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Crypto Corner: Market Shrinks Further, BCH Fork Drives Crypto Community Figures into "Enemy" Camps, Galaxy Digital Hires Goldman Sachs Banker, France Moves to Lower Tax Rate on Bitcoin Gains
November 9th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - November 9, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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Crypto Corner: BCH Fork Drives #Crypto Community Figures into "Enemy" Camps, Galaxy Digital Hires Goldman Sachs Banker, France Moves to Lower Tax Rate on #Bitcoin Gains
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Market Shrinks Further, BCH Fork Drives Crypto Community Figures into "Enemy" Camps, Galaxy Digital Hires Goldman Sachs Banker, France Moves to Lower Tax Rate on Bitcoin Gains and Thailand Announces Certification of First ICO Portal
Once again the market is red as most of the top 100 coins listed by market cap have seen a loss in the last 24 hours. Data from CoinMarketCap indicates that the total market capitalization of the crypto market has dropped another $2 billion USD since yesterday and is sitting at $212 billion USD at press time. This makes for a total decline of $9 billion USD since the recent peak of $221 billion USD seen on Wednesday.
Bitcoin Cash (BCH) is scheduled for a hard fork on November 15, which could see it divided into two chains, Bitcoin Cash ABC and Bitcoin Cash SV. Two of the biggest figures in the crypto community, Roger Ver, CEO of Bitcoin.com, and Dr. Craig Wright have clashed over differences emerging from the fork. Ver favours the ABC chain, while Wright is a proponent of SV. In a YouTube video, Ver reads an email sent to him by Wright, wherein Wright tells him: "you are my enemy" and "welcome to bankruptcy".
Bloomberg reports that Mike Novogratz has hired former Goldman Sachs banker Ian Taylor to his crypto investment bank, Galaxy Digital. Taylor will oversee Galaxy Digital Advisors LLC, a unit that advises clients in the blockchain industry.
CCN reports that France's lower house of parliament has backed a proposal from its finance commission that would see taxes on gains from bitcoin transactions brought to the same level as the country's capital gains tax rate. Currently, taxes on bitcoin tend to be 20 percent higher than those on traditional investments.
The Bangkok Post reports that Thailand will likely certify its first ICO portal this month, according to the country's Securities and Exchange Commission (SEC). SEC secretary-general Rapee Sucharitakul said that more certifications will follow, but cautioned against investment, even with certified entities.
"At least one ICO portal will be certified in November, then we can approve each ICO offering, which might start in December."
"We have always warned investors against being persuaded to invest in ICO offerings because they could be scams or they might not have sufficient liquidity to trade."
Sam Mowers, Investorideas
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