🗞 Daily Crypto News, January 11th 💰

Blockexplorer.com Declares a Preference for Bitcoin Cash Over “Blockstream Fork”;
Bitcoin Investor Sues Huobi Over ¥400,000 in Losses;
Florida Bill Would Legally Recognize Blockchain Signatures, Smart Contracts
Goldman Sachs Admits Bitcoin is Real Money, Cites Use Cases in Developing World
Russian Ministry of Labor: Gov’t Workers Exempt From Declaring Cryptocurrency Gains
SBD Trading Update

🗞 Blockexplorer.com Declares a Preference for Bitcoin Cash Over “Blockstream Fork”

The Blockstream fork of bitcoin diverges so radically from the ideas presented in the Bitcoin white paper, that it is an evolutionary dead end. While it may still have high trading value, as a mere collectible of curiosity, the Blockstream fork of bitcoin is not part of building any future financial infrastructure, which is what Block Explorer is about.

🗞 Bitcoin Investor Sues Huobi Over ¥400,000 in Losses

Wang Tieliang filed a lawsuit against Huobi and its two partners in Beijing to invalidate his bitcoin trades on the exchange. According to Wang, he deposited 1.4 million yuan at Huobi to speculate on bitcoin in October of 2016. But within a few months, he couldn’t handle the pressure to see himself losing money, and cashed out once and for all.

Bitcoin does not exist and is not a legal tender. Marxism says that a commodity should have price and value and clearly bitcoin can not be classed as a commodity. Besides, bitcoin is not a real currency for it is not issued by the central bank. Therefore, it shall not be used to trade or as a payment method.

🗞 Florida Bill Would Legally Recognize Blockchain Signatures, Smart Contracts

"A contract may not be denied legal effect or enforceability solely because: 1. An electronic record was used in the formation of the contract [and] 2. The contract contains a smart contract term."

🗞 Goldman Sachs Admits Bitcoin is Real Money, Cites Use Cases in Developing World

“In recent decades the U.S. dollar has served its purpose relatively well. [But] in those countries and corners of the financial system where the traditional services of money are inadequately supplied, Bitcoin (and cryptocurrencies more generally) may offer viable alternatives.”

🗞 Russian Ministry of Labor: Gov’t Workers Exempt From Declaring Cryptocurrency Gains

The Russian Ministry of Labor’s updated income, expenses and property declaration guidelines for government employees for reporting on 2017 includes a point about cryptocurrency, local media outlet Izvestia reports. The updated regulations state that government employees do not have to declare “virtual currencies” they obtained.

"At present, approaches to the definition and regulation of cryptocurrencies in the Russian Federation at the legislative level are not defined.”

SBD Trading Update by @cryptopassion

The STEEM DOLLARS (SBD) was moving inside a nice triangle since several days :

With the correction of the BTC, we did a little Break Out DOWN of the triangle. However, this kind of little Break Out can be often considered as a Bullish Wick to buy cheap before a nice futur Break Out UP.

I recommand you to keep an eye in the incoming hours on the SBD and see if we are able to go back inside the triangle. If this is confirmed, it could be the signal of a very nice Break Out UP in preparation.

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