Bitcoin Economics

2021-06-03 12:00:57 Ethereum mining will be added to Norton 360 antivirus

The new feature is called "Norton Crypto" and will be available to Norton 360 users participating in the testers program from today. All other clients will be connected to it in the coming weeks.

Bitcoin Economics Open / Comment

2021-06-02 19:59:51 US President Joe Biden called for a set of measures to track illegal cryptocurrency transactions amid increasing ransomware attacks.


The last such attack on the world's largest meat processing company, JBS, was associated with the REvil hacker group, which, in turn, is associated with the Russian Federation.

Bitcoin Economics Open / Comment

2021-06-02 10:25:37 Nikolaos Panigirtzoglu believes that after the fall of the cryptocurrency market in May, we should expect a deepening correction in bitcoin, and with it the entire market. Due to the high volatility of crypto assets, the interest of institutional investors in Bitcoin is starting to wane. This could lead to Bitcoin trading between $ 24,000 and $ 36,000, JPMorgan strategist predicts.

On the other hand, the strategist believes that in the future, bitcoin can reach the "theoretical" mark of $ 145,000, provided the volatility of bitcoin and gold converges. In addition, if the ratio of gold to BTC in an investor's portfolio is at about the same level, this will significantly increase the chances of Bitcoin to grow many times over. According to Panigirtzoglu, the price of bitcoin at $ 145,000 would equal its capitalization with the investments of investors in gold. They currently stand at $ 2.7 trillion, so it is unlikely that Bitcoin will reach such a high price in the near future.

Bitcoin Economics Open / Comment

2021-06-01 19:59:15 Bloodiest months (largest loss in value) for Bitcoin in the last 5 years:

• May 2021 —37%

• November 2018 —36%

• March 2018 —32%

• January 2018 —27%

Bitcoin Economics Open / Comment

2021-06-01 11:09:28 Central Bank of Ireland: "cryptocurrencies are a big problem"

According to one of the top managers of the Central Bank of Ireland, Derville Rowland, cryptocurrencies have become a "big problem" for the regulator.

“Crypto assets are highly speculative, unregulated investments. Investors should expect that by investing in such assets, they can lose everything, ”- said Rowland.

Earlier, Rowland said she expects a noticeable increase in the attention of European regulators to cryptocurrency investments. According to her, such investments are too similar to gambling, which means they should be regulated.

As early as this July, Rowland is due to take over as chair of the European Securities and Financial Markets Service Standing Investment Management Committee, which is responsible for preparing regulation for the financial industry.

Bitcoin Economics Open / Comment

2021-05-31 19:21:36 Trading volume on cryptocurrency exchanges exceeded $2 trillion for the first time in a month

For the fourth month in a row, the trading volume on cryptocurrency exchanges exceeds $1 trillion, and in May for the first time in history it exceeded $2 trillion.

The total trading volume on major cryptocurrency exchanges for the first time exceeded $1 trillion in February this year. Meanwhile, while the figure was $1.23 trillion in February, it dropped slightly to $1.17 trillion in March. April showed a noticeable increase to $1.66 trillion, and in May the trading volume exceeded $2.2 trillion.

Binance remains the dominant exchange on the market. In May, the volume of transactions on the platform exceeded $1.5 trillion. This represents two-thirds of the total trading volume on cryptocurrency exchanges.

If we choose platforms, which trade cryptocurrencies for fiat money, then the leader will be American exchange Coinbase, the users of which made transactions for $198 billion.

Bitcoin Economics Open / Comment

2021-05-31 15:00:11 The U.S. Treasury Department is proposing to expand reporting requirements for cryptocurrency brokers, including cryptocurrency exchanges and custodial wallets, and require them to report beneficial account holders. This data would then be transmitted to automated international reporting networks, which include the U.S. Under the proposal, these requirements should become mandatory for tax returns filed beginning in 2023. Open / Comment

2021-05-31 14:59:48 U.S. Treasury may expand reporting requirements for cryptocurrency firms

Late last week, U.S. President Joe Biden's administration released its 2022 budget proposal. Along with the new budget, the Treasury Department released an explanation of the administration's revenue proposals. The Treasury Department proposed expanding cryptocurrency reporting requirements to combat tax evasion. 

"Tax evasion using crypto-assets is a rapidly growing problem," the Treasury Department explained. "The global nature of the cryptocurrency marketplace enables U.S. taxpayers to hide assets and taxable income through offshore cryptocurrency exchanges and wallet providers." 

Bitcoin Economics Open / Comment

2021-05-31 10:58:30 The Central Bank of Sweden will test the state cryptocurrency together with the bank Handelsbanken

The central bank of Sweden is partnering with the commercial bank Handelsbanken to test the digital krona and the ability to process payments in state cryptocurrency.

In April, the Swedish Central Bank announced that it plans to include commercial banks in the next round of testing, which will assess how the digital crown can be used for large commercial and small retail payments.

“The e-krona pilot project is moving from simple modeling of participants to cooperation with external participants in a test environment,” the Central Bank of Sweden said in a statement.

According to Handelsbanken, for the bank "the initiative means the opportunity to participate in a project that may end with the release of one of the first state-owned cryptocurrencies in the world, available to the public."

Bitcoin Economics Open / Comment