Top five stories from the last week
| Don't Miss The Top Five Stories From The Last Week A Year After $20K, Blockchain Capital Exec Says Investors Will Regret Not Buying In Now
What did he say?
Spencer Bogart, a partner at venture capital firm Blockchain Capital, said, that today's bearish market represents "a fantastic buying opportunity," adding:
"When we look back 24 or even 12 months from now, we're going to say, 'why didn't I buy then?'"
What did he base this on?
Bogart said that "there is absolutely nothing wrong with the [bull] thesis," notwithstanding short-term price weakness, the core characteristics of the technology and concept are still there
Read more here
Sources Say Facebook Is Developing a Cryptocurrency for Use in Whatsapp
Whaatt?
Major social media giant Facebook is reportedly making a cryptocurrency for those using the messaging service WhatsApp
How would it work?
Facebook's token will be used for money transfers made within the app, with the aim to cover the remittances market in India, according to unnamed sources
Read more here
New Report Shows Majority of Bitcoin Trading Pairs on CMC Are Wash Traded
What is this all about?
A report released by the Blockchain Transparency Institute claims that more than 80 percent of the top 25 Bitcoin trading pairs listed on CoinMarketCap are based upon "grossly" inflated false volumes
What is this based on?
The report, which was reportedly compiled by using algorithms to analyze volume data points and order books, found that most of the pairs' actual trading volume is "under 1% of their reported volume of CMC"
Read more here
Blockstream Launches 5th Satellite Streaming Bitcoin Blockchain From Space
What happened?
Blockstream, a blockchain development firm, expanded its satellite service this week with a fifth leased satellite broadcasting the Bitcoin blockchain to all of Earth's major land masses
What is this for?
Blocksteam's BTC space initiative aims to allow crypto users to access the Bitcoin network without access to the internet
Details here
Wall Street Journal Suggests Tax Reduction Method: Sell and Quickly Repurchase BTC
What happened?
The Wall Street Journal published an article this week suggesting that investors should sell and then repurchase their Bitcoin as a strategic move to save on taxes
What is this about?
Since the United States tax authority, the IRS, treats crypto as investment property, crypto investors can potentially save on taxes due to a "quirk" in the law that exempts crypto from so-called "wash sale" rules, which "prohibit capital-loss deductions when investors purchase a security, such as a stock, within 30 days of selling a loser"
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