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Bitcoin Price Watch; Here’s What’s On At The Close Of The Week / Samuel Rae / October 28, 2016

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.


Bitcoin introduction to spur growth of digital transactions

Image result for bitcoin accepted here vector / Jessica Ayorkor Aryee / Friday 28th October

Acclaimed computer scientist Prof Nii Narku Quaynor has told Citi Business News the introduction of Bitcoin in Ghana will help spur the growth of a cashless society in Ghana.

Bitcoin was introduced in Ghana in February 2016 as part of measures to enhance and promote a cashless society.

Bitcoin, a type of digital currency is used to pay for things without a third-party broker, like a bank or government.

It also helps in transacting money through the internet at a simple and fast rate.


Bitcoin Powers 20 Percent of Remittances From Korea to Philippines / Joseph Young / 2016-10-28

The Philippines is a home to some of the industry’s most innovative startups including and, 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. 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.


Bitcoin set for best week since June on strong Chinese demand / 28 Oct, 2016

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 Has Launched: Here’s How to Get Some

Image result for Zcash / Amy Castor / Oct 28, 2016 

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 Plot Thickens As DAO Attacker Trades Stolen Funds for Bitcoin / Alyssa Hertig / October 27, 2016

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.


Switzerland’s National Railways Operator Will Sell Bitcoin / Samburaj Das / 28/10/2016

In a first, the operator of Switzerland’s national railway service will start selling bitcoin on its ticket machines.

Schweizerische Bundesbahnen or 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).


Bitcoin Price Technical Analysis for 10/28/2016 – Steeper Climb in Play / Sarah Jenn / October 28, 2016

Bitcoin price is enjoying stronger bullish pressure that’s pushing it up on a much steeper climb lately.

Bitcoin Price Key Highlights

  • Bitcoin price has been making one upside breakout after another, indicating the presence of strong bullish momentum.
  • A steeper rising trend line can be drawn to connect the latest lows of price action on the 1-hour time frame.
  • Price could be in for a shallow pullback to this rising trend line or a larger correction to the nearby area of interest.

Bitcoin price is enjoying stronger bullish pressure that’s pushing it up on a much steeper climb lately.


Stash introduces Stash Node Pro to bitcoin device market / October 28, 2016

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.


LinkedIn and DropBox Hacker Linked To Major BitCoin Heist, Report Says / 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 As a result Nikulin forced shutdown of the BitMarket exchange by inflicting damages upon its own servers and a trading platform known as BitCoinica.


Bitcoin Transactions Confirmation Delays / Olusegun Ogundeji / 2016-10-27

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.


Wefunder Now Accepts Bitcoin, Says Deal Pipeline is Very Strong

Image result for bitcoin logo / 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.

Wefunder CEO and co-founder Nick Tommarello told Crowdfund Insider;

“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.”


Derivatives Giant CME Sets Launch Date for Bitcoin Indexes / Stan Higgins / October 27, 2016

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.


Italian MPs Aim To Ban ZCash And Other Anonymous Cryptocurrencies / JP Buntinx / October 28, 2016

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.


The new boss looks awfully like the old boss, bitcoin edition

Image result for bitcoin server / 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.


If Bitcoin hard forked over block size, what would the market decide? / Ian Allison / October 28, 2016

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.


Polish Bitcoin Exchange Bitcurex Goes Offline After Losing Assets; Questions Loom Over Loss of 2300 BTC

bitcurex-image / Elliot Maras / 28/10/2016

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.


Bitcoin exchange boss going down for washing ransomware cash

Image result for bitcoin blockchain / Darren Pauli / 28 Oct 2016

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 as an unlicensed currency exchange, cloaking transactions including facilitating ransomware payouts as “collectable memorabilia” and dubbing the business the “Collectables Club.” 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 / October 27, 2016

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.


Bitcoin users beware of Barclays / Scott Thompson / October 28, 2016

Barclays has suspended the account of cryptocurrency news outlet Coinjournal for using and being associated with Bitcoin. Speaking to, 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.”