Eos, the cryptocurrency backing the eos.ios platform, vaulted into the fifth spot in terms of market capitalization among digital currencies. After surging more than 30% over the past 24 hours to race to a market value of $7.1 billion, EOS surpassed Litecoin as the fifth-largest digital currency.
At this writing, EOS had a market value of $6.91 billion, just ahead of Litecoin’s $6.84 billion. The four largest digital currencies are Bitcoin, Ethereum, Ripple and Bitcoin Cash.
“Currently, there is no direct way to buy EOS with a credit card, debit card, or bank account on any US Exchange. The cheapest and most efficient way to obtain EOS is to first purchase Ethereum or Bitcoin through Coinbase (Currently Ethereum offers a much lower transfer and exchange fee than Bitcoin),” Cryptobase.io reported earlier this year.
What Sparked the EOS Surge
The rise in eos market value is undoubtedly impressive. In late January, it was merely the tenth-largest cryptocurrency before it ascended to the ninth spot in mid-February. Less than two months, later eos is in the fifth spot. As is the case with many crypto spikes, speculation about favorable news swirled, prompting the eos run-up.
“A group of developers who also claim involvement with the eos project are planning to distribute one eosDAC token to all accounts with at least 100 eos tokens at 1 a.m. UTC April 15, or 9 p.m. ET Saturday,” according to CNBC.
Some market observers believe EOS could be a credible rival to Ethereum and that the former could enhance adoption of cryptocurrencies.
Earlier this month, Block.one, the developer behind the pioneering blockchain software EOSIO, announced the formation of a $200 million venture fund known as EOS Global.
“EOS Global will make strategic investments in Asia-focused projects utilizing EOSIO, and is the fourth injection of capital through Block.one’s EOS VC initiative which now totals $600 million,” according to Block.one.
The circulating supply of eos is over 788.66 million.
“Cryptocurrency is a great idea” – Ron Paul
During a recent “Squawk Alley” interview, Former Republican congressman and presidential candidate, Ron Paul- discusses how he is in favor of cryptocurrencies as well as block change technology. Apparently, he enjoys competing currencies and believes they are a good idea.
He also believes that the governments only have the right to step in to prevent fraud from taking place. In the interview, Paul states that, “the government has a role. And if somebody has a case that there is fraud, I think it should be investigated.” Paul then goes on to state that what he wants to do “is legalize the freedom of choice, absent blatant fraud.” Agreeably so, this is exactly the type of perspective that the crypto world needs.
Throughout the interview, Paul compares crypto to gold in many ways. He points out how both assets are competing with traditional fiat money. He discusses how our government has never been “very tolerant of competition, and they’re not even tolerant with using the Constitution to compete with the fiat dollar. Because gold and silver, you can’t use it.”
This isn’t the first time that Ron Paul has discussed his views on crypto. Back in 2014, the Former Republican Congressman displayed his concerns about the foundation of crypto and Bitcoin. However, he acquired a bearish pro-crypto outlook on the future of fiat money. Paul believes that the dollar won’t last long as “they all self-destruct.” According to Paul, the only competition for the dollar is the euro and yen- which “isn’t any good.”
33 CryptoCurrencies In 4 Words Or Less
We put together this list to describe the top cryptocurrencies that are worth your time in 2019.
Each gets four words. There are many!
Hopefully this provides orientation.
Scroll Down To View An Awesome Infographic from MrBtc.org!
Is The IRS Coming For Your Secret Crypto Stash?
Whether we like it or not, the IRS may be coming for our secret crypto stashes. According to a recently leaked internal training guide, in order to locate people’s secret cryptocurrency stashes, the IRS may start sending subpoenas to tech companies.
In order to help protect yourself and your stash, we recommend you check out the full guide. Initiated by Laura Walter, a CPA, the guide showcases an assortment of tactics that the IRS will be using to track down and detect undisclosed cryptocurrency. Some of these tactics include obtaining bank records as well as app download history and activity.
Just last month, the slides were presented to the staffers of the IRS at an event at the World Bank in Washington D.C. It has also been noted that the IRS will be presenting the training guide to law enforcement agencies as well as other partners from countless countries around the world.
This particular guide goes over the basic concepts and definitions surrounding the cryptocurrency world. It also outlines the tactics the agents will be using to track down hidden wallets. This includes social media monitoring as well as credit card statements, PayPal activity, bank statements, etc.
For those who are concerned about protecting their crypto stash, it is important to be informed about the actions of the IRS and their planned tactics. Awareness is key. Check out the guide and protect your assets!
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