Coin News

BitPay will no longer offer its "free and unlimited" introductory service to new merchant customers looking to accept bitcoin.

Bitcoin trading got a reminder, yesterday, of the volatility that can take flame, within minutes, in this market. Today's price action confirms the view that price is in a downtrend and that the spike was merely an upward correction. 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 Trading and Price Analysis Time of analysis: 15h46 UTC Bitstamp 15-Minute Chart From the analysis pages of xbt.social, earlier today: A sell signal formed in the 15-minute chart [identified and […]

The post Bitcoin Trading Struggling To Sustain Upside Momentum appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Just a couple weeks ago, one lucky player at BitStarz managed to land the biggest win the casino had ever seen. A few days later, it was time again. A new depositing player won a whopping 95.106 BTC while playing the ever-popular slot Lucky Coin, thus breaking the record again. BitStarz Casino pays out two record-breaking wins in less than 2 weeks time! Beginners luck strikes again at BitStarz where yet another new player managed to land an incredible record-breaking win. The player, know by his nickname “badwinner” won an incredible 95 BTC (equivalent of over €20,000) in just one spin, and is thereby the record-holder for the single largest win in BitStarz history! The win occurred on one of […]

The post Press Release: BitStarz Player Lands Record-breaking Win at the Bitcoin Casino appeared first on Bitcoin Magazine.

Former Bitcoin Foundation board member Charlie Shrem is conducting an ongoing ask-me-anything (AMA) session from prison in Pennsylvania.

Once the Vice Chairman of the Bitcoin Foundation and CEO of BitInstant, Charlie Shrem’s fall from grace, began at JFK airport in New York where police arrested him on charges of money laundering and acting as an unlicensed money transmitter. Authorities alleged Shrem laundered more than $1 million. Shrem faced a maximum sentence of 30 years in prison. Shrem’s true story starts with BitInstant and his nightlife lifestyle via his Bitcoin accepting club in New York. Shrem was ultimately sentenced to two years in prison for Silk Road related charges. U.S. District Judge Jed Rakoff in Manhattan ordered Shrem to forfeit $950,000 […]

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In a talk given at the Portadown Chamber of Commerce in Northern Ireland on September 18, Andrew G Haldane , Chief Economist at the Bank of England (BoE), has hinted at the possibility that the U.K. government might issue a digital currency. Though the disclaimer “The views are not necessarily those of the Bank of England or the Monetary Policy Committee” ensures plausible deniability, Haldane’s talk seems to indicate that the BoE is at least seriously considering the possibility.

Haldane is chief economist at the BoE and executive director of monetary analysis and statistics. Listed by Time Magazine in 2014 as one of the 100 most influential people in the world, Haldane is a member of BoE’s Monetary Policy Committee and oversees research and statistics across the bank.

Haldane focuses on the inability of central banks to set negative interest rates to stimulate economic growth, which hinders the effectiveness of monetary policy and is known as the Zero Lower Bound (ZLB) problem.

“A central bank cannot reduce nominal interest rates below zero,” explained a 2014IMF working paper cited by Haldane. “This constraint arises from the existence of an asset, cash, with a guaranteed return of zero. A negative interest rate would mean that someone lends $100 and receives less than $100 in the future. Such a loan would never occur, because the lender could do better by putting cash in a safe deposit box.”

Therefore, Haldane suggests looking for technological means for implementing a negative interest rate on physical currency. More than a century ago, German economist Silvio Gesell proposed a stamp tax on currency to generate a negative interest rate. Modern variants of the stamp tax on currency have been proposed – for example, by randomly invalidating banknotes by serial number.

Another possibility is to abolish paper currency, which would also represent a way to fight criminal activities that rely on cash exchange.

Yet another possibility would be to issue government-backed currency in an electronic rather than paper form.

“This would preserve the social convention of a state-issued unit of account and medium of exchange, albeit with currency now held in digital rather than physical wallets,” says Haldane. “But it would allow negative interest rates to be levied on currency easily and speedily, so relaxing the ZLB constraint.”

Haldane observes that the technology underpinning digital currencies has changed rapidly over the past few years, due to the emergence of Bitcoin and crypto-currencies.

“What I think is now reasonably clear is that the distributed payment technology embodied in Bitcoin has real potential,” says Haldane. “On the face of it, it solves a deep problem in monetary economics: how to establish trust – the essence of money – in a distributed network. Bitcoin’s “blockchain” technology appears to offer an imaginative solution to that distributed trust problem.”

Whether a variant of this technology could support central bank-issued digital currency, and whether the public would accept it as a substitute for paper currency, are, according to Haldane, open questions that do not have easy answers.

“That is why work on central bank-issued digital currencies forms a core part of the bank’s current research agenda,” concludes Haldane. “Although the hurdles to implementation are high, so too is the potential prize if the ZLB constraint could be slackened. Perhaps central bank money is ripe for its own great technological leap forward, prompted by the pressing demands of the ZLB.”

In a previous presentation, Haldane stated that digital currencies are “harder money” than a gold standard, because “sustained adoption would see ongoing deflation.” A few months ago the Bank of England published a research paper titled “Innovations in payment technologies and the emergence of digital currencies .”

“The distributed ledger is a genuine technological innovation that demonstrates that digital records can be held securely without any central authority,” reads the conclusion of the paper. A recent U.K. Treasury document titled “Digital Currencies: Response to the Call for Information ” shows that the British government is interested in supporting and understanding blockchain-based digital fintech, and understands the potential benefits it could bring to society.

The post Bank of England Chief Economist: Blockchain-based Digital Currency Issued by Central Banks Could Replace Cash appeared first on Bitcoin Magazine.

In a talk given at the Portadown Chamber of Commerce in Northern Ireland on September 18, Andrew G Haldane, Chief Economist at the Bank of England (BoE), has hinted at the possibility that the U.K. government might issue a digital currency. Though the disclaimer “The views are not necessarily those of the Bank of England or the Monetary Policy Committee” ensures plausible deniability, Haldane’s talk seems to indicate that the BoE is at least seriously considering the possibility. Haldane is chief economist at the BoE and executive director of monetary analysis and statistics. Listed by Time Magazine in 2014 as one of the 100 most influential people in the world, Haldane is a member of BoE’s Monetary Policy Committee and […]

The post Bank of England Chief Economist: Blockchain-based Digital Currency Issued by Central Banks Could Replace Cash appeared first on Bitcoin Magazine.

Bitcoin startup Sig3 has introduced an independent third-party automated co-signer which automatically co-signs transactions based on the policies and criteria implemented by its users.

With Sig3, users can customize and set their own policies to determine the criteria for transaction authorization and verification. Based on the policies implemented by the user, Sig3 automatically co-signs the transaction, adding another layer of security on top of the multi-sig transaction.

“Sig3 is at the intersection of security and usability. We’re redefining what it means to transact simply and securely with bitcoin. In order to have a truly secure and well functioning blockchain application, developers need to incorporate multi-sig technology and multi-sig services like Sig3 need to provide a user friendly interface to increase adoption,” said Sig3 CEO Brian Nelson in an email to Bitcoin Magazine.

The platform is currently integrated with Copay, an open-source multi-signature wallet from leading bitcoin processor BitPay. With Copay, users will be able to send secure transactions by distributing three private keys between Copay, Sig3 and themselves. Since all three private keys held by the user, Copay and Sig3 are required to send or settle a transaction, it creates a whole new level of security limited with other multi-signature platforms available in the market.

“Sig3’s goal is to make transacting with bitcoin as easy as it used to be, but with the security of the future,” explains the Sig3 team.

The startup has begun developing an API for developers and for easier integration process. Sig3 will also be integrating more multi-signature wallets to its platform, to provide its users with a variety of options.

The post Sig3 Launches an Automated Policy-Based Transaction Cosigner for Multisig Bitcoin Transactions appeared first on Bitcoin Magazine.

Bitcoin startup Sig3 has introduced an independent third-party automated co-signer which automatically co-signs transactions based on the policies and criteria implemented by its users. With Sig3, users can customize and set their own policies to determine the criteria for transaction authorization and verification. Based on the policies implemented by the user, Sig3 automatically co-signs the transaction, adding another layer of security on top of the multi-sig transaction. The platform is currently integrated with Copay, an open-source multi-signature wallet from leading bitcoin processor BitPay. With Copay, users will be able to send secure transactions by distributing three private keys between Copay, Sig3 and themselves. Since all three private keys held by the user, Copay and Sig3 are required to send or […]

The post Sig3 Launches an Automated Policy-Based Transaction Cosigner for Multisig Bitcoin Transactions appeared first on Bitcoin Magazine.

Leading bitcoin security platform and multi-signature / P2SH (pay-to-script hash) bitcoin wallet provider BitGo has transacted more than $1 billion worth of bitcoin transactions in a single quarter.

“BitGo was the first to pioneer the secure, multi-signature wallet platform for bitcoin,” said BitGo CEO and co-founder Mike Belshe. “Security is never a finished feature, so we’re continually raising the bar. As we reach this billion-dollar milestone, we’re happy know so many customers are seeing the value of our solution.”

The BitGo wallet platform and API have not experienced a single breach or theft of bitcoin since its launch in 2013. The company has been focused on creating the world’s most secure bitcoin wallet, prioritizing security and multi-signature solutions.

The platform’s API services and products designed for both developers and institutions enable users to create hundreds of thousands of addresses, with a real-time view of digital asset transactions and settlements.

“For the sake of accuracy, our metrics do not count change address outputs. As an example, if a user sends someone $13 from a wallet with $17 in it, we only count the $13 transaction and not the transfer of $4 back into the wallet.” said Regina Scolaro, Director of Marketing for BitGo. “We have chosen to use this methodology because we believe that in order to get a true sense of activity within the Bitcoin space, this should be the standard measurement.”

Furthermore, the BitGo platform has secured its bitcoin wallets with multi-signature pay-to-script hash technology, also known as P2SH, allowing users to send bitcoin to addresses secured in various unusual ways without knowing much about the security details, thus creating completely unique transactions and settlements.

The post BitGo Processes Over $1 Billion in Bitcoin Transactions in Third Quarter appeared first on Bitcoin Magazine.

Leading bitcoin security platform and multi-signature / P2SH (pay-to-script hash) bitcoin wallet provider BitGo has transacted more than $1 billion worth of bitcoin transactions in a single quarter. “BitGo was the first to pioneer the secure, multi-signature wallet platform for bitcoin,” said BitGo CEO and co-founder Mike Belshe. “Security is never a finished feature, so we’re continually raising the bar. As we reach this billion-dollar milestone, we’re happy know so many customers are seeing the value of our solution.” The BitGo wallet platform and API have not experienced a single breach or theft of bitcoin since its launch in 2013. The company has been focused on creating the world’s most secure bitcoin wallet, prioritizing security and multi-signature solutions. The platform’s […]

The post BitGo Processes Over $1 Billion in Bitcoin Transactions in Third Quarter appeared first on Bitcoin Magazine.

Just how much do we know about new underground economies? Here's what available data can tell us about bitcoin on the Dark Web.

KeepKey's new USB bitcoin wallet has gone on sale, enabling consumers to store their bitcoins offline.

Rod Sims, chairman of ACCC, is considering to investigate the anti-competitive behaviour which is shown by most major banks of Australia when it comes to bitcoin companies, the Australia Financial Review reports. Rod Sims, the chairman of the Australia Competition and Consumer Commission, is considering initiating an investigation into the matter of Australia banks taking the action of shutting down accounts of local bitcoin operators. Sims is pondering over the decision after being contacted by Matthew Canavan, a Queensland Nationals Senator. Senator Matthey Canavan was a part of the Senate Committee that recently looked into bitcoin and other such cryptographic […]

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When bitcoin first emerged banks didn't want anything to do with it. But a few years down the line and pretty much all of them are looking at it.

Although no British High Street banks currently accept bitcoin — Barclays is tipped to become the first — many of them are experimenting to varying degrees with the record-keeping technology that underpins it, the blockchain.

Earlier this month 9 leading banks formed a partnership, headed by startup R3, to create a common "fabric" of blockchain for mainstream banking — essentially establishing the ground rules.

The blockchain software works like a distributed ledger, recording and enabling transactions. It essentially eliminates the need for a trusted middleman to sit in between an exchange, as the software itself acts as the trusted middleman.

This has the potential to make transactions quicker, cheaper, and easier than currently possible, and also has potential applications for things like issuing shares.

Check out what the banks are up to, ranked from least to most advanced on bitcoin and blockchain adoption.

14. MORGAN STANLEY: 'totally surreal'

Morgan Stanley has been cautious in its approach to cryptocurrency. The bank hosted an event centered around the cryptocurrency at its New York headquarters last March, but CEO James Gorman has called bitcoin "totally surreal."

13. LLOYDS: hackathon sponsor

Lloyds has been one of the quietest when it comes to dealing with bitcoin and the blockchain. The bank has published a guide to the cryptocurrency on its website, but beyond that has only sponsored hackathons dealing with the technology.

12. BANK OF AMERICA MERRILL LYNCH: bitcoin 'may emerge as a serious competitor to traditional money transfer providers'

Bank of America Merrill Lynch was one of the first banks to write about bitcoin back in December 2013. Strategist David Woo saying the cryptocurrency could "become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers."

Woo has said however that he doesn't rate bitcoin as an investment.

NOW WATCH: This is how rapper 50 Cent made millions and then lost it

Vietnam’s largest Bitcoin exchange, VBTC, is relaunching on BlinkTrade’s Bitcoin exchange platform with an eye on Vietnam’s USD $14 billion remittance market. The exchange promises one-hour international remittances to Vietnam with cash withdrawals at thousands of locations nationwide. VBTC, a project of startup Bitcoin Vietnam, is taking aim at the unbanked population and will enable users to deposit and withdraw cash from more than 9,200 locations across Vietnam. Verified users enjoy instant bitcoin deposits, which enable them to trade without keeping funds on deposit at all times at VBTC. Reserves Held in Cold Multisig Wallet VBTC says it’s serious about […]

The post Vietnam’s VBTC Bitcoin Exchange Relaunches with Help from BlinkTrade appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

California-based cloud security company Zscaler has just raised $25 million from Google Capital, adding to an oversubscribed round of funding amounting to $85 million from August.

The post Cloud-Security Firm Zscaler Completes a $110 Million Funding Round appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Factom strives to become a data and record keeping layer of Bitcoin. The project has received ample attention the world over, as the startup has even partnered with the Honduras government to work on a land title initiative and with USAA as an informal consultant. The startup released the genesis block of its protocol a few weeks ago. The data on Factom is kept off block chain, and the protocol features its own distributed public data layer. Every ten minutes, Factom compiles the data in a merkle tree anchor and publishes it into the Bitcoin block chain. When you think […]

The post Block Chain Startup Factom Tackles Data Problems; Bitcoin Can’t Handle the Transaction Volume appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

 Meet Stampery, a startup that wants to replace notaries with bitcoin’s blockchain. The service can issue legally binding proofs for all your sensitive documents, and the company is presenting its next version on stage today at Disrupt SF. Read More

The first recipient of the BitLicense worries that too much regulation could kill the digital payments industry.

In a new interview, DCG founder Barry Silbert opens up about the current state of bitcoin and why greed may be the industry's biggest asset.