Bitcoin News and Finance: What You Need to Know

The Bolivarian National Guard of Venezuela (GNB) is known for having a tough stance against crypto mining rig counterfeits, as several operations have been assigned to combat the issues over the last few months. This time, the Venezuelan authorities seized 76 mining rigs after allegedly detecting inconsistencies in the transport documentation. Rigs Are Presumably ASIC Miners According to a press note published by the GNB, the procedure took place in a checkpoint on the Bolivar state, specifically in the Puente Angostura. An individual transported the bitcoin ( BTC ) mining equipment on a Ford vehicle Triton, and he was stopped by the military units in a routine check procedure, stated the authorities. However, the Bolivarian National Guard detected some “inconsistences in the documentation” required to transport the crypto mining rigs legally. Members of the military then proceeded to seize the 76 pieces of bitcoin mining equipment, as they suspected the documentation didn’t com...

On April 12, the international provider of colocation services for low-carbon cryptocurrency mining Bitriver announced it is launching a pre-sale of tokens backed by 100 megawatts (MW) of mining power in Siberia. The ERC20 tokens called “bitriver token (BTR)” will represent a single watt-hour (Wh) of Bitriver’s power in Bratsk. A Low-Carbon Crypto Mining Token The blockchain and mining firm Bitriver announced the organization is launching the public sale for its new tokens called “ bitriver token (BTR) ” on April 19, 2021. Each token represents a single watt-hour (Wh) of Bitriver’s low-carbon cryptocurrency mining power and the tokens will have utility as well. According to the company’s announcement, the tokens will be able to be used to pay for Bitriver’s colocation services and “will be bought back by Bitriver at original listing price after a five-year period.” Right now BTR is available to pre-sale investors with a minimum order quantity of 100,000 BTR tokens per order. As f...

Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines Could Be ‘Over $5,900’ if a Crypto Holder Fails to Declare Mandatory Tax Filings According to Telemadrid , Spain’s tax agency was clear on making cryptos taxable, and notifications have already arrived to their correspondent receivers. Spanish crypto holders should declare their earnings in the tax filings, and if they fail to do it, Hacienda said they could incur fines of over 5,000 euros ($5,900). However, Hacienda clarified domestic crypto holders are not accountable for their crypto buying operations, but only the profitable sales. Experts quoted by the local media outlet explained that Spaniards should declare profitable sale operations “made over 2020” on this occasion: Either b...

Gambling may be no stranger to the blockchain, but poker’s appeal amongst players has only expanded further as poker sites embrace bitcoin and Covid-19 moves gameplay increasingly online. Famed Game Puts Spotlight on Varied Blockchain Use Cases Although online betting and gaming were already widely popular before the emergence of blockchain, as the technology has played a pivotal role in gaming’s ongoing transition. Online poker was one of the earliest games to join the blockchain framework due to the inherent fairness and equity that accompanies distributed ledger technology, not to mention the legal woes it faced. Users from all over the world could join these platforms and verifiably trust that their funds would be kept safe. The discretion of using bitcoin to transact didn’t hurt either, given the anonymous nature of this payment method, allowing players restricted by regulation and geography to participate. Bitcoin and blockchain have become a mainstay of the poker ecosyste...

PRESS RELEASE. Jorge de los Santos is the man behind Euler.Tools, a platform that wants to change how people analyze the blockchain industry by providing an all-encompassing view of crypto paired with an easy to use interface. Similar to the legendary mathematician and project’s namesake Leonard Euler, who founded graph theory and solved the Königsberg bridge problem, Euler.Tools aims to create a method for navigating a complex problem. Euler.Tools helps users find the most efficient way for users to navigate blockchain technology using educational, interactive tools. T raders have to utilise different platforms since each provide different data and offerings. Euler.Tools solves this by offering users 10 different tools that allow traders to cross examine on-chain activity, price action, and other data points to make more informed trades. Euler.Tools offer a combination of all the popular toolsets in a single interface, making blockchain technology and activity easy to understand....

This week our newsdesk covered the world’s wealthiest cryptocurrency billionaires after the American business magazine Forbes published the 2021 list of billionaires. Now it was mentioned in our report that Satoshi Nakamoto didn’t make the cut, even though Bitcoin’s inventor is one of the wealthiest people in the world. Using today’s bitcoin exchange rates, data shows that if Nakamoto has 1 million bitcoin, then the infamous creator has made it into the top twenty, as far as the world’s wealthiest billionaires are concerned. Bitcoin’s Creator Is a Member of the 1% The mysterious creator behind the Bitcoin project is unknown and there is very little information out there concerning the identity of the blockchain inventor or group of inventors. However, there is some information that the community is aware of, and it is well known that Satoshi Nakamoto helped kickstart the network and was with the community up until 2010. It is estimated that Nakamoto holds at least 750,000 to 1.1 m...

The Central Bank of Nigeria (CBN) has recently suspended the provision of the bank validation number (BVN) service to all fintech and third-party partners. The decision means non-banks entities include crypto startups “have lost one of the most comprehensive means of identity verification in the country.” New Identification System Before the latest decision, the CBN accepted the use of the BVN alongside any other acceptable identity documents for KYC purposes. According to the apex bank, this service helped to “check risk and determine whether or not there is an element of money laundering, fraud and other corruption-related activities.” However, as one local media report explains, the central bank’s sudden decision may be linked to the Federal government’s determination to change Nigeria’s identification system. The report says: Over the last few months, the Federal government has been changing the unique means of identification of all agencies, parastatal and industries to Nat...

While bitcoin’s price has been consolidating for quite some time now, every now and then bulls have tried to press the price past the psychological all-time high captured in March. Meanwhile, a few bitcoiners have been saying that the bull market is “just getting started” even though the price has multiplied in value quite a bit. The financial entrepreneur Dave Levine has a bone to pick with these statements, after he insists the bottom was back in December 2018. Levine wholeheartedly believes, as far as the bull run is concerned, “it’s year 3 of the bull; the top of the 7th inning.” Searching for the Elusive Bitcoin Bottom and Top It’s only natural for a large group of investors who have been watching an asset rise relentlessly believe that the asset will continue its upward trajectory for a very long time. Of course, many crypto proponents are all about the ‘long game’ and are willing to hold their crypto assets for 5, 10, and even 20 years or longer. There’s also a great number o...

Nasdaq-listed Microstrategy, which has amassed nearly 100K bitcoins in its treasury, has modified its compensation agreements for the board of directors. The company will now pay non-employee directors in bitcoin, citing its commitment to the cryptocurrency “given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.” Board of Directors Will Be Paid in Bitcoin Microstrategy Inc. (NASDAQ: MSTR) has filed a form with the U.S. Securities and Exchange Commission (SEC) stating that its Board of Directors has “modified the compensation arrangements for non-employee directors.” The filing explains, “Going forward, non-employee directors will receive all fees for their service on the company’s Board in bitcoin instead of cash,” adding: In approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by ...

In mid-January, Bitcoin.com’s newsdesk wrote about the popular artist and Youtuber, Alicia Dawn “Ali” Spagnola after she “accidentally got bitcoin rich” from her Free Paintings project. Since then, a great number of people told her to create a non-fungible token (NFT) asset with her artwork, so she decided to execute the idea after many requests. Spagnola chose to mint an NFT that stems from a combination of the 2,809 free paintings she’s created during the last 14 years. A $500K NFT After Giving Away Free Paintings for 14 Years In her recent video on Youtube, Ali Spagnola is hoping to entice elite NFT collectors ( Beeple buyers ) with all of the hard work she spent on her “ Free Paintings ” project. Spagnola is a popular musician and artist with 345,000 Youtube subscribers, a large following on Tiktok, 2.4 million followers on Twitter. While focusing on her content creation and career, Spagnola started a project 14 years ago where she’s been giving away free paintings by request....

PRESS RELEASE. The first decentralized IDO platform for the Binance Smart Chain Network launched with a bang. The BSC Launch Pad is currently on Pancakeswap, and will soon be released on several popular cryptocurrency exchanges. BSCPAD is empowering crypto currency projects with the ability to distribute tokens and raise liquidity. Through the tiered system, BSCPAD has found a solution to incentivize and reward all token holders in a way that is inclusive of everyone who holds tokens, not just the top 1%, bots, or random luck, with a low barrier to entry. Where other IDOs rely on a randomized lottery system or a first come, first serve system where bots can fill the whitelist spots in a matter of seconds, BSCPAD is creating fair decentralized launches. The hallmark of the BSCPAD is a two-round system that guarantees an allocation to users in every tier. There is no luck, no lotteries, and no bots; only fair distributed rewards for all participants based on their BSCPad token holdi...

Mike Novogratz, the CEO of Galaxy Digital and bitcoin bull has warned that the United States’ failure to have its own digital currency could be an “existential crisis.” However, the CEO says the country’s fate is still in its hands. Novogratz made these comments a few days after former U.S. Secretary of State, Mike Pompeo suggested that the United States is not going to have a digital dollar anytime soon. Distortions in Financial System Still, Novogratz tells an interviewer that the United States’ success on this front will be dependent on the way the country manages its fiscal and monetary policies. He said: If our fiscal and monetary policy starts looking like it is from a Banana Republic…you are going to run into some Minsky moment where confidence breaks down. According to the report, a Minsky moment, which was espoused by the late Hyman Minsky, suggests “that a period of distortions in the financial system eventually ends very badly.” The U.S. has injected trillions of dol...

The American business magazine Forbes recently published the company’s 2021 documentation of the wealthiest billionaires in the world. According to the list published annually every March, there are now 12 billionaires that work directly within the cryptocurrency industry and the list of crypto billionaires is 3x larger than last year. Today’s Crypto Billionaires List Since March 1987, Forbes has been publishing a list of the world’s wealthiest billionaires compiled in a list for the public to view. Back then the Japanese businessman and real-estate mogul Yoshiaki Tsutsumi was the richest person in 1987 with an estimated wealth of around $20 billion. Since then, and every year after, Forbes has deployed around 50 journalists to find and track the globe’s richest people. In 2021, Amazon’s Jeff Bezos is the wealthiest man in the world with an estimated $177 billion. Bezos was the first human on earth to be listed on Forbes as a centibillionaire. Bezos is followed by the dogecoin (DO...