Crypto Dygest 21 Feb 2018
CRYPTO DYGEST 21 FEB 2018
Top 5 News For Today - 21 Feb 2018
Summary:
SegWit adoption for Bitfinex and Coinbase will happen within two weeks; NASA plan to explore space with blockchain and AI; Tesla’s cloud servers hacked for crypto-mining; Petro pre-sale has been launched and president claims $735mln worth of coins were sold; Israel will tax crypto assets as property with taxes up to 42%.
BONUS Thread of The Day
Finland Confiscated 2000BTC and Not Sure What to Do.
1.SegWit Adoption at Bitfinex and Coinbase
This week two major exchanges announced SegWit address support. In simple words – faster transactions, lower fees and total network capacity improvement. With BTC fees and transaction times raising higher than ever, this SegWit adoption is what the industry needs. Implementation will take place later this week for Bitfinex and next mid-week for Coinbase. Let’s all cheer for cheap fees!
2.NASA and ESA Looking Into Blockchain
NASA and European Space Agency (ESA) are considering blockchain applications for their space programs. Interesting to note the different approach from both of these agencies, as US based NASA wants to implement blockchain into their space mission. Upgrade to their space-based sensors network with Artificial Intelligence and blockchain technologies is what they are looking for, while ESA only wants to adopt blockchain for their administrative areas… C’mon ESA! Wake UP! You are not banks, you are space explorers. Let office planktons do the admin…
3.Tesla’s Cloud Hacked to Mine Cryptocurrency
Whoah! While sending his shuttle to space, somebody forgot to check their closet’s door. Hackers found vulnerabilities in Tesla’s cloud services, hosted by Kubernetes, Google-designed system. The funny thing though is, hacking cloud services and using computer power is more beneficial then stealing data. Good job hackers. Well done!
4.$735mln of Petro Sold in Pre-sale
Yesterday, a pre-sale of Venezuelan national cryptocurrency has started. President claims that $735mln are sold already. Extremely interesting situation to observe. If this goes well, I am sure we will see more national cryptocurrencies appearing. Main goal for Petro is to create a secondary market for their coin on world exchanges. Which is good as an idea… until whales decide to pump-and-dump it. Coin aims to start trading at $60.
https://news.bitcoin.com/venezuela-pre-sale-oil-backed-petro-cryptocurrency-raised-million/
5.Israel Plans to Tax Crypto-Assets as Property
The idea of taxing cryptocurrency transactions is something all countries are trying to solve. It is unfeasible to ban crypto trading, because 1. People will trade it any way 2. The market is so big that claming VAT will add up to country’s budgets. But each country tries it differently. Israel now issues bill to tax crypto as property. That means that all crypto will be a subject to 20-25% capital gains tax and for miners and traders and additional 17% VAT. Holy moly that is a lot! Let the dark net rule the world.
https://cryptona.co/israel-sees-tax-cryptocurrencies-property/
BONUS Thread of The Day
Finland does not know what to do with 2000 confiscated BTC. Sell it I guess.,,
This is it for today.
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See you tomorrow!