Zcoin Releases Academic Paper on Lelantus Protocol to Tackle Privacy Blockchain Issues

Source From https://coinjournal.net/zcoin-releases-academic-paper-on-lelantus-protocol-to-tackle-privacy-blockchain-issues/

Some of the challenges faced by privacy blockchains include scalability and useability. Yet, one privacy coin believes it has the answer to solving these with its new protocol. Zcoin, which in November had a Thai song added to its blockchain to fight censorship and government corruption, has released an academic paper for its Lelantus protocol. It is […]

The post Zcoin Releases Academic Paper on Lelantus Protocol to Tackle Privacy Blockchain Issues appeared first on Coinjournal.

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Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding Crypto

Source From https://news.bitcoin.com/lawsuit-nvidia-statements-crypto/

Shall Law Firm, an American shareholder rights litigation firm, has announced the filing of a class action lawsuit against Nvidia with regards to statements pertaining to the company’s outlook regarding the effect that declining cryptocurrency prices could have on the performance of its shares.

Also Read: Bitcoin Whales and the Rise of Crypto-Fueled OTC Desks in 2018

Firm Files Class Action Against Nvidia

Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding CryptoA Los Angeles-based law firm has announced the filing of a class action lawsuit accusing graphics card manufacturer, Nvidia, for “violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.”

Nvidia is accused of making “false and misleading statements to the market” regarding assertions that a significant decline in demand for graphics processing units (GPUs) would not negatively impact the company’s operations and performance due to high demand from the gaming sector.

Schall Law Firm is currently encouraging investors who purchased Nvidia’s shares between Aug. 10, 2017, and Nov. 15, 2018, to contact the firm before Feb. 19, 2019, especially investors who incurred losses exceeding $100,000.

According to Shall, the GPU manufacturer “touted its ability to monitor the cryptocurrency market and make rapid changes to its business as necessary” and made “materially misleading” comments throughout the six-month period.

Nvidia Hit Hard by Cryptocurrency Downturn

Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding CryptoNvidia appears to have been significantly hit by the cryptocurrency bear trend, with the company having the worst performing stock in the S&P 500 of the fourth quarter of 2018 with a 54 percent loss in value.

While a number of chip stocks have performed poorly of late – with the PHLX Semiconductor Sector Index, comprised of 30 companies including Nvidia, dropping 19 percent, and Advanced Micro Devices stock losing 45 percent – many have cited declining demand for mining hardware as a catalyst for Nvidia’s notably poor performance.

The recent dumping appears to have been fueled by the reporting of a weaker-than-anticipated quarterly revenue and guidance from Nvidia last month, with the company’s stock falling roughly 19 percent on the trading day following the earnings report.

“The crypto hangover has left the industry with excess inventory – excess channel inventory,” Nvidia’s chief executive officer, Jensen Huang, stated on a conference call at the time.

Do you see merit in the case being brought against Nvidia? Do you agree with Shall that Nvidia made false and misleading statements? Share your thoughts to the comments section below!

Images courtesy of Shutterstock

At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding Crypto appeared first on Bitcoin News.

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The Tatiana Show Ep.162 Oliver Gale

Source From https://letstalkbitcoin.com/blog/post/ep-162-the-tatiana-show-oliver-gale

People often talk about potential uses of cryptocurrency to help the underbanked in Africa, Asia, and Latin America, but what about the Caribbean? Back during Consensus, I met with Oliver and was fascinated by his work in Barbados and other islands. There are some unique opportunities specific to the region that offer real world utility and even a stable coin! Are you as intrigued as I was? Tune into this episode of the Tatiana Show and learn more about the innovation at Bitt and the work they are doing in partnership with the local central banks and the government. No matter where you are on the political spectrum, one has to applaud the forward thinking policies that can give a competitive edge to some of the smaller countries in the world stage.

As a bonus, here is a cool music video by Oliver, really fun! https://www.youtube.com/watch?v=3QIjz4k-8vI

About the Guests:

Founder ofBitt.comandBaseTwo.com,Oliveris a global advocate on digital fiat currency and distributed ledger technology, a serial entrepreneur, and in his free time an award winning recording artist.

Championing educational and policy making discussions at the United Nations, International Telecommunications Union (ITU), Commonwealth Secretariat, Caribbean Development Bank, MIT, Columbia University, as well as numerous central bank forums and stages around the world, Oliver is a leader in the field of central bank digital currency and the development of DLT in the Caribbean. He is a member of the Financial Inclusion Global Initiative (FIGI), a Bill and Melinda Gate Foundation project launched in collaboration with the World Bank and UN to set global policy frameworks for digital currency.

In 2017 Oliver ventured seed stage project incubation and digital asset management, founding BaseTwo.com, whose portfolio includes PayMachine.io, Apereum.com and BaseTwo.Capital. Oliver previously founded CaribHash and Cryptocurrency Capital Management, respectively the Caribbean’s first industrial cryptocurrency mining and private digital asset investment group. A University of Bristol alumni from the School of Economics, Finance and Management, Oliver is a seasoned crypto investor.
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Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon Alternative

Source From https://news.bitcoin.com/bitbacker-io-aims-to-offer-a-cryptocurrency-powered-patreon-alternative/

Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon Alternative

Since Patreon began censoring members and participated in deplatforming, many of its users have been seeking alternatives. One option is the cryptocurrency-infused Bitbacker.io, a Patreon-like application that strongly advocates freedom of speech and censorship-resistant money.

Also Read: Many Self-Proclaimed Bitcoin Inventors and Satoshi Clues Were Debunked in 2018   

Bitbacker.io: A Patreon Alternative That’s Powered by Cryptocurrencies

Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon AlternativeOver the past 12 months, censorship and deplatforming have become rampant, with abuse across major social media platforms, donation pages, and web forums. This has been particularly true of Patreon, a web portal that provides people with business tools and subscription service opportunities. Many well known crypto luminaries, developers, nonprofits, and Youtubers use Patreon to bolster their products and business models. But Patreon has been accused of purging ‘right-wing’ figures, atheists and religious podcasters, creators like Sargon, and other individuals such as former Rebel Media personality Lauren Southern. Bitbacker.io, like the BTC-powered Tallycoin, aims to deliver a solution to the censorship problem by providing “a crypto-fuelled Patreon alternative.”

Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon Alternative
The Bitbacker.io profile page after registering.

Right now, the platform supports BCH, BTC, and Smartcash, while providing a slew of the same features Patreon supplies. For instance, Bitbacker offers a powerchat service and interactive streaming. Visitors can pledge recurring crypto donations to content providers and gain access to exclusive members-only feeds. Additionally, patrons of Bitbacker can donate anonymously to their favorite creator’s page. Bitbacker’s creators say that fiat-based platforms can take upwards of 10-30 percent from content creators’ donations but because they use digital assets like BCH and BTC, the startup is able to charge close to 1 percent.

Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon Alternative

‘Patreon is Expensive and Funds Regulatory Compliance’

Signing up for Bitbacker is easy as all it takes is a strong password and email address in order to customize your profile. Immediately after joining, the platform reminds you to tether a bitcoin address to your profile in order to receive donations for content. Bitbacker explains on its website that it was designed to help crypto novices and the team opine that they hope the platform can be “a gateway into cryptocurrencies.” There’s a feed people can explore which shows all of Bitbacker’s content creators and also a general chat feed.

Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon Alternative

Speaking with news.Bitcoin.com, the Bitbacker founder explained that he created the platform to provide a cheap crypto-based answer to donation sites like Patreon and Youtube’s Superchat.

“There is and has always been a huge ‘tipping culture’ in the crypto community,” the founder of Bitbacker noted. “However, despite the enthusiastic willingness of the community, many creators and builders still resort to using fiat-centered services like Patreon to support their work.”

Naomi Brockwell, for example, runs a crypto-focused show, but receives the overwhelming amount of her support through fiat sources like Patreon. This is embarrassingly true among crypto’s most prominent members: Andreas Antonopoulos, whose Youtube channel is practically an advertisement for Patreon.

The creator further emphasized that Patreon is “expensive” and takes 10 percent of the donations. He explains that half of those funds go to outsourcing the regulatory compliance of being a money transmitter to an external payment processor. “Youtube takes an even larger 30 percent of the Superchats,” Bitbacker’s creator detailed. “Our organization only takes 1 percent and we do this by leveraging the ability of cryptocurrencies to handle all transactions in the client’s browser — Bitbacker never touches a user’s private key and this provides security against hacks and avoids the large costs of regulatory compliance.”

Exploring the site’s content shows a wide variety of vloggers, authors, and other types of content creators. At the moment there is a decent portion of libertarians and cryptocurrency enthusiasts using the platform but the site seems to be gaining a wider audience. Alongside this, the cryptocurrency show host Naomi Brockwell is also using the Bitbacker platform.

What do you think about Bitbacker.io? Let us know what you think about this platform in the comments section below.  

Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com and the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. This editorial is for informational purposes only.

Images via Bitbacker.io, Shutterstock, Twitter, and Pixabay.

Have you seen our widget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool, and you can customize by size and color. The widgets include price-only, price and graph, price and news, and forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power.

The post Bitbacker.io Aims to Offer a Cryptocurrency-Powered Patreon Alternative appeared first on Bitcoin News.

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There May Be (Some) Tax Relief Options if You Sold Your Bitcoin at a Loss

Source From https://bitcoinmagazine.com/articles/there-may-be-some-tax-relief-options-if-you-sold-your-bitcoin-loss/

There May Be (Some) Tax Relief Options if You Sold Your Bitcoin at a Loss

For investors whose first time investing in bitcoin was in 2018 or after late 2017, there is a high likelihood that they have incurred substantial losses for the fiscal year of 2018 if they haven’t sold yet. On December 17, 2017, bitcoin hit an all-time high at over $19,000. Thereafter, it has fallen over 80 percent and now hovers at around $4,000 at the time of writing. While losing money is never the end goal, there are certain measures investors can take in order to minimize their taxable income by utilizing their capital losses incurred from bitcoin during the current year and going forward.

Before diving into what measures can be taken, it is first necessary to address how the regulatory bodies who set these precedences view bitcoin and similar assets. Although this piece is centered on the U.S. regulatory requirements applied to bitcoin, it is worth noting that many other countries have similar regulations internationally.

Bitcoin Is Property

According to the Internal Revenue Service (IRS), bitcoin is considered personal property. As such, any tax laws applicable to the sale of a house or car, or more similarly, a security, will also apply to the digital currency.

Specifically, the IRS refers to taxes levied on the sale of an asset as capital gains tax, for which there are two types. Long-term capital gains tax applies to profits on assets held over a year, while short-term capital gains taxes apply to assets held for less than a year. Short-term capital gains are taxed at the same rate as an individual’s ordinary income tax rate, which in 2018 was somewhere between 10 percent and 37 percent, depending on your level of income. On the other hand, in 2018, the long-term capital gains tax rates are either 0 percent, 15 percent or 20 percent. The applicable rate used for the calculation is dependent on the level of income.

However, in this article we are discussing the opposite of gains, as there are probably very few who profited in 2018’s bear market. Capital gains tax rates are relevant to taxing profits but not losses. The good news is the IRS allows individuals to lower their taxable income by applying these losses.

If You Sold Your Bitcoin at a Loss

Plenty of people bought bitcoin during the bull run last year. Some “bought the dip” at various points on the way back down, only to see the price slide even lower. And many discouraged investors sold their BTC at a loss along the way. For those short-term investors, there is the opportunity to claim back some of those losses.

Similarly, if an investor bought bitcoin any time between late September (the last time prices were this low) and December of 2017, it is likely they have losses for 2018 that can be used to lower their taxable income if they choose to sell now. This would lower the amount of taxes they will owe from the given year, as long as the asset isn’t bought back within 30 days (i.e. wash sale).

According to the IRS, the maximum amount by which an individual can offset their taxable income for a single year is $3,000. But, if an investor lost more than $3,000, the remaining losses can be carried over to following years up to $3,000 per year.

As an example, if an investor bought 1 BTC in late December at $17,000 and sold it at $4,000 today, they would recognize a loss of $13,000. The investor, who is assumed to have regular taxable income, can reduce their 2018 taxable income by a maximum of $3,000. The remaining unused portion of the capital loss in this situation is $10,000. The IRS allows $3,000 of that leftover $10,000 to be carried over into the next year to offset any capital gains that may be recognized at the end of 2019.

The Case for Hodling

While selling bitcoin at a loss could reduce taxable income in the short term, many proponents of bitcoin would be quick to point out that the case for holding onto the digital asset is much stronger than selling for such a marginal and temporary opportunity to save a few dollars in taxes.

There are many who believe that bitcoin will eventually become a store of value, or sound money, and that the best days of bitcoin’s price are yet to come.

However, it is unpredictable when, or even if, bitcoin will accomplish this feat. Because it is impossible to predict the short-term price movement of bitcoin, it could be argued that the case for holding for a very long time (commonly referred to as HODLing) points toward a much higher future price of bitcoin that would make selling today, for a relatively small, offsettable loss, a much greater loss in years to come.

This article is for informational purposes only and does not constitute tax advice. As always, contact a tax professional to be sure that you are acting in compliance with your local tax laws.

This article originally appeared on Bitcoin Magazine.

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