The Daily Decrypt, Published on Nov 30, 2015
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For a volatile asset, like bitcoin lately is, binary options provide an easy way to manage your exposure and emotions. As your losses are limited it is less likely that you will make impulse trades that are not in-line with your plan. In fact, it is easier to have a proper trading plan with binaries in the first place.
How? This article will guide you through it in 4 simple steps!
Let’s begin with a quick look at the factors that could fuel a new up-trend in the cryptocurrency!
The Bullish Case for Bitcoin
Bitcoin enjoyed a great run-up since the end of August; the price has risen from around $200 to as high as $450 in early November. Although since then the market experienced a correction back to $300, BTC looks to hold that all-important level. $300 is the upper barrier of the trading range where bitcoin consolidated after its steep decline in 2014. Now that it has broken out of the range decisively, the technical picture looks promising.
Building a binary options position in bitcoin
Binary options only require you to guess the direction of the price of the given asset from the current level. Looking at the technical evidence and the obviously positive fundamental background, BTC is a clear bullish candidate. Now you only need to figure out the optimal strike price and expiration date to get you going.
But before that you will need a binary broker to give you access to these products!
It is not often we can take the time to educate people on some of the core Bitcoin terminologies, but some misconceptions need to be addressed sooner rather than later. The recent issues affecting the Blockchain.info wallet and website are causing many people to believe there is something wrong with the Bitcoin blockchain, although they are two different matters entirely.
Blockchain.info is Not The Bitcoin Blockchain
Albeit the name Blockchain.info is aptly chosen to draw in a lot of novice users to the Bitcoin ecosystem, it has also been the source of great confusion for quite some time now. Many users associated Blockchain.info with the Bitcoin blockchain, as it is their go-to source to check on transactions and wallet addresses, even though there are other options available.
In recent months, Blockchain.info has been facing a fair few outages, ranging from a few minutes to an entire day or even longer. Users who have installed the Blockchain.info wallet on any of their devices are greeted with error messages saying how there is an issue with the service. For some people this automatically means the entire Bitcoin blockchain is no longer operational.
cointelegraph.com / Lana Smiley / 2015-12-01 02:30 PM
SatoshiLabs presented Trezor in the summer of 2014. It was the first hardware wallet or so-calledcold 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.
Perhaps, simplicity of use is the most important feature of any device. The device itself can be super safe and super innovative but if it’s too difficult to use, people will probably turn to something simpler and more understandable. It’s not fun to have a device and have no idea what to do with it.
newsbtc.com / Joseph Young /
The Central Bank of Barbados is considering to include cryptocurrencies in the portfolio of international reserves according to its latest document drafted by Winston Moore and Jeremy Stephen.
Most central banks worldwide maintain a portfolio of assets which include gold, foreign exchange and internationally recognised reserve assets to allow countries to settle international transactions.
Since the beginning of 2015, central banks such as the Bank of England have begun to explore the possibility of utilizing cryptocurrencies such as Bitcoin and its underlying technology, the distributed ledger technology to restructure their existing financial systems.
Bitcoin and other cryptocurrencies are based on a distributed ledger, also known as the blockchain technology. It provides greater transparency and as a peer to peer network, enables cheap international micro transactions.
Furthermore, central banks and governments could greatly benefit from the liquidity of digital currencies such as Bitcoin. Unlike alternative currencies including gold and silver bitcoin can be used to send and receive transactions internationally instantly.
digitalmoneytimes.com / BY
Many people around the world would like nothing more than to keep an eye on the Bitcoin price at any time of any day. However, that is not always possible, as people need to work and sleep as well, every now and then. Real Coin Tickers has come up with a creative solution to solve this problem, with their recently launched Tixie, a physical Bitcoin price ticker.
Meet Tixie, Your Alarm Clock Companion
It has to be said, the Tixie physical Bitcoin price ticker created by Real Coin Tickers looks quite stunning. Although the images provided to us only showcase the prototype, the device itself wouldn’t look out of place in anyone’s bedroom or living room. Rather than checking the Bitcoin price on a computer or mobile device all the time, why not put it somewhere you can see it at any time?
In fact, a lot of people are eyeing the Bitcoin price closely throughout the day. This stems forth from the idea many people have to label Bitcoin as an investment vehicle, rather than to use it as a proper currency. Stand-alone applications and websites displaying the Bitcoin price can only grasp the imagination for so long and a physical device seems to be a proper solution.
What makes Tixie stand out from most other prototypes is the sheer elegance of the device itself. Solutions like these have to be pleasing on the eye, especially when trying to address a mainstream audience with it. Real Coin Tickers have done a great job in that department, and they have even added ambient light, to boot.
David Seaman, Published on Nov 30, 2015
Bitcoin, the decentralized cryptocurrency launched in 2009, now has a feisty multi-talented sibling in Ethereum. Microsoft is already working with the Ethereum blockchain–I explain why it appeals to them, and why it may appeal to many other large businesses in the future.
Bitcoin Price Key Highlights
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.
techcrunch.com / Alex Wilhelm / November 30, 2015
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.
cointelegraph.com / Albert Libenzon / 2015-12-01 11:45 AM
As expected, the pair BTC/USD has spent the last day of autumn without any rush. The BitcoinCT r: 8 price remained in the range of $350 – $380. Yesterdays’ sideways trend could be attributed to the expectation of correction before another rise. Considering weak statistics from the US Dollar there is no reason for its growth today.
Today it is obvious that the sideways trend will continue on the level of $350 – $400.
letstalkbitcoin.com / SHANKAR NARAYANAN SGS / NOVEMBER 30TH, 2015
It’s the usual tropical season here in Chennai, India, but this year is not like any other. Rain brought floods and chaos, causing the city to float. The continuous rain for the past month has surpassed all the odds and brought a halt to the usual life.
Too much rain, too little space
The state of Tamil Nadu has received 485 mm of rain so far. The amount already exceeded the seasonal average of 438 mm. Further rain is expected around the corner as more storms are yet to move to the shore. In November alone, the state has received 352 mm of rain, which is more than twice the monthly average of 170 mm. The city of Chennai has received 1186 mm of rain in the month of November, which is three times the monthly average of 407 mm. On five occasions this month, Chennai recorded three-digit, 24-hour rainfall. The greatest amount of 265 mm fell between November 15 and 16, according to the skymetweather.
cnbc.com / Kerin Hope and Peter Campbell / December 1, 2015
Internet banking has grown rapidly in Greece following the government’s introduction of capital controls in June, to curb a bank run that threatened a to bring down the financial system and force Greece out of the euro. More than 200,000 new internet back accounts have been registered since then, to facilitate customers making domestic transactions.
“These attacks are extremely serious but we were able to boost security and add capacity with the help of local internet service providers,” said one senior Greek banker.
Paul Vlissidis, technical director at cyber security group NCC, said the Armada Collective, which has carried out several attacks in recent months, attempts to extort money from businesses that are vulnerable to attack.
ibtimes.co.uk / Ian Allison /
On 14 December, a high court in Kenya will come to a preliminary decision in a battle between Bitcoin remittance and payments company BitPesa, which is suing Safaricom, the telecom company which operates M-Pesa. Also suing is Lipisha, the payment company that gateways BitPesa and M-Pesa.
Safaricom had stopped Lipisha processing M-Pesa transactions, freezing monies pertaining to Lipisha transactions in its accounts – apparently the payment handler was notified by way of a text message. Safaricom later reinstated Lipisha’s access, but only did so on the condition that Lipisha terminate its relationship with BitPesa, giving Lipisha only one hour to decide. Lipisha and BitPesa claim Safaricom has no legal right to do so and is infringing upon “rights to acquire and own property, fair administration and economic interests”.
Safaricom says BitPesa does not meet the grade regarding anti-money laundering requirements, invoking the need for a licence to be able to connect to its customers. Under the auspices of Lipisha, BitPesa converted its customers’ bitcoins into Kenyan shillings and sent them to recipients’ M-Pesa. It is unclear exactly how, or by whom, AML rules will be enforced in this case. In the meantime, transactions between the platforms remain suspended.
Bitpesa told IBTimes UK: “BitPesa has implemented AML/KYC policies that comply with Kenyan legal and regulatory requirements. We have freely submitted them to the Central Bank of Kenya, as well as regulators in other jurisdictions in which we operate. We hold ourselves to the highest standards when it comes to AML/KYC compliance.
“As we have detailed in our court filings, the Central Bank of Kenya has informed us that we fall outside its money transmission and money remittance regulations. Safaricom cannot demand that BitPesa produce a licence from the Central Bank that the Central Bank itself considers inapplicable to BitPesa’s business.”
There’s plenty of irony to go round here. Bitcoin and M-Pesa should not be pitted against one another, as the title of this article suggests; both are elements of a payments revolution that is happening right now and which will be remembered as one of the great technology success stories of the 21st century.
coindesk.com / November 30, 2015 at 20:15 GMT
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 users and attest to his compliance with national law. A representative for the Estonian Police later denied that de Voogd was threatened.
bitcoinmagazine.com / Nick Abouzeid / 4:08 AM China Standard Time December 1st, 2015
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.
insidebitcoins.com / Kyle Torpey / Nov 30, 2015 4:15 PM EST
Although Bitcoin came onto the fintech scene with some real power behind it in 2013, the overall amount of attention paid to the peer-to-peer digital cash system has fizzled out a bit over the past two years. While there is still a die hard user base that believes bitcoin is the future of money, startups in the space have found it difficult to attract new users to the blockchain.
At least one company involved in Bitcoin has noticed this slowed growth of new users in bitcoin. GyftCo-Founder and CEO Vinny Lingham talked about the lack of new bitcoin users on a panel related to mass adoption of the cryptocurrency at Consensus 2015. Unlike some other executives in the Bitcoin space, Lingham has a desire to talk plainly about the slowing growth of Bitcoin adoption among the general public.
Slow Growth is an Industry-Wide Issue
When asked whether the large amount of growth in bitcoin users seen in 2013 has sustained itself over the past year or so, Lingham first clarified that the acceptance of bitcoin has been a net-positive for Gyft. After making that comment, he also bluntly stated growth in the number of new people using bitcoin has slowed:
thestreet.com / Michael Sonnenshein / 11/30/15 – 12:54 PM EST
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 capabilitiesthat utilize bitcoin and the blockchain technology on which it’s built, and may transform the financial services landscape forever — and for better.
bitcoinmagazine.com / Aaron van Wirdum / 12:59 AM China Standard Time December 1st, 2015
Slush Pool, a Czech-based Bitcoin mining pool accounting for 6 percent of hashing power on the Bitcoin network, indicates it will re-enable connected miners to vote for a block-size increase through BIP (Bitcoin Improvement Proposal) 101. Slush Pool was the first mining pool on the Bitcoin network to allow miners to vote for BIP 101, but recently suspended this option due to sustained DDoS attackson its servers.
Speaking to Bitcoin Magazine, Slush Pool operator Marek Palatinus said: “We’re strengthening our infrastructure and we plan to enable BIP 101 mining again.”
The block-size dispute might reach a critical juncture over the next weeks, with the upcomingScaling Bitcoin workshop in Hong Kong in the first week of December, and the stated intent of several prominent Bitcoin companies to change their code to allow for bigger blocks that same month. As such, Bitcoin miners (and pools) might be faced with an important decision as to which code they will support.
Palatinus said that the effort to re-enable miners to vote for bigger blocks is unrelated to this “December deadline,” however.
“We’re not focused on December with our decision, but we still think the block-size limit should be increased,” Palatinus explained. “Sometimes there are already blocks full of valid transactions, and there’s not any particular reason why user experience with bitcoin transactions should be limited because of an arbitrary limit of 1 megabyte.”
cointelegraph.com / John Frost / 2015-12-01 09:00 AM
The Bank of England has launched a competition for BitcoinCT r: 8 enthusiasts to make a positive difference in society. The competition’s mission is to maintain monetary and financial stability in the United Kingdom.
This competition is open to students from all countries, and winners will have the chance to get the prize of a paid internship or a place at a graduate assessment centre.
Founded in 1694, the Bank of England is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank’s mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.
To participate, students must submit their applications by December 7th.
insidebitcoins.com / By Kyle Torpey / Nov 30, 2015 2:30 PM EST
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.
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:
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