Bitcoins correction continues

It seems that every month there is a new regulatory problem that affects Bitcoin negatively. The Reserve Bank of India is ending its relationship with banks, companies and any user who has anything to do with crypto currencies. In addition, taxes must be paid on crypto assets in the US.

Bitcoin code – what’s going on now?

The Bitcoin code on the stock markets has fallen by more than 25 percent compared to last month. There are many reasons for this sustained Bitcoin code correction. The main reason is currently the US tax season.

The tax season in the USA is considered the trigger for this week’s sellout. Tom Lee, head of research at Fundstrat Global Advisors, said US households are likely to owe over $25 billion in capital gains taxes on crypto assets to the Treasury. The US tax deadline is April 17th, which has led to quite strong selling pressure in recent days. Investors have to sell their crypto inventories to pay taxes, so the market naturally has to accept losses.

Bitcoin has fallen more than 70 percent since its all-time high of just under $20,000 in mid-December last year. The total crypto market corrected from a market capitalization of almost 900 billion dollars to about 250 billion dollars.

As already mentioned, the Reserve Bank of India announced last week that regulated financial institutions (banks) are no longer allowed to legally handle crypto currencies.

Crypto currencies were originally created to disrupt centralized banking and state control over a currency. It seems that governments and major banks are beginning to feel disturbed by crypto currencies.

A ray of hope on the Bitcoin profit

ETFs may be authorised to place large amounts of Bitcoin profit in the markets. The remaining months in 2018 will be those of Bitcoin profit. Governments, institutions and central banks will draw up a regulation on how to deal with crypto currencies. The question will also be to what extent the new data protection regulation will affect Bitcoin & Co.

Despite the forthcoming regulations, one should not be pessimistic. Traditional investors such as Soros, Rockefeller and Rothschild want to enter the Bitcoin business. Once the regulatory phase is over, huge capital will flow into the market, as traditional investors will not have to worry about state sanctions.

Bitcoin Scalability Update: SegWit, Transaction Efficiency and Lightning

Bitcoin SegWit transactions now account for over 40 percent of all Bitcoin network activity. Recent statistics show that the introduction of SegWit is experiencing robust growth as large exchanges continue to support the scalability solution.

SegWit enabled the network to quickly reduce a backlog of pending transactions at the beginning of 2018, resulting in a persistently low average confirmation time of around 15 minutes.

Benefits of SegWit and Ethereum code

The SegWit update also enabled the Ethereum code network to make transactions malleable so that features such as the Bitcoin Lightning Network and Atomic Swaps could be implemented on the Bitcoin network and the Ethereum code which is not a scam.

These features increase the usability of the platform by providing users with a reliable mechanism for cost-effective transactions. The result of these changes in Mainnet has resulted in an average transaction fee of under $2 since early March 2018, a significant decline from the record high of $55 in December 2017. Transaction fees may continue to fall as service providers follow the example of major exchanges such as Binance and Coinbase. The following chart shows the average transaction fees of one year.

Xapo, the popular wallet provider, recently announced that they will support SegWit. Xapo’s wallets currently account for approximately seven percent of the total Bitcoin offering worldwide, giving the Swiss company larger deposits than 98 percent of the approximately 5,670 US banks. Xapo’s recent introduction of SegWit will enable significant volumes of Bitcoin transactions to be processed, further reducing costs and network load.

MIT helps bring Bitcoin trader into the future

The MIT Media Lab is a research lab at the Massachusetts Institute of Technology that emerged from MIT’s Architecture Machine Group at the School of Architecture. MIT’s Distributed Technology Initiative research has provided state-of-the-art techniques to further reduce the cost of the Bitcoin trader network. Read more about it: Is The Bitcoin Trader a Scam? Beware, Read our Review First!

An experimental use case for the Lightning Network is used through the functionality of SegWit with smart Contracts to handle millions of transactions.

By providing these smart contracts with trusted data channels (so-called oracels), the team has demonstrated a level of dynamic flexibility that has not been available to the network before. These channels would have the added advantage of allowing large amounts of data to be unloaded from the blockchain, reducing the total amount of work required to process and verify transactions.

Users can obtain data from a variety of external sources without relying on a single trusted party by pulling data from a network of redundant oracles that operate through a data integrity incentive system. Oracles enable dApps to retrieve information such as stock prices, news, and weather from publicly accessible “archives.

Wax Token – The token for online gamers

The Wax Token is to become the decentralized, digital means of payment for trading skins. These skins are digital goods that change the appearance of characters and weapons in online games. What sounds like a silly gimmick has developed into a serious market. That’s why it’s worth taking a look at the wax crypto currency.

Wax Token – What is this Bitcoin revolution?

The Wax Token is not a Bitcoin revolution scam of a trading place where video game skins are traded. These skins include accessories, clothing or weapons with a distinctive look. Players can unlock them by playing and wear the skins to give themselves an individual look. Basically, they are nothing more than branded Bitcoin revolution clothing in video games. Some of the skins are so rare and coveted that a market has developed where they can be sold for hundreds to thousands of dollars, euros, etc.

Token development began because there are only a few, highly centralized markets that offer such skins. This leads to a distorted supply and demand. “Wax” stands for “Worldwide Asset eXchange” and wants to create a decentralized, global list of all offers of these skins and at the same time introduce a payment system with the W/ax token. At the same time, fraud and various security problems should be a thing of the past, as good as possible. The first skins could be traded via the game Team Fortress 2 on the platform Steam. That was such a great success that the concept was soon adopted by other games. The problem for the players was that the money invested in Steam via the skins remained on this platform. Therefore independent platforms developed. Among the largest are OPSkins, which is now also involved in the token development.

ERC20 tokens are coins based on the blockchain of Ethereum

Through the partnership with Bancor Coin seen on, the Wax Wallet will allow you to convert wax tokens against any other type of ERC20 token. ERC20 tokens are coins based on the blockchain of Ethereum. This solves the problem for many gamers that they may not know what to do with the money they have invested in a platform. The purchase and sale of digital goods is simply negotiated by Smart Contracts. The platform is based on the decentralized blockchain, so there are no costs for maintenance and servers, which are then passed on to the players in the form of fees. Buying skins with W/ax tokens, on the other hand, should be comparably cheap, cost low transaction fees and the transactions should take place almost immediately.

TrumpCoin – Who is behind the crypto currency?

The initiator of the TrumpCoin development would rather remain anonymous. He has the user name “Chicken65”, according to his own statement a Scottish music producer from around 40 years. He’s not just a fan of Donald Trump, he says that he doesn’t agree with everyone what the president says about himself. Like many others in the world of crypto currencies, however, he is a friend of free markets and against state regulations. He is most likely to belong to the libertarian spectrum. The decentralized blockchains correspond to his ideals. This is also the case with Trump, who for him is currently the best representative of these liberal values. That’s why he chose the president to decorate the crypto currencies. Meanwhile, a small team has come together to work on the development. It should be noted that neither Trump himself nor anyone in the government has recognized Trump/Coin as some kind of official crypto currency. That was also never the goal of Chicken65.

TrumpCoin – advantages and disadvantages

So far, the political statement of the crypto currency has not only brought advantages to the developer. He has already become a victim of DDoS attacks. Some could give the crypto currency a bad prognosis, simply because of their own political sensitivities and some traders basically refuse to buy. On the other hand, the “MAGA” effect should not be underestimated and the potential behind the president’s supporters. Whether or not these people really belong to the technically affinity group is, however, a legitimate question.

It may seem particularly questionable what to do with the Trump / Coin crypto currency, since he has become president. Is the coin still really up to date, has it not already fulfilled its purpose? The developers don’t think that the stock markets also seem to disagree. The price has developed well and is quite stable, the coin itself is still being traded. Despite everything, the coin is simply a solid crypto currency that does a few things better than Bitcoin, especially in terms of scalability and speed.

TrumpCoin – Course – Development – Forecast

TrumpCoin went public on 1 March 2016 and at that time was still trading below 1 cent per coin. Many crypto currencies began with such low values. In April, the TrumpCoin price gained momentum, the Altcoin cost 1 cent for the first time, 4 cents for a short time and only 1 cent again in May. In the summer months it was well ordered around the rate of the crypto currency, at the beginning of July a coin cost 10 cent for a short time, afterwards the rate remained around 4 cent per coin. The situation was similar in November, with only December 2016 when the coin was quoted at around 5 cents.

When Trump was finally inaugurated in January 2017, this also had a direct effect on the price of the crypto currency. The coin reached up to 50 cents. Towards the end of the month the price calmed down again, in February the coin lost further value, but was still trading much better than in the previous year. In April and May, the price fluctuated between 7 and 5 cents. In the summer months, the crypto currency price remained at around 5 cents per coin, an improvement on the previous year’s levels.

December 2017 was a good month for many crypto currencies and did not have much impact on the Trump Coin price. The price rose to an average of 7 cents and was able to jump over 10 cents for a short time. In January 2018, however, this coin also seemed to be affected by the general hype, the price rose steeply and reached up to 70 cents per coin. The price then fell again and the stock markets calmed down.