Ron Paul Advocates for Cryptocurrencies to be Tax-Free While Criticizing US Fed

Ron Paul, the Austrian School economist and notable Libertarian who served as a US Representative for over ten years, is now advocating for a tax exemption on cryptocurrencies. He also noted that the issuance of a government-backed digital currency, as opposed to private or decentralized ones, could lead to a “Fed-created recession.”

Paul made these remarks in a recent blog post titled “Trump is Right, the Fed is Crazy,” where he not only criticized the central bank, but also supported cryptocurrencies, explaining that one way to end the “monetary madness” is to stop taxing cryptocurrencies.

He also noted that a so-called Fed-created recession could lead to the end of fiat currency, which is why they should support the use of non-state-backed fiat currencies, and that all cryptocurrency and precious metal-related transactions should be exempt from capital gains taxes.

“It is likely that the next Fed-created recession will come sooner rather than later. This could be the major catastrophe that leads to the end of fiat currency. The only way to avoid crisis is to force Congress to end our monetary madness. The first steps are passing the Audit the Fed bill, allowing people to use alternative currencies, and exempting all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes,” Paul explained.

On the unlikely chance that the government follows Paul’s suggestion and excludes cryptocurrencies from capital tax gains, it would be an incredibly positive development for the industry, as it would further legitimize the markets and encourage traditional investors to enter the markets due to the lack of taxes.

Ron Paul Has a Long-Established Record for Advocating for Cryptocurrencies

Paul has a long-established track record for being an advocate for cryptocurrency, and recently wrote extensively about it in a June post titled “The Dollar Dilemma, Where to From Here?” In this post, Paul notably explained that cryptocurrency, and gold, could play a serious role in restoring citizen’s confidence in currencies and could help re-establish economic order.

In this post, he explained that the markets will easily sort out whether or not cryptocurrencies or precious metals are the answer to a flawed financial system but added that the government’s intervention in the markets will act as the largest barrier.

“The marketplace is quite capable of sorting out the advantages and disadvantages of cryptocurrencies and precious metals. The biggest challenge will be to get the government out of the way to allow this choice,” Paul said.

He further explained that the world may one day see a monetary system based on a mixture of precious metals and cryptocurrencies, each posing certain advantages that account for the other’s disadvantages, saying that:

“It’s conceivable that cryptocurrencies, using blockchain technology, and a gold standard could exist together, rather than posing an either-or choice. Different currencies may be used for certain transactions for efficiency reasons…A combination of gold and crypto will prove to be a lot more achievable than getting people to adapt to a totally new concept of money.”

In 2013, someone created a cryptocurrency called RonPaulCoin to pay tribute to his Libertarian ideals that are often seen as being embodied by decentralized cryptocurrencies.

Featured image from Shutterstock

Crypto Price Tracker Poses Malware Threat for Macs: Report

A cryptocurrency ticker application called CoinTicker appears to be installing two backdoors on Apple Macs, cybersecurity firm Malwarebytes warned Monday.

The app downloads and installs parts of two different pieces of malware – EvilOSX and EggShell – both of which are backdoor applications that can be used to log keystrokes, steal data or execute certain commands. Malwarebytes director of Mac and Mobile Thomas Reed wrote that it is possible the malware was designed to steal cryptocurrency keys.

CoinTicker acts as a legitimate application designed to present the price of a selected cryptocurrency on request. The user installing the app can choose between bitcoin, ethereum, monero, zcash and others, according to a screenshot. However, the app also installs EvilOSX and EggShell in the background.

The app does not require root or other elevated permissions, meaning the user likely will not see any sign of infection.

It’s unclear what specifically the app’s creators want, but Reed noted that “it seems likely that the malware is meant to gain access to users’ cryptocurrency wallets for the purpose of stealing coins.”

The fact that the malware is distributed through a cryptocurrency app supports this theory, he wrote.

Malwarebytes for Mac now looks for the CoinTicker app, as well as its malware components, he added.

MacBook Pro image via blackzheep / Shutterstock

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Creator Of The Ethereum Token Standard Proposes “Reversible ICOs”

Yesterday (Oct 30th) the creator of the Ethereum token standard, ERC-20, presented a proposal for “reversible ICOs.” The presentation was part of Ethereum’s Devcon4, an annual Ethereum developer conference held in Prague, Czech Republic. In his talk, Fabian Vogelstellar proposed a “reversible ICO” or RICO, that would allow token investors to take back their funds at any stage of the project’s lifespan. His hope is that by holding ICOs accountable, this design will “[make] scams unlikely.”

The goal of this would be to make it so that investors have some involvement in the ICO after the ICO is over. Vogelstellar expresses disappointment in ICOs, and says that companies have been spending their time “[buying] lambos rather than doing something useful.”

How Would it Work?

This function could be implemented into any ICO before the ICO begins. ICOs work by building a smart contract on Ethereum that creates tokens for the investors. Once the tokens are created, they can be used by various decentralized apps or smart contracts to interact with the software. The RICO could be easily executed by writing in code that would allow investors to pull their contributions.

Vogelstellar explains: “you are able to withdraw the funds you committed at any point of time and you do this by simply sending back your tokens.”

Vogelstellar continues to explain that although this would help investors, the ICOs themself might need  “base funding” to get them off the the ground. If the ICO is completed and all the investors change their mind, the ICO team could be left with zero funds to develop their project. Therefore, some initial seed round funding might be worthwhile.

ICOs Maturing?

Considering that ICOs raised more than $20B over the past two years, ICOs are no longer a fringe investment class. As the space matures, it’s likely that investors will want more power over their investments. ICOs, in their current form, are unique in that they don’t provide equity or dividends like stocks, and they don’t even give holders voting rights. The reversible ICO could be the first step in the right direction.

Beyond the RICO, there’s been another ICO model suggested that could help clean up the mess. Earlier this year, Ethereum founder Vitalik Buterin proposed “the DAICO” – Decentralized Autonomous ICO. Similar to the RICO, this would allow token holders to vote on funding disbursement. This means that if the ICO team isn’t meeting expectations, holders could slow the disbursement rate of funds to the development team, or even refund themselves.

No matter which model is implemented, both the RICO or DAICO model could help lower the amount of ICO scams that plague the industry.

Facebook is Shutting down Cryptocurrency Startup Ads, but only of Competing Products

On October 30, 2018, Yahoo! Finance reported that Facebook recently banned ads from Bloom, an online identity management service which focuses on online identity protection. According to the report, Facebook said this By merely as the firm was offering deceptive financial services products.

However, Bloom claims that although users can apply for loans using its service, the company doesn’t actually have any financial products to sell. The company believes that this is in part because Bloom competes with Facebook’s identity service “Login.”

Facebook’s Crackdown

In January 2018, Facebook imposed a ban on cryptocurrency-related ads and removed all ads related to. As part of this crackdown, the company removed lots of misleading content including hundreds of pages that were spamming users on Facebook to drive traffic to their websites.

The move was so harsh that there was even collateral damage as Facebook blocked dozens of advertisements for being political. While the company had blocked all ads related to cryptocurrency, it changed its policy to allow ads in June 2018. 

A Facebook representative said:

“While we loosened the policy this summer, it remains restrictive. We will continue to listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time.”

Facebook Trying to “Eliminate Competitors”

Bloom, is a company that is building technology which helps people keep control over their data as they sign into various online services and apps. The company’s co-founder, Jesse Leimgruber believes the ban was due to his company being a direct competitor with Facebook’s own identity management platform, Facebook Login (formerly Facebook Connect).

Leimgruber says the company spent hundreds of thousands of dollars on Facebook ads until suddenly being ads earlier this month. Answering to Bloom, Facebook stressed the company ads were taken out as part of a crackdown on ads that might be financial products and services related to cryptocurrency.

Despite Bloom not having anything to do with cryptocurrencies or financial products or services it uses blockchain technology, and as such the company’s official website contains keywords that are usually associated with these industries. Simply by having words like “Ethereum” and “blockchain,” Facebook ordered the ban.

Bloom Appeals the Ban

Leimgruber said Bloom already appealed to the ban. Recently, Facebook also created its internal blockchain department led by former Facebook Messenger chairmen and PayPal President David Marcus. Up until now, there are no reports to what the company might be planning, but everyone expects to be something very similar to what Bloom is doing. This has led Leimgruber to believe this is a direct attack from Facebook to his company.

Bloom offers a service called BloomID that can be used to sign into apps and online services, with controls over precisely which data the user wants to share. The BloomID app also allows users to apply for loans while Bloom receives affiliate fees when users sign up for a loan. According to Leimgruber, this is a legit business model which has nothing to do with financial services or products.

Leimgruber says that since Aug. 2017, Bloom has spent about $300,000 on Facebook ads and now the company suddenly sees its ads being banned for an absurd reason. Leimgruber thinks this dispute shows how Facebook’s is quietly trying to clean competitor. According to Yahoo, Facebook has been purging pages, accounts, and advertisers in a clean-up effort after more than a year of scandals involving misleading content and the misuse of personal data. Over and all Bloom was just one more company affected by Facebook.

Crypto Investment Firms Advise Buying Smaller Cap Altcoins During Bear Market

Investing in altcoins is less risky than Bitcoin during a bear market, according to crypto investment firms.

New Wave Capital told Yahoo that the altcoins with smaller capitalization have tremendous long-term potential. Bitcoin, according to the San Francisco startup, could have more baggage to carry during the next bull run. Traders might feel confident about spreading their portfolio in assets with the most practical long-term goals in mind. However, the company agreed that Bitcoin is still the most resilient asset during a bear market.

“In a bear market, everyone moves away from altcoins, and they go back to what has been traditionally more resilient, which is bitcoin,” said CEO Eric Campbell. “They think it’s a safer asset. But when we come back to another bull market in the future, we think people will go back to altcoins.”

New Wave currently features a diverse range of altcoins in its investment portfolio, including Etherum, XRP, Bitcoin Cash, Civic, and Litecoin. The list gets assessed every quarter based on a risk survey and algorithm.

Strong Use Cases

While Bitcoin undoubtedly remains the king of cryptos, several altcoin projects have emerged as alternatives to the first digital currency’s technical limitation. Ethereum, for instance, serves the purpose of creating and launching decentralized apps and smart contracts on the top of a public blockchain. Monero, at the same time, offers users with full privacy, something that Bitcoin provides but partially.

Nevertheless, Bitcoin is among the least affected cryptocurrencies during this year’s bearish sentiment. The coin has lost 54 percent of its value compared to its closest alternatives. Ethereum, again, for instance, has dropped 74 percent against the US Dollar this year. XRP is also down 78 percent, alongside Bitcoin Cash and Litecoin with their 82 and 78 percent losses, respectively.

Combined Altcoins Market Cap | Source:

Regardless of their weak yearly performances, these projects serve long-term goals related to blockchain’s integration into mainstream industries. Analysts rest their bullish perspectives about altcoins on a fundamental demand and supply theory. Against a limited supply, the demand for these fractionable value units is likely to go up. XRP, for instance, is proving itself to be a  digital currency for cross-border transactions. It is the coin’s basic use case which, upon more adoption, could yield profits in the long run.

New Wave’s co-founder Albert Cheng thinks it is the prime reason why their advisory firm is looking into more Bitcoin alternatives.

“When a market is bearish, there’s a flight to quality, and that’s bitcoin today,” he told Yahoo. “But our service is intended to drive long-term thinking. And if people are holding their portfolios for a long time, I think it’s prudent to have exposure to multiple coins. True paradigm shifts take a long time.”


Image from Shutterstock

Cardano Price Analysis: ADA/USD Could Accelerate Below $0.070

Key Highlights

  • ADA price declined further and traded below the $0.0700 support area against the US Dollar (tethered).
  • There was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is under pressure and it could accelerate declines below $0.0700 in the near term.

Cardano price remains in a downtrend against the US Dollar and Bitcoin. ADA/USD could continue to move down towards the $0.0650 level if sellers remain in action.

Cardano Price Analysis

In the last analysis, we discussed that cardano price could slide towards the $0.0700 level against the US Dollar. The ADA/USD pair did trade lower and not only tested the $0.0700 level, but surpassed it. The pair traded as low as $0.0691 and it is currently consolidating losses. During the decline, there was a break below the key support near $0.0700 and the 100 hourly simple moving average.

More importantly, there was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair. An initial resistance is the 23.6% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low. If there is an upside move above the $0.0700 level, the broken support at $0.0720 and the 100 hourly SMA could stop upsides. Moreover, the 50% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low is near $0.0722 to prevent gains. Therefore, any major recovery from the current levels could face sellers near $0.0720 or $0.0725.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price is at a risk of more declines as long as it is below $0.0725 and the 100 hourly SMA. If there is a downside break below the recent low, the price may accelerate towards the $0.0670 or $0.0650 level.

Hourly MACD – The MACD for ADA/USD is about to move back in the bearish zone.

Hourly RSI – The RSI for ADA/USD is well below the 50 level.

Major Support Level – $0.0690

Major Resistance Level – $0.0725


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翻译, China’s Largest Retailer, Launches a New Blockchain Research Lab


On Tuesday (30 October 2018),, China’s largest retailer, announced it was launching, in collaboration with the Ying Wu College of Computing at the New Jersey Institute of Technology (NJIT) and the Institute of Software at the Chinese Academy of Sciences (ISCAS), a new blockchain technology research lab.

Beijing-headquartered, Inc. (Chinese: 京东; pinyin: Jīngdōng) says that it sells “everything from imported seafood to household goods and luxury watches to hundreds of millions of Chinese consumers. CEO Liu Qiangdong (also known as Richard Liu) founded the company in June/July 1998 (with the retail platform going online in 2004) “as a tiny offline electronics store.” Today, it is reportedly the third-largest internet company in the world (after Amazon and Alphabet), with a 2017 revenue of $55.7 billion.

The founder’s vision was to provide consumers all over China, including less developed regions, with access to authentic high quality products  Since China did not have adequate logistics and retail infrastructure when Liu started the business, he decided to “build his own network from the ground up”, and that network now “covers 99% of China’s population.” 

Currently, the company has over 150,000 employees, including thousands of engineers and scientists who are working on state-of-the-art technologies such as AI, robotics, drones, and autonomous vehicles.

The joint lab, which that was announced yesterday in Beijing will “focus on solving efficiency and stability challenges that are the most significant bottlenecks restricting the wider application of blockchain, and explore new applications of the technology.” A few examples of the lab’s research interests are “fundamental consensus protocols, privacy protection and security in decentralized applications.” The lab will operate under the direction of Dr. Jian Pei, the president of JD Big Data and Smart Supply Chain, Dr. Qiang Tang, assistant professor in the Ying Wu College of Computing at NJIT, and Dr. Zhenfeng Zhang, vice chief engineer at ISCAS. 

Dr. Pei said:

“ is a pioneer in the utilization of blockchain technology, and we are dedicated to exploring its potential by investing in the growth of the blockchain ecosystem through key strategic and research partnerships. Our partnership with NJIT and ISCAS will leverage our respective strengths and resources to drive the continued development of this cutting-edge technology and its wider deployment across many industries. With more than 300 million customers, recognizes the pivotal role being played by blockchain in improving transparency in the supply chain and delivering greater peace of mind to Chinese consumers about product quality and safety.”

Dr. Joel S. Bloom, the president of NJIT, stated:

“NJIT is delighted to partner with one the leading e-commerce companies in the world and one of China’s premier research labs to work on cutting edge-blockchain and cybersecurity technologies. Working with strong international partners is a clear recipe for success in this endeavor. We look forward to working with JD and ISCAS to develop many different blockchain applications for a wide range of industries.”

And finally, Zhong Hua, the deputy director of the ISCAS, said: “Through this partnership we will bring about blockchain innovation and promote industrial applications of blockchain technology.”

On 17 August 2018, JD launched JD Blockchain Open Platform, “a new blockchain technology platform to help enterprise customers build, host and use their own blockchain applications for more secure, transparent and convenient operations management.” This platform is “built on multiple underlying technologies, and enables customers to create and adjust smart contracts on public and private enterprise clouds with ease.” It is hoped that this technology” can help companies streamline operational procedures such as tracking and tracing the movement of goods and charity donations, authenticity certification, property assessment, transaction settlements, digital copyrights, and enhance productivity.”

Featured Image Courtesy of

Crypto Security Company Ledger Opens Branch in Hong Kong

Crypto hardware wallet firm Ledger has announced it is opening a new branch in Hong Kong, according to a press release shared with Cointelegraph Wednesday, Oct. 31.

One of the leading hardware wallet manufacturers with headquarters in Paris and San Francisco, Ledger also reveals that it has assigned Benjamin Soong as head of the Asia Pacific (APAC), responsible for all Ledger operations held in the region. Soong is a former managing director for U.S. financial analytics corporation S&P Global.

Ledger’s president Pascal Gauthier further explained that Soong will help the company monetize its opportunities in APAC:

“He brings a tremendous amount of experience and expertise in the region, which will help Ledger capitalize on future opportunities. APAC is a key market that has seen increased demand. With Benjamin at the helm, we are confident we can deliver top security for both consumers and financial institutions to protect their crypto assets.”

Prior to the recent announcement, Ledger, together with software provider for cryptocurrency, had revealed it is launching a hardware wallet that is fully compatible with the Blockchain Wallet. According to the release, the companies aim to offer “a convenient alternative” to store crypto offline for 30 million users.

In January, Ledger succeeded in raising $75 million in a Series B funding round led by European venture capital firm Draper Esprit. The amount raised was said to be the largest non-Initial Coin Offering (ICO) round by a cryptocurrency startup, following a $7 million Series A in 2017.

As Cointelegraph wrote in July, Ledger reportedly attracted the interest of tech giants like Samsung, Google’s venture arm GV, and Siemens after the company managed to sell more than one million hardware crypto wallets throughout 2017, earning a profit of $29 million.

Recently Hong Kong officials have revealed plans to introduce crypto regulations. In June, Hong Kong’s Securities and Futures Commission (SFC) said that the regulator was keeping “a close watch” on crypto and ICOs, “intervening when appropriate.” Earlier this month, the SFC’s chairman told a local newspaper that the watchdog was planning to establish a legal framework for crypto assets.




fss-1-300x208 (1)韩国金融服务委员会(FSC)和金融监督管理局(FSS)警告投资者,不要参与未经授权的加密货币基金。《韩国商报》报道称,此前韩国推出了一种让投资者投资加密货币的金融产品,利润会在投资者购买的产品到期日分配,采用ICO的管理模式。

监管者特别提到了交易所Zeniex上个月推出的一只基金“ZXG Crypto Fund No. 1”,韩国“首只虚拟货币基金”,该媒体指出:
















作者:Kevin Helms