Beyond the Moon

2019-06-18 19:38:10 Peter Schiff: Facebook’s Cryptocurrency ‘Libra’ is Bad News For Bitcoin

According to Peter Schiff, Facebook’s soon-to-be-launched cryptocurrency called Libra or GlobalCoin is bad news for Bitcoin, the top cryptocurrency by market capitalization. The CEO backed his statement by the fact that Libra will be targeting the same market Bitcoin is relying on for its massive adoption. Libra will also help the unbanked nations with high inflation. And the best part “according to him” is that Libra is a stable coin and “much easier and cheaper to use as a medium of exchange than Bitcoin.”

In the case of the latter, Schiff gave a real-life scenario where the stable and inexpensive price of Libra will attract more customers to a restaurant that is accepting the virtual asset. However, Bitcoin’s expensive price would mean eating an overpriced food that could make you “sick to your stomach” when you consider how much you’ve paid for it. Thus, it is only those that do not want to eat that will visit such restaurant. Open / Comment

2019-06-18 16:37:55 Bitcoin Mining Consumes 1% of Global Energy, Report Reveals

The US Senate committee on Energy and Natural Resources issued a document stating that mining consumes about 1% of global energy. On public blockchains, mining embroils the computation of a massive amount of mathematical calculations known as hashes. On a normal day, Bitcoin miners collectively compute over 50 billion gigahashes per second.

A lot of cryptocurrency miners will enter this market in large numbers since it is gainful to mine, then, if in future it becomes less profitable, they will automatically drop out by themselves. Generally, cryptocurrency generation is to some extent a zero-sum game, since the total revenue earned per given time unit by a particular digital asset - let’s say Bitcoin - is fixed. For instance, Bitcoin, it is almost 12 - 13 BTCs per 10 minutes (600 seconds).

Besides these revenues, cryptocurrency miners can’t avoid certain costs such as those of electricity, hardware, participation fees, and other outlays of functioning data centers. Power costs are a considerable fraction of total costs, that is to say, the focal variable in the calculation which governs the power consumption of digital currency mining at balance is nothing else but the exchange rate existing between the digital currency and fiat currency like dollars.

Last year, Ethereum developers, announced a plan of switching Ether to a more effective mining-free model. Nevertheless, other cryptocurrency developers and the ecosystem behind Bitcoin, the original cryptocurrency, have intensely repelled big changes to its design. Open / Comment

2019-06-13 12:25:04 ‘ULTRA-BULL CASE’ FOR BITCOIN DRIVEN BY CENTRAL BANKS – ANTHONY POMPLIANO

Speaking to Bloxlive TV earlier in June, Pompliano said the next 18 months will be crucial for Bitcoin. The Morgan Creek Digital co-founder believes the plethora of developments with potentially global economic impacts will contribute to upscaling Bitcoin’s role in the global financial system.

Pomp drew a line linking trade tensions between the U.S. and China, dovish central bank policies and the 2020 Bitcoin halving as important drivers that will have a positive impact on BTC price.

Already, several market analysts warn that the current global economic trajectory is one tending towards another financial crisis. Bitcoin appears to be in prime position to ride this tumultuous economic wave, offering, as Bitcoinist called it in an op-ed late last year, “a non-political alternative to the money printing pyramid.” Open / Comment

2019-06-09 18:43:31 SEC’s William Hinman: ICOs Can Become Exempt From Securities Laws

Speaking today at the SEC Fintech Forum 2019, SEC Director of Corporation Finance William Hinman doubled down on previous statements that ICO-funded projects can become exempt from securities law if they become decentralized enough.

Hinman said during a speech last June that he believed Ethereum is no longer a security—despite running an ICO—because the network is decentralized to a high level. Now, he has suggested that this applies to other ICOs, focusing on the TurnKey Jet example.

TurnKey Jet was the first ICO to be issued a no-action letter by the SEC. This means the SEC does not deem the sale of TurnKey Jet tokens to be in violation of securities law. While it appears to be an obvious no-action case—the TurnKey network is already established and the token cannot be sold on secondary markets or stored on external wallets—this doesn’t have to be the case. Open / Comment

2019-06-07 15:54:34 The Binance DEX site has made changes to its rules, which implies restricting access to the exchange for users of a number of countries.

Thus, the exchange reports say that the ban will come into force at 00:00 UTC on July 1, 2019 for the following countries: USA, Crimea, Albania, Belarus, Bosnia, Burma, Central African Republic, Democratic Republic of Congo, Korean People - Democratic Republic, Cote d'Ivoire, Croatia, Cuba, Herzegovina, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova, Serbia, Somalia, South Sudan, Syria, Venezuela, Yemen, Zimbabwe.

The ban on trading will be determined based on the user's IP.

However, later the CEO of the Binance Exchange, Changpen Zhao, stated that the new rules do not imply that the residents of the countries mentioned will not be able to trade on the site. As his tweet follows, www.binance.org (website) blocks certain countries; DEX (blockchain) - does not block, it can not. Zhao also posted a link to a list of wallets offered by one of the users that support DEX and trade on it, adding: “There are many wallets that support trading on DEX directly. Website ≠ Blockchain. Open / Comment

2019-06-07 09:33:51 News is coming!

Japanese Tax Authorities Push for New Crypto Regulations

Crypto-related businesses and individuals have failed to report crypto gains valued at 10 billion yen ($93 million), according to Japanese Tax Authorities.

Asahi Shimbun reported that 30 companies and 50 individuals are being investigated for failure to account for astonishing profits made from cryptocurrency trading over a period of several years. This figure is linked to the sharp rise in value of virtual currencies in recent years.

One reason individuals avoid reporting their gains is due to concerns regarding the tax rate, which can exceed 50 percent on crypto earnings because they are considered miscellaneous income.

A senior National Tax Agency Official said "The fact that we are able to seek and confirm client data under the force of law will become a powerful weapon.” Open / Comment

2018-12-10 18:39:49 Receive up to 100 MGO tokens every day!
MobileGo Airdrop starts on 6th of December!

If you want to become a participant of an airdrop, you should:

-Follow MobileGO on all social media channels, retweet the news about GShare and esports platform – get 1 MGO;

-Install GShare and earn at least 1 GShare Gold – get 1 MGO;

If you complete both tasks and become one of the first 100 participants, you will get 2 extra MGOs!

10 users with the largest amount of GShare Gold earned in GShare will get 6 additional MGO.

Play esports tournaments and receive up to 100 MGO daily!

Don’t miss your chance!

Full instruction for the airdrop: http://bit.ly/2RxwxwY

Along with airdrop, MGO is now a part of a beta version of GShare app and esports platform.GShare is an app which was designed to earn GShare Gold by using PC power. Esports is a platform for gamers and also MGO token holders which hosts tournaments and allows to earn even more MGO and GShare Gold! Open / Comment

2018-09-30 17:20:57 Starters Idcs and Happy birthday center distributed tokens among citizens of Decentuion

In total, 100 million tokens with a nominal value of $ 1 each were distributed - 50 million from each project. The distribution occurred in proportion to the volume of ownership of the state tokens of DCNT.

September 28, 2018 - Startups-finalists of the first release of the accelerator Decenturion - Idcs and Happy birthday center - went to the domestic market of the state and distributed tokens. Citizens of Decentuirion received 50 million IDCS tokens (IDCS) and 50 million tokens Happy (Happy coin).

All five startups use the traditional token economy of the residents of Decentuirion: the issue is 100 million tokens with a face value of $ 1, 50% of the tokens are distributed among citizens, 50% are transferred to the project team with frost for 5 years.
More information you can find here - https://decenturion.com/ Open / Comment

2018-09-30 17:16:19 Current events for last day:

Today the decentralized exchange StellarX has started its work, offering customers full payment of fees instead of them and support of Fiat.

In the Ngava area, a hotel called Yitai was opened, which was the first to receive air as a payment from its guests.

The government of South Korea held a cabinet meeting to discuss the sale and brokerage operations with crypto-currencies and why this should not be included in the number of venture business ventures. Open / Comment

2018-09-29 12:11:33 I came across an interesting interview with the famous cryptoblogger Maxim Mernes and Ilias Mamedov, co-founder of the cryptocurrency fund Cosmos Capital Fund.


Open / Comment