Will Cryptocurrencies Be Outlawed in 2018? Learn More Here

BITCOIN and other cryptocurrencies are under greater scrutiny than ever before with fears of a regulatory crackdown from countries including India, South Korea and China. But will cryptocurrencies be made illegal in 2018?

Japan’s Blockchain Association and the Cryptocurrency Business Association are planning on forming a self-regulatory board to prevent future hacks, it has been claimed.

The country’s Blockchain Association and the Cryptocurrency Business Association could merge as early as April, according to sources close to the matter.

On Wednesday, Coindesk reported the US Treasury’s Office of Terrorism and Financial Intelligence had “called on the international community for stronger cryptocurrency regulations to help protect the financial system and national security in a speech yesterday”.

And even stronger language has emerged…

 

Continue Reading at Express Daily

Another Way to Get Rich with Bitcoin

Looking for a job? Better yet, looking for a job that could actually make you rich in the future? Well, Bitcoin just became the fastest growing skill for freelancers in the world.  


Bitcoin Skills?

Did everybody else arrive at the bitcoin party that much earlier than you? Does your trading strategy feel like a scientific proof of Murphy’s law? Perhaps you still haven’t bought your first Lambo? Well don’t worry, I have a tip for you: Education, Education, Education. Bitcoin just became the fastest growing skill for freelancers.

I know… That sounds like a concept which doesn’t really understand what it’s talking about.

Essential skills for this position include excellent time management, Microsoft Office, and bitcoin.

Buying bitcoin, check. Buying things with bitcoin, check. Selling bitcoin, check. Transferring bitcoin to friends for the meal we just had when I realize I’ve forgotten my wallet, check.

Yep, I’d say I have some skills in bitcoin, so… dammit, time management!

But Srsly?

The full list was published by global freelance website, Upwork, and they don’t really explain what they mean either.

The report mentions “demand for experts familiar with bitcoin as many look to develop their own cryptocurrencies.” It also says that attention is turning to blockchain. Although surely neither of those are technically bitcoin skills?

I was tempted to post a dummy job asking for bitcoin experts, and waiting to see who applied. But I needed to sign up to do that, so I searched the freelancers with “bitcoin” listed as a skill. My results included a mixture of developers and writers. Which means I do have bitcoin skills… Erm, arguably.

The words of the prophets

In the digital age, with remote working becoming increasingly easy, the freelance market has exploded. According to Forbes, around 35% of the US workforce freelanced last year, and predicts 50% within the next ten years.

Disrupting the Freelance Industry with Ethearnal

Necessity means that freelancers are always preparing for the future of the job market. To remain in demand requires continuous reskilling, so this statistic is a good harbinger of what is to come.

So if your investments are never going to make you rich, then perhaps you should think about an online course or two? I for one am going to update my CV and head straight down to the local job center. I’m sure they’ll appreciate my bitcoin skills.

Would you be open to working for cryptocurrency only? Share your thoughts below!


Images courtesy of Shutterstock

The post The Other Way to Get Rich with Bitcoin appeared first on Bitcoinist.com.

Source: Bitcoininst

Bitcoin Regained Over $19 Billion This Week – Here’s What This Means For You

Cryptocurrencies are recording their biggest gains in weeks after the president of the European Central Bank shrugged off talk of a ban.

Bitcoin was up more than 7% in early trading Wednesday, gaining over $400 and adding $7.7 billion in market capitalization. In the past week, Bitcoin’s value has bounced back from recent turbulence, adding over $1,100 in value and over $19 billion in market cap.

While European banking officials warned consumers about the highly volatile nature of Bitcoin, Ethereum, Ripple and other cryptocurrencies, Mario Draghi, president of the European Central Bank, said…

 

Continue Reading at Fortune.com

 

Is anyone actually reporting cryptocurrency trades in their 2017 tax returns?

Despite months of warnings to pay their taxes on cryptocurrency profits, American Bitcoin investors aren’t in a hurry to tell Uncle Sam what they owe.

Early data from one popular tax preparation service shows that only a minuscule proportion—just .04%—of U.S. tax filers have reported their cryptocurrency gains and losses to the Internal Revenue Service so far this year. That’s far fewer than the 7% of Americans who are estimated to own Bitcoin or another cryptocurrency, and who are likely to owe taxes to the IRS on those investments.

Of the first 250,000 people to file their tax returns using Credit Karma, fewer than 100 of them disclosed any taxable event for cryptocurrency. Of those, only a single person disclosed a crypto gain or loss big enough to be “significant,” according to Credit Karma, a free credit-monitoring startup.

While it’s still early in tax season—at last count, the IRS had received only…

 

Continue Reading at Fortune.com

 

Will Ethereum Leapfrog Bitcoin in the Next 2 Months?

It seems a wild statement to make, given the disparity in value between the two cryptocurrency giants (at time of writing, Bitcoin’s value exceeds Ethereum’s by a factor of ten), but we’re not talking about pricing, but market dominance.

Since it kickstarted the digital currency phenomenon back in January of 2009, Bitcoin has always been way ahead in terms of its dominance of the market cap. We determine this through the comparative growth of Bitcoin as a percentage of the overall growth of the market.

As new coins enter the sector, if their growth from initial investment exceeds the market average, then their dominance increases, and Bitcoin’s decreases. This doesn’t necessarily mean a decrease in value for Bitcoin (although one often goes hand-in-hand with the other) merely that the newer currency is growing at a faster rate than the originator.

This is exactly what we are seeing at the moment with…

Continue Reading At CryptoDaily.co.uk

Is Bitcoin Behind the Recent Drop in the Stock Market? The Truth Will Surprise You!

While market purists have traditionally drawn a strong line between the young cryptocurrency market and the traditional stock market, analysts are now having a harder time denying the correlation between the two.


Who’s Hurting Who?

Some analysts have essentially been pointing their fingers at Bitcoin’s recent decline in price and gloating in what amounts to little more than “I told you so.” However, crypto non-believers have had to take a step back and reevaluate, following The Dow Jones industrial average’s record-setting plunge earlier this week.

DOW dropped 1,175 points by the end of the day on Monday, and it’s no coincidence that Bitcoin also fell to one of its lowest points in two months at the same time, temporarily trading below $6,000.

Dow Jones and Crypto - Who's Hurting Who?

Though Bitcoin and other cryptocurrencies had already been experiencing a fairly steep correction, both the DOW and Bitcoin’s drop suggests a stronger correlation than was once believed.

According to Christopher Harvey, head of equity strategy at Wells Fargo, a hit to the stock market can cause weak-handed investors to sell their Bitcoin – mostly due to an unloading of risk. Harvey noted:

On Monday what we saw is all risk products sell off. As risk gets sold, it sometimes adds fuel to the fire.

He also described last year’s bull run as “money chasing,” which increased both volatility and the demand for liquidity.

Harvey also claims that, as the stock market charged ahead early this year, the level of risk continued to rise—encouraging those investors eager for big gains to take a look at the cryptocurrency market. Those same investors likely bailed on Bitcoin when the DOW dropped.

Bitcoin Markets

What Harvey doesn’t suggest, however, is that it also works the other way around—where Bitcoin and other cryptocurrencies could affect the traditional stock market.

After all, it’s not unreasonable to take the strategist’s own risk-centered argument and say that Bitcoin’s sharp decline from its all-time high in December had a direct impact on the stock market—especially once the dominant cryptocurrency found a home underneath the $10,000 mark. With Bitcoin representing a “high-risk investment,” watching it fall could’ve easily caused a sell-off of riskier investments in the traditional stock market.

Both the cryptocurrency and stock markets also shared a similar run-up to all-time highs during the euphoric bull run at the end 2017, perhaps helping carry each other.

Regardless of which market hurt which this week, one thing is certain: the correlation between cryptocurrency and traditional stocks is becoming more apparent by the week.

Do you think the Dow Jones’ sudden drop caused Bitcoin to reach an even lower-than-expected low? Or do you think Bitcoin’s correction caused a sell-off in the stock market? Let us know in the comments below!


Images courtesy of Shutterstock

The post Did Dow Jones’ Plunge Cause Bitcoin’s Drop – Or Vice Versa? appeared first on Bitcoinist.com.

Source: Bitcoininst

Op-Ed: Why I Believe Bitcoin’s Price Plunge is a Good Thing

A common refrain when people hear that I first embraced bitcoin in 2012 is, “I bet you’ve done quite well.” The truth is, I haven’t.

Honestly, I’ve never been much of an investor or saver. Instead, I prefer to live on the edge, in mystery and paradox. Therein lies my approach with bitcoin which I view as nothing more than an uber-efficient means of paying my rent, purchasing groceries, an occasional dinner out, book purchases and yoga classes.

Some see my ways as outright insane, particularly in light of the rise of transaction fees in recent months. Others view my experimentation as courageous, expressing envy at my willingness to give the middle finger to big banks.

I, for one, find myself annoyed at all of the frenzy around prices. Just the other day, my new neighbor asked if I could provide him with some advice and direction on selecting the next big crypto now that bitcoin has tanked. Guess he didn’t get the memo that I have little patience for these sorts of questions.

There is one phrase to describe my sentiments regarding the precipitous fall in the price of bitcoin? I’m delighted. And here are a few reasons why:

For starters, anyone with an ounce of sense should have been able to see that the massive bull run of 2017 was completely unsustainable. In my opinion, this development suggests nothing more than pure greed. So I believe at some point we’ll look back and see that this price pullback was a blessing in disguise for Bitcoin’s future.

Second, Satoshi Nakamoto must be rolling over in his grave watching his vision of a P2P currency get lost in price speculation. Frankly, after I gave the middle finger to Well Fargo and traditional banking, the opportunity to cheaply and securely transact in a peer-to-peer manner was the reason I jumped onboard the bitcoin bandwagon. Now I’m hopeful that this price decline will give us reason to pause and revisit Satoshi’s original intent.

Third, I believe bitcoin’s price more than anything may simply be a sideshow to a looming global economic reset. The good news here. As traditional investments like stocks begin to get slapped down amid their own bubble, I believe growing numbers of people will seek out or return to bitcoin, hopefully, this time with a more realistic view of price dynamics.

As my old friend Willie Jolley is fond of saying, “a setback is a setup for a comeback.” Is this an accurate view of bitcoin? Only time will tell.

The post Op-Ed: Why I Believe Bitcoin’s Price Plunge is a Good Thing appeared first on BTCMANAGER.

Source: BTC Manager

Cryptocurrency Predictions for 2018 That You Need to See

Dignitaries, Pundits, and Bigwigs Reveal Their 2018 Crypto-Predictions

Bitcoin and cryptocurrency markets have been extremely bearish over the past six weeks straight, and many investors are waiting for the light at the end of the tunnel. Last year around this time we reported on a variety of cryptocurrency dignitaries, pundits, and bigwigs and they revealed to us that their outlook for 2017 was exceedingly bullish. Now even after the long run of recent bitcoin market dips many blockchain industry luminaries and outside investors are still remarkably optimistic about cryptocurrency markets in 2018.

Also Read: UNICEF Asks Gamers to Mine Cryptocurrency for Syrian Children

The ‘Wolf of Wall Street’ Thinks BTC/USD Markets Will Top $50K But Then Crash

Ever since December 16, 2017, cryptocurrency markets have been on a downward spiral that seems never-ending. BTC/USD markets reached an all-time high globally touching $19,600 per coin and have since dropped to $7,200 six weeks later. Many traders are calling out different “bottoms” as some think the storm is almost over and others believe the price of bitcoin may drop even further. However with all the ‘doom and gloom’ charts and different ‘bottom calls,’ many cryptocurrency investors and industry executives believe 2018 will be just as phenomenal for bitcoin as it was last year.

Dignitaries, Pundits, and Bigwigs Reveal Their 2018 Crypto-Predictions

On January 31 the infamous “Wolf of Wall Street,” Jordan Belfort explained during a recent interview with the entrepreneur Patrick Bet-David that he doesn’t believe BTC is a scam. But he does believe Wall Street investors can easily manipulate the decentralized currency’s markets. Belfort thinks bitcoin will top last year’s all-time high, and explains to Patrick Bet-David that the cryptocurrency will likely top $50,000 before dropping significantly in value.

Fundstrat’s Tom Lee: ‘Crypto Remains Intact’

Dignitaries, Pundits, and Bigwigs Reveal Their 2018 Crypto-Predictions Three days ago the investment firm Fundstrat’s Tom Lee published a report that details even with the current bearish sentiment he is still bullish on bitcoin. Lee believes BTC/USD markets will reach $20K by mid-year and $25,000 by the end of 2018.                  

“It has been a terrible few weeks, but the fundamental positive story for crypto remains intact,” the head of research at Fundstrat Global Advisors stated.

Past sell-offs were followed by rallies of ~150% within 84 days,” Lee said. “In other words, we think the risk/reward at these levels warrants adding here, even if there is additional downside.

Nine Executives and Investors Predict Cryptocurrency Prices by the End of 2018

This week the survey and decision helper website Finder.com surveyed nine well-known fintech investors to see their cryptocurrency predictions for 2018. Cryptocurrencies included in the study include bitcoin core (BTC), bitcoin cash (BCH), Cardano (ADA), Ethereum (ETH), and nine other popular digital currencies. Survey participants in the research include Clayton Daniel of Fintech Founder, Michael Dunworth CEO and co-founder of Wyre Inc, Joseph Raczynski from Reuters, and more well-known executives.

Dignitaries, Pundits, and Bigwigs Reveal Their 2018 Crypto-Predictions

According to the survey, the participant’s cryptocurrency average price predictions (USD) place bitcoin core (BTC) at $14,928 by March 1, 2018. By the year’s end, the nine candidates say BTC/USD markets will top $43,472. Contributors also believe that bitcoin cash (BCH) will be $2,167 by March 1, and $3,083 at the end of 2018. The survey taken in February shows panelists believe Cardano (ADA) will have the most prosperous price climb this year (+1,669.52%) reaching $10.63. Further, each participant commented on each prediction and why they believe cryptocurrency markets will reach these levels.      

“I think [BTC] will show promise from scaling solutions, and ETFs platforms integrating the buying/selling component will provide broader reach for market adoption,” explains Michael Dunworth the CEO of Wyre.

‘We’re Really Still at the Beginning Stages’

Dignitaries, Pundits, and Bigwigs Reveal Their 2018 Crypto-Predictions
Jen Greyson, CEO of the Neureal Network.

Jen Greyson, the founder of the Neureal Network who was named one of the top eight women in crypto this past year by Chipin says cryptocurrency adoption is just getting started.   

“As adoption in the space continues, we’ll see a rise in bitcoin along with other altcoins — The usability of this new asset class continues to be a hurdle,” says Jen Greyson, CEO of the Neureal Network. 

As we find more opportunities to use crypto to pay for burgers and rent, we’ll see a continual uptick in the values across the board — We’re really still at the beginning stages.

Above all the mainstream media headlines predicting bitcoin’s price will continue downwards towards zero, there’s still many individuals who believe bitcoin and many other cryptocurrencies will continue their triumphant runs in 2018. Most of the time, unless there’s some market phenomenon the old saying ‘what comes up, must go down’ is usually correct. But at the same time, it is typically true for when markets hit a ‘bottom’ — Usually, the market is bound to go up.

What do you think about these luminaries, pundits, and executives crypto-predictions? Let us know in the comments below.


Images via Shutterstock, Jordan Belfort, Fundstrat, Finder.com, and Neureal. 


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history. 

The post Dignitaries, Pundits, and Bigwigs Reveal Their 2018 Crypto-Predictions appeared first on Bitcoin News.

Source: Bitcoinnews.com

Bitcoin is Down 50 Percent for 2018 – Here’s What You Need to Know

  • The digital currency briefly falls below $6,000 to its lowest since mid-November, according to CoinDesk.
  • The decline follows reports in the last week that have raised worries about increased regulation and potential price manipulation at a major cryptocurrency exchange.
  • The heads of the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission are also set to testify before the Senate Banking Committee on Tuesday.

The digital currency fell to a low of $5,947.40, its lowest since mid November, according to CoinDesk, whose bitcoin price index tracks prices from four major exchanges.

At a price of $6,088.02 at 8:56 a.m. London time, the cryptocurrency was down more than 11.9 percent on the day, according to CoinDesk. The site measures bitcoin based on Coordinated Universal Time — currently the same time zone as the U.K…

 

Continue Reading At CNBC.COM

‘Panic Mode’: Bitcoin Price Keeps Plunging

NEW YORK (Reuters) – Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and U.S. banks.

On the Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked a fall of more than half from a peak of almost $20,000 hit in December.

Bitcoin has fallen in six of the last eight trading session.

The currency, which surged more than 1,300 percent last year, has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Last week bitcoin suffered its worst weekly performance since 2013…

Continue Reading At REUTERS