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Income Tax Department Conducts Raids At Nine Bitcoin Exchanges Across India

Income Tax Department Conducts Raids At Nine Bitcoin Exchanges Across India

Income Tax department conducts raids at nine Bitcoin exchanges across India Income Tax department conducts raids at nine Bitcoin exchanges across India Nine exchanges were raided under the command of the Bengaluru investigation wing. The RBI says bitcoins are a commodity and not a currency and need to be regulated accordingly. The Reserve Bank of India has also cautioned users of virtual currencies, including bitcoins. Nine exchanges were raided under the command of the Bengaluru investigation wing. The RBI says bitcoins are a commodity and not a currency and need to be regulated accordingly. The Reserve Bank of India has also cautioned users of virtual currencies, including bitcoins. From a cost of Rs 23000 per bitcoin before demonetisation to Rs 10 lakh now. Bitcoins are clearly the currency to vote for as the Income tax is fast realising. But are bitcoins, cryptocurrency of the virtual world, becoming a mode for laundering money. The Income Tax thinks so and on cue raided Bitcoin exchanges across the country on Wednesday. Nine exchanges were raided under the command of the Bengaluru investigation wing. Surveys were conducted in Delhi, Bengaluru, Hyderabad, Kochi and Gurugram, since early morning. The survey is being conducted for "gathering evidence for establishing the identity of investors and traders, transaction undertaken by them, identity of counterparties, related bank accounts used, among others," said Income tax officials. The survey teams, sources said, are armed with various financial data and inputs about the working of these exchanges and this is the first big action against them in the country. Bitcoin, a virtual currency, is not regulated in the country and its circulation has been a cause of concern among central bankers around the world for quite a Continue reading >>

Bitcoin Price Live: Bitcoin Hits New High Will It Smash Through $8000 Today?

Bitcoin Price Live: Bitcoin Hits New High Will It Smash Through $8000 Today?

Bitcoin Price LIVE: Bitcoin hits NEW high will it smash through $8000 TODAY? BITCOIN hit a new record high and almost smashed through the $8,000 barrier earlier today. Here are live updates and the latest news. Bitcoin Price LIVE: Bitcoin to hit NEW high will it smash through $8000 TODAY? The bitcoin rallycontinued today with the cryptocurrency hitting a new high of $7,998, according to CoinDesk. The price of bitcoin fell over the weekend after calling off the SegWit2X software update, which would have caused a fork in the blockchain. On Friday cryptocurrency exchange Coinbase said a "small number of miners" might still go ahead with the fork despite the cancellation. Since January, Bitcoin has soared in value from just below $1,000 to almost $8,000. Here are live updates (All times GMT). Bitcoin price: BTC soars 11 per cent to $7,500 5.16pm: Litecoin founder praises community for rejecting SegWit2X as serious bug comes to light A bug in the controversial SegWit2X was discovered today after a handful of bitcoin traders wen on ahead with it. Jameson Lopp tweeted: "Everyone who was running BTC1 (SegWit2X) nodes just got rekt. They all froze at height 494782 2 blocks before the fork was supposed to happen." Charlie Lee, founder of litecoin, used the opportunity to thank the community for rejecting the software update earlier this month. He said: "Thank God people came to their senses and abandoned SegWit2x last week. Cheers to all the Bitcoin developers for keeping the network safe and secure throughout the years!" Everyone who was running BTC1 (SegWit2X) nodes just got rekt. They all froze at height 494782 - 2 blocks before the fork was supposed to happen. 4.25pm: Leading ATM manufacturer announces support for bitcoin Hyosung, one of the world's biggest ATM producers, ha Continue reading >>

Bitcoin Risks: Bitconnect Shut Down Hurt Crypto Market; Watch Out For Other Scams

Bitcoin Risks: Bitconnect Shut Down Hurt Crypto Market; Watch Out For Other Scams

Bitcoin risks: Bitconnect shut down hurt crypto market; watch out for other scams BusinessToday.in New Delhi Last Updated:January 19, 2018 |13:15 IST While the world has been busy blaming regulatory crackdowns for the bloodbath in the cryptocurrency market, where the price of Bitcoin fell by over 40% within a month, a side-show-the shutting down of Bitconnect on Tuesday-should be of more interest to investors. There's a big lesson here for those looking to make a quick profit by snapping up digital currencies, Bitcoin, Ethereum, Litecoin et al, currently trading at a significant discount. Bitconnect, a popular lending and exchange platform, which entered crypto street in December 2016, boasted a market cap of $2.11 billion at its peak on December 17, 2017. In fact, it was considered one of the year's best performing currencies on CoinMarketCap, a leading global index of digital currency prices. You can guess it its reach from the fact that the website was reportedly translated into several Asian languages, including Hindi. The platform basically asked users to use their Bitcoins to buy BCC, which would then be lent out again to the BCC team with a lock-up of 2-6 months for a guaranteed daily return. But three days ago, the platform suddenly announced that it will close down operations in five days, blaming "bad press", cease and desist orders from the securities regulatory bodies of Texas and North Carolina, and continuous hacker attacks for the move. In the bargain, the price of BitConnect Coin (BCC)-already reeling from broader selloffs in the crypto market since the beginning of the year-further tanked 87% in just one day post the announcement, from around $240 to $32. For all the hype and hoopla around it, it turned out to be nothing more than a Ponzi scheme. "The Continue reading >>

Bitcoin | Latest & Breaking News On Bitcoin | Photos, Videos, Breaking Stories And Articles On Bitcoin - Moneycontrol.com

Bitcoin | Latest & Breaking News On Bitcoin | Photos, Videos, Breaking Stories And Articles On Bitcoin - Moneycontrol.com

Ethereum dropped over 11 percent and Ripple slumped by over 10 percent in last 24 hours and the digital currencies trading at USD 464 and USD 0.57 at the time of reporting The documents talk about a data source which provide the agency with MAC addresses, password hash history, provider users and user sessions The CRIX a Cryptocurrency index for blockchain-based currencies - that tracks 20 cryptocurrencies has slumped over 60% since the first such ban by Facebook came into force on January 30, 2018. The citys two cryptocurrency mining facilities are being allegedly held responsible for this. In its short nine years of existence, bitcoin has seen numerous instances of massive slides eroding investor's money and they coming back to an all time high The ban will come into effect as Google revises its financial services policy to restrict the advertisement of Contracts for Difference, rolling spot forex, and financial spread betting The former NSA expert said that North Korea was obtaining digital currencies either by mining or hacking Don Tapscott feels blockchain is the second era of the Internet. $5 billion lawsuit filed against alleged bitcoin creator The family of Dave Kleiman filed their lawsuit in federal court in Florida against Australian Craig Wright, who claimed in 2016 he was Satoshi Nakamoto. Kleiman's family alleges that the two men jointly owned roughly 1.1 million bitcoins and a company. Bitcoin is a virtual currency created from computer code that allows anonymous transactions and its value has soared since it came into being in 2009. Analysts cited South Korean news agency Yonhap, which reported Choe Heung-sik, governor of the Financial Supervisory Service, as saying that the government will support cryptocurrency trading if normal transactions are made. Continue reading >>

Bitcoin , In Hindi - Ndtv India

Bitcoin , In Hindi - Ndtv India

Business | 6, 2018 09:34 PM IST () . , Business | 3, 2018 06:52 AM IST , . , . () . , - Budget 2018 | 1, 2018 03:25 PM IST . . - . , - 10 File Facts | 29, 2017 09:50 PM IST . 2017 , . . . . . . . . 5 2017 , Zara Hatke | 26, 2017 02:57 PM IST #2017in5words 5 2017 . , Zara Hatke | 20, 2017 02:04 PM IST . . . . World | 15, 2017 08:29 PM IST . 1,00,000 (890 ) . 2017 5 , Zara Hatke | 14, 2017 05:02 PM IST . . 15 Business | 8, 2017 07:05 PM IST 15 14,500 . . 15,000 World | 8, 2017 01:01 AM IST . , 15,242.99 . 6 , Zara Hatke | 30, 2017 04:08 PM IST . , . 36 , Delhi-NCR | 1, 2017 06:06 AM IST . India | 14, 2017 09:47 PM IST , , , . . , 500 () - , . (RBI) 2,500 '' Business | 18, 2017 08:46 AM IST 2,500 . Continue reading >>

Bitcoin Price Watch; Live Trade!

Bitcoin Price Watch; Live Trade!

We are not going to waste any time today and get straight into our bitcoin price analysis for the session early morning on Wednesday. Why? Because the price is currently trading just below one of our key levels and there is a good chance that we will see a near-term break of said level. If we do, we want to be ready to get into the trade as and when it happens as opposed to waiting around to publish this analysis. So, with this noted, lets get things sorted for the session. As ever, before we get started, take a quick look at the chart below to get an idea of where price currently resides and what were focusing on from an intraday perspective as things stand. It is a one-minute candlestick chart and it has our key range overlaid in green. As the chart shows, the range that we have in our crosshairs for today comes in at support to the downside at 2530 and resistance to the upside at 2550. It is the latter of these two levels that we expect to break near term, so we will focus on the upside trade initially and then move on to the alternative short side entry. Specifically, then, if we see price break above resistance, we will enter long towards an immediate upside target of 2590. A stop loss on the position somewhere in the region of 2540 will ensure we are taken out of the trade in the event of a bias reversal and in turn make sure we dont get caught on the wrong end of an irretrievable loss. Looking short, a close below support will have us in towards a downside target of 2504. Again we need a stop loss on this one and somewhere in the region of 2540 looks to work pretty well on the position. Continue reading >>

Bitcoin

Bitcoin

Bitcoin: Is it really ripe for a Greek rally? Not everyone is convinced by bitcoin's value with venture capitalists telling CNBC that there is little worth in the digital currency. The bitcoin community has a communication problem. "Fast Money" regular Brian Kelly explains the flaw with bitcoin and what the fix is. The price of the controversial crypto-currency is now being tracked by Bloomberg. The block-chain protocol ensures that all bitcoin transactions are recorded on a public ledger. What if we built something similar for equity trading? Stung bitcoin investors plan Mt.Gox resurrection Investors from the U.S. and Canada have agreed to back a plan to buy embattled bitcoin exchange Mt.Gox in the hope of clawing back their losses. Bitcoin price slips as China steps up regulation Bitcoin's price lost 14 percent over the weekend as BTC China confirmed that transactions have been affected by a clampdown from the Chinese government. Barry Silbert, Founder & CEO of SecondMarket, explains the firm's decision to launch a bitcoin investment trust. There's certainly no shortage of alternate digital currenciesNamecoin, Litecoin and Dogecoin. But bitcoin is by far the most popular and widely used. Click here to watch the new digital documentary on the virtual currency that captured the market's imagination. Within the bitcoin uprising, there is a battle for the hearts of the early bitcoin adopters. CNBC's Mary Thompson provides a preview of tonight's CNBC digital documentary, "The Bitcoin Uprising." Thompson goes deep behind the scenes to get a look at how the digital currency works. Bitcoin having trouble shedding its dark side Bitcoin's grabbed headlines as much for its price as for its link to the online underworld and crimes including fraud, Ponzi schemes and theft. Inside Continue reading >>

Bitcoin Price - Latest Updates: Leading Cryptocurrency Fights Back After Slump

Bitcoin Price - Latest Updates: Leading Cryptocurrency Fights Back After Slump

Bitcoin price - latest updates: Leading cryptocurrency fights back after slump What is bitcoin, where can you use it and is it worth investing? The value of bitcoin skyrocketed in late 2017and its rapid rise generated huge amounts of interest in it and the 1,567other varietiesof cryptocurrency available online. Designed by Pierpaolo Lazzarini from Italian company Jet Capsule. The I.F.O. is fuelled by eight electric engines, which is able to push the flying object to an estimated top speed of about 120mph. A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea The giant human-like robot bears a striking resemblance to the military robots starring in the movie 'Avatar' and is claimed as a world first by its creators from a South Korean robotic company Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China A test line of a new energy suspensio Continue reading >>

Bitcoin Live News: Latest Price As Bitcoin Cash Fluctuates After Cryptocurrency Fork

Bitcoin Live News: Latest Price As Bitcoin Cash Fluctuates After Cryptocurrency Fork

Amid concerns over trading choas and the impact on bitcoins price, here is a look at the latest bitcoin and bitcoin cash prices and breaking news. WHAT IS THE BITCOIN FORK? 10.20pm BST:We're back up to $388.69. It's been an erratic day but it looks like Bitcoin cash is going to end the day higher than it finished yesterday. 8.51pm BST:The value of Bitcoin cash continues to drop this evening, down to $313.56 as we approach 9pm. According to CoinMarketCap,bitcoin cash is worth$475.62as of 5.26pm. Bitcoin opened at $2,735.59 today. Today'shigh is $2,755.54and today'slow is $2,703.73. 1.30pm BST: Bitcoin cash dominates the market On what is essentially its first day on the markets, BCH has already risen to be the third most valuable cryptocurrency under bitcoin and ethereum. Bitcoin had a market cap of over $10 billion as of 1.30pm on CoinMarketCap. In terms of current price, BCH is valued at $641.30 nearly three times the $222.14 value of Ethereum. As bitcoin cash continues to grow in value, find out all you need to know about the new currency here. WHAT IS BITCOIN CASH? Bitcoin prices latest: BCH has the third highest market cap in its first 24 hours of trading Bitcoin cash: This is the latest bitcoin cash futures graph as of 8.20am on August 2 4am BST:CoinDesk, who track bitcoin's value, said: With exchanges listing the coin and newly-found Bitcoin Cash owners taking control of their assets, one of the big questions will be what happens with the price of the digital asset. One prospect that does seem likely: a sea-change in the tenor of the years-long scaling debate, the disagreements over which arguably led to the events of today. When it comes to bigger blocks or a more nuanced approach it seems it's now up to the market to decide. Bitcoin price latest: This is the la Continue reading >>

Bitcoin: Why Cryptocurrencies Lost Nearly 30% In Two Days | Fortune

Bitcoin: Why Cryptocurrencies Lost Nearly 30% In Two Days | Fortune

Get Data Sheet , Fortunes technology newsletter. A look at history suggests even that might not be the floor. The cryptocurrency rally of the last six months is strongly reminiscent of a Bitcoin bump that unfolded from October to December of 2013, when the price skyrocketed from under $130 to over $1100. That was followed not just by a correction, but by a long, slow decline that had prices pared back to just over $200 within a year, followed by two years of steady, but slow, growth. Its unlikely that the same precise pattern will repeat itself, mostly because the ecosystem of startups and services surrounding cryptocurrency is vastly more robust now than it was four years ago. But a vital lesson still holds: cryptocurrency prices are volatile because very few speculators actually understand the technology or its potential, leaving it vulnerable to reactive, emotion-driven swings. For proof, just look at how closely various cryptocurrency tokens prices are tracking each other, regardless of their often very different realities on the ground. Bitcoin is the first and most basic form of cryptocurrency, with a lot of adoption and stability, but relatively few features. Ethereum is a robust smart system that is already being widely adopted for building complex data-sharing applications. And Ripple is a mostly privately-held solution focused on interbank transfers. Yet the three tokens charts for the last few months are remarkably similar. That suggests very little close analysis by those buying into cryptocurrency (and likely a lot of purely algorithmic trading). The fundamental reason for these massive price swings is that the promise of blockchain tech is simultaneously so profound and yet so far from fruition. Even if one accepts the idea that blockchains will someday u Continue reading >>

Bitcoin, Ethereum And Almost Every Other Cryptocurrency Is Plunging

Bitcoin, Ethereum And Almost Every Other Cryptocurrency Is Plunging

Look away now if you own bitcoin or other cryptocurrencies. This wont be breaking news to you if you are invested, but today has seen the entire crypto market fall by double-digit percentages. The price of bitcoin slumped by 15 percent to drop below $12,000 for the first time since December 4. Ethereum, meanwhile, fell by over 20 percent to hover above $1,000 and Ripple is down 33 percent to $1.23 at the time of writing. The price drop is having a huge impact. According to Coinmarketcap.com , a site that is quickly becoming the go-to price checker, just one of the top 100 highest valued cryptocurrencies isnt in the red over the past 24 hours. Thats Tether. Its a far cry from when bitcoin hit a record of close to $20,000 exactly a month ago on December 16. Despite the drop, Ethereum, Ripple and the rest of the alt coins have largely fared worse than bitcoin. Finally, a little green ink at number 25 Like all things crypto price related, it isnt clear what is driving the changes. A Bloomberg report yesterday suggested that China is preparing to block domestic internet users accessing international bitcoin exchanges. The country banned Chinese exchanges and ICOs last year. Last week, it emerged that the central government is working to drive out Chinas bitcoin miners, who are thought to account for the majority on the planet. Many of the bigger names are already expanding overseas in preparation but the news jolted the market. Theres also been plenty of speculation around Koreas plans to regulate crypto, although the government has since clarified it doesnt plan an all-out ban on bitcoin and crypto trading. Crypto being crypto, there are some alternative theories, too. Weve been here before, of course the headline to this story may seem familiar. The crypto market suffered Continue reading >>

Bitcoin: Latest Bitcoin Breaking News, Trends, Photos And Videos Online | Hindustan Times

Bitcoin: Latest Bitcoin Breaking News, Trends, Photos And Videos Online | Hindustan Times

Bitcoin hovers around $8,000 after Twitter bans ICO ads Since reaching a peak of almost $20,000 in mid-December at the height of the cryptocurrency frenzy, Bitcoin has lost more than half of its value as investors weigh the future of the nascent industry amid intensifying scrutiny. read more Nelson Mandelas solid gold hand casts sell for $10 million, but in Bitcoin Attempts by Malcolm Duncan, formerly of South Africa, to sell the hands back in 2007 were scuppered by controversy over provenance and a possible missing charitable donation. This time hes had better luck, albeit with an unusual buyer. read more Dark net, bitcoin being used to smuggle drugs: Report The purchasing of drugs via the Internet, particularly the dark net and through cryptocurrencies like bitcoin have increased in recent years read more Googles ban on cryptocurrency ads puts Twitter CEO Jack Dorsey in awkward spot Twitter is under pressure to follow Facebook and the search giant and crack down on misleading ads for potentially loss-making products. read more Google to ban ads promoting cryptocurrency, initial coin offerings in June Facebook, Googles primary rival for ad dollars, had already banned advertisements for cryptocurrencies in January. read more HDFC Bank blocks all its cards from being used to buy or trade cryptocurrencies The move comes after multiple warnings by the RBI and the finance ministry on the non-fiat virtual currencies. read more Blockchain smart contracts can change how SMEs conduct businesses: Report Smart contracts distributed through blockchain is expected to make delayed payment and unilateral changing of a deal a thing of the past. read more Coincheck to start paying back victims of $500 million heist The hackers, who gained entry into Coinchecks systems using malware on Continue reading >>

Latest News Today - Latest Bitcoin News,price,sebi Bitcoin,tax On Bitcoin, Rbi Rs 2000 Notes Holding

Latest News Today - Latest Bitcoin News,price,sebi Bitcoin,tax On Bitcoin, Rbi Rs 2000 Notes Holding

Latest News Today - Latest Bitcoin News,Price,SEBI Bitcoin,Tax on Bitcoin, RBI rs 2000 notes holding Latest News Today - Latest Bitcoin News today, Bitcoin Price,SEBI chairman Ajay Tyagi on Bitcoin,Tax on Bitcoin Earnings, RBI new rs 2000 notes holding. Breaking news in hindi. 1. Sebi says bitcoins can't be ignored - Times of India Currently, bitcoins and any such crypto currencies, are not an approved product by the Reserve Bank or any other regulator. 2. Reserve Bank of India (RBI) can withdraw notes of Rs 2,000 from circulation. In a research report of SBI, giving similar indication, it was said that the RBI can stop the notes of Rs 2,000 or stop printing of this high denominational currency. - Dainik Bhaskar News. 3. Tax on Bitcoin Earnings - How are Bitcoin profits taxed? 5. Tax Notices To Be Sent To High Networth Bitcoin Traders Tax department is set to issue notices to 4 to 5 lakh high networth individuals across the country who trade on the exchanges of this unregulated virtual currency. NDTV Reports. Like us on facebook: facebook.com/My-Smart-Guide-265404713919062/ For the latest tech news and reviews, follow, LIKE, SHARE and SUBSCRIBE. You can send your opinion via the comment box or e-mail : [email protected] Do you have a question about this video that you'd like us to answer? Tell us in the comments section below. Continue reading >>

Bitcoin - Wikipedia

Bitcoin - Wikipedia

Unspent outputs of transactions denominated in any multiple of satoshis [3] :ch. 5 12.5 bitcoins per block (approximately every ten minutes) until mid 2020, [7] and then afterwards 6.25 bitcoins per block for 4 years until next halving. This halving continues until 2110–40, when 21 million bitcoins will have been issued. ^ The symbol was encoded in Unicode version 10.0 at position U+20BF ₿ BITCOIN SIGN in the Currency Symbols block in June 2017. [2] Bitcoin is a worldwide cryptocurrency and digital payment system [8] :3 called the first decentralized digital currency , as the system works without a central repository or single administrator. [8] :1 [9] It was invented by an unknown person or group of people under the name Satoshi Nakamoto [10] and released as open-source software in 2009. [11] The system is peer-to-peer , and transactions take place between users directly, without an intermediary. [8] :4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain . Bitcoins are created as a reward for a process known as mining . They can be exchanged for other currencies, [12] products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. [13] Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. [14] The word bitcoin first occurred and was defined in the white paper [15] that was published on 31 October 2008. [16] It is a compound of the words bit and coin . [17] The white paper frequently uses the shorter coin. [15] There is no uniform convention for bitcoin capitalization. Some sources use Bitcoin, capitalized, to Continue reading >>

The Indian Wedding That Bet On Bitcoin

The Indian Wedding That Bet On Bitcoin

These are external links and will open in a new window Image caption Prashant Sharma and Niti Shree received Bitcoin as a wedding gift from nearly all their guests When Prashant Sharma and Niti Shree were planning to marry, they decided to ask for something unusual as a wedding present - the cryptocurrency, Bitcoin. The couple, who live in the south Indian city of Bangalore, are founders of a digital start-up and many of their friends also work for technology companies. "So we thought of merging technology with gifting for the future," said Mr Sharma. "We explained it to our parents and they were very receptive." The wedding took place on 9 December, just four days after India's central bank issued its third warning cautioning investors against buying Bitcoins. But that didn't seem to discourage their friends and family. There are two key traits of Bitcoin: it is digital and it is seen as an alternative currency. Unlike the notes or coins in your pocket, it largely exists online. Secondly, Bitcoin is not printed by governments or traditional banks. A small but growing number of businesses, including Expedia and Microsoft, accept Bitcoins - which work like virtual tokens. However, the vast majority of users now buy and sell them as a financial investment. Only 15 of the nearly 200 wedding guests gave the happy couple "traditional gifts". Mr Sharma estimates they received Bitcoin worth 100,000 rupees ($1,559; 1,169). "The concept is good," said one relative who gifted them Bitcoin but did not wish to reveal his name. "I am sure its acceptance will improve though many governments may not like it now." "Prashant and Niti did not decide on Bitcoin as a gift in the last couple of weeks," said Ravi Shankar, another guest. "It was planned a couple of months ago." The recent su Continue reading >>

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