Latest posts of: ezak

Scaling Bitcoin Gears up for Hong Kong

The Scaling Bitcoin workshops are gearing up for their second phase. After the initial conference in Montreal in September, Bitcoin's engineering and academic community will gather in Hong Kong later this week to discuss how best to scale up the network to allow for more than a handful of transactions per second.

To get a feel for what to expect from the workshop, Bitcoin Magazine spoke with Pindar Wong, co-founder of Hong Kong's first licensed ISP and the Scaling Bitcoin Hong Kong planning committee chair, and MIT Digital Currency Initiative's Neha Narula, Scaling Bitcoin Hong Kong program chair .

https://bitcoinmagazine.com/articles/scaling-bitcoin-gears-up-for-hong-kong-1448997197

SEC alleges bitcoin investment was Ponzi scheme

The Securities and Exchange Commission charged two bitcoin mining companies and their founder on Tuesday with defrauding investors.

The SEC’s complaint accuses Homero Joshua Garza and his firms of running a Ponzi scheme that used “mining” for bitcoin or other virtual currencies as a front to steal investor funds. “Mining” means applying computer power to try to solve complex equations. The first computer or collection of computers to solve an equation earns the bitcoin currency.

From August to December 2014, the SEC alleges in its complaint Garza sold $20 million worth of shares in a digital mining contract he called a Hashlet through his digital bitcoin mining companies GAW Miners and ZenMiner. But those companies did not own enough computing power to solve the problems. Garza and his companies sold far more computing power than they owned, so some investors received proceeds generated from sales to other investors.

“Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson, director of the SEC’s Boston Regional Office, in a press release.

The SEC is looking for the court to stop the operations as well as force the companies to forfeit any allegedly illegal gains plus interest and penalties.

Garza’s attorney, Marjorie Peerce of Ballard Spahr, told MarketWatch, “Josh Garza is disappointed that the SEC has filed suit against him. Any further comment will be through the court process.”

http://www.marketwatch.com/story/sec-alleges-bitcoin-investment-was-ponzi-scheme-2015-12-01

Top 8 Bitcoin Apps for iPhone

Are you ready to put your new iPhone 6S to good use? If you love Bitcoin, it is time to fill the iPhone with the best Bitcoin apps on the market. Use your Bitcoins anywhere you go, with the best wallets, games, and convenient services that the world’s most advanced currency provides. Apple struggled with the new Bitcoin currency app concept, but got on board last year and are finally offering great apps for the Bitcoin community.

Read the full story below.

Here are the Top 8 Bitcoin Apps that work on your iPhone, and are free, with convenient links to them.

http://dcebrief.com/top-8-bitcoin-apps-for-iphone/

Bitcoin Trading: Frustrated Sell-Off

Bitcoin trading saw the bulls make a second unsuccessful attempt on the $380 and 2480 CNY level today. Frustrated, the market sold off to support at $355 and 2300 CNY.

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.

From the analysis pages of xbt.social, earlier today:

Price was sold off and found support at the level of the previous consolidation that acted as spring-board for the attack on $400 (Bitstamp) and 2480 CNY.

The chart setup and outcome reminds of early 2015 when price rallied (parabolically) above $300 in January but then failed to get above $300 in March - despite a relentless effort by the bulls. Subsequently, price retreated - failed on a second attempt - and fell away strongly - similar to today's sell-off.

The wave down is a typical bitcoin wave C sell-off in a textbook Elliott impulse wave. Note the 5 subwaves with wave 3 making up the bulk of the move. The strong decline must have had many traders jumping into the wave, but the risks are many: Where would it stop? Is a halt just a correction or is it a reversal? How deep will it correct?

The benefit of hindsight shows us a large wave down that was signaled in the 5min chart, yes, but there are few signaled trades in the 5min chart that cover more than $5 price? If you review the chart, you'll agree that it's fewer than what the effort justifies.

Price has, for now, avoided avoided covering the distance to the red 1-hour 200MA at the red arrow. Yet, the market is attempting to trade price above the Fib line (origin: Jan 2015). Holding above it should support price for the moment, but the larger move down seems incomplete. A return to the support floor (should it transpire) will be signaled in the 4hr chart. For now, best to sit out.
Summary

If you seized the opportunity and profited from today's decline - congratulations. If you feel that you missed an opportunity - don't hold on to regret - there is always another opportunity in the market. Guaranteed.

https://www.cryptocoinsnews.com/bitcoin-trading-frustrated-sell-off/

Not in Your Grandma’s Wallet: Bitcoin Redefining Money

Will Bitcoin replace paper money? During an interview on the FOX Business Network’s Mornings With Maria ,Digital Currency Group CEO Barry Silbert, who’s considered the most active investor in Bitcoin companies, said: “[Bitcoin] it’s going to change the way that people send money, spend money -- even think about money. It’s kind of redefining what is money.”

As an investor of companies in over 20 countries, he sees the most Bitcoin action in places where people use mobile devices for transactions.

“We are seeing dramatic adoption in places like Kenya, Argentina, Brazil, South Africa -- places where people have mobile devices, but they don’t have bank accounts,” he said.

He also discussed how regulation is impacting the digital currency.

“[Regulators] are certainly paying attention… I used to think that regulation was Bitcoin’s biggest threat -- I actually think it’s the biggest opportunity now… Running a bank, operating a bank -- you cannot be innovative. You can’t think outside the box. You can’t do anything creative. Whereas you have hundreds of thousands of startups around the world that are looking to, again, kind of disintermediate… It is really going to eat banks alive.”

With only $5B in market cap, Silbert believes Bitcoin’s technology is very valuable.

“I’ll be the first to admit that Bitcoin as a digital currency is either going to be worth zero or it’s going to be worth a whole lot more money than it is today… it’s a very, very, risky investment. But this ecosystem is amazing that’s being built. There’s been a billion dollars in investment by venture capital in this industry so far.”

He also discussed how the financial services industry will change in the next 5 to 10 years.

“The definition of a bank is going to change. Banks are being disintermediated -- they are being attacked from every different angle… from startups, all the way up to different types of approaches, to finance like Bitcoin.”

http://www.foxbusiness.com/investing/2015/12/01/not-your-grandmas-wallet-bitcoin-redefining-money-dcg-ceo/

Bitcoin vs. Blockchain: Inside Bitcoin Speakers Weigh In

Bitcoin startups (and the inevitable venture capital funding), have seen a trend away from Bitcoin and a new focus on the underlying technology, the blockchain. Are these indicators that spell the end of Bitcoin, or just a short-lived fad?

The blockchain right now is used for storing transaction information from the blocks miners mine, creating a chain of blocks (hence the name). Transactions are secured based on how many “confirmations” they have, or how many blocks in the past it was broadcast to the network. Once six confirmations for a specific transaction has been reached, it is considered to be digitally set in stone.

The blockchain has always had the ability to append additional information into blocks, such as what BTC (blockchain technology corporation) is doing with their blockchain-based voting machine, as well as allowing users to build layers on top of the blockchain, in the form of colored coins and other digital assets.

The blockchain movement is not limited to Bitcoin startups either, with companies like NASDAQ, VISA, and American Express venturing into blockchain. R3, a coalition of over 20 of the biggest international banks, is a huge testament of how seriously the financial industry is taking blockchain technology. Unfortunately for Bitcoin, most of these institutions are interested only in the blockchain, so steps toward making their own “permissioned ledger” are occurring in an attempt to remove Bitcoin entirely out of the equation.

With less talk about Bitcoin as a currency, and more about the blockchain, some wonder if this is the beginning of the end of Bitcoin as a monetary vehicle.

http://bitcoinist.net/bitcoin-vs-blockchain-inside-bitcoin-speakers-weigh/

KeepKey and Trezor: Bitcoin Vaults in Your Pocket

SatoshiLabs presented Trezor in the summer of 2014. It was the first hardware wallet or so-called cold storage ever which provided the unprecedented possibility to store all private keys offline. That was quite an innovation in the crypto security space. KeepKey released its wallet in September this year. Some say it is just an expensive copy of Trezor. But is that so indeed? CoinTelegraphCT r: 15 conducted a small research of the main features of both wallets to help our readers make the right choice between them.
Trezor: the First and the Safest

Back in 2014 it became a revolutionary solution, which allowed you to store all the important data off the Internet, making it impossible – or nearly impossible – to steal it. By the way, the developers state “not a single Trezor has been hacked since its launch”.

Indeed, the wallet isn’t vulnerable to stealing malware as it has no Internet connection. It means your data never leaves the wallet while conducting transactions. It’s compatible with multiple wallets and coins so your choice of currency isn’t limited just to BitcoinCT r: 8. It is also compatible with Windows, OS X, Linux, Chrome OS and Android, so you’ll probably have no problems using it with any device you own. Furthermore, it was designed for an average PC user so you don’t need to be a computer genius to use Trezor.

http://cointelegraph.com/news/115772/keepkey-and-trezor-bitcoin-vaults-in-your-pocket

Hackers blackmail Greek banks demanding bitcoin ransom

At least three Greek banks have been hit by cyber-attacks from a group of hackers demanding a bitcoin ransom. The group called Armada Collective threatened to disrupt the banks’ electronic transactions unless each paid a 20,000 bitcoin ($7 million) ransom.

The Armada Collective attacked the systems of three Greek banks (including the central bank) which interrupted transactions for a few minutes followed by the ransom demand.

"No bank responded to this extortion, so the same hackers tried again at the weekend and today," a police official was cited as saying on Monday by the Financial Times. "But we had strengthened our defense in the meantime, so no disruptions took place."

https://www.rt.com/business/324107-greece-banks-hackers-bitcoin/

Bitcoin exchange Coinizy launches world’s first bitcoin-to-PayPal facility

Vancouver, British Columbia, Canada-based bitcoin exchange Coinizy announced last week in a press release that it has launched the world’s first bitcoin-to-PayPal exchange facility while also providing the most diversified ‘cash out’ options among all bitcoin exchanges.

The facility was presented by its founder and CEO, Yannick Losbar, during a live demonstration at the Parisian Maison du Bitcoin in Paris, France. It promises to be the fastest, easiest way to convert Bitcoin to fiat money.

“Up until now, 99% of the Bitcoin exchanges only offered the good old wire transfer, when one wanted to withdraw the funds he obtained by converting some bitcoins. This excludes de facto the 2.5bn unbanked people, as well as most of the teenagers, which is very unfortunate since this part of the population could represent the next potential wave of Bitcoin adopters,” explained Losbar in the press release.

“Even among the most financially included part of the population, wire transfers are often perceived as slow (3 days on average for a SEPA wire, and up to 10 days for an international SWIFT transfer) and inconvenient,” he added.

The press release states this is why Coinizy decided to implement seven different withdrawal possibilities, with each one potentially corresponding to a particular use case. Users already comfortable with the world of online payment are, opines the release, likely to choose PayPal and Okpay e-wallets; frequent ecommerce shoppers might want to consider the prepaid, debit-card offers, and frequent travelers would surely appreciate the cash delivery made possible by the Western Union direction.

https://coinreport.net/bitcoin-exchange-coinizy-launches-worlds-first-bitcoin-to-paypal-facility/

LimoPlay banks on bitcoin to get ahead of casino game

In a sea of casinos available online today, one platform is aiming to get ahead of the game.

LimoPlay banks on bitcoin to get ahead of casino gameThere are more than 500 casinos available in the market today, but LimoPlay is among the handful of bitcoin casinos that also openly accepts fiat currencies. Marketing Manager Jay Simons described LimoPlay as a different kind of casino that is “players oriented only.”

“Bitcoin for online casinos is not just a market, but a processor opportunity,” Simons told CalvinAyre.com in an email interview. “We also take fiat currencies, but the fact that we have bitcoin opens the door for players who cannot or don’t want to deposit with credit cards or wire transfer.”

Currently, there are only few dozens of bitcoin and fiat casinos in the market today, and Simons admitted operators are still faced with the challenges cryptocurrency presents, such as the level of security among the wallets and services used to store and exchange digital currency.

Simon said operators will have to learn how to handle bitcoin, trust the blockchain, secure hot and cold wallets, approve transactions and even automate the withdrawal system.

“Payment and fraud in the bitcoin world are different,” he explained. “We have partnered with bitcoin experts and marketing sources which allows us to know better what we are doing to optimize the funnels for our players.

Despite this, Simon believes there are “endless” opportunities for growth in the bitcoin casino industry.

“We have lots of interest from Asia and Eastern Europe countries, and we are working to translate the platform to new targeted languages. We know the advantages of using bitcoin both for players and for us and this is where we place the focus,” Simon noted.

LimoPlay has more than 250 games from top providers in the online casino markets, and is powered by some of the notable software developers—Betsoft, SoftSwiss, NetEnt, Ezugi—in the market.

“We decided to take the luxury approach,” Simons said. “We don’t care to spend more at the beginning as this is long term business. We are ready to give to our players all they need and ask for, to guide them, to meet them and to teach them how to play. We believe that this is the right approach.”

http://calvinayre.com/2015/12/01/business/limoplay-banks-on-bitcoin-to-get-ahead-of-casino-game/

Greece says hackers hit banks with bitcoin ransom demand

Greece's central bank has been on alert following reports of cyberattacks against three Greek banks. Sources say hackers had demanded a ransom to be paid in the bitcoin electronic currency.

Greek police said Monday that a group calling itself Armada Collective had demanded units of the virtual currency bitcoin, redeemable for hundreds of thousands of euros, or else it would disrupt the banks' websites.

"It was a serious threat," an unnamed Bank of Greece official told the AFP news agency.

Officials from the unnamed banks said the institutions had refused to pay and instead alerted authorities. It's not unprecedented for hackers to make ransom demands with the threat of cyber attack.

Online banking disrupted

The hackers apparently made good on their threat and managed to crash the online banking services of the three banks on November 26 for several hours. Officials say no sensitive data or customer information was compromised.

"All they achieved was to block the web banking for a few hours. Nothing else," one unnamed banker told the Reuters news agency, speaking on condition of anonymity.

Central bank officials say a counter-operation by cybercrime police and the Greek intelligence agency restored the system within about an hour.

"We informed the police and the country's secret services are involved," a second banker told Reuters. "It's an easy to handle situation. There is no need for bank clients to worry."

A hacking extortion group using the same name was reported to have staged attacks against banks in Thailand in the past as well as several private email services earlier this month.

The attacks come as Greece's four main banks - National Bank, Piraeus Bank, Alpha Bank and Eurobank - are being recapitalized after suffering a deposit flight earlier this year, forcing the government to impose capital controls to keep the banks solvent.

http://www.dw.com/en/greece-says-hackers-hit-banks-with-bitcoin-ransom-demand/a-18885881

New Shift Card Links to Bitcoin, Your Other Accounts

Ever since bitcoin become noticeably mainstream, bitcoin debit cards have been popping up on the market…but none quite like this. The gadget, a project from Coinbase and Shift Payments, is designed to merge bitcoins and more common types of card payment into a seamless experience with low fees.

The Shift card is actually gadget that you can buy for around $10 and use with bitcoins as long as the merchant accepts Visa cards. Actually, that’s a simplification – this card is designed to work with all sorts of accounts. You can use Coinbase for your store of bitcoins, but you can also use a Dwolla account, a traditional bank account, and other options. Any loyalty points in various programs can also be spent using the card.

The smart credit card comes with the Shift app, which is a welcome but fairly standard finance app that lets you check account balances, review your recent transactions, and so on. You can also set it up to get immediate alerts whenever your Shift card is used, which can be handy in case of identity theft and other problems.

http://www.gadgetreview.com/new-shift-card-links-to-bitcoin-your-other-accounts

Netki Launches Google Chrome Extension to Simplify Bitcoin Wallet Addresses

Netki, a service aimed to simplify bitcoin payments, has officially released a beta of their Google Chrome browser extension, allowing customers to use email-esque Wallet Names such as ‘wallet.justin.me ‘ instead of lengthy 32 character public addresses. Netki users can now enter their Wallet Name anywhere on the web, and the extension will automatically replace the name with the appropriate public wallet address. They currently support bitcoin, litecoin, dogecoin, Factom (Factoids and entry credits), and Ether, among others.

Their new extension will allow Netki users to maintain their anonymity and save time across nearly any web-based blockchain application, including wallets such as Coinbase, Blockchain, and Uphold, exchanges like Kraken, Bitfinex, and CEX.IO, and other applications such as Fold and Purse.io.

The extension is available for free on the Chrome Web Store. And while an individual Wallet Name is available on Netki’s website for as little as $1.95 a year, ChangeTip users are given one for free. If you’d like to try the extension, sign up for a ChangeTip account on their website, navigate to the ‘Tips’ tab on the top left of the page, and activate your personalized Wallet Name by clicking on the personalized URL under the ‘Tip.me Page’ header on the left side of the page. Your new Wallet Name will be tied to the deposit address for your ChangeTip account, which you can use anywhere on the Internet with the new extension.

Netki, started in 2014 and described by many as the “DNS for Bitcoin,” has already partnered with companies such as ChangeTip, Gem, and Snapcard, whose users are automatically registered and given a personalized Wallet Name.

However, their ambitions are much larger. Wallet Names will allow individuals to remain ‘pseudo-anonymous’ on the public blockchain, mitigating serious privacy concerns for those whose real-world identities become associated with single, static public addresses.

In addition, Netki also built in support for Hierarchical Deterministic or HD Wallets, which allow users to automatically create a unique public address for each transaction related to a single Wallet Name. HD Wallets, when combined with Netki’s Wallet Name, can help individuals maintain anonymity on the blockchain without the hassle of managing dozens of public addresses.

Netki CEO Justin Newton also hopes their new extension, combined with individualized Netki Wallet Names, will allow new users to more easily understand and use bitcoin online.

“We are excited to release this Chrome extension as it now allows users to send using Wallet Names at all web-based blockchain and bitcoin services.," Newton said. "This is a significant step forward in the usability of blockchain technology to ensure easier mainstream market adoption.”

https://bitcoinmagazine.com/articles/netki-launches-google-chrome-extension-to-simplify-bitcoin-wallet-addresses-1448914120

Estonian High Court Asks Government to Clarify Bitcoin Stance

The Estonian Supreme Court has asked the country’s central bank, two of its civil ministries and its top financial regulator to answers questions related to bitcoin as it considers a case on the legality of the digital currency.

The questions focus on the application of anti-money laundering (AML) statutes to bitcoin activities, as well as the broader nature of the financial technology, according to a translation of the court’s 19th November decision. Eesti Pank, the Interior and Finance Ministries, and the Estonian Financial Supervision Authority must respond to the court’s request by 11th January.

The developments follow a lawsuit filed last year by Otto de Voogd, operator of bitcoin trading platform BTC.ee, in the wake of law enforcement pressure. Trading was suspended on the platform in February 2014, a move then attributed to "threats issued by the Estonian police".

As reported by CoinDesk, officials from the Estonian Financial Intelligence Unit of the Estonian Police and Border Guard Board had contacted de Voogd, telling him that he was required to provide information on BTC.ee users and attest to his compliance with national law. A representative for the Estonian Police later denied that de Voogd was threatened.

In a Facebook post over the weekend, de Voogd outlined the Supreme Court’s decision and said that the move will "show the true face of the Estonian state when it comes to dealing with truly disruptive innovation that was not created by the state itself".

De Voogd later told CoinDesk:

http://www.coindesk.com/estonia-supreme-court-government-bitcoin-stance/

Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

Digital Currency Group (DCG) Founder and CEO Barry Silbert was recently interviewed on RT’s Keiser Report, and he shared his thoughts on the recent trends for Bitcoin in the banking industry. At one point during the conversation, Host Max Keiser brought up JP Morgan Chase CEO Jamie Dimon’s comments related to bitcoin, in which he referred to the digital commodity as a waste of time. Silbert was able to point out where he thinks Dimon goes wrong on bitcoin, but he also shared an interesting perspective on the relationship between banks and Bitcoin companies as a whole.

Read More: Bitcoin vs Blockchain: Barry Silbert Weighs-in at Inside Bitcoins NYC
Silbert Sees Existing Financial Institutions as Partners

Although many people view the legacy banking system and Bitcoin as natural enemies, it appears that Silbert does not see it that way. During the interview, the founder of SecondMarket explained that traditional financial institutions should be viewed as partners in the further development of Bitcoin and other blockchain technologies:

“What DCG does is we start and invest in Bitcoin and blockchain companies. We’ve now invested in 59 companies around the world — making us the most active investor in the space. We raised money ourselves from MasterCard, CIBC, CME Group, Transamerica, and New York Life. We view the incumbents, we view the existing financial establishment as partners in this journey.”
What Jamie Dimon Gets Wrong

When speaking specifically to Jamie Dimon’s comments on bitcoin, Barry Silbert attempted to point out the vital flaw in the JPMorgan CEO’s argument. Although Dimon believes that governments around the world will never allow the proliferation of currency outside of their control, Silbert explained that these legal institutions may not have a choice in the matter:

“I think Jamie — who I’ve spoken to about this in the past — he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency, and I think where Jamie is probably less informed is around the inability for governments and banks to actually do that. In the case of Bitcoin, there’s no one to put in jail, there’s no company to shut down . . . If society decides that bitcoin is money, there’s nothing that JPMorgan, the Federal Reserve, or anybody [else] can do to stop it. But it’s still very early.”

http://insidebitcoins.com/news/barry-silbert-on-why-jamie-dimon-is-wrong-on-bitcoin/36037

Coinbase Users in Over 20 States Can Now Spend Bitcoin with Visa Merchants

Coinbase has done something that all other Bitcoin exchanges only dreamed about, they have enabled half of the US popular to spend Bitcoin anywhere Visa branded credit cards are accepted.

This Monday, Coinbase announced its Shift Visa Debit Card in over 20 States in the US, which its users can use both online and offline to make retail purchases with around 38 million merchants from around the world who accept Visa branded cards.

In a bold statement, Shift stated on its website that “Whether your currency is new or old shouldn’t matter. Bitcoin is now accepted online and offline at over 38 million merchants worldwide.” “Case closed,” they added.

On the other hand, Coinbase defended the partnership with Shift by saying on their official blog that although Bitcoin has come a long way and making headwinds in the US, it is not as mainstream as consumers would like it to be.

“Buying gas at a local gas station or groceries at a neighborhood grocery store with Bitcoin has not been possible in most cities in the U.S,” said the Coinbase blog post.

Currently, there are no annual or conversion fees for using the Shift Visa Debit Card in the US. However, Coinbase mentioned that in the future, they might start charging a fee.

Although the original intention of the Bitcoin was to act as a currency itself, such dreams seem to be fading with every week as governments around the world are tightening their regulatory belts regarding the widespread use of digital currencies that can be used for making anonymous payments.

Instead, in September 2015, the Commodity Futures Trading Commission (CFTC) classified Bitcoin as a commodity instead of a currency. That classification effectively meant that just as consumers can get gold based debit card, now they could invest in Bitcoin and spend it with a prepaid Visa or MasterCard.

http://paymentweek.com/2015-11-30-coinbase-users-in-over-20-states-can-now-spend-bitcoin-with-visa-merchants-8973/

Here's Why the Value of Bitcoin Could Skyrocket in 2016

Bitcoin, the dominant digital currency that's making its way onto the board room agendas of Fortune 500 companies and into the portfolios of average investors, is poised to have a big 2016.

Since emerging as a niche trading instrument in 2009, bitcoin has garnered significant media attention (more often than not, negative attention). While weathering a barrage of bad headlines, the bitcoin ecosystem has grown, attracting more than $1 billion in venture-capital funding over the last few years, supporting some entrepreneurs to build companies, services and capabilities that utilize bitcoin and the blockchain technology on which it's built, and may transform the financial services landscape forever -- and for better.

In contrast to fiat currency (like the U.S. dollar), bitcoin has no central authority, has a finite and known cap on its supply, and allows for near instantaneous value transfer. Against a backdrop of currency wars and manipulation, volatility in equity markets, and interest rate uncertainty, investors need diversification in their portfolios, and bitcoin may be the new asset that provides them with just that.

Bitcoin is still in its infancy, but that's what makes investing in it promising. Over the last few years, what hasn't killed bitcoin has made it stronger.

http://www.thestreet.com/story/13377731/1/here-s-why-the-value-of-bitcoin-could-skyrocket-in-2016.html

A Bitcoin Boomlet

Bitcoin is currently enjoying what politicos call a boomlet — a small bump that, while perhaps not impressive on a historical scale, is certainly notable. For bitcoin at the moment, this means a price spike that has put the cryptocurrency into its highest territory in a year.

That, combined with a small rise in global interest and what seems to be the highest transaction volume in history puts bitcoin in an interesting position. While it was originally assumed by many that bitcoin was doomed, or at least something that would never transcend niche status, those worries have certainly fallen short.

At the same time, bitcoin is only growing so quickly. Its transaction volume, an imperfect but useful metric, has been relatively flat recently, even around the time of the price fluctuations.

So things are mostly up, but at the same time, mostly inside the same constellation we’ve been surfing around for what now feels like ages. Let’s get to the charts:

http://techcrunch.com/2015/11/30/a-bitcoin-boomlet/

Bitcoin Wallets 2016

Since the beginning of 2015, the bitcoin industry has seen an increasing number of data breaches targeted at bitcoin wallet service providers and exchanges, leaving the private keys of bitcoin accounts and user funds vulnerable to potential hacking attacks.

Leading bitcoin exchanges and wallet platforms have begun to implement backup encryption systems, the multi-signature technology and provide hierarchical deterministic (HD) wallets to secure user funds.

Deterministic & Multi-Sig Wallets

Leading deterministic bitcoin wallet platforms include Electrum, CarbonWallet, TREZOR and Armory.

Carbon Wallet is a web based deterministic bitcoin wallet which generates private keys from the passphrase that does not hold a server side storage. Transactions are signed locally in the browser and private keys are not shared with the server.

Carbon Wallet requires users to control at least two private keys using the multi-signature technology. The web-based platform automatically encrypts private keys with the passphrase of the browser.

Furthermore, unlike popular bitcoin wallet platforms including blockchain.info, Coinbase and Circle, Carbon Wallet implements a unique 2 factor authorization system called Out of Band 2 Factor, which “means that users’ 2 factor security is not open to social engineering.”

http://www.newsbtc.com/2015/11/30/most-secure-bitcoin-wallets-2016/

Bitcoin Price Climbs to 3-Week High to End a Memorable November

The Bitstamp Price Index struck a 3-week high of $383 at 9:22 AM UTC today, soon after a steady increase from Sunday when Bitcoin price to USD opened at $362.75. The late hours of Sunday saw the price jump from $364 at 9:43 PM UTC to $372.38 at 10:55 UTC.

Bitcoin price opened Monday, November 30 at $370.95. At the time of publishing, Bitcoin is trading at $375.38.

The steady turnaround comes after the frenetic increase earlier this month when the price set records with increased trading from Chinese exchanges playing a significant role with the recent yearly-high.

The opening of the Gemini Bitcoin exchange, the Chinese central bank slashing rates to spur a stagnating economy and the increased outflow of capital away from the country are also cited as factors behind a turbulent November for price of the cryptocurrency. The earlier price surge also preceded the final Silk Road auction which saw 44,000 seized BTC for bidding.

Bitcoin has seen a steady increase in price since late early September and struck a milestone of $290 on October 27 before ringing a then-year high of $334.05 on 30 October.

Following recent corrections after striking a yearly high beyond $500 earlier this month after a rapid increase in price, Bitcoin price is seeing a more balanced resurgence to climb again and hit a 3-week high of $383 on the Bitstamp Price Index today.

https://www.cryptocoinsnews.com/bitcoin-price-climbs-to-3-week-high-to-end-a-memorable-november/