INT
Internet Node Token

$0
2022 Jan 19 05:23:05
Today: Open Today's high Today's low
$0.01 $0.01 $0.01
Market Cap
$6,261,650
Volume (24h)
$342,197
Circulating Supply
763,616,000 INT

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Currency news

EOS, LTC, ETC and ETH are just a few of the altcoins that chased after new multi-year highs as layer-1 projects saw an increase in trading volume. ...
An internet startup association in India has asked the government to define cryptocurrencies like Bitcoin as digital assets and not currencies. ...
Data from Glassnode shows that bulls who accumulated during the second half of 2020 are still holding strong, despite a surge in short-term speculation this year. ...
According to professional trader Scott Melker, Ethereum’s “tremendous upside potential” could overshadow Bitcoin this year. Ether (ETH) is likely to outperform Bitcoin (BTC), at least in the short term, said veteran trader Scott Melker in an exclusive interview with Cointelegraph.  >> ZEC/USD >> QTUM/USD >> DASH/USD Alt season is upon us Melker sees this period of Bitcoin’s price consolidation as particularly bullish for the second-largest cryptocurrency, which recently reached new all-time highs. Melker sees Ether’s outstanding performance as the main catalyst of the recent altcoin market bull run. He also revealed he has been largely switching his dollar-cost averaging strategy from Bitcoin to Ether in the last few months, in order to take advantage of Ethereum’s “tremendous upside potential.” “It’s like investing in the internet in the early 1990s to me.” According to Melker, Ether could reach the $10,000 price target by the end of 2021. “I don’t see why that’s crazy. It’s basically just under a 5x from here. [...] Bitcoin did almost three times that last year.” To find out about Melker’s outlook on Ether, XRP and other large-cap altcoins, watch the full interview on our YouTube channel and don’t forget to subscribe! ...
  Without suitable allowances from lawmakers, Bitcoin, like the internet, can be used in ways that could compromise U.S. prowess, says Anthony Pompliano. US must embrace Bitcoin to counter Chinese 'financial attack' — Pomp   ...
Speaking at a Chamber of Digital Commerce panel discussion in late February, City of Miami Mayor Francis Suarez noted that his city’s employees, like others, are worried about the “potential devaluation of the dollar,” so he proposed to the Miami City Commission a resolution to allow “our employees to take a percentage of their salaries in Bitcoin if they so desired.” After all, notes Suarez, “The highest-paid player in the National Football League” — Carolina Panthers offensive tackle Russell Okung — won’t be earning the most because he’s the best player in the NFL but “because he asked for 50% of his salary in Bitcoin.” The mayor’s statement may have been a small bit exaggerated — Okung’s ranking as “one of the highest-salaried NFL players at this moment” depends on the price of Bitcoin, as NBC Sports noted in late February. Technically though, Okung gets paid 100% in U.S. dollars, then half is sent to a custody provider that converts it to BTC. But to Suarez’s larger point, interest in a “crypto wage alternative” seems to be growing. If so, it raises some questions: Why take a salary in Bitcoin when there is almost nothing that you can buy with it? Aren’t there tax implications that still haven’t been sorted out? What about ongoing BTC challenges like volatility and scalability? And if Bitcoin drops 60% or 70%, who is going to want crypto wages then? Meanwhile, one is hard-pressed to find any company outside the cryptoverse that is paying its employees’ wages in Bitcoin or altcoins. As Thomas Hulme, head of the blockchain and crypto-asset team at law firm Mackrell.Solicitors, tells Cointelegraph Magazine: “I have not come across an instance professionally where a company has sought advice to pay employees a salary in whole or in part, in crypto assets.” More employee demand? Still, as Merrick Theobald, vice president of marketing at BitPay — whose BitPay Send platform has a crypto payroll payment option — tells Cointelegraph Magazine: “We are most definitely seeing greater demand from employees to take at least a portion of their salary in Bitcoin.” It’s being driven by the recent surge in BTC prices, he continues, in addition to greater global awareness regarding cryptocurrency generally. “Bitcoin is quickly becoming more mainstream and employees recognize this and want to be a part of this.” Jack Mallers, CEO of Zap — whose Strike application enabled a portion of Russell Okung’s salary to be converted into Bitcoin — tells Cointelegraph Magazine: “We have seen an immense amount of demand. We currently have over 5,000 users on our waitlist to convert a percentage of their direct deposit paychecks into Bitcoin here in the U.S. alone.”  But clearly, obstacles need to be overcome before crypto wages become the rule rather than the exception. Henry Kim, an associate professor at York University’s Schulich School of Business, tells Cointelegraph Magazine that the vast majority of companies don’t have cryptocurrency in their corporate treasuries, so the only salaries or compensation to be paid in Bitcoin, say, are “likely to be idiosyncratic requests from talent” — Okung, for instance. Paul Brody, global blockchain leader at Ernst & Young, when asked if he expects more companies to offer a cryptocurrency salary option soon, opines to Cointelegraph Magazine:  “I think it is unlikely. If you think about what makes sense from a risk management standpoint, having liabilities like your taxes and mortgage in fiat currency — dollars, for example — and getting paid in Bitcoin, for example, is a high risk proposition. A mismatch could lead to big problems, especially if you have a period where cryptocurrencies go down in value relative to fiat currencies.” A more fundamental barrier may simply be corporate convention — i.e., the incumbent payment systems that have been built up over generations. Richard Ainsworth, an adjunct instructor at Boston University School of Law and co-author of the paper “Payroll Tax Compliance and Blockchain,” tells Cointelegraph Magazine that the major payroll companies, like ADP, are still “not thinking about this in a business simplification way.” There is nothing inherently problematic about getting paid in crypto, continues Ainsworth. “Income will be determined at the moment of receipt. Holding the crypto may give you a tax problem when you cash in” though, and the exchange rates from crypto to fiat currency will have to be kept minimal — i.e., “subsidized by the employer.” “It is surely coming” However, Ainsworth expects crypto wages to be commonplace one day, though it might take a while, as is the case with many innovative technologies: “It took 38 years to go from ARPANET [a precursor to the Internet] to Skype. It may take as long for payroll in Bitcoin to arrive, but it is surely coming.” When Ainsworth wrote his paper exactly four years ago, he was looking at crypto wages from a global perspective with a focus on companies with operations around the world and employees being transferred from country to country. One scenario he imagines: “If I had a mortgage on a house in NY, but was going to be stationed in Japan, and then in London for indeterminate periods of time […] I might want my mortgage in NY paid out of my salary, along with some other expenses, but while in Japan (if the company was paying for my housing there), I still might want to get a portion of my pay in Japanese yen (or later in English pounds). Getting paid in crypto would ease that difficulty.” That probably isn’t the typical worker’s dilemma, though — think of Suarez’s Miami city workers. Hulme tells Cointelegraph Magazine that the vast majority of goods and services typically needed by an employee still cannot be purchased in crypto assets, which “means that the majority of employees would likely rather be paid in fiat currency.” There might also be tax implications in places like the United States and the United Kingdom, where Hulme is based, as “This will likely raise issues from a PAYE perspective” — referring to the UK system that collects income tax and national insurance payments from employees — “from a practical point of view and a general tax point of view.” Risks for employees? People need to diversify their financial holdings, suggests Brody, and right now, the only people likely to demand Bitcoin wages are those already invested in crypto. He adds: “Paying people all or most of their pay in a volatile digital asset poses significant risks for employees. The people most likely to take up this offer are also the ones that are most likely to suffer badly if it goes wrong: people working in the crypto-space already.” “I am a good example,” he further explains: “Professionally, I am ‘all in’ on blockchain and digital assets — my job depends entirely on the success of this sector. Throwing in all my other financial assets into the same bucket is very risky, and if things go badly, that would leave me without a backup plan.” Of course, there is no imperative that an employee has to take all their salary in crypto. Okung, for example, will end up having half his NFL salary in Bitcoin, with the other 50% in fiat currency. CoinCorner, a UK-based crypto exchange and wallet provider, has offered its employees a crypto salary option since 2019, and even though all the firm’s employees participate, “Nobody is currently taking 100% of their salary in Bitcoin,” CEO Danny Scott tells Cointelegraph Magazine.  Still, this might not be the best way to think about the matter, suggests Mallers: “The most healthy mental framework is to consider Bitcoin your savings account — money that is intended to be saved and not spent on everyday living.” How much can be safely allotted to a crypto savings plan will differ for each individual. Meanwhile, companies “need to be prioritizing their ability to recruit and retain talent,” Mallers tells Cointelegraph Magazine, adding: “Those that deny their employees ease of use to receive and hold the best performing asset and savings account in human history will have a tough time convincing the most talented people in the world to be employees.” Among the benefits for employees from providing a crypto option, Theobald adds that employees don’t need bank accounts, they enjoy advantages like faster access to funding, “and they receive the exact amount sent at the applicable exchange rate.” How does it work? The logistics don’t seem to be that difficult. CoinCorner, for instance, has held Bitcoin on its balance sheet for many years, which “has made salary payments in Bitcoin fairly straight forward,” Scott tells Cointelegraph Magazine. The firm’s accountant processes everything in British pound sterling from an accounting and tax side, but then the firm converts the required amount of pounds to BTC when making the salary payment. Scott says: “We take the close price for the end of the month and use that to work out the BTC amount. Unfortunately, this part may get more complicated if you do not hold Bitcoin on your balance sheet, as you would need to buy and then use the rate from the time you purchase the Bitcoin.” Nor is Bitcoin the only crypto option offered at CoinCorner: “We support Ethereum (ETH) and Litecoin (LTC) too — but none of our employees have opted for these as of yet,” says Scott. A company using the BitPay Send platform simply deposits fiat into its BitPay merchant account, and BitPay converts the fiat to crypto immediately before fulfilling an employee’s crypto payout request. BitPay also adheres to Anti-Money Laundering, Know Your Customer, Office of Foreign Assets Control and other global regulatory and compliance requirements, Theobald adds. A boon for the gig economy? If a Bitcoin salary option were to become popular, where might it catch on first? “Interest in crypto wages is strong across the globe but we do see higher interest in countries where the local fiat currency is highly volatile,” says Theobald. Interest among firms with cross-border payouts “is also particularly strong, and this is partly driven by the need to make mass payments to the gig economy and affiliate networks” that need to make “payouts anywhere in the world, on any day of the week, and at any time.” From a freelancer’s standpoint, “Online jobs that pay in Bitcoin are a fantastic way to source work from anywhere in the world,” notes LaborX, a freelance jobs platform, especially with the availability now of fully regulated exchanges and wallet services that store crypto securely. ...
Altcoins are witnessing a bout of profit-taking after Bitcoin price failed to push through its $58,300 all-time high this week. Optimism continues to percolate in the cryptocurrency sector on as recent gains in Bitcoin (BTC) have helped push the valuation of the top-ranked cryptocurrency past that of the South Korean won. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin experienced a wave of selling in the early hours that pushed the price to a low of $54,948 before bulls returned to briefly push the price back above $57,000. BTC/USDT 4-hour chart Regardless of Bitcoin price action, institutional investors have consistently expressed their interest in BTC. Today, MicroStrategy announced that it had purchased another 262 BTC at an average price of $57,146, bringing the firm's total holdings to 91,326 BTC. According to David Lifchitz, Chief Investment Officer at ExoAlpha, how the price performs over the next few days will “show if Bitcoin is ready to reach new highs or if a pullback is on its way.” >> MLN/USD >> ZRX/USD >> RIF/USD >> MITH/USD Lifchitz pointed out that the price of BTC was down slightly on Friday after stalling “just a few basis points from its all-time high,” likely due to profit-taking “by those who monetized the 10% gain from $45,000 to $57,000.” Bullish indicators for Bitcoin identified by Lifchitz include interest from institutional dip-buyers around the $45,000 level and the recently passed stimulus package from President Biden that according to him “may go straight into crypto buying.” Lifchitz did concede that despite Bitcoin being price being in a long-term uptrend, there were some reasons for a more bearish outlook for the short term. A few factors to consider are the upcoming U.S. tax season which could prompt some investors to sell some of their holdings as a way to raise cash to pay taxes on profits realized during the 2020 financial year.  Another short-term bearish factor Lifchitz identified was the possible spillover effect that could result from the sale of traditional assets which “are stretched by any measure and may see some profit-taking short term.” Overall, Lifchitz concluded: A sideways consolidation is likely here in the short term before a potential breakout to new ATH if the pullback holds ground as described above. Investors jump headfirst into nonfungible tokens Non-fungible tokens remain the dominant hot topic in the cryptocurrency space following th March 11 record-setting completion of the Beeple NFT auction for more than $69.3 million. Chiliz (CHZ) is the breakout star of the day as $5.55 billion in 24-hour trading volume has lifted the blockchain-based fan engagement platform by 82% to a new all-time high at $0.59. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CHZ on March 10, prior to the recent price rise. The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. Source: Cointelegraph Markets Pro As seen in the cart above, the VORTECS™ score increased from a low of 49 on March 8 to a high of 84 on March 10, roughly 24 hours before the price its 175% rally to a new all-time high over the next two days. Decentralized finance projects have been in a consolidation phase as of late following substantial gains in the first two months of 2021 as top DEXs and DeFi platforms explore options like cross-linked chains and layer 2 solutions as a reprieve from high transaction costs on the Ethereum (ETH) network. Polygon (MATIC) and SKALE (SKL) are two Ethereum scaling solutions that have outperformed their altcoin peers this week after both tokens saw near 100% rallies after listing on Coinbase on March 9. As a whole, the cryptocurrency market has fallen under some pressure as the weekend commences. The pullback is most likely the result of Bitcoin price rejected near its all-time high rather than a sign of a trend change but nevertheless, the majority of the large-cap cryptocurrencies have dropped by 2% to 10%. The overall cryptocurrency market cap now stands at $1.71 trillion and Bitcoin’s dominance rate is 62%. ...
The market may witness flash crashes in the near term, and another March 12 drop is not completely off the map. It is no secret that March 12, 2020, marked one of the darkest days in crypto history. This was the day when Bitcoin (BTC) witnessed one of the largest single-day price dips in its decade-long existence, swooping from $8,000 to a staggering low of $3,600, albeit briefly, just for a matter of minutes.  To put things into perspective, within a span of just 24 hours, over $1 billion worth of BTC longs were liquidated, causing one of the most intense value drops witnessed by the digital market in its brief history. Another way to look at the crash is that during the above-stated time frame, BTC lost nearly 50% of its value, a statistic that is quite striking, to say the least. Also worth noting is the fact that over the course of the same week, Bitcoin and many other cryptocurrencies exhibited an extremely high correlation with the United States stock market, which at the time was seen as a possibility due to the overall drop in investor appetite for high-risk assets, especially as the COVID-19 pandemic was just beginning to rear its ugly head. The steep correction in the U.S. stock market — which saw the Dow Jones Industrial Average dip by 2,300 points — was its worst decline in over 30 years. This correction, coupled with a lack in demand for BTC, resulted in the cryptocurrency’s price first dropping first to around the $5,000 mark and then to around $3,600. Is another crash incoming? To explore the possibility of whether the crypto sector may be on the receiving end of another massive dip sometime this month, Cointelegraph reached out to CryptoYoda, an independent analyst and cryptocurrency expert. In his view, the triangular combination of finite supply, ever-growing demand and highly leveraged trading is a recipe for flash crashes and turbulent volatility, adding: “We will continue to see many temporary crashes along the way, as markets have a way to regulate and balance the intense emotions in both retail and institutional investors and traders. It is just that we never witnessed an experiment on such a tremendous scale involving limited supply in combination with insane demand and explosive tools like leverage that will make this ride rather bumpy.” Hunter Merghart, head of U.S. operations for cryptocurrency exchange Bitstamp, pointed out that even though the structure of the crypto market has evolved dramatically since last March, the possibility of another crash cannot be ruled out entirely. That being said, he stated that the crypto industry is now full of regulated spot trading avenues, derivatives platforms that ensure a high level of liquidity. >> Tư duy phản biện (Critical Thinking) tại GENIUS ENGLISH cực hay >> Miễn phí 200 suất học giúp trẻ biết phát âm tiếng Anh chuẩn - GeniusSpelling >> Ethereum could go to $10K in 2021 and outperform Bitcoin, says veteran trader Furthermore, Merghart believes that when compared to previous years, there are now many more active participants within the global crypto landscape who can help ease out any imbalances if volatility were to suddenly increase overnight for some unforeseen reasons. Anshul Dhir, co-founder and chief operating officer for EasyFi Network — a layer-two DeFi lending protocol for digital assets — pointed out to Cointelegraph that currently, an immense amount of capital has been locked in decentralized finance, and the overall market cap of the crypto industry is more than $1.5 trillion. However, of this figure, Dhir pointed out that the majority of positions are over-leveraged even to the tune of 50x. Things are different this time around, really different While some fears of a possible crypto crash do exist, by and large, the sentiment surrounding the crypto space seems to be much calmer this time around. For example, Chad Steinglass, head of trading for U.S.-based crypto trading platform CrossTower, believes that even though the one-year anniversary of the much dreaded “bottom” is coming up, there is nothing to worry about in regard to such a scenario repeating itself again: “While March of 2020 was a dark time for crypto as it was for all global markets in all assets, it is what came right after that has come to define digital assets. The swift and massive Fed intervention to support liquidity in financial markets was exactly the activity that Nakomoto saw as the writing on the wall after the Great Financial Crisis of 2008 that prompted him (or her) to create Bitcoin in the first place.” He further opined that the Federal Reserve’s response to COVID-19 was the confirmation of the original thesis behind Bitcoin, and it kicked off the bull run that has been ongoing for the last 11 months. Steinglass said that the Fed has shown no signs of tightening its monetary policy, and even Congress, despite partisan gridlock, has shown that it will continue to inject stimulus into the economy until the recession brought on by the coronavirus is fully in the rear-view mirror. Furthermore, with the steady flow of institutional adoption — with a new major traditional asset player announcing its support for digital assets seemingly every other week — it appears as though there will be no serious correction for any reason other than some surprise prohibitive regulations coming from the Treasury or the Securities and Exchange Commission, which, at this point, seems highly unlikely. The only caveat that Steinglass has in relation to his otherwise bullish stance is the possibility of some profit-taking from the U.S.-based investors who may have bought BTC at the bottom and have been waiting to sell until the calendar rolls over for tax purposes. “However, I expect that the volume of BTC that these sellers will look to unload is relatively small in the grand scheme of things,” he added. Daniele Bernardi, founder of PHI Token and Diaman Group, believes that last year’s Bitcoin price drop and the collapse of financial markets all over the world were totally related to the onset of the pandemic. In this regard, he told Cointelegraph that it’s unlikely that such an event will happen again: “Any asset, even gold and commodities, suffered a big drop due to the uncertainty in the development and spread of the pandemic. So, in my view, the movement of Bitcoin was more related to irrational and emotional selling of everything by investors, an effect well known as ‘systematic risk’ rather than Bitcoin itself.” Safe to hold? Though the events of March 12 are etched in everyone’s memory at this point, most technical indicators seem to suggest that the possibility of such a scenario playing out once again seems improbable. In this vein, it is also worth mentioning that many of the coronavirus fears that were running rampant this time last year — and appear to be the primary drivers of the crash — have now largely died out, especially with vaccinations starting to be rolled out on a global scale. If there is one thing that the crypto market has taught its participants over the years, then anything is possible when it comes to this niche. Therefore, any prediction of future price action is nothing more than a very well-educated guess and that any unforeseen global event may reshuffle Bitcoin’s deck to form a completely different narrative ...
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