The capacity of the network is almost USD 70 million, equivalent to around 1,189 BTC. Bitcoin exchanges and wallets provide support so that users can access their operations.

The Bitcoin Lightning network already has more than 10,000 active nodes that process near-instantaneous transactions at a low cost. Between April 2020 and April 2021, the number of operating nodes doubled, going from 5,349 to 10,439. That increase represents a growth of approximately 95%.

The decentralized network has gathered momentum, which lays the foundation for the potential scalability of Bitcoin. The number of payment channels enabled has also become evident. According to data from Bitcoin Visuals, there are currently about 40,000 channels that allow immediate transactions.

The Capacity to Process Transactions Has Increased in the Last Year

Each of the channels processed an average of USD 1,657, equivalent to around 2.8 million satoshis, as of April 5^th. Twelve months ago, the number of processed satoshis was relatively the same, but that in US dollars was approximately USD 200.

The processing capacity of the Lightning network reached an even more relevant average. Last year, it managed to process transactions for USD 6.5 million that represented around 920 thousand BTC at the time. Currently, the amount committed is 1,189,000 BTC, that is, almost USD 70 million.

Information service 1ML confirmed the figures, indicating that the number of nodes with active channels has grown by 11.5% in the last month. In other words, almost 1,200 nodes have joined the network between March and April of this year.

The Adoption of the Bitcoin Lightning Network Is Expanding Worldwide

Many Bitcoin developers and companies are dedicated to creating proposals for the Bitcoin Lightning Network. The goal of such developments is to help its adoption grow on a global scale. In recent years, exchanges have even incorporated support for users to have access to operations of this type.

Lightning Labs, a company based in San Francisco, United States, is among the most prominent exponents. They promote the development of wallets, desktop apps, and other open-source proposals to advance the technology.

On its recent website, programmers interested in the platform can develop projects based on this second-layer solution on top of Bitcoin.

The Lightning Network Has Received Support From Various Exchanges

Several cryptocurrency exchanges have announced support for operations on the Lightning network. These platforms include OKEx, Kraken, OKCoin, and Bitfinex, among others. Over the year, other exchanges should join the Lightning wave for faster transactions on Bitcoin.

Previously, the CEO of the Bitcoin and Lightning Muun Wallet, Darío Sneidermanis, spoke about these networks. He stressed that developers and the broader community should not separate Bitcoin and the Lightning network. He believes that no one should assume that it is about different things.

Given that Lightning is a decentralized network, it eliminates the risk of delegating the custody of funds to trusted third parties. Transactions with decentralized cryptocurrencies, such as Bitcoin, are secure after the confirmation of six blocks, a period of about one hour.

By Alexander Salazar

The action takes place within the framework of the recent “Campaña de la Renta 2020” (2020 Income Campaign). Spaniards who conduct transactions involving cryptocurrencies and euros must declare taxes.

A total of 14,600 taxpayers who conduct transactions with Bitcoin (BTC) and other cryptocurrencies will receive notifications from the Spanish Tax Agency. This action is part of the 2020 Income Campaign, which will run until June 30th this year.

This year, there are fewer notifications than in 2020, when more than 66,000 bitcoiners had to present the corresponding declarations. Jesús Gascón, general director of the Tax Agency, gave this information to the Spanish news agency Europa Press.

The regulatory agency said that “it is now possible to file the Income 2020 return through Renta WEB or the application. All help services for the online filing of the tax return are also available.”

Citizens Must Declare Their Earnings in Bitcoin and Euros

José Antonio Bravo, a tax economist, and accountant talked about the types of cryptocurrency transactions to declare. He explained that it is necessary to report transactions between cryptocurrencies such as Bitcoin and Ether, in addition to those involving euros.

“Binding Consultation V099-18 of the General Directorate of Taxes makes it clear that cryptocurrencies are intangible assets. For that reason, the changes that occur between them are exchanges of assets that produce capital gains and losses. Following article 37 of the IRPF (Income Tax) Law, it is necessary to include them in the annual return,” explained Bravo.

The economist said that the Tax Agency may not be able to detect transactions between cryptocurrencies. However, taxpayers run a risk when it comes to selling their cryptocurrencies for euros. They may have more than they can justify (or even different ones) or may have not reported earnings on time.

Traders would be opting to buy and sell cryptocurrencies on platforms without KYC protocols, but without exchanging to euros. In other words, the funds must always remain in Bitcoin, Ether, or Monero, as the case may be.

How the Ministry of Finance Controls Bitcoin in Spain

Spain is among the countries that most controls transactions with cryptocurrencies of their citizens. On other occasions, the State has approved bills to report this type of transaction. Last year, the “Law on Preventive Measures to Combat Tax Avoidance” received approval from the authorities.

The Minister of Finance of Spain, María Jesús Montero, then highlighted that the legislation seeks to achieve greater control of cryptocurrencies. The regulation in question includes cryptocurrency transactions such as the following: acquisition, transmission, exchange, transfer, collections, and payments.

Since 2018, Spain has approved draft laws related to Bitcoin. The final purpose is that citizens declare cryptocurrency transactions for the corresponding payment of taxes to the State.

Cryptocurrencies have been gaining prominence in the world market, which worries financial authorities in several countries. For that reason, there have been proposals to regulate the use of these types of assets and even to develop central bank digital currencies (CBDCs).

By Alexander Salazar

Thiel pointed out the risks related to Bitcoin when being under China’s control and that it is a tool to threaten the US dollar.

The reputed investor of risk markets and Bitcoin enthusiast, Peter Thiel, warns about the degree of control that China has over the digital currency and invited the US government to consider stricter regulations in this ecosystem.

Thiel released this warning during a virtual event held by members of the Richard Nixon Foundation. Thiel took advantage of the space to express his worries about Bitcoin representing a threat to the US dollar, as many other critics have pointed out in the last months.

Thiel Commented on the Matter:

“I wonder if at this point Bitcoin should also be seen in part as a Chinese financial weapon against the US… It threatens fiat money, but especially threatens the US dollar… [in the face of] China’s long reach on Bitcoin. Perhaps from a geopolitical perspective, the US should be asking itself some tough questions about how exactly this works. “

Although Thiel proclaims himself as a “pro-crypto, pro-Bitcoin maximalist,” his statements reveal a more significant concern on the tycoon, highlighting the possibility that the digital currency would represent a risk for the American nation, mainly from a geopolitical perspective.

Bitcoin, its Situation in China, and the Leadership in Mining

Some opinions highlight that China is allegedly behind Bitcoin, a currency whose operation, in theory, is decentralized and distributed. For analysts and critics, this thesis takes on particular importance in the face of mining groups that support digital currency.

Even though the Chinese government has an ambivalent position regarding the use of Bitcoin and digital currencies at the local level (more inclined towards their prohibition), they do not seem to have mining problems.

Many districts of the Asian country seem to be very attractive for this practice because of the low energetic costs, which have also attracted several investors and operators of mining farms that operate in the region.

The most worrying aspect, precisely associated with the Bitcoin mining pools, is that more than 51% of the Bitcoin network’s processing power links to four entities: F2Pool / Poolin / Huobi.pool / Antpool. All of these are under the control of companies with operations headquarters in China.

According to reports from the University of Cambridge and Buybitcoinworldwide.com portal, there are estimations that by 2020 at least 81% of mining activities will set their operations in China.

This leadership in mining implies centralizing these tasks within the Asian country, leaving these at the mercy of the legal frameworks and regulations under the local government’s control and development.

The People and Pools that Control More than 51% of the HASH on the Network in 2020

During his digital discussion participation, Thiel also spoke about some ideas with former secretaries of state Mike Pompeo and the previous national security adviser Robert O’Brien. There the investor also appeared to be worried that companies like Google have some commercial mutualism with China.

By: Jenson Nuñez

The tweeters criticized that Purchases would appear in the passport as part of a digital “travel pass,” as well as data regarding border crossings, hotel stays, and car rentals would also appear.

The Commons Project Foundation and the World Economic Forum focus their efforts on the Common Pass’s first tests; this is a digital passport that would make travel more manageable during the Covid-19 pandemic.

This tool will help people prove that they have undergone a Covid test before their trip. However, it still shows few technical challenges that are currently under Twitter users’ radar. These Twitter users warned about the danger of the “Covid passport.”

The biometric level My Common Pass applies facial images and might also be using fingerprints. Besides, it includes government-issued identification credentials (passport number), travel history, a list of border-crossing records, hotel stays, and car rentals.

A tweeter wrote that the passport would also include purchase records and maybe data from bank accounts and other financial and transaction records. The digital passport will also feature predictive pre-crime “risk assessment” and profiling scores generated at each “intervention” point before and during each trip. Even transactions will appear as records.

This same tweeter also indicates that touristic behavior will also appear on records and a list of purchases and other financial movements regarding transactions. Each border crossing will receive a stamp in the passport as part of a digital “travel pass,” which will be a subject of routine inspections.

The Use of Such Amount of Data Would Serve to Discriminate Travelers

@SikhForTruth, the critic tweeter, described through its account on the social network that all this data intends to serve as sources to discriminate between travelers whose identification profiles might keep some relationship to a possible crime classification risk.

The tweeter also wrote that “access to the most comprehensive travel history and transaction records is a long-standing goal of government travel monitoring and control agencies. Following the standards established by the International Civil Aviation Organization (ICAO), the space on the RFID chip or radio frequency identification of each electronic passport finds a reservation for the travel history data”.

An Applicable Passport for Border Crossing

The tweeter highlights that this passport would only help border crossing or entry/exit data but not for dealing with records of hotel stays or other transactions.

An individual would be able to be chosen from a crowd to receive its inclusion, and would also appear on a blacklist by asymptomatic facial recognition. Therefore, this passport can also serve for surreptitious and non-consensual mass surveillance.

KTDI’s partners include government travel agencies (DHS, ICAO, among others), airline industries, and even the International Air Transport Association (IATA). Also on that list are Google, Visa, and Accor hotel chains.

 @SikhForTruth also argued that This system is the same that appeared on January 28, 2021, by the Institute for Global Change. This system can receive its adoption in The United Kingdom in the years to come.

By: Jenson Nuñez

The fund works with three series: A, F, and P. Fees might vary between 0.40% and 0.90%. The parent company’s goal is to grant better access to the first cryptocurrency.

A new bitcoin mutual fund (BTC) went to the public in Canada with a unique aiming on retail investors. The CI Bitcoin Fund is already on the stock for traders, contributing with 500 US or Canadian dollars.

The product bases on three series A, F, and P, with handling commissions ranging from 0.40% (series F), 0.90% (Series A), and rates that could face negotiations in the case of series P. According to CI Global Asset Management, this investment fund would be the first of its kind in North America with a “dedicated bitcoin exposure.”

The company explained in detail that the fund indirectly sets an investment in bitcoin through the CI Galaxy Bitcoin ETF that appears on the Toronto Stock Exchange list under the identifier BTCX. The latter does invest directly in the first cryptocurrency with segregated cold storage.

The Company Explained Clearly How the Mutual fund Works

“This fund may ok for you if: you want to gain exposure to bitcoin, you want long-term capital growth, and you can tolerate high risk (…) The value of the fund can go down or up. You can lose money,” emphasized CI Global Asset Management.

For Kurt MacAlpine, CEO of CI Financial Corp (the fund’s parent company), the primary mission is to provide exposure to the retail market through an institutional platform. In MacAlpine’s opinion, the product grants more accessible access to bitcoin and many other digital assets.

The income distribution is done annually, while investors can inject new funds into their portfolio from $ 25. The CI Bitcoin Fund also has two other series: the I and the W; however, these alternatives are not available for retail investments.

Mutual funds and ETFs, or exchange-traded funds, are investment tools with a few different features. In the first case, investors pool their funds in stocks or bonds, for example, to obtain benefits in an estimated period. An ETF manages itself more passively than when it follows a specific market index.

Bitcoin Presents Itself as a Regulated Investment Alternative

Canada is now the North American leader in investment products associated with bitcoin and other cryptocurrencies. Local regulatory authorities have been even more outspoken than their US counterpart.

Since 2018, the British Columbia Securities Commission and the Ontario Securities Commission (OSC) are friends with the launch of this kind of fund. Their decisions are different from those made by the US Securities and Exchange Commission, which has shown a severe rejection regarding bitcoin ETFs in the past.

Canadians could already invest in the FBC Bitcoin Trust, a mutual fund or trust in which operators would allocate funds through tax-free savings accounts or retirement plans.

By: Jenson Nuñez

The businessman assures that the institutions will not accept Bitcoin mined in sanctioned countries such as China. O’Leary called Bitcoin “junk” less than two years ago, but now he invests 3% of his portfolio in cryptocurrency.

Kevin O’Leary recently said that he will not buy cryptocurrencies if he does not know “where they were mined, when they were mined, and where they come from.” “Not from China as there will be no blood coins for me,” the billionaire businessman added.

In recent days, O’Leary aired his opinion on the pioneering cryptocurrency on CNBC television. He assured that he will only acquire Bitcoin from countries that mine using sustainable hydroelectric energy instead of coal.

The Canadian businessman called the Bitcoin mined in China a “blood coin”. He thus drew a parallel between the cryptocurrency and the “blood diamonds” produced in Africa to finance insurgencies.

Institutions Seek to Restrict Cryptocurrencies Mined Using Coal

According to the billionaire, large institutions could impose new restrictions on Bitcoin, and other cryptocurrencies mined without following certain environmental regulations. They would also restrict crypto assets mined in countries that violate human rights and restrictions on carbon emissions.

“Institutions will not buy coins mined in China, using coal for electricity, or [in any other] sanctioned countries,” O’Leary said. He added that institutional investors do not want to back China because of the human rights violations in that country.

However, it will be difficult for O’Leary and institutions to detect “green” Bitcoin not “made in China”. China had processed 95% of the mined Bitcoin blocks until last August.

The University of Cambridge conducted a study together with BTC.com, Poolin, and ViaBTC. The document indicates that China processes 65% of the hash rate, while the United States (7%), Russia (7%), Kazakhstan (6%), Malaysia (4%), Iran (4%), and Venezuela (0, 42%), among other countries, handle the remainder.

Of a total of 18 million BTC in circulation, China has been the main miner. Concerning the remaining 3 million BTC, China has enough infrastructures to mine a large part.

O’Leary Rejected Bitcoin but Now Invests in the Cryptocurrency

The businessman and co-host of the reality show “Shark Tank” announced that he invests 3% of his portfolio in Bitcoin (BTC). However, he called the pioneering cryptocurrency “junk” less than two years ago.

Analyst Niall Ferguson said that there has been a lack of foresight about the future of money on the part of the United States. That now seems to worry the country’s legislators, given that global financial hegemony remains vulnerable to a potentially fatal challenge. The US monetary authorities underestimate the threat that China’s cryptocurrency poses to the dominance of the US dollar.

Green Bitcoin Mining Gains Strength in North America

What Kevin O’Leary thinks is in line with the latest moves by mining companies to establish themselves in North America. The latter seeks to extract Bitcoin using renewable energy.

For example, Canadian clean-tech blockchain company MintGreen announced the closing of a funding round. With this, they seek to recycle the heat from Bitcoin mining.

Likewise, Link Global Technologies, dedicated to Bitcoin mining, and Neptune Digital Assets, focused on blockchain technology, join this “green” movement. They say that they will build a Bitcoin mining farm that will use wind and solar energy, as well as natural gas.

By Alexander Salazar