#CryptoCorner: "Proof of Keys" Today, #Overstock ( $OSTK) to Pay Taxes with #Bitcoin in Ohio and Circle Made $24 Billion in OTC Trades in 2018
January 4th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - January 4, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: "Proof of Keys" Today, #Overstock to Pay Taxes with #Bitcoin in Ohio and Circle Made $24 Billion in OTC Trades in 2018
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"Proof of Keys" Today, Overstock to Pay Taxes with Bitcoin in Ohio and Circle Made $24 Billion in OTC Trades in 2018
Stocks discussed: (NasdaqGM:OSTK)
Throughout this first week of 2019 the crypto market has remained relatively stable. As we head into the weekend, however, the market has taken a slight dip in the red. According to data from CoinMarketCap, total market capitalization is sitting at $129 billion USD. Bitcoin (BTC), still unable to reclaim its $4000 bottom, is trading for just under $3800 at press time. Trailing behind are Ether (ETH) and XRP, which are trading for $150 and $0.35, respectively.
Today is the "Proof of Keys" event, wherein crypto holders are encouraged to withdraw their funds from exchanges that have been perceived as having become too centralized, and store them in their wallets. According to Cointelegraph, the event was proposed by Bitcoin investor Trace Mayer, and the goal is to "reassert holder control over their crypto assets and to make sure that exchanges are actually in possession of as much funds as they claim."
Leading US retailer Overstock.com (NasdaqGM:OSTK) has announced that it will pay a portion of its Ohio state business taxes in bitcoin using the state's new cryptocurrency taxpayer platform, OhioCrypto.com. Overstock CEO and founder Patrick M. Byrne said:
"We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy. We are proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help usher in an era of trust through technology for our nation's essential financial systems."
Payments firm Circle published a blog post on Medium in which they claimed to have executed "more than 10,000 OTC trades" across "36 different crypto assets" worth $24 billion. Quoting from the blog post:
"…in these still early days of crypto finance, we're more focused and enthused than ever about the value that crypto stands to bring to people everywhere, all over the world.
Regardless of recent market headwinds, Circle specifically is poised to grow its leadership role with unique depth of talent, technology, regulatory approach, and diversity of product and service offerings as crypto evolves toward its true potential."
Sam Mowers, Investorideas
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Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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