Bitcoin Venezuelans straw, food also rely on bitcoin

Bitcoin Venezuelans straw, food also rely on bitcoin

In the economic crisis and financial turmoil amid the worsening, the Venezuelan people are searching for alternative assets and the value of storage to solve their daily life. While gold and other physical assets are subject to strict regulation, which prompted the bitcoin demand in this struggling countries increase.

The number of children in Venezuela because of hunger and death is increasing in some areas of military personnel and even began to resort to force food smuggling into the country, residents are trying to obtain the basic necessities of life, such as drug.

In 2016 December, “New York Times” in-depth reports the current economic situation of financial ruin in Venezuela, including NicholasCasey published “the hungry people of Venezuela is by boat fled the financial meltdown and accurately display the economic and monetary system of the country’s collapse.

The The Associated Press has just issued a report describing the serious shortage of cash has made the country people are unable to buy enough food and medicine to support the family. Therefore, people are by boat across the border and immigration to Columbia, and military personnel are to the country to sell smuggled food for hungry people.

People turn to bitcoin

The bitcoin market is not very large. Due to the bad financial situation, the country accounted for only a small part of the global bitcoin exchange market.

However, more and more people are turning to bitcoin, so try to get a practical value and can exchange for the basic necessities of the currency.

The owner of the individual has been reported successfully carried out bitcoin mining from students to dig out, and use bitcoin to buy goods in accept bitcoin online markets, such as food and medicine. Some students are using bitcoin service providers, such as, ordering food in the amazon.

Some media have reported that in Venezuela, Google keyword search volume “bitcoin” growth in the past 400% months, people are looking for alternative currencies or assets to support their life.

Considering the current financial trends in Venezuela, such as bitcoin can completely replace national currencies, these countries now have little value of money. And to the center of the currency does not require government agencies to permit trading settlement, can pay directly with each other.

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“The abolition of the” cash or bitcoins like a raging fire, the biggest winner?

“The abolition of the” cash or bitcoins like a raging fire, the biggest winner?

The modern society is completely dependent on the Bank of similar media institutions to establish trust for the economy. Generally speaking, this kind of media has been playing its role. However, the business model and new technology in the past in the collision also causes many problems. The business model and the old property inherent is centralized, which is centralized by its own scale down.

In 2009, the largest in the history of the past financial crisis, bitcoin (Bitcoin) born quietly. The encryption of electronic money, unregulated, nor any government or private entities to issue.

Although bitcoin itself is not much intrinsic value, the beginning price of only a few cents, but its biggest selling point is the technology foundation block chain, this technology has decentralized and anonymous attribute.

You can use the traditional currency to buy bitcoin in the online exchange. Can according to the monetary unit whole purchase, can also according to the decimal split after the purchase.

Because bitcoin online exchange is vulnerable to hackers, in order to ensure the safety, need to use electronic money to store bitcoin wallet. Private electronic wallet users can securely store coins, and create a backup in the mobile phone or line.

From 2010 to 2013, bitcoin for four consecutive years to become the world’s strongest currency, even better than gold. However, good times don’t last long in 2014, bitcoin, the bubble burst, making it one of the world’s worst performing currency.

Although the rally to continue in 2015 and 2016. But bitcoin is currently the price is about $960, far below its 2013 at the price of $1200.

Bitcoin is to build trust, and promote direct trading between the global classification account, it does not require any third party. Based on the trust of both parties on account account established in cooperation and encryption, does not require any single authority. Each transaction is recorded by all parties to share.

Essentially, block chain is a non centralized, decentralized electronic ledger, who has tracked how many bitcoins, from all over the world all bitcoin users common record and maintenance. Block chain is a group of client nodes, and these nodes by solving a computational problem, to obtain the right of entry.

After calculation, after a large number of blocks are created, the transaction list is updated every 10 minutes. These records form a series with time stamp blocks, they represent a complete transaction history block chain.

Any node block chain network, we can observe the whole chain of data block general ledger; jointly maintained by each node, each node can get involved in the maintenance of a complete copy copy database.

Block chain is a good idea against hackers, hackers need to modify the data block chain can decrypt each computer on the encryption level high in each of the participating users under surveillance, this impossible task will make any hacker flinch.

Participate in the process of block client can earn certain amount of new issuance of bitcoin, and to speed up the transaction processing transaction fees paid by users. But in order to get the new bitcoin, involved in the handling of block end user takes time and a lot of computing power. This is a process known as “mining”. Block chain becomes more and more complicated, the calculation output halved in its established basis. The deflation process so that the future computing capacity of bitcoin required is increasing.

Many people put their resources together to build an organization, such as bitcoin as new privacy tools open to all, to promote innovation. This is a global development project a bitcoin function continuous adjustment and optimization.

Bitcoin is an important characteristic of most concern is the lack of confidentiality, even if the true identity of the user and the bitcoin block chain completely without any contact. Bitcoin is not completely anonymous, but there is a positive community are developed to make bitcoin more intimate. Still there is a link between bitcoin store address and other transactions.

Because completely stored in the public domain, the government regulatory authorities, not by similar FISA (Foreign Intelligence Surveillance Act) and other laws to implement the compulsory execution, and launch a legal action potential.

Thus, bitcoin unfairly forced and hacker attacks and other illegal activities together, and is portrayed as anti-government tools, but these labels ignored the basic fact that bitcoin that people have the ability to fully control their personal financial activities.

Spencer Bogart (SpencerBogart) Needham&Company investment company wrote in a report released in September 22nd this year: “with the modern Internet of the old financial infrastructure usability improvement, especially in electronic content, the latter does not create a new infrastructure.

“On the other hand, bitcoin is the new electronic money base.”

“Bitcoin prices will benefit from the two aspects: the demand as” electronic gold “and the value of its utility as a payment channel”

The relevant investment report also showed that bitcoin mobility increased steadily, its volatility gradually decreased. Bitcoin daily fluctuations in current prices and crude oil price is not much difference between, or even lower than the popular Internet Co IPO.

Emerging markets especially in favor of bitcoin, due to the deterioration of these currency instability in the region and financial conditions.

High cost of capital controls and cross-border transactions to lower transaction costs bitcoin is becoming more and more popular.

Transfer function is a major factor in bitcoin popular. The immigration of cross-border transfers when faced with high cost, time-consuming obstacle. Like bitcoin such access to foreign currency by family members to complete the remittance in just a few minutes, but compared with the world’s major banks generally 10%-20% transfer fees, transfer fees only 2% bitcoin.

Many problems in the global financial system within the scope of centralized. Wage earners have contributed to Britain from Europe and Trump was elected, which itself is a reflection of these issues. However, this grassroots consensus not only appear in Europe and the United states.

Over the past few weeks, the president of India Modi in India accidentally set off to recover large currency movement, triggered a massive collapse of India’s economy.

According to Reuters, the India government announced the recovery of 500 rupees and 1000 rupees large notes, “India 202 thousand Taiwan ATM machine nearly half was shut down on Friday,” there are more than 80% currency blocked.

India province has hundreds of millions of people in front of the bank Voices of discontent. Mumbai there are rumors, to the old version of big money deposit account, need to pay up to ten times the price.

At the same time, Bloomberg quoted India’s finance minister ArunJaitley calm comments: the people of India in the banks “in order to queue”.

Jaitley said, “the biggest regret is people (will therefore become more and more inconvenient).” In stark contrast to his description of India and numerous high streets and back lanes chaotic reality scene.

In June this year, according to Credit Suisse Securities Research Report shows, “with the data into the new currency, financial institutions in order to get customers electronic information rich, will be willing to waive the transfer cost.”

“With the commercial payment into electronic data, the cost of debt has accelerated the process of economic monetization in no.”

Credit Suisse estimates that at least 90% India consumer purchase is the use of cash.

Recently, India’s prime minister Modi by NBC said: “we can use less cash from the society to the cashless society.”

He also encouraged the daily wage of workers: “for you, this is an opportunity to enter the electronic world.”

Modi Hindi speech, urging them to use mobile phone client and bank credit card. Modi also called on young people to teach others how to use electronic money.

The government of India declared its biggest concern is the tax evasion and the black market. These concerns are also common in overseas.

Huitong financial has been reported in November this year, UBS analyst JonathanMott believes that the Australian government should follow the example of India abolished large amounts of paper money (100 and 50 dollars).

According to his report to clients, to recover large paper money will be beneficial to the economy and the banking industry “”.

He thought back large amounts of paper money benefits, reduce crime and welfare fraud, and tax increases, but also make “a sharp increase in bank deposits”.

At the same time, Citibank has become one of the first announced the implementation of cashless bank in the part of Australia branch.

At the beginning of this year, “Sydney Morning Herald” (SydneyMorningHerald) published a number of articles, the concept of non cash, some authors even Australia officials of the Ministry of finance. Australian assistant Treasury Secretary AlexHawke said the abolition bill will “save billions of funds”.

The government, media, banking and college elite has formed the implementation of the “cashless” is conducive to the consensus of the people. Due to fraud and terrorism panic movement, will have no cash in rationality concerns dispelled.

In fact, governments and social economic development will also benefit from the cashless society, because all of the savings will return to the banking system, and they have the bank’s overall supervision. While the middle class has been immersed in digital technology.

With capital controls or civil asset forfeiture (CivilAssetForfeiture) reducing the difficulty, social imbalance will worsen. At the same time, without any standard can prevent underground electronic cash or black market in essence.

To limit the impact of gambling risk from banks is related to the global economy probably is a satirical move.

The legal supervision department Bank in the past is often caught illegally manipulating interest rates, the creation of false accounts for Gregory predatory lending, users of the trust mechanism of damage.

AuthorDonTapscott asked: “with the redistribution of wealth, we can advance the distribution of wealth? We can make the distribution of wealth from the very beginning of democracy?”

More people need to participate in the economy at the same time, in the process, but also to ensure that they get a fair return. The Silicon Valley (SiliconValley) has begun to try through digital data service to achieve the purpose.

Tapscott said, the so-called “sharing economy” is just a scam. New start-up and step (Uber) and the old business model Airbnb using centralized, actually exploited labor that get billions of dollars. The profits are hoarding rather than real share.

Another block of chain innovation, the concept of intelligent contract, the contract will be good to provide fair compensation behavior. The man in the middle will be removed from the trading process.

Based on goodwill, and is written into the software code will execute the contract automatically when meet certain conditions. All these processes are independent of intermediary, intermediary has its own disproportionate power.

Money and influence will return to the real service composition, independent writing news people. A healthy balance of power will appear in a more liberal society.

The progress of technology can provide more opportunities, especially for the third world countries need the opportunity.

Personal data as a new asset can make people have their raw data, and its realization. Not to enter the big banks or social media sites all free gift to each other.

The client itself by providing personal information, is actually in the company to provide services. Companies rely on the capture of personal information, to provide customized advertising to profit, all of which cause harm to personal privacy rights.

To obtain the money inequality triggered a negative feedback loop, during this cycle, imagine the scarcity of billions of hunger and hard to make a living.

Created in the electronic age, there will be a huge amount of wealth, but social inequality will still continue to develop, because the design center is asymmetrical.

This is not only has to maintain the privacy of ideological tendencies, keen to block chain technology, full of complaints.

The height of the center of the organization because of its huge size, weak protection often become attractive target for hackers, these institutions in the era of rapid development of science and technology also can keep pace with.

The Wall Street giant JP Morgan chase and Citigroup, as well as the technology giant Microsoft and IBM, have announced plans to launch its based on block chain technology, different types of applications. These technologies will greatly shorten the processing time of contract transaction, make its internal operation more smoothly. At the same time, its security also will be fully upgraded.

Sexual selection limit the elite faces is to be replaced or acquiesce to the center of the concept.

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The Spanish banking group BBVA: block chain supervision to transcend bitcoin

The Spanish banking group BBVA: block chain supervision to transcend bitcoin


The Spanish banking group BBVA (BBVA) released a new research report on bitcoin blockchain and regulations.

The report published in January 2nd, pointed out that the current state of regulation, that private block chain use case rules behind bitcoin guidance, the actual operation of digital currency known as block chain application “”.

The author, BBVA JavierSebasti, manager of the N digital rule that there is a need to block chain case supervision enterprises. However, he admitted that at present, the technology is still in the exploratory stage, so it is difficult to solve.

Overall, the report should take immediate action to clarify may hinder the block chain project started, and called for “must establish a legal framework for its legal nature, including the applicable jurisdiction and the scope of the law, the attribution of responsibility problems.”

Sebasti n wrote:

“There are some problems are very common, starting from the characteristics of the blockchain, should solve these problems as soon as possible.”

In addition, the author also believes that the need to clarify the legal effect by blockchain records stored, and whether the contract can be legally executed intelligence.

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The currency inflation, 2017 of the five countries is expected to become the dark horse of bitcoin transactions

The currency inflation, 2017 of the five countries is expected to become the dark horse of bitcoin transactions

There are 14 countries inflation beyond the normal 18%. As of press time, the 10 national inflation rate continued to rise. Recently, the bank for special assistance and inflation crisis events led to the world economic turmoil, while the number of users and the price of bitcoin has experienced a number of rose.

Bitcoin hedge assets

2016 it can be said that the global economic turmoil of the year, and to 2017, due to the failure of monetary policy, this situation will be more serious.

In March 2013, the government of Cyprus to freeze the bank accounts of people who taxed, caused a public panic. The next few weeks, bitcoin prices soared five times. Maybe people have seen bitcoin in economic hedging and speculation advantage from.

Since then, the government has never stopped economic failures, from the Greek crisis, off the European referendum to Venezuela inflation, currency policy waste to India, each event is accompanied by a rapid growth in the price of bitcoin, as more and more investors are aware of the hedging function of encryption currency. Indeed, even the experts have a whoop and a holler in the mainstream media bitcoin hedging ability, they think that bitcoin function and gold is similar to or even better than gold.

According to the global economic index (TradingEconomics) data show that currently has 14 national inflation rate exceeds the normal standard of 18%. As of press time, the 10 national inflation rate continued to rise. In the 10 countries, by 2017 if the inflation rate is still high, which the people of the 5 countries economically and technically absolutely have the ability to choose the safe haven assets of bitcoin.


The currency issue Venezuela continues to deteriorate. The global economy index data show that by the end of last year, the average monthly inflation rate in Venezuela is amazing, up to 181%. This year, the global economy is expected to target the country’s inflation rate has reached 410%. The International Monetary Fund (IMF) even in Venezuela in 2017 inflation rate can reach 1600%. The World Bank (WorldBank) said that a country’s average monthly inflation rate once exceeded 50% can be regarded as hyperinflation.

When the Venezuelan people after the holiday, everything is getting worse. In order to attack the government decided to abolish the temporary cash hoarding phenomenon, the largest denominations of 100 Bolivar (Bolivar). For the people of Venezuela, 2017 is destined to be a painful year.

Fortunately, the bitcoin community is gradually expanding. The government free power supply also provides an excellent source of income for those who know people with mining equipment. In 2017, Venezuela is an important tipping point to force a large number of people to bitcoin, believe that this is only a matter of time.

The Republic of Suriname is a small country, the Dutch is the official language, is located in eastern venezuela. Suriname also suffered a serious inflation problem, the inflation rate reached 77%, and is still on the rise. It is reported that corruption is a major contributing factor to this economic difficulties. Like their western neighbors, the people of Suriname ready to accept bitcoin, intelligent mobile phone in the country holding rate has reached 175%.


Unfortunately, the country has not yet appeared in any formal bitcoin community. Although Suriname is very small, but once people started to use bitcoin, a digital currency in the spread between the millions of people still need time.


Angola is one of the many African countries suffered invasion of inflation. According to official data released last year in the country, Angola last year’s average monthly inflation rate of 44%. Richly endowed by nature oil and mineral resources make it the seventh largest country in Africa has become the most important supplier of oil Chinese. At the same time, Angola is the world’s fifth largest diamond mining. Angola’s mobile phone coverage is very broad, the quality of people’s lives is far higher than that of their neighbors.

At present, the people of Angola bitcoin are poorly understood, but the domestic has been started with Localbitcoins trading.


For another problem of inflation in South American countries of Argentina, for the first time exceeded 40% inflation rate in ten years. At present, Argentina is back in 1990, lingering inflation.

In addition, Argentina still is a relatively advanced country. The development of domestic currency community forming bit, excellent step driver also has begun to accept bitcoin payments.


West African population in Nigeria has reason to choose bitcoin. Nigeria in the first quarter of 2017, the inflation rate will exceed 20% forecast global economic indicators. More importantly, in contrast to Kenya and Uganda and other neighboring countries, mobile money transfer service M-Pesa to flourish in Nigeria is the government not to the local bank interests, not unfair supervision in this area.


Nigeria mobile phone ownership rate reached 107%, the number of users exceeded 150 million, and the United States in the same standard. In the high inflation economy, digital currency is banks and politicians can not stop, therefore, bitcoin will also bring huge influence to people in Nigeria.

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The five largest economy in the bitcoin ecosystem

The five largest economy in the bitcoin ecosystem

Most of the people in the description of bitcoin, they will pay attention to the price and the market value of billions of dollars. However, if bitcoin ecosystem is far beyond most people’s imagination.

Since bitcoin was established, it has attracted a lot of people for their agreement and work. Including the miners, software developers, startups, artists and writers, and more every day in groups make contributions to this infrastructure.

The five pillars of the bitcoin ecosystem

1. miners

Bitcoin has created a growing industry — digging mining. Individuals and organizations including the miners, do every day to dig coins, they also shoulder the responsibilities of protecting the bitcoin network. In addition, there are companies responsible for the production of mining equipment and ASIC chip, with a large number of companies involved in this field, the industry is also increasingly fierce competition. With the development of technology, many years of mining has finally growing exponentially. Due to its technical factors, mining industry is still a niche market, but it is expected that it will still be significant growth in the future.

2. software developers

Even in the bitcoin software developers outside the industry, is also very popular. With the growing popularity of encryption currency, is committed to the block chain and digital currency technology programmers become more popular. Many financial companies and promising startups are looking for software developers to help build the blockchain agreement. If you search for the industry in this kind of job Monster online, you will find that the most prominent position is to understand bitcoin blockchain programmer. Bitcoin developers of the economy, with the passage of time may increase substantially, because this type of work will be more and more demand.

3. digital currency and block chain company

With bitcoin’s growth, the emergence of new company aims to use this technology. In the past few years, there have been many start-up companies to establish their own unique ideas. Some companies focus on bitcoin remittance, some select payment processor direction, others choose bill payment solutions, and ATM manufacturers, hardware production and more types of enterprises. The business model of many start-up companies created, in bitcoin does not appear before there is No. Exchange, trading market, distributed autonomous organizations, market forecast and so on, these are real and point to point to the center. Focus on encryption currency and block chain startups will be more and more, which will fail, but some will be very successful.

4., network marketing and writing art

The bitcoin economy also brought to market, marketing staff writer and graphic artist. Bitcoin industry need someone to create text, advertisements and images to help spread and use. Since bitcoin founded, many authors, graphic artists in different ways, in the news media or blogs on the spread of digital currency and block chain.

5. more occupation, and pay attention to safety

To fill the other occupation bitcoin economy, including consultants, accountants, human resources, risk management and so on. For example, people often turn to consultants to help them master these emerging technologies.

Bitcoin ecological environment is another important growth market security. Network security and innovation method to protect digital assets will always be necessary. Events like hackers and extortion, will continue to threaten the security of online. This encourages individuals and organizations more committed to improving multiple authentication techniques, such as biometrics, threshold signature high security concept. The bitcoin protocol created a powerful wealth transfer system, without the participation of the third party, but the improved security solutions will continue to be needed.

Bitcoin evolution is much faster than we thought

These important microeconomic system tied to a bitcoin environment. With bitcoin continues to use the mainstream, and reached a critical point, these smaller economies will expand indefinitely. In addition, the bitcoin economy should give more opportunities to participate in individual and group.

Bitcoin in the early growth stage, it is reminiscent of the birth of the Internet era. As time wore on, bitcoin of social change may become more subtle, but look at the micro economy development, has shown that things are changing fast.

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Supload bitcoin to challenge Imgur

Supload bitcoin to challenge Imgur

Image hosting is one of the new and improved bitcoin applications, thanks to the on-line a month Supload. It is reported that the Supload service will bitcoin payment to its users to share advertising revenue. linked to the co-founder of Supload MikeReilly, he recently announced that its website has thousands of users worldwide to pay nearly 2BTC advertising, it is worth noting that there are a lot of people is the first contact with bitcoin.

What is the Supload?

Supload is a new online image hosting service, and it is very similar to the popular website Imgur. Supload allows users to upload photos, such as meme (meme) and dynamic GIF images, and the hosting is free. Then the user can share or insert picture links to social media sites, such as Reddit and Facebook.

Is the biggest difference with other services, Supload will provide its users to pay 50% of the advertising revenue, according to the settings, the user account with $1 or more to cash. According to the website, once the user has earned more than this number, they can at any time by way of bitcoin withdrawals.

Because the service expenditure is usually very small, using the traditional payment services (such as Paypal) will make the business model difficult to continue. While bitcoin in micro payment on the potential of the establishment of this website to promote Reilly. He told reporters:

“We believe that the ability of bitcoin has given us at the lowest cost to the world of instant content creators pay.”

The new user contact bitcoin

Supload in its first month of operation, will be a lot of people support. Since a few weeks ago we launched this service, the number of our users reached about 2000 people, “Reilly said,” about 70% of these users is positive.”

With the website users and the new function is increasing, supload began to spread on social media through the picture marketing approach, but this tactic has helped them find new users.

Reddit user “ttwtf12” comment:

“The amazing website, because it is my only contact with bitcoin, I had to bitcoin is how to work have been confused, I always contact with bitcoin hesitate, but this site allows you to earn some bitcoin, then you can understand how it is trading.”


Although supload provides users with half the cost of advertising, between it and the other image hosting service website is still a big gap. Imgur is now the world’s largest image hosting site, according to site statistics service Quantcast, Imgur currently has 79 million 700 thousand monthly unique visitors and 2 billion 600 million page views, in the world’s most popular website ranking, Imgur ranked fiftieth.

In the image hosting market tens of millions of users, how many people would be willing to choose Supload, which is still an unknown. But at least they will have some people will be attracted, and come into contact with bitcoin. Who knows, maybe Imgur will be used to encrypt user and revenue sharing money.

Supload plans for the future

Reilly and his partner supload created the service, but also help in the growth of bitcoin. “The future of the site will be focused on the same goal,” Reilly explained, “we start from the purpose is to let the user through them on the Internet to do can more easily get bitcoin,” he said.

In addition, Reilly is also planning a variety of Web site updates, including more profit function. The site will also add the social function, the user after the completion of the activity, we will reward them some bitcoin, “he said.

Reilly concluded:

“For now, we just do the image of monetization, but in the next few months, we will focus on the content of money work more widely, such as files, video, and several other options.”

Do you think Supload will have the prospect? Please give your opinion.

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Microsoft office software to support bitcoin

Microsoft office software to support bitcoin

Microsoft’s upcoming “Office365” version will support bitcoin bills and computing.

Bitcoin is one of the most valuable currency is now encrypted. Expand bitcoin popularity also makes Microsoft in its products to support bitcoin.

MicrosoftOffice can be said to be the maximum utilization of a software. Any person familiar with computer in at least one of the products using it. Now “Office365” users will immediately can manage their bitcoin bills in Excel form. Microsoft representative MartinButler announced “Office365” new features in the upcoming 2017. In his Linkedln post, he mentioned five new features: real-time record, Skype (VoIP) conference broadcast translation, bitcoin monetary support, address and apps has limited access policy, Excel data collection and the ability to shape; and OneNote of classroom and collaboration to improve.

Although these 5 new features are very attractive, but the function of it to support bitcoin still attracted a lot of bitcoin community members. According to Martin, an updated version of the 2017 will be able to identify and set the format, the calculation and analysis of the expression of digital currency bitcoin. Although this feature in all relevant equipment on the platform can be obtained, it seems not so advanced, but the Microsoft initiatives clearly shows the potential to accept bitcoins as mainstream currency.

MicrosoftOffice new features added time coincided with the bitcoin community to hold currency tax confusion encryption. Recently, IRS (IRS) let Coinbase provide user information of the events is made one pair can help people calculate the tax software requirements. The new Excel support bitcoin is to provide people with some convenience.

Microsoft in the bitcoin and block chain technology is not new. The company to accept bitcoin payments can be traced back to 2014. At the same time, it also includes the Azure block chain service (Baas) provides applications with blockchain based customer. The application software and the bitcoin community hope that technology giant Microsoft will in the near future to provide more bitcoin friendly.

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Bitcoin success exceeded $1000, the IRS asked the court to dismiss the application for Coinbase users

Bitcoin success exceeded $1000, the IRS asked the court to dismiss the application for Coinbase users

The morning of December 29th, bitcoin continues to rise, successfully seized 2016 tail, exceeded $1000. The global bitcoin market strength seems to make the IRS (IRS) to further increase the pace of bitcoin tax. IRS has submitted an application to the court, asking the court to dismiss the Coinbase user object before submitting the IRS to collect user information for Coinbase.

The IRS (IRS) a district court in California has rejected a user bitcoin exchange Coinbase provides for the user data of the application may prevent IRS access to Coinbase.

Submit IRS application to the northern California District Court (the court responsible for the supervision of San Francisco City, the headquarters of Coinbase), these new documents requested the court to reject the Coinbase user application, the reason is the requirement of IRS for Coinbase users only those unidentified.

This application is submitted from the Law Corporation’s lawyer JeffreyKBerns BernsWeiss.

IRS think Berns submission to stop their investigation. Berns in the submission process has shown itself to be a bitcoin users query to IRS he is not interested, but his legitimacy on IRS means there is doubt.

It is worth noting that the initial application in Berns earlier this month to submit the investigation, he asked the court to reject the IRS, the reason is IRS a “JohnDoe” summons (of all people of a particular group of potential illegal tax information) will constitute an “abuse of process”.

However, on November 30th, U.S. district judge JacquelineScottCorley has approved the request of the IRS, this is IRS forcing Coinbase to hand over user information to clear obstacles.

In addition to worry about the requirements of IRS Coinbase user information belongs to “ultra vires, ‘Berns said he is also worried about the surrender of user information the user will be more vulnerable to attack.

The current progress

In short, IRS dismissed the application represents the current “IRS Coinbase user information” incident of the latest developments, in November, IRS began to encrypt user as a goal to fight against tax money potentially illegal.

Earlier this month, the Coinbase issued a statement, said they expect to make contact with the IRS, and will update events progress.

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2017 block chain technology will be a year of rapid development?

2017 block chain technology will be a year of rapid development?

In the new year we will witness the application to block chain based in all walks of life to shine.

The bottom block chain bitcoin to get a lot of applications in a recent period of time. Banks and financial institutions is mainly on the development and implementation of the distributed ledger of interest and hope its application in their field of operation mechanism. Financial technology is one of the most recent hot. A lot of financial technology applications are based on block chain technology, which can be foreseen will have great development in the new year 2 block chain implementation.

If the financial industry in the past two years relatively flat, then the next year it will be exciting and important. The financial industry has received a $60 billion investment in the past ten years. This number will only increase in the future. These funds will be increased to achieve the purpose of creating market opportunities for start-ups.

Do not stop at the financial science and technology investment. According to a recent report in Frost block chain has the potential to help the financial industry in technological innovation to do better. Sullivan believes that the use of block chain technology can prevent cyber crime. Cyber criminals still continue to find new ways to break the network security of enterprises. The enterprise email exploits is recently used by hackers, and other advanced persistent threats in the enterprise headache. They believe that using block chain technology can increase the level of trust and the convenience of all walks of life to exchange messages between equity holders.

Expert analysis in enterprise magazine said:

The establishment of information sharing and Analysis Center (ISAC) will be combined with the private platform for participants to share threat information. The blockchain will serve as technology to facilitate business exchanges, members of the block chain will identify trusted and provide a tamper proof system, which can prevent unauthorized changes to the shared data.”

The application of recently released by the BNPParibas financial technology accelerator is one symbol of many mainstream institutions to increase interest in the chain block. If these are taken into account, obviously digital currency technology is more and more eye-catching performance in 2017.

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Bitcoin industry development within the regulatory framework

Bitcoin industry development within the regulatory framework

Bitcoin trading volume continues to rise China. According to reports, as of the five day of December 28th, denominated in dollars and RMB denominated bitcoin rose more than 18% and 20% respectively. While the November global bitcoin transaction volume more than 15 trillion yen ($12 million 760 thousand), an increase of 50%, than last month, Chinese large bitcoin exchange transactions accounted for 90% of the global total share.

Highly active but anonymous bitcoin transaction caused a lot of concern of Internet users, some people worry about bitcoin become money laundering, swap tool. Internet users believe that regulators need to keep up with, let bitcoin industry healthy development within the regulatory framework.

The trade expansion activity rose

Earlier media reports, the current domestic bitcoin trading platform to provide “currency” service, some single transaction amounted to tens of millions of yuan.

Some netizens pointed out that as early as 2013, a number of bitcoin insiders revealed that the domestic game player in this way for overseas friends, remit tuition and living expenses, there are also some game player through bitcoin, to transfer part of the assets. But when bitcoin volatility, market risk and policy direction is not clear, so tiny. Now, as more and more countries for bitcoin as a new currency denominated or recognized, bitcoin prices rose steadily, to improve the security of asset transfer.

Bitcoin can be convenient, freely convertible into legal tender, all at the same time, it is the most central banks as a commodity, rather than money, the commodity property can avoid part of the country’s capital control.” Netizen “Tianjin happy child”.

In addition, the netizen “Wu Jian” pointed out that, given bitcoin anonymity and tracing difficult characteristics, this part of the assets is easily concealed, but due to the lack of law, the state taxation departments to monitor, tax evasion is possible.

The prevention of illegal use and malicious speculation

According to the above concerns, some netizens believe that without excessive risk. “Now the domestic and foreign exchange have strict anti money laundering measures, including the real name authentication system, strictly limit the currency quota system, combined with the current exchange rate, so the implementation of money laundering bitcoin exchange time and capital costs are relatively high, is not a good channel. So is the swap.” Netizen “Wu Jian” wrote.

Netizen “Tianjin happy child” also pointed out that the central bank issued a document to define China as early as 2013 bitcoin virtual goods, and require financial institutions and Payment institutions shall not directly or indirectly, to provide other bitcoin related services etc.. 2014 reiterated the attitude of bitcoin, and suggest that bitcoin have anonymous, cross-border circulation and other convenient features that require financial institutions into bitcoin anti money laundering monitoring.

Although the illegal transaction behavior of the breed is not significant, but Internet users believe that the bitcoin industry need to develop in the regulatory framework, preventing them from being used for illegal purposes and malicious speculation. Netizen “JOCY” said that with the trading volume rose sharply, the introduction of crypto currency regulatory policy is more and more urgent, money laundering behavior must be pegged to the potential, strengthen consumer protection, virtual currency trading operators in a more formal regulatory framework under the.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.