Dropping volume on the hourly, has driven the price of bitcoin into somewhat of a sideways trading range. The remainder of the day will shed more light, as to whether this ends up being the first step to $5,000 and beyond, or yet another vicious
The parabolic growth of bitcoin, has born witness to countless governmental regulatory proposals, most of which continue to be oppressive in nature. From talks of banning bitcoin mining outright in Russian homes, to the ICO prohibition in China, there have been occasional positive examples of regulation and governance when tackling fintech issues. Such is the proposed Cryptocurrency Tax Fairness Act currently up for debate in the USA, urging for tax exemptions on crypto currency transactions that fall under a $600 threshold. Representatives Jared Polis and David Schweikert are spearheading the proposal, who are both incidentally
Blockchain Caucus introduced the Cryptocurrency Tax Fairness Act to Congress. No cap gain tax on >$600 BTC purchase https://t.co/osqFy0f6J3
— Mack (@johnbnyc) September 7, 2017
It is no wonder that many national and local governments from across the globe, are trying to catch up with the new wave of crypto investments, which seem to function as a strong catalyst for further economic growth. Chiasso, a Swiss municipility has moved ahead of the mainstream, by accepting tax payments that total up to 250 CHF, at the bitcoin market exchange rate. This is the first case, in which a regional tax authority has suggested a comparable arrangement. In just the last few months, eight
However, despite it all, bitcoin is not without its faults or long standing myths for that matter.
Busting 7 #Blockchain / #Bitcoin Myths #Infographic#Fintech #defstar5 #Mpgvip #SM17 #SMM #SEO #Startup #AI #IoT #makeyourownlane #Marketing pic.twitter.com/y77XEtratZ
— Rajan Khurana (@rajan_khurana) September 8, 2017
More decentralization could be in store for bitcoin in the coming months. Japanese GMO, an internet focused conglomerate, has revealed plans for
How #BitcoinMining works?#Blockchain #Fintech #IoT #innovation #cybersecurity #AI #digital #disruption #crypto #tech #bigdata @CryptoClover pic.twitter.com/0frUfhsKVZ
— Jacqueline Burns (@JacBurns_Comext) September 6, 2017
On a similar note, Bitmain has engaged Sequoia Capital and IDG Capital in order to raise $50 million from numerous venture firms.
Releasing new batch of Antminer L3+ #litecoin miner tomorrow (7 Sept) at 11AM (GMT+8) here: https://t.co/vuhoP1NZxV
Order while stock lasts! pic.twitter.com/tOn2njXF8A
— BITMAIN (@BITMAINtech) September 6, 2017
The race to for better and larger hash rates is not limited to bitcoin though. Litecoin may have a bright future ahead of it, at least according to the latest article from Market Mogul.
Want to mine LTC? Check out this Litecoin USB miner. 10-15% of profits will be donated to @LTCFoundation! https://t.co/URLUMKBzRs https://t.co/Zcw8NePzIw
— Charlie Lee (@SatoshiLite) September 3, 2017
Either way, we can expect volatile price movement until the uncertainty regarding the November bitcoin hard fork is resolved.
I think my previous poll wasn’t very clear. Let’s try a simple one.
Do you support Bitcoin hardforking in November to double the blocksize?
— Charlie Lee (@SatoshiLite) September 5, 2017
The $4,001.93 weekly low was established on September 5 (GMT 04:00). The ensuing 3 days, have seen a forceful rise in price that could soon continue to break ahead of the $4,979.9 weekly high, which is also the ongoing monthly and
If you have any questions and comments on bitcoin today, use the form below to reply.