Thursday events: Western Union is testing Ripple; small part of US citizens identifies with crypto currency; the Programmer is Etherum, citing concerns criminal; Formal and informal actions of the investment giants; the Bitcoin Price breaks through the resistance line.
• Western Union is testing Ripple:
The financial services provider Western Union is testing transactions using the settlement system based on the Blockchain – Ripple’s – XRP. This message was conveyed to chief financial officer, Raj Agrawal.
The world known company Western Union has confirmed that it is testing Ripple, after more than a month of hot gossip and speculation, which began in early January of this year. The announcement came after Western Union reported their results in 2017, receiving $ 1.4 billion, which means an increase of 5 percent compared to the previous year.
As said Ripple CEO, Brad Garlinghouse, WU decided to test its platform, to facilitate remittances, in particular, cross-border. Garlinghouse explained his choice, claiming that Ripple allows for transactions «a thousand times faster and a thousand times cheaper from the transaction Bitcoinem».
We are looking into the Future, in particular in the field of optimization of calculations and working capital (…) We have some tests with Ripple.
said CEO of Western Union, Hikmet Ersek.
Ripple is based on the Blockchain Protocol billing and cryptocurrency, which made up almost half of the market capitalization of Bitcoin in early January 2018., when its value rose by more than 3. dollars per unit. However, in mid-January, the price of XRP has fallen to just over 1. dollar.
Yesterday we reported on the partnership signed Ripple and Arabia Monetary Authority (SAMA) to ensure that technologies for cross-border payments for banks in the Kingdom of Saudi Arabia (KSA).
• A small part of US citizens identifies with crypto currency:
Less than 100. on 250.000. citizens, that is 0.04 percent, which to date have filed their Federal tax returns using the personal Finance service Credit Karma, reported on the operation kryptowalutowe for the us tax administration (IRS).
CEO of Credit Karma Tax, Jagjit Chawla, said that the company was not surprised by such a small number of evidence that take into account kryptowalutowaluty, because the citizens about the more complex situations of tax, as a rule, have, as a rule, for filing in a later tax period. Chawla adds, however, that, given the rise in popularity of crypto currency in 2017, the company oczekiwałaby feed more people.
The IRS, which began to provide guidance regarding the taxation of Bitcoins in March 2014, treat the cryptocurrency as property. In this connection tax inspection considers, buy, sale, trade and mining on crypto currency for actions that are subject to taxation.
An independent trader of digital currency, Brandon Williams, said that for him it would be wise to consider kryptowaluty as currency, because property almost odstraszająca in the quest for General acceptance. According to Williams, a small amount of tax shown on Credit Karma indicates the complexity of the detailed statement of profit and loss kryptowalutowych. He also added that with more than two transactions per day, it takes at least three or four hours every two weeks to lock in the profits and losses from trade, taking into account the volume and volatility of the market.
• The programmer is Etherum, citing concerns criminal:
Yoshie Hirai refused the position of editor Ethereum, citing concerns that the controversial proposal may Institute criminal law. Statement EIP 867 defines the method to best facilitate the return of lost assets on the platform.
Some editors EIP look frivolous legal implications of this project, I warned them, and I am unable to do anything more to warn them… I’m resigning as editor-in-chief EIP.
– writes the developer.
Writing your comments, Hirai said that the EIP could violate Japanese law under the name of «Unauthorized Creation of Documentation for Electromagnetic compatibility». There is no doubt that if the proposal is implemented, this process can be seen as a crime. Discusses the law regards fraud, the computer, in particular, illegal data collection «with the purpose of causing unfair Affairs of another person,» says a legal document.
Last week, Hirai has blocked the proposal because of the lack of compatibility with the philosophy of ethereum, a requirement based on the code adoption process, as specified in EIP-1. The developer has retracted these statements, writing:
I was able to ignore my interpretation of» the philosophy of ethereum «, but I can’t ignore the criminal code.
The bill seeks developer Dan Philfer with Musiconomi, publishers ICO, which last year lost 16 475 esters) under the freezing of funds Parity. Offer Philfera caused controversy among developers, and some are called to participate in the discussion. Said that the statement has accelerated efforts to improve the process of making changes to the codes platform.
Before his resignation Hirai was one of six developers of ethereum with the rights to making changes to software on the platform. In his role, he was fruitful as the fact that in the past year exceeds the sum of the contributions of all other editors including having their account 5.219.
• Formal and informal actions of the investment giants:
According to information published by CNBC on Thursday 15. October, the investment Fund of George Soros was the third-largest shareholder pro-kryptowalutowego retail Sales, last year.
According to a statement to the Commission on Securities and exchange Commission (SEC) transmitted on CNBC on Thursday, Soros Fund Management closed 2.472.188 stock Sales through 4. a quarter of 2017. Internet platform Patrick Byrne became the first major Corporation of that type, which accepts Bitcoin for payment in 2014. This practice was continued before the publication in September of a new enterprise on the nature of the transactions.
After the opening partnership with tZero, Argon and RenGen, Sale used a few months by the increase in inventory, while more and more companies have established ties in the Blockchain space. At the same time, Soros, who publicly stated opinion on kryptowaluty and described it as a «typical» bubble», he refused to share Facebook and Google warned against threats to «monopoly» of American giants of the Internet, according to CNBC.
Facebook itself decided on the approach to the phenomenon in the crypto currency a few weeks ago, prohibiting ads related to agriculture because of the so-called «fraudulent marketing methods».
• Bitcoin price breaks the resistance line:
In the last days the market of crypto currency has increased in value by 25.7 billion dollars. Total market capitalization is currently 477,7 billion. The main reason for these increases may be the excess of the cost 9,000 dollars to Bitcoin, and then 10.000, which is reflected in investor sentiment and may indicate a trend reversal from descending to growth. Prices altcoinów also record the increase: Lisk increased the unit value of 12%, Ripple 7.1%, Litecoin 8.1%. The total turnover on the exchange amounted to 24.5 billion dollars.
source: bitcoinist.com, cointelegraph.com, coindesk.com, coinmarketcap.com.