Bitcoin Update


Meet ‘Paypal for Crypto,’ a New Way to Pay With Bitcoin and Litecoin

Meet ‘Paypal for Crypto,’ a New Way to Pay With Bitcoin and Litecoin

The largest U.S.-based cryptocurrency exchange, Coinbase, is releasing a PayPal-like service of its own. On Wednesday, Coinbase wrote about its new platform that will make it easier for merchants to accept payments with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin through Coinbase Commerce. Using the platform on an e-commerce website adds a PayPal-like button to the checkout screen.
Bitcoin tops $10,200 as cryptocurrencies extend rally

Bitcoin tops $10,200 as cryptocurrencies extend rally

Bitcoin jumped above $10,000 Thursday for the first time in two weeks, as other major cryptocurrencies climbed and regulatory fears subsided. The cryptocurrency climbed 8 percent above $10,200 in early afternoon trading New York time on Coinbase, the largest U.S. marketplace for buying major cryptocurrencies. Bitcoin also topped $10,200 on CoinDesk's bitcoin price index, recovering more than $4,000 after dipping below $6,000 last Tuesday.
Barely anyone is paying the taxes they owe on their bitcoin gains

Barely anyone is paying the taxes they owe on their bitcoin gains

A tiny fraction of Americans are reporting their cryptocurrency transactions to the IRS, according to a study from Credit Karma Tax. Fewer than 100 of 250,000 federal tax returns prepared and filed so far this year through the company have filed a Form 8949 for cryptocurrency gains and losses, Credit Karma said Tuesday. That's less than 0.04 percent of filers.
Here’s the Solution to the 3-Year-Old, $50,000 Bitcoin Puzzle

Here’s the Solution to the 3-Year-Old, $50,000 Bitcoin Puzzle

On Thursday morning, a closely watched Bitcoin wallet address known as 1FLAMEN6 had a surprise transaction that drained the account of its five bitcoins, worth nearly $50,000 at the time. This Bitcoin wallet belonged to a crypto artist who goes by @coin_artist on Twitter, but she wasn’t despairing about the lost bitcoins—in fact, she was ecstatic.
Here are all the theories explaining the crypto market crash

Here are all the theories explaining the crypto market crash

LONDON — Bitcoin on Wednesday dropped below $10,000, almost 50% below its December peak, as the cryptocurrency market entered the second day of a sell-off. Almost all major cryptocurrencies fell on Tuesday and the market slump has extended into Wednesday. The combined value of the more than 1,400 cryptocurrencies in circulation has fallen to about $460 billion on Wednesday from over $800 billion at the start of January, data from CoinMarketCap.com shows.
China to stamp out cryptocurrency trading completely with ban on foreign platforms

China to stamp out cryptocurrency trading completely with ban on foreign platforms

China is to block all websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely. “To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” said an article published on Sunday night by Financial News, a publication affiliated to the People’s Bank of China (PBOC).
Way Too Many People Are Using Credit Cards to Buy Bitcoin

Way Too Many People Are Using Credit Cards to Buy Bitcoin

A recent poll shows that nearly one-fifth of all Bitcoin buyers are using credit cards to fund their investments, likely paying hefty fees for the privilege. A large portion of those buyers then carry the balance instead of paying their cards off, implying that they’re highly leveraged – but confident that their investments will grow in value.
Over $60 billion wiped off value of cryptocurrencies as bitcoin drops below $8,000 again

Over $60 billion wiped off value of cryptocurrencies as bitcoin drops below $8,000 again

Bitcoin fell below $8,000 for the third time in four days on Monday amid a broader sell-off in cryptocurrencies that has seen over $60 billion of valued erased from the market in 24 hours. The price of bitcoin traded as low as $7,598.20 on Monday and sat below the $8,000 mark for most of the morning's trade, according to CoinDesk. It's the lowest price for bitcoin since November 18. CoinDesk's bitcoin price index tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex.
Bitcoin Mining Could Power Growth For World's Biggest Chip Makers

Bitcoin Mining Could Power Growth For World's Biggest Chip Makers

Taiwan Semiconductor Manufacturing Co. is one of hundreds of companies that have benefited by supplying components for Apple Inc.’s iPhone over the past 10 years. Now the world’s biggest maker of bespoke microchips may see digital currencies like Bitcoin become even more important for its growth.
One in every 10 bitcoin transactions in the world happens in India

One in every 10 bitcoin transactions in the world happens in India

In India, bitcoin is the people’s forbidden fantasy. About 10% of the world’s bitcoin transactions take place in India, Constantin Papadimitriou, president of Pundi X, told Quartz. The Indonesian company, which focuses on offline cryptocurrency sales, surveyed 3,000 respondents across India, Indonesia, Japan, Russia, the UK, and the US to understand the rise of alternative currencies among mainstream consumers.


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