Bitcoin News 23 November 2016

Bitcoin News 23 November 2016



you hi everybody its Tracy learn and Peter Marie good morning Tracy good morning pizza how are you I'm excellent thank you I see the Bitcoin price is still ticking up is ticking down you know but but the good thing is that it's some some nice training for hours yeah I'm looking at the market cap and earlier it was a little bit higher than that but the fact of the matter is it still doing are you going into five and a half million there was a peak see this was ten point eight and then we had for the fourth of November we've met we had him sorry it was the third of November we had an eleven point seven so I mean has really been a very very good month for Bitcoin very very interesting and it looks like a price is consolidating your a little bit so we'll see what happens yeah it seems to be pizza and I say now you know it just needs to break through that 780 level and then it means it's heading cost' 800 and then you know who knows those stopping it no stopping it let's see what happens so we on that Facebook page now and we're going through the news so if there's any news items you want to check up look at our Facebook page so this was actually gb miners are Manning in in India remember they they actually stood up just a while ago and they've something like 5% of the market so they obviously are doing the best you to tune out but Quinn you know in this time of demagnetization and the fact that the Bitcoin price is going through the roof so yeah interesting place to be yeah in this a very interesting place to be I mean as you know they took they're taking some of the banknotes out of circulation which is creating a lot of hardship and like we said I wanted to monetize the economy which means they want to make a digital and I reckon that India will be a free digital economy within the next 10 years in a drink so much in that country so realizing you in humanitarian operations with bit give a give trek so actually set up some time ago and they or they really did quite a bit and interesting because they're saying that actually they really did want to set it up because when people start earning and start making a lot of money with bitcoin they want to be able to be they you know to help with donations ecstatic cetera well I would assume this gift rack is the same type of thing that I've seen at the block any event I was at for a company called disburse where they actually track the donations as I move through the system they tracked him on the blockchain so that people can actually see where their money that they've made 19 are going to which starts yeah that's brilliant pizza because at the end of the day you know when you when you put so many into charities or foundations you just don't know where it's going you know just yeah so it's very interesting and you know this is a perfect blockchain application and it seems to it seems to be working so that's good so yes a little explainer video about what but couldn't hopping is we only have to worry about you know hoping in the next four years but just a bit of interesting just wanted to tell people that that you know because before people get scared that the bitcoins will be off not your bitcoins that off and it's actually the supply of bitcoins that off so in actual fact it's a bullish event for the price but watch the video and you'll get the full picture me Australian government pushes for Bitcoin accounting staying and financial reporting standards agency is pushing for internet for action of digital currencies I think this is important because the reason why we need this is to people know what they can expect regarding taxation because if you're making a capital gain on Bitcoin you know you can pay tax in a net capital gain can you evaporate at the time so the question is and on accounting standards and regulations to see how are the text people going to look at this in terms of valuing the Bitcoin that you have in your portfolio is going there's going to be a marketing market value or is this going to be a value at sale so that's going to be very interesting to see how that's going to be done or you're going to keep you but coins at cost or you're gonna have to mark to market at every end by text from your capital gains that you might not have realized yet yeah that's actually can be very interesting Peter I think where the volatility my views with the volatility of Bitcoin II she treated almost like a locker like a property investment you know like a real estate where you actually get your capital gains tax and the moment of self-will you know what we need to realize going instead of a unrealized gain that'll depend on you know on with your personal with your corporation with your fund and then you know what type of business you have I remember some months ago the the Italians were talking about that and they were actually talking about capital gains you know treating it's like capital gains yeah well that would be different if you're a Bitcoin trader of course you've been making short-term profits so it depends on on the type of profits you're making our that's my dad anyway there's still a lot of talking to be going to go on you know in terms of that subject but yeah I think it should scramble though to give clarity on this and give some accounting course give some guidance on how they're going to treat this hmm for sure okay so it's very important um before is arrived as the idea is a text intensive are all the theorem is creating all dining room or folks now so I'm not sure what's going to happen there but yeah not a lot folk are and denial of service attacks I've been these people I don't know I've been nothing for Assyria my which because of all the forking now people have the knife in it seems to be here mm-hmm seems to be anyway I'm sorry okay continuing about it okay here's also this about you know how do I feed my family the this is exactly what we just said because of the steam monetization also people are worried about how they're gonna get cash in and taking place looking 12-hour shifts without weekends to to to meet the demand and here but but you know also these people are not getting paid by the name is either which is also not a Tina's not a great situation for everyone but but you know it's a lot of pain they need to go through now and hopefully to the betterment of India I hope little bit them in the Vindhya we'll see what happens I mean I just posted a li living here on route 7 Oh committee calls for CFTC clarity on Bitcoin and called on the Commodities Futures Trading Commission to focus on digital currency regulation many many stories now regulation absolutely under CFTC is already see that in regard Bitcoin is a commodity now that followed you saw it you know what happens next with this commodity and I'm I still waiting for the day that the Chicago Mercantile Exchange start listing Bitcoin contracts because then we'll see the Bitcoin price twice in the roof because people would be able to actually then speculate on Bitcoin and buy bitcoins on the futures market without actually ever having a wallet or actually having to own Bitcoin because he would be able to own futures and options contract on the future price of Bitcoin incredible pizza Wow and that opens it up to thousands of traders oh not even thousands millions millions of traders yeah I mean the Chicago Mercantile Exchange is the largest financial extent in the world so you can imagine yeah exactly very exciting stuff cash was paper in focus as government's seek more control you know this is this whole thing with India's woken up a few people and even Australian banks are calling for the scrapping of the what are they calling for they're cooling for the scrapping of the $100 and the $50 ball yeah no they weren't they wanted to take cash out of the system because it saves them a lot of money not to wrangle cash but also you know this is the direct thing for the bank to control more to get more control because now they got control of every single transaction because now every single transaction has to go through a card or through electronic means yes I give you I give you $100 bills in Australia now nobody knows that you received it from me where and there's now and also more importantly you know people just think it's not that people don't want dawn to know everything it's not that they don't charge a fee on that hundred dollar transfer there's nothing if I give you hundred dollars now the bank is I is I have control of every transaction I can charge it on everything this is what it is thank you exactly you're there making sure that they are going to stay relevant and they want to be making money you know they don't want to lose anything only I will have this just a story that you know if you do this it's gonna eradicate crime and stuff like this and I really think that I'm they're totally underestimating criminals and they and I mean obviously even if there's any digital payments they'll find a way so that's the essence yes interesting times ahead okay so tech giant Siemens is now working on blockchain micro grids so they've blocked change startup lo3 is partnered with German tech giant Siemens as it expands and in thorium based peer-to-peer energy transfer project no that's very interesting that's humans has been quiet in this area and yeah they're coming all of a sudden with something very very interesting so that's nice yes they have been very quiet I have to say mm-hmm interesting and let's just go up you know even if you on that is this the funding round happening at the moment it's one hundred and fifty million dollars hmm very interesting so it's you are you see the thing is with these all these projects that they're doing and consuming it's also very labor intensive in terms of you know people have to have to give up of they give up the sort of the normal jobs to be involved in this interesting yeah Internet of Things now this is a big expanding area like I said I was a little electrical show and there's a lot of interesting things happening with more and more things that are connected to the Internet one of the most interesting projects that I've seen was where there's a company that developed a product that you could link to infrastructure so on bridges on trains on you know any rail tracks to actually measure stress and all these infrastructure pressure points at the moment needs to be inspected manually and in the guys would say okay this breach looks like it needs some structural repair or whatever so what they're doing now is they're actually putting up all kinds of monitors and stuff that are linked to the internet like is real-time dot homeless they can even meet they can even measure the amount of people that occupies a building I really oh my goodness that's incredible okay so we hear a becket at Donald Trump Donald Trump picks anti encryption Attorney General signal encrypted messenger download skyrocket yeah so people are getting encryption device and for which it becomes against the law it's a scar from The History Channel aliens and rape keeps going up massive alien of food aliens a very interesting article and and also about India this time you know actually we'd be talking a lot about India but it's in the news alerts at the moment with all the drama going on me but one of the things that they're saying is that it's the world's fastest growing smartphone market and now you know they're wanting to encourage people to come over and manufacture thee yeah well there's a really a lot of what is need to call it outsourcing going to the Indian markets for manufacturing and also for software in the smartphone market so it's I think they're just pushing to get more and more and yeah India is currently the fastest growing economy in the world yeah yes yeah differently and they said they're currently only contribute to six percent of the value of phone sold in the country and but now you know they reckon it'll go up to the next you know this is great because this means jobs yep more jobs in India let's make India great again it's making here great again and here we are in China and that they've they've brought between Amazon so you can actually missus anybody's got one of these wallets and and you can many through to Amazon the click of a button this is just a way of Emerson is like Amazon is very very active and very very you know in all markets there's no way they not yeah there's somebody eating a but Quinn chocolate I don't know just saw the picture yeah side the chocolate yes executive thank a several chain pundits they are expanding into China we spoke yesterday for a lot of that's going on at the moment in the next five to ten years when it comes to the potential application of the so-called block public blockchain what you will see is more companies and government institutions using blockchain to facilitate information sharing excuse me oh sorry Tracy um yeah I mean this is this is very very interesting and you know just more and more application under banking sector of the blockchain young the banking sector love the block think yes a little video on how to Spain now some people still don't know how to spend but it's just you know the way things are going at the moment with more and more adoption happening every day and there are more services coming out more people more businesses like cepting but Queen so yeah you know it's differently on the way up so this is you know this is why I think regulation is not it is gonna be a good thing because it's going to sift out all the Ponzi schemes and the illegal investment schemes that are out there and this is just a warning that that Belize and say shouts of actually telling their people and warning everybody about it's a good sort of a mix mix mix but that's what it's called beautiful I'm sorry I didn't hear a bunch of that there was a bit of a crackling on the line Tracy but I've got the gist of the story so we can continue yes you do need what would you do with twenty three billion worthless banknotes I have a big bonfire yeah since you're the notes will make a pass three three hundred times the heart of Everest well you can imagine I mean imagine what a mammoth this is getting in all this is paper money and that alone is creating economic growth just the new jobs created to is creating opportunity they actually said 23 billion billion Wow a pizza that is the news for today sticking down a little bit they just tell you this gonna be some news coming out to die firstly the British government of the Autumn Statement and this is the first one off the brick set so people will be watch what that sounds like a fish eagle are you know are you a game lodge at Ord da so the council is having his first or the Chancellor's having his first Autumn Statement which is a basically a budget statement the UK data to resume are to 1.6 trillion pounds which is massive or the size of the UK economy and you know so this is all a part it's gonna be watched very closely because of brick set so that is something we'll definitely watch on the news the other news that will definitely keep an eye on is that the snowfall in in sölden is 40% in Austria and the snow slopes in in in Switzerland are looking good so you know anybody going on holiday will follow that as well just for you guys for those okay well Pizza thanks for that so get back to your your skiing I'm Andrea all or rather your umbrella yes I mean in the UK this storms all over I mean it was it was hit by a hurricane of all things so there's a lot of flood warnings and the rain continues and I'm working on my bikini buddy I keep pizza thanks very much enough nonsense

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