Good Morning Bitcoin.
Today is Monday July 3, 2017
My name is Thomas Hunt
And here’s what’s happening, Today in Bitcoin…
The Bitcoin legal situation in Colombia is complex. Bitcoin is not legal tender, but as an investment, you still must pay taxes on your Bitcoin. However it can be very difficult for the government to prove that you have purchased your bitcoin, especially if you bought them with cash or lost them long ago.
Country by country continues to first develop and then refine their bitcoin regulation as each one realizes, that bitcoin is not going away. Ever.
https://cointelegraph.com/news/bitcoin-is-not-legal-so-let-us-tax-bitcoin-colombian-government
A Goldman Sachs analyst says that there could be a fifth wave in the Bitcoin price rise, driving the value of the cryptocurrency up another 50% to $3,915. Despite current uncertainty in the Bitcoin scaling situation holding back the price, there remains great demand, which could always push the price higher.
http://www.cnbc.com/2017/07/03/goldman-sachs-says-bitcoin-could-rise-another-50-percent.html
In a speech that almost seems like scripted propaganda, Jihan Wu, CEO of Bitmain and essentially the representative of Bitcoin Miners, chided Bitcoin for not advancing technologically and allowing innovations like Smart Contracts and ICOs to fall to the altcoins.
Jihan failed to mention Bitmain’s role in blocking the Segregated Witness upgrade, which may have allowed for many of the same technologies that he claims were lost. Meanwhile Jihan continued to show support for his own Extension block proposal as a means to scale bitcoin. He did not appear to mention the UASF or Segwit2X and the New York Agreement at the conference. For more on Jihan Wu’s trip to The Netherlands, check out Theo Goodman’s interview with him on BitsOnline, links as always in the description below.
https://coinjournal.net/bitmain-ceo-jihan-wu-bitcoin-needs-smart-contracts-icos/
Previously…
Bitcoin’s own Naomi Brockwell, aka the Bitcoin Girl from the incredibly well made Billy Joel song parody of the same name was featured on Fox News’ Making Money program.
Naomi focused on Bitcoin’s decentralized nature and it’s ability to help people in Venezuela by offering them a solid currency to trade with while their currency has been wracked and destroyed by inflation.
Host Charles Payne seemed very bullish on the cryptocurrency despite his previous beliefs; saying that the coin could rise to $1 million a coin and maybe even $1 Billion.
FBI Says Hackers Managed to Extort $28 Million in Cryptocurrencies
Bitcoin and ransomware were a major topic in the FBI’s International Crime Report. Ransomware was on the rise in 2017 with more than $2.4 Million in ransoms paid and 2,673 reports of ransomware infection.
Tech support fraud continued to be a problem as well, raising $7.8 million, the scams proceeding mostly by the false tech support convincing the user to infect their own machine, then charging them in money or gift cards.
There’s no indication that the FBI has any solutions for these problems based upon the summary of the report provided by The Merkle. One could only assume their support for users updating their machines to the latest version as well as asking the NSA to stop storing dangerous 0-day malware for their own use and to instead inform the companies of the security problems, protecting the public’s data.
Meanwhile a unique case in India of a man scammed for Bitcoins he did not receive has led to a kidnapping situation where the man is now demanding a ransom, in Bitcoin. Bitcoin continues to take off in the subcontinent, in the wake of an alleged ponzi scheme known as Webwork that raised $77M including investments and endorsements from several well known Bollywood celebrities.
A luxury private villa has just sold in Switzerland, for a very affordable 863 bitcoin or around $2 million dollars. It is the very first real estate sold in Switzerland for Bitcoin. The villa is located in the Italian canton of Ticino, built in 1954 with an area of around 165 square meters, including a pool, a garden and a view of the lake.
And finally, a breaking story from Crypto Currency News, reporting that South Korea is preparing to regulate and legalize bitcoin. The bill would mandate regulatory approval for the cryptocurrency as well as addressing corporate and personal income tax laws. The bill is only a draft proposal but does follow on South Korea’s Financial Services Commission's announcement that they hoped to regulate Bitcoin some time this year.
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Gooo Bitcoin!
Bitcoin is going to hit new high for sure.
BITCOIN, why u no go up ლ(ಠ益ಠლ)
Lo mas provable
FREE 0.00006445 BTC $0.16 USD FOR DAY
FREE 0.00193347 BTC $4.91 USD FOR MONTH
ITS PAYING OUT EVERY 12 HOURS
CHECK OUT MY WALKTHROUGH ABOUT THIS
https://steemit.com/bitcoin/@quantumdragon/nanohash-bitcoins-real-1
🚨 SCAM ALERT 🚨
Look up Nanohash on Youtube or google
Looks like a fraud
@Wiedy
nanohash is still paying you are a spamer im just spreading a new mining cloud, its paying out so is not a scam if you can prove it is a scam give the info, not just writte on all my comments the same, i can do it back and flag you because its paying right now and is online http://nanohash.net
Do you mean I am a "spammer"? How do I spam if I am just commenting under YOUR spam? I just want to warn people so lets see who gets more upvotes.
I think Nanohash is a scam because there is no real support on their site, they say the telephone number is coming soon, the registrated adress is a small landside in the UK, the server is in russia, there are numerous articles that users had a bad experience, they tell you min payout is 1$ and then they tell you its 20$ and you should mine more...
You just want people to use your affiliate link thats all!
But yeah, thanks for the downvote!
Rant over @wiedy
indeed. they said that their datacenters are from russian federation iceland and germany, and so then why is paying out right now? scam is when someone invest and loss they are giving for free 15KH/s for anyone who wants to start a mining bussisnes, and they are paying out, look payout 0.420 BTC in 9 days, its my second day and look there are the double of new total users, im the 4325
https://www.nanohash.net/about
You Sir are straight up naive!
As you say you are there since two days and never got a payment!
They dont even tell you what coin you are "mining"
They claim to have paid out whopping 0.42 BTC thats not even 1500 USD haha; 12% interest per day 4500% annualy I mean come on man
I am not going to answer another time @wiedy out!
Show proof of payout on the free accounts. Screenshot, with Trans/hash ID. No "free" cloud miner pays out dude. Half of them are worse than HYIPs
@acis ez view this video,
and check out my posts then you will see more about mining clouds my next episode will be the worst mining clouds !!
I am following you buddy. Thanks for your content. There are some people from Venezuela here on steemit.com. I did ask personally how useful they think BTC is. The answer is: Seems to me nobody can pay on the street with BTC. They want USD. So I wonder who is interested to make us believe that crypto is in such high demand in South America.
Bitcoin has had a rough ride recently but it's going to soar again soon!
Thanks! Very useful!
Wow there is certainly a lot happening in the Bitcoin world. I think that this is just the beginning!
great post, I am feeling Bullish!
A very nice post. Thank You!
India and China will continue to drive the price of BTC up fingers crossed.
im glad that bitcoin gained the attention of goldman sachs, shows that this crypto community is spreading fast and has a lot of potential value in the future!
BITCOIN, why u no go up ლ(ಠ益ಠლ)
Bitcoin will never fade out long term inverstors know it
Define long term. Given the current situation of lagging technology and innovation, it can lose its top position in the next 5 years and gradually fade out by other altcoins. Unless bitcoin is going to solve the scaling issue and embrace new ideas.
Alta reports pradict 4500 this month. Going to be a fun ride. Also says we should see plenty of crocodile teeth patterns on our way up this month. OAlso alot of stimulants from out side countries come into play on the 20th of this month calming over the 28th. Good luck every one.
Wow. One whale vote is worth quite a few Benjamins. Congrats !!
Good post by the way.
I upvoted you as well, added a dime to the total. LOL
STEEM On !!
Dave
Great summary - hard to keep up with so much happening. Followed. Hope you keep producing more stuff like this.
Nice post about the cryptos. Followed and upvoted. Checkout my blogs and follow back if you find them interesting :)
One billion $? Get real, Charles!
Great post thanks for sharing
I wonder what the tax situation was on selling the house for BTC? I do believe crypto currency is the future of money but I am worried about the tax issues with it.
As I'm getting a bit older my main focus for crypto right now is as a supplement to my retirement funds. Since I paid taxes on the money I moved into crypto when I got paid, am I going to get hit with taxes again when I pull it out to spend it when I retire?
Thanks for the article madbitcoins unit.
Bitcoin is going way past $1 million per coin!
I came here to totally apologize for misspelling Colombia, which I spelled like Columbia Records. But also, whoa! thank you for your support, Steemit! :)
Great read. Where do you find all this information?
Let us hope that there will be an opening to the market for cryptones in our countries. Great article. regards @madbitcoins
Some ICOs are blocking the US from participating in them. One of them is https://eos.io/ . How unfortunate. Some governments are really looking at this a threat as the purpose of cryptocurrencies is to debank all of us. Could this be the end of banks?
I agree wuth you.Bitcoin is king of the crypto currecy world.this post is very useful to me.thank you very much sharing your valuble knowledge.keep it up. GOD BLESS YOU
Good article. An interesting read and some good information.
It is evident that not many countries are taking the defeat to cryptocurrency well.
thank you for sharing.....
Colombian here. They are not gonna take a single dime from me. Stupid government.
What kind of war will the people who want to make a positive difference on human lives and the government who wants to try and keep poor people poor?
We often hear that knowledge is power... people are being informed and aware of bitcoin's huge greatness in changing the world for people to have a better living standard.
Japan has already made a vast impact on their country's future which is good.
I say thumbs up to the cryptocurrency world.
Nice, like how you incorporate all the different countries. Curious to see how Korea develops!
Thanks for the article. Good to know bitcoin gain interest from GS and south korea
Thanks for the great update of the crypto world!
interesting
Good advice Boss, this is really helpful, thank you. I look forward to more of your post. I resteemed and followed so this can help more people.
Bitcoin rising speedily but just an assumption hardly makes difference in price
Great review, thanks for your post - following for more quality crypto news
Subscribed.
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