Bitcoin in Brief Monday: A Panther’s Moonshot Bet

Bitcoin in Brief Monday: A Panther’s Moonshot Bet

Bitcoin in Brief today is slanted toward a crypto winter slowly thawing, as Pantera Capital bets on a moonshot price point. Also, the world’s most popular decentralized digital asset has been forked more than a plate of good pasta; there’s a growing list of countries who’re less likely to nab your crypto profits; Yahoo! smashes rumors; and a good-hearted wager between bitcoin core and bitcoin cash partisans exemplifies how ecosystem actors should treat one another.

Also read: Bitcoin in Brief Saturday: Hide Your Seed

A Panther’s Moonshot

Bulls have a panther as their advocate to help thaw this crypto winter. We reported this week, “Pantera Capital, an investment firm exclusively operating in the cryptocurrency and distributed ledger technology sectors, has published a letter predicting that bitcoin has established the low for its current bear market. Pantera cites a number of factors as informing its market outlook.”

Bitcoin in Brief Monday: A Panther’s Moonshot Bet

Among those factors are taxes on capital gains, where estimates are in the many, many billions expected from enthusiasts. That in turn, the fund theorizes, dragged prices down, and bitcoin core has found a bottom at $6,500, as holders were forced to sell in order to pay government bills. We continue, “Pantera also states that ‘It’s highly likely’ for the price of bitcoin to exceed its previous record highs of $20,000 ‘within a year,’ asserting that ‘A wall of institutional money will drive’ the growth in price.”

Speaking of Taxes

Until that prediction comes true, readers should pack their bags to save money from the tax man! Start looking for places to stay in Germany, Slovenia, Denmark, Belarus, South Korea, Singapore, as they’re some of the most advantageous.

Bitcoin in Brief Monday: A Panther’s Moonshot Bet

We stressed how many “jurisdictions have yet to update their tax laws to encompass cryptocurrencies. Rules governing taxation are often incoherent and very different even in countries that are part of a common space. In the European Union, for instance, tax rates in member-states vary between 0 and 50%.”

Forking Crazy

Be honest. You’ve never heard of Bitcoin Minor, Bitcoin King, nor Bitcoin Boy. How many times would you guess the Bitcoin network has been forked? During an extensive and really interesting investigation, we revealed nearly 70 times. That’s right, 70.

We summarized findings as how forking “bitcoin used to be a rarity. Then it became the norm. And then it became a meme, with anyone and everyone forking bitcoin on a weekly basis. There have now been a total of 69 bitcoin forks plus another 18 altcoin forks. Holders of bitcoin, monero, ethereum, and litecoin can claim almost 80 additional coins for free. Whether it’s worth their time to do so, however, is another matter.”

The Fork of All Forks Remains a Solid Option

The most famous of forks is, of course, bitcoin cash (BCH). Its being faster, sleeker, younger, and bigger (block wise) has lead those on the bitcoin core (BTC) side to take a stance on BCH’s long term viability. And while each side feels passionate about its coin, and the future that it entails, debate often become rancorous, turning everyone off.

Bitcoin in Brief Monday: A Panther’s Moonshot Bet
A reader responds to a hilarious bet.

We reported how two well-known advocates joked and ribbed one another about Core’s anticipated Lightning Network solution. They bet bragging rights if a demonstration of the solution failed a basic transaction. Loser would have to wear a t-shirt of the winner’s coin. Regardless of which won, the import is how the two men exchanged laughs and good humor, and the ecosystem needs more of both.

Japan Continues to Lead

No laughing matter is how the crypto winter continues its thaw as “Yahoo! Japan has confirmed that it is entering the crypto space by acquiring a stake in a Japanese cryptocurrency exchange that is already licensed by the country’s financial regulator. The company plans to launch a crypto exchange in the fall of this year,” we explained.

Bitcoin in Brief Monday: A Panther’s Moonshot Bet

We Have the Best Readers in All of Crypto

Thanks to our readers liking and sharing, our post on aspects of Islam possibly opening to cryptocurrency was picked up and republished and referenced around the world. Some contend it was the root cause of bitcoin’s recent price rebound. Great job, gang.

The crazy good book by Wendy McElroy we continue to serialize brings in wonderful reader comments and observations. To wit:

Bitcoin in Brief Monday: A Panther’s Moonshot Bet

Do you think bitcoin will continue to rise or to fall to new lows? Let us know in the comments section below.


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Two Turkish Imams Fired for Allegedly Investing in Bitcoin

Two Turkish Imams Fired for Allegedly Investing in Bitcoin

Two Turkish imams have been fired for possessing bitcoin investments, according to local media reports. Turkey’s religious authorities determined that bitcoin is “not compatible with Islam” in November 2017.

Also Read: Bitcoin Mining Training Coming to 30 Cities in India

Two Imams Fired for Owning Bitcoin

Two Turkish Imams Fired for Allegedly Investing in BitcoinIt has been reported that two religious officials in Zonguldak, Turkey, have been removed from office by Turkey’s Presidency of Religious Affairs.

Mecit K, who held a position at a mosque in Zonguldak’s city center, and Satilimis B, who worked in a surrounding village, were removed following an investigation by the Presidency of Religious Affairs into allegations that both men were investing in bitcoin. Both men have appealed the determinations.

According to a rough translation, Mecit C has pled only to have made investments into “blockchain,” stating “I do not have a close relationship with Bitcoin, I have not invested a penny, I do not have a connection […] I have an investment in ‘Blockchain’, but I have never invested in Bitcoin, it is a legitimate investment.” Mecit also indicated that this was not the first investigation of its kind into his investments, adding “In 2016, an investigation was launched on the grounds that necessary jurisdictions had been opened and then the case was closed, and an investigation was launched again in 2017. Justice will make its decision.”

By contrast, Satilimis pled total innocence, claiming not to “even know what bitcoin is.” Satilimis’ statements appear to claim that his wife’s jewelry business had recently been the victim of some sort of scam. Satilimis stated that his “wife went to this place by selling the jewelry items, under the influence of the father-in-law and getting the rental income from this company but this company went down without getting any rental income. I am also the victim here. they gave me the air of directing my friends to this company, but my friends who entered this company without being under the influence of anyone in the investigation declare them. I was dismissed from such a calumny. It is a pity that the Religious Council has come to this point.”

Turkish Religious Officials Rule Against Bitcoin Use in 2017

Two Turkish Imams Fired for Allegedly Investing in BitcoinLate last year, it was first reported that Turkey’s Presidency of Religious Affairs had announced that it would not permit the use of cryptocurrencies.

According to a rough translation, The Gazete Manifesto quoted the High Council of Religious affairs as concluding that “It is permissible to use any kind of money which is generally regarded as a measure of exchange or value among users, which gives trust to the user as a source. What is important at this point is that the means of change, known as money, is not used as a means of deceiving, in its essence, i.e., in the form of production, in the stages of release and in the nature of interrogation, as a means of deception, and is not conducive to the unjust and unjust enrichment of a particular segment. The use of each of the digital-crypto[currencies] that have emerged in recent years […] should be evaluated in the light of the above general principles. According to this, there is a risk of deceit, which has serious uncertainties in its essence.”

What is your response to the firing of the Turkish imams? Share your thoughts in the comments section below!


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