Summary

Going into 2016 it will be important for traders to refine their targeting skills, since the sell-offs often retrace large price distances that can wipe out profit that have not been locked in by a suitable technique. xbt.social focuses on getting traders into the most certain advancing waves and keeping profits secured whatever the eventual target.


https://www.cryptocoinsnews.com/bitcoin-price-bubbling-500-fed-rates-lift-off/

Digital cryptocurrencies like Bitcoin may have failed to unseat their more traditional rivals, but the technology that underpins Bitcoin may yet bring about a revolution in finance and other industries. This technology is called the “blockhain”.

The blockchain acts as a public database or ledger, and is the technology that stores the details of every exchange of bitcoins. What makes it particularly clever is that it is designed to stop the same bitcoin being spent twice, without the need for a third party (like a bank).


http://theconversation.com/bitcoin-might-not-change-the-world-but-the-blockchain-that-makes-it-work-might-52516

Banks across the world are set to significantly increase spending on new payment technology in 2016, according to a new report from Ovum, the independent technology firm.

Driven by increased emphasis on security, changing consumer behaviour, and new technologies – such as Blockchain, mobile payments, and real-time payment transactions, almost two in three (61%) banks globally will increase their spending on payment technology next year.
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Blockchain technology to revolutionize the payments landscape

As attention moves away from Bitcoin as a currency and towards the longer term use of distributed ledger technology, Ovum’s report emphasizes how enterprises from banks to merchants need to get to grips with this technology now. Blockchain and distributed ledger technologies are finally approaching practical applications as the regulatory environment begins to become clear.


http://www.theasset.com/treasury/30558/banks-to-boost-spending-on-payment-technologies-in-2016

The price of Bitcoin is going through a downward cycle and the culprit seems to be China all over again. The country is still doubtful regarding the status of the digital coin and the uncertainties are causing the price of the world’s most famous digital coin to go down.

However, an announcement made this Friday (11) by the People’s Bank of China (PBOC) stating that new cryptocurrency-related statements would be issued in order to clarify the central bank’s position caused the price of Bitcoin to recover from $380 to a bit over $420.


Recorder Journal http://recorderjournal.com/2015/12/17/quot-it-is-out-of-the-question-banning-bitcoin-quot-says/

Bitcoin is trading little changed after a jittery reaction to today’s FOMC meeting. Prices first fell from $455 to a low of $447.13 ten minutes after the announcement. But from here we quickly rallied to a high of $460 flat, only to sell off again to the $455 handle. We are currently quoted at $455.53 dollars per coin.

Bitcoin rarely reacts to news in traditional financial markets. The only major reaction I can think of at the top of my head would be this 8 percent crash back in July after the Greek bailout deal was announced. In the lead-up to the crash it was speculated that the bitcoin rally was due to ongoing drama in the Greece/EU negotiations. But that sell-off could’ve just as easily been due to panicked traders who bought into the media narrative.

http://www.forexnews.com/blog/2015/12/16/bitcoin-flat-after-jittery-fomc-reaction/

Bitcoin Price Key Highlights

Bitcoin price is regaining ground after its sharp pullback to the 100 SMA earlier on this week.
Using the Fibonacci extension levels on the latest correction move suggests that bitcoin price might even exceed its yearly highs if bulls stay in control.
Bitcoin price could aim for the next Fib extension levels on its current rally, although market event risks could pose challenges.

http://www.newsbtc.com/2015/12/16/bitcoin-price-technical-analysis-for-16122015-bulls-setting-targets/

Japan's SBI Sumishin Net Bank has announced it will develop a proof-of-concept (POC) aimed at exploring blockchain banking with Nomura Research Institute (NRI).

While details about the project are scarce, NRI said it will seek to "examine business scenarios" with the goal of preparing a prototype for SBI Sumishin.

Dragonfly Fintech Pte, a blockchain firm founded by one of the core developers of the cryptocurrency project New Economic Movement, will serve as the project's blockchain tech provider.



http://www.coindesk.com/japan-bank-sbi-sumishin-blockchain-proof-of-concept/

Microsoft's Azure cloud computing platform is set to integrate several new industry services when it formally launches its blockchain-as-a-service marketplace option next year.

Eris Industries, Factom and CoinPrism have partnered with Microsoft, according to a 15th December blog post. The platform had previously announced support for Ethereum and has been looking into integrating Ripple's Interledger protocol.


http://www.coindesk.com/microsoft-azure-announces-new-offerings-for-blockchain-as-a-service-platform/

The wider adoption of blockchain technology by financial incumbents is likely to take place over four stages according to a new report by business management consultant firm McKinsey & Company.

Entitled "Beyond the Hype: Blockchains in Capital Markets", the report states that blockchain technology will "dramatically reshape the capital markets industry", impacting business models, cost savings and capital requirements in the sector.

http://www.coindesk.com/mckinsey-four-stages-blockchain-adoption/

The Times explained:

"The draft proposes setting financial conditions that virtual currency exchange operators should meet, such as a certain amount of capital, and requiring them to manage customer assets separately from their own corporate assets. In addition, it calls for introducing a mandatory system for exchange operators to undergo external checks by certified public accountants or auditing firms for their asset management conditions and financial statements."

read detail : http://www.coindesk.com/japan-draft-regulation-bitcoin-exchanges/

The technology underpinning the bitcoin digital currency could revolutionise the way in which charities operate by cutting transaction costs and ensuring more money goes to worthwhile causes, according to the Charities Aid Foundation.
Greater transparency provided by the “blockchain” technology — effectively a public ledger managed by a third party — would allow donors to track more effectively how their money was being spent, a CAF report found.


http://www.ft.com/cms/s/0/cf6644e8-a33f-11e5-bc70-7ff6d4fd203a.html

While the world looks to label Bitcoin for all of the things it isn’t–as a major financial mechanism of terrorism, or a smart way to perform money laundering–let’s take a look at one of the paths it does take. The charitable donation, for example. The charity industry has had their own public relations issues over the last several years for many fly-by-night organizations turning out to be full-on scams, like some alleged “Bitcoin exchanges” of days gone by. Bitcoin’s digital currency and its blockchain public ledger are seen as a way to improve not just the efficiency of corporate banking interests, but also smaller operations like charities.

http://www.newsbtc.com/2015/12/16/bitcoin-future-charity/

How It Works

Under “settings” in the Airbitz app is an option to select “buy/sell/spend.” The settings are on the left side for Android devices and on the right side for iOs. Users can then select either up to 20% off on Starbucks or 20% off on Target. Funds can be added by selecting the desired amount for a gift card. Leftover funds can be credited back to the Airbitz app.

Starbucks customers can load bitcoin onto the Fold app, which then transfers the purchase amount from the customer’s bitcoin wallet to a virtual Starbucks gift card. The customer then takes their smartphone to Starbucks and has the barcode scanned by a barista. Fold sends refunds to the customer’s wallet.

https://www.cryptocoinsnews.com/airbitz-integrates-fold-app-enabling-bitcoin-payments-starbucks-target/

In this morning’s bitcoin pricewatch article, we noted that – as a result of the recent selloff – we would be wary heading into today’s action. The bitcoin price collapsed last night, likely not as the result of any underlying fundamental pressure but simply on the back of individual speculators taking profits at weekly highs. Regardless of the reason, however, we were uncertain how long the selloff would last. Whether the correction seen earlier this afternoon was just a gap-filler, or whether it was indeed a longer term correction was the primary question. Whichever way the bitcoin price went, however, we were ready to respond using the key levels outlined as part of our intraday breakout strategy. As we head into tonight’s Asian session, however, what are the levels we are looking at in tonight’s bitcoin price market, and where will we look to trade on any volatility? As always, grab a glance at the chart below to get an idea of our focus range.


http://www.newsbtc.com/2015/12/16/bitcoin-price-choppy-live-trade-on/

A group of Bitcoin developers along with the makers of btcsuite have, in an announcement today, revealed that they are building Decred, an alternative digital currency. The project, according to the press release, is seen as one to address “the issues of project governance and development funding” that is seen as prevalent in Bitcoin today.

Citing concerns of an increasing centralization of power in the Bitcoin project and the prioritization of interests of those who fund the project, a group of Bitcoin developers and the creators of btcsuite have started building a new, alternative currency called Decred.


https://www.cryptocoinsnews.com/bitcoin-developers-are-creating-a-new-digital-currency-called-decred/

[Bitcoin At Tax Time: What You Need To Know About Trading, Tipping, Mining & more]

Bitcoin At Tax Time: What You Need To Know About Trading, Tipping, Mining & more
If you have come into possession of Bitcoin or any other digital currency such as Ripple or Litecoin that is “convertible” to a real currency or can be used to pay for goods and services, it may seem virtual. But the Internal Revenue Service considers it very real and you need to account for it at tax time.

“If you’re not doing the accounting [on your digital currencies], you are on the line for tax evasion or misfiling,” says Jake Benson, CEO and founder of Libra Tax, which offers accounting software for digital currencies. “The reason you’d want to account for your Bitcoin and the gains and losses is the exact same reason you need to do it when you trade stocks. If you don’t, you’re breaking the law"



http://www.forbes.com/sites/laurashin/2015/12/16/bitcoin-at-tax-time-what-you-need-to-know-about-trading-tipping-mining-and-more/

he price of bitcoin is rallying once again, spiking abruptly by $16.50 across major exchanges on the CoinDesk USD Bitcoin Price Index over a 15-minute period yesterday.

The movement began at 23:15 and ended at midnight UTC when the price hit a high of $418, with the largest movements taking place from 23:15 to 23:30.

At press time, prices were once again on the rise, pushing the price to a one-month high of $421.83, its highest total since 5th November.



http://www.coindesk.com/satoshi-nakamoto-unmasking-might-be-driving-bitcoins-price-rally/

[Reported bitcoin 'founder' Craig Wright's home raided by Australian police]

Reported bitcoin 'founder' Craig Wright's home raided by Australian police



Police have raided the home of an Australian tech entrepreneur identified by two investigations as one of the early developers of the digital currency bitcoin.

On Wednesday afternoon, police gained entry to a home belonging to Craig Wright, who had hours earlier been identified in investigations by Gizmodo and Wired, based on leaked transcripts of legal interviews and files. Both publications have indicated that they believe Wright to have been involved in the creation of the cryptocurrency.

More than 10 police personnel arrived at the house in the Sydney suburb of Gordon at about 1.30pm. Two police staff wearing white gloves could be seen from the street searching the cupboards and surfaces of the garage. At least three more were seen from the front door.

https://twitter.com/guardian/status/674434111361130498
http://www.theguardian.com/technology/2015/dec/09/bitcoin-founder-craig-wrights-home-raided-by-australian-police?CMP=twt_gu

Darin Stanchfield is in the currency security business in Bothell, but instead of riding shotgun in an armored car or investigating counterfeit money, he deals with Bitcoins.

Bitcoin is a cryptocurrency, meaning it exists solely online without any central regulation. Their value fluctuates based on demand, and produced at a predictable pace to avoid inflation.

People who want to use Bitcoins can buy into the currency at various websites, exchanging hard currency like the US dollar into an equivalent portion of coins. One Bitcoin is worth roughly $360 today. Prices peaked in 2014 when the price of a single Bitcoin reached nearly $1,200.


http://www.bothell-reporter.com/news/360976141.html

Recent reports indicate that Bitcoin mining firm, BitFury has been hit by a lawsuit coming from its former chief financial officer (CFO), Mikhail Golomb.

Court documents point out that the lawsuit was initially filed in April, when Golomb alleged that he was fired improperly by the company, in such a way that BitFury wouldn’t be needed to award him 2% of the business, as a form of equity compensation.

Newly pulled files indicate that the bitcoin mining company is valued in excess of $500m, which means that the shares owed are worth around $10m.

Together with this, Golomb has accused the company of denying him compensation for unused vacation time and bonuses, but also of contractual severance. The former CFO who earned $240,000 for his position is looking forward to a jury trial, where he would like to obtain damage compensations of $10,000 alongside with the afferent attorney fees.

http://themerkle.com/news/bitcoin-mining-firm-bitfury-involved-in-lawsuit-with-ex-cfo/