Crypto Rally led by Korea, Ripple Blasts off, IRS tracking Bitcoin
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What’s up everyone welcome back to mining daily today we start off with a market recap first of all followed by rip holes explosive proof due to korean trading talked a little bit about the power of the korean market right now then of course some interesting news with the IRS the IRS has actually been tracking Bitcoin which analysis since 2015 so hmm we also have Walmart and IBM they’re trying to form this blockchain to fight food poisoning next up this thing on that’s going on right now the Segway 2x debate Bitcoin side and Bitcoin cash I do want to talk a little bit more about that followed by China spotlight which relates to this which is that people are asking why isn’t signal X happening yet why are we waiting until November for it and finally it’s a great time I want to say that this is my personal opinion and not financial advice let’s take a look at the market first of all so we have Bitcoin growing by 9% and I think probably most likely what the case is is that point market took the lowest point yesterday as a point of reference and that’s why we have this enormous 9% growth so not only are we gaining back what we lost from yesterday but we’re also growing slightly as well so we’re now back up to four thousand two hundred and forty eight dollars we also have aetherium going back up three hundred and twenty to be clean cash dropping a little bit around 6% to 666 and we have ripple at 27 cents increasing phenomenally by 52% when talked a little bit about that in a second we have iota and like when both increasing iota increasing a little bit more almost 9% nem holding steady – is up again almost at 300 yet again and neo as $37 so we definitely see this huge increase in cryptocurrency that has been kind of this recovery from the fall of yesterday I do want to mention that of course Manero is still growing after the news that korean exchanges are listing Manero up so it rose almost 60% like you just see this huge wall here and it’s still continuing to grow on Korean fever we also have other cryptocurrencies all growing so it’s pretty much a across-the-board.P
People are definitely chatting about crypto and there’s so much drumming up interest so it’s we’re not certain if this is institutionalized or if it’s a group of people who are very interested in crypto right now next up in terms of taxation taxation has always been an issue with cryptocurrencies because it’s been growing so fast and even the government wants to pass people on this so it turns out that government has actually been using Qian Alice’s which is a way to track and link people to the blockchain so we know that the blockchain provides a bit of anonymity because you can’t really match a Bitcoin wallet address to a person but which renounces you can kind of do that bridging gap and do analysis to figure out who’s controlling the coins so we definitely see that this US government is admitting that they’ve been using Qian Alice’s and – they’re analyzing people and studying the movement of money you know whether that will equate your taxes for people or something more nefarious it’s really up to the government but we do know that even though that cryptocurrencies are anonymous it’s definitely very trackable that’s the whole point of the blockchain you can track you know a big point transaction and the whole history of where that Bitcoin came from so now whilst we do feel like it’s kind of anonymous it definitely is trackable.
Bitcoin or cryptocurrencies in the long game it’s going to be here for channel forever that’s that’s how could the currencies that we’re going to work bitcoins not going to be gone it’s going to be here forever we have to count down for SEC with activation taking place very soon so it’s going to happen in 113 blocks so with almost around 13 to 15 minutes block that’s going to happen in the next day or so so we’re actually going to see segregated witnesses and we’re going to see if that’s going to be safe for use on a network or not we do know that litecoin has adopted sick wait wait wait it does a sec with and now it’s just up to Bitcoin to adopt it and prove that it is safe to use once that is proven we’re going to have cheaper transactions.