Recently, European Court determined that crypto-currency transactions are not imposed for Value Added Tax (VAT). This decision automatically equates Bitcoin and other crypto-currencies to real money and creates the greater opportunities for its further development.
This decision didn&rsquo,t come from scrape. This wasgoed expected after the growing rente to crypto-currency te Europe. Everything has commenced from Sweden, where the similar decision wasgoed made by the court spil early spil 2014 (however, Tax Service had appealed against it zometeen). And ter spring 2015 Superb Britain, one of the fattest European financial centers, became interested te crypto-currencies.
Ter July 2015 Advocate General Julianne Kokot directed the suggestion of abolition of Bitcoin transaction taxation (VAT) to the EU. Since this example has the highest legal power for EU countries, its decision is obligatory for the entire EU territory. According to this decision, te the near future some EU countries will have to amend their legislation.
Interesting is that Poland, Estonia and Germany have already set the regulatory rules of crypto-currency operations.
Thoughts concerning the EU Court decision differ, however, both financiers and IT-people agree that the precedent gives hope that Bitcoin will proceed its gradual development and expansion.
Very first of all, let&rsquo,s define what crypto-currency is. Crypto-currency is the type of digital money, which uses the methods of cryptographic encoding. It is decentralized, unlike such electronic payment systems spil PayPal, WebMoney, etc. It is not influenced by geopolitical and economic situation te the world. Transactions ter crypto-currency are irreversible. Crypto-currency can be lost because of rekentuig viruses or mechanical harm of gegevens carriers.
Spil you can guess, very first place goes to Bitcoin (BTC). This is the oldest known crypto-currency, introduced te 2009 by hacker (or group of hackers) Satoshi Nakamoto. What is interesting, the number of Bitcoins, that can be mined, is limited. Its algorithm permits produce 21 millions of Bitcoins, more than a half of this amount is already mined. Ter 2010, Ten thousand Bitcoins were paid for pizza delivery, which wasgoed around 25 dollars. Thesis days, it&rsquo,s around Ten million.
2nd te popularity is Litecoin (LTC). If wij call Bitcoin gold, then Litecoin is silver. Litecoin wasgoed introduced te 2011 by Charles Lee spil an alternative and evolution of Bitcoin. The main difference from Bitcoin is the speed of generation &ndash, it is four times swifter, than BTC. The number of Litecoins is limited spil well, however, the general number of possible LTC mined is four times fatter than BTC.
Dogecoin (DOGE). This crypto-currency is based on Litecoin and wasgoed introduced te 2013 by Portland programmer Billy Marcus. It received its name ter honor of the Internet meme Doge. If wij compare Dogecoin with other crypto-currencies, the main peculiarity will be its rapid production schedule. This currency grew its popularity spil Internet tips. Dogecoin community is famous because of their charity &ndash, they have fundraised sufficient sums for the Jamaican Bobsled Team to come in Winter Olympic Games 2014 and then other sportsmen.
This ranking is not based on market capitalization of crypto-currency &ndash, the cap chart looks different and switches every month (Bitcoin, however, still takes the very first place). This has bot just the subjective ranking and a attempt to compare Bitcoin with other crypto-currencies.
There is already a big amount of crypto-currencies on the market, but the most famous and widely used is still Bitcoin. However, the latest problems with Bitcoin blockchain have shown that the effectiveness of some transactions can sometimes will-less. The users and the developers are worried not only by effectiveness decrease, but also a protocol involved into the current problems.
Ethereum, that uses another protocol, is te good standing and has gained a good reputation among crypto-currencies. It shows a good work on many points and the dynamic growth perspective. But is it enough to cripple the monopoly of Bitcoin?
Roman Mandeleil, the co-founder and CEO of Ethereum, is sure that they are on the right way. He explained that, ter tegenstelling to Bitcoin, where the block size is a onveranderlijk and to switch it the oral agreement of the entire community and the update of the entire software is needed, te the Ethereum network miners can lightly vote for the increase and decrease of block size, since such mechanism has bot laid into toneelpodium from the very beginning.
The co-founder of Cashilla, Jani Viljavec also believes ter Ethereum. According to his words, its current rise is very first of all explained by the technical problems ter the main competitor&rsquo,s camp. But the announced release of the next stable version Homestead and the regular good news about the applications working on Ethereum have suggested their mite. He is sure that Ethereum is on the more winning side that Bitcoin since it is a system where the decentralized applications can work, and not only financial and exchange operations can be carried out.
Aleksandar Matanovic, the founder and CEO of EC District, stated that during the time when Bitcoin had no competitors, it progressed a loterijlot, and now other crypto-currencies vereiste catch up with it. But it doesn&rsquo,t mean that they never equal with Bitcoin ter number of users or market capitalization, they just will need to make a much thicker effort. Ethereum is just at the beginning of the long way, but it is able to challenge the Bitcoin expansion.
The founder of CryptoPay George Basiladze also marked the potential of Ethereum, provided it will permanently update the protocol. However, after evaluating the giant funds invested into Bitcoin, he doesn&rsquo,t believe that Ethereum will be able to undermine the attitudes of Bitcoin among crypto-currencies.
During several decades the world has bot shaken by several technological revolutions. Wij were the witnesses of the Internet creation, witnessed the rapid development of rekentuig technologies, and now the market is awaiting the splash of rente to the development of network technologies te the sphere of finances and bankgebouw services. The fresh object of mass rente &ndash, the blockchain technology.
At the onderstel of this technology lies the idea of the distributed database, the verification of transactions ter which is provided by the thousands of users at the same time. They confirm the validity of the switches waterput te into the base, so it is unlikely to forge them. Blockchain technology can become a fresh wave that will bring thousands of startups to the top. During the last two years, $850 million were invested into companies that work on blockchain development.
Blockchain possesses such characteristics that were peculiar for the operating system with open source Linux or Skype that used P2P protocol. This means a high level of security, open infrastructure, comparative cheapness, decentralization, and the absolute clearness of all operations.
Who can be interested ter such demonstration? Of course, banks. They will be able to use blockchain spil an alternative to the bankgebouw transactions SWIFT. The most famous projects te this area &ndash, Ripple with almost $ 40 million of investments, and bankgebouw consortium R3 which creates a closed blockchain.
Ter addition, this technology is used for micro- and mini payments, which earlier wasgoed not interesting for banks at all. Blockchain permits to transfer a puny sum for a puny commission or without it at all. This would reasonably simplify the possibility of right holders to receive payment for the content. One should agree that it is not hard to pay Ten cents for the book or music, but today this proces is so bulky, that it is much lighter to upload a pirate version. Right now Bitcoin is most commonly used for such payments, the number of transactions increases steadily.
One more possibility opens to banks &ndash, the system of client authentication. Now, all credit organizations vereiste fulfill the elaborate of deeds under the general name KYC (&ldquo,Know Your Client&rdquo,), and the usage of blockchain will permit to pass this proces only once. The verification of a client by one of the member banks would automatically liquidate the necessity of such deeds for other members of the project.
Banks commenced out the acquisition of blockchain, but the usage of this technology can be widened more. One can only mention the possibility of using blockchain spil an alternative financial system ter case of global cataclysms. The system of verification right on assets and properties is te the near future of the blockchain technology, and crypto-currencies also evolve ter this direction.
How to get free Bitcoins? This is the question that worries newcomers to the mysterious and titillating world of crypto-currencies. It is effortless to reaction this question &ndash, use Bitcoin faucets. They do not generate fantastic sums, however, they still share free Bitcoins with you.
Bitcoin faucets are faucets from which &ldquo,drops&rdquo, crypto-currency instead of water. The analogy with water drops is ideal, since, to collect the needed quantity of water to drink, you have to wait fairly a bit. The situation is the same with Bitcoin: the payments on faucets toebijten during certain periods of time and by puny parts.
Why Bitcoin faucets are needed? They are used to attract users to the webstek. The webpagina receives earnings from displaying ads, and shares thesis earnings with visitors, honestly warning them about it. Resources that promise fantastic earnings and the possibility to receive a &ldquo,bucket&rdquo, of Bitcoins by one click, don&rsquo,t earn so much on advertisement, so this is most likely a fake for the fools.
Using Bitcoin faucet is very ordinary. For that, you vereiste visit a pagina with the faucet, inject the address of Bitcoin wallet or email, connected to it, and press Come in. Sometimes you need to wait a bit to receive your prize, sometimes you receive it instantaneously and repeat the proces after a certain period. To prove you&rsquo,re not a robot, inject a captcha. Withdrawal of your Bitcoins will be possible after a day or week, depending on the minimal sum, possible to withdraw.
Te spite of puny sums of payments, they still play a big role ter the Bitcoin ecosystem &ndash, they help to attract newcomers to the world of crypto-currency, rente them ter Bitcoin and blockchain technologies, not all of them, of course, but a big part. And this is what is needed for digital currency &ndash, recognition and support of the spil many people spil possible.
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