This is an opinion editorial by Fangorn, a contributor at Bitcoin Magazine. There’s a lot to say in response to Warren Buffett’s recent Bitcoin critiques. It appears that Warren Buffett thinks bitcoin is worthless. He is wrong. Bitcoin is valuable because it represents the strongest form of property rights on a global level. Buying bitcoin is a bet that its…
Portugal’s parliament today rejected a proposal to tax Bitcoin and other cryptocurrencies. At a Wednesday evening budget session, the left-wing parties Bloco de Esquerda and Livre proposed taxing digital assets, but that idea was thrown out, online newspaper ECO reported via its live blog. The proposal had asked the government to consider taxing crypto profits in excess of €5,000 ($5,340.45).…
The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index seeing its longest run…
According to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been amended and the final release of the new Terra Core codebase has been released to prepare…
FTX CEO Sam Bankman-Fried did a lot of talking at the United States Commodity Futures Trading Commission (CFTC) staff roundtable on non-intermediation Wednesday. He fielded questions and issues from 31 industry professionals about the FTX.US application to offer clearing of margined products, including crypto-based products, without a futures commission merchant (FCM) intermediary. Many participants felt the need to mention their…
Air is passé and dielectric liquids are en vogue as the number of bitcoin miners building immersion cooling systems has grown rapidly in the past two years, with no signs of this trend losing pace. With mining difficulty consistently increasing, bitcoin’s hash rate continues setting new record highs and the dollar-denominated revenue produced by a single machine is decreasing. As…
Crypto prices have been exploring new lows for weeks and currently it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot ecosystem began to rally on May 24 and have managed to maintain gains ranging from 10% to 25%, a possible sign that certain sub-sectors of the market are on the verge of…
In brief Crypto scams keep popping up on Twitter. The latest features a deepfake of Elon Musk telling people to plug their cash into an illegitimate trading platform. The Tesla CEO was quick to warn on Twitter that the video wasn’t real. A video featuring an Elon Musk deepfake promising huge returns to invest in a dodgy cryptocurrency scheme has…
Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-assets market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin for Ethereum. The RFB’s declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the country to the regulator. At…
Cryptocurrency exchange Binance has signed a memorandum of understanding, or MOU, with the government of Kazakhstan to bolster “virtual asset market development” in the central Asian country. The signing of the MOU, which is between Binance and Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry, took place on Wednesday during Changpang Zhao’s official visit to the country. The Binance…
