Since I began writing this, I learned that RobinHood is going to be adding QTUM to the list of coins that can be monitored from its platform (not traded). Although it won’t be tradable when RobinHood launches its crypto trading, the fact that it’s on the watchlist makes QTUM much more appealing to me. It’s a competitor to EOS but keep your eye on it.
PRO/CON: In the U.S. cryptocurrency is legal, regulated, and when held for investment taxed like investment property… this is good. It means you can keep a tally of your trades, treat them as capital gains, and then get right with the IRS just like with any capital investment. On the other hand, the exact rules are murky and this complicates things. For example, it isn’t 100% clear that the rules of like-kind property exchange apply to cryptocurrency. Assuming they do apply, that means every trade from one cryptocurrency to another is a taxable event for the year. Meanwhile, if they don’t apply, then you don’t pay taxes on cryptocurrency until you take it out of cryptocurrency and convert it to USD (or otherwise spend the coin). This is far from the only tax consideration, thus one should study and consider the tax implications of cryptocurrency before making investments in the cryptocurrency space. That means you may need to hire an accountant, thus that cost must be considered.
NEW YORK, Dec. 11, 2017 /PRNewswire/ — Grayscale Investments, LLC, in its role as agent (the “Agent”) of the shareholders of record (the “Record Date Shareholders”) of the Bitcoin Investment Trust (OTCQX: GBTC) (the “Trust”) as of November 6, 2017, announced that it has today completed the liquidation of approximately 172,501 Bitcoin Cash tokens distributed to it as Agent on November 6, 2017.
This fact has greatly contributed towards the rise in the value of cryptocurrencies. Of course, there are some genuine applications of these currencies and, increasingly, a lot of renowned international websites and merchants have started accepting them as a legitimate form of payment.
Now back to the chart. A beautifull symmetrical triangle shows us huge opportunities to break out soon. If it doesn’t happen as predicted in this chart, it will bounce back to the support line and try again… I will publish another chart where I keep track of the breakout. To keep up to date you can follow me.
Research has shown that since the inception of Bitcoin in 2009, about one-third of bitcoin exchanges have been hacked. Despite efforts to improve cyber security at exchanges and Bitcoin startups, the risk of large-scale hacks is real and one that will most likely occur again in the future. However, high profile hacks should only have short term effects on the price of bitcoin and should not really affect its long term price development.
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An added benefit of Zcash’s optional privacy is that it enables any Zcash token to be traded like any other Zcash token. So-called private transactions allow users to obscure the details of their payments and therefore help prevent anyone from discriminating between coins based on their history. This known as fungibility, is “necessary in order for [a currency] to become a liquid medium of exchange,” Beck says.
The core features of Bitfinex are exchange trading, margin trading and margin funding. This gives investors more options to deposit, trade and withdraw digital currency either in cryptocurrencies or traditional currencies.
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But what would happen if bankers embraced the blockchain? Enter Ripple, the “banker’s cryptocurrency.” Similar to bitcoin, Ripple seeks to streamline and accelerate global payments and transactions. The current platform for these functions was created prior to the internet’s advent.
And because the blockchain expedites and improves on almost every aspect of portfolio management, the excessive and high fees that are typical in the investment world will be significantly lowered for their users.
Where do the price and value of bitcoin go from here? Unfortunately, my crystal ball is broken. I personally believe that within a few years, bitcoin could fall anywhere — from being known as a worthless experiment, to being the greatest disruptive force the financial industry has ever seen.