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Bitcoin Mining Giant Bitmain Is Collapsing – And It Only Has Itself To Blame

Bitmain Woes

The Israeli research and development arm of cryptocurrency mining giant Bitmain will close, resulting in the firing of all 23 staff due to market “turmoil.” Glikberg: Bitmain ‘Forced’ To Reevaluate As local media outlet Globes reported December 10, Bitmain, which continues to face financial problems of its own this year, will formally end all activities at its offshoot just three years after it began operations. The 23 employees at the Ra’anana site will not be

The post Bitcoin Mining Giant Bitmain Is Collapsing – And It Only Has Itself To Blame appeared first on Bitcoinist.com.

‘You Will Be Kicked Out’ – China Officially Bans Security Token Offerings (STO)

The People’s Bank of China (PBoC), the country’s central bank, has officially banned security token offerings (STO) in a continuation of its restrictive legislation governing digital currencies.  China: STO is ‘Illegal Financial Activity’ In continuation of its crackdown on digital currencies, China’s central bank has officially halted security token offerings, South China Morning Post reports. Speaking at an internet finance forum in Beijing, Pang Gongsheng, deputy governor at PBoC, said: The STO business that has surfaced recently

The post ‘You Will Be Kicked Out’ – China Officially Bans Security Token Offerings (STO) appeared first on Bitcoinist.com.

Bobby Lee Predicts $2.5K Bitcoin Price Bottom As 15-Month Lows Near

Bitcoin price bottom BTC price

The Bitcoin price could “bottom” at $2500 in January 2019, BTCC co-founder Bobby Lee has forecast in his latest prediction which many traders already consider too optimistic. Lee: Bitcoin Price Under $2K ‘Very Surprising’ On the back of an ongoing social media poll involving almost 5000 participants, Lee, who is becoming increasingly known for his bullish price predictions, said “a lot of buy orders and support” would keep Bitcoin above $2000. “I’ll be very surprised

The post Bobby Lee Predicts $2.5K Bitcoin Price Bottom As 15-Month Lows Near appeared first on Bitcoinist.com.

Bitcoin Price Analysis: BTC Bounces But Bears Still in Control

Tennis ball bouncing

Bitcoin price just pulled off a nice 10% bounce with the next level of resistance at $3,700. Let’s take a look at what can happen next? Bitcoin Price: Market Overview Bitcoin price  dropped to a new yearly low at $3,210 and the overall market cap now rests at $110.6 Billion. Clearly, bears are still running the show for BTC and the SEC’s  final postponement of a Bitcoin exchange-traded fund decision didn’t seem to help. Crypto-fanatics will

The post Bitcoin Price Analysis: BTC Bounces But Bears Still in Control appeared first on Bitcoinist.com.

Six EU Nations Sign Agreement to Regulate Distributed Ledger Technology (DLT)

EU DLT European Union

The Government of Malta this week announced the signing of a joint declaration of cooperation on Distributed Ledger Technologies (DLT). They joined a group of six other Southern European countries; France, Italy, Portugal, Spain, Greece, and Cyprus. Transformative Technology The countries released a joint-statement noting a shared view that the digital sphere is an ideal policy area for future cooperation. It also claims that DLT (a.k.a. blockchain technology) and other emerging technologies, such as 5G

The post Six EU Nations Sign Agreement to Regulate Distributed Ledger Technology (DLT) appeared first on Bitcoinist.com.

‘Buffett Bet 2.0’ – Investment Fund Puts $1M on Bitcoin to Outperform S&P 500

bitcoin Berkshire Hathaway Warren Buffett

Asset manager, Morgan Creek Digital, is offering an interesting wager if anyone is willing to take it. It’s willing to bet $1 million, that its Bitcoin-focused Digital Asset Index Fund outperforms the S&P500 over the next ten years. Buffett Bet 2.0 The fund tracks ten major cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, although the bulk (78%) is Bitcoin. Morgan Creek is so sure of their success, that the partners are putting up the stake

The post ‘Buffett Bet 2.0’ – Investment Fund Puts $1M on Bitcoin to Outperform S&P 500 appeared first on Bitcoinist.com.

Bitmain, Roger Ver, Kraken Sued as Bitcoin Cash Nightmare Continues

bitcoin cash crash bitcoin sv

Roger Ver, Bitcoin.com, Bitmain, and Kraken are all sued by UnitedCorp over an alleged complot to hijack the Bitcoin Cash network for their own personal gain. United Corp. Sues Bitcoin.com, Bitmain, Kraken If the Bitcoin Cash fork fall-out that made November one of crypto’s most volatile months on record wasn’t bad enough, the nightmare continues. Although, some might say, this time it’s justified–depending on which camp you belong to. Telecommunications and IT development company UnitedCorp is

The post Bitmain, Roger Ver, Kraken Sued as Bitcoin Cash Nightmare Continues appeared first on Bitcoinist.com.

SEC Final Decision on VanEck Bitcoin ETF Now Set For February

SEC EtherDelta

Expectedly, the US Securities and Exchange Commission has once again delayed its decision on the commodity-backed VanEck/SolidX bitcoin ETF proposal. The Commission is left with no room for further delays and the absolute final decision will come on February 27, 2019.  Bitcoin ETF: The Last Delay In July Bitcoinist reported that the SEC’s decision on the commodity-backed VanEck/SolidX bitcoin ETF proposal is likely to come in 2019. The Commission has delayed its decision multiple times, the last

The post SEC Final Decision on VanEck Bitcoin ETF Now Set For February appeared first on Bitcoinist.com.

Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax Filings for 2019

Bitcoin tax IRS

With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in cryptocurrency and Bitcoin tax filings next year. Record Loss Claims in Cryptocurrency Tax Filings In a press release by NODE40 – a cryptocurrency accounting firm, the company forecasts that the United States Internal Revenue Service (IRS) will receive a record number of cryptocurrency tax filings. Commenting on

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Where Will Bitcoin Price Go as It Nears November Lows?

Bitcoin price

The Bitcoin price was hovering near its lowest levels in 14 months December 6 a fresh downturn continued to take its toll on investors. Another Grim Day For Bitcoin Traders Having lost support at $4000 Tuesday, slipped further towards lows set last month around $3500, reaching $3680 before appearing to claim new support at $3700. In common with behavior which has prevailed since the Bitcoin Cash contentious hard fork November 15, altcoin suffered similar and

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