🗞 Daily Crypto News, January, 20th💰

8 months ago
5 Min Read
959 Words

  • Peter Schiff Lost His Bitcoin, Claims Owning Crypto Was a ‘Bad Idea’;
  • Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue;
  • South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies;
  • How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight?;
  • Are Attacks Between Rival Blockchains About to Rise? ;
  • 🗞 Daily Crypto News, January, 20th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Peter Schiff Lost His Bitcoin, Claims Owning Crypto Was a ‘Bad Idea’

On Jan. 19, famous crypto skeptic and gold bug Peter Schiff claimed on Twitter that he has lost access to his Bitcoin wallet and that his password is no longer valid.

Schiff added that his BTC is now intrinsically worthless and has no market value. He also added that:

“I knew owning Bitcoin was a bad idea, I just never realized it was this bad!”

🗞 Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue

China-based RenrenBit, a peer-to-peer cryptocurrency lending and wallet startup, has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019.

The startup, founded by well-known Chinese over-the-counter trader Zhao Dong, who's also an investor in Bitfinex and Binance, published an unaudited income statement on Monday as part of its commitment to revealing financial data when it raised $21 million in a token sale last year.

In addition, the 35-member team posted an unaudited balance sheet that shows, as of Dec. 31, it was holding about $168 million of customer assets in its wallets, which accounted for 70 percent of its liability.

🗞 South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies

South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions.

According to a report published by local English-language news outlet The Korea Times on Jan. 20, the ministry had reportedly ordered its income office to review cryptocurrency taxation. The Korea Times cited an anonymous official who reportedly said that the ministry has not finalized its plan, but noted that the government may impose a 20% tax on crypto income.

News of the proposed rate follows reports earlier this month that South Korea is drafting a tax regime for profits made from trading cryptocurrencies.

🗞 How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight?

Co-founder Ketuan “Micree” Zhan was stripped of his director role at not only Beijing Bitmain Technology, but the cryptocurrency miner maker's parent entity, BitMain Technologies Holding Company, corporate records show.

A filing of the Cayman Islands–incorporated holding company, submitted Dec. 10, reveals that Zhan’s role as a board director was “ceased” on Oct. 30. That was one day after rival co-founder Jihan Wu returned to the company’s Beijing office and announced the seeming conclusion to a long-running power struggle.

The takeover may have lasting effects on the world’s largest bitcoin miner maker, which is reportedly filing for an IPO in the U.S.

🗞 Are Attacks Between Rival Blockchains About to Rise?

We’ve been given a distorted view of how much rival chains 'hate' each other.
"Rivalry is not a motivation for attack."
"The biggest concern is the management of sensitive information regarding vulnerabilities."

It's no secret that rival blockchain networks, or to be more precise, the people behind the projects, don't like each other. The Bitcoin community rags on Ethereum, while the EOS community rags on Tron, and so on, in a seemingly endless chain of barbs, criticisms and mockery.

But does the war of words between cryptos ever spill over into something more aggressive and destructive? Possibly, if previous attacks on the likes of Verge and IOTA were the responsibility of rival developers, rather than random hackers.

🗞 Daily Crypto News, January, 20th💰

  • Next.exchange (NEXT)

The NEXT ERC20 to NEXT.chain Swap is being extended to January 20th.

  • Experty (EXY)

"Experty Airdrop is worth 100,000 EXY tokens in total (~$1,600) which will be distributed among all participants."

  • Fetch.ai (FET)

"The first bidding phase of the new decade will take place between 1pm-4pm UTC on Monday 20 January."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

So after a very nice UP break Out yesterday, we are today consolidating a little bit hard due to the correction which is taking place on the BTC. Till now the drop is stopped by the MMA13 (mobile average line in green). It is a common level to do a consolidation after a break out so let's see if it can hold us or if we want go lower.

Last Updates

* [🗞 Daily Crypto News, January, 19th💰](https://steemit.com/bitcoin/@vlemon/4hwfsv-daily-crypto-news-january-19th) * [🗞 Daily Crypto News, January, 18th💰](https://steemit.com/steem/@vlemon/5r9upp-daily-crypto-news-january-18th) * [🗞 Daily Crypto News, January, 17th💰](https://steemit.com/hive-167922/@vlemon/4ifwue-daily-crypto-news-january-17th) * [🗞 Daily Crypto News, January, 16th💰](https://steemit.com/bitcoin/@vlemon/5npcxh-daily-crypto-news-january-16th) * [🗞 Daily Crypto News, January, 15th💰](https://steemit.com/bitcoin/@vlemon/ewnty-daily-crypto-news-january-15th) * [🗞 Daily Crypto News, January, 14th💰](https://steemit.com/bitcoin/@vlemon/537es1-daily-crypto-news-january-14th) * [🗞 Daily Crypto News, January, 13th💰](https://steemit.com/bitcoin/@vlemon/4gisu2-daily-crypto-news-january-13th) * [🗞 Daily Crypto News, January, 10th💰](https://steemit.com/bitcoin/@vlemon/4bu78c-daily-crypto-news-january-10th) * [🗞 Daily Crypto News, January, 9th💰](https://steemit.com/bitcoin/@vlemon/4baav4-daily-crypto-news-january-9th) * [🗞 Daily Crypto News, January, 8th💰](https://steemit.com/bitcoin/@vlemon/3af83p-daily-crypto-news-january-8th) * [🗞 Daily Crypto News, January, 7th💰](https://steemit.com/bitcoin/@vlemon/47kact-daily-crypto-news-january-7th) * [🗞 Daily Crypto News, January, 6th💰](https://steemit.com/bitcoin/@vlemon/4nc1wf-daily-crypto-news-january-6th) * [🗞 Daily Crypto News, January, 5th💰](https://steemit.com/bitcoin/@vlemon/gfmwz-daily-crypto-news-january-5th) * [🗞 Daily Crypto News, January, 4th💰](https://steemit.com/bitcoin/@vlemon/58rpcx-daily-crypto-news-january-4th) * [🗞 Daily Crypto News, January, 3rd💰](https://steemit.com/bitcoin/@vlemon/7q3k5f-daily-crypto-news-january-3rd) * [🗞 Daily Crypto News, January, 2nd💰](https://steemit.com/bitcoin/@vlemon/6xyscq-daily-crypto-news-january-2nd) * [🗞 Daily Crypto News, January, 1st💰](https://steemit.com/bitcoin/@vlemon/daily-crypto-news-january-1st)

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