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Open Sourced Healthcare Will Destroy The Current Corrupt Medical System

The Daily Decrypt, Published on Jan 29, 2016

The Daily Decrypt team found the Surgery Center of OK in 2014 when they set out to find healthcare that: A) Had an upfront price tag, and B) Was available for Bitcoin. Dr. Keith Smith and team met both qualifications, and proceeded to exceed expectations in every way — learn why and how their business model is growing.

Crypto ‘Mining Pool’ Basics & How to Avoid the Skullduggery

The Daily Decrypt, Published on Feb 5, 2016

Why would you join a cryptocurrency mining pool — that is, purchase a mining contract? And how can you parse the legitimate operations from the scams? Charlie of CryptoCompare offers up advice based on his own navigation of the exciting seas of the mining pool.

Bitcoin Price Watch; $390 in Focus / 

Here’s today’s approach to the bitcoin price market from an intraday perspective.

Yet again, we’ve had a pretty eventful weekend in the bitcoin space. A host of fundamental developments towards the end of last week ended a period of relative quiet (at least from a volatility perspective) and translated to some piqued interest across the Saturday and Sunday sessions. Asian trading dominated the action, as illustrated by yuan trading volume, and the timing of the sharp moves, but as Europe took over this morning, the momentum continued, and it looks like we are going to have a busy week. It’s speculative, but it will be interesting to see if last night’s Super Bowl in the US will impact US volume today. There have been numerous occasions on which events such as this one have weighed on volume across the subsequent session in the more traditional financial asset markets, and today we get an opportunity to see whether the same phenomenon applies to digital currency. Interestingly, and as a bit of a side note, there is also another phenomenon that links the Super Bowl and the equities markets – well worth a read for those interested in that sort of thing.


Bitcoin a thing of the past? Nope! / Henry Wade / 09:26 PM February 8th, 2016

To some it’s the mysterious currency that only exists on the Internet, to others it was a financial experiment that didn’t really take off; however, to those in the know, Bitcoin is a glimpse into the future of currencies around the world.

For the naysayers that can’t see past the current system of government controlled currencies, Bitcoin was nothing more than a fad that didn’t catch on with the masses. In some respects this has been true.

Due to the complex nature of Bitcoins’ creation, existence and production, the general public (especially those that aren’t tech savvy) has overlooked it as a viable payment method through a combination of ignorance and fear.

Resurgence of Bitcoin

However, things appear to be changing. Thanks to a myriad of factors, not least the dissemination of information that’s accessible to the layman, Bitcoin is now enjoying a resurgence.

Of course, those in the industry will assert that it never went away, but there’s no doubt that in the last 12 months the cryptocurrency reached new heights as the price of the Bitcoin hit $400 in November 2015.


Bitcoin: A 21st Century Currency Explained By a Wall Street Veteran / Jason Leibowitz / February 7, 2016 at 19:30 GMT

Jason Leibowitz is a former Wall Street professional who pivoted careers in 2014 to focus full-time on digital currency.

In this paper, Leibowitz answers questions about how bitcoin was created, how it works and why it matters.

It has been described as a “techno tour de force” by Microsoft founder Bill Gates, and as a “remarkable cryptographic achievement…that has enormous value” by Google CEO, Eric Schmidt. It was even predicted by Nobel Prize-winning economist Milton Friedman in 1999 when he said, “The one thing that’s missing, but will soon be developed, is a reliable e-cash.”

Friedman was a visionary, and in this instance he was a decade ahead of the rest, foreseeing the advent of digital currency, and more specifically, bitcoin.

Bitcoin’s rise to prominence is causing a global rethink of the concept of money. For thousands of years, gold was the currency of the land, and many of gold’s qualities have allowed it to stand the test of time. As civilization developed and industrialized, ruling bodies learned that printing a government’s own currency, called fiat, was a more convenient and easier method of distributing wealth in society.

However, government-backed money has not stood the test of time; the average life of fiat currency is only 27 years. History is littered with examples of the failure of money, such as the Mark in post-WWI Weimar Germany and the Greek drachma in 1944.

Fast forward to the 21st century, where there are more mobile phones than there are people on earth, and perhaps it makes sense for a more global form of money to exist. Bitcoin is exactly that: a universal, internet currency that can work on any computer or mobile phone.

It is the result of decades of work in computer technology by nearly anonymous researchers, as it elegantly solves a longstanding problem in computer science. Bitcoin allows for trust between two unrelated parties over an untrustworthy network like the Internet.

With just a mobile phone any two parties can now transact without a central authority, company or bank mediating the transaction and in such a way that is safe and secure, publicly known, and uncontestable.


Global Economic Outlook: Gold Rally, Bitcoin Down / Venzen Khaosan / 08/02/2016

Market turmoil has intensified in February, and many analysts are predicting that the Fed may make a U-turn on their rates hike decision. In the flight to safety, Gold has extended its rally while Bitcoin looks to be going to ground. This week’s edition of Global Economic Outlook looks at the gold, bitcoin and US dollar charts.

This post is powered by the Bitcoin Trading Network – CCN29 and get 29USD off!

Economic Indicators

World Indexes


Bitcoin Price Technical Analysis for 08/02/2016 – Bearish Continuation Signal? / 

Bitcoin price could test the top of the triangle, which might hold as resistance since it coincides with the 100 SMA and is coming off a strong downtrend.

Bitcoin Price Key Highlights

  • Bitcoin price has been consolidating on the 4-hour time frame, moving inside a symmetrical triangle pattern with its higher lows and lower highs.
  • Bitcoin is coming off a strong downtrend, indicating that there may be some downside momentum left once bears are finished taking a break.
  • Price is testing the bottom of the triangle consolidation pattern right now so a quick bounce to the top might be possible.

Bitcoin price could test the top of the triangle, which might hold as resistance since it coincides with the 100 SMA and is coming off a strong downtrend.


Bitcoin Group delays public listing on Australian Stock Exchange / Paul Farrell / 8 February 2016

Digital currency ‘miner’ has another setback, telling investors ASX has requested additional information

The Bitcoin Group has delayed its public listing on the Australian Stock Exchange in order to provide further information about the currency to the exchange.

The company has been seeking to become the second listed bitcoin entity in Australia. But the crypto currency operators have faced a series of setbacks andhave now reportedly had six delays to the listing.

Bitcoin is a form of digital currency that involves complex computer processing in order to generate more currency, in a processing known as “mining”. The Bitcoin Group is a company, founded by the Australian Sam Lee, as well as Ryan Xu and Allan Guo, that mines bitcoin and provides services to investors who are interested in the currency.


Plutus combines Bitcoin and Ethereum to push contactless payments / Ian Allison / 

Bitcoin payments app Plutus provides tap and pay at contactless payment terminals, including Transport for London, using Ethereum smart contracts and a decentralised rewards system.

Danial Daychopan, CEO, told IBTimes: “Anywhere you find an NFC-enabled terminal, you will be able to pay using bitcoin. We are primarily targeting contactless payments for convenient daily purchases. Our main innovation is that we are able to do this without running or connecting to a centralized exchange ourselves, as our platform is fuelled by peer-to-peer trading and decentralized smart contracts running on the Ethereum blockchain.”

All bitcoin deposits are made prior to the point of sale to avoid the waiting time required for confirmations. A deposit is converted to a virtual debit card on the app, registered on the exchange platform (PlutusDEX). Making deposits prior to the point of sale is a necessary tradeoff, said Daychopan, who is looking for ways drive users to digital currencies, including syncing up charitable donations using the app.

The app’s tokens, Plutons, are awarded as a rebate for bitcoin conversions, which can go towards the next purchase like cash back or air miles on an old fashioned credit card.


Shackling Bitcoin Not the Answer with EU Proposal to Curb Terrorism Financing / Joseph Bradley / 08/02/2016

As part of a larger exploration of non-obvious funding methods for terrorist organizations, the EU has proposed new legislation to enforce background checks on Bitcoin users. News sources have picked it up. One may ask, to what end?

Let’s explore.

FACT: What people do not understand typically scares them.

FACT: Few people understand the intricacies of how cryptos work and why the usage patterns are what they are.

FACT: Government administrators are people that are scared of things too. Only they have the power to take unrealistic fears and turn them into bizarre witch hunts and, in the worst case scenario, illogical legislation.

Yes, I know Ross Ulbricht, blah blah blah. Certainly some nefarious activity can be connected to cryptos/ digital currency. But I would wager that some nefarious activity can be connected to many things. Let us keep in mind, the U.S. Treasury Department launched a formal inquiry into whether or not the Toyota Motor Corp. was supplying ISIS with trucks. Let us understand this thought process. 1) We see many ISIS fighters using Toyota trucks. 2) Toyota must know how they are being acquired (or must be selling the trucks to ISIS). I will readily admit that I would not put it past any multinational corporation to engage in semi-legal profit grabs (we see this in finance consistently in the U.S.) but this does seem a littlefar fetched.


Bitcoin Node Owners Do Not Need Incentives / JP Buntinx / February 8, 2016

The Bitcoin network is only as strong as the number of miners and nodes supporting the protocol. At this time, there is no shortage of mining power pointed at the Bitcoin network, but the number of nodes remains fairly low in comparison. Some people feel more nodes would be active on the network if there were some reward for doing so. But isn’t being part of Bitcoin itself the biggest reward one can get for running a Bitcoin Node?

Also read: Platform Issues Continue

Bitcoin Node Incentives Is A Touchy Subject

In the perfect world, Bitcoin nodes could end up receiving a reward similar to the small amounts of funds collected by Bitcoin miners for adding transactions to the next block on the network. However, the technology was never designed to operate in that regard, as running a network node is entirely voluntary and not subject to incentives.

Certain people might feel this form of distributing the transaction fees is not fair, as Bitcoin nodes are an integral part of the ecosystem. Without nodes to broadcast transactions and keep copies of the blockchain synchronized with the network at all times, the entire Bitcoin ecosystem would be far less secure than it is right now.


Let’s Talk Bitcoin! #281 – Control it with Bitcoin

Published on February 6th, 2016 by  Adam B. Levine

Bitcoin Group delays float sixth time after falling short / Shaun Drummond / Feb 8 2016 at 6:00 PM

Bitcoin miner Bitcoin Group has put off its float again after it fell well short of its raising target of $20 million.

The company, which was to be the second bitcoin company to list on the ASX, told investors on Friday it was “pleased” it had raised $5.9 million under the IPO, but it had decided to postpone its planned Monday listing while it met requests for further information from the ASX on the company and the blockchain it “mines” for bitcoins.

“Investors will appreciate that ‘block chain’ is a new technology and we are working with ASX to satisfy its request for additional information as part of the listing application process,” it said.

The company has delayed its IPO six times following numerous orders from the Australian Securities and Investments Commission to improve disclosures in its prospectus.

Its first prospectus, lodged with ASIC on June 29, envisaged a listing date of September 2, but the regulator put a stop order on the IPO on July 13. A second prospectus was written with a lodgement date of July 31 and a listing date of October 2. But ASIC issued a second stop order before it was officially lodged.


Paying Phone And Internet Bills In Russia Using Bitcoin Amid Rising Legal Issues / February 8, 2016 9:29 AM UTC

While recent reports suggests that using bitcoins in Russia might be considered as a criminal activity, some popular mobile operators in the country Tele2, Megafon, Beeline and MTS are accepting the digital currency through services such as and Cryptonator.

According to a report from CoinTelegraph, has been operating for three years and offers its customers both a Bitcoin exchange and a service to pay internet and mobile phone bills. It doesn’t hold customers’ Bitcoins, thereby providing additional security. The company claims to have earned the trust of 3416 people from the CIS countries, according to the website. also enables people to view all processed operation statistics on the site, offering extra transparency. Moreover, it is quite simple to use as users are not required to go through registration procedures.


Bitcoin in the Words of Intesa Sanpaolo’s Ferdinando Ametrano / Gautham / 2:00 pm February 7, 2016

Ferdinando Ametrano in an interview had offered his insight into the future of Bitcoin and blockchain technology’s role in fintech.

The history of monetary system is built on gold. This valuable element has been playing a very important role in the economy since the beginning of time. The first documented usage of gold coins as currency dates back to 600 BC. Gold continued to be the basis of monetary systems until the Bretton Woods System paved way for nominally convertible currencies. Today, none of the world’s currency systems are backed by gold. However, gold by itself continues to hold a fair amount of value. In today’s digital world, we have something which is better than the yellow metal in many ways and it is called Bitcoin.

Bitcoin is a decentralized digital currency based on a cryptographic protocol. Bitcoin maintains a similarity with gold and money while keeping middlemen as designated trusted third parties away. Bitcoin miners, powering the network enabling transactions across the network act as trusted parties.

In an interview, the head of blockchain and virtual currencies strategies at Intesa Sanpaolo – Ferdinando Ametrano offered his insight about bitcoin and its potential to change the economic system. He also forecasted that Bitcoin is the digital gold which is going to end the reign of fiat currency. The interview was published in one of the leading Italian publication – Il Sole 24 Ore (The Sun – 24 Hours).


Peanuts Is Sort Of A Recurring Billing Tool For Bitcoin / JP Buntinx / February 7, 2016

Recurring payments have not been explored much in the world of Bitcoin and digital currency, even though the concept could lead to major adoption down the line. Peanuts is a new tool that lets website owners generate recurring billing codes for Bitcoin payments while offering a fair bit of customization as well. Whether or not this tool will be implemented on a multitude of websites, remains to be seen, but at least, the option to do so is readily available.

Also read: New Bitcoin Doubler Is An Obvious HYIP Ponzi

Peanuts Creates Recurring Billing Buttons

Whenever somebody signs up for a membership, they will have different payment cycle options to choose from. Either they pay for a period upfront, or they can opt for recurring billing, which will debit funds from their payment method at regular intervals. Especially for credit and debit cards, the latter seems to be a preferred option for consumers all over the world.

READ MORE Ushers In New Phase In Bitcoin Mining; Guarantees 99.9% Up Time / February 8, 2016 11:01 AM UTC, a bitcoin mining platform launched last November, has announced that it guarantees 99.9% up time, user-friendly interface, a generous referral program and much more. The company with its new and innovative developments is leading a new phase in Bitcoin mining, where it is selling hashrate to mine Bitcoin without any need for hardware to do so.

The company claims to have gained nearly 5000 users within just few months of its launch. The platform, registered in England and Wales, has integrated latest developments and trends to ensure the availability of a wide range of features to its users.


A Real Live Example for Bitcoin Trading for You to Copy / STEVEN HEY / 

A few weeks ago we talked about the basics of Bitcoin trading and gave a very thorough overview on the subject. We talked about how you can use Bitcoin CFD trading from companies like Plus500 or Fortrade in order to trade Bitcoins without actually owning the currency. Today I want to give a real live example of an actual trade we put together.

Putting it all Together – An Example Trade

This is not a specific trading recommendation but an illustrative example only.


The objective here is to find a promising medium-term trade to take best advantage of our CFD trading method. We will be using the methods described above.

Market Overview for the 26th January 2016

Medium-term opportunities are most easily found on higher timeframe charts. A daily chart suggests a possible triangle pattern forming as of the 26th of January, 2016.

Zooming in, a 4 hour timeframe better reveals the pattern structure, as well as other notable market features:


FinTech Startup PocoPay Mixes Bitcoin Elements With Legacy System / 

Several companies in the FinTech sector are looking to bring financial services to mobile users, and some of them even take a page out of Bitcoin’s book to achieve that goal. Pocopay is a mobile financial services provider targeting the European market, although the company is not like how your typical bank would be. By using QR codes and debit cards, Pocopay is not that different from the Bitcoin ecosystem on paper. However, the startup still relies on the legacy system, which could be its downfall in the long run.  

Also read: Gavin Andresen Requests Feedback for His Version of BIP-102

Pocopay Brings Banking To Mobile Users in Europe

The financial world as we know it today will be undergoing several evolutionary steps in the years to come. Established financial players are struggling to bring any form of innovation to this industry, and the competition is heating up. Bitcoin, FinTech, and other financial startups are all looking to take the crown from banks in the near future.

However, one thing most FinTech and other financial startups have in common is how they are not showing a high level of innovation either. Granted, a lot of these companies are looking into providing financial services without requiring users to own a bank account. Pocopay is one of those startups who aims to provide financial services but is a far cry from a fully licensed bank.

The business model for Pocopay is very straightforward: do not deal with deposits, and offer no loans to customers. In doing so, the startup is vastly different from banks as we know them, albeit the mobile service provider offers some interesting features. For example, customers will get access to a bank account and an NFC-enabled MasterCard debit card, in exchange for a flat fee of EUR 2,99 per month.


New Bitcoin Doubler Is An Obvious HYIP Ponzi / JP Buntinx / February 7, 2016

For some reason, there are still plenty of digital currency owners who invest in obvious scams. Whenever a new service launches that claims to double your money in a very short amount of time, it is clear for everyone to see this type of Ponzi scheme will run out of money sooner rather than later. The latest Bitcoin Ponzi scheme to pop up is nothing more than a random thread on the Bitcointalk forums.

Also read: LoanBase Users Lose 8 Bitcoin Due To Data Breach

Instant Bitcoin Doubler Ponzi

It goes without saying that every Bitcoin owner would like nothing more than to double their money in the blink of an eye. After all, greed is a part of human nature, and whenever finances are involved, people’s eyes will turn into dollar signs rather quickly. At the same time, there are Internet criminals looking to take advantage of people’s greed, by offering HYIPservices that will not run for all that long.


Bitcoin Exchange Gemini Introduces Multi-User Accounts / February 8, 2016 7:14 AM UTC

Gemini, a New York-based bitcoin exchange led by Winklevoss brothers, introduced last week multi-user accounts (i.e., sub accounts of one master account) and performance upgrades.

Multi-User / Sub Accounts

This feature will allow multiple people within an organization to register for Gemini and share access to the same trading account. Administrators will be able to grant each user a different access level depending on their role in the organization.

To get started, users need to access the User Management page, or click User Management from the settings menu in the upper right corner of the Gemini dashboard.

From there, they can invite new users to their account and assign each one an access level. The currently available access levels include: