Friday, March 31, 2017

Despite Reports, India's Bitcoin Policy Hasn’t Changed

Media sources in India detailed for the current week that the legislature had considered bitcoin illicit, drumming up a buzz that seemed, by all accounts, to be exaggerated. 

Daily papers, for example, The Economic Times of India announced that, as indicated by an announcement from Minister of State for Finance Arjun Ram Meghwal, utilization of the computerized cash was "unlawful" and presented clients to potential infringement of hostile to illegal tax avoidance rules. 

At first welcomed as a move in approach for India, which is home to a scope of organizations taking a shot at both bitcoin and blockchain-related tasks, the announcement has since come to be viewed as just an emphasis of a prior position taken by authorities in the nation. 

To be sure, the announcement was almost indistinguishable to one issued by the Reserve Bank of India in late 2013, which was to a great extent a notice about value instability and robbery dangers. 

"The nonattendance of data of counterparties in such shared mysterious/pseudonymous frameworks could subject the clients to inadvertent ruptures of hostile to illegal tax avoidance and battling the financing of fear mongering (AML/CFT) laws," the national bank said at the time. 

A distributed duplicate of the question postured to the Indian government confirms these likenesses: 

"The nonattendance of counter gatherings in use of [virtual currencies] including bitcoins, for unlawful and illicit exercises in unknown/pseudonymous frameworks could subject the clients to inadvertent breaks of hostile to tax evasion and battling the financing of fear based oppression (AML/CFT) laws." 

Despite its translation, the debate started by the misjudged explanation has prompted requires the Indian government to obviously diagram its position on the lawfulness of bitcoin. 

A request of made on Change.org has pulled in a little more than 7,600 marks. A moment one, comparable in extension, has drawn more than 1,110 supporters.

Japan's Bitcoin Law Goes Into Effect Tomorrow

Japan is set to start perceiving bitcoin as a lawful strategy for installment beginning tomorrow. 

The nation's lawmaking body passed a law, taking after months of open deliberation, that brought bitcoin trades under hostile to tax evasion/know-your-client rules, while likewise ordering bitcoin as a sort of prepaid installment instrument. 

It's a civil argument that started in the wake of the fall of Mt Gox, the now-outdated bitcoin trade that covered following quite a while of developing confusions and, at last, disclosures of indebtedness and claimed misrepresentation. 

As indicated by Japan's Financial Services Agency, that law becomes effective on first April, setting up capital prerequisites for trades and also cybersecurity and operational stipulations. Moreover, those trades will likewise be required to lead worker preparing projects and submit to yearly reviews. 

However there might be more work to come here. 

For instance, Nomura Research Institute's Yasutake Okano demonstrated in a May 2016 report that other Japanese laws may need to change to represent the tech, including the Banking Act and Financial Instruments and Exchange Act. 

Reports demonstrate that different gatherings in Japan are moving to fitting some of those crevices also. 

As indicated by a report from Nikkei, the Accounting Standards Board of Japan chose not long ago to start creating guidelines for advanced monetary forms like bitcoin. Its work mirrors different endeavors being attempted somewhere else, including Australia, which started pushing for such norms toward the end of last year.

Monday, March 27, 2017

Smart Bitcoin Strategies To Accumulate Gold Bullion

I have caught wind of bitcoin two or three years in 2013 and never anticipated that it would develop into a solid cryptocurrency it is today. At the season of composing this article, it is exchanging available at an esteem higher than gold. This opened a window to numerous potential outcomes for me, as I'm as of now inside the market to amass this computerized money and gold bullion once a day. 

With my experience, I picked up learning and created techniques to utilize this cryptocurrency and manufacture a riches wheel of gaining gold consistently utilizing its influence. 

The accompanying focuses are strategies I use to amass bitcoin and gold bullion. 

Discover an organization that offers gold bullion 

Open an online bitcoin wallet 

Begin mining bitcoin on the web or disconnected 

Buy gold bullion with bitcoin 

The above are the essential strides to fulfill the procedure and it requires particular techniques to make it effective. As I would see it this is the best bitcoin methodology to collect gold and get it conveyed to your doorstep each and every month. 

Discover an organization that offers gold bullion 

There are numerous online organizations on the web that offers gold bullion, yet there are not very many that offers motivating force programs once you turn into their customer. You have to search for an organization that offers a great deal more than just offering gold bullion. This organization needs to offer quality items, for example, offering gold bullion in little sizes of 1 gram, 2.5 gram and 5 gram. The gold itself must be 24 karat gold, which is the most noteworthy quality you get. The motivator programs needs to permit you to win commissions once you allude individuals to the organization. 

Open an online bitcoin wallet 

You will require a place to store your bitcoin once you are prepared to begin inside the cryptocurrency showcase. There are numerous online bitcoin wallets accessible to the general population for nothing out of pocket. Search for an organization that offers a wallet to store bitcoin and a disconnected vault to ensure it. There are numerous programmers attempting to break into the wallets of online clients and take all their bitcoin. In the event that you store your bitcoin disconnected, you will never be a casualty of online programmers. 

Begin mining bitcoin on the web or disconnected 

There are two fundamental approaches to get bitcoin. Mine bitcoin on the web or disconnected. To mine bitcoin online is simple and significantly less complex than disconnected strategies. I for one utilize both techniques to test the benefit for each. By joining an online bitcoin mining ranch would be an awesome approach to begin. 

You should be exceptionally mindful on this choice also, on the grounds that there are a large number of tricksters guaranteeing to have bitcoin cultivate, however in certainty does not. These folks make Ponzi plots and will just take from you as much as they can. There are additionally trusted and genuine organizations that has bitcoin ranches working each and every day that I for one utilize. 

You can likewise mine bitcoin disconnected by obtaining a bitcoin digger, which is PC equipment that you set up at your home. This equipment then gets associated with the Internet and will begin mining bitcoin. This bitcoin will then consequently be sent to your online bitcoin wallet. 

Buy gold bullion with bitcoin 

Since you have bitcoin coming in consistently there are particular ways that should be taken after to buy gold bullion from the organization you picked. You have to connect your bitcoin wallet to a visa card. This card should likewise be offered to you from your bitcoin wallet organization that you picked. Utilize this card to buy gold bullion whenever you have enough bitcoin in your online wallet.

Sunday, March 26, 2017

WEEKLY ANALYSIS: THE TRUMP SAGA CONTINUES, SO DOES ETHEREUM’S SURGE

AssetCurrent ValueWeekly Change
S&P 5002344-1.44%
DAX12064-0.55%
WTI Crude Oil48.10-1.39%
GOLD1243.501.07%
Bitcoin926-13.57%
EUR/USD1.07980.56%


5 THINGS TO WATCH NEXT WEEK

  1. The Dollar: Will the weakness continue?
The US Dollar has been in trouble since the recent Federal Reserve meeting, despite the fact that the central bank raised its benchmark interest rate. The rate hike, in theory, should help the currency, but this time, the bank’s cautious outlook, together with the preceding rally in the Dollar, the reaction was the exact opposite. A classic “buy the rumor sell the news” situation.
As the Dollar has been pushing higher against most of the major currencies since the election, there is still more room for correction in the reserve currency.
EUR/USD, Daily Chart Analysis
  1. The US GDP print and the CB consumer confidence Index: The Fed is watching
Arguably the two most important economic releases of the week could have profound effects on financial markets following the latest Fed meeting, as the rate hike schedule of the bank remains a mystery.
  1. Ethereum: New highs ahead?
Ethereum has been the star of the recent period, as it kept on delivering new highs on almost a daily basis. Although the cryptocurrency might be getting overheated, the next week could hold more fireworks for traders. The recent break-out that we correctly anticipated carried Ethereum above the resistance zone that held the currency back all week.
Ethereum on the rise, Daily Chart
  1. Oil: An industry in turmoil
Oil producing countries and companies are spooked once again by the movements of crude oil, as a 3-month long consolidation concluded with a bearish break-down two weeks ago. As US shale production is on the rise and the OPEC, especially Saudi Arabia, is cornered by the new market pressures, it’s likely that oil will experience violent moves in the coming days.
  1. Trump: Will there be a healthcare deal?
The media covered the Republican Party’s debate regarding a new healthcare bill that supposed to replace “Obamacare”. The new president was forced to retreat at the end of the week, pulling the bill ahead of a risky vote. It’s hard to imagine that Mr. Trump will not try to reach a deal again in the near future. We expect continued focus on the story, although the real impact of the bill on financial markets is questionable.
In Focus: Cryptocurrencies
 

The performance of the main cryptocurrencies in March
March has been a very active month for cryptocurrencies so far, and while Bitcoin had a highly volatile and mixed period, some of the other majors gained significant ground. Ethereum and Dash surged higher more or less in tandem, bagging close to 200% in just three weeks. Monero is also on the rise with a commendable 60% gain.
The recent week was Ethereum’s without a doubt, as Dash and Monero remained below their previous highs and Bitcoin plunged back below 1000 on Friday. Litecoin has been the most stable of the major cryptocurrrencies, although the 8% gain could be interpreted as a positive sign, given the weak performance of Bitcoin.
Monthly trading volumes reflect the price action, as Ethereum has experienced a huge jump in interest and Dash also so significant inflows.
CurrencyWeekly VolumeMonthly Volume
Bitcoin21169325
Ethereum9293796
Dash181919
Monero69319
Litecoin36180

Key Economic Releases of the Week
DayCountryReleaseExpectedPrevious
MondayEUROZONEGerman Ifo Business Climate111.2111
TuesdayUSCB Consumer Confidence113.9114.8
WednesdayUSPending Home Sales (monthly)2.30%-2.80%
WednesdayUSCrude Oil Inventories 5.0 million
ThursdayGERMANYPrelim CPI0.40%0.60%
ThursdayUSFinal GDP2.00%1.90%
ThursdayUSInitial Jobless Claims (weekly)244,000261,000
FridayGERMANYRetail Sales0.70%-0.80%
FridayUKCurrent Account-16.3 bil-25.5 bil
FridayUKFinal GDP (quarterly)0.70%0.70%
FridayCANADAGDP (monthly)0.30%0.30%
FridayUSChicago PMI57.257.4
From : Hacked.com 

Humanitarian Blockchain and its Liberating Technologies for Refugees

Last October, dozens of refugees remained stranded in Calais after authorities announced the closure of Calais’ ‘Jungle’. In a report from the Guardian, over 1,000 refugees remained, including more than 100 children, with many facing the prospect of having nowhere safe to sleep.
Yet, with French and U.K. officials accusing each other of not doing more to sort the situation out, the ‘Jungle’ became a poignant representation of Europe’s failure to tackle the migrant crisis.

Humanitarian Blockchain

One organization is stepping forward with blockchain ideas and solutions designed to address some of the barriers that they perceive to be standing in the way of social, political, and economic freedom, not only for refugees but for other disenfranchised populations.
Launched in February 2016 by founder and CEO Julio Alejandro, London-based Humanitarian Blockchain is the world’s first DIY e-governance consultancy project that is attempting to tackle social and global problems using blockchain technology.
Speaking to CCN, Alejandro, a U.S. and U.K. foreign correspondent for Mexican-based newspaper, Excélsior, said:
[Our goal is to] provide financial, communicational, and organizational independence to refugees and the organizations that help them with decentralized, accessible, and non-jurisdictional blockchain technologies.
The organization is attempting to achieve this goal through its four liberating technologies: bitcoin Visa debit cards, Estonia e-residences for high-skilled immigrants, a DAO model for HR NGOs, and non-biometric, reputation-based, digital identities.
Out of the 30 blockchain-for-good use cases Humanitarian Blockchain has mapped, they have identified 30 organizations, mainly startups, that use a combination of these technologies. Furthermore, Alejandro states that costs are reduced by not developing in-house solutions, but by outsourcing actualizations and improvements with cheap implementation.
The cost of the e-residences and a bitcoin Visa debit card is €120 while the cost of implementing a DAO no-managers model and automated Smart Contracts for a small HR NGO is €1,000. Humanitarian Blockchain is planning on using BitNation’s Pangea identity system, which is free, once it’s ready this year.
In consultation with organizations and governments within Europe, Alejandro is examining and promoting the benefits of blockchain technology, analyzing the local ecosystem, and looking at its needs and opportunities for future development.
Last September and October, Students for Liberty asked Alejandro to give lectures and talks in ten countries. In November, he debated on anonymity, untraceability, and decentralization for the European Commission legislation body in Prague before taking his discussion to Tel Aviv and Beirut at the beginning of the year.
By focusing on people that they’ve identified as oppressed, Humanitarian Blockchain aims to serve as contractors and consultants, teaching and implementing pilot projects for social good in complex ecosystems; to match blockchain developers, who might be living in London or New York, with organizations that request their help; and to participate in social competitions that promote humanitarian, social, and political uses of blockchain technology.

Social Experiment

Even though the Calais camp disappeared last October, back in June, Mexican-born Alejandro undertook a social experiment pilot when he went to Calais.
At the end, there were two things that he noticed.
Firstly, posing as a Syrian refugee living in The Jungle, Alejandro found it difficult to pay in a coffee shop with a bitcoin debit card. He said that the issue of having no fixed addressed or job meant that merchants were more likely to ask questions, suspicious of where a refugee may have received the card and how money was put on it for a refugee to use.
He said:
As a brown, heavily bearded, Muslim-looking male, I was denied service and was asked to leave [places of business].
Secondly, they discovered that the inhabitants of the Jungle were often African and Asian economic immigrants hoping to remain anonymous and underground, rather than the highly-publicized refugees from Syria.
He added:
With limited capacities to teach or implement this project in mass scale we decided to re-adapt our strategy into a smaller group: young, anonymous immigrants with risk of radicalization.
As such, the organization identified three types of people that it is aiming to help: political dissidents, victimless crimes, and rehabilitating those who have committed serious crimes, but can’t reinsert into society or the job market, forcing them underground or being radicalized into violent activities.
Alejandro believes that digital identities will help oppressed communities regain their dignity. As they won’t be government sanctioned, he says that reputation-based identities will eliminate violence in case of wrong doing.
He states:
In a post-nation world, if you commit a crime you would get your reputation downgraded. ID and reputation systems are the preventive method towards crime and punitive behavior.
He concludes by adding, that with the use of digital identities, businesses, audiences and stores can ban or limit access for a person into a place, instead of having them sent to prison.
Featured image from Shutterstock.