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When Moon? Not soon according to the talking heads at KPMG. Bitcoin and other cryptocurrencies will require a bit more time before they truly function as a reliable store-of-value. We Ain’t There Yet, Says KPMG Whereas in August, KPMG reported that the blockchain industry was maturing and moving beyond experimentation, the latest study authored by KPMG, says Bitcoin and other cryptocurrencies will require a bit more time before they truly function as a reliable store-of-value. The report, titled Institutionalization of Crypto-assets determined that Bitcoin and other digital assets are not useful as a…

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Bitcoin mining uses a lot of energy to power the processors, which in turn generate a lot of heat. We also use a lot of energy to heat up our living and working environment. If only we could combine… oh, hang on. Heatmine The precise level of harm that bitcoin (BTC) 00 mining exacts on the planet seems to be endlessly debated. Although pretty much everyone can agree there is a benefit in reducing the energy consumption required, whatever that may be. But if that isn’t an option, then there…

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Forks can be beneficial to the cryptocurrency space. This is specifically true when they add desired attributes to underlying cryptocurrencies. In many instances, forks do not bring any benefit but are the result of infighting. Cryptocurrency Chaos: BCHSV and BCHABC Cryptocurrencies dealing with infighting and hash wars should be avoided while coins reaching milestones with tiny market caps should be accumulated. Following this logic, both Bitcoin Cash forks should be sold, while the project YOYO deserves major recognition. YOYO is a HODL, while BCHSV and BCHABC are both immediate FODLs.…

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The U.S. Securities and Exchange Commission (SEC) has settled charges with two initial coin offering issuers. These cases are the commission’s first to impose civil penalties “solely for ICO securities offering registration violations.” Both companies have agreed to refund investors, pay penalties, and register their tokens as securities. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Charges Settled On Friday, Nov. 16, the SEC announced “settled charges against two companies that sold digital tokens in initial coin offerings (ICOs).” The agency explained that Carriereq Inc. (aka Airfox) and Paragon…

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In recent regulatory news, an executive board member of the European Central Bank (ECB) has given a dismissive appraisal of bitcoin and rejected the prospect of central banks issuing state-backed digital currencies in the foreseeable future. In other news, Ripple Labs has moved to consolidate three lawsuits into a single federal suit, while the police have arrested eight individuals in Tokyo who are suspected of involvement in a $68.4 million cryptocurrency pyramid scheme. Also Read: French Financial Regulator Estimates ICOs Have Raised $21.9B Globally ECB Board Member Dismisses Prospect of Central…

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As Venezuela is in the grip of hyperinflation, a large local Wal-Mart-like department store has started to accept bitcoin for goods. Cryptocurrencies: A Viable Alternative More and more are cryptocurrencies establishing themselves as a viable alternative to Venezuela’s redenominated local currency the Sovereign Bolivar. TRAKI, a large local department store, has purportedly started to accept cryptocurrencies. According to a Reddit thread posted by user ImVito, she was able to purchase 884 items of school supplies and clothing with as little as $260 in BTC. Supposedly, the money was donated by…

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The government of Poland recently submitted amended income tax regulations for approval by President Andrzej Duda. The updated framework, which includes provisions referring to cryptocurrencies, is expected to enter into force on Jan. 1, 2019. Also read: Growing Number of Crypto Companies Operating From Belarus Crypto-To-Crypto Transactions Will Not Be Taxed The changes, long-awaited by the Polish crypto-community, address the taxation of cryptocurrency-related income. The amendments follow the temporary suspension earlier this year of a controversial decision to tax all transactions involving digital money, regardless of profit or loss. This attempt…

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Two mining companies with operations in Sweden have reportedly abandoned their facilities in the country’s northernmost county of Norrbotten. One of the companies, U.S. miner NGDC, appears to have suddenly fled from the area, leaving $1.55 million in unpaid electricity bills in its wake. Also Read: Seba Crypto Eyes Swiss Bank License, Independent Reserve Integrates Tax Tool US-Based NGDC Bails on $1.55M Power Bill According to Sveriges Radio, Miami-based NGDC ceased operations in the municipality of Älvsbyn after having its power cut by Swedish electricity supplier Vattenfall. NGDC owes 14 million…

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Coinmine is a new startup that aims to make in-home mining accessible for non-technical users, based in Los Angeles and founded by Farb Nivi and Justin Lambert. The company has reportedly raised about $2 million from VC funds and angel investors such as Coinbase Ventures and Tinder Chief Product Officer Brian Norgard. Also Read: Kucoin Exchange Raises $20 Million in Series A Funding Round $799 Plug and Play Miner Coinmine’s debut device went on sale on Wednesday, featuring a 4 GB AMD RX 570 GPU, Intel Celeron CPU and 8…

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Plans by bitcoin mining equipment manufacturer Canaan to list shares on the Hong Kong stock exchange are now uncertain, as the Chinese company’s application for an initial public offering (IPO) expired on Nov. 14 — exactly six months after it submitted the documents to the Asian bourse. Also Read: Bitcoin ATMs Most Common Scam Payment Method in Australia IPO Will ‘Not Happen’ in 2018 Canaan’s $400 million IPO may “not happen this year as there was no update from the stock exchange for a listing hearing,” according to a report by…

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