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Israel is the next Bitcoin Hub?

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Israel targeting to be a hub for Initial coin offerings

Head of Israel securities authority, Shmuel Hauser said in an Interview recently that Israel is looking at the explosion of crypto currencies as an opportunity for Israel to develop an International Financial Center for Initial Coin offerings.

Israel has always been a hub for latest technology, if we take a look at the most successful startups in the world, Israeli entrepreneurs holds a significant position in that and country has always been open to welcome new technologies and innovative products.

If we talk about financial sector then this country is way ahead of many others in the world in terms of financial innovations, either in the form of payment methods like payoneer, or Forex and binary option brokers like Plus500 and many other companies.

Shmuel Hauser on Crypto market and ICO’s 

What’s needed is sympathetic “and even daring” regulations to help foster digital sales, Shmuel Hauser, the head of Securities Authority, said Monday at a conference near Tel Aviv. Even so, the new market is so explosive that Israel must set controls, he said. “The quest for investments in bitcoin reminds me of the 19th century gold rush.”

While blockchain is a legitimate technology that should be adopted to cut costs to investors, bitcoin is a means of digital payment that appears to have “gotten out of control,” said Hauser, who will be leaving the post early next year. His speech was sent to journalists by email.

Israel has yet to set a cohesive policy for cryptocurrencies. The Israel Tax Authority has deemed bitcoin a taxable financial asset, and the central bank has warned the public about risks associated with investing the commodity.

There’s still a long way for Israel to reach the title

Israel is still a long way behind countries like Japan and Korea in terms of regulation and adaptation of Crypto currencies like Bitcoin, but if Israel manage to create a road map for the market, there is no doubt about that fact that Israel can go a long way as far as crypto market is concern.

 

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Crypto market stabilizing gradually

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Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.

Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.

Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.

EOS

Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.

Current top 5 crypto currencies

  1. Bitcoin : $9388
  2. Ethereum: $741
  3. Ripple: $0.83
  4. Bitcoin Cash: $1630
  5. EOS: $18.28

 

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Take a Crypto Pill

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Crypto market is crashing, we all know that, panic sellers are taking over the market with massive sell-off. You can’t control that, just calm down and take a Crypto Pill to make things easy.

Crypto Pill is the term being used by industry leaders to make things calm down from recent fiasco, yesterday a leaked news from CFTC about Bitfinex and Tether made things even more difficult for crypto traders, short sellers went all into the market with massive short bets, and they won, Bitcoin price slipped below $10000 level to as low as $9500, but later on recovered to $10K , but selling pressure is still there.

First South Korea and now US

First it was South Korea, the country with massive trading volumes in crypto market, they announced to ban anonymous crypto trading and ban took place effective from 30th Jan 2018, then a sudden news came from US market when Bloomberg broke the news that US financial regulatory authority CFTC investigating Tether and Bitfinex, but later on it was confirmed that news was from December last year, which made market calm down a little bit after all that tension and hype about US crackdown on crypto currencies.

HODLers will take over market soon

Despite of all this fiasco, Hodlers are still holding their Crypto currencies, they are not giving up and they holding for their dear life, it is very much possible that they take over this market in near future, making another uptrend in coming months.

 

 

 

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Venezuela is the cheapest country to mine Bitcoin

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Cost of mining one Bitcoin in Venezuela is just $531 

Most expensive country to mine Bitcoin is South Korea, where cost of mining one bitcoin is $26,170

After recent crackdown by Chinese Government on Bitcoin miners, most talked about topic in bitcoin community is that which country would Chinese Bitcoin miners chose to shift, as many research firms were working to find the best possible option for the miners, one of the best option is Venezuela, where cost of mining one bitcoin is the cheapest, just $531, as compared to China where cost of mining one bitcoin $3172.

Others with lower costs are Bangladesh, Belarus, Paraguay, Serbia and Trinidad & Tobago. The most expensive is South Korea at $26,170 per coin. The U.S. cost is $4,675.
Calculations for the amount of energy consumed were based on the average usage of three popular types of mining equipment: the AntMiner S7, the AntMiner S9 and the Avalon.

Bitcoin mining consumes a lot of energy and according to one estimate, Bitcoin mining currently consuming energy which is more than 159 countries, including countries like Ireland

Bitcoin mining leading surge in global electricity consumption

 

 

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