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Cartoon Corner 20th December 2018: Not That Kind of Mining…

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Cartoon Corner 18th December: Economic Anomaly

Economic Anomaly

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Bitcoin News has officially launched and is now live via its website Bitcoin News introduces to the cryptosphere the very latest and the very best in blockchain and cryptocurrency news stories, while covering the most influential events and opinions in the industry.

As an independent information and news portal, prides itself in being a fresh and unbiased perspective, aiming to appeal to a global audience with objective reporting of Bitcoin developments, and the wider cryptocurrency and blockchain industry.

What matters and why it matters

Bitcoin News operates on a simple policy of blockchain and cryptocurrency advocacy, disseminating awareness to keep the general public abreast with the latest media news, regulatory and economic policies related to the industry, technological developments and general interest stories.

As the young industry continues to gain more prominence, with increased recognition and legitimization, Bitcoin News seeks to address the demand for more objective and nuanced news reporting. It hopes to highlight events and opinions that matter, while analyzing their potential impact on mainstream and institutional sentiment.

Initially focusing on major news and events, Bitcoin News is working to develop the resources necessary for more investigative content it believes is vital to foster community dialogue and democratic opinion.

Acknowledging the increasingly diverse segments of readers, Bitcoin News will also bring more attention to news typically receiving less coverage in mainstream media. Several exclusives already published include human interest stories such as the story of “the man who sold everything for Bitcoin”, while Bitcoin News builds up regional focus pieces such as the Bitcoin News weekly roundups and the exclusive on Bitcoin activists in Argentina.

Balanced viewpoints delivered with integrity

In the face of cryptocurrency and blockchain information proliferation, it can be difficult to navigate between fact and conjecture. Bitcoin News aims to deliver fair and sensible fact-based reporting, doing its best to review and be transparent with all news sources. The content for daily publications are curated by staff who receive continuous formal and professional journalism training, in an effort to keep high levels of reporting standards.

Bitcoin News is supported by veteran media and industry professionals unshackled by blockchain sponsorship and affiliation to ensure freedom from bias and vested interest. It is the culmination of collective vision and know-how, united by the belief that crypto journalism is a public service that should serve the best interests of its readers.

Adding more value will continue to develop more useful features for readers. It already has a Market Capitalization resource for traders to monitor the performance of some 1,400 cryptocurrencies and digital assets, as well as a newly-launched Bitcoin News Radio Show also available on Anchor, Google Podcasts and Spotify.

Readers can also choose to listen to each news story, courtesy of

Bitcoin News is partnered with and

To learn more, visit Bitcoin News at Keep up with the latest news and stories as they are published via Twitter, Telegram or Instagram. Or, subscribe to them via the Bitcoin News RSS feed.

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John McAfee Launching Crypto-Backed Fiat Currency “McAfee Coin”

Tech-tycoon John McAfee is spinning heads after announcing the launch of his own crypto-backed fiat currency aptly called McAfee Coin, which is due for release in 26 days.

The cryptocurrency world often hangs tenaciously on any bullish or controversial statements made by the so-called ‘Crypto Dad’. His endless displays of eccentricity and unconventional attitudes in both personal and business practice has caused him to receive a devout following. Some would even go as far as to call him “an anti-hero of sorts to the worlds cybersecurity, economic, political landscapes”.

No Hoax

This latest serving from McAfee takes all those presumptions that much further, a crypto-backed fiat currency seems almost implausible if not impossible, but according to a Tweet, this is no hoax.

To go along with prior tweet:

— John McAfee (@officialmcafee) May 29, 2018

In an exclusive with Crypto-News India, McAfee went on to explain his crypto-backed fiat currency, some of its features and inner workings.

Firstly, the McAfee Promissory Note will be the first note that is connected to the blockchain by a token or number of tokens; he also claims it to be the first “fiat currency collectors item that is 100% guaranteed as forgery proof”.

The notes can be redeemed for real-world services, and the notes themselves come in seven denominations, with some of the most prominent figures in the crypto industry featured on them.

An interesting feature of the notes is that they are redeemable for a face-to-face meeting with Crypto Dad himself; a 10 denomination note will grant you ten minutes with McAfee, a 20 for twenty minutes and so on. The instructions for meeting are as follows:

  • Show up between one and three, only.
  • Turn in your note and you receive a date, time, and address where you will meet Mr McAfee.
  • The meeting place may be in any part of the world. The note will be archived.
  • Only one set of notes may ever be redeemed by one individual. Maximum time allotted will be 100 minutes per person.

McAfee notes are to be tied to McAfee Redemption Units (MRUs), a digital currency; McAfee explains that each McAfee promissory note is denomination and serial number unique, and each note is tied to one or more cryptocurrency coins called “McAfee Redemption Units.”

These coins are “activated” once the owner of a note converts their McAfee fiat through “mail or other means”, to the MRU Foundation, which is responsible for the physical notes.

The full details of the latest McAfee project can be read here; it is also worth noting that McAfee has released a Declaration of Currency Independence, a profound statement that calls for the accelerated mass-adoption of cryptocurrencies. The website reads:

“We are not declaring Independence from State Controlled Currency — We are declaring Controlled Currencies through fiat have been rendered Obsolete.”

It is almost impossible to predict what McAfee will do next or whether or not his latest ambitious venture will hold ground after its launch. Either way, watch this space.


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US Cryptocurrency Holders Could Owe $25 Billion in Taxes

Tom Lee, former chief equity strategist for JP Morgan Chase, has often provided insights on the cryptocurrency market and Bitcoin; in a recent CNBC interview, he estimated that cryptocurrency holders in the United States owed around USD 25 billion in capital gains taxes.

US tax date impacting market

Lee believes that the present cryptocurrency sell-off is in anticipation of the looming US tax day on 17 April; he also believes that sometime after this date, “market misery” and selling pressure will begin to alleviate, pushing the market back up.

On 23 March, the Internal Revenue Service (IRS) released a notice describing its treatment of cryptocurrency as virtual currency and, therefore, general property taxation principles and laws were applicable. The small reminder from IRS may be partly responsible for the present sell-off which is profoundly impacting the market.

“This is a massive outflow from crypto to USD, and historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value,” Lee added in the CNBC report.

Wheels spinning in the USA

The US is undergoing a shift of attitude toward Bitcoin and cryptocurrency practices overall. Since February, the state of Arizona has been passing realistic and promising bills through the Arizona House of Representatives which would reshape how the state interacts, regulates and utilizes cryptocurrencies as well as initial coin offerings (ICOs).

The HB2603, HB2602, and HB2601 bill package, if finally voted law, would mean that Arizona would be the first state to accept cryptocurrency as payment for taxes. Providing a legal definition for tokens and amending old legislation would protect individuals who run blockchain nodes, which is primarily an issue of energy costs caused by computing power.

There is an oddly positive tone emanating from the US; BitcoinNews recently reported that Jay Clayton, chairman of the US Securities and Exchange Commission (SEC) had begun to change his tone on ICOs. He aptly identified the need for lawmakers and regulators to tackle fraudulent blockchain activities to prevent the legal frameworks from restricting “the capacity of this new security”.

In another turn of events, cryptocurrency firm Coinbase is reportedly “in talks” with SEC in regards to the trading platform becoming a licensed and regulated virtual money entity.

If Tom Lee is correct, capital gains tax made from cryptocurrency this tax period will account for about 20% of the US total. If these estimations are anywhere near accurate, it could be an indication to the government to seriously consider blockchain technologies and their accompanying cryptocurrencies as a vital fabric in the weave of technological and financial advancements of the future.


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