Bitcoin Press Release: The only Australian owned global holiday rental website “EzyStayz” has released their own cryptocurrency “EZY” which will be launching on the Korean exchange Foblgate on the 20th April at an introductory price of 0.005 USD.
April 20th, 2020, Sydney, Australia – EzyStayz has 1 million listings in 205 countries around the globe, which include a whopping 80,000+ destinations worldwide and 1982+ hotel chains & boutique resorts. EzyStayz has enhanced its travel experience by introducing gaming elements to its product, offering a different marketing approach to customers, allowing them to play and win their accommodation booking for free.
Listing on Foblgate
The decision to launch on Foblgate was based on several factors. Foblgate is one of the largest exchanges in South Korea, a country that is responsible for approximately 35% of all global crypto trading. The site is easy for traders to use and provides a simple way to deposit Korean WON in exchange for one of the 19 different cryptocurrencies that are currently supported on the site. Not only that, but Foblgate has built a reputation as one of the leading exchanges in terms of safety and security for its users, making it the perfect platform for EzyStayz to launch their token on. Foblgate is soon to announce a partnership with Binance, so it is a great fit for EzyStayz first exchange to list on.
This launch is being supported by DexOne, a crypto marketing team that prominent in the Korean trading world, and has built a successful portfolio managing clients within this space. Their local knowledge of the trading habits and trends of the Korean crypto market has helped to shape this launch, increasing the chances of success with this token.
EzyStayz token currently has a market capitalisation of USD 28,000,000 – It is estimated that by 2022 the crypto-economy will be equal to 10% of world GDP2, & with Bitcoin rebounding from its March USD 4500 low to currently USD 7500 there is no better time to launch on an exchange.
There have been some exciting supporters in the project and recent discussions with TRON’s Founder & CEO Justin Sun who sees the investment potential and a very positive future for the company. He was interviewed on Coin Telegraph quoting that he is a long-term believer in cryptocurrencies and owns a stake in many altcoins. He also predicted that Bitcoin will cross $100,000 mark in 2025, emphasizing that other cryptocurrencies will follow the trend.
EzyStayz token purchasers will not only be able to trade EZY on exchanges but they will also benefit from a 25% discount on all booking fees when they pay for their vacation rental or hotel booking with the EZY token.
EzyStayz makes it easy to pay and travel using blockchain technology. James Moses, Founder & CEO of EzyStayz said the following:
“We look forward to continuing to implement innovative technology that supports both the sharing economy and expanded tourism. The EzyStayz website is the first building block of a larger exchange that will eventually target businesses and consumers with more strategic B2B tools to tap into the potential of the hospitality sector.”
Please visit the website at https://io.ezystayz.com to download the Whitepaper, Pitch Deck and other related documents.
Follow on Twitter: https://twitter.com/ezystayz2014
Subscribe on Facebook: https://web.facebook.com/ezystayzofficial/
Join our community: https://www.instagram.com/ezystayz/
Watch on YouTube: https://www.youtube.com/channel/UCDvQOHa-9pwh_PEEsgjsFWQ
Join on Medium: https://medium.com/@ezystayz
Media Contact Details
Contact Name: Sofia Sorberg
Contact Address: EzyStayz, 1/58 Pitt St, Sydney NSW Australia 2000
Contact Email: [email protected]
EzyStayz is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.
The post EzyStayz Joins Forces with DexOne to Launch New Tokens on Korean Exchange Foblgate appeared first on Bitcoin PR Buzz.
Decentralized Ethereum Dapp Ocean Pauses Contract After Kucoin Hack
An ethereum dapp that describes itself as “the decentralized Ocean data sharing network” turns out to not be very decentralized. “On Sep 25/26, over $150M worth of tokens were stolen…
An ethereum dapp that describes itself as “the decentralized Ocean data sharing network” turns out to not be very decentralized.
“On Sep 25/26, over $150M worth of tokens were stolen from KuCoin exchange, and as part of the theft, over 21M Ocean, worth over $8.6M, were taken,” they say, further adding:
“Since yesterday, we have been working to find a solution and ongoingly consulting with KuCoin.
As a first action to protect Ocean token holders, we have paused the OCEAN contract. We will update the community with more information in the coming hours.”
The hot wallet of the Asian exchange Kucoin was hacked in still unclear circumstances. Following it, Tether froze some $20 million USDt residing in the hacker’s known address.
Online commentary wondered why the hackers had not shifted through Uniswap. That’s what they did, selling chunks of 10,000 Ocean tokens on Uniswap.
That reduced the price by about 10% even though it was just 200,000 tokens out of some 20 million. So the project has now taken the unprecedented step of just freezing the contract.
The problem is there’s significant liquidity in the Uniswap market, much of it from ordinary users, with it unclear what happens to them now as the token has been frozen.
Uniswap as you might know is all on the blockchain, so the hacker can exchange assets, but all can see what he is doing and where these assets are going.
Presumably however his aim for now is to not be frozen out rather than to cash out undetected.
He might try and turn these into eth which doesn’t have a backdoor like this Ocean contract, but still can freeze his address if the entire network upgrades.
Such freeze would just deny him the assets. It wouldn’t bring them back to the rightful owners. So this is more a case for competent authorities to follow this guy and catch him after he slips somewhere. Then the assets can be returned.
Kucoin is incorporated in Seychelles, but they’re a South Korean exchange with it unclear whether South Korea’s authorities have developed the capabilities.
If this was a European exchange, Europol would probably have taken over by now and you’d think would have wanted to show its worth.
In America there would be an alphabet of agencies which do generally have the capabilities, but by comparison South Korea is small with it unclear whether they’ve had the resources to have some of their boys specialize in this sort of thing. So they might need some help.
Bullish? On-Exchange Bitcoin Declines While Whales Accumulate (Report)
A recent report suggests that the amount of Bitcoin stored on exchanges is declining while BTC whales increase their holdings and that’s bullish for Bitcoin’s price.
The paper also highlighted that investors have a much larger time horizon for their holdings now compared to previous years.
Bitcoin Stored On Exchanges Drop
In its latest report shared with CryptoPotato on Bitcoin investors’ behavior, the popular research company Digital Delphi explored the number of bitcoins stored on cryptocurrency exchanges. The document indicated that if the BTC stock on platforms increases, it could put sell pressure.
However, this isn’t necessarily the case during bull runs, as retail investors often “leave BTC on exchanges and traders use BTC as margin collateral.” Alternatively, in case the asset price rises while the stock on exchange decreases, this typically implies an accumulation trend.
The report indicated that Bitcoin stored on exchanges marked an all-time high of 2.96 million in mid-February. Since then, the trend has reversed, and the number has dropped to below 2.6 million.
Digital Delphi argued that the reason behind this decrease of BTC on exchanges is because investors are most likely preparing for a longer-term holding period. More importantly, though, the paper highlighted a substantial decline in speculative trading interest in Bitcoin, while the HODLing mentality has increased.
“Unlike the 2019 price uptrend, which coincided with BTC stock increasing, this current trend has seen a divergence between BTC stock and price. This suggests a more sustainable move upwards for BTC, in comparison to that of 2019, as data indicates a holder base with longer time horizons.”
Bitcoin Whales Haven’t Slowed Down Accumulating
Digital Delphi’s data reaffirmed previous reports that Bitcoin whales, meaning addresses containing between 1,000 and 10,000 BTC, continue to accumulate large portions. The company outlined that whales have been on a shopping spree since the start of 2020, as their holdings have increased by 9% YTD.
Moreover, the US Federal Reserve’s actions to print extensive amounts of dollars since the start of the COVID-19 pandemic have accelerated whales’ accumulations.
“Since the USD M2 supply expansion in March, there has been a 7% increase in whale holdings.”
According to the document, this only emphasizes the narrative that Bitcoin serves as a hedge against dollar inflation, and “the smart money is clearly betting on this.” It’s worth noting that prominent US investor Paul Tudor Jones III purchased BTC earlier this year to protect himself against precisely the rising inflation.
US Crypto Tax Avoiders Beware: The IRS Updates 1040 Tax Form
The Internal Revenue Service (IRS) seems to have found a way to block crypto tax evasion, following an update of its tax form.
IRS: No Excuses for Crypto Traders
According to the Wall Street Journal on Friday (September 25, 2020), the IRS is planning to alter its 1040 tax form. The revised tax form will see cryptocurrency holders give a straight answer about their crypto activities.
The IRS has been relentlessly pursuing crypto investors to disclose transactions, as it suspects that many taxpayers were guilty of tax evasion. However, the tax administrator looks like it has found a way to make all Bitcoin holders accountable.
Presently, the tax form will mandate crypto traders to answer a” yes or no” to the following question:
“At any time during 2020, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?”
What makes the update interesting is the placement of the above question. Prior to the revised tax form, the question appeared in a section where taxpayers were not mandated to fill the answer. However, the question’s position in the altered tax form just below the taxpayer’s name and address leaves no room for excuses or oversight on the part of the crypto trader.
Reacting to the altered form of 1040 was Ed Zollars:
“This placement is unprecedented and will make it easier for the IRS to win cases against taxpayers who check ‘No’ when they should check ‘Yes”
There have been complaints in the past about the lack of a robust regulatory framework for crypto tax filings. In October 2019, the IRS published new tax guidelines that would supposedly make it easier for crypto investors to file taxes. The U.S. tax agency also sent reminder letters to crypto holders. Earlier in September, the IRS announced a payment of $625,000 to anyone who could crack Monero and Bitcoin’s lightning network.
Governments Keen on Crypto Taxation
While the IRS seems to have devised a means to trap crypto holders, more countries are introducing crypto tax laws and clamping down on offenders.
As reported by CryptoPotato in April, Spain’s tax administrator sent out notices to 66,000 crypto investors, as against the 14,000 notices sent in 2019. South Korea, on the other hand, has been unsteady about taxing cryptocurrency.
Earlier in 2020, South Korea’s Ministry of Finance and Strategy revealed that there were no intentions to tax crypto profits. However, reports emerged that the Ministry was considering imposing a 20% tax on profits from crypto trading. In June, the country’s Finance Minister called for the imposition of tax on cryptocurrency trading gains.
Australia’s tax agency, the Australian Taxation Office (ATO), sent out reminders to 350,000 crypto traders in March about their tax obligations. According to the ATO, crypto investors were to keep a comprehensive record of their trading activities for ease of tax payment.
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