One of the best-known, longest-lasting applications of Bitcoin has been its use as money by those who are involved in black market activities on the internet. Indeed, many Bitcoin users interacted with the cryptocurrency for the first time when they decided to purchase some ecstasy or weed from one of the many available darknet markets.…
This article was originally published by 8btc and written by Lylian Teng. On October 9, 2019, the China-based cryptocurrency mining giant Bitmain launched its two latest Antminer 17 models to an eager market. On the very same day, another leading ASIC producer, Canaan, also rolled out its next-generation bitcoin miner A11 series. Both new mining…
The U.S. Internal Revenue Service (IRS) has taken a significant step to provide much-needed clarity for crypto users. On October 9, 2019, the tax authority published an announcement of Revenue Ruling 2019-24, which addresses an array of questions concerning tax compliance related to cryptocurrency airdrops and blockchain hard forks. The issue of how to tax…
DropBit, a bitcoin wallet and payment service provided by CoinNinja, allows you to send bitcoin to people who don’t own any. Now, it’s using Lightning Network to beef up its self-stylized role as the Venmo for bitcoin. Revealed exclusively to Bitcoin Magazine ahead of a public announcement, the DropBit app has built out its own…
Like many that came before it, Bitwise’s bitcoin exchange-traded fund (ETF) aspirations have fallen by the wayside. This comes just three days after Bitwise’s Head of Research told CNBC that “We’re closer than we’ve ever been before to getting a bitcoin ETF approved.” The asset management firm filed this bitcoin ETF proposal in January 2019…
While the digital gold narrative around Bitcoin has always existed, in the early days, there was also a heavy focus on payment use cases for the world’s first major cryptocurrency. There was plenty of block space to go around at the time, which meant transactions were practically free and users didn’t have to worry about…
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The bitcoin market is experiencing a strong rally that has us testing the strength of the $8,300 resistance level. So far, the support level at $8,090 is holding and as long as the daily candle doesn’t close below the support level the market is poised for a retest of the $8,500s. If we see a…
In “Meditation XVII,” the poet John Donne famously coined the aphorism “No man is an island.” That may be true, but what about a social network? Gab is pretty damn close. The highly controversial platform has been blacklisted by email services and web servers, its tools have been banned from the Firefox and Chrome browsers…
The Lightning Network continues to grow and funding of Lightning development seems to be growing along with it. ACINQ, the Paris-based development company behind the eclair Lightning implementation, announced today, October 9, 2019, that it has raised $8 million in a series A funding round led by venture capital firm Idinvest Partners, with involvement from…