Daily Crypto Briefing – 02 April 2018

373

Welcome to April! While yesterday was the day of Fools, the price of Cryptocurrencies are not fooling around, they were going down, but now we might be on a rebound? Poor attempt at humor. Above $7K, Bitcoin eyes gains after failed “Death Cross.” However, it did register the worst Q1 in its history with losses of over $114 Billion. Despite the drop, adoption is strong in Japan and South Korea.

Harvard professor (Kenneth Rogoff) says Bitcoin price will go to $100, of course, that is flawed logic. He is joined by Nobel Winning Economist Joseph Stiglitz who is also wrong about Bitcoin. They should listen to Nvidia CEO who says Blockchain and Crypto are here to stay and will shape business future.

A couple interesting developments to be mindful of is Bitcoin is close to cutting fees with better coin selection and Bitcoin LIghtning reaches new record – capacity expands up to $70,000. Also, Ethereum community is mulling over a Hard-Fork to make Bitmain ASICS obsolete. Vitalik proposes a cap on Ether to 120 Million. Ripple (XRP) partners with IBM’s Hyperledger.

More adoption is on the way with TD Bank considering using the Public Blockchain for asset tracking. However, they didn’t indicate which public Blockchain they would consider. IBM is finally getting serious about Cryptocurrency by talking with commodities trading platforms, large corporations, and central banks to help implement Cryptocurrencies. AirAsia is planning to launch a Cryptocurrency-based rewards program; Blockrize Card is doing something similar.

With less than a couple of weeks left for tax season, the maddening task of calculating taxes are crypto remains. Do you owe the IRS for Crypto-to-Cryptotrades? If you are not sure – you could check out TaxToken software that can help determine that for you.

This is not an April Fool’s joke but Smart Contracts are seeping into U.S. Law by Tennessee joining Vermont, Arizona, and Nevada at passing a bill to accept them as legal contracts; Hawaii, Maine, and Nebraska have bills pending. Stay tuned because soon, IMHO, the globe will use Smart Contracts.

Globally, China’s waning influence on the global Bitcoin economy, China’s New Central Bank Head Is Pro-Market, Could It Impact Cryptocurrency Industry? Russia Unveils Ico Regulations, Underpinned By The Ruble, Thailand Inches Closer to Cryptocurrency Taxation, Taiwan Central Bank Proposes Money Laundering Rules for Bitcoin, Korean Police Bust Bitcoin Miners Illegally Using Cheap Factory Power, South Korean Regulators To Release Crypto Tax Framework By June, Kazakhstan Looks To Ban Cryptocurrency, While Remaining Firmly Corrupt.

There is so much more going on and the only way to know is to click HERE for all the articles from the past 24 hours.

Happy Investing and Trading!

BONUS: Noded 0.10.0 with Murch