BITCOIN NEWS TODAY
Bullish signs for Bitcoin. The cryptocurrency achieved a six-day high, clawing its way above $9,000 on Staurday, but Sunday the price fell below $8,000 again before climbing once again. It currently rests at just over $8,500.
Today has been good news across the board, as most cryptocurrencies are climbing steadily. Most have single-digit gains and looking to bounce back to prices seen before the crypto price crash throughout most of January.
(Source, Coin Market Cap.)
ICELAND are today deciding to implement a Bitcoin mining tax.
Due to Energy Consumption, Iceland are deciding to introduce a tax on Bitcoin mining. In the right circumstances mining Bitcoin can be very lucrative. In fact, annalists are now predicting that electricity consumption for mining Bitcoin may over take standard in home consumption of the entire country. With huge amounts of electricity needed to operate the computers that are needed to create bitcoins, large virtual currency companies are setting roots in the North Atlantic island nation that have an abundance of renewable energy.
Smari McCarthy of Iceland’s Pirate Party a prominent lawmaker said: “Under normal circumstances, companies that are creating value in Iceland pay a certain amount of tax to the government. These companies are not doing that, and we might want to ask ourselves whether they should.”
The Winklevoss brothers.
Internet entrepreneurs, Cameron Winklevoss and Tyler Winklevoss predict that the price of Bitcoin could be worth 40 times its current value one day.
Speaking at the Milken Institute's MENA Summit. Cameron Winklevoss said: "We believe bitcoin disrupts gold. We think it is a better gold; if you look at the properties of money and what makes gold, gold? Scarcity. Bitcoin is actually fixed in supply so it is better than scarce, it is more portable, its fungible and more durable. Its sort of equals a better gold across the board."
Cameron then stated: "So if you look at a $100 billion market cap today, last week it may have been more like $200, so it is actually a buying opportunity, we think that there is a potential appreciation of 30 to 40 times because when you look at the gold market today, it is a $7 trillion market and a lot of people are starting to see that, they recognize the store of value properties. So we believe regardless of the price moves in the last few weeks, it's still a very underappreciated asset."
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You got a 6.33% upvote from @brupvoter courtesy of @jasonvme!
No wonder Iceland wants to profit from its many mining farms. Just wrote a post yesterday about Iceland now using more energy to power mining farms than to powering their homes.
I for myself do not like those Winklevoss brothers and have no intention to give anything they say any credit. Like literally every "super-rich" person they are just interested in making money, so I'm not surprised hearing them say that since they are about to get regulation to launch there bitcoin fund on wall street.
I would totally agree in regards to the Winklevoss brothers but I do support anyone that supports Bitcoin.
Iceland are well with their rights to try and gain from the Bitcoin mining industry. In these times with our carbon footprint at the forefront, miners need to find more eco friendly ways to mine for profit. I do appreciate the comment. Thank you
You got a 1.68% upvote from @mercurybot courtesy of @jasonvme!
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There is no need for such taxation.
There is high fluctuation and coin price instability.
Good enough it's appreciating in value.
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