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The most hot news circulating at all the major crypto platforms is about Telegram ICO which has hit $1.7 billion according to the public documents shown by the company. It was announced in these documents that the second round of Telegram ICO had just succeeded in raising $850 million. This amount was being attained in a sale that began on March 14.

It was also reported in these documents that a total of 94 investors took part in the above mentioned funding process. Average individual investment was recorded to be $9 million during that funding process. It is also a notable point that the previous funding of Telegram ICO also comprised of $850 million. It had a total number of 81 investors and the average individual investment was $10.5 million at that time. These documents were filed with the US Securities and Exchange Commission.

us securities and exchange commission

Report submitted to SEC

Both the above rounds of investments were being reported to the SEC. The submission of this report took place under Rule 506(c) of Securities Act Regulation D. it must be noted that this rule allows unregistered securities issuers to accumulate an unlimited amount of funds as long as they follow the below mentioned rules:

  • The company raising these funds must file a simple report with the SEC.
  • Such a company must bound its contributions to accredited investors.
  • The investors of such funds must submit a predefined vesting period before they sell their stakes.

Is Telegram ICO Opaque?

Somehow, Telegram ICO has managed to remain transparent during the all that fund raising process and has followed all the rules and regulation. Along with the handling of the ICO, it has also been significantly transparent.

However, it is not clear whether this fundraising success will conclude the firm’s token sale or the company will continue to raise more and more cash for the aforementioned project in the upcoming days.

Aftermaths of Telegraph ICO’s success

No doubt to raise such an amount of funds in such a small span of time is a huge success, it has also scared many big-name investors right away. Even the well known cryptocurrency giant Pantera Capital is among those who are a bit terrified with the success of Telegraph ICO.

It is being expected that Telegram Open Network (TON) will soon be a revolutionary blockchain for the third generation era of crypto investments. The native token of Telegram Open Network is known as the “Gram”. So far TON has a network capacity of processing approximate 1 million transactions per second virtually free of cost.

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Is 2018 Year Of The Exit For Cryptocurrency Hedge Funds?

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Before we come to the point, and talk about the cryptocurrency hedge fund let’s know what actually a hedge fund is:

“It refers to an offshore investment fund, that attracts investment in stocks, property, or other such ventures using credit or borrowed assets. A hedge fund is usually based on a private limited partnership.”

cryptocurrency hedge fund

How did it all start?

The use of hedge funds witnessed a dramatic growth since the start of the 21st century. A hedge fund is usually a basic term used for an investment which is totally partnership based. It is a kind of agreement between two people, one might be a fund organizer or a sort of manager with vast experience, and the other one is an investor investors who acts as a limited partners. These two people pool their expertise and money respectively to form a hedge fund.

The basic purpose of a hedge fund is to purpose is to boost up the investor’s returns and get rid of all sorts of risks involved in the financial venture. Usually hedging tactics are utilized to reduce risk. Since many private hedge fund companies are closely tied to the founder personally, there is always a question about these funds that either they have a market capitalization or not?

What is a Cryptocurrency Hedge Fund?

With the passage of time cryptocurrency has become a popular mode of payment over many online platforms around the globe. It could not even escape the attention of hedge fund managers, Although many financial experts were too slow to recognize cryptocurrencies as a trustworthy area of investment, some hedge fund managers did not miss the chance from making moves in the crypto world. As the interest of investors increased, the launch of crypto based hedge funds also climbed up. The number of cryptocurrency or blockchain based hedge funds swa a continuous increase over the course of 2017.

The year of Exit for Hedge Funds

No doubt the cryptocurrency based hedge funds witnessed a continuous rise during the year 2017, but unfortunately the case is not so in 2018. According to many financial experts it may prove to be the year of exit for that kind of hedge funds. As a proof to that at least nine cryptocurrency based hedge funds have been closed down in the first three months of 2018 which is not an ordinary incident. All this was revealed in a report published by Bloomberg.

 

Crowd Crypto Fund and Alpha Protocol are at the top of this list. Crowd Crypto Fund closed down all of its platforms. Alpha Protocol on the other hand simply announced a refund to its investors which was completed on March 31.

 

But the valid point behind all that discussion is that cryptocurrency based hedge funds are not the only funds that met this fate, the traditional hedge funds which were more firmly established during the past few years also witnessed a visible decrease in interest from investors.

 

Do not forget to comment in the specified section below about this down fall of cryptocurrency based hedge funds.

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Japan to Have One of the Largest Bitcoin Mines in the World

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Presently, a Japanese conglomerate, DMM, had announced the launch of a Virtual Currency Division, which will construct a DMM mining farm. This mining farm is supposed to be the largest in Japan and among the top 10 largest mining pools of the world.

DMM is famous for its e-commerce domain that offers all sorts of e-books, robots and let’s not forget the regular 27 million users.  The company is hoping that their DMM Mining Farm makes the top 10 list of mining pools by 2018.

The cryptocurrency market might be a little shaky in China, but Japan is all in for the digital era. Indeed, Japan is also credible for the global success of cryptocurrency.

 

News Credits: techjuice.pk

Image Credits: bitcoinmining.com

Tags: Best bitcoin miner, japan bitcoin, 

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Bitcoin taxes- another terrifying story

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Currency comes with three faces mainly.

  • A unit of account
  • Store of wealth
  • Means of exchange

Cryptocurrencies around seem to serve the second part only. So, talking about the taxation of these currencies means taxing changes in realized wealth, that is your income tax.

cryptocurrency user

As with more growing acceptability and increasing comfortableness with risks among the regulators, the crypto world is coming out stronger. But IRS has its eye on the crypto investment.

In 2014, IRS issued a legal statement stating that virtual currency will be treated as the capital asset if convertible into cash. Same rules of capital assets loss and gain apply to these digital currencies. Despite these implications, there are very fewer guidelines provided by the authority.

The gaining acceptance of these blockchain-based currencies has attracted many with tales of massive fortunes. Being decentralized and unregulated, these currencies show a great deal of volatility. The currency needs to hold its volatility in order to replace the fiat currency in long terms.

Basics

Running on the system of Blockchains which are decentralized and constantly updated. Despite the extremely complex mechanism, these blockchains are easily verified and are highly encrypted. Due to these features, blockchain has backed many cryptocurrencies including Bitcoin.

A few popular cryptocurrencies include,

  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Monero
  • Dogecoin
  • Dash
  • Tether

All the crypto coins other than Bitcoin are known as altcoins. Perks of being the pioneer, right?

Due to lesser global uniformity and lack of consistency coming with the nature of digital currency, there is a lot of challenges and understanding surrounding the tax regulations of this system. Some basic tax trends to be kept in mind are,

Different rules, different countries

The same basis as traditional businesses rules applies here. As there are different rules for different countries around the world, similarly different tax rules apply to digital currencies taxation around the globe.

If you wish to purchase services or goods using your digital currency, the cryptocurrency used will be written an asset or property. the gain over the currency will be accounted as income subject to tax- for the purchaser. The total value of the transaction is recognized as transaction tax. The seller is bound to collect and remit this value.

Countries like the U.S impose their own set of rules and regulations over tax rates and other categories of goods and services.

From small entrepreneur business planning to global, it can be a great amount of confusion and mayhem for them. In a number of countries, these tax systems are in multiple layers, including taxation for think city, federal and state altogether.

The task is not only to determine the tax payables, the real task will be to figure out the jurisdictions it falls into.

Taxman digitalized

Being a digital currency, the most undertaking is done by the digital goods here. The regulations are being monitored and are coming in shape by the EU and the Organization for Economic Co-operation and Development (OECD).

Taxing majorly base on where the consumer rides. The collection will happen via holding platforms. The tax will be collected and remitted on merchant’s behalf or the tax holder on payments sent to offshore clients.

The anonymity of this crypto nature can be of a great challenge here. There will be minimal information available regarding the receiver or the sender of the transaction.

The government is also working on simplifying this issue. They have introduced guidelines under the title, know-your-client (KYC). Records will be requested through these plans and unwilling or any party unable to disclose their credentials may dwindle.

A global default rule regarding crypto-based businesses may be introduced, accumulating same jurisdictions and rules applied to all.

Tax implied

The tax will be implied specifically in these areas.

  • Trading- it produces capital gain or loses, it has to offset gains and reduce tax.
  • Exchange- exchanging one crypto coin with another creates a taxable event. The token is sold so generates loss or profit.
  • Payment received in Crypto- receivables in exchange for goods or services will be treated as ordinary income.
  • Spending cryptocurrency may gain price during the holding period, subject to capital gain.
  • Conversion to fiat currency
  • Air Drops- income becomes the basis of the coin when sold or exchanged there will be a capital gain.
  • Mining coins

•    Initial coin offerings

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current value of bitcoin

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The rise of Bitcoin continues as It rose to an all-time high on Monday. The current value of bitcoin is around $8,000. It comes after CME’s declaration that it will soon launch Bitcoin trading, and Square uncovering it will pilot Bitcoin deals by means of its Square Cash application. It’s for these reasons that one research firm trusts that Bitcoin’s prosperity has just barely begun.

Ronnie Moas, the author of Standpoint Research, wrote in an answer to customers: ‘There have been numerous positive improvements amid the last five months and a couple of obstacles that were in Bitcoin’s direction have been thumbed down.

An argument can be made that the uplifting news is still not completely reflected in the current value.’ They trust the cost for Bitcoin is set to surge to $14,000. Bitcoin was launched in 2009 by a puzzling software engineer referred to as Satoshi Nakamoto, which is believed to be a pseudonym, who has never given an interview. Bitcoin caught the mainstream financial attention after its value expanded by up to 1,000 percent since the beginning of this year.

At the start of the year, Bitcoin was just trading around $800 per BTC, but the current value of bitcoin has gone past $8000, which is clearly the indication that there’s no stopping this currency.

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ICOs – A Remarkable Figure Despite Challenges, but how?

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successful ICOs

2018 has been a very dramatic period for blockchain and cryptocurrencies from the start. The crypto world has seen a nonstop slump in the price of Bitcoin and other altcoins, as most of the tokens traded below their ICO price, still there’s been no relent in the amount of money that was raised during this time.

Even with the institutional and political struggles that the cryptocurrency ecosystem faced, specifically paying attention to ICOs (Initial Coin Offerings), this steady rising trend raises curiosity.

Quality of ICOs As A Whole

LKI Consulting is a PR firm that has conducted few ICOs especially, in the last couple of months. The founder of LKI Consulting, Laura Kornelija Inamedinova believes that this ICO trend is linked to the upsurge in the quality of ICOs as a whole. Furthermore, Inamedinova explained how time has shown that these features are essential in order to have a successful ICO.

Even though the ICO market has rocketed and noted remarkable facts, still there is a number of projects that haven’t accomplished in attaining there “set out” goal, that makes them unsuccessful.

Why ICOs attract investors from outside the industry?

Founder of Cashaa, Kumar Gaurav believes that the industry must look ahead of the crowdfunding exercise which has been carried out by many projects at this time in terms of ICO. Gaurav’s company dismissed around $14 million of the $33 million that was raised in an ICO due to acquiescence reasons.

Gaurav identified a problem that ICOs attract investors from outside the industry who only take interest in their own profit and not in the technology. Similarly, there are plenty of beginners who are really interested; however, they just started to learn and might be frightened of the market’s volatility.

Gaurav identified another trend, that is the salvaging of investments inside the ecosystem which appears to expand the industry beyond its actual capability. He noted that most of the investors just try to sell older tokens and buy new ones.

Complicated System

Apparently, most of the ICO investors are just speculators for the short-term and this is something that makes it a little bit difficult for project developers and builders in executing their objectives, efficiently. It’s quite common these days to categorize an ICO as successful, depending just on the amount it raised through the crowdfunding process. To avoid being seen as a failure, companies began to set lower goals deliberately. Gaurav further explained that to find out what successful ICO is, we may also need to have a look at what will happen to the company after a year.

 

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