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[Ep.40] Black Friday fun. Adamant investing. Multichain & Bitcrawling.

[Ep.39] Cyberfund ratings. Full node support. Halvening art & eye strain PSA.

The Daily Decrypt, Published on Nov 26, 2015

Cyberfund rates cryptotokens. Chris Ellis offers support for starting Bitcoin full node. Halvening in 34 weeks; art to celebrate. Eye strain no more.

3 Black Friday 2015 Deals You Can’t Miss

David Seaman, Published on Nov 27, 2015

It’s Black Friday in the US now, and before you know it even better Cyber Monday deals will be here.

Bitcoin Price Breaks to the Upside; Long Entries On! / 

In this morning’s bitcoin price watch piece, we are going to take a look at the levels that proved important overnight, and try and attempt to put together a strategy for today’s intraday trading throughout the European session. Its been a lively few days in the bitcoin markets, and with the launch of the NewsBTC Live Trading Room looming, it’s a great time to get some volatility. So, with this said, here’s what we are watching today, alongside a definition of our risk management parameters for today’s session. First up, as ever, take a look at the chart to get an idea of what we’re watching.


London Black Cab Drivers May Soon Accept Indirect Bitcoin Payments / JP Buntinx / November 27, 2015

There is some fierce competition going on in the transportation sector, as cab drivers face stiff competition from sharing economy alternatives like Uber and Lyft. Staying competitive can be achieved in multiple ways, including accepting new forms of payments. London black cab drivers may soon start to accept plastic cards and contactless payments to make the user experience more convenient.

Also read: American Airlines No Longer Accepts Argentine Peso – Opportunity for Bitcoin

Card And Contactless Payments For Black Cab Rides

Up until this point, paying the black cab driver in London had to be done in cash. It goes without saying that cash payments are not only quite annoying when people are in a hurry, but it also creates a security risk for both the customer and driver. Also, in this day and age, less and less people are using cash to begin with, and it was only a matter of time until alternative payment options were supported.

Thanks to a deal between credit card companies and Transport for London, customers can now pay for a black cab ride with plastic cards and contactless payments. In fact, this decision follows on the heels of a public consultation regarding these payment methods, which saw an overwhelmingly positive response from consumers looking to ditch the cash payment method.


News websites offer bitcoin bounty over DDoS attacker / Rene Millman / 

In a ransom situation, is striking back the right response?

CryptoCoinNews and Hacked offer bounty of five bitcoins to catch blackmailer who is holding them to ransom with DDoS threat

Two websites have put up a bounty to catch criminals who targeted their websites with aDDoS attack and extortion attempt.

CryptoCoinsNews (CCN) and its sister-site Hacked are offering a five bitcoin reward for information that leads to the arrest of an extortionist targeting them with a distributed denial of service attack.

The criminal is not only threatening this attack but has also made a number of other threats to the websites. The extortionist, who goes by the name of “Jon”, sent an email to the publications demanding two Bitcoins to reveal ‘fatal security vulnerabilities’ on the website while threatening to contact its advertisers to let them know the websites are down.

It was claimed by the criminal that he had access to a botnet intended for mounting DDoS attacks. The criminal launched an attack against the sites before emailing their demands. They said they were only using 20 percent of the botnet’s capabilities to down the site. They added that if the payment was not forthcoming more attacks would be launched and the demand would increase to three Bitcoins.

Instead of being intimidated by the hackers, the sites increased their DDoS mitigation and decided to put out a five Bitcoin bounty on the attacker – worth about £1200 at current exchange rates.


Citi, Nordea Select Bitcoin Compliance Firm for Accelerators / Pete Rizzo / November 27, 2015 at 12:00 GMT

As global financial institutions become more interested in bitcoin and blockchain technology, some are beginning to invest and work with startups they believe will empower them with the tools to one day engage with the industry.

Today, this means partnerships like that between UK banking giant Barclays and bitcoin compliance startup Chainalysis. The two companies announced in October that Barclays would work with Chainalysis, a graduate of its New York-based FinTech accelerator, to allow its financial crimes division to better understand the technology.

Now, there are signs that this partnership may be the start of a larger strategy that could be embraced by major banks. For example, Israel-based bitcoin compliance startup Polycoin was recently accepted into two incubators, one backed by financial services giant Citi and the other by Nordic banking conglomerate Nordea.

Speaking to CoinDesk, Polycoin CEO Alfred Shaffir indicated that he believes partnerships with compliance startups will be a necessary first step for any bank seeking to become more active in their work with the technology.

Shaffir told CoinDesk:


Bitcoin Price Technical Analysis for 27/11/2015 – Potential Correction Levels / Sarah Jenn / 

Bitcoin Price Key Highlights

  • Bitcoin price recently made a strong upside break from a consolidation pattern, indicating that buying pressure is building up and that an uptrend might take place.
  • A bit of hesitation can be seen right now, though, so a correction to the short-term Fib levels might be needed before more bulls come out to play.

Bitcoin price could retreat to any of the Fibonacci retracement levels marked on the 1-hour time frame before resuming is climb to the previous highs or beyond.

Technical Signals Favor Rallies

Even though a bit of selling pressure could come into play as traders book profits off the latest rally, the Fib levels might still hold as support and draw more buyers to the mix. Price is already testing support at the 50% retracement level or $350 and might be due for a climb back to the latest highs at $370.


True financial privacy doesn’t exist for businesses operating on Bitcoin blockchain: Analyst

Reuters / FP Staff  / Nov 27, 2015 13:14 IST

Bitcoin is a powerful and successful digital currency. Based on cryptography and a decentralized ledger, it has simultaneously been heralded as the future of finance and a gateway to the criminal underworld. Governments around the world are pushing an agenda which would see the banning of end-to-end encryption on one hand and the anonymity of Bitcoin on another. End-to-end encryption has become increasingly popular across consumer software from Apple’s iMessage to WhatsApp.

The government argues it needs to be able to court-order access to private data in order to counter terrorism. This comes at the cost of both privacy and security for the general public. This threatens anonymity, one of the most powerful characteristics of Bitcoin, and the hope for crypto-anarchists who would see the Bitcoin protocol development continue along the path to true anonymity. Bitcoin’s ability to circumvent oppressive governments and offer a safe haven from the data harvesting of Google, Facebook and Amazon would disappear if de-anonymization occurred on a mass scale.

“True anonymity in Bitcoin is only a myth, currently,” notes Vijay Michalik, Research Analyst for Digital Transformation at Frost & Sullivan. “There is full visibility of all transactions. While they’re only linked to a pseudonym and not a real-world name or address, every transaction is viewable through a number of different blockchain browsers.”


Bitcoin’s journey from money laundering appeal to teaching the banks / Karen Maley / Nov 27 2015 at 12:30 PM

Bankers and economists are finding fresh virtues in the digital currency bitcoin at a time when the gold price is trading at close to six-year lows. So much so that the prominent American economist Bhagwan Chowdhry​ has nominated bitcoin inventor Satoshi Nakamoto​ for the 2016 Nobel Prize in economics.

Chowdhry, a professor of finance at UCLA, was asked by the Royal Swedish Academy of Sciences to nominate a candidate for the prize, and chose Nakamoto because bitcoin “is nothing short of revolutionary”.

In his blog, Chowdhry argued that the “bitcoin protocol” (the information program that underlies bitcoin, which is also known as the blockchain) “has spawned exciting innovations in the FinTech space by showing how many financial contracts – not just currencies – can be digitised, securely verified and stored, and transferred instantaneously from one party to another”.

He argues this is likely to result in the creation of an open, decentralised, public infrastructure for moving money, as well as other smart contracts “as easily as email but with security and nearly zero transactions costs”.

According to Chowdhry, this will mean huge changes for those working in banking, finance and the law.

“Not only will Satoshi Nakamoto’s contribution change the way we think about money, it is likely to upend the role central banks play in conducting monetary policy, destroy high-cost money transfer services…eliminate the 2-4 per cent transactions tax imposed by intermediaries such as Visa, MasterCard and Paypal, eliminate the time-consuming and expensive notary and escrow services and indeed transform the landscape of legal contracts completely,” he adds.


The First BTM Opens in Finland’s Largest Shopping Centre Itis / Erin Lace / 2015-11-26 08:35 PM

Today, November 26, 2015, Finnish leading BitcoinCT r:  6 companies and opened the first Bitcoin ATM in the largest shopping centre of Finnish capital. The Bitcoin ATM (BTM) network building is not just a hobby for Bitcoin companies in Nordic countries, now they make serious steps to make Helsinki the Bitcoin capital of Europe.

Today citizens and guests of the capital have the opportunity to buy and sell Bitcoin using a new two-way BTM located on the second floor of the Itis shopping centre in East Helsinki.

“Itis is one of the highest profile locations possible where you can install a Bitcoin ATM,” wrote’s Aleksi Vitakoski in the official press release. “If my hunch is right, this will be a big step in making Helsinki the Bitcoin capital of Europe.”

Nordic countries show their growing interest in Blockchain technologies and Finland is a top-3 country per capita in Bitcoin usage globally. With the new Bitcoin ATM in Itis both companies hope for more merchants to begin accepting Bitcoin in the nearby area.

Henry Brade, a Founder of commented on the launch of the new Bitcoin ATM toCoinTelegraphCT r:  20:


Getting To Bitcoin’s First Billion Users

David Seaman, Published on Nov 26, 2015

Bitcoin user among the first several million and wondering how Bitcoin gets to its first BILLION users? Here are some ideas for getting there faster, and some of the Bitcoin services leading the way.

We Asked a Neuroscientist How Bitcoin’s Highs and Lows Affect the Brain / JORDAN PEARSON / November 26, 2015 // 12:00 PM EST

The price of a bitcoin is a fickle thing. Two years ago this week, Bitcoin reached its highest price ever: $1,242 for a single coin in US dollars, up from $12 at the beginning of 2013. Almost immediately after that peak, the price began to sink, and today the virtual currency still hasn’t regained its former glory. The price of a bitcoin simply continues to bob up and down, from around $200 to just above $400 this year alone.

Every dip in price elicits a state of emergency from some corners of the community, and the slightest rally has people losing their ever-loving shit. But for all the volatility, a concise explanation for Bitcoin’s price changes hasn’t been found. Is it shadowy Chinese ponzi schemes? Investor-driven speculation? Intentional market manipulation? Maybe Bitcoin really is the future after all?

The answer, it turns out, could be in our heads, because for every change in Bitcoin price, there are neurons that light up like a Christmas tree in response.

“It’s all in the brain”

Researchers have done plenty of work analyzing the effects of changes in the stock market on the human brain, and vice-versa. The stock market’s behaviour is ultimately the result of the collective decision-making of many people, after all (less so today now that high-frequency trading algorithms are popular), and decisions are physiological things; they happen in the brain. And just like the price of a stock, Bitcoin price is largely a function of the decisions people make.


Bitcoin to Paypal Exchange Against Terms of Acceptable Use Policy / 

Since September, an increasing number of bitcoin startups and exchange have begun offering bitcoin-to-paypal payment processing services, allowing users to send bitcoin to international paypal accounts with substantially low transaction and conversion fees.

Exchanges such as Bitwala, leading European bitcoin payment company have introduced secure and quick bitcoin-to-paypal transfer service, with service fees ranging from 0.5% to 4%.

“For only 0.5% fee we transfer Bitcoin to PayPal accounts you want. You don’t need a bank account or a credit card. Bitcoin makes services like PayPal accessible for anyone worldwide,” announced the Bitwala team.

However, according to the PayPal Acceptable Use Policy updated on July 1, 2015, using bitcoin to transfer or “top-up” Paypal is “illegal,” as it violates one of the terms of the official policy:


Bitcoin Black Friday 2015: Get your bitcoin wallets ready as the cryptocurrency gets in on the retail bonanza / Clara Guibourg / 27 November 2015 11:20am

Get your bitcoin wallets ready: Bitcoin Black Friday is here again.

Because of course, this year’s biggest shopping frenzy is hardly restricted to high street shoppers, and bitcoin spenders will be able to make the most of slashed-price bargains until midnight today.

Over 150 merchants are offering discounts to mark the event, as the sale for bitcoin aficionados hits its fourth iteration.


Ghost Security Group: ISIS Uses Bitcoin To Fund Operations /  November 27, 2015 5:23 AM UTC

Islamic State of Iraq and the Levant (ISIL) or Daesh or ISIS has claimed the responsibility of the recent terrorist attack on Paris that took lives of 129 people reportedly. The dreadful attacks have once again put a question mark on the potential of bitcoin and other digital currencies to be used for terrorism financing.

Fox News reported that a group of computer “hactivists”, going by the name Ghost Security Group, says it has located several bitcoin accounts used by ISIS to fund operations. A GhostSec member told Michael S. Smith II, co-founder of Kronos Advisory, a national security advisory firm, that one account contained $3 million worth of bitcoin. One member also said that the terrorist group’s digital currency amounts somewhere between 1% and 3% of its total income– between $4.7 million and $15.6 million.

However, the Treasury Department estimates that ISIS generates between $468 million and $520 million annually, largely by robbery, extortion, oil sales, ransom payments and overseas donations.


The Netherlands’ ‘best department store’ now accepts bitcoin / Luke Parker / 27 November 2015

Just last year, was voted the best online store in the Home, Hobby and Gift category in the ThuisWinkelAwards, a dutch competion for retailers with annual sales of more than €4 million.

“ is contemporary online department store with more than 50,000 colorful and special products that make life just a little more fun.”


In September, the online retailer won the department store category of the ABN AMRO sponsored Webshop Awards. More than 296,000 consumers rated over 400 online stores across 30 categories. Participants were asked to consider value for money, prices, discounts, assortment, delivery and customer service.

While is the first site in the group to accept bitcoin as a payment option, the site is a relatively small part of a much larger business.

FonQ operates four online stores, in the Netherlands, in Belgium, in France, and in Germany. Customers can also buy fonQ products across europe, through local Amazon websites.

In winning the Webshop Award, the site beat, Hema, IKEA and Wehkamp. The later is owned by the same parent company, RFS Holland Holding (RFS).

RFS is the second largest Dutch e-commerce company, with three major online subsidiaries, all headquartered in the Netherlands; Wehkamp, fonQ, and Create2fit.

The Twinkle100, which lists the largest online retailers in the Netherlands, ranks RFS as the second largest online retailers in the country this year.

Ahold, which operates, the number one online retailer in the Netherlands, tops the chart with €910m in revenue. Amazon and eBay are minor players in the Dutch e-commerce market and did not make the list.


Coinerz: Purchase Altcoins And Bitcoin With Ease / Jamie Redman / 2015/11/27 8:00 AM

A new way to purchase Bitcoin and altcoins is coming to the UK market — and it’s called Coinerz. The platform allows anyone from the United Kingdom to use their credit card to buy various kinds of cryptocurrency. A list of digital currencies the creators say will keep growing. Bitcoinist got together with James Malach, CTO of the team, and chatted with him about the project. Malach has over 20 years of experience in the field of online technology as well as being part of management teams that have raised 20m in venture funding. The entrepreneur gives us a little preview of what’s to come on November 30th and some background about the business.  

Also read: U.S. Officials Warn Against Cannabis and Bitcoin Investment

“We want to make digital currency accessible to everyone. If you go on holiday, you exchange your money at a bureau de change, you don’t tend to play the currency markets, so why should digital currency be any different?”James Malach CTO, Coinerz


21 Bitcoin Computer – the Macintosh of Bitcoin / Piotr Piasecki  / 27 November 2015 

Since guessing the business model of 21 Inc seems to have been everyone’s favourite activity over the past six months, let’s not waste any more time and dig right in.

First of all, we’ve got some photos of the actual machine. The packaging looks good, the mining component of the device looks sleek and elegant, while the actual computer is a standardRaspberry Pi 2, according to the FAQ.

The 21 Computer’s mining chip spec appears to be 0.16 Joules per Gigahash,50 Gigahashes per second. At the moment there doesn’t appear to be any upgrade / swap options for the machine.

This seems to put it in the same category as the Antminer U3 Batch 2 – currently selling for $20 and clocking in at 63GH/s. Comparing it to existing solutions, the energy efficiency seems rather odd. It appears to be roughly 6250 MHash/J, while the top performing AntMiner S7 comes in around 4000 MHash/J. This would seem to suggest the chip is underclocked to be more efficient.

The value of the whole package come in a little under US$100, with the Rapsberry Pi 2 along with all the extras selling for about $70 at the moment. But, the hardware isn’t everything, so let’s look at what else we get with the 21 Computer.


Bitcoin Black Friday Is Back! / Marco E. G. Maltese / 2015-11-26 06:37 PM

On Friday November 27th the Bitcoin Black Friday website will open its doors again with offers from several merchants. Bitcoin spenders will be able to buy goods at rock bottom prices for 24 hours only.

BitcoinCT r:  6 Black Friday, founded in 2012 by Jon Holmquist, is going to open in a few hours from now, hosting a number of merchants that adhere to the initiative. The website traditionally only remains open for one day. As from previous years, Bitcoin supporters are expected to take advantage of the offers, as well as spread the word about it for the good of Bitcoin reputation.

This year the list of merchants includes over 150 names, notable between them we can find REEDS Jewelers, a large chain of jewelers shops offering discounts on their products; Nestorgames, seller of board games of all shapes and sizes; Bitsoap with its particular soap molded in the shape of a Bitcoin (or what they think a Bitcoin looks like!); Mixedtees, with a range of T-shirts, hoodies and more; Namecheap, will offer discounts for its services such as domain name registration and web hosting.

The full list of sellers, deals and discounts will be published on the 27th at the opening of the website.

We’ve asked Jon, the founder, some questions about the site history and Bitcoin: