Crypto-Currencies Will Destroy The Criminal Bankster's Monopoly On Money
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Here’s a look at what we are focusing on in the bitcoin price this morning.
Right then. Friday morning, a day left of the business week, and what a week we’ve had in the bitcoin price. There’s been so much volatility that the action has eclipsed that which we saw last week (and comparatively, last week was a lot more volatile than the week before) and we’ve had numerous opportunities to get in and out of the markets according to the rules of our intraday strategy. Boy did we take them. We’re heading into the close of the week sitting on a nice profit, and we’d like to close out with a little bit more. If action doesn’t allow it, no problem. We’re not going to miss out on an opportunity though, so if price gives us something to go at, we’re going to take it.
So, with this in mind, and as we head into today’s session, here’s a look at where we are focusing, and which levels we are aiming to get in and out of the markets via for the European morning and early afternoon.
As ever, take a quick look at the chart below to get an idea of what’s on.
The Philippines is a home to some of the industry’s most innovative startups including Coins.ph and Rebit.ph, that enable cost-efficient remittances from their home country to international recipients. At Bootstrap Manila, Bitcoin startups & investors revealed that 20 percent of remittances from the Philippines to South Korea are processed using Bitcoin.
Coins.ph recently secured a $ 5 mln investment from former Google CEO Eric Schmidt’s fund, due to their unique approach that instead of competing with banks and existing financial services, it would be more beneficial for its users to collaborate with them to offer borderless and frictionless remittance services.
As a result, users can send payments using Bitcoin to anywhere in the country, through mainstream remittance and financial services such as bank ATMs, Over-the-Counter payments and remittance outlet deposits.
A depreciating Chinese currency has boosted demand for the cryptocurrency bitcoin as investors sought protection from the falling yuan.
Bitcoin rose almost nine percent through the week and was trading at $688.40 as of 14:17 GMT on Friday. That’s the biggest gain since June when its value rose with the UK’s vote to leave the European Union. Investors turned to the digital currency as a safe haven from the British pound.
Zcash (ZEC), the new digital currency lauded for its privacy features, is launching today amidst some massive hype. But until enough tokens become available on exchanges, Zcash enthusiasts are poised to acquire their ZEC first-hand by mining for it, either by setting up a home rig or by signing up for a cloud mining contract.
Created from a fork in the Bitcoin chain, Zcash promises all the best features and stability of Bitcoin with the added bonus of total payment confidentiality. Zcash transactions automatically hide the sender, recipient and value of all transactions on the blockchain. Only those with the correct view key can see the contents.
Another interesting aspect of Zcash is it uses a memory-hard proof-of-work known as Equihash. This means the best hardware for mining Zcash tokens is standard GPUs and RAM. The hope is this will lead to a more decentralized set of miners.
The DAO hacker is one step closer to turning a real-world profit.
The saga that started in June with a high-profile hack on ethereum’s most notable project, took another turn on Wednesday when nearly $100,000 worth of digital currency associated with the incident was converted into bitcoin.
Given the impact of the hack on the ethereum ecosystem (it sparked weeks of debate and led to a schism among the technology’s supporters), the whereabouts of the funds have long been a matter of public interest. Funds first began moving in August and were reported to be in transit again in September.
In a first, the operator of Switzerland’s national railway service will start selling bitcoin on its ticket machines.
Schweizerische Bundesbahnenor the SBB, Siwtizerland’s natoinal rwailways operator, will allow customers to trade Swiss francs for bitcoin using its ticket kiosks. Unveiled on its website, the service will enable cryptocurrency adopters or first-time users to buy bitcoin between 20 CHF to 500 CHF. That’s approximately between $20-$503 USD, per transaction.
Customers will be need to have a mobile wallet and a Swiss phone number, the requirements read, with an accompanying guide on SBB’s website to help first-time users choose a bitcoin wallet. The benefits, as listed by the railways operator, points to bitcoin as a currency that can be used worldwide, with “very low” transaction fees and an increasing rate of acceptance of the cryptocurrency around the world (the website lists the number as 10,000 locations worldwide).
Stash, Inc., a software start-up providing turnkey financial cryptographic solutions, has announced the release of Stash Node Pro, which is an Open-Transactions based plug-and-play hardware unit that combines bitcoin full node with Open-Transactions.
According to the official release, the Stash Node Pro also combines a variety of cryptographic financial instruments in order to bring users a complete financial cryptographic library. Open-Transactions is a financial system based on cryptographic proofs that enable cost advantages by eliminating server-side theft and fraud.
counselheal.com / DEBALEEN SENGUPTA / Oct 28, 2016
Yevgeniy Aleksandrovich Nikulin is a 29 year old hacker hailing from Moscow, Russia, who has been arrested for a major BitCoin heist. Nikulin, who was arrested by Czech authorities at the beginning of this month has been tied to a series of hackings that took place at LinkedIn and DropBox.
Nikulin is rumored to be extradited to the USA where he could be charged with numerous crimes, including nine counts of hacking, ID theft and conspiracy against MNCs. The man was earlier able to hack into LinkedIn and DropBox after ID theft of its employees. Nikulin has been described as a successful entrepreneur and a possessor of numerous luxury cars, has taken onto bitcoin heists for profits.
Earlier, Nikulin and his fellow conspirators attempted to sell the FormSpring accounts for as less as $6000. Nikulin, also is rumored to be involved in the 2013 attack on the BitCoin exchange BitMarket.eu. As a result Nikulin forced shutdown of the BitMarket exchange by inflicting damages upon its own servers and a trading platform known as BitCoinica.
Were you one of those who experienced problems with getting confirmations on your Bitcoin transactions? Well, it was a general issue, at least recently when Blockchain had almost 50,000 unconfirmed transactions and the number is receding.
The rush of complaints about transaction confirmations taking longer than usual comes at a time when the price of Bitcoin is edging closer to the $ 700 mark. As at the time of this publication, the price of the top digital currency stands at $ 687 and that’s about a 5 percent increase since the beginning of the week from $ 656 on Sunday Oct. 23. When these two coincide, there are bound to be speculations that they are, in a way, related.
crowdfundinsider.com / JD Alois / October 28, 2016
Wefunder, the Reg CF platform that has now crowdfunded over $8.4 million since May of this year dominating the sector, has now added a new feature. Wefunder now accepts Bitcoin transactions making it even easier to invest in early stage companies. Bitcoin is generally thought of as a highly secure and efficient method of transferring value. In many ways it is better than using a credit card.
“We worked pretty hard to figure out how to offer Bitcoin as a way to purchase securities in a Regulation Crowdfunding legally. It’s a popular request among some of our more tech-savvy early adopter investors, especially as no bank is (yet) willing to enable credit cards for Reg CF.”
The CME Group is launching two previously announced bitcoin price indexes next month.
The exchange services operator said in a notice this week that its CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index will launch on 13th November. The CME CF Bitcoin Reference Rate, according to the firm, will provide price settlement updates after 15:00 UTC each day.
Today is the day on which Zcash will officially launch. This new cryptocurrency has been getting a lot of attention from Bitcoin enthusiasts in recent weeks. With a strong focus on anonymity, this currency could become an interesting contender for established altcoins. But in Italy, the launch of Zcash is greeted with a new bill to ban fully anonymous cryptocurrencies.
Italy, along with a lot of other countries around the world, is not overly keen on cryptocurrency. While they allow Bitcoin usage without specific regulation, they will scrutinize other currencies which could gain mainstream traction. ZCash, while not even released to the public, is already causing a fair bit of controversy. So much even that fourteen Italian MPs decided to sign a new bill banning anonymous cryptocurrencies in the country.
ftalphaville.ft.com / Izabella Kaminska / Oct 28 12:35
Remember the days when bitcoin was all about reclaiming control of your financial capital? A way of ensuring none of those pesky middlemen and brokers could get up to shenanigans with your money behind your back? The days when rehypothecation or re-lending of your primary balances was deemed a devious conspiracy of “fractional reserve bankers” that bitcoin would nip in the bud once and for all? And, let’s not forget, the days when even gold wasn’t considered secure enough because ‘banks and central banks short gold behind your back driving the price down against your interests!’?
Well, look what just landed in our inbox (our emphasis):
Leading bitcoin asset manager, Global Advisors (Jersey) Limited has announced new custodians and extended trading powers for its flagship fund, Global Advisors Bitcoin Investment Fund PLC (“GABI”), that are detailed in the new prospectus, just released. Co-founder and CIO, Daniel Masters says that the new developments pave the way for the GABI to list on the Channel Island Securities Exchange, which is anticipated to occur this November.
The bitcoin custodians for the fund are Gemini Trust Company, LLC and itBit, both US-domiciled New York State-charted limited purpose trust companies that are regulated bitcoin custodians. In addition to meeting the capitalization, reserve, compliance, consumer protection and cyber-security requirements of the New York State Department of Financial Services, the custodians will provide secured IT storage systems and cold storage vault systems for GABI’s bitcoin holdings. The use of dual custodians adds further de-risking in the storage of the fund’s investments.
The contentious hard forking of Ethereum is often wheeled out by members of the Bitcoin community as a cautionary tale. However, there’s a contingent within Bitcoin that thinks the Ethereum fork was not a disaster at all, a fact validated by the marketplace in cryptocurrency.
The implication is a hard fork of Bitcoin would not be the disaster many say it would, and that in any case the market should decide what’s right.
Long-time Bitcoin evangelist and angel investor Roger Ver said: “People say, look at Ethereum; look at the disaster that happened there. But myself, and most of the big blockers, don’t see there’s any problem at all.
Bitcurex, a Polish bitcoin exchange, posted a notice on its website that it lost part of its assets on October 13 as a result of “external interference in automated data collection and processing of information.” The exchange service has been taken offline.
The notice indicated service is expected to resume on November 30, 2016, but the message has caused some to question how much the company knows about what happened and how committed it is to reimbursing users for losses.
The company’s management, Digital Future Sp., on October 17 filed a report with the prosecutor’s office in Lodz for criminal prosecution, the message noted. The company made a recapitalization agreement with an investor in order to resume the service and allow users to return funds.
The website owner needed up to seven days from the receipt of the form to verify the information.
The notice included a form for customers to cancel Bitcurex service.
A Florida ex-school board member has pled guilty to making a false statement in relation to the running of an illegal bitcoin exchange.
The FBI says Anthony Murgio and Yuri Lebedev ran Coin.mx as an unlicensed currency exchange, cloaking transactions including facilitating ransomware payouts as “collectable memorabilia” and dubbing the business the “Collectables Club.”
Coin.mx was owned by Israeli Gery Shalon, a man linked to a huge hacking operation that compromised the likes of JPMorgan Chase along with the personal data of more than 100 million people.
Blockchain Intelligence Group (“BIG”) Presents “Investigating the Blockchain” at the Cognizant Hosted Blockchain, Cryptocurrency and AML Event
VANCOUVER, BC – October 26, 2016 – Blockchain Intelligence Group (“BIG”) today announces that it had been invited to present at the Blockchain, Cryptocurrency and AML conference hosted by Cognizant on August 25, 2016 . The theme of the event was on the use of Bitcoin and the Blockchain in criminal activities on the dark web, as well as the regulatory requirements for the Fintech sector, specifically; AML, KYC and OFAC. The focus of the discussion pertained to the laws and regulations concerning Bitcoin and the efforts to define and understand the cryptocurrency ecosystem. This new, unique and unfamiliar use of virtual currencies creates a challenging environment for governments, banks, law enforcement and regulators around the world who are unsure how to deal with this payment method.
ibsintelligence.com / Scott Thompson / October 28, 2016
Barclays has suspended the account of cryptocurrency news outlet Coinjournal for using and being associated with Bitcoin. Speaking to Bitcoin.com, Coinjournal founder Oliver Carding said: “Considering the size of or business…and the amount of money involved, we are surprised that we’ve been considered high risk.” He added that Barclays gave “no warning” of the impending block. “When asked for more information about which rule we’d broken they would not give us explicit information and referred us to their terms and conditions.”
"At any rate, the spook spoke the truth: cryptology represents the future of privacy, and more. By implication cryptology also represents the future of money, and the future of banking and finance. (By "money" I mean the medium of exchange, the institutional mechanisms for making transactions, whether by cash, check, debit card or other electronic transfer.) Given the choice between intersecting with a monetary system that leaves a detailed electronic trail of all one's financial activities, and a parallel system that ensures anonymity and privacy, people will opt for the latter. Moreover, they will demand the latter, because the current monetary system is being turned into the principal instrument of surveillance and control by tyrannical elements in Western governments." - J. Orlin Grabbe