The Bitcoin Channel

Crypto-Currencies Will Destroy The Criminal Bankster's Monopoly On Money

Donate Bitcoin

Disclaimer

ALL CONTENT ON 'THE BITCOIN CHANNEL' AS WELL AS THE 'BITCOINCHANNEL' YOUTUBE CHANNEL IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. 'THE BITCOIN CHANNEL' ASSUMES ALL INFORMATION TO BE TRUTHFUL AND RELIABLE; HOWEVER, THE CONTENT ON THIS SITE IS PROVIDED WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED. NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO CRYPTOCURRENCIES, STOCKS, COMMODITIES, OPTIONS, BONDS, FUTURES, OR BULLION. ACTIONS YOU UNDERTAKE AS A CONSEQUENCE OF ANY ANALYSIS, OPINION OR ADVERTISEMENT ON THIS SITE ARE YOUR SOLE RESPONSIBILITY.

Donate Via Paypal

Bitcoin Price Watch; Another Live Trade!

newsbtc.com / 

Here’s what we are looking at in tonight’s bitcoin price, with our targets and risk parameters outlined for this evening’s action.

Let’s kick off this afternoon’s analysis with a chart. The chart below shows the framework we overlaid on the bitcoin price this morning, as well as maintaining the key levels we put in place as our target entry points.

READ MORE

The Real Story Behind the MIT ChainAnchor Project for Bitcoin

bitcoinmagazine.com / Kyle Torpey / May 03, 2016 03:11 PM

ChainAnchor is an MIT project that was brought to the attention of the Bitcoin community in late April by Bitcoin Core contributor Peter Todd. In his blog post, Todd questioned whether this project may have been an attempt to bring Anti Money Laundering (AML) and Know Your Customer (KYC) compliance to Bitcoin.

MIT Connection Science Managing Director David L. Shrier responded to Todd’s blog post directly on Reddit,saying, “ChainAnchor was never intended for [B]itcoin.”

When first asked about why a preliminary version of the ChainAnchor paper discussed Bitcoin, Shrier pointedBitcoin Magazine to another Reddit comment where he said, “[ChainAnchor] was never intended to apply to Bitcoin. In the course of seven subsequent drafts, we have sought to clarify this.”

When then asked why there are explicit references to implementing ChainAnchor as an overlay on top of the Bitcoin blockchain, Shrier told Bitcoin Magazine, “In a very early draft of the project, its focus on permissioned blockchains was not well explained, which is why we clarified.”

Shrier went on to point to the current version of the ChainAnchor paper, which is more explicit about its use in permissioned ledgers (as opposed to permissionless blockchains such as Bitcoin) and dated two days prior to Todd’s blog post; however, the preliminary draft provided by Todd on his blog stated:

READ MORE

Bitcoin expert: It was a mistake to blog about ‘creator’

bbc.com / 4 MAY 2016

A leading figure in the Bitcoin community has expressed regret about a blog backing an Australian’s claim to have invented the crypto-currency.

Craig Wright announced on Monday that he was behind Satoshi Nakamoto – the pseudonym used by Bitcoin’s creator.

The same day, Gavin Andresen, chief scientist at the Bitcoin Foundation, wrote he was “convinced beyond a reasonable doubt” of Dr Wright’s case.

But Mr Andresen said he now thinks it was a “mistake” to have posted.

The expert had written that he had privately witnessed Dr Wright using cryptographic keys that “only Satoshi should possess”.

But critics called Dr Wright’s claim into doubt when it emerged that part of the evidence the entrepreneur presented in public could have been generated using a string of digits linked to a seven-year-old transaction made by Satoshi, accessible via a search engine.

“It was a mistake to agree to publish my post before I saw his – I assumed his post would simply be a signed message anybody could easily verify,” Mr Andresen told security researcher Dan Kaminsky when he challenged the scientist over the matter.

READ MORE

Central banks conspire to harvest Bitcoin’s revolutionary technology

telegraph.co.uk / JEREMY WARNER / 3 MAY 2016 • 7:21PM

For someone who says he shuns the limelight, Craig Wright has chosen an oddly high profile way of laying claim to the title of digital genius behind the Bitcoin phenomenon.

If he wanted to keep his identity secret, did he really need to hire a public relations consultancy to broadcast it to the world, or to provide an elaborate series of “proofs” that he is indeed Satoshi Nakamoto, the pseudonym by which the Bitcoin mastermind has long been known?

And if he really doesn’t care whether people believe him or not, as he claims, why didn’t he simply ignore the speculation, or even deny it and let things rest at that? Mr Wright protests too much. His faux modesty fools no-one, and only lends support to gathering scepticism around his claims.

Yet if Mr Wright is indeed Mr Nakamoto, can anyone blame him for wanting to take a bow?

In itself, Bitcoin is one of those inventions whose public profile is far bigger than its real impact. Since its creation seven years ago, Bitcoin’s value has mushroomed to approaching £5bn, and it has spawned a veritable army of committed followers, for whom belief in its algorithm as an alternative to the fiat currencies of government is tantamount to a religion.

This is no doubt quite an achievement, but as a means of exchange, Bitcoin pales to insignificance compared to even quite minor, national currencies, let alone something as mighty as the dollar, which accounts for $15.5 trillion of annual consumer spending alone.

READ MORE

The Bitcoin Future is Bright

newsbtc.com / 

A review of the exciting ways that Bitcoin will change our financial transactions and how we view money in the future.

What fascinates many people is not what Bitcoin is today. Instead, the future possibilities of Bitcoin are seriously validating the idea of crypto-currencies eventually coming into the mainstream, alongside fiat currencies.

Off the bat, the main advantages of this type of digital currency are easy to identify. It is simple to trace Bitcoins, it can be more easily transferred than paper money since it exists in virtual space, and it cannot be stolen easily, unlike paper money.

If what is believed to be the future of Bitcoin comes to pass, the governments of the world and their associated financial institutions will have no choice but to create, support and circulate crypto-currency, such as Bitcoin, as legal currency alternatives at some point in the future. Here are some of the reasons why many people believe that Bitcoin is the future of money and why this digital currency has such a bright future.

Cut Out the Middleman and Transact Peer-To-Peer

In the future, there will be no need to have a government or central bank to make decisions on currencies. Bitcoin will revolutionize the 21st Century economy and how financial transactions are carried out. Bitcoin is money that is produced by people, to be used by the people and it originates from agreements between the same people. Just as local currencies came to the forefront of finance as the natural next step in the evolution from barter trade, in the future, we can expect to trade in digital money without having to worry about banks, interest rates, the printing or minting process, and any other fees and processes which have become a general part of today’s banking systems.

READ MORE

The Bitcoin Ecosystem’s Communications Deficits

bitcoinmagazine.com / Jim Harper / May 03, 2016 02:47 PM

This is a guest post by Jim Harper and the opinions reflected are those of the author.

If triumphalism drove adoption, Bitcoin use would already be widespread, and its price against other currencies would be stratospheric. But the existence of a genius protocol does not guarantee its success. For Bitcoin to thrive, there must be a great deal of social and economic change. To foster such change, the Bitcoin ecosystem needs better and more mature communications. It’s a deficit that is costing the Bitcoin ecosystem in lost potential each day it persists.

Bitcoin and the blockchain are brilliant and fascinating technologies. But Bitcoin’s social capital needs are manifold. To deliver on its promises of global financial inclusion, user-defined privacy, enhanced liberty and a stable money supply for all the world’s people, the Bitcoin ecosystem needs a larger and more sophisticated community of software and protocol developers, greater assurance against mining centralization, and a thriving community of node operators. The embrace of the financial services community would speed adoption. Bitcoin needs the reality and perception of low volatility; it needs protocols and practices that assure privacy, flourishing marketplaces, a congenial regulatory environment and a positive reputation. (This list of social capital needs is drawn from this author’s 2014 study of impediments to Bitcoin’s success.)

Efforts are going into developing Bitcoin’s social capital. The Open Bitcoin Privacy Project is doing salutary work on the privacy piece. Coin Center is demystifying Bitcoin for regulators. But the dominant theme in Bitcoin-land remains the “block size debate,” which will determine how Bitcoin adds capacity, as it must. Perhaps it helps to frame the debate as politics in a “non-political” money system and governance by competition. Whatever the case, there is an ongoing failure to communicate and persuade.

READ MORE

Not Just Bitcoin: Why The Blockchain Is A Seductive Technology To Many Industries

npr.org / NAOMI LACHANCE / May 4, 20167:01 AM ET

If you’ve ever run a business, whether it’s an ice cream shop or a Fortune 500 company, then you’ve probably kept a ledger. It’s nothing fancy, just a list of transactions. It’s also at the root of a transformative technology that institutions including the U.K. government, major banks and the state of Delaware are looking to leverage: the blockchain.

When Australian businessman Craig Wright claimed this week to be Satoshi Nakamoto, the mysterious creator of bitcoin, he called attention once again to this high-profile cryptocurrency. But more and more financial technology experts agree: It’s the blockchain technology underlying bitcoin that has even greater potential to change how we make transactions online.

Imagine, for a moment, a global, online ledger, or network of ledgers, listing every single transaction in the world. It’s verified immediately by other people using the system, which protects people’s privacy, but is transparent enough to allow for oversight from anyone. No one group regulates it, so it’s neutral and accessible to anyone with a computer. That is the world that visionaries of the blockchain foresee.

READ MORE

21 Inc Unveils Plan to Make Every Computer a Bitcoin Computer

coindesk.com / Jacob Donnelly / May 3, 2016 at 23:41 BST

Balaji Srinivasan, co-founder and CEO of 21 Inc, announced the launch of the 21 software package at the Consensus 2016 blockchain conference, allowing anyone with a computer to receive bitcoin.

Freely available, the software allows any connected device to join the 21 network, enabling connectivity with the 21 Marketplace and providing capabilities that were previously only available to owners of the 21 Bitcoin Computer.

Srinivasan told the audience:

“What we think is that there is going to be a third Web, the Machine Web, where the links are actually payments between machines.”

According to Srinivasan, the World Wide Web is the ‘first web’, consisting of documents connected to one another. The second is the social web, providing connectivity between people directly through technology.

In his presentation, Srinivasan argued for the ability to enable machines to be able to pay other machines, effectively monetizing HTTP.

READ MORE

Bitcoin Price Technical Analysis for 05/04/2016 – Short-Term Symmetrical Triangle

newsbtc.com / 

Bitcoin price is moving inside a symmetrical triangle consolidation pattern and is hovering around the top of the formation.

Bitcoin Price Key Highlights

  • Bitcoin price is back in consolidation after experience a surge in volatility in the past week.
  • Price formed higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame.
  • Price is currently testing the triangle resistance and might be due for a selloff.

Bitcoin price is moving inside a symmetrical triangle consolidation pattern and is hovering around the top of the formation.

Technical Indicators Settings

The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside, confirming that the resistance might hold. In addition, the moving averages line up with the top of the triangle, adding to its strength as a ceiling for bitcoin price rallies.

READ MORE

BitPay’s new Visa card turns Bitcoin into dollars for easy real-world spending

neowin.net / Paul Hill / 04/05/2016

BitPay has announced that it is launching the BitPay Visa Card which will be available to consumers in all 50 US states. The move will give Bitcoin holders the ability to go into any shop and buy products using their Bitcoins.

The card allows for zero-fee top-ups of up to $10,000 per day in spendable funds, additionally, you can receive direct payments to the card from your employer. Withdrawing money from the BitPay Visa Card is simple too, card holders can withdraw up to $3,000 in cash per day from any ATM machine which accepts Visa cards.

READ MORE

Deloitte Uses Facebook, Bitcoin Blockchain to Improve Warranties

cryptocoinsnews.com / 04/05/2016

Deloitte found a way to use blockchain technology to improve product warranties at its recent three-day hackathon. The innovative product warranty demonstrates how blockchain can improve a regular task such as managing a product warranty. A summary of the application has been posted on the Deloitte website.

Consumers have long found product warranties problematic since warranties are easily lost. Being recorded on paper, warranties can also become unreadable over time.

Hackathon Addresses Design

One of the design problems addressed at the hackathon was to provide a service that makes activating, using and changing a product warranty easier, as well as tamper proof and secure.

Deloitte established three design principles in creating a minimal viable product (MVP).
1) On-boarding a user should be easy. Product warranties are necessities that only become important when they are needed. Hence, they tend to be boring. Deloitte wanted the design to be easy to on-board in one step.
2) It should be feasible and ready to implement immediately. To show blockchain’s potential, the design has to solve an immediate problem.
3) Integrating the service at retail should not require changing the existing sales process. There should be no additional infrastructure needed.

READ MORE

This teen made $100,000 in bitcoin and now he’s crowdfunding a VR headset

mashable.com / Kellen Beck / May 4, 2016

His grandma gave him $1,000 when he was 13 years old, and he invested it in bitcoin. A year and a half later, he cashed out, netting $100,000. At 15, he turned that into Botangle, an online tutoring service.

Now that he’s 17, Erik Finman is jumping into the world of virtual reality.

SEE ALSO: We spent a week in virtual reality with HTC Vive, and it was wild

Finman launched his Indiegogo campaign Wednesday to help fund Marvel, a VR headset that works with Android smartphones.

The Marvel

The Marvel isn’t exactly like other VR headsets on the market — the aim isn’t simply to allow users to experience 360 VR content. The Marvel wants to replace your computer.

After plugging in your Android phone, the headset shows you the applications you have open in a semi-circle around you, hovering over whatever background environment you choose to be in, whether it’s a sandy beach or the the surface of the moon. By turning your head left and right, you can look at your different apps, easily changing your focus between full-window web browsers, chats and more. For ease of use, you can hook up a keyboard and mouse via Bluetooth.

READ MORE

The League of Extraordinary Satoshi Nakamoto Identities

newsbtc.com / 

Although this may sound quite appealing to the everyday uneducated Bitcoin enthusiast, the fact it takes Craig Wright several days to present this information is causing even more speculation as to where this “evidence” comes from.

Another day in the ongoing saga of Satoshi Nakamoto and Craig Wright has passed. The latter claims he has extraordinary proof that he invested Bitcoin. But what is David Kleiman/s role in all of this?

Craig Wright Has “Extraordinary Proof”

It will be quite an uphill battle for Craig Wright to prove he is Satoshi Nakamoto, although he does seem to be perturbed by that challenge. In fact, he told mainstream media yesterday how he has “extraordinary proof” of him being the infamous Bitcoin creator, although it remains to be seen what this evidence entails exactly.

What we do know is how Mr. Wright – or is he Mr. Wrong after all? – will present a series of “pieces laying the foundation for this extraordinary claim”. Leaving all of the flair for the dramatic aside for a moment, it appears as independently-verifiable documents and evidence addressing false allegations will be posted online.

READ MORE

Taxes Claim Half Prince’s Estate: He Should Have Left Bitcoin Behind

cointelegraph.com / Joël Valenzuela / 2016-05-03 05:20 PM

Prince, the beloved, recently departed pop star, may have up to half of his estate go to the government. He could have avoided losing much of his financial legacy by using Bitcoin instead.

The highly prolific musician died last month, but unfortunately passed away without leaving a known will. As such, a significant portion of his estate, potentially up to 50%, will end up being claimed by the government. Seeing as how Prince’s estate is valued at around $300 million, that would mean $150 million in taxes.

The prolific musician reportedly wrote and recorded an estimated 2,000 unreleased songs, which could be released to fans in order to help pay off the considerable tax bill left behind.

READ MORE

Global Bitcoin Technology Market 2016-2020 – Major Players are Bitcoin.Travel, Amazon, Bitcoinshop.us, WordPress.com and Honest Brew – Research and Markets

prnewswire.com / PRNewswire / May 4, 2016

Research and Markets has announced the addition of the “Global Bitcoin Technology Market – Market Trends and Forecasts (2015 – 2020)” report to their offering.
The Global Bitcoin Technology Market is estimated to grow at a CAGR of 7.26%Bitcoin, has paved the way for increased mainstream acceptance for the digital currency, which even has the potential for transforming global financial transactions. In the current scenario, most of the online merchants and startup companies have already started enjoying the anonymity and efficiency of bitcoin payments, which allows them to cut overhead costs compared to credit or debit cards transactions.

A booming economy and growing disposable income among middle income groups in the developing world has led Bitcoin technologies to gain traction and to be used as one of the medium of exchange in the region.

However, the recent regulations and directives imposed by the European banking authorities has hugely impacted the Bitcoin market in Europe. Whereas, owing to large number of bitcoin users, the market will witness growth in the North American region.

READ MORE

iPayYou Launches the World’s Easiest, Safest and Most Useful Bitcoin Wallet

themerkle.com / Mark / May 3, 2016

With its ease of use and historically low costs, the new iPayYou wallet is set to redefine bitcoin as a payment method for everyday consumers

May 3, 2016 – New York, NY – iPayYou, a Seattle-based company aiming to make Bitcoin simple, yesterday launched the World’s Easiest, Safest and Most Useful Bitcoin Wallet for consumers. The iPayYou wallet, which boasts never-before-seen features, is designed to make bitcoin a desired payment method for everyone.

The iPayYou wallet lets users hold, buy, sell, send, and receive bitcoin with historically low costs through its simple and secure website, with all of the user’s funds kept in their own personal bitcoin account.

Unlike other bitcoin wallets on the market, the iPayYou wallet enables consumers to cancel transactions, should a mistake be made in the payment process, and send payments via email without the need for the recipient to have a pre-created bitcoin account.

READ MORE

Coinsource Expands Reach, 7 Bitcoin ATMs Launching in Los Angeles

bitcoinist.net / Bitcoinist.net / 2016/05/04 10:13 AM

LOS ANGELES, CA – May 3, 2016 – Coinsource, the National Bitcoin ATM Network, today announced its single largest installation of bitcoin ATMs to date, launching seven new machines across the Los Angeles area and two more bitcoin ATMs in Las Vegas. Coinsouce is now the largest bitcoin ATM provider on the West Coast with 16 machines in San Francisco, Silicon Valley, Los Angeles, Las Vegas, and San Diego.

Disclaimer: This is a press release. Bitcoinist is not responsible for this firm’s products and/or services.

Coinsource Expands

Four bitcoin ATMs have been installed in LA proper, with one each in Lynwood, Long Beach and Torrance. Coinsource maintains the lowest transaction fee of any major bitcoin ATM network and now has a total of 30 machines in five states across the country.

Coinsource CEO and Co-Founder Sheffield Clark said his company is expanding quickly, in concert with the growing demand for digital currency, with bitcoin now trading above $450, up from $220 one year ago.

READ MORE

BitPay officially launches Bitcoin based Visa card

leaprate.com / Mike Fox / 

BitPay, a Bitcoin payments solutions company with offices in Atlanta, San Francisco and Amsterdam today launched the BitPay Visa Card, a debit card available to consumers across America in all 50 states.

The BitPay Card can be loaded from any bitcoin wallet. There are zero fees on bitcoin top-ups, and you can load up to $10,000 per day in spendable funds. The BitPay Card can also be reloaded with direct deposits from employers.

READ MORE

Who Created Bitcoin? The Long Search May Not Be Over

business.newsfactor.com / Brandon Bailey / MAY 04, 2016

Who is Satoshi Nakamoto? For many in the tech world, the identity of bitcoin’s elusive creator has been a long-running parlor game. And the speculation might not be over.

Australian entrepreneur Craig Steven Wright, who announced Monday that he founded the digital currency, convinced at least one longtime bitcoin contributor that he’s the real deal. He managed that feat via a technical demonstration involving Nakamoto’s secret bitcoin keys. But Wright’s public documentation, which he posted online Monday, underwhelmed others and left the question of Nakamoto’s true identity far from settled.

“There’s no way you can conclusively prove that you are the creator of bitcoin,” said Jerry Brito, executive director of Coin Center, a Washington, D.C.-based crypto-currency think tank, who is skeptical of Wright’s claims.

Tracking a pseudonymous cryptographic genius would be challenging under the best circumstances. And here we’re talking someone who invented a way for people to send money around the world anonymously, without banks or national currencies. Someone who apparently disappeared five years ago for unknown reasons.

None of that has stopped people from trying. Journalists, researchers and amateur detectives have scoured Nakamoto’s emails and online posts, plus the original bitcoin code, for unusual phrases, cultural references and other potential clues to their author.

READ MORE

Kraken Will Provide Data for CME Group Bitcoin Price Indices

allcoinsnews.com / Hans Lombardo / May 4, 2016

Cryptocurrency exchange operator Kraken will be the key supplier of market data for CME Group’s reference and real-time bitcoin price indices being launched later this year.  CME is currently the joint operator of the S&P 500 and Dow Jones Industrial Average and one of the world’s largest options and futures exchanges.

Kraken’s market data was previously recognized as a reliable standard in 2014, when it became the first bitcoin exchange to provide complete price and volume data to the Bloomberg Terminal.

CME Group, in collaboration with Crypto Facilities Ltd, will launch the CME CF Bitcoin Reference Rate (BRR) and the CME CF Bitcoin Real Time Index (RTI) in the fourth quarter of 2016, a significant step in the developing use of cryptocurrency in the derivative market.

CEO of Kraken, Jesse Powell, said his company is perfectly equipped to furnish the CME CF BRR and RTI immediately upon roll-out.

READ MORE