100 transactions account for 86% of BSV volume – June 24

📈 30 Second Price Summary

Current Bitcoin Price$10,984

Bitcoin is back in the double-digits! Since our last newsletter on Friday, Bitcoin has climbed a further $1,000 for a price tag now just under $11,000. Over the last 24 hours, it’s up around one and a half percent, while most altcoins are down one to two percent.

Top Stories for 24th June 2019 🔥

👉 100 transactions account for 86% of BSV volume

Bitcoin SV is an offshoot of Bitcoin Cash, which was allegedly created to better represent the core values of Bitcoin, as laid out in its 2009 whitepaper. It’s spearheaded by the controversial character that is Craig Wright.

Yesterday’s network data shows that around 100 transactions accounted for almost 90% of the network’s entire volume, demonstrating a mix of centralization and inactivity. For comparison, less than 10% of Bitcoin’s volume yesterday was accounted for by the top 100 transactions.

👉 Australian called to pay $100,000 tax on $20,000 crypto

Governments around the world have been slow to implement clear regulation on how cryptocurrency should be taxed. In many cases, tax offices are using capital gains laws from other asset classes to tax crypto.

This has lead to the unfortunate situation where an Australian developer, who had been compensated the equivalent of $250,000 in Bitcoin at the market’s peak, is now being asked to pay $100,000 in tax on cryptocurrency that is currently worth $20,000.

👉 Bitcoin outperforms expert predictions over 10 months

In August 2018, a cryptocurrency news website published twelve “expert predictions” on which altcoins were most likely to succeed. Among the predictions were coins such as REQ, PRL, and MKR.

If you’d invested $120,000 equally across those twelve coins, that money would now be worth just under $100,000. Had you invested that money in Bitcoin, it would now be worth just over $200,000.