| The World News , 22 May

The World News
📺 22 May 📺

Happy Bitcoin Pizza Day!

"Today, May 22, marks the eighth annual Bitcoin Pizza Day, commemorating an important milestone in the journey to mainstream bitcoin adoption.

On this day in 2010, Florida-based programmer and early cryptocurrency enthusiast Laszlo Hanyecz enshrined his name in bitcoin lore by paying someone 10,000 bitcoins to order him two pizzas from his local Papa John’s restaurant. The purchase is believed to have been the first time that bitcoin was used in a real-world transaction. Today, those coins are worth nearly $82 million"

_{Read more:
https://www.ccn.com}

Big Investors Not Scared by Bitcoin Price Drop, Cryptocurrency Inevitably Replaces Fiat

"Avi Salzman, a senior editor for Barron’s magazine, released a report this week featuring big money investors and executives from the rapidly growing cryptocurrency sector who generally believe, despite the recent bitcoin price drop, cryptocurrency will inevitably replace fiat.

Inevitable Outcome
Over the past five months, the valuation of the cryptocurrency market has dropped by more than 55 percent, from $829 billion to $372 billion. In January, at its peak, the valuation of the cryptocurrency market nearly reached a trillion dollars as blockchain projects still in their infancy and testnets such as Tron and EOS surpassed $17 billion.

Since then, the price of most cryptocurrencies like bitcoin, Ethereum, Bitcoin Cash, EOS, and Ripple have more than halved. Naturally, as the valuation of the cryptocurrency market fell by large margins, an increasing number of investors have started to lose interest in the market and confidence in the short-term rally of both major and emerging cryptocurrencies. But, regardless of the massive correction, big investors are still extremely optimistic and bullish."

_{Read more:
https://www.ccn.com}

India May Levy 18 Percent Tax on Cryptocurrency Trading Starting July 2018

"India, the world’s second-largest country by population, may soon give a glimmer of hope to cryptocurrency investors after months of propagating a negative agenda against the digital asset class.

Move Subject to Council’s Approval
As reported on Bloomberg, India may soon levy an 18 percent Goods and Services Tax (GST) on cryptocurrency trading, notwithstanding their legal ambiguity in the country. Currently, the proposal is being considered by the Central Board of Indirect Taxes and Customs, and shall be presented before the GST council after it’s finalized.

As stated, the digital asset could be classified under “intangible goods,” on par with other software systems, with the authority adding that separate laws would be introduced to deal with the usage of cryptocurrencies for criminal activities.

Previously in December 2017, CCN reported on the Indian government’s crackdown on the cryptocurrency market, which saw both exchanges and traders scrutinized for dealing with and making money on digital assets. Legal authorities also sent a tax notice to over 500,000 traders, in a bid to collect huge taxes from their gains.

In April 2018, the Reserve Bank of India practically killed the cryptocurrency industry in the country, as it passed a statement asking all banks to withdraw their relationships with all cryptocurrency exchanges, including ending all banking services within three months of the directive."

_{Read more:
https://www.ccn.com}

Bitcoin Pizza Day: 8 Years Later – Where Can You Buy Pizza With Bitcoin?

"Bitcoin Pizza Day is celebrated annually by the Bitcoin and cryptocurrency community - marking an important, yet comical milestone for the virtual currency.

8 years ago, a user paid for two pizzas using Bitcoin, in what is hailed as the first ever instance that the cryptocurrency was used to pay for goods.

The moment is immortalized online in a Bitcointalk.org forum, where a programmer called Laszlo Hanyecz confirmed that he’d bought two pizza for 10,000 BTC from Papa John’s Pizza in America.

Hanyecz had initially solicited users in the forum to deliver two pizzas for 10,000 BTC, with a number of users offering to buy the pizzas online for him. Eventually a teenager named Jeremy Sturdivant, nicknamed Jercos, accepted the Bitcoin and sent Hanyecz two pizzas from Papa John’s.

On 22 May 2010, Hanyecz announced that he’d accomplished his outlandish goal.

At the time, as pointed out by another user in the thread, 1 Bitcoin was worth around 0.0041 meaning Hanyecz’ 10,000 BTC were worth a lowly $41. Today, the original value of a single Bitcoin pizza, $20.5, would cost you 0.0025 BTC, a staggering display of how much the value of the cryptocurrency has grown in the space of 8 years."

_{Read more:
https://cointelegraph.com}

PAYPAL: WE’LL ‘DEFINITELY SUPPORT’ BITCOIN IF IT BECOMES ‘BETTER CURRENCY’

"The CFO of PayPal defended the case for fiat merchant settlements Monday, telling mainstream media the company could nonetheless “definitely support” Bitcoin in the future.

CFO RAINEY POINTS FINGER AT VOLATILITY
Speaking to CNBC in an edition of the network’s Mad Money segment, John Rainey, PayPal’s CFO, claimed that volatility was the reason PayPal did not “see a lot of interest” from its merchants regarding cryptocurrency acceptance."

_{Read more:
http://bitcoinist.com}

Taylor Crypto Trading ICO Hacked Out of $1.5 Million Worth of Eth

"A small and very new project working on developing a crypto trading app, was hacked on or around May the 20th, with 2,578.98 eth stolen and 659,000 Tay tokens.

The stolen eth was the entire amount they raised in or around February in an ICO, with the hacker so seemingly looting everything"

_{Read more:
https://www.trustnodes.com}

![taylor-app.png]()

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