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Bitcoin price, over the weekend, unfolded five declining subwaves and should now advance. The prevailing pattern of price shows similarities to a pattern at the end of January (prior to consolidation) and another in mid-February (prior to advance). This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 04h45 UTC Bitfinex 15-Minute Chart  From the analysis pages of xbt.social, earlier today: Bitcoin price has made five declining subwaves and should now advance. Advancing in 5 waves to the purple 800MA near $286 will be a sign that a new advance has begun. Three waves of advance that fall short of the 800MA will warn us that the current sideways structure is incomplete or that decline may resume. read further https://www.cryptocoinsnews.com/bitcoin-price-successfully-tests-support/ |
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Currently ranked fifth on the CoinATMRadar list for most Bitcoin ATM's, Czech Republic based General Bytes has positioned itself to succeed in the Bitcoin ATM market. Some of the most stable companies, for sure, have received the least amount of press. General Bytes appears to be one of those. The company stepped up amid the Robocoin crisis to bail out some of the embattled company's operators and has been reputable. General Bytes (GB) develops Android and Bitcoin technologies, focusing on Android because it is the leading platform for phones and tablets. The firm strives to bring Android technology to other devices and machines due to its strengths, such as being built on Linux, being open-source, as well as benefitting from the millions of developers in its community. The first Bitcoin related technology the firm developed is the BATMOne, which the firm has discontinued to make room for its updated BATMTwo and BATMThree. The BATMTwo is a unidirectional platform which distributes coins from a wallet or crypto-exchange, with point-of-sale integrated and a remotely manageable interface. The machine offers AML and KYC in the form of fingerprint or SMS verification. The BATMThree is the bi-directional version of GB’s Bitcoin ATM. The firm currently supports the altcoins Litecoin and Dogecoin, as well as others. Kyovsky first heard about Bitcoin from friends in the hackerspace who were mining on GFX cards. Soon he heard about the development of Bitcoin ATMs. read more https://www.cryptocoinsnews.com/hq-prague-general-bytes-rising-bitcoin-atm-ranks/ |
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Visa’s (V) network can process 56,000 payments per second. Bitcoin can handle about 7, or if you believe Dave Hudson, more like 3. For those who would like to see Bitcoin adopted by a significant portion of the population, this is a problem. Increasing the block size could solve this issue, but it has its own drawbacks which could be equally or even more detrimental to Bitcoin’s purpose than the status quo. The ideological rifts this dilemma opens up are beginning to look like a Cold War: one false move could nuke the whole project. Skip This Section If You Know How Bitcoin Works In case you need help with the terminology before we get into the specifics, here’s a rundown of how Bitcoin currently works. Bitcoin is an open-source software developed by an individual or group called Satoshi Nakamoto and released in 2009. It is a decentralized payment system or cryptocurrency that operates using a neato technological innovation called the blockchain. Read more: http://www.nasdaq.com/article/the-cryptocold-war-bitcoins-politics-of-scalability-cm497963#ixzz3gS6Fv9ty |
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Bitcoin services firm Coins.ph has launched Teller, a mobile app that matches up its customers in Indonesia, the Philippines and Thailand via the blockchain as a way to facilitate financial services. Teller users who want to access funds for mobile phone top-ups and remittances, for example, can use the app to find a third-party seller to accept local currency, allowing the buyer to gain access to digital money. All transactions are denominated and held in local currency, with Coins.ph using the blockchain as the rails to facilitate the exchange of funds. Coins.ph CEO Ron Hose indicated that he sees Teller as the next step in the company's mission to move money services "off the financial grid" in the Philippines. The launch is the latest for the platform, which also offers merchant payment processing and the ability for customers to withdraw bitcoin funds into cash at select bank ATMs. Hose told CoinDesk: "We’ve been getting really good traction with our existing bills, payment and money transfer services after shifting to using blockchain in the background. We think this is the natural progression as far as being able to reach customers." read further at http://www.coindesk.com/coins-ph-abra-style-bitcoin-app-southeast-asia/ |
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BlockCypher provides Bitcoin wallet services to larger organizations such as exchanges and payment providers. During the recent fracas of "dust" transactions crowding the Bitcoin network, one of their larger clients, Erik Voorhees' ShapeShift.io, suffered a double-spend attack amounting to 2.6 BTC. The biggest offering of BlockCypher is what they call a "Confidence Factor" which basically means what it sounds like – if the processor is reasonably sure (as in more than 99%) that a double-spend will not be attempted, the transaction is processed with zero confirmations. Read further at. https://www.cryptocoinsnews.com/blockcypher-zero-confirmation-bitcoin-transactions-still-viable/ |
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Bitcoin flashed crashed on the BTC-E platform, falling close to 30 percent before recovering completely. The crash happened on a large sell order for several thousand coins. It’s unclear why the owner decided to dump the entire lot on the open market. The usual rumors are abound, ranging from a bug to a hacked account or a fat finger mistake. The exchange hasn’t published any news about the event so I assume they’re treating it as legitimate trading. - See more at: http://www.forexnews.com/blog/2015/07/19/bitcoin-flash-crashes-on-btc-e-other-exchanges-stable/#sthash.OqedsWQV.dpuf |
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The recent media storm about Hacking Team has shed light on some things most people would have rather never known. And despite all of the negative parts, there are major companies still showing a legitimate interest in hacking Team and what they can bring to the table. Building more drones to inject spyware through Wi-Fi networks is just one of the many possibilities. Read full article at http://bitcoinist.net/installing-spyware-drones-lead-linking-people-bitcoin-address/ |
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Soledad Rodríguez Pons admits she had no idea what bitcoin was when it was suggested to her two years ago that the digital currency could provide a neat way of dodging Argentina’s strict capital controls. “I was suspicious at first,” says the 29-year-old owner of a budget hostel in Buenos Aires. “But I took the risk, and it was well worth it,” she adds, explaining that she takes credit-card payments from foreign tourists in return for the digital currency. At the moment, she can sell her bitcoins on Argentina’s unofficial currency market for 50 per cent more than she would get at the official exchange rate. The prolonged use of capital controls in Argentina since 2011 has wreaked havoc for businesses operating in South America’s second-largest economy — not only restricting access to foreign currency and leading to a heavily overvalued official exchange rate, but also exacerbating economic stagnation and double-digit inflation. Read full article @ http://m.ft.com/cms/s/0/b2a8cca4-2c11-11e5-8613-e7aedbb7bdb7.html |
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The Factom Foundation has launched its Release Candidate One (RC1) on the Bitcoin Testnet. Developers are invited to try out this early version of the highly anticipated blockchain data layer. In what is probably one of the most notable Bitcoin 2.0 projects in the space, Factom is building an open-source data layer for the Bitcoin blockchain. It can be used by anyone to permanently store all sorts of data on the decentralized computing network. Some of the most notable parties that have so far indicated they will use Factom include land registry startup Epigraph and the Honduran government, and cloud storage solution Storj. Speaking to CoinTelegraph, Factom's Chief Marketing Officer Tiana Laurence explained: “There's a ton of entrepreneurs and programmers in this space, and a lot of these guys are kind of depending on us. We are the missing link for several companies, providing them with an anchor into the blockchain in a really efficient and cheap way. They are hoping that we finish as soon as possible, so that they can launch what they are doing.” read full article @ http://cointelegraph.com/news/114894/factom-launches-release-candidate-one-on-bitcoin-testnet |
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Snapcard.io is a San Francisco-based company founded in 2013. Snapcard main focus is to help bring liquidity to the digital currency community while helping consumers to easily spend their digital currencies. The company offers a suite of products and services which are designed to make it easy for the average consumer or business to use Bitcoin and alternative decentralized digital currencies. The company had to rethink the way that merchants accept digital currency and made their focus to help marketers understand the value of accepting digital currencies while teaching to deal with them. Today, Snapcard announced a partnership with Ifeelgoods an advertisement, retail and payment company. Snapcard is now signing a partnership with Ifeelgoods, a leading digital gifting platform. read full article @ http://insidebitcoins.com/news/snapcard-partners-with-ifeelgoods-and-enables-bitcoin-to-its-rewards-catalog/33710 |
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Potential Use Cases for Bitcoin Users? Creating an internet connection that can be accessed from anywhere in the world sounds like a great idea, even though the number of use cases for Bitcoin users is fairly limited at this point. Granted, people often complain Bitcoin could use a bit more privacy protection, and devices like these may be a means to that end. However, these devices do not directly solve the major problem facing most parts of the world where Bitcoin could make a splash. Areas such as Africa and large parts of South America have little to no internet connectivity to begin with, and these devices cannot help in that regard. However, they do set a precedent for future revisions of these devices, which could be used on a larger scale. read full article @ http://bitcoinist.net/remotely-proxied-internet-connectivity-boost-bitcoin-adoption-oppressive-nations/ |
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As the popularity of bitcoin increased, it started appearing as a threat to conventional banking industry. The threat combined with lack of clarity regarding bitcoin regulations has got many banks across the world refusing their services to bitcoin based businesses and bitcoin users. As the bitcoin adoption has still not crossed the threshold, people are forced to use traditional banking services to complement their bitcoin transactions. There have been many instances in the past where banks have frozen their customers’ bank accounts for dealing with bitcoin. Even many bitcoin companies have been refused service by banks across the world, while those with existing accounts were forced to look for other bankers. These instances have bred scepticism among bitcoin community regarding traditional banking sector. read full article @ http://www.newsbtc.com/2015/07/19/can-buy-bitcoin-ing-retracts-its-statement-on-twitter/ |
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When customers visit David Ayyash’s ChickPea in the D restaurant downtown, instead of pulling out a credit card or dollar bills, they can pay with a completely digital currency that’s not backed by any bank or government: Bitcoin. Ayyash takes a customer’s payment by generating a code from his tablet, then shows it to the customer before scanning it. The customer then sends the payment over to Ayyash electronically, not from his credit card or PayPal account, but from his cache of bitcoins. Ayyash started accepting Bitcoin in early June to offer his customers more payment options as well as to “make customers happy.” read full article @ http://www.freep.com/story/news/local/2015/07/17/bitcoin-retail-detroit/30323319/ |
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Two of the industries most historically owned by the government are now venture capital targets—money and spaceships. According to Mattermark data analyzed by Tomasz Tunguz of the venture capital firm Redpoint, bitcoin and space travel were two of the four fastest-growing areas for startup investment in the past three years. The seven fastest-growing investment areas have seen funding levels double every year on average since 2012, according to this data. However for some of these, it’s partially a result of the level of investment in those areas. Bitcoin-related startups received just 0.18% of all startup funding in the last 12 months, and space travel just less than 1%. Mathematically, it’s “easier” to grow fast when investment is low. read full article @ http://qz.com/457818/bitcoin-space-travel-venture-capital-funding/ |
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According to a latest report from International Business Times, the Bank of England has said that central banks are looking to utilize the blockchain technology, the technology behind the cryptocurrencies such as Bitcoin to create “hybrid systems.” The Bank of England said: “There is more than one way in which a distributed ledger system can work, and remuneration would have to be designed in such a way as to incentivise honest participation in the system without leading to socially inefficient over-investment in transaction verification.” “Further research would also be required to devise a system which could utilize distributed ledger technology [blockchain] without compromising a central bank’s ability to control its currency and secure the system against systemic attack.” read full article at http://www.newsbtc.com/2015/07/17/bitcoin-technology-to-create-hybrid-systems/ |
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Bitcoin trade bought price up from a low of $272 and 1660 CNY yesterday. At the current level near $280 and 1720 CNY price is in an indeterminable state of trend. Analysis looks for direction and an action plan for taking a position in the market. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. read full article at https://www.cryptocoinsnews.com/bitcoin-trade-waiting-market-direction/ |
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The global financial industry continues to study the block chain with increasing vigor. The SWIFT Institute, a La Hulpe, Belgium-based financial research organization, is seeking proposals for a pair of research grants on block chain capabilities.
Each 15,000 EUR grant is for block chain research, one in securities and the other in intraday liquidity. Proposals must be submitted by Aug. 7. In each case, the institute will pay half of the 15,000 euros immediately and the balance on acceptance of a working paper.
The institute will publish each working paper to the global financial industry while the authors will be free to submit the papers to publications.
The SWIFT Institute seeks to improve the understanding of current practice and future needs in global financial services, with a focus on transaction banking.
Grant applicants can access guidelines for each proposal on the institute’s website.
Read full article :https://www.cryptocoinsnews.com/global-financial-research-institute-seeks-grant-proposals-block-chain-capabilities/
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| Published on July 15, 2015 at 13:47 BST FEATURE
bitcoin in greece
As the Greek Parliament readies to vote on a third bailout agreement today – which would inevitably seal the country's fate within the eurozone – there's still a steady stream of media reports suggesting bitcoin could prove useful to Greek citizens.
Although it's difficult to quantify whether the economic crisis has driven Greeks to purchase the digital currency, perhaps the more important question to ask is this: Have recent events even increased awareness of bitcoin in Greece?
One man's wish
Nikos Houtas owns Tavern Agelos – a traditional Greek restaurant opened by his father 20 years ago – and thinks "virtual currencies are the future".
Bitcoin is not new to him. His restaurant has been accepting payments in the digital currency for three years, after Houtas was introduced to bitcoin by an American friend.
Payments in the cryptocurrency, Houtas said, are still few and far between, but he hopes this will soon change.
Currently offering customers paying with bitcoin a 20% discount, Houtas told CoinDesk:
"No one in Greece has asked me whether I accept bitcoin, but I hope that this will change due to the capital controls. Bitcoin has the potential to be successful in Greece, we need more stores to accept bitcoin and to offer a discount for bitcoin payments."
The few bitcoin payments he has received have mainly come from European tourists, with the average transaction amounting to €10.
Cracking the market
A recent Ask Me Anything (AMA) session Houtas took part in on reddit was well received by the bitcoin community. Inundated with offers from fellow bitcoin enthusiasts, Houtas was particularly taken with a proposal from a bitcoin ATM operator.
Commenting on reddit, Eric Grill, CEO of Coinoutlet, offered to meet with Houtas and discuss the possibility of installing a bitcoin ATM machine in his restaurant. Although the two have yet to meet, Grill told CoinDesk:
"I do think bitcoin ATMs will be successful even if capital controls are lifted. The Greek people are now aware that the money they relied on is not under their control and can be used against them."
Coinoutlet, however, is not the first company in the space to focus on the Greek market during the country's economic turmoil. Amid increasing speculation that people within Greece – fearing their country would crash out of the euro – had been buying bitcoin and inadvertently driving the the digital currency's price, some bitcoin exchanges waived fees for EUR/BTC transactions.
Other bitcoin ATM operators, such as Bitchain, are also attempting to crack the Greek market. Having installed a bitcoin ATM last weekend, J. Fenoy, CTO and co-founder of Bitchain, said he witnessed reasonable demand for bitcoin it the first couple of days since the machine's launch.
"We have been pleasantly surprised by peoples' response. In the last two days, the working ATM machine has completed over 70 transactions and the support from the bitcoin community has been overwhelming."
Bitchain has also temporarily waived commission fees.
Meeting the Greek bitcoin community
Bitcoin Community Greece held the first ever bitcoin meetup in Athens yesterday. According to founding member Miriam Liapi, incoming information requests on the group's Facebook page have soared by 423% in recent times.
Some of these requests portray concerns over the safety of bitcoin transactions and generally seek more information about the different ways in which the digital currency can be purchased. Exploratory enquiries, she added, are also flooding in from companies curious about how Greeks are surviving in the wake of the capital controls.
While it seems awareness of bitcoin has increased in the country, Liapi isn't convinced this is behind the recent increase in the price of bitcoin.
"I am convinced that we are experiencing a new kind of war, a noiseless financial war ... I think the Greek crisis, amid other financial crises during this period, awakened citizens' fears about who is going to be next ... The citizens around the world have every reason to fear that their country might be next. This is where I attribute the rise of bitcoin's price. Not to the Greeks who, according to academic research, are late adopters," she said.
bitcoin meetup athens
Athens' first ever bitcoin meetup, held yesterday. Image via: imgur
Spreading the word
Liapi believes more education is needed in order for bitcoin to reach mainstream adoption, a sentiment shared by Felix Weiss, a freelance programmer originally from Luxembourg, who is currently on a mission to raise bitcoin awareness in Greece.
"There's still a lot of scepticism towards new technology in general," Weiss said.
He has devoted time recently to handing out bitcoin flyers to people protesting outside the Greek Parliament in Athens. What he learned during the exercise is there is a burgeoning interest in the digital currency.
bitcoin in greece flyer
Weiss hands out bitcoin flyers during a demonstration on Syntagma Square, outside the Greek Parliament. Image via Weiss.
"Lots of questions were asked ... [but] unfortunately it's not easy to explain bitcoin in five minutes," he said.
Nevertheless, he still has still hope, explaining:
"Bitcoin can now show people that they don't have to fight the old system. The solution is to stop using central bank issued paper bills and start using free, open source money: bitcoin."
It's safe to say bitcoin has entered the spotlight once again, with numerous news headlines suggesting the people of Greece are turning to it in their droves.
In reality, there are few hard facts to indicate that understanding, acceptance and adoption of bitcoin have significantly increased in the country over the past month. The country's existing advocates are trying their best to push the agenda, but it seems there is still a long way to go.
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North Carolina State House
A legislative bill that would cover bitcoin and digital currency related business activities has advanced in the North Carolina Senate.
According to the The Associated Press, the Senate Commerce Committee gave its stamp of approval to SB 680, which was originally filed in March. The bill passed in the North Carolina House of Representatives by a wide majority of 117-1 in May.
As noted by a spokesperson for the North Carolina's Commissioner of Banks at the time, the bill – which amends the state's Money Transmitters Act – covers any activity "involving a personal, family or household purpose".
The bill was framed as an effort to make the agency's oversight of the digital currency sector more robust, as it believed existing statutes already outlined how it would go about supervising such activities.
If passed and signed by North Carolina Governor Pat McRory, the bill would mandate minimum net worth requirement of $250,000 for applicants. Businesses would also be required to post a surety bond of $150,000, an amount subject to change based on future transaction volume.
SB 680's primary sponsor is State Senator Rick Gunn. The House version of the bill submitted by State Representative Stephen M Ross, who also acts as a vice president and investment officer at Wells Fargo.
Notably, some senators reportedly took issue with the idea that digital currencies are not backed by any institution, according to the AP report.
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