Tech Tic Technologies

The US State of Illinois made a massive step towards further blockchain adoption. According to the Blockchain Technology Act, which took effect on January 1st, blockchain-based smart contracts satisfy the law under certain circumstances. Smart Contracts Admissible In Court One of the biggest challenges in front of regulators when it comes to crafting legislation for the cryptocurrency field is definitions. The SEC, for instance, has been struggling for quite some time before stating that Bitcoin and Ether (ETH) are not considered securities, while other digital assets launched in Initial Coin Offerings, for instance, pertain to that definition. The State of Illinois, however, has made a serious step towards regulating blockchain-based technologies with the Blockchain Technology Act . The bill, which is sponsored by Rep. Keith Wheeler, took effect on January 1st, 2020, and one of the first things that it addresses is the very definition for blockchain itself. “Blockcha...

Australia is in severe pain as massive bushfires spread across the country with a staggering 10 million hectares of land consumed by the ferocious flames, leaving at least 2500 buildings destroyed and 25 people and 500 million animals dead. Binance To Help With Australia’s Distress Many institutions and people from around the world, including foreign governments, private institutions, celebrities, and everyday people, have responded to the country’s current situation by offering prayers, thoughts, and donations to the Australian burnfire relief. One of the latest donations comes from the Binance Charity Foundation, the blockchain-based charity division of the world’s leading crypto exchange Binance. Binance Charity announced January 7 that it had made a $1 million (A$1.45m) worth of BNB donation as a lead for its new charity project, Australia Bushfire Donations, to raise funds for the dire situation in Australia. According to Binance, the funds raised in the new initiat...

American entrepreneur and controversial crypto figure John McAfee, who boldly predicted that Bitcoin would be valued at $1 million by the end of 2020, has openly lashed out on the leading cryptocurrency, referring to it as an ancient technology due to several limitations. This comes as a blow, considering that he was one of the biggest promoters of Bitcoin and crypto in general over the last few years. McAfee believes that being the first blockchain to exist does not make Bitcoin the “future.” In his opinion, there are newer blockchains with enhanced features that solve the flaws of the Bitcoin blockchain, just as the Ford Model T automobile of 1908 was replaced by more sophisticated cars. The 74 years computer programmer and billionaire has always been an advocate of decentralization and privacy. In fact, he has spent a great deal of time on the run while preaching against central authorities like government, and as such, privacy is a big concern for him, one of the features w...

As the new year begins, Qatar’s Financial Center, the nation’s regulatory authority, has issued a blanket ban on cryptocurrency-related services in the Gulf nation. The prohibition covers not only cryptocurrencies but “anything of value” that could substitute fiat currencies. Qatar Bans Cryptocurrencies The Qatari Financial Center, which is also the nation’s regulatory authority, has issued a statewide ban on cryptocurrencies and other digital assets that might substitute traditional fiat. Per the report , the authority stated that: “Virtual Asset Services may not be conducted in or from the QFC at this time.” It also reads that this goes for “Anything of value that acts as a substitute for currency, that can be digitally traded or transferred and can be used for payment or investment purposes.” However, it’s also worth noting that the ban doesn’t cover digital forms of securities or other financial instruments that are thoroughly regulated by the Regulatory Authority, ...

While most of the world countries and entities are making slight attempts to enlarge their cryptocurrency adoption, Venezuela might be way ahead. Judging by the past year, the dictatorship country has been quite favorable towards Bitcoin and other digital assets, with increased trading volume, and its own cryptocurrency to be used in oil trades. Most recently, the Burger King food chain will allow clients to make purchases with several different cryptos, including Bitcoin, thanks to a partnership with Cryptobuyer. Pay your Whopper with Bitcoin The popular cryptocurrency gateway, CryptoBuyer, recently announced on a new partnership with Burger King Venezuela. Effective immediately, customers can use some of the most popular cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, Binance Coin, Dash, and Tether, to make purchases in one location in the capital Caracas. Dash goes even further, announcing that there will be 40 Burger King locations throughout the whol...

Bitcoin and the alternative coins receive different acceptance from people: from a speculative tool for trading to an investment option, digital gold, etc. Yet, most of them have another, more meaningful purpose that is somehow neglected by the masses when they see only their coins’ prices. While most people are aware of the top digital assets and what they are supposed to do, let’s take a look at other, less-known cryptocurrencies and their usage in the real world, if any. Beginning With The Big Shot Let’s start from the top of all cryptocurrencies by market capitalization. The first-ever is Bitcoin, and it serves as a peer-to-peer electronic payment method. It’s a digital currency with value and it’s not owned by any central entity like a government or a central bank, whence comes the word “decentralized.” As it’s the world’s largest and most popular cryptocurrency, it naturally gets most of the attention. Tech Tic Technologies has previously reported about five of the ...

It’s safe to say that the beginning of 2020 is everything one might have expected it to be on the cryptocurrency market: volatile. Just a few days after the New Year’s bell rang, Bitcoin went on a rollercoaster, dropping down to a low of $6,850, only to recover hours later, gaining upwards of $500 in the process.  Interestingly enough, this move coincided with a significant political event. The US President, Donald Trump, ordered an airstrike against Baghdad’s airport. During this, the leader of Iran’s Quds Forces, General Qasem Soleimani, was killed. This goes again to show that Bitcoin is not correlated to political and economic turmoil, and it showcased his qualities as a store of value.  As the new year came to light, there are also new bold predictions. Tyler Winklevoss believes that the upcoming decade is going will see cryptocurrencies become as essential as emails. Of course, not everyone is as positive. Michael Novogratz, who failed with his 2019 prediction...

Ethereum has seen a small 3% price increase over the past 7 days as it trades at the $130 level. Against BTC, ETH still is struggling to break above the resistance at 0.01820 BTC. Ethereum must break above $135 to turn bullish. Key Support & Resista Support:  $128, $120, $118. Resistance: $133.50, $145, $152. ETH/BTC: Support: 0.0171 BTC, 0.0169 BTC, 0.0164 BTC. Resistance: 0.0179 BTC, 0.0184 BTC, 0.019 BTC. ETH/USD –  ETH Still Struggling To Break $133.50  Since our last analysis , ETH rolled over from the resistance at $135, causing it to fall into the support at $128.35. The bulls have defended this area, however, the momentum is certainly within the bearish favor at this moment. If ETH was to drop and fall back beneath the $120 level, the market would be considered bearish. On the other hand, to turn bullish, Ethereum must rise and break above the December highs at $152. Ethereum Short Term Price Prediction If the bul...

Good news for cryptocurrency traders in South Korea as profit generated from crypto trading will not be subjected to tax, according to a recent announcement from the country’s Ministry of Finance and Strategy. The Ministry clarified that the current tax law does not consider crypto trading gains as taxable income; thus, Korean crypto traders are not required to pay taxes on the profits they earn from crypto trading for the time being.  However, crypto traders in the country may not be exempted from taxation for a long time. An official of the Ministry said that the Ministry is aware of the loophole in the current tax law, and they are currently reviewing the regulations in major foreign countries so that they can amend theirs in an effective way. “The income tax law is only taxable on income listed as taxable. We are preparing a taxation plan for virtual assets by comprehensively reviewing the taxation of major countries, consistency with accounting standards, and trend...

Bitcoin marked the end of 2019 at around $7,150, which is a notable increase of over 90% since January 1st.  Looking at the price on a smaller time frame, BTC has decreased by 1% in the last 24 hours and is currently trading at $7,190. Just yesterday, the largest cryptocurrency attempted to break the $7,400 resistance but to no avail. Part of the reason could be related to the CME price gap at around $7,300, and as it often happens, it was filled in less than 24 hours. If BTC is to increase, it has to break the $7,400 resistance line and $7,700 would follow next. However, if bears take charge, the most notable support lies at $7,000, followed by $6,800 and $6,500. Most altcoins are recording similar price movements of around 1% up or down within the last 24 hours, keeping Bitcoin’s dominance over the entire market at above 68%. Ethereum is at $131; Ripple ranges for several days at around $0,193, and Binance Coin – $13.78. Bitcoin SV is close to $100, recording the m...