This Painfully Boring CNBC Crypto Debate Is Bullish as Hell for Bitcoin

By CCN: If you’re looking for reasons behind bitcoin’s recent price surge, this video tells the whole story. Because it’s so completely dull. Has bitcoin gone too far, too fast? Here's how two traders are thinking about bitcoin futures. via @CNBCFuturesNow https://t.co/StSHvYGYD9 pic.twitter.com/aHKgt62GNe — CNBC (@CNBC) May 22, 2019 The two established analysts with decades of trading experience talk about bitcoin with maturity and logic. They make a strong case for allocating portfolio funds to crypto, and no-one mentioned bubbles or scams. The way people talk about bitcoin is changing, especially on mainstream finance outlets. It’s evolving. Bitcoin is a

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Bitcoin Bull’s $800,000 Tax Bill Due as Israeli Court Rules Crypto is ‘Property’

By CCN: An Israeli court has ruled that Bitcoin is not a currency but rather an asset. This was in a case brought forth by Noam Copel, a blockchain entrepreneur, according to business publication Globes. The ruling means that Copel will pay taxes of New Israeli Shekel (NIS) 3 million ($830,115). This is after making profits of over NIS 8 million ($2.2 million) trading bitcoin six years ago. In the course of presenting arguments, Copel had made the case that bitcoin should be classified as a foreign currency. The country’s tax collection agency, Israel Tax Authority, had made the opposing

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Newsflash: Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council

By CCN: According to Sa Xiao, a Council Member at the Bank of China’s Law Research Association, it is legal for individuals to own bitcoin in China despite the government’s blanket ban on trading. CnLedger, a recognized crypto news source based in China, said: ‘It is legal to own bitcoins in China’ says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides, Xiao considers the occasional exchange of bitcoins between individuals and individuals is legal. In September 2017, Caixin, a Beijing-based mainstream media outlet, reported that China officially banned crypto trading, forcing

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Bitcoin SV Pumps 125% as Calvin Ayre Runs Friend’s Satoshi Victory Lap

By CCN: Bitcoin SV (BSV) more than doubled in price on Tuesday fresh off the back of confirmation that Craig S. Wright had registered Bitcoin copyright claims with the U.S. government. The 125% pump in BSV’s value may have been helped along (not a legal term) by Bitcoin SV cheerleader Calvin Ayre. The billionaire owner of Coingeek appeared to ‘inflate’ the importance of Craig Wright’s purely cosmetic copyright claim, suggesting it confirmed his status as Bitcoin founder Satoshi Nakamoto. Calvin Ayre: Convert Your ‘Sh** Coins’ to Bitcoin SV Ayre started off the morning with a celebration of Craig S. Wright’s

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John McAfee Living in a Constant State of Paranoia Launches Podcast

By CCN: Following John McAfee’s triumphant return to Twitter after a brief hiatus, the software mogul and his wife on Tuesday announced a new podcast about life on the run. What happened last week. pic.twitter.com/Z0HWHwpuxc — John McAfee (@officialmcafee) May 21, 2019 McAfee’s Life on the Run In their announcement, McAfee and his wife describe living on the run and hiding from the government. The software mogul also informs followers that the couple’s brief social media absence was because of an incoming raid. Can’t Keep John McAfee Down The outspoken presidential longshot is also a fugitive who will face arrest upon

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Craig Wright’s Bitcoin Copyright: Blockchain Bombshell or Absolute Farce?

By CCN: As CCN earlier reported, Craig Wright has officially filed a copyright claim for the Bitcoin whitepaper. But what does this mean for Bitcoin and crypto generally? In short, it means very little. For starters, the Bitcoin project was initially released under the MIT License. One of the most permissive licenses, it only requires that those who modify and redistribute the code do so under a different title. Open Source Trumps Copyright It gives anyone with the chops to do so the freedom to modify and redistribute the code as they see fit. Having a copyright on the system

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Bitcoin Can Wreak Havoc by ‘Ruining’ Governments: Senior Russian Official

By CCN: A top official with Russia’s State Duma (the Russian Parliament) warned that bitcoin has the capacity to ruin governments because it could facilitate the offshoring of massive amounts of money. Nikolay Arefyev, the deputy chairman of the State Duma committee on economic policy, sounded the alarm at a May 20 press conference, Rambler reported. Official: We don’t want capital exodus from Russia Specifically, Arefyev warned that cryptocurrencies could lead to Russia’s collapse because it could trigger a mass-withdrawal of capital to offshore accounts. “If cryptocurrency worked, we would be completely ruined today because all financial flows would be

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Bitcoin ETF Not ‘Imminent’ But Could Upend Crypto Market in 2019: Expert

By CCN: A bitcoin ETF does not wait on the immediate horizon, according to the managing director of ETF.com, Dave Nadig. A veteran of the exchange-traded fund market and an indexing expert, Nadig told CNBC’s Bob Pisani that a bitcoin ETF was not “imminent” but remained a strong possibility for 2019. Bitcoin ETF Not Imminent, Says Market Expert Dave Nadig Dave Nadig told CNBC there was no reason for any immediate hope of approval and that the regulator would likely exercise its authority to “kick this can down the road” and avoid making a decision as long as possible. “The

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Lambo-Lusting Britons Lose $34 Million to Forex, Bitcoin Investment Scams

By CCN: United Kingdom’s financial regulator, Financial Conduct Authority and the reporting center for scams and cybercrime, Action Fraud, have issued a warning following a surge in online Bitcoin and forex investment scams. Per the two bodies, Britons lost more than £27 million ($34.2 million) to fraudsters during the 2018/19 period. In 2018, reports on bitcoin and forex investment scams more than tripled to reach over 1,800 cases. The average loss for each victim during the 2018/19 period was £14,600 ($18,532). The scammers are employing social media platforms to promote these investment schemes. Typically, they are promising excessively high returns

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Aussie Bitcoin Miner Retrofits Government Computers, Faces 10 Years in Prison

By CCN: A man from Sydney, Australia will appear in court on Tuesday after turning a government computer into a bitcoin mining rig. He allegedly mined $9,000 worth of cryptocurrency on the modified machine. The 33-year old IT contractor allegedly tweaked the federal government computers to optimize them for bitcoin mining. If found guilty, he faces a maximum of ten years in prison. Mining bitcoin at work In the months previous, police raided the man’s house, confiscating a laptop, smartphone, employee ID cards, and various computer files. The Australian Federal Police (AFP) say he took advantage of his trusted position

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