Cryptocurrencies turn lower, BitTorrent launches token based on TRON protocol
Jan 03, 2019
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Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change
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Crypto Market Recap
- Cryptocurrencies turned broadly lower in afternoon trading, sending the price of Bitcoin (BTC) down 1.58% over the last 24 hours to USD$3,849.53. TRON (TRX) is outperforming major cryptocurrencies today, up 0.92% in the last 24 hours to USD$0.020284 -- this may be driven by the launch of BitTorrent tokens (BTT), which is based on the TRON protocol and is discussed below. EOS (EOS) and Ethereum Classic (ETC) lag major coins today, down 6.58% and 5.59% in the last 24 hours to USD$2.68 and USD$5.12, respectively.
Crypto Regulatory Environment
- Overstock.com, a large US online retailer, announced on its website today that it will begin to pay part of its business taxes in Ohio using Bitcoin (BTC). Overstock.com will use the recently launched cryptocurrency taxpayer platform, OhioCrypto.com, in order to pay its taxes in BTC. Overstock.com CEO and Founder Patrick Byrne said in the company release that government adoption of cryptos paired with friendly legislation is, “the best way to ensure the US does not lose our place at the forefront of the ever-advancing global economy.” In 2014, Overstock.com became the first major company to begin accepting BTC as payment through a partnership with Coinbase.
- Indian police in the state of Jammu and Kashmir issued a public statement that warns citizens of investing in cryptocurrencies, according to a report by Business Standard. “The general public is informed not to make any type of investment in cryptocurrencies,” said the police branch’s inspector general, adding that, “virtual currencies such as Bitcoin because there is a real and heightened risk associated with them.” India and its central bank are currently enforcing a ban on banks providing services to firms with crypto-related activities.
- The Chilean General Treasury of the Republic (TGR), which is responsible for tax oversight in Chile, has launched a blockchain platform to process payments. Launched in December, the blockchain platform is in its pilot phase. The blockchain platform aims to facilitate tax payments or patent fees on a blockchain network and requires all nodes involved in the process to approve a transaction before it is confirmed.
General Crypto News
- BitTorrent, a peer-to-peer torrent client, has launched its own token, BitTorrent (BTT), that is based on the TRON protocol, as per an official press release. The token aims to optimize network speed and enable faster downloads by allowing users to exchange the token. BitTorrent, which serves more than 100 million users, was acquired by TRON for an undisclosed amount roughly 6 months ago. Non-US based investors can already trade BTT tokens on Binance’s Launchpad program, which will selectively distribute airdrops later in the month.
- Deutsche Bahn AG, Germany’s largest train operating company, is partnering with Unibright, a German blockchain solution developer, to tokenize the ticketing process for several of Deutsche Bahn’s services. On top of train operations, Deutsche Bahn offers taxi, restaurant, and hotel services. Marten Jung, CEO of Unibright, discussed the partnership, saying, “One goal of the workshop concept was to define better, which players can be a part of an ecosystem around Deutsche Bahn and to make proposals on how this ecosystem can be built. The result should feel natural to the customer and provide tangible advantage.”
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio