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Bank of America Acknowledges the Threat Posed by Cryptocurrency

Economy & Regulation For all the inroads that bitcoin has made on the current financial system, it has yet to threaten their ascendancy. The CEOs of Paypal, Visa, and other legacy payment systems may have been monitoring the rise of cryptocurrencies, but they have not been losing sleep over them. Now, in a frank report to the SEC, Bank of America

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Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution

Featured The Satoshi Revolution: A Revolution of Rising Expectations.Section 2: The Moral Imperative of PrivacyChapter 6: Privacy is a Prerequisite of Human RightsPrivacy is the Virtue that Sparked the American Revolution, Chapter 6, Segment 2A general dissolution of principles and manners will more surely overthrow the liberties of America than the

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Bank Of China Files Patent For New Blockchain Scaling Solution

The commercial, state-run Bank of China, not to be confused with the People’s Bank of China, the country’s central bank, has filed a patent with the Chinese State Intellectual Property Office (SIPO) for a solution to scale Blockchain technology systems, according to local news outlet tech.ifeng.The bank originally applied for the patent on Sept. 28, 2017, with a Zhao Shuxiang indicated as the

Gifting Bitcoin Is One Way a Person Can Avoid Paying Crypto-Taxes

Taxes After the newly written U.S. tax laws recently passed, cryptocurrency investors realized the tax-free exemption filing 1031 for IRS reporting is no longer applicable to their digital asset investments. The law also implies that a lot of people will have to pay taxes on every single transaction they processed throughout the past twelve months. H

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Week in Review for February 23, 2018: Sidechains, Stings and Venezuela

In the past week, news from Venezuela was at the forefront, where crypto mining is way up due to cheap electricity. But their stab at launching their own crypto, the Petro, is not looking like a great plan so far.Good news in regulation, however, is coming from the state of Wyoming as the House unanimously passed two pro-blockchain bills, with five more in the pipe.On the technological front, rese

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Mining Boom: Bitmain’s Profit Over $3 Billion According to Researchers

Beijing-based start-up Bitmain now dominates the Bitcoin mining industry. Last year it is estimated the company made as much money as chipmaker Nvidia did, according to estimates from researchers at Wall Street analyst Bernstein. Based on conservative estimates, the analysts calculate that Bitmain made $3 to $4 billion in operating profit last year. Bernstein’s U.S. semiconductor

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Tezos Head & Board Member Step Down, Platform Prepares ‘Timely Launch’

The Tezos blockchain project may finally get underway after two board members of the Tezos Foundation, including its founder and president Johann Gevers, voluntarily stepped down and were replaced by Tezos community members, according to a press release published Feb. 22.Newly appointed Ryan Jesperson and Michel Mauny join Lars Haussmann, appointed to the board on Jan. 31, right as the foundation

California Bill Aims to Recognize Blockchain Records

News The state of California has introduced a new bill that aims to recognize blockchain transactions, digital signatures, and smart contracts as a legal form of record. Assemblyman Ian Calderon introduced Assembly Bill 2658 on February 20 in order to re-define laws that apply to electronic records that take place within the state.  Also read:&n

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Tezos Foundation Changes Leadership, Tokens Set to Launch in Coming Weeks

The Tezos ICO raised $232 million last July for the blockchain startup. Seven months later, after progress was delayed due to infighting between the founders, the project’s tokens are finally set to launch “in the next few weeks.”The Tezos foundation raised funds to develop a new cryptocurrency last July through an initial coin offering (ICO) that generated $232 million. While the ICO r

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Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

Power Block Coin, LLC’s proposal to invest $251 million to build a cryptocurrency mining farm in Montana Connections, a special tax district west of the city of Butte, has been given the green light.This Wednesday, Butte-Silver Bow Council of Commissioners voted unanimously (9-0) to allow Utah-based Power Block Coin, LLC — a subsidiary of Blue Castle Holdings Inc. — to build a campus of

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