Latest posts of: hendra147

to recent reports, it seems like the Bitcoin Foundation will soon run out of funds, as mentioned during a meeting of the foundation’s board of directors.

The discussion, which was recently published, begins with Brock Pierce, the chairman of the board, making an interesting declaration, meant to raise awareness of the current financial issues that the Foundation is struggling with.

It seems like the Foundation’s series of workshops, recently carried out, only managed to raise around $2,000 in sponsorship fees. Together with this, the foundation also went ahead and initiated a couple of cost-cutting measured to further staunch its flow of cash. At this moment in time, the Foundation spends around $7,500 a month, and has enough funds to last until March.

Its executive director, Bruce Fenton, declared that: “We need to do serious fundraising … Revenue is key, we can’t do much more to cut expenses.”
http://themerkle.com/news/bitcoin-foundation-might-close-running-money/

Bitcoin’s Creator Satoshi Nakamoto Is Probably This Unknown Australian Genius

EVEN AS HIS face towered 10 feet above the crowd at the Bitcoin Investor’s Conference in Las Vegas, Craig Steven Wright was, to most of the audience of crypto and finance geeks, a nobody.

The 44-year-old Australian, Skyping into the D Hotel ballroom’s screen, wore the bitcoin enthusiast’s equivalent of camouflage: a black blazer and a tieless, rumpled shirt, his brown hair neatly parted. His name hadn’t made the conference’s list of “featured speakers.” Even the panel’s moderator, a bitcoin blogger named Michele Seven, seemed concerned the audience wouldn’t know why he was there. Wright had hardly begun to introduce himself as a “former academic who does research that no one ever hears about,” when she interrupted him.

“Hold on a second, who are you?” Seven cut in, laughing. “Are you a computer scientist?”

“I’m a bit of everything,” Wright responded. “I have a masters in law…a master’s in statistics, a couple doctorates…”

“How did you first learn about bitcoin?” Seven interrupted again, as if still trying to determine Wright’s significance.

Wright paused for three full seconds. “Um. I’ve been involved with all this for a long time,” he stuttered. “I—try and stay—I keep my head down. Um…” He seemed to suppress a smile. The panel’s moderator moved on. And for what must have been the thousandth time in his last seven years of obscurity, Wright did not say the words WIRED’s study of Wright over the past weeks suggests he may be dying to say out loud.

“I am Satoshi Nakamoto, the creator of bitcoin.”

http://www.wired.com/2015/12/bitcoins-creator-satoshi-nakamoto-is-probably-this-unknown-australian-genius/

Microsoft has published an update on the Azure Blockchain as a Service, saying it is investigating how to add the Ripple’s payments technology.

Microsoft has updated information on its Ethereum Blockchain as a Service, launched on its Azure platform last month. In a new blog post, Marley Gray, director of technology Strategy for Microsoft US Financial Services, provided details on the development of its blockchain-based development tools, saying the company received only positive feedback from its clients.

As Gray noted, the company is now investigating the Ripple’s protocol for Interledger payments and how it can be integrated by the Azure enterprise. “Azure BaaS is currently operating a Ripple validating node for the benefit of Ripple’s bank users, providing a valuable stakeholder to the consensus network,” Gray stated.

“We’re exploring how the Interledger Protocol can be used by the Azure enterprise and developer community to enable new and novel use cases within Microsoft’s Blockchain as a Service offering.”

http://www.coinspeaker.com/2015/12/08/microsoft-more-details-about-azure-blockchain-as-service-update/

Neucoin Price Key Highlights

Neucoin price recently broke below a near-term support area, signaling that a downtrend might be underway.
Connecting the latest highs of neucoin price action on the short-term time frame confirms that a selloff is taking place.

Neucoin price could make another test of the descending trend line, which coincides with the broken support area around 0.000021.

Area of Interest

Stochastic is making its way out of the oversold area, indicating that sellers are taking a break and letting buyers take control of neucoin price action. There’s still plenty of room to go before the oscillator reaches the overbought zone to suggest that the climb is over, which means that there’s a chance that price could make it all the way up to the trend line around 0.000021-0.000023.

For now, it looks like the 20 SMA is holding as nearby resistance, which might be enough to push neucoin price down to the previous lows near 0.000020 or much lower. In addition, the short-term 5 SMA is below the 20 SMA so the path of least resistance is to the downside.

http://www.newsbtc.com/2015/12/08/neucoin-price-technical-analysis-for-8122015-ready-to-test-trend-line/

Shaun Bridges was handed a 71-month prison sentence for fraud he perpetrated over the course of the Silk Road investigation.

Former Secret Service agent Shaun Bridges was handed a 71-month prison sentence for fraud he perpetrated over the course of the Silk Road investigation.
Bridges allegedly used the credentials taken from an arrested Silk Road employee, Curtis Green, to transfer $820,000 worth of bitcoin to his personal account on bitcoin exchange MtGox, and from there, to a Fidelity account.

http://www.financemagnates.com/cryptocurrency/news/former-ss-agent-shaun-bridges-gets-71-month-sentence-for-silk-road-fraud/

New Hampshire has been the most libertarian-leaning US state from the very founding of the nation. In January 1776, it became the first North American colony to establish a government that was independent of Great Britain's authority, and it has held onto its rebellious spirit ever since. More recently the Free State Project (FSP) chose to make the state their home, in 2003, and attracted liberty-minded individuals from around the world.

As a result, bitcoin usage over recent years has soared in the “live free or die” state, with events like the annual Porcfest primarily attracting bitcoin-accepting merchants.

“‘Monetary value’ means a medium of exchange, whether or not redeemable in currency, and includes convertible virtual currency.”

- New Hampshire General Court statute 399-G:1

http://bravenewcoin.com/news/new-hampshire-money-transmitter-rule-change-will-include-bitcoin-businesses/

Bitcoin Price Key Highlights

Bitcoin price has been trending higher, completing a corrective wave recently and reaching one of the Fibonacci extension levels indicated in an earlier article.
Price is now testing the ascending channel resistance visible on the 4-hour chart and might be due for a move back towards support again.
Bitcoin price could be in for a quick selloff from here, as risk aversion is spurring demand for the safe-haven dollar, possibly allowing a test of the channel support.

http://www.newsbtc.com/2015/12/08/bitcoin-price-technical-analysis-for-8122015-hitting-the-ceiling/

Bitcoin exchange and wallet provider BitX has extended its Series A round to include undisclosed funding from Southeast Asia-focused VC firm Venturra Capital.

According to BitX, the funding will be invested in recruitment and product development, as well as expanding the service beyond its current target consumers in markets including Indonesia, Malaysia, Nigeria and South Africa.

BitX declined to release the size of the funding, but stated that the capital was secondary to bringing Venturra Capital on as an investor.

read more : http://www.coindesk.com/bitcoin-startup-series-a-undisclosed-funding/

San Francisco-based bitcoin exchange Coinbase has announced a volume-based rebate system for trades put on the Coinbase Exchange. The offering which will come into effect from next week was announced today via the official blog-post.

The Company will continue to implement the maker-taker fee structure on the trades, but the traders will receive daily rebate benefits on trading more bitcoin on the bitcoin exchange. A trader’s 30-day bitcoin exchange volume relative to the total exchange volume will determine the amount of the daily rebate.

Suppose that 100BTC were traded on the bitcoin exchange over the last 30 days, and you traded 5BTC during the same period, then you have accounted for 5% of the total volume. Based on this, Coinbase will calculate the (reduced) taker’s fee. Coinbase used to charge a 0.25% taker’s fee on each trade during the day.

The rebate will be credited to the account each day at 12:00am UTC.

Take a look at the image below for a detailed breakdown of the fee structure.

http://www.newsbtc.com/2015/12/08/trade-more-bitcoin-pay-less-fee-coinbase/

On the Block Size Issue

When asked about Bitcoin’s block size issue in the interview, Gavin Andresen was quick to dismiss the notion that some sort of solution will not be found. He noted:

“I am confident that it’s going to get solved just because everybody agrees it’s a problem that needs to get solved. We’re just quibbling over exactly how.”

The interview took place a few days before the Scaling Bitcoin Workshop in Hong Kong. Multiple proposals for increasing the block size limit were made at the event, but whether any of the plans will be implemented into Bitcoin Core is still an unknown at this point.

http://insidebitcoins.com/news/gavin-andresen-i-am-confident-the-bitcoin-block-size-issue-will-get-solved/36133

Not much has happened in bitcoin-land since our last update. Prices are still trading just below the $400 handle. On OKCoin we opened at $398.54, fell to a low of $382.41 before rallying all the way to $402. We are currently quoted at $396.13 dollars per coin. During the past two days prices have remained locked in a $23 dollars range between $382 and $405 dollars.

http://www.forexnews.com/blog/2015/12/07/349957/

SAN FRANCISCO — A federal judge on Monday sentenced a former Secret Service agent to nearly six years in prison following his conviction on charges related to the theft of electronic currency during a high-profile investigation into the online drug bazaar Silk Road.
Shaun Bridges’ attorneys had sought a three-year prison term, but U.S. District Judge Richard Seeborg said Bridges’ behavior was a “shocking and reprehensible abandonment of his public duty.”

“This to me is an extremely serious crime consisting of the betrayal of public trust by a federal law enforcement agent,” Seeborg said before issuing the 71-month prison sentence. “And from everything I see, it was motivated entirely by greed.”
Bridges, who prosecutors said had previously spent time protecting the president’s family, pleaded guilty in August to money laundering and obstruction charges and acknowledged stealing $820,000 worth of bitcoin after getting access to Silk Road, the multimillion-dollar marketplace for illegal drugs and other contraband.

http://www.heraldnet.com/article/20151207/NEWS02/151209229

SEC Approves Overstock.com S-3 Filing to Issue Shares Using Bitcoin Blockchain

According to multiple sources close to Overstock, the U.S. Securities and Exchange Commission (SEC) has approved a S-3 filing for online retailer Overstock.com (NASDAQ: OSTK) to issue new publicly traded shares of the company on the Bitcoin blockchain.

An Overstock spokesperson declined to comment on the situation but said that the company would be issuing a formal statement in the next 48 hours.
Form S-3 is a securities registration form that gives companies a simplified process for issuing publicly traded securities. Unlike Form S-1, which is the comprehensive filing required for companies which plan to hold an initial public offering (IPO) of their stock, the S-3 is for companies that already have achieved a certain level of compliance with the Securities Exchange Act of 1934. Specifically, a company must have at least 12 months of properly filed reports with the SEC to be eligible to file an S-3.

https://bitcoinmagazine.com/articles/sec-approves-overstock-com-s-filing-to-issue-shares-using-bitcoin-blockchain-1449539558

itcoin Price Moving Parallel To the 1 x 1 Gann Angle:
By examining the 1 hour (BTC/USD) charts from Bitstamp and keeping the fibonacci retracements and the Gann angles we plotted during earlier analyses (look at the below chart), we can conclude the following:

Bitcoin price rose to breach the resistance that corresponded to the point of convergence between the 1 x 1 Gann angle and the 0 Fib retracement level at 00:00 earlier today. However, the bulls weren’t able to keep bitcoin price above the 1 x 1 Gann angle and a few hours later, it dropped below this crucial level of resistance.
We can now spot a new uptrend line forming, with a trend angle of 46 degrees (calculated by integration of the equation that corresponds to the blue trend line on the below chart). Accordingly, we expect bitcoin price to continue following this new “slope” of rise, which is rather slow and frustrating for the market’s bulls.
The candlesticks following the 00:00 time bar exhibited long upwards shadows, which represents the instability of bitcoin price above the 1 x 1 Gann angle level.

source : http://www.newsbtc.com/2015/11/30/bitcoin-price-inching-further-up-driving-the-bulls-around-the-bend/

A star Silicon Valley entrepreneur explains how bitcoin is going to change the world

Tech entrepreneur and bitcoin guru Wences Casares saw his family lose their entire wealth three times in Argentina because of hyperinflation, a currency collapse and confiscation.

“[There’s] more people in the world who need a currency they can trust than the opposite,” Casares told
Dan Morehead, the ex-head of macro trading at Tiger Management, in a new interview on RealVision Television, a subscription financial news service.

Those instances are what ultimately led him to the digital cryptocurrency bitcoin.

Casares created Argentina’s first internet provider and later sold his online brokerage firm to Banco Santander for $750 million in 2000. He is now a star of the Silicon Valley bitcoin scene, heading Xapo, a company that provides a bitcoin wallet and storage vault.

The real “a-ha” moment for bitcoin happened when he was planning a trip with a group of childhood friends back in Argentina.

video : https://youtu.be/0SVcaXdO5UQ
source :http://www.businessinsider.com.au/casares-wences-interview-on-realvision-television-2015-11

Another bitcoin price advance and another successful trade concluded a few hours before this article's publication. Sometimes the simplest indicators yield the easiest intra-day profit while co-located, on-site, algorithm-fuming, HFT bots squeeze little out of the apparently unorthodox bitcoin 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.

Bitcoin Price Analysis

Time of analysis: 14h30 UTC

Bitstamp 1-Hour Chart

Bitcoin Price Key Highlights

Bitcoin price has recently made an upside breakout from consolidation and a rally above an area of interest, but it looks like buyers are losing steam.
A pullback to the area of interest might be necessary before the rally regains ground.
Bitcoin price could make a correction to the Fibonacci retracement levels marked on the 4-hour time frame before resuming its climb.

Resistance Turned Support

The Fib levels based on the latest swing low and high show that the 50% level lines up with the broken resistance at $350. This could hold as support from now on since it’s also near the 200 SMA dynamic inflection point. A larger correction could last until the 61.8% Fib near the 100 SMA.

Speaking of moving averages, the 100 SMA is still below the 200 SMA so the path of least resistance might be to the downside. If so, a break below the lowest Fibonacci retracement level around $340 could be enough confirm that further losses are likely.

In that case, bitcoin price could retreat to the next visible support area at $300-310. A break below this level could signal that a longer-term selloff is underway.

http://www.newsbtc.com/2015/11/30/bitcoin-price-technical-analysis-for-1122015-waiting-for-a-pullback/

Digital currencies may come and go. But the banks and regulators sweating the rise of cryptocurrencies like bitcoin should keep a close eye on the technology behind the coins, says a report from the Bank for International Settlements (BIS).

More digital currencies are circulating today than buyers know what to do with. Some 600 are out there and the plethora of formats and protocols behind them could hinder consolidation into a robust market.

“This diversity may represent a barrier to the use and acceptance of these schemes, as fragmentation in various initiatives could be an obstacle to achieving the critical mass necessary to realise the network effects that are common to all payment networks,” BIS’ Committee on Payments and Market Infrastructure pointed out in its first report on digital currencies in several years.

Bitcoin, which grabbed global attention in 2013 when its value soared beyond US$1,000, uses a public protocol called blockchain. It’s one of many technologies used to process cryptocurrencies.

read more : http://www.scmp.com/business/global-economy/article/1883197/pay-attention-bitcoin-technology-bank-international

BitPay’s Chrome app, Copay version 1.5.0, now works directly with TREZOR devices.

TREZOR permits bitcoin users to store their private keys on an external offline hardware device. The capability protects funds from accidental and malicious vulnerabilities the might affect devices connected to the Internet.

When TREZOR users send money, they can use TREZOR to sign their bitcoin transaction, without exposing their private keys to potentially-compromised devices or networks.

Users can add devices that are restricted from signing funds themselves, add multisignature to their wallets, and recover wallets with TREZOR devices,

The integration of hardware wallets, like TREZOR, and software wallets, like Copay, adds more layers of security, while this partnership demonstrates that user’s integration experience can be relatively simple.

read more : http://allcoinsnews.com/2015/11/25/bitpays-chrome-app-copay-now-works-with-trezor-devices/

Bitcoin Price Key Highlights

Bitcoin price has been consolidating tightly inside a descending triangle pattern on its 1-hour forex chart, reflecting hesitation among buyers and sellers.
The path of least resistance is to the downside since bitcoin price is coming from a downtrend and sellers appear to be pushing price gradually lower.
Bitcoin price is approaching the peak of its triangle formation, which means that a breakout in either direction is imminent.

Technical Clues

Bitcoin bounced off the bottom of the triangle quickly, as predicted in an earlier article, then went on to test the top once more. It appears to have held as a ceiling, coinciding with the short-term 100 SMA.

The 100 SMA is below the 200 SMA, suggesting that the path of least resistance is to the downside. A break below the triangle support at $317-318 might still be possible, potentially sending bitcoin price to the next floor at $300.

http://www.newsbtc.com/2015/11/25/bitcoin-price-technical-analysis-for-25112015-heads-up-for-a-breakout/