XBT-Cboe Bitcoin Futures

Bitcoin futures are now available for trading on the Cboe Futures Exchange, LLC (CFE). CFE launched trading in Cboe bitcoin futures on December 10 under the ticker symbol “XBT” (contract specifications | fact sheet.) This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.

XBT futures are cash-settled contracts based on the Gemini’s auction price for bitcoin, denominated in U.S. dollars. Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian founded in 2014 that allows customers to buy, sell, and store digital assets such as bitcoin, and is subject to fiduciary obligations, capital reserve requirements, and banking compliance standards of the New York State Department of Financial Services.

View Latest Press ReleaseWatch our interview with Cameron and Tyler Winklevoss, founders of Gemini, at the 2017 Cboe Risk Management Conference Asia

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XBT-Cboe Bitcoin Futures

One Chart Explains Why You Should Own Bitcoin And Other …

A woman dressed in a t-shirt with cryptocurrency logos shows a visual representation of the cryptocurrency Bitcoin. Photo by Chesnot/Getty Images

The past month and a half have been a rough time to be a Bitcoin investor. After seeing its value rise from $5,850 in late June to almost $8,400 on July 24 it has been on a slippery slope with a few short dead cat bounces and has fallen back to just above $6,000.

[Editor & Authors note: Investing in cryptocoins or tokens is HIGHLY SPECULATIVE and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. If one does invest in cryptocurrencies it should only be with a very small percentage of their investable assets.]

[Authors note: There is no official price for Bitcoin, so I use round numbers and reference Yahoo! Finance data.]

There are multiple reasons that Bitcoin and cryptocurrencies (CCs) have been under pressure recently ranging from a Hong Kong Bitcoin exchange announcing that it had frozen a clients account due to them initiating an unusually large long position order (4,168,515 contracts) which was almost $420 million to the SEC delaying a decision on VanEcks request to list and trade SolidX Bitcoin Shares.

Bitcoin price chartCoinmarketcap.com

One reason to own Bitcoin and other cryptocurrencies

While digital currencies shouldnt be thought of as an asset investors will flock to in times of uncertainty, not being correlated to other asset classes could be worthwhile if the markets become under a lot of stress and almost all of them are sold off.

Fundstrats Alex Kern and Ken Xuan compare Bitcoin and other CCs to other asset classes such as the S&P 500, U.S. Dollar, International equities, U.S. Bonds, Commodities, Gold and Oil. What they found is that there is a very low correlation between Bitcoin and other CCs and pretty much all of these other asset classes.

In the upper right quarter of the chart below their analysis shows that the closest correlation between Bitcoin and other CCs (depicted as the FS CryptoFX Indexes Fundstrat developed and tracks) is in the high-teens with about half of all the comparisons in the single digits. This means that Bitcoins and the other CCs price movements are not tied to these other asset classes.

Correlations between Bitcoin and other cryptocurrencies to various assetsCoinmarketcap.com, Bloomberg, other sources and Fundstrat

NBER working paper supports Fundstrat analysis

The National Bureau of Economic Analysis published a working paper this month that supports Fundstrats findings. It compared Bitcoin, Ripple and Ethereum to stocks, currencies, commodities and macroeconomic factors. The 25 page report did a detailed economic analysis and found that cryptocurrency returns can be predicted by factors which are specific to cryptocurrency markets. Specifically, we determine that there is a strong time-series momentum effect and that proxies for investor attention strongly forecast cryptocurrency returns.

Their main conclusion was that only cryptocurrency market specific factors momentum and the proxies for investor attention consistently explain the variations of cryptocurrency returns. This suggests, in contrast to popular explanations, that markets do not view cryptocurrencies similarly to standard asset classes.

While both analyses do not indicate that Bitcoin and CCs are worthwhile investments, they do show that if an investor wants an asset that is not correlated with other asset classes that they are vehicles to explore.

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One Chart Explains Why You Should Own Bitcoin And Other …

Bitcoin Dips Below $7,000, Hitting Lowest In 2 Weeks

Bitcoin prices declined to less than$7,000, hitting a two-week low. Shutterstock

Bitcoin prices fell below the $7,000 level today,reaching their lowest since mid-July.

The digital currency’s pricedeclined to as little as$6,933.09, according to theCoinDesk Bitcoin Price Index (BPI).

At this point, it wasdown roughly 6.5% for the day, additional BPI figures show.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin’s Recent Recovery

Since reaching a 2018 low of$5785.43 in June, Bitcoin prices have bounced back, rising to as much as $8,479.33 July 25.

Right around that time, several analystsclaimed that the digital currency’s price had hit a local low, signaling a reversal in their trend.

“Bitcoin has indeed bottomed out,” stated Marouane Garcon, managing director ofcrypto-to-crypto derivatives platformAmulet.

Charles Thorngren,CEO ofNoble Alternative Investments, agreed with this statement, adding that an “attractive uptrend” was “in the works.”

However, not everyone had shared that point of view, with some market observers contending that it was too early to call a bottom.

“I’m concerned that the bounce off the lows wasnt sharp enough, so not willing to stand behind a call that its a bottom yet,” statedVinny Lingham, co-founder & CEO ofCivic.com.

Bitcoin’s recent pullback could easily worsen this uncertainty, motivating some traders to sit back and wait while the markets get their bearings.

Disclosure: I own some Bitcoin, Bitcoin Cash and Ether.

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Bitcoin Dips Below $7,000, Hitting Lowest In 2 Weeks

Things you need to know Bitcoin.com

No Central Command

Bitcoin isnt owned by anyone. Think of it like email. Anyone can use it, but there isnt a single company that is in charge of it. Bitcoin transactions are irreversible. This means that no one, including banks, or governments can block you from sending or receiving bitcoins with anyone else, anywhere in the world. With this freedom comes the great responsibility of not having any central authority to complain to if something goes wrong. Just like physical cash, dont let strangers hold your bitcoins for you, and dont send them to untrustworthy people on the internet.

There are several different types of Bitcoin wallets, but the most important distinction is in relation to who is in control of the private keys required to spend the bitcoins. Some Bitcoin wallets actually act more like banks because they are holding the users private keys on behalf. If you choose to use one of these services, be aware that you are completely at their mercy regarding the security of your bitcoins. Most wallets, however, allow the user to be in charge of their own private keys. This means that no one in the entire world can access your account without your permission. It also means that no one can help you if you forget your password or otherwise lose access to your private keys. If you decide you want to own a lot of Bitcoin it would be a good idea to divide them among several different wallets. As the saying goes, dont put all your eggs in one basket.

Like everything, Bitcoins price is determined by the laws of supply and demand. Because the supply is limited to 21 million bitcoins, as more people use Bitcoin the increased demand, combined with the fixed supply, will force the price to go up. Because the number of people using Bitcoin in the world is still relatively small, the price of Bitcoin in terms of traditional currency can fluctuate significantly on a daily basis, but will continue to increase as more people start to use it. For example, in early 2011 one Bitcoin was worth less than one USD, but in 2015 one Bitcoin is worth hundreds of USD. In the future, if Bitcoin becomes truly popular, each single Bitcoin will have to be worth at least hundreds of thousands of dollars in order to accommodate this additional demand.

There are several ways to buy Bitcoin, but trusted exchanges are a great way to acquire Bitcoin. Because there are inefficiencies in the traditional banking system, exchanges will sometimes have slightly different prices. If the difference is too great, traders will buy low on one an exchange and sell high on another and close the gap. If an exchange constantly has substantially different prices than others, it is a sign of trouble and that exchange should be avoided. As with everything else, do your research and find an exchange you can trust. Its also a good idea not to use an exchange as a wallet. Move your Bitcoin to your personal wallet so that you have control over your funds at all times. You can view our list of Bitcoin exchanges here.

Because all Bitcoin transactions are stored on a public ledger known as the blockchain, people might be able to link your identity to a transaction over time. Some companies offer various tools such as Bitcoin mixers to help achieve greater privacy, but it takes a huge amount of effort to use Bitcoin anonymously. You may want to follow your countrys tax regulations regarding Bitcoin in order to avoid trouble with the law, but you have the power not to should you choose to take that risk. To improve privacy, most newer Bitcoin wallets will use a new Bitcoin address each time someone sends bitcoins to you.

Bitcoin transactions are seen by the entire network within a few seconds and are usually recorded into Bitcoin’s world wide ledger called the blockchain, in the next block. While its possible that a transaction wont be confirmed in the next block, in the vast majority of circumstances it is fine to accept a transaction as soon as it has been seen by the network. Unlike traditional payment systems, Bitcoin transactions are lightning fast and can be sent globally. Bitcoin is still relatively new, but with each passing day the technology becomes more reliable. It is more and more unlikely that a major bug will emerge in the system as time goes by, and people can trust the technology more with the passing of time. Each month people transact hundreds of millions of dollars worth of Bitcoin.

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Things you need to know Bitcoin.com

Bitcoin – Bitcoin Price Live, BTC Value, Mining, BTC to USD …

THE TEAM

Bitcoin was created by an anonymous name called Satoshi Nakamoto Other notable names rumored to be part of the team include

The practical uses of Bitcoin

If you have the required hardware, you can mine bitcoin even if you are not a miner. There are different ways one can mine bitcoin such as cloud mining, mining pool, etc. For cloud mining, all you need to do is to connect to the datacenter and start mining. The good thing about this is that you can mine from anywhere and you dont need a physical hardware to mine.

For mining pool, all you need to do is to join a mining group, and if that team solves a computational problem, blocks are added to the blockchain, they get the reward and you get a share of it based on your contribution.

PoW algorithm-SHA-256 is used for mining. Which utilizes a lot of computational power.

Bitcoin mining saps energy, costly, uses more power and also the reward delays. For mining, run software, get your wallet ready and be the first to solve a cryptographic problem and you get your reward after the new blocks have been added to the blockchain.Mining is said to be successful when all the transactions are recorded in the blockchain and the new blocks are added to the blockchain.

Notes for investors

Die-hard Bitcoin supporters believe that bitcoin is the future; we are just scratching the surface.Considering the continuous rise of bitcoin in the market capitalization, it is one investment every investor needs to take advantage of it.

The current market capitalization of bitcoin stands at an all-time high of $109 billion. As at January 2016, bitcoin was traded at I BTC for $970 but today is being traded at $6,600 for 1 BTC.

From the statistics presented above, it that bitcoin is one investment, you will never regret embarking on. It keeps recording an impressive results daily in the cryptocurrency market.

MUST READ!

Cryptocurrency investment is speculative, and it involves unquantifiable risks the market is full of uncertainty, susceptible to attack and capital loss, and sensitive to secondary issues, time may do not permit to mention here.Seek advice before investing.

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Bitcoin – Bitcoin Price Live, BTC Value, Mining, BTC to USD …

Standard Exchanges Bitcoin.com

Standard Exchanges Bitcoin.com Afghanistanland IslandsAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, the Democratic Republic of theCook IslandsCosta RicaCte d’IvoireCroatiaCubaCuraaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and McDonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, the former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesia, Federated States ofMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorthern Mariana IslandsNorwayOmanPakistanPalauPalestinian Territory, OccupiedPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalPuerto RicoQatarRunionRomaniaRussian FederationRwandaSaint BarthlemySaint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUnited States Minor Outlying IslandsUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofViet NamVirgin Islands, BritishVirgin Islands, U.S.Wallis and FutunaWestern SaharaYemenZambiaZimbabwe

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Standard Exchanges Bitcoin.com

Must I pay tax this year if I transfer bitcoin from …

“In 2014, the IRS issued a noticeclarifying that it treats digital currencies such as Bitcoin as capital assets and are therefore subject to capital gains taxes. The notice provides that virtual currency is treated as property for U.S. federal tax purposes, it reads. General tax principles that apply to property transactions apply to transactions using virtual currency.

The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.

Thus, not every transfer of funds is considered a sale. For the user, sending bitcoins from a Coinbase account to their Trezor hardware wallet, for example, is only a transfer and not a sale since the user is still in possession of the coins.

You should keep your own records for best results and update the report accordingly, Coinbase support explains. For example, if you transfer funds offsite to a desktop wallet, and then back again, you would not count this as a sale of digital currency.

Continued here:

Must I pay tax this year if I transfer bitcoin from …

Will a 1099-B form work best for reporting bitcoin …

How to report bitcoin transactions depends on how they are classified.

Here is some TurboTax guidance to help you decide where to report transactions:

It depends on how those currencies were held and used. Based on that, the IRS determines whether to treat the currency as income or property.

Bitcoin used to pay for goods and services is taxed as income:

Bitcoin held as capital assets is taxed as property:

If you hold Bitcoin as a capital asset, you must treat it as property for tax purposes. General tax principles applicable to property transactions apply. In other words, just like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss. Otherwise, the investor realizes ordinary gain or loss on an exchange.

Bitcoin received as incomeand then held and sold for profitis taxed as both:

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Yes. The IRS is taking cryptocurrency very seriously, to the extent that they took the digital currency exchange Coinbase to court to obtain user records and now have a contract with digital forensics company Chainalysis to help track cryptocurrency transactions.

Note: Many people have been unsure of how to treat Bitcoin, so you may have recorded earnings incorrectly on prior returns. If you need to amend a previous return, follow these steps. (We also have a video that shows you how.)

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Will a 1099-B form work best for reporting bitcoin …

Bitcoin (BTC) price: News & Live Chart – Trading Analysis …

Bitcoin is a digital currency, sometimes referred to as a cryptocurrency, best known as the world’s first truly decentralized digital currency. Bitcoin is traded on a peer-to-peer basis with a distributed ledger called the Blockchain, and the Bitcoin exchange rate to the US Dollar and other major currencies is determined by supply and demand as with other global exchange rates. The traded value of Bitcoin has proven volatile through various booms and busts in demand. Ultimately, however, many see Bitcoin as a store of value against government-backed fiat currencies.

Abbreviated as BTC, Bitcoin is actively traded against the world’s major currencies across decentralized markets. Bitcoins are kept in so-called Bitcoin wallets, which depend on private keys and cryptography to secure its Bitcoins to a specific entity or user.

By comparison to government-backed global currencies, Bitcoin remains fairly complex for the typical user to acquire and use in regular transactions. Growing interest and significant global investments in Bitcoin wallet and Blockchain technology have nonetheless made buying and selling Bitcoin far more accessible to the average user. And indeed growing acceptance by government entities have ameliorated the ambiguity of legal and regulatory status for Bitcoin and Bitcoin exchanges.

You can find historical price of Bitcoin on our chart and latest news and analysis on the Bitcoin exchange rate.

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Bitcoin (BTC) price: News & Live Chart – Trading Analysis …

What is Bitcoin? – Definition from WhatIs.com

Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country’s central bank or government.Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.

Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer (P2P) network. The P2P network monitors and verifies the transfer of Bitcoins between users. Each user’s Bitcoins are stored in a program called a digital wallet, which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user.

The Bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and the network is set up to regulate itself to deal with inflation.Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer’s wallet to a Bitcoin address in the vendor’s wallet. As of this writing, one Bitcoin (also called a BTC) is worth $104 — but just as with stocks, the value of Bitcoins can fluctuate quickly.

In the United States, Bitcoins are controversial because they can be used to anonymously transfer illicit funds or hide unreported income from the Internal Revenue Service (IRS). Bitcoin policy now requires transactions that involve traditional, government-backed currencies to be attached to an identity.

This CNN video provides an overview of Bitcoin:

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What is Bitcoin? – Definition from WhatIs.com