Crypto Ethone

  The Czech Republic just made a bold move in crypto regulation.  President Petr Pavel has officially signed a new law that exempts Bitcoin and other cryptocurrencies from capital gains tax – if they’re held for more than three years.  The decision, which aligns crypto taxation with traditional stock investments, is set to take effect in mid-2025. But that’s not all.  The country’s central bank is also considering adding Bitcoin to its reserves, a move that could shake up financial policy in ways we haven’t seen before. No More Taxes After Three Years Until now, Czech crypto investors faced a flat tax of 15% on profits from selling digital assets, with higher rates of up to 23% for high-income individuals.  That meant anyone making substantial gains had to share a chunk with the tax authorities, just like they would for stocks or other investments.  But under the new law, anyone who holds Bitcoin (or any other digital asset) for over three years won’t owe ...

 

  This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Solana. Ethereum (ETH)  Ethereum continued its downtrend this week and broke below the key support at $2,400, closing with a 6% loss.  This puts bears back in charge of the price action.  If buyers don’t show up soon, ETH may go to $2,000 next.  So far, this cryptocurrency has not made a lower low compared to the drop on August 5th, but it has made a lower high.  This reinforces the bearish bias and does not give much hope for a reversal at this time.  On the contrary, the price could revisit the lows from early August.  Looking ahead, Ethereum is in a difficult spot and may pull down most of the altcoin market if it fails to reverse this trend. Ripple (XRP)   XRP is right on the 54 cents support, with sellers keen to push it under.  The price closed the week with a 4% loss, and the momentum is bearish. If nothing changes, the current support may be lost s...

  The long-awaited and highly anticipated 'Firedancer' independent validator client for the Solana blockchain, built by Jump Crypto, will soon begin its first bug bounty program.  The program, which was announced by pseudonymous developer Cantelope Peel, will begin on July 10 and last 6 weeks. The program, powered by Immunefi, will distribute a maximum of $1 million to developers who find significant bugs in Firedancer v0.1, nicknamed "Frankendancer," the first version of the client.  Work on Firedancer appears to be progressing well, according to Cantelope Peel, who wrote on X that "Millions of slots of execution have been tested and match the Solana protocol."  The Firedancer client is meant to boost Solana's resiliency, as any issues with the current spate of clients could mean big problems for the blockchain. Furthermore, Firedancer is implemented in C/C++ which optimizes the client for the high-frequency trading Jump is known for.  "Given Solan...

  Try Binance  the safest crypto market in the world. BINANCE RESUMES MASTERCARD PAYMENTS FOR CRYPTO. MASTERCARD HAS OVER 1 BILLION GLOBAL USERS AND IT OPERATES IN 195+ COUNTRIES.

  HALVING COMPLETED After today's halving, the rate of new bitcoin created roughly every 10 minutes is 3.125.  These halving events take place after every 210,000 blocks are validated or roughly every four years and were baked into the network's design when it was originally launched in January 2009. After the halving, the block reward or subsidy associated with validating each new block of transactions on the Bitcoin network is cut in half.  The block subsidy is the newly-created bitcoin that is included in the block as a reward to the associated miner.  So in effect, the block subsidy for successful miners is now 3.125 bitcoin. See you in 2028

  The wallet reportedly linked to the U.S.  Justice Department (DOJ) initiated a 0.001 BTC transaction to a Coinbase Prime address. However, shortly afterward, the wallet transferred 30,174 BTC. On April 2, a wallet reportedly linked to the U.S. Justice Department (DOJ) initiated a  0.001 BTC transaction  to a Coinbase Prime address. However, shortly afterward, the wallet transferred 30,174 BTC, valued at around $2 billion, to a new address. According to internet investigators, the Bitcoin-holding wallet was seized from  James Zhong, who was convicted in 2022 .  For context, Zhong was  convicted for stealing over 51,680 bitcoin  from the online black market Silk Road between 2012 and 2014.  During 2021, American authorities conducted a raid on Zhong’s premises and found hard wallets storing Bitcoin.  According to a DOJ press release, this seizure was then the largest  cryptocurrency  seizure in the history of the DOJ. The U.S. ...

  Bankman-Fried, 32, sentenced for fraud on customers of the FTX cryptocurrency exchange he founded. Former crypto tycoon Sam Bankman-Fried has been sentenced to 25 years in United States federal prison for stealing $8bn from customers of the now-bankrupt FTX cryptocurrency exchange he founded. US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing on Thursday after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money and accusing him of lying during his trial testimony. A jury found Bankman-Fried, 32, guilty on November 2 on seven fraud and conspiracy counts stemming from FTX’s 2022 collapse in what prosecutors have called one of the biggest financial frauds in US history. “He knew it was wrong,” Kaplan said of Bankman-Fried before handing down the sentence. “He knew it was criminal. He regrets that he made a very bad bet about the likelihood of getting caught. But he is not going to admit a thing, as is ...

  A satoshi is the smallest unit of a bitcoin .  It equals one-hundred-millionth of a bitcoin or 0.00000001 BTC . As such, one bitcoin equals 100 million satoshi.  The satoshi was named as an homage to the anonymous creator or creators behind  Bitcoin , Satoshi Nakamoto.  The satoshi is often abbreviated as sat. 1 satoshi = 0.00000001 BTC It’s necessary for a currency to be able to be divided into smaller subdivisions if it aims to act as a global medium of exchange.  Fiat currencies can be divided into smaller denominations, such as the penny for the British pound or the cent for the US dollar.  Bitcoin, as a digital currency, can also be divided into smaller denominations. As defined by the Bitcoin protocol, a single bitcoin can’t be divided further than 1 satoshi.  All amounts on the blockchain are denominated in satoshi but are typically converted to bitcoin by most platforms.  However, when considering small fractions...

The crypto market offers a wide range of digital assets to invest in. While industry pioneers like Bitcoin and Ethereum seem appealing, their high prices make them difficult buys for many. Fortunately, there are cheap cryptocurrencies with amazing growth potential that investors can consider buying. Three such digital assets that seem poised for massive rallies in 2024 are Solana (SOL), Retik Finance (RETIK), and Shiba Inu (SHIB) .  Solana (SOL) - The Fast and Scalable Layer 1 Solana has become one of the most popular layer 1 blockchain networks in a short time. Despite criticism about its centralization and outages, Solana keeps expanding and cementing its place in crypto. It currently powers over 400 projects across DeFi, NFTs, Web3, and more. Solana (SOL), its native token, facilitates transactions, operations, and governance on the network. Solana (SOL) is currently trading around $101, which is still a long way from its all-time high of $260 in November 2021. However, consi...

  The Terra Luna Classic community has passed another key proposal as they prepare for a revival of Terra Luna Classic (LUNC) and repeg USTC stablecoin to $1.  The proposal aimed at having a guideline for a pay-per-job approach on the Terra Classic chain as core developer L1TF goes into maintenance mode for Q4. Meanwhile, the community is also collaborating on other fronts to keep LUNC and USTC above key support levels as traders started booking profits amid the latest pullback in the crypto market. Terra Luna Classic Passes Pay Per Job Proposal Proposal 11889 “Pay-per-job and governance-ruled Job List” has passed successfully. The proposal deemed the monthly model of roadmap and payment planning as suboptimal and plans to switch to a pay-per-job model. The proposal has received 91.99% “Yes” votes, with others mostly voting “Abstain”. The community believes it will optimize compensation structure, provide flexibility and transparency, boost community engagement, and risk miti...

According to CoinDesk, Austria's Raiffeisen Bank International plans to introduce cryptocurrency trading services for retail customers by the end of January 2024.  Initially, the service will be available to customers in Vienna, where the bank is headquartered, in partnership with cryptocurrency exchange Bitpanda.  The two companies signed a letter of intent earlier this year. Curt Chadha, the bank's head of innovation, explained that customers can access BitPanda through the Raiffeisen app on their mobile devices, offering a familiar experience with the same level of security as account-to-account bank transfers.  The bank, which has $215 billion in assets and 7.8 million customers across the European Union and eastern Europe, sees this move as a sign of increasing crypto adoption, especially in areas with clear regulatory guidelines. Chadha stated that the service targets digitally savvy customers who may only want to make small investments, unlike other banks' offerin...

Binance is the safest crypto exchange in the world. Roughly 24 hours following the announcement of a settlement with U.S. officials, Nansen reported Binance’s total holdings increased to more than $65 billion. Blockchain analytics firm Nansen reported that following a settlement for civil and criminal charges against Binance and CEO Changpeng “CZ” Zhao, outflows from the crypto exchange didn’t result in a “mass exodus of funds.” In a Nov. 22 X post, Nansen  said  roughly 24 hours after the United States Department of Justice announced a $4.3-billion settlement with Binance, the exchange has experienced a $956 million net outflow on Ethereum.  However, Binance’s total holdings increased to more than $65 billion. “Withdrawals are continuing, and we’re not seeing a mass exodus of funds,” said Nansen. “ In the past, Binance has processed higher volumes of outflow and negative netflow: Jun 2023 after the SEC sued Binance, December 2022 after insolvency rumors, a...

  How to Buy Bitcoin  Make your new Binance account Start by signing up with your email address or phone number. You must choose a strong password to protect your new account. Binance Sign up You must complete these steps. After this,  Binance  will ask you to enter the verification code sent to your email address. Once you enter the verification code, your account will get registered. Buying Bitcoin Through Debit/Credit Card Click on the ‘Buy Crypto’ button on the top left corner of the website. After this, click on the credit/debit card option. Choose the amount of money you would like to spend, and click on the ‘Buy BTC’ button. If this is your first transaction on  Binance , you will have to go through a verification process before buying anything. A message to complete your identity verification will appear on your screen. Click on the ‘Verify Now’ button. You will get redirected to the verification page.  Binance Verification To verify your identity,...