John McAfee For President 2020

Samuel Paz
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John McAfee For President 2020

     John McAfee postulated for a presidential bid again with a project based on the crypto-community. McAfee, founder of McAfee Antivirus, legendary businessman and cryptocurrency enthusiast, announced via Twitter on June 3, his intention to run for president in 2020, as a form of service for the cryptocurrency community.

McAfee tweeted:

“In spite of past refusals, I have decided to run again for POTUS in 2020. If I asked again for the Libertarian party, I will run with them. If not, I will create my own party. I believe this will best serve the crypto community by providing the ultimate campaign platform for us.” @officialmcfee

This will be the second presidential candidacy for McAfee, after losing in his first bid to become the Libertarian candidate in 2016 against the former governor of the state of New Mexico, Gary Johnson.

He also commented on his failed attempt, saying:

“If I had been more connected to the community in 2016, I would have been better able to publicize the idea of ‘monetary independence'”

McAfee returned to Twitter today to say:

“Do not think that I have a chance to win. I do not. But what truly changes America is not the president, but the process of creating one. If my following is sufficient I get to stand the world’s largest stage and talk to everyone, as I did last time, to tell the truth.” @officialmcafee

For more information on McAfee’s project see “‘Fiat, The New Coin, Backed By Crypto’ – John McAfee” – https://www.cryptoworldjournal.com/fiat-coin-crypto-john-mcafee/

 

by Samuel Paz

Thailand’s Tax On Cryptocurrency

Frisco d'Anconia
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Thailand’s Tax On Cryptocurrency

15 Percent Tax Will Increase OTC In Thailand

A couple of weeks ago, the Thailand Ministry of Finance implemented a 15% capital gain tax (CGT) on all cryptocurrency transactions. The new tax is also referred to as a withholding tax on all retail transactions and investment returns.

Initially, it was to be introduced alongside a 7% value added tax (VAT) on individual cryptocurrency investments, however, in a surprising move, the ministry announced that it is waiving the VAT for only the CGT.

Impact on Industry

In an interview with CoinPedia, Wannipha Buakaew of the Thai Blockchain Association, shined more light on the impact of the policy and the future of the industry in Thailand. From her perspective, there is going to be more OTC activities but more importantly, it signifies a new era of recognition for cryptocurrency in Thailand.

She stated:

“The impact the tax will create is an increase in OTC transactions in the country. On the Plus side, it shows that the Thai government has acknowledged the power Cryptocurrency wields”.

When asked if the 15% rate is exorbitant, she was of the opinion that, for her compatriots, it is, but, compared to countries such as Australia, the rate is reasonably attractive.  In Australia and Japan, CGT’s on cryptocurrency are 50 and 55%, respectively.

Wannipha also indicated that the decision will have an adverse effect on foreign direct investment in Thailand on the cryptocurrency front, however, she did emphasize that it is bad for business, but good for state acceptance of cryptocurrency.

“Previously there was no tax on Crypto so Thailand was indeed a popular destination for crypto lovers”, she told CoinPedia. “But now that the tax is in place, foreign investors may look into other destinations such as Belize or Malta”.

Crypto’s Future In Thailand

Despite the ongoing development, the Director of the Thai Blockchain Association believes the future of fintech in general, and cryptocurrencies, in particular, is very promising.

“More and more Thais have taken interest in crypto so I have no doubt that the future is still looking bright”, Wannipaw indicated.

She revealed that three new exchanges have recently opened their doors for business in Thailand. Moreover, trading activities in the past six months have been very encouraging.

For her, the best thing crypto-lovers in Thailand should do is to scale up education about blockchain technology.

“Just like most parts of the word, we need to educate our people to understand cryptocurrency and blockchain”, Wannipaw maintained.

She also indicated that her outfit will begin a dialogue with the state in order to bring about harmonious atmosphere for the crypto industry to thrive in the country. Among many of the things they have earmarked to discuss with the government, is lowering the 15% CGT.

 

by Frisco d’Anconia



Blockhchain Technology Would Solve VISA’s Latest Issue

Samuel Paz
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Blockhchain Technology Would Solve VISA’s Latest Issue

     A problem in Visa’s payment processing network affected most of Friday night’s movements in the United Kingdom, as well as other European countries. The problem was resolved on  Saturday, according to what Visa Europe reports on their website. Without going into more detail, Visa excused the problem as a ”hardware failure”. A problem that could be avoided if distributed platforms were implemented, such as Bitcoin.

Visa’s only response the problem was as statement issued, saying:

“This afternoon, Visa experienced a system failure that affected customers throughout Europe. Our goal is to serve 24 hours a day, 365 days a year. Today we fail to meet this objective and we apologize to all our partners and especially Visa cardholders, who can now use their cards, because we are close to our normal levels of service. This disruption was caused by a hardware failure. We have no reason to believe that this is associated with any unauthorized access or other malicious event.”

Visa also stated that the system would be back up and running, and ATM’s and payment systems will be fully functional, early Saturday morning.

There were still some pending transactions to reverse from Friday, with respect to purchases that failed to be made due to cards erroneously being rejected. In an additional report, Visa admitted these errors, saying:

“If you tried a transaction that was not completed, no charge should have been made. A small number of clients may have transactions to be performed that could limit their purchasing power. We are working with your banks to solve this.”

With the application of a distributed system, this type of chaos generated by a failure of the centralized system could be avoided. A distributed, blockchain system, like Bitcoin’s, does not present faults in any of these aspects, so that if any node presented an inconvenience, the transactions will continue their process, since the system would not be compromised in that circumstance. Therefore, the decentralization and distributed origin of a blockchain will offer protection against this type of issue.

The question is, “how soon will these centralized systems look for alternatives solutions such as blockchain?”

 

by Samuel Paz

Bitmain & CryptoSoft Can Bring Mining Equipment Into Venezuela

Samuel Paz
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0
Bitmain & CryptoSoft Can Bring Mining Equipment Into Venezuela

     On May 30th, the Venezuelan government published the Official Gazette No. 41.408 which allows Bitmain Technologies and the CriptoSoft Corporation to import electronic equipment into Venezuela for cryptocurrency mining.

Previously, the entry of mining equipment into the country had been prohibited, and
companies interested in using crypto-specialized hardware would have to go through a rigorous evaluation process.

You can see what’s related to this here: https://www.cryptoworldjournal.com/venezuelacryptocurrency-mining

The authorization granted by the Superintendent of Cryptocurrency and Related Activities of Venezuela (the current agency controlled by the Vice President and responsible for the supervision and regulation of activities related to cryptocurrency), to the companies mentioned above is detailed. It authorizes the impor of Bitmain brand mining machines, in all models including power sources, as well as motherboards, graphic memory and storage
drives specialized for mining. Also, the Superintendent may revoke the authorization itself, if a company fails to comply with the established obligations, the customs regulations, or when the conditions under which the authorization was approved are modified.

In essence, the prohibition of importing equipment to mine crytpocurrencies in the country is still valid until those who need to bring this equipment have the respective approval by the Superintendent, and compliance with all legal requirements.

 

by Samuel Paz

“Fiat, The New Coin, Backed By Crypto” – John McAfee

Samuel Paz
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2
“Fiat, The New Coin, Backed By Crypto” – John McAfee

     Legendary businessman, tech-genius, entrepreneur, investor and cryptocurrency-enthusiast, John McAfee, recently announced via Twitter, that he will launch his own coin, which will be called “Fiat”.

“No hoax. The “McAfee Redemption Unit” is real and coming in 26 days. The graphic is low res – don’t want to give much away yet. Printed on currency paper, holographs on both sides, serialized, linked to the blockchain, redeemable, convertible, collectible”

A curious fact is that the tickets can be exchanged in a private, face-to-face meeting with
McAfee himself, in person, in Mexico. The exchange method is briefly explained on the
back of each of the tickets:

“Please, go to the office between 1PM and 3PM, located in Rinconada de Los Caracoles 109, department 01, Conchas Chinas – Puerto Vallarta”.

According to what is being reported, it was determined that a “McAfee” (Of his new currency) will be equivalent to a one minute meeting, and each interested party will be limited to 100 tickets per session, at most. Many enthusiasts have shown their support for the new project. However, some have concerns about the launch.

Among the questions that could be asked are:

     “What is the use of printing a new currency in cash, when what they want is to get rid         of it?”

To which McAfee responded,

“Patience, you will see. You only get to see the shadow of everything I’m doing.”

Will McAfee be able to launch a coin supported by crypto-actives successfully, or is it just another experiment?

You can watch the McAfee conference at the Blockchain Nation Miami, which took place on April 25 th & 26th at:
     Crypto World Journal – Youtube
     https://www.youtube.com/watch?v=8-AirSCMa18

 

by Samuel Paz

Blockchain Technology & Video Games

Samuel Larreal
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Blockchain Technology & Video Games

     An acclaimed internet show recently debated the potential of blockchain technology and video games.

In recent months the term “blockchain video game” has increasingly appeared in specialized and conventional media, while new companies have started to sell their own versions of video games based in blockchain technology. An example of this business strategy is the Ethereum-based platform Cryptokitties, undoubtedly the most popular “crypto-game” of 2018. However, for a big part of the gaming community these kinds of games are nothing more than “pseudo-cryptocurrencies”.

Extra-Credits (EC) is a show that focuses on video games.  The show was started in 2008 and is written by game designer James Portnow. The show can boast a community of more than 1 million subscribers in YouTube and is regarded as one of the most influential shows in the gaming community.

In its most recent episode, Extra Credits took a look at how blockchain technology can be exploited for game design and monetization purposes.

“Blockchain is a fascinating technology, most of us know about it from Cryptocurrencies; but basically is distributed data bases that are increasingly hard to temper with… I think it’s really cool for games, because there there’s a ton that blockchain allows us to do from a design prospective and even a monetization prospective.“

In the episode, they argued the potential that “digital scarcity” and “real player ownership” could provide unique, “in-game” mechanics to multiplayer games. Also blockchain technology could set the platform for real free-to-play games, just asking for a small portion of GPU’s power in order to mine Bitcoin, Ethereum and/or other cryptocurrencies.

 

by Samuel Larreal

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