We give 70% to the owner of the ad space. And then we get the same 15% that we give to the user. That’s why we use the triangle logo–you have users, advertisers, and publishers. This is something that hasn’t been fully tried. It’s complex. So it’s a multi-year mission.”
The post Brave Rewards launches in latest version of Brave for Android appeared first on AMBCrypto.
Source: AMB Crypto

Token Taxonomy Initiative Launched By Enterprise Ethereum Alliance, Microsoft

The Enterprise Ethereum Alliance (EEA), an organization focused on “developing open, blockchain specifications” and standards that enhance “interoperability for businesses and consumers,” is working with Microsoft on an initiative that will help companies issue the appropriate type of crypto tokens for their requirements.
Source: Crypto Globe

Stellar (XLM) Expected To Rally Hard If Golden Cross Comes To Fruition

Stellar (XLM) in on the verge of seeing a big move to the upside should the price succeed in triggering the most anticipated golden cross. Traders and investors became more interested in this cross after Stellar (XLM) got listed on Coinbase. The daily Stochastic RSI forr XLM/USD shows that the price has ample for a rally towards the 200 day EMA. However, it is not likely to break above it in the near future. That being said, we have seen the 200 day and 50 day moving averages draw closer over the past few months. If the price continues to consolidate, we could see this cross over happen in the months ahead. This will be very helpful for the future of Stellar (XLM) as it will put it on the spotlight. Most people in this market couldn’t care less about the underlying technology; all they care about is a way to make money.
If Stellar (XLM) is a high achiever during the next bullish cycle, it is going to have a very high rate of success and it could see the same kind of growth that Ripple (XRP) saw during the last hype cycle. Stellar (XLM) also has a far better chance of adoption and acceptance compared to Ripple (XRP). The recent Coinbase lisitng will definitely help a lot long term. Its strategic partnership with IBM is going to help even more and as time goes by, we could see Stellar (XLM) be used as a payment gateway for different online services and ecommerce stores. Let’s face it, Bitcoin (BTC) could one day be digital Gold but it was never meant to be digital money. We do not use Gold to pay for bills or services; we use paper money. That paper money will eventually be replaced by crytptocurrenceis like Stellar (XLM) that are faster, cheaper, easily storable and transferrable.

The daily chart for XRP/BTC shows that Stellar (XLM) has plenty of room to rally against Bitcoin (BTC). The least we could expect is a retest of the 38.2% Fib retracement level. It will not be easy because the price will have to breach both the 50 day and 200 day moving averages before it can get to the 38.2% fib level. The Stochastic RSI on the daily time frame shows that the price has ample room to pull it off.
RSI on the daily time frame is also ready to take off as the price is ready to shoot up against Bitcoin (BTC) if it continues to linger on for the next few days and weeks. Stellar (XLM) is likely to be one of the few coins that could lead the charge in case of a short lived altcoin season. Ripple (XRP) has clearly lost its bullish charm over the past few weeks and months and it is clear that Stellar (XLM) would be the biggest beneficiary of this transition. As people continue to see cryptocurrencies as more of a revolution against big banks and financial institutions, coins like Stellar (XLM) will rise in demand against Ripple (XRP) and will also have a better chance of mainstream adoption and recognition.
Source: Crypto Daily

Binance Coin (BNB) Nears All-Time-Highs After Exchange Makes Several Bullish Announcements

Binance Coin (BNB) has been the gift that keeps on giving for investors, posting massive year-to-date gains that are unrivaled by any other major cryptocurrencies. BNB’s massive price surge has come about due to a seemingly constant influx of positive news regarding Binance’s platform.
The latest event that has proven to be highly positive for BNB is the launch of Binance’s highly anticipated custom blockchain that in many ways poses competition to Ethereum. The blockchain – which is aptly dubbed Binance Chain – will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance Chain.
A Flurry of Positive News Surrounds Binance
The exchange, which has a whopping 10 million users, is offering the crypto community and Binance Coin investors a seemingly constant stream of very positive news, which has allowed BNB to surge back towards its previously established all-time-highs that were set during the parabolic market surge in early-January of 2018.
In a tweet today, Binance DEX – the company’s decentralized platform – announced in a tweet that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.
“Binance Chain launches its mainnet and plans to execute Mainnet Swap on Apr 23, 2019,” they noted.

.@Binance Chain launches its mainnet and plans to execute Mainnet Swap on Apr 23, 2019.
Please see the below link for further details on the actions that will occur along with the planned timings for them to do so.
— Binance DEX (@Binance_DEX) April 18, 2019

Many people have speculated that this new blockchain platform will pose competition to Ethereum and will ultimately help diversify Binance Coin’s use-cases while also increasing its utility.
This new blockchain, in addition to the launch of their decentralized exchange, have sparked a significant amount of excitement in investors and the crypto community as a whole, proving to the industry that crypto-focused companies can, in fact, advance by leaps and bounds regardless of the market conditions.
Moreover, the exchange also announced that they would be launching a fiat-to-Bitcoin exchange in Singapore at some point next week, which was another nugget of positive news that fanned the flame burning in the hearts of ardent Binance advocates and BNB investors alike.

"#Binance Singapore will come online in April. It will be our next Fiat to Crypto exchange servicing $SGD " – @cz_binance #deconomy2019 #Binance
— Binance (@binance) April 4, 2019

Binance Coin (BNB) Surges Towards All-Time-Highs
At the time of writing, Binance Coin is trading up nearly 12% at its current price of $21.87, up significantly from its daily lows of $19.40.
Today’s surge is just a small piece of what the cryptocurrency has witnessed over the past several months, as BNB has incurred consistent gains on a nearly daily basis ever since it sank to its 2018 lows of roughly $4.50 in mid-December of last year.
Binance Coin is now fast approaching its all-time-highs of $24.46 that were set during the height of the crypto market’s parabolic surge that was seen in late-2017 and into early-2018. BNB is the only major cryptocurrency to come this close to reaching its previously established all-time-highs, and many other cryptos are still trading down 80% or more from where they were in early-January of 2018.
As Binance’s latest efforts to expand their company and increase the utility of BNB continue to unfold, it is highly likely that the cryptocurrency’s price will continue to surge and will eventually set a fresh all-time-high, regardless of the state of the overall crypto markets.
Featured image from Shutterstock.
The post Binance Coin (BNB) Nears All-Time-Highs After Exchange Makes Several Bullish Announcements appeared first on NewsBTC.
Source: New

Bitcoin [BTC] value has actually improved since JPM coin because of its decentralized nature, claims Tim Draper

Tim Draper, Venture Capitalist and Bitcoin Bull, recently claimed that Bitcoin [BTC] had the potential to majorly transform how the world operates and not just the financial ecosystem.
In a recent episode of The Crypto Chick with Rachel Wolfson, Draper said that the importance of Bitcoin [BTC] as a medium of currency would not be diminished in the forthcoming period. He explained that Bitcoin [BTC] had transcended the concept of decentralization and enabled the mass to think in a decentralized manner rather than backing a “political currency which is tied to a bureaucracy.”
During the interview, Tim Draper was asked to comment on the current market scenario of Bitcoin and where it was headed in terms of valuation. He explained that new technologies usually undergo a period of hype where people give attention to a new and intriguing trend.
He stated,
“The excitement will never be that hiked as it was the first time around but the value would grow sustainably over a long period.”
He believed that the recent hike had occurred in discreet movements and the trade volume was still not significant enough. He also said that the use of open node and Lightning Network might have solved a lot of people’s problems in terms of scalability.
Additionally, Tim Draper indicated that JP Morgan’s introduction of the JPM coin actually helped Bitcoin’s case in terms of popularity. He said that people were smart enough to understand the value of Bitcoin now and that it had more value than JPM coin which was centralized in nature.
Tim Draper stood by his prediction he had made earlier that Bitcoin [BTC] would hit $250,000 valuation by the year 2022 or 2023.
He mentioned,
“There is no question in my mind that Bitcoin would have a 5 percent market share which is all it requires in order to hit $250,000. There is $90 trillion dollars worth currency in the world. The number would probably increase because of crypto and as people evolve and see the opportunity and security behind cryptocurrency, they would start bringing it into their lives.”
The post Bitcoin [BTC] value has actually improved since JPM coin because of its decentralized nature, claims Tim Draper appeared first on AMBCrypto.
Source: AMB Crypto

Justin Sun Wants 2000 dApps on TRON Blockchain By EOY

Every day it seems to be that the TRON ecosystem is growing and at an alarming rate at that. At the head of TRON is Justin Sun who is dedicated to creating one of the crucial blockchains across the globe and it seems that this goal is getting closer despite what the critics say about his.
One way to understand the success of a blockchain is through the number of projects developed around it. In this sense, TRON has a big advantage in terms of growth because it is the blockchain that registers the highest amount of new dApps on a daily basis. This surpasses, its competitors like NEO, EOS, Steem and of course, Ethereum.
Sun went on to explain that his end goal is to have at least 2000 dApps running on the TRON blockchain before the end of the year. Of course, this is a very ambitious target but it is possible if the platform keeps up the same pace that it is going at today.

“We already have nearly 300 on TRON in just a few months, and we aim to get to 2,000 by the end of this year.”

What’s also important is that TRON successfully launched the USDT token based on the TRC-20 standard yesterday. This suggests that now, a big number of transactions executed with the strongest stablecoin in the market will run on TRON. This will increase the exposure of users to this blockchain.
In an open letter to the TRON community, Sun explains that this new partnership will be a great way to help stabilise a kind of market like the crypto one. He emphasised that now that USDT will run on TRON, trading and swap tokens like USDT, TRX, and BTT will be much easier:

“I think of USDT built on TRON blockchain as a win for the blockchain industry and for our community. More people will be able to trade TRX, BTT and other TRC-based tokens through the TRC20 based USDT pair, creating liquidity. In turn, liquidity helps build confidence and trust that typically results in greater stability throughout the ecosystem.”

Sun later went on to explain the emission of a TRC-20 is vital in getting to the all-precious mainstream adoption.
Source: Crypto Daily

Craig Wright’s ‘harassment and libel’ campaign might have hit a roadblock

Craig Wright’s “harassment and libel” lawsuit campaign has been extensively covered across different media platforms. His campaign might have come to a pause or possible end, as a Twitter user pointed out that Wright may have submitted a “provably fake email in court for the Kleiman case”.
Dr. Funkenstein, a Twitter user had tweeted:

Craig Wright just submitted a provably fake email in court for the Kleiman case. @PeterMcCormack and @adam3us, you may find this interesting!
— Dr. Funkenstein (@DrFunkenstein6) April 16, 2019

The letter is an email from David Kleiman, which will act as proof to Craig’s claims about him being Satoshi Nakamoto, the creator of Bitcoin. According to Craig Wright, the email was sent by David Kleiman in 2012 and this letter/email was submitted by Wright in the court of law as proof.
According to Dr. Funkenstein, the letter contained a hex coded time stamp, which after decoding yielded the actual date, i.e., March 12, 2014, which is contradictory to Wright’s claims.
Dr. Funkenstein also tweeted:
“I should have mentioned, Dave died in 2013, so unless he rose from the dead, this email wasn’t from him.”
If what Dr. Funkenstein claims, is true, then Craig Wright’s claims of being Satoshi Nakamoto would be discredited. This would imply other cases that Craig Wright has been filing against several people in the crypto community like Peter McCormack, Adam Back, etc would come to naught, unless Wright has more proof to his claims.
Monero’s fluffypony commented on the matter as he tweeted:
“From: Dave Klieman”
So the court is expected to believe that Dave Kleiman couldn’t even spell his own name correctly when setting up his email client? That seems…unlikely.
Craig Wright is a fraud. Sorry for your loss, @CalvinAyre.”
Wright and Ayre’s relentless campaigns have pushed the coin, Bitcoin SV to the edge as exchanges like Binance, Shapeshift and others have delisted it.
The post Craig Wright’s ‘harassment and libel’ campaign might have hit a roadblock appeared first on AMBCrypto.
Source: AMB Crypto

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Source: CoinSpeaker

Congress Slams IRS Over Bitcoin Tax Law; Here’s the Major Loophole for Crypto Investors

The United States tax deadline has came and went, and thanks to overwhelmingly confusing tax laws, crypto and Bitcoin investors are left scratching their heads, with many outright refusing to report their crypto earnings and losses on their annual tax filing.
It’s not U.S. taxpayers who are alone in feeling confused by the complex tax laws and lack of clear guidance. Congress has issued a scathing letter to the Internal Revenue Service (IRS) asking for clarity on how U.S. residents should go about paying their taxes on Bitcoin and other cryptocurrencies. The letter itself, suggests a leading tax attorney with experience in advising crypto clients, creates a major loophole for crypto investors who are at risk to become audited or worse.
Congress Issues Letter to IRS Requesting Bitcoin Tax Clarity
Tax day in the United States was this past Monday – a day many U.S. taxpayers dread. Tax laws in the country are already complicated, and confusing, requiring many taxpayers to either invest in software or pay a tax advisor to help guide them through the process and ensure all gains and losses are accurately reported.
Related Reading | Overwhelming Majority of Bitcoin and Crypto Investors Refuse to Report Taxes
The confusion is significantly amplified when you take into account an emerging asset class that is not fully understood, is unregulated, and has a multitude of potential use cases that walk the line of different classifications. Making matters worse, the IRS has only issued one public notice back in 2014 on how to pay taxes on cryptocurrencies such as Bitcoin since its inception, yet carries fines of up to $500,000 and up to five years in prison if taxes aren’t reported properly.
The glaring issue has prompted Congress to issue a letter to the IRS, demanding answers for U.S. taxpayers who are lost on how to report crypto-related transactions on their taxes.
“Taxpayers deserve clarity on several basic unanswered questions regarding federal taxation of these emerging exchanges of value,” the letter read. “Guidance is long overdue and essential to proper reporting of these emerging assets. The bipartisan support this letter has received should send a clear message to the IRS that clear guidelines for reporting virtual currency are necessary,” added Minnesota Congressman Tom Emmer.

Letter Inadvertently Provides Major Loophole for Crypto Investors
The letter itself Congress sent to the IRS, may further complicate things for the U.S. government, according to San Francisco-based tax lawyer Alex Kugelman who is familiar with advising cryptocurrency clients. Kugelman says that the letter could act as a sort of protection for any crypto investors that may have been targeted by the IRS’s crackdown on crypto tax evaders.
Related Reading | Confusing U.S. Tax Laws Lead to $5 Billion In Unrealized Crypto Losses
Kugelman explained that “if any of my clients are audited, I am going to present this to auditors – how can the IRS take enforcement action against taxpayers when there is such an obvious lack of guidance?”
With fines as steep as $500,000 and charges that could lead to up to five years in prison, having this added layer of protection on what is a complex and confusing situation, can be an ace up the sleeve for crypto investors or traders who find themselves in a precarious situation with the IRS.
Disclaimer: This information should not be taken as tax advice. Seek a certified public accountant for any crypto tax related questions.
Featured image from Shutterstock
The post Congress Slams IRS Over Bitcoin Tax Law; Here’s the Major Loophole for Crypto Investors appeared first on NewsBTC.
Source: New

From Broke To Bitcoin: Effective Tactics For Earning Free Or Almost-Free Crypto in 2019

If you’re one of the many people just starting to get into Bitcoin and other cryptocurrencies but find the price is way beyond what you can afford, congratulations, you’re among the majority of people trying to get into cryptocurrency. Bitcoin is expensive, so is Ethereum and Litecoin to a lesser degree. The writing on the wall is getting much clearer for cryptocurrency by the day; it is here to stay for the long term. So what are your options if you have little to no money to get started but want to start earning cryptocurrency someway, somehow? There is still plenty of hope!
Earn While You Learn while watching 2-3 minute videos on Coinbase Learn. Coinbase Learn is a new part of the Coinbase Exchange that rewards current Coinbase customers for watching videos about a particular cryptocurrency. At the moment, they are giving away up to $50 in Stellar Lumens (XLM) when you watch their short videos and take a quick and easy one-question quiz after each video. If you are not yet a member of Coinbase, this opportunity could be even better, as you will receive an extra $10 in Bitcoin for signing up and making your first $100 purchase. Coinbase is one of the world’s leading Crypto exchanges.

Sign Up For Voyager Exchange for iOS and receive $25 in free Bitcoin. Yes it really is that easy. Voyager is a new mobile-only exchange that was created by some very intelligent E-Trade and Uber alumni seeking to disrupt the crypto space and attract large institutional investors. This company has done some rather creative pivoting in this space by going public on the Toronto Stock Exchange earlier in 2019 to raise capital for further growth opportunities. This company appears to be on the fast track to disrupt crypto exchanges in 2019. They are already live in many US states and poised to launch internationally later this year. This free $25 offer is not going to last long, so I highly encourage you check this out sooner rather than later and sign up even if Voyager is not yet available in your region.

Sign Up For Robinhood Crypto/Stock Exchange and receive an actual stock worth up to $500 once you deposit at least $0.01 into your account. While getting a Tesla or Apple stock is very unlikely, it’s not entirely impossible. Most folks have said they’ve received stocks like Ford, Zynga, FitBit, and Sprint. Still, free is free and you can sell the stock after the probationary period and then use it to buy cryptocurrency or just add the cash right into your bank account.

Browser Mining is a fairly quick and easy way to begin earning Bitcoin. CryptoTab is a web browser built on Chromium (Google Chrome) and is a browser with a built-in bitcoin miner. According to CryptoTab, they are “the world’s first browser with a built-in mining function. With CryptoTab you earn cryptocurrency just by visiting your favorite sites, watching videos, and chatting online.” Once you open the browser and enable the built-in mining feature, you will start seeing the ticker go up after just a few minutes of running.

The earning potential goes up for each computer you have running the CryptoTab browser. The mining process works by using your computer’s CPU, so be conscientious of your computer’s hardware utilization as well as electricity bill when running this browser for extended periods of time.

Surfing Crypto Advertisements can also start netting you thousands of satoshi a day. Using sites like adBTC and ClixCoin will give you access to many offers for clicking crypto advertisements. Please be aware that many of the advertisements are sketchy at minimum and make some rather extravagant claims, so please tread with extreme caution before clicking or signing up for any of the sites on the ads you are viewing. If something sounds too good to be true, it probably is (except for this article, of course). Once you view the ads on screen for a certain amount of time, you will be given a certain amount of Satoshi into your account where you can cash out, use for your own advertisements, or just cash out.

Free Crypto Casinos like CryptoSkull gives you an endless free faucet of 500+ Satoshi to use on their casino. CryptoSkull is a play on the old MineSweeper game for PC and increasingly rewards you for each successful move within the game. You can play low-stakes or high-stakes and can cash out your Satoshi at any point in the game. As with any gambling games, this is highly addictive, so please play responsibly and only play the free games, or whatever you are willing to lose.

While the opportunities above are likely going to net you some crypto for little to no money, this is not a get rich quick scheme, and you certainly won’t be able to quit your day job. You will, however, gain access to the crypto world and have more in your pocket to show then if you had not taken the opportunity to use these offers. If you are a believer in cryptocurrency and it’s future place in the world of finance and still want to get in on the ground floor before the next big mooning happens, these opportunities will help gain you free cryptocurrency and exposure to the world of crypto. HODL on, friends!
Marcus Henry is an American Journalist with over 11 years working in tech. He has been actively involved in the crypto community for the past three years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections and conducts interviews with industry professionals and community members. Follow Marcus Henry on Twitter- @MarcusHenryHODL
Source: Crypto Daily