Hi bitvoyager, if you are a member of a team, can you clarify, if the work is beein made in all directions, when approximately can we see some result of that work? App Demo, video, something to have proof that the project worth money invested into it. Situation in Chinese for now is unacceptable, i hope government will change their decision regarding cryptocurrencies.

Due to a large number of new projects, it`s hard for now to be listed on a good exchange. Project managers constantly writing letters adressed to exchange administrators, but exchanges makes their own decisions. Look at PPT capitalization and current trading activity, investors definetely prefer just hold tokens, they believe into the project idea.

After all, according to the three largest Chinese bitcoin exchanges OKCoin, Huobi and OKCoin themselves, China-based cryptocurrency trading platforms are not being banned by local financial regulators.

Earlier today, on September 9, state-owned financial news publication Caixin reported that the  Chinese government is planning on shutting down bitcoin exchanges within its local market. Bitcoin expert and Blockstream Chief Strategy Officer Samson Mow clarified that Caixin failed to provide any relevant sources in regard to its report and that it is likely not true. However, many analysts suggested the possibility of Caixin obtaining insider knowledge from Chinese financial regulators, considering its connections to the government.

Whether the report originated from an insider source or was simply not a factual report, OKCoin, Huobi and BTCC denied receiving directives or requests of any sort from PBoC and local financial regulators. More to that, in an announcement published in online bitcoin communities and Chinese social media platforms, OKCoin, Huobi and BTCC reassured their users that they have always successfully complied with the government’s requests and policies regarding bitcoin and cryptocurrencies.

A statement from OKCoin translated by CnLedger read:


In essence, the three largest bitcoin exchanges stated that the government has clarified on the legality  of bitcoin in the beginning of 2017 and as a result, bitcoin exchanges should and will not be shut down by local regulators. Furthermore, OKCoin emphasized that the company along with other trading platforms have strictly complied with the requests from the government.

Initially, upon the release of Caixin’s report, bitcoin price plunged to $4,075 within hours. Almost immediately after the statements of the three bitcoin exchanges were published, bitcoin price recovered swiftly to $4,310 in a single day.

Over the past few days, bitcoin has demonstrated strong resilience towards the Chinese market and the government’s ban on initial coin offerings (ICOs). Even after the Chinese government’s declaration of ICOs as an illegal fundraising method and bitcoin price dropped by $500, it recovered to $4,550 within a 24-hour period.

But, as Mow explained, ban on bitcoin and other cryptocurrencies by the Chinese government is having less impact on the global ecosystem than it did a few years ago. Mow went as far to explain that if China does ban bitcoin and its local exchanges, it will not work on bitcoin and it will continue to sustain its upward trend.

said Mow.

https://www.cryptocoinsnews.com/bitcoin-price-recovers-major-drop-chinese-exchanges-not-banned/

Auckland University Professor, Alex Sims, has implored the New Zealand government to develop bitcoin regulations. Sims argues that New Zealand has fallen behind comparable developed nations such as Australia in failing to develop a clear regulatory apparatus for companies that handle bitcoin and other cryptocurrencies.

Alex Sims Argues That New Zealand Has “Dropped the Ball” With Regards to Cryptocurrency Regulations

Head of Auckland University’s Commercial Law Department, Associate Professor Alex Sims, has urged the New Zealand government to legitimate bitcoin and other cryptocurrencies through developing a permissive regulatory apparatus. Sims argued that legitimating cryptocurrencies is imperative in order for the government to lay the groundwork required in order to facilitate the application of blockchain technology in a range of economic sectors. “The technological advances are compelling, which is extraordinary from something that only came up under 10 years ago,” Sims told Interest.co.nz.

Sims argues that New Zealand has “dropped the ball” with regards to cryptocurrency regulations, and that the NZ government should follow the example set by neighboring Australia. “You can use digital currencies – there is no law against it. But in practice, businesses aren’t able to accept digital currencies, because if they do, they get their bank accounts closed down… We’re behind, but we can catch up. We can follow what Australia is doing. And some government departments in New Zealand are looking very… closely at what Australia is doing.”

Last week, Australia’s Justice Minister revealed plans to amend its Anti-Money Laundering and Counter-Terrorism Financing Act to bring cryptocurrency exchange providers under the purview of its financial authorities, following the repealing of Australia’s double-taxation on bitcoin, and subsequent legalization of bitcoin as a means of payment.

Sims Has Urged New Zealand’s Financial Sector to Adopt Blockchain Technology

Alex Sims rejects concerns pertaining to the adoption of bitcoin and cryptocurrencies by criminal organizations. “What is ironic is that cryptocurrencies – most of them – are actually far more traceable than cash. So [with] cash, if you get the money, you don’t know where it’s come from. Whereas with cryptocurrencies, you can look back, look at all the transactions, and find out exactly where it is… Some people have been saying you’d be stupid to buy drugs or anything illegal with bitcoin, because you can be traced.”

Sims concedes that New Zealand’s legacy banking system may perceive bitcoin and cryptocurrencies as an existential threat, but argues that mainstream financial institutions should work with blockchain technology rather than against it. “Depending how it’s set up, it could actually cut the retail banks out. So this is a reason why the retail banks should be working with people to actually get a bit of the action.”

https://news.bitcoin.com/professor-urges-new-zealand-government-to-develop-bitcoin-regulations/

Elvira Nabiullina, Russia's central bank governor, comes out against crypto-currency use in Russia.

A lot can happen in month. Russian institutions went from preparing the Moscow Stock Exchange for the legal trading in crypto-currencies like bitcoin and ether, the two most popular ones used in Russia, to coming a hair away from following in China's footsteps and banning initial coin offerings (ICO), a crypto-currency funding mechanisms for new tech companies.

"The use of crypto-currency as a surrogate for the ruble in trading in goods and services, in our opinion, has a risk of undermining the circulation of money," central banker Elvira Nabiullina told Russian newswire Tass on Friday. "We will not allow the use of crypto-currency as a surrogate money," she said without mentioning ICOs in particular. One can only speculate that those crowdfunding platforms are on her radar.

Nabiullina is arguably one of the most powerful women in Russia. She has Vladimir Putin's ear on all things economic and financial. Putin defers to her on such matters.

This summer, Putin met with Ethereum developer and CEO Vitalik Buterin to discuss developments in so-called blockchain technologies, the tech platforms that provide the backbone to digital money. Buterin later told a local newspaper in Tatarstan that he felt Putin was opening to these new technologies as a matter of Russian national tech strategy.  "Many people at different levels of the Russian government are open to crypto-currencies. I think my meeting with Putin helped him see things clearer," Buterin was quoted as saying in Tatarstan's online daily Realnoe Vremya.

This is the second time this week that the Russian Central Bank has come out against crypto-currencies.

"Crypto-currencies are issued by an unlimited circle of anonymous entities. Due to the anonymous nature of the issuance of crypto-currency, citizens and legal entities can be involved in illegal activities, including legalization (laundering) of proceeds from crime and financing of terrorism," the Russian central bank said in a statement issued on September 4. "Given the high risks of circulation and use of crypto-currency, the Bank of Russia considers it premature to admit crypto-currencies, as well as any financial instruments nominated or associated with crypto-currencies, into circulation and used at organized trades such as clearing and settlement infrastructure within the territory of the Russian Federation."

Read more: https://www.forbes.com/sites/kenrapoza/2017/09/08/russia-faces-internal-battle-over-bitcoin/#53e97d76207e

Two members of the US House of Representatives have filed a bill seeking to create a tax exemption for purchases made with cryptocurrencies.

Back in 2014, the Internal Revenue Service declared that it would consider bitcoin (and other cryptocurrencies) as a kind of property for tax purposes. Any profits made when selling or exchanging a cryptocurrency triggers a capital gains requirement. Yet due to the wording of the IRS decision, that covers any transaction involving bitcoin, including an oft-mentioned purchase of a cup of coffee – essentially meaning that if you bought some bitcoin at $1, and spent it on a $2 cup of coffee, you would owe tax on the difference.

Reps. Jared Polis and David Schweikert, who co-lead the Congressional Blockchain Caucus, are hoping to alleviate some of the issues resulting from that ruling with the Cryptocurrency Tax Fairness Act.

Unveiled today, the measure, if passed, would create a de minimis exemption for cryptocurrency payments below $600 after December 31 of this year. Put more simply, transactions involving a cryptocurrency below that threshold wouldn't trigger a capital gains liability.

As the text of the bill states:

    
In an interview with CoinDesk, Jerry Brito, executive director of the DC-based nonprofit Coin Center – which helped advocate for and organize the bill – compared the move to one taken previously by Congress to create an exemption for purchases made using foreign currency.

"What we have done with this bill is do something very similar, to create a de minimis exemption for small purchases."

As for the prospects of the bill in a Congress beset by Republican infighting and looming fights over the federal government's funding and ability to borrow, Brito struck a cautiously optimistic tone, pointing to the ongoing effort to reform the US tax system as aligning with the goals of the new bill.

"This should be unobjectionable to members of the Congress," he said.

Read more:
https://www.coindesk.com/us-lawmakers-seek-tax-exemption-bitcoin-transactions-600/

Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.

GMO’s Venture into Mining Business

GMO Internet Inc, announced on Thursday the launch of a bitcoin mining business, “utilizing the next-generation 7nm semiconductor chip.” The company wrote:

        
Citing plentiful renewable energy in Northern Europe, the company says “we can operate facilities that reduce costs by procuring clean and cheap electricity.” The company plans to start mining with 50,000 chips to deliver a total hashpower of 500 petahashs per second (PH/s). This amount of hashpower would rank among the top-ten bitcoin mining pools today.

Headquartered in Tokyo, GMO offers a comprehensive range of internet services worldwide. Its internet infrastructure business has 8.47 million customers and ranks number one in Japan. The company is listed on the Tokyo Stock Exchange.

GMO Group consists of 129 entities as of the end of July this year. One of its subsidiaries is GMO Coin Inc, who offers digital currency trading and digital currency fx trading. It was launched on May 31, and then changed its name on August 9 from Z.com Coin Co., Ltd. The company wrote:

        
Read more:
https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/

Credit cards are time-tested means of payment. But they are completely under government control. Even when you convert your btc into dollars and transfer them to your debit card, Big Brother knows about this transaction and may come for his taxes. I`m afraid about it, i do not respect current bank system, that`s why i really try not to take loans, and living on what i can earn.

Maybe it would be better if price come and contained at near 4500$ level, at least for a month. Recently we heard a lot of news, many of them are not very pleasant for investors, such as ICO ban in China, bitcoin need stability now, like a gold, to assure  crypto contributor that their money are in safe and makes profit.

I don`t see a problem to buy any real estate assets using dollars. But maybe it`s more convenient and cheaper for clients to transfer bitcoin directly, without conversion costs. It`s interesting, what tax rate will be applied in case of btc paymant.

Wow, was a heart-warming story. That situation definitely shows us that banking payment system already become hopelessly outdated and risks becoming totally irrelevant. Business and consumers nowadays require fast, cheap transactions, which would not be dependent from human working hours.

Those russians are so interesting people. Yesterday their politicians said "we will support bitcoin, be have plenty of cheap electricity", today they state "we do not wan`t this western blsht, we may create something ourselves". Bureaucracy, old and hulking.

Right, even if bitcoin is a bubble, it should not burst sharply with a loss of it`s value to zero. This asset has enormous potential for growth in future, more and more people will pour money in it. Besides, we see how smart and tricky are big whales, they decrease the price on 15 percent, to encourage and let new people jump in to crypto asset.

In spite of the negative news surrounding cryptocurrencies this week, the push for new and innovative uses for Blockchain technology continues. A recent patent application by Xerox indicates a desire to create a Blockchain-based timestamp protocol for data such as copies or pictures. The timestamp would be irrevocable, meaning that the data could then be admissible in courts as evidence.

The application contains detailed analysis of how Proof of Existence can functionally create the appropriate chain for stamping each data point. The application says:

    “The proof of existence is a specific example of the proof of existence service. In this example, the proof of existence service can be understood as a group of miner nodes who add blocks to [Bitcoin’s Blockchain]. The proof of existence is an example only. Another service that uses the [Blockchain] of the Bitcoin or another service that uses the [Blockchain] other than the Bitcoin may be used as the proof of existence service.”

Xerox had earlier filed a separate pair of Blockchain-related patents as well. The announcement follows on the heels of other major institutions filing patents for Blockchain technology applications. Bank of America, in fact, recently filed nine unique Blockchain technology patent applications relating to payment methodology, bringing their total to over thirty.

https://cointelegraph.com/news/xerox-applies-for-blockchain-timestamp-patent

The same week China banned ICOs outright, Hong Kong regulators have released a “cautionary statement” to prospective investors.

Hong Kong Stays Softer On ICOs

The Chinese autonomous territory, despite the increasing influence from Beijing on its internal affairs, has so far opted to follow the example set by more lenient jurisdictions regarding cryptocurrency regulation.

The statement, which was publicly published Tuesday on the Hong Kong Securities and Futures Commission (SFC) website, reiterates the message that ICO tokens could constitute securities under local law.

The regulator explains:

    "This statement serves to explain that, depending on the facts and circumstances of an ICO, digital tokens that are offered or sold may be ‘securities’ as defined in the Securities and Futures Ordinance (SFO), and subject to the securities laws of Hong Kong."

Read more: http://bitcoinist.com/dont-dream-icover-hong-kong-maintains-leeway-china-bans/

This week two business luminaries, Baroness Michelle Mone and Douglas Barrowman, have announced the sale of 2.4 million square feet of Dubai residential property will be sold for bitcoin. The residential 40-storey tower apartments will be the first properties located in Dubai’s Science Park priced and sold for a cryptocurrency settlement.

The First Dubai Development Properties Priced in Bitcoin

Through a partnership with Knox Group and the bitcoin payment processor Bitpay, a selection of 1,133 studio, one- and two-bedroom apartments, ready for completion by September 2019 will be sold for bitcoin. The Aston Development properties offer unique floor-to-ceiling windows with views of the  Dubai Hills and city’s skyline. Further the project was developed by the well-known architects John R Harris & Partners alongside interior design by Michelle Mone Interiors. According to Knox Group, the development will feature three floors of cafes, restaurants, a supermarket, and boutiques.

Currently, studio properties will have a starting price of 33 BTC, and the real estate agency says early investors will get additional benefits. Additionally, packages of interior design services and furniture can also be purchased using bitcoin.

“I am thrilled to be launching a project of this scale as a step in the property development business,” explains Baroness Michelle Mone of Mayfair OBE. “This is also a natural progression from the launch of Michelle Mone Interiors – bringing together my two passions in business for the first time; design and property.”            

        "Doug and I are both trailblazers in our own business sectors, so of course, we wanted this to be different, unique and exciting — not just in the world of property, but also tech. This is why it is the first-ever development to be priced in bitcoin."

Read more: https://news.bitcoin.com/luxury-dubai-high-rise-apartments-will-be-sold-for-bitcoin/

Dear Sir,  don`t worry, be happy). It is already proved, that most of educated human beings still wanted to do something even after getting passive income. Simple example: i would like to become a doctor, but i don`t have such opportunity, because i must pay my rent, go to boring job which takes my time away. Imagine, how much new talents in all areas we could find, if people would just have time and other resources to seek itself.

A brand new technical conference is hitting the Bitcoin space this week.

Loosely inspired by the well-known Scaling Bitcoin workshops, the French Bitcoin community will host the Breaking Bitcoin conference in Paris, on September 9 and 10. The conference has an explicit focus on security and is targeted at an audience with an understanding of the technical aspects of Bitcoin.

“All of the talks and panels will have different angles that all tie in to this theme,” co-organizer Elizabeth Stark told Bitcoin Magazine.

The Breaking Bitcoin conference was born out of discussions on the CryptoFR Slack, a discussion platform for the growing developer community in France. A group of volunteers, including French Bitcoin community member Pierre Lorcery, Chainsmiths managing director Kevin Loaec and Ledger CTO Nicolas Bacca, as well as California-based Lightning Labs CEO Elizabeth Stark, decided to organize the technical event.

“The idea was simple,” said Stark, who has previously been involved with organizing Scaling Bitcoin workshops. “We made a weekend out of the types of talks we see at developer meetups around the world and invited some of our favorite speakers to Paris.”

Breaking Bitcoin’s focus on Bitcoin’s security is unique in the space. Where Scaling Bitcoin mostly focuses on how to improve the technology in a number of ways, including scalability, fungibility, privacy, and more, Breaking Bitcoin instead highlights all the different ways in which Bitcoin can be attacked and how these attacks can be defended against.

“Talks will range from social and political attack vectors, to spam attacks, to layer 2 security, to hardware attacks, to secure and usable applications,” Stark said. “This is, as far as I know, the first ever technical conference focused solely on Bitcoin security. The goal of the event is to have a true community-driven, cypherpunk conference, and our hope is that we've delivered on this.”

Speakers and panelists in Paris include Bitcoin Core contributors Eric Lombrozo and Peter Todd, Libbitcoin developers Amir Taaki and Eric Voskuil, Lightning Network developers Dr. Christian Decker and Laolu Osuntokun, BitGo engineer Jameson Lopp, Electrum developer Thomas Voegtlin, Venture Capitalist Alyse Killeen, and many more.

Tickets start at €100 (~$120), with room for up to 300 attendees.

https://bitcoinmagazine.com/articles/breaking-bitcoin-paris-set-host-new-technical-bitcoin-conference/

The stock price of chipmaker Nvidia and the value of Bitcoin continue to skyrocket almost in sync. These two technology disruptors, in their respective fields, are propelling amazing technological and economic changes. Their significance is being clearly reflected in the financial markets, as the values of both NVDA and BTC reach all-time highs.

Bitcoin and Nvidia’s Impressive Price Trajectories

Nvidia products and Bitcoin seem to be interrelated. Both are key elements that are powering the world’s transition to the 4th Industrial Revolution.

“Technology is changing the nature of relationships between industries and creating a new range of challenges. For example, technology is now interconnected with retail, healthcare, and banking,” according to a PWC report.

In this connection, then, is there some degree of correlation between the price trajectories of Nvidia stock and Bitcoin?

Nvidia stock is hovering at its highest-ever stock value. As of writing, a share of Nvidia is over US$170, up from less than US$20 in 2014. As shown in the chart below, Nvidia’s stock price climbed significantly when Bitcoin miners started to order graphics cards specifically tailored for cryptocurrency mining, causing Nvidia shares to jump in value.


Figure 1 – NVDA Price – Courtesy of Google Finance

No less impressive is Bitcoin’s price trajectory, which has been consistently and spectacularly ascending for the last eight months. And, on 1 September, Bitcoin’s value reached yet another all-time high, piercing the US$5,000 mark in the Asian markets.


Figure 2 Bitcoin Price- Courtesy of Google Financ

The paths of Silicon Valley’s Nvidia and Bitcoin intersected when Nvidia launched graphic cards specifically dedicated to cryptocurrency mining.

ASUS, the Taiwanese computer hardware and electronics consumer company announced launching the Nvidia based technology, such as ASUS Mining P106, recently. The advertisement reads, “ASUS Mining P106 is designed for coin mining with high-efficiency components – delivering maximum hash-rate production at minimum cost.”

Specifically, the demand for cryptocurrency mining products has caused Nvidia sales to rise 52%, representing $1.2 billion, Fortune reported on August 10, 2017.

Another chipmaker benefitting from the cryptocurrencies craze is Advanced Micro Devices Inc. (AMD).

The demand for mining cryptocurrencies has been so extraordinary that some Wall Street experts have started to fear that Nvidia’s price is now becoming too dependent on Bitcoin.

Read more: https://news.bitcoin.com/bitcoin-nvidia-price-soar-sync/

Russian Official Claims Central Bank Has Approved First Cryptocurrency Exchange

According to a recent interview with the Deputy Prime Minister of Russia, Yury Trutnev, Russia’s central bank has approved the country’s first cryptocurrency exchange, called “Voskhod.”

Russian Bureaucrat Claims the Central Bank Has Approved a Cryptocurrency Exchange

Russia seems to be getting extremely close to legalizing and regulating cryptocurrencies within the region. Last week news.Bitcoin.com reported on the Russian Deputy Finance Minister, Alexei Moiseev’s proposed bitcoin regulation, and the possibility of digital assets being listed on Moscow’s stock exchange. Now the country’s Deputy Prime Minister, Yury Trutnev claims the Russian Federation Central Bank has approved the first cryptocurrency trading platform for private investors.     

“We are considering the possibility of creating a platform for trading with cryptocurrencies. The central bank has supported us,” explains Trutnev’s interview and further details;   

        "The system “Voskhod” was the first in the country to receive the right to work with cryptocurrencies."

The Russian Energy Sector and Bitcoin Mining

In Trutnev’s latest interview, the Russian Deputy Prime Minister also spoke about bitcoin mining and the possibility of partnerships with the country’s energy sector. This follows the recent news of two of the nation’s energy companies, Evrosibenergo and Gazprom, possibly partnering with local bitcoin miners. Trutnev details there is an abundance of electricity in particular regions within the nation that could help the mining industry a great deal. Trutnev explains currently, energy companies have a hard time distributing the excess electricity.

“There are regions where there is an overabundance of energy — both here and in Siberia,” Trutnev details.

        "There is no way to redistribute this surplus to other regions, so you can create companies that will thus dispose of unconnected volumes of electricity, and people will be able to earn on this."

With the latest developments in the country, bitcoin just might be a legal form of payment in Russia after all the years of politicians being against cryptocurrencies. Senior government officials are clearly drawing up some sort of framework for the technology; it’s just a matter of when they decide to announce some formal legislation officially.

What do you think about the Russian central bank approving a cryptocurrency trading platform for private investors? Let us know in the comments below.

Read more: https://news.bitcoin.com/russian-official-claims-central-bank-has-approved-first-cryptocurrency-exchange/