Coin News

BitPay, the Bitcoin payment processor, has endured a troublesome week. First, it was made public a hacker gained access to the CFO’s email account and coaxed the company into sending nearly $2 million. The company recently made major changes to its free plan, as well as apparently laid off numerous employees. The company filed a lawsuit September 15 in Atlanta federal court claiming that, in December 2014, BitPay’s chief financial officer, Bryan Krohn, was tricked by a hacker into sending $1.8 million to a hacker. "After capturing Mr. Krohn's Bitpay credentials, the hacker used that information to hack into Mr. […]

The post Troubles Continue for BitPay in Wake Of Hack appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

American academia has offered courses across the country on cryptocurrencies for a couple of years now. New York University, Duke University, Princeton and others have all offered courses on Bitcoin. The Stanford University School of Engineering in Stanford, Calif. offers a new course, Bitcoin & Cryptocurrencies, for the Autumn semester. 100 students have enrolled and the course features labwork in which students experiment with Bitcoin applications. The syllabus is available here. There is no limit as to how many students may enroll. The course professors are Professor Dan Boneh and Professor Joseph Bonneau “We'll be covering Bitcoin itself in detail […]

The post Stanford University Course Could Grow Bitcoin Community, Says Professor appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

BitFury will invest $100m in building a 100MW bitcoin mining data centre in Georgia, according to a new report.

If Advanced LIGO still can't find gravity waves, something is wrong in astrophysics.

The post The Long Search for Elusive Ripples in Spacetime appeared first on WIRED.

The US CFTC has settled charges against bitcoin swap facility TeraExchange for failing to enforce trading prohibitions.

In a rare move in the Bitcoin space, KeepKey has simultaneously begun to take orders for and to ship their flagship bitcoin hardware wallet. As of Wednesday, customers are able to purchase the USB device for USD$239 on Amazon, or directly from the KeepKey website using bitcoin. Worldwide shipping is included in the cost.

The KeepKey hardware wallet is designed to store and secure bitcoin while protecting them from virtual attacks such as malware and viruses. The device generates and stores bitcoin private keys, never sharing them with the connected computer. Another key feature is a large OLED screen that displays every transaction before it can be approved, thus allowing users to verify that they are sending funds to the correct address and reducing the chance of error.

“Our guiding principle is to empower individuals and organizations with bank-grade bitcoin security,” says Darin Stanchfield, the founder of the company. “This is what our device does, and it is simple to use. Other products that are available require a high level of sophistication to operate. With KeepKey, it is very difficult to do the wrong thing,”

KeepKey currently works with Google Chrome using the KeepKey Wallet Extension . It is also supported by popular bitcoin wallets, including Electrum and MultiBit .

“Our security model was designed to ensure that the user always has complete control over their private keys,” said Ken Heutmaker, a software engineer at KeepKey. “We feel that relying on trusted third parties degrades the security and privacy that the bitcoin ecosystem offers.”

As for KeepKey’s decision not to take pre-orders in order to fund the hardware wallet’s development, Stanchfield cites his own personal experience with being “burned” by other companies who have pre-sold items and then not been able to deliver.

“A customer takes enough risk when they buy any product,” Stanchfield said to Bitcoin Magazine . “We don’t think they should assume the risk of funding manufacturing, too. We made this promise to ourselves early on in development of KeepKey. Fortunately, we have had the finances to pursue this route to get KeepKey to market.”

The post Bitcoin Hardware Wallet KeepKey Launches and Begins Shipping appeared first on Bitcoin Magazine.

In a rare move in the Bitcoin space, KeepKey has simultaneously begun to take orders for and to ship their flagship bitcoin hardware wallet. As of Wednesday, customers are able to purchase the USB device for USD$239 on Amazon, or directly from the KeepKey website using bitcoin. Worldwide shipping is included in the cost. The KeepKey hardware wallet is designed to store and secure bitcoin while protecting them from virtual attacks such as malware and viruses. The device generates and stores bitcoin private keys, never sharing them with the connected computer. Another key feature is a large OLED screen that displays every transaction before it can be approved, thus allowing users to verify that they are sending funds to the […]

The post Bitcoin Hardware Wallet KeepKey Launches and Begins Shipping appeared first on Bitcoin Magazine.

Security researchers have discovered that the malicious app campaign plaguing Apple’s App Store is far worse than initially thought, with over 4000 App store applications affected by the XcodeGhost malware.

The post XcodeGhost Malware Infects over 4,000 iOS Apps appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The Hubble Space Telescope took a new image of the Veil Nebula, a supernova remnant from a star that exploded 8,000 years ago, and made this truly spectacular flyover visualization of the beautiful ripple in space that you can see below. In the 3D visualization, red is sulfur, green is hydrogen and blue is oxygen.

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On September 22nd, the winners of the European division of the BBVA Open Talent Competition were announced in Barcelona, Spain. This year, three of the 15 finalists come from the Bitcoin and blockchain sector: Everledger , Safello and Vaultoro .

The purpose of the competition is to discover and support up-and-coming innovators in financial technology who are poised to “disrupt [the banking] industry in e-commerce, security, mobile payments, data and others.”

The two winners are selected from each of three territories: Europe, Latin America and the United States and the rest of the world. Those six companies not only take home $30,000 each, but also benefit from extensive mentoring and networking support from BBVA in the form of a two-week intensive course.

This year, Everledger was named one of the two European winners.

Based in the U.K., Everledger is a permanent ledger for diamond certification and related transaction history. Using blockchain technology, it acts as a fraud-detection system, overlaying big data from closed sources such as insurers and law enforcement.

“BBVA Open Talent provides an inflection point in the growth curve of Everledger and validates our role in the financial services ecosystem,” Everledger’s CEO Leanne Kemp told Bitcoin Magazine .

“Everledger is a business that will make a difference: At our very core we focus on the ongoing presence of blood diamonds, combatting fraud, theft and counterfeit luxury goods — a problem for consumers, law enforcement and insurers that tops £50 billion a year,” she said. “Blockchain provides a distributed global solution to a fragmented, scattered and complex global problem. With the support from the Barclays Accelerator, and now as a finalist in the BBVA Open Talent Competition, we are having conversations to create new financial and insurance products for diamonds.”

Joshua Scigala, co-founder of Vaultoro, was enthusiastic about the BBVA’s inclusion of his U.K.-based bitcoin and gold exchange.

“We are really proud to be a finalist in the BBVA awards,” Scigala told Bitcoin Magazine . “The developing world skipped the landline and went direct to mobile phones. They are now doing the same with traditional branch banking because it’s just too uneconomical to set up. Vaultoro enables anyone to easily enter the global economy securely by utilizing the native Internet currency, bitcoin, and removing the extreme volatility by combining the security of assigned gold bullion. This will go very far towards ending poverty by including a potential 5 billion people who have no real access to banking.”

Vaultoro is a real-time Bitcoin gold exchange that allows its users to convert their bitcoin instantly to gold and back, alleviating volatility risk for bitcoin users. Its “bank-independent trading” allows users to trade gold in amounts as small as 0.001 gram.

The third bitcoin finalist, Safello, is a Swedish-based exchange that works with a wide network of European banks providing direct payment options, allowing customers to buy and sell bitcoin instantly, thereby avoiding exposure to market volatility.

“What’s most noticeable about this Open Challenge is the sheer amount Bitcoin selected,” Frank Schuil, CEO of Safello, told Bitcoin Magazine . “It shows the dedication from BBVA to embrace blockchain technology. With regards to our selection, of course our recent announcement with Barclays is sparking interest from other financial institutions. The fact that we are essentially building a new type of bank on top of blockchain technology is sparking interest.”

Everledger joins BitNexo , winner of the Latin American regional competition, as the second Bitcoin-based company to take home a BBVA award this year.

“In BitNexo’s mission to bring simplicity, speed and savings to cross border payments for SMBs through the use of blockchain technology, we had the honor of sharing the stage with 13 other amazing FinTech Startups from all around Latin America,” said Darren Camas, CEO and co-founder of BitNexo in a blog post . “To say I was impressed with the level of competition is an understatement.”

Information about all 15 finalists can be found on the BBVA Open Talent competition website .

The post Three Bitcoin Finalists Vie for BBVA Open Talent Competition Honors in Barcelona appeared first on Bitcoin Magazine.

On September 22nd, the winners of the European division of the BBVA Open Talent Competition were announced in Barcelona, Spain. This year, three of the 15 finalists come from the Bitcoin and blockchain sector: Everledger, Safello and Vaultoro. The purpose of the competition is to discover and support up-and-coming innovators in financial technology who are poised to “disrupt [the banking] industry in e-commerce, security, mobile payments, data and others.” The two winners are selected from each of three territories: Europe, Latin America and the United States and the rest of the world. Those six companies not only take home $30,000 each, but also benefit from extensive mentoring and networking support from BBVA in the form of a two-week intensive course. […]

The post Three Bitcoin Finalists Vie for BBVA Open Talent Competition Honors in Barcelona appeared first on Bitcoin Magazine.

The Australian Competition and Consumer Commission has confirmed the launch of a formal investigation about the abrupt termination of banking support for many bitcoin companies in the country.

“It appears to me to be an amazing coincidence that a number of large banks have all of a sudden decided to deny services to fledgling Bitcoin and digital currency operators. They are clearly competitors to their business model, albeit small ones at this stage, and there are clear laws that we’ve got against businesses refusing to supply other businesses if they do so for an anti-competitive purpose.” said Senator Matthew Canavan , who encouraged the ACCC chairman Rodd Sims to lead an investigation on the incident.

Canavan requested an investigation to question the banks’ motive and reasoning behind the blacklisting of bitcoin companies.

“I think the ACCC should be asking the banks some serious questions about why they’ve done this and on what legal grounds they believe that they should not be providing services to Bitcoin operators,” said Canavan.

It has been reported that 17 bitcoin companies in Australia have had their bank accounts closed down, and have been cut off completely from all banking support.

“I’ve been blacklisted from Commonwealth Bank, National Australia Bank, Westpac, St George, Bank of Melbourne, Bank SA, Bank of Queensland, Rams and BT Superfund,” said Bitcoin trader Michaela Juric .

The post Australian Regulators Investigating Banks for Closing Accounts of Bitcoin Companies appeared first on Bitcoin Magazine.

The Australian Competition and Consumer Commission has confirmed the launch of a formal investigation about the abrupt termination of banking support for many bitcoin companies in the country. “It appears to me to be an amazing coincidence that a number of large banks have all of a sudden decided to deny services to fledgling Bitcoin and digital currency operators. They are clearly competitors to their business model, albeit small ones at this stage, and there are clear laws that we’ve got against businesses refusing to supply other businesses if they do so for an anti-competitive purpose.” said Senator Matthew Canavan, who encouraged the ACCC chairman Rodd Sims to lead an investigation on the incident. Canavan requested an investigation to question […]

The post Austrailian Regulators Investigating Banks for Closing Accounts of Bitcoin Companies appeared first on Bitcoin Magazine.

Bitcoin price is making a gradual advance as the market chooses to forgo opportunities to resume decline. A strained upside push may accelerate, but for now it seems doomed to end abruptly. 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: 15h11 UTC Bitfinex 1-Hour Chart From the analysis pages of xbt.social, earlier today: Price is pushing higher in a gradual upward curve, as opportune moments for decline are passed over in favor […]

The post Bitcoin Price Higher In Choppy Trade appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The Bitcoin startup 21 Inc., backed by venture-capital firm Andreessen Horowitz, has garnered much press attention over the release of its first product. The product, a small Linux computer wherein the Bitcoin protocol is part of the operating systems, has concerned some Bitcoin experts, who suggest the product could allow 21 Inc. to accumulate mining power. The company is excited about the product. “I’m very excited about it,” said Ben Horowitz, a co-founder of Andreessen Horowitz, told Wall Street Journal. “The thing that’s completely missing that I think would make the Internet better would be machine-to-machine payments. It’s just amazingly […]

The post Could The 21 Bitcoin Computer Centralize Bitcoin? appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Coinbase sparked controversy within the largely open-source dedicated Bitcoin industry after filing for nine patents this year. Some Bitcoiners suggested Coinbase had it in mind to create a monopoly over key Bitcoin services with the move. CEO Brian Armstrong assures this is not the case.  Bitcoin exchange and payment processor Coinbase filed nine patent applications with the US Patent and Trademark Office (USPTO). The USPTO received the submission on March 17. The filings were published this month, and include applications for products like hot bitcoin wallets, an instant exchange, a Bitcoin exchange, a Bitcoin tipping button and two different block chain transaction […]

The post Coinbase Could Go the Tesla Route With Patents, CEO Confirms appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Adult entertainment provider Naughty America is once again taking bitcoin, after the currency vanished from its checkout over one year ago.

The personal email account of Hillary Clinton is revealed. She is supposed to have exclusively used her personal email during her tenure as Secretary of State - which is a possible violation of federal record-keeping laws. The news was first reported by Gawker.

The post Hillary Clinton’s Secret Email Revealed appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Marketed as a way to discuss in person major issues regarding the Bitcoin technology, the Scaling Bitcoin Workshop was attended by many of Bitcoin’s most prominent developers to discuss technical issues facing the digital currency earlier this month. Now, they look forward to a similar event, "Phase II," in Hong Kong in December.  The Montreal conference was held under Chatham House Rules, meaning, while the entire conference is transcribed, who said what will not be known.  “Many [were] interested or at least willing to accept a ‘short term bump,’ a hard fork to modify block size limit regime to be […]

The post Scaling Bitcoin Workshop Looks Forward To Hong Kong in December appeared first on CCN: Financial Bitcoin & Cryptocurrency News.