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What is Bitcoin?

Bitcoin is a digital crypto-currency with no single point of failure due to its decentralized peer-to-peer architecture. The source code is publicly available and changes to the reference Bitcoin client are made via concensus within the community. Advantages of Bitcoin include irreversible transactions (i.e. no possibility of chargebacks as with credit cards), pseudo-anonymous, limited and fixed inflation, near instant transactions, multi-platform, no double-spend and little to no barriers to entry and more. It was created by an anonymous person known as Satoshi Nakamoto. Find out more at WeUseCoins.com.

Bitcoin Latest News

Fidelity's Charity Arm Has Raised $9 Million in Bitcoin So Far in 2017

Fidelity Charitable has announced it has raised nearly $9m in bitcoin in 2017, a figure that already surpasses last year's total.

Source

Posted on 29 June 2017 | 8:35 am

'Life on Bitcoin' Documentary Gets VidAngel Distribution (Exclusive) - Hollywood Reporter


Hollywood Reporter

'Life on Bitcoin' Documentary Gets VidAngel Distribution (Exclusive)
Hollywood Reporter
The doc about a couple who live using the digital payment system instead of U.S. money will release on the movie-filtering service. LIfe on Bitcoin, a documentary about a couple who live using the digital payment system instead of U.S. money, will ...

Posted on 29 June 2017 | 7:30 am

How Bitcoin Does Versus Gold, Fiat and All World's Money - CoinTelegraph


CoinTelegraph

How Bitcoin Does Versus Gold, Fiat and All World's Money
CoinTelegraph
Since 2009, Bitcoin has made a long road and has overcome many obstacles on its journey. The Bitcoin price has grown exponentially, and its market cap is at the time of writing over $41 bln, which is the same net worth of Google's co-founder, Larry Page.

Posted on 29 June 2017 | 7:23 am

Pot-Friendly Bitcoin Startup Raises $1.5 Million

POSaBIT, a Seattle-based digital currency payments startup with a focus on serving legal cannabis outlets, has raised $1.5m in funding.

Source

Posted on 29 June 2017 | 7:00 am

Bitcoin Scaling Project Segwit2x to Release New Code Tomorrow

Code for a popular but controversial bitcoin scaling proposal is set to be released on Friday, marking a major milestone for the effort.

Source

Posted on 29 June 2017 | 6:10 am

Bitcoin Phishing Scheme Perpetrator Pleads Guilty in Connecticut Court - CoinDesk


CoinDesk

Bitcoin Phishing Scheme Perpetrator Pleads Guilty in Connecticut Court
CoinDesk
In Hartford Federal Court on Tuesday, 35-year-old Michael Richo of Wallingford, Connecticut, admitted to stealing $365,000 in bitcoin through a phishing scheme in which he posted fraudulent links designed to resemble popular dark market websites, ...

Posted on 29 June 2017 | 5:00 am

Bitcoin Phishing Scheme Perpetrator Pleads Guilty in Connecticut Court

A Connecticut resident has pleaded guilty to charges that he stole more than $300,000 in bitcoin as part of a phishing scheme.

Source

Posted on 29 June 2017 | 5:00 am

Bitcoin Has Become So Volatile It Looks Like an ETF on Steroids - Bloomberg


Bloomberg

Bitcoin Has Become So Volatile It Looks Like an ETF on Steroids
Bloomberg
With virtual currency flash crashes and a recent string of ransomware attacks all but obliterating bitcoin's incremental stability, it's become hard to find a comparable asset. Indeed, the closest match is an exchange-traded fund on leverage steroids ...

and more »

Posted on 29 June 2017 | 4:55 am

Centralized State Digital Tokens 'Can't Compete With Bitcoin': Max Keiser - CoinTelegraph


CoinTelegraph

Centralized State Digital Tokens 'Can't Compete With Bitcoin': Max Keiser
CoinTelegraph
Banks' centralized digital tokens have come under fresh criticism from cryptocurrency experts and Max Keiser. In a Twitter exchange yesterday, Keiser praised the perspective of computer scientist and Bitcoin enthusiast Datavetaren, who reiterated the ...

Posted on 29 June 2017 | 4:47 am

India: Top Ministerial Meeting On Bitcoin Draws Blank - CoinTelegraph


CoinTelegraph

India: Top Ministerial Meeting On Bitcoin Draws Blank
CoinTelegraph
India is continuing its investigations into cryptocurrency after government officials voted in favor of regulation. An interministerial meeting held Tuesday by Finance Minister Arun Jaitley brought up “several issues concerning Bitcoins,” Business ...

Posted on 29 June 2017 | 4:30 am

Electronics Giant LG is Testing R3's Distributed Ledger Software

A subsidiary of multinational electronics firm LG has announced it intends to investigate blockchain use cases in finance.

Source

Posted on 29 June 2017 | 4:00 am

How can I invest in bitcoin? - The Guardian


The Guardian

How can I invest in bitcoin?
The Guardian
Bitcoin is a digital currency. If you want to buy a camera for £250, then you need a way to transfer £250 to the seller. In theory, it doesn't matter if you pay cash, write a cheque, email the money via PayPal or use bitcoin. In reality, you have to ...
Not Just for Hackers: In First Real Bitcoin Property Purchase in Israel, 6 Coins Buys a CarHaaretz
2017's Best 5 Bitcoin wallets for your Android mobile device Reviewed99 Bitcoins (blog)
Is It Time to Look Again at Bitcoins?Morningstar

all 4 news articles »

Posted on 29 June 2017 | 3:03 am

Celebrity Investor Mark Cuban is About to Participate in His First ICO

Celebrity investor Mark Cuban has revealed he intends to purchase tokens as part of an ICO launched by one of his portfolio startups, Unikrn.

Source

Posted on 29 June 2017 | 3:01 am

Ether Rebounds As Price Rises Back Above $300

The price of ether experienced an uptick on Wednesday after falling below the $300 mark during the day's trading session.

Source

Posted on 28 June 2017 | 4:01 pm

Bitcoin Price Analysis: Double Bottom Reversal Chases Out the Bears

Bitcoin Price Analysis

In our previous BTC-USD analysis, there was a fear of a massive Head and Shoulders pattern that had very low price projections for the entire crypto market. In a turn of events, when BTC-USD made its test of the Head and Shoulders neckline, it actually responded in a market reversal.

BTCUSD HS Rejection.png

Figure 1: BTC-USD, 6-hr Candles, GDAX, Head and Shoulders Rejection

Yesterday, the crypto market took a turn upward as the market leader made a Double Bottom Reversal pattern that sent a market-wide bear run into an immediate bull run. As the BTC-USD market made an attempt to test the boundaries of the lower prices of the bear run, volume began to pick up and sent us into a market reversal. How does one spot this pattern and where are we headed in the next few days?

BTCUSD Double Bottom.png

Figure 2: BTC-USD, 30-min. Candles, GDAX

Characteristics of a Double Bottom Reversal pattern include the following:

  1. A descending trendline within an established bear trend (shown in white)

  2. An initial bottom that temporarily reverses before retesting the established low (basically forming a “W” pattern)

  3. After a test of the previously established low, the test is rejected

    1. It is important to note that in order to confirm the reversal pattern, typically you want to see consistent increased volume at the lower values (shown in dark pink)

  4. After the low is rejected a second time, it continues upward and breaks the descending trendline established in step 1 (shown in yellow)

  5. After breaking the descending trendline, the price then forms a “neckline” with the rest of the pattern (shown in light pink)

  6. From there, to confirm the trend reversal, we would want to see a break of the neckline followed by a retest of the neckline (shown in light blue)

All the above characteristics are very strong indicators of a complete bear market reversal into a bull market. As mentioned in the previous BTC-USD analysis, the bear run would continue the trend downward until significant volume picked up. In our case, the volume picked up very strongly and made a complete market reversal. Much like BTC-USD, this pattern is seen throughout several major players in the crypto market: ETH-USD, LTC-USD, ETH-BTC, etc.

It is unclear where the top of the bull run will lead us, but what is clear is that volume has dramatically picked up, indicating market interest in the higher prices. Until the volume begins to die down, the price will continue to push higher.

Summary:
  1. Head and Shoulders pattern was strongly rejected in the form of a Double Bottom Reversal

  2. Bearish trend has ended in a strong bull trend

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTCMedia related sites do not necessarily reflect the opinion of BTCMedia and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Double Bottom Reversal Chases Out the Bears appeared first on Bitcoin Magazine.

Posted on 28 June 2017 | 3:29 pm

Daimler AG Issues €100 Million Corporate Bond in Blockchain Trial

German automaker Daimler AG has issued a corporate bond worth €100m as part of a blockchain pilot project.

Source

Posted on 28 June 2017 | 2:30 pm

Europe's Second Largest Port Launches Blockchain Logistics Pilot

The second-largest port in Europe by container capacity is now running a pilot blockchain project focused on logistics automation.

Source

Posted on 28 June 2017 | 12:30 pm

Pantera Capital to Raise $100 Million in Investment for ICO Hedge Fund

A new hedge fund backed by Pantera Capital has raised $100m to invest in the open-source digital token space.

Source

Posted on 28 June 2017 | 10:59 am

CFTC Chief Asks Congress for More Money to Oversee Blockchain

The CFTC has cited the advance of technologies like blockchain in a request to obtain additional funding for its oversight activities.

Source

Posted on 28 June 2017 | 9:30 am

Blockchain Startup ChromaWay to Launch 'Hybrid Database' Product

Swedish startup ChromaWay has released a new product called Postchain that mixes blockchain and standard database technology.

Source

Posted on 28 June 2017 | 8:45 am

Bitcoin Legal Experts: nChain SegWit Criticisms Are Flawed

An evaluation of the possible legal risks of a bitcoin protocol change written by startup nChain has been criticised by industry legal experts.

Source

Posted on 28 June 2017 | 7:50 am

New York Preschools Accept Bitcoin and Ether for Tuition Payments

Two private preschools in New York City now allow parents to pay for tuition with bitcoin, ether and litecoin.

Source

Posted on 28 June 2017 | 6:30 am

R3 Completes DLT Commercial Paper Prototype with Bank Partners

Consortium startup R3 has completed work with four banks on a prototype that issues short-term debt over its Corda distributed ledger platform.

Source

Posted on 28 June 2017 | 4:35 am

'End Poverty, Restore Trust': World Bank Dives into Blockchain with Lab Launch

The World Bank is launching a blockchain lab to develop projects that can improve governance and social outcomes in the developing world.

Source

Posted on 28 June 2017 | 3:00 am

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World Economic Forum Publishes Blockchain Governance Taxonomy

The World Economic Forum has published a paper arguing that blockchain stakeholders should organize in a way that would dwarf the largest consortia.

Source

Posted on 28 June 2017 | 2:38 am

Russia's Crypto-Winter Shows Signs of a Thaw in Saint Petersburg

stpetersburg.jpg

A mixed crowd of denim jeans and custom-tailored suits, typical for crypto-events, is standing across the vertical aisle of the the main conference area at the Blockchain & Bitcoin Conference in Saint Petersburg, blocking the line of sight for those lucky enough to have snatched themselves a chair in the back. The hall, while spacious — high ceiling, tall arched windows partly covered with ASIC mining billboards — still isn’t quite large enough to fit all interested visitors.

The speaker on stage works for Alfa Bank, one of the biggest banks in Russia. The financial sector in the former Soviet block is taking as much interest in Bitcoin and, of course, blockchain technology as anywhere else is. Having skipped Russia’s second-biggest city for the past two years, Smile-Expo re-introduced its Eastern European conference tour in Saint Petersburg last Thursday.

“The event had over 600 visitors, 25 exhibitors and some 20 speakers. Four of those work for Russia’s largest financial institutions,” event organizer Pavol Likhomanov told Bitcoin Magazine. “Entrepreneurs and finance professionals are increasingly taking this technology seriously. This is evident from the turnup here in Saint Petersburg; and we’ve seen year-over-year growth in interest at our Moscow event as well.”

This interest is not necessarily self-evident. It was only in 2014 — indeed, around the time of the last Saint Petersburg conference — that Russia seemed to emerge as one of the most crypto-hostile nations on the globe. In an attempt to curb criminal activity, the Putin administration introduced draft legislation that would essentially ban any use of cryptocurrencies. Not much later, access to a number of Bitcoin websites, including bitcoin.org, was blocked in the country.

But so far, the proposed law has never actually been implemented.

“Bitcoin and cryptocurrencies still have no legal status in Russia,” Artem Tolkachev told Bitcoin Magazine. The director of Deloitte Russia’s legal services for technology projects was one of the headline speakers at the event, where the legal implications of blockchain technology represented a big chunk of the morning program.

“The central bank considers cryptocurrency like bitcoin a money surrogate, which is a progressive stance. But the Ministry of Finance is more conservative. They don’t like anything they don’t understand and cannot control,” he said. “And Russian policymakers are not always very open-minded. They prefer to have their own internet … their own currency.”

Needless to say, Bitcoin is not a great fit in such a worldview.

The Thaw

But the initial icy stance on digital currencies seems to be getting a bit less frosty these days.

It was only a couple of weeks ago that Russian president Vladimir Putin met Ethereum creator Vitalik Buterin at the International Economic Forum, also held in Saint Petersburg. In the widely reported event, within the crypto-sphere at least, the president was said to have “supported the idea of establishing ties with possible Russian partners” — referring to Buterin’s technology pitch.

The announcement has been interpreted as a sort of preliminary green light for Russian blockchain entrepreneurs and investors. While not quite an official endorsement from the Kremlin, let alone formal regulation, it’s been a hopeful sign nonetheless.

But until it’s official, Russian cryptocurrency users across the halls in the historic Vedensky Hotel, the site of last week’s event, remain reserved.

“The Russian market is volatile,” Timur, a former forex trader, told Bitcoin Magazine. He offers a platform that allows Russian brokers to trade on behalf of their clients, Russian cryptocurrency speculators. Speaking from his exhibit stand in Saint Petersburg, he explained: “We never know for sure if what’s accepted today will be legal tomorrow. Official policy could change at a whim.”

That’s why his company sets customers up with foreign bank accounts in Switzerland, or Lithuania, or maybe offshore. The coins themselves — bitcoin, litecoin, ether — never leave the exchange where they are traded.

And these exchanges are not in Russia either … at least not officially. Incorporating abroad is a typical strategy for Russians and their cryptocurrency startups.

Mining

It’s not just traders and the finance sector that are taking an interest. Bitcoin mining is growing in Russia too.

This is perhaps most evident from the rise of mining pool BitClub Network over the past months. While officially established outside of Russia, the team works from Kazan, a city to the east of Moscow. Already one of the biggest non-Chinese miners on the Bitcoin network, BitClub Network’s founder — he’s casually wearing a T-shirt emblazoned with an image of Putin — assured Bitcoin Magazine his will be a top-five pool by the end of the year. At least, that’s what one of his employees translated into English, his smartphone showing videos of data centers full of humming ASIC miners.

Russian miners are now setting up data centers such as these in the east of Russia, Alex of mining service provider MyRig told Bitcoin Magazine. “The temperature in Irkoetsk, for example, is ideal for Bitcoin mining: it can be -40 degrees Celsius. Meanwhile, electricity is cheap. There’s a big raw material industry, but with the crisis, some factories are out of use. With energy to spare, miners are starting to fill that void.”

MyRig, a rebranding of Bitmain Warranty (not to be confused with Bitmain), is not the only mining business at the Saint Petersburg conference. The company is vying for attention with several competitors in one of the exhibition rooms. One of them sells entire containers full of equipment, not unlike BitFury’s mobile data centers. Another is re-selling Antminers, the best-selling Bitmain machines.

“But to mine bitcoin in Russia at scale, you do still need to have the right connections,” Alex continues. “If you don’t know your way around local policymakers you risk being shut down.” Though with the increase in profits that the mining sector has seen over the past half year or so, the “big dicks” are entering the space, Alex said. “The guys with lots of money — and lots of connections. I’d expect mining in Russia to continue to grow significantly over the next year.”

And official regulation should be coming too, Deloitte’s Tolkachev said. A draft bill for cryptocurrency should be introduced within a few months, and could be approved by early 2018. This could bring some much-desired regulatory clarity for Russians wanting to open cryptocurrency-related businesses and otherwise openly engage in the industry without needing to work around the existing legal structure.

That is, visitors in the Vedensky Hotel generally seemed to agree, unless Putin changes his mind.

The post Russia's Crypto-Winter Shows Signs of a Thaw in Saint Petersburg appeared first on Bitcoin Magazine.

Posted on 27 June 2017 | 2:10 pm

Bitcoin Exchange Operator Sentenced to Five-and-a-Half Years in Prison

The former operator of the now-defunct bitcoin exchange Coin.mx has been sentenced to five-and-a-half years in prison.

Source

Posted on 27 June 2017 | 1:25 pm

Asus Announces New Graphics Cards Focused on Cryptocurrency Mining

One of the world's largest technology hardware makers has released new graphics cards (GPUs) aimed at the cryptocurrency mining market.

Source

Posted on 27 June 2017 | 11:30 am

FBI: Hackers Extorted $28 Million in Cryptocurrencies Last Year

FBI report on cryptcurrencies and hackers

On June 22, the Federal Bureau of Investigation presented its annual Internet Crime Report for the year of 2016. The FBI analyzed the victim reports at the Internet Crime Complaint Center (IC3) and used the information from their database to publish the annual study. It is important to mention that, according to the Department of Justice’s research, only an estimated 15 percent of the U.S. fraud victims reported their crimes to law enforcement.

The FBI highlighted multiple “hot topics” regarding internet crimes for the year of 2016. This included Business Email Compromise (BEC), which resulted in the loss of $360 million from victims, currently standing in first place in the category of most damage caused. BEC is a sophisticated scam targeting companies working with international or foreign businesses or suppliers who conduct wire transfer payments at regular intervals.

Ransomware, an emerging “business form” among cyber criminals, was specially mentioned in the report. When launching such attacks, the hackers target electronic devices — mostly computers and laptops — with malware that locks up the data of the machines. After the criminals successfully breach the systems of the victims, they demand ransom from them. According to the FBI, in most cases, the ransom is paid in digital currencies, such as bitcoin. In 2016, the IC3 identified 2,673 complaints connected to ransomware attacks, with an estimated loss of over $2.4 million.

Another featured sort of internet crime was tech support fraud demanding approximately $7.8 million from the victims. The scam occurs when the criminals impersonate technical support agents from a computer software, security, cable or internet company. After the hackers get in contact with the victims, they convince them to provide remote access to their devices. Once the criminals have control over their systems, additional criminal activity occurs. Multiple companies, including Microsoft and Mozilla, alerted their customers on their websites regarding such fraudulent activities.

The IC3 recorded 17,146 cases of extortion with losses over $15 million, which occurred using the internet. By the FBI’s description, in extortion cases, cyber criminals “demand something of a value from a victim by threatening physical or financial harm or the release of sensitive data.” The agency identified various forms of the crime, including denial of service attacks, hitman schemes, “sextortion,” government impersonation schemes, loan schemes and high-profile data breaches. According to the FBI, cyber criminals often demand the payments in cryptocurrencies from the victims, which provides the perpetrators an additional layer of security since they are easy to send but harder to trace.

Compared to the previous year, the number of reported internet crime cases increased by 3.7 percent in 2016, with the damage caused to the victims rising by $380 million. Excluding the United States, the top five countries affected by internet crime are ranked in the following order: Canada (3,722 cases), India (2,188 cases), the United Kingdom (1,509 cases), Australia (936 cases) and France (568 cases). Among the states of the U.S., California had the most victims (39,547) followed by Texas (21,441) and Florida (21,068).

The FBI also compared the age groups affected by internet crime. Victims aged above 60 had the most damage ($339 million) and the most cases (55,043). People between the ages of 30 and 39 had the second most cases (54,670); however, they lost only 56 percent ($190 million) to the criminals compared to those over 60. Young persons under the age of 20 had both the least amount of cases (10,004) and damage ($6.7 million).

ic3-2016-internet-crime-report-highlights-infographic-2.jpg


The post FBI: Hackers Extorted $28 Million in Cryptocurrencies Last Year appeared first on Bitcoin Magazine.

Posted on 27 June 2017 | 10:48 am

Blockchain-Based Remittance Companies Win at RemTECH Awards Ceremony

RemTech Awards

The global remittance industry’s blockchain-based startups got a boost recently at the Remittance Technology (RemTECH) awards held at the United Nations in New York, from June 16 to 18 as part of the UN Global Forum on Remittances, Investment and Development.

Of the 11 award-winning remittance companies, five startups built on the blockchain were winners. The entries were judged on price, speed, the onboarding of enterprise clients (for white label solutions) and seamless delivery.

The aim of the RemTECH awards is to showcase the most innovative and outstanding ideas, models and projects designed to improve remittance services worldwide by improving transparency, speed, cost and reliability for companies and end-users that send and receive remittances.

Hugo Cuevas-Mohr, Director of the RemTECH Awards, told Bitcoin Magazine:

“Even though large money transfer companies still don’t see the importance of the breakthroughs of blockchain-based and Bitcoin remittance startups, the RemTECH Judging Panel was impressed by some of the solutions presented by companies like Bitso and Everex, just to name two of them.”

“The Awards gave new blockchain startups a chance to shine in the spotlight of the United Nations Forum where the public and private sector met to discuss the challenges of the remittance industry. At IMTC (International Money Transfer Conferences) we are striving to create this dialog of incumbents and fintech firms to work together and create win-win partnerships. It’s not easy but it is happening,” added Cuevas-Mohr.

Bitcoin and blockchain services AirPocket, Bitso, Everex, Moneytis and Trulioo took home the following awards:

Remittances and Financial Inclusion: AirPocket

AirPocket, built on the Bitcoin blockchain, serves Latin America with tens of thousands of payout locations and is supported by the top banks in each country.

Pioneering Spirit: Bitso

Mexican bitcoin exchange Bitso, which raised $2.5 million last September, has been working with Canadian payments startup Paycase to create a new remittance corridor between the two countries and send funds from bank accounts in Canada to Mexico.

Most Innovative Service: Moneytis

Bitcoin blockchain-based Moneytis aims to offer the lowest possible fees to help empower unbanked groups in the developing world. They also have a notification service that monitors all exchange rates in real-time and sends alerts when a significant change happens.

Potential for Growth: Trulioo

Trulioo is a Canadian blockchain-based financial technology company that in addition to remittance services, offers identity verification services for businesses and organizations worldwide using government and private databases.

Service Originality: Everex

Everex was the only Ethereum-based platform nominated. In addition to its contributions to remittance services, Everex has also developed a system for placing national currencies on the blockchain. By doing so, Everex allows people living in cash-based societies to earn a public financial reputation.

“The judges knew about Ethereum, and were excited by the ongoing experiments taking place on the network by individual users, small businesses and multinational corporations,” said Alexi Lane, CEO of Everex, in a statement. “This technology will transform the remittance industry and increase financial inclusion everywhere.”

Greta Geankoplis, a CEO and IMTC (International Money Transfer & Payments Conferences) advisor and entrepreneur who has developed blockchain systems and technology, co-chaired the judges panel. She told Bitcoin Magazine:

“Blockchain (and some Bitcoin specifically) platform-based companies competed shoulder to shoulder with older technology for delivering cross-border value to diverse customers in widely varying environments.

But this is just the beginning. Blockchain platforms in the $700 billion remittance industry holds the promise of leveraging many other needed services in the fastest growing markets: mobile based, micro insurance, loans, education, and remote healthcare to name a few.”

Other blockchain-based companies that were nominated for a RemTECH award included Bitex, Cashaa, DigitalX and OKLink.

The post Blockchain-Based Remittance Companies Win at RemTECH Awards Ceremony appeared first on Bitcoin Magazine.

Posted on 22 June 2017 | 11:18 am

Ether Price Analysis: Here’s What Just Went Down

Ether Price Analysis

A few days ago, just before a 25% market pullback, ETH-USD reached all-time high values upward of $420 as ICO investors desperately tried to accumulate ether to purchase Bancor tokens. The Bancor ICO was single-handedly responsible for congesting the Ethereum networks as users scrambled to get their ICO orders in time. This created a scenario where individuals were spending large sums of ETH to expedite their transactions and push other transaction times further and further back — the sheer volume of which could not be handled by many exchanges and wallets.

Coinbase Status.png

Figure 1: Coinbase Ethereum Transactions Delayed

Across multiple exchanges, messages like the one above began popping up yesterday as the perfect storm of ICO congestion from “Status” met a flood of ETH being sold off to BTC via the ETH-BTC markets (shown in yellow in the figure below). At the time of this article, the aftermath of the Status ICO is still being felt as many wallets and exchanges still have Ether-related services disabled. coinbase-ethbtc-Jun-21-2017-14-41-33.png

Figure 2: ETH-BTC, 1 HR Candles, GDAX

Once the services begin to open up and allow cold storage holders to get their coins on the market, one can only speculate how far the price will continue to be pushed down. Given the long-term, bearish indicators on the ETH-USD markets, it is entirely possible that we will see further tests of the lower support levels (shown in brown). The relatively low volume on this recent dip indicates the real price action has yet to truly begin. Because of the backlogged transactions from the Status ICO event, the volume we have seen thus far has mostly likely only been by those who held their coins on the exchange. The MACD and RSI (indicators of market momentum) are showing no sign of divergence (market momentum reversal) and there is very little upward pressure to keep the price aloft.

coinbase-ethusd-Jun-21-2017-15-55-12.png

Figure 3: ETH-USD, 6 HR Candles, GDAX

Where the bottom of this bear run truly lies remains to be seen. However, for the first time since the double-digit values, the 1-day candles are showing a bearish trend on the MACD (shown in purple), and the RSI is showing a loss of momentum (divergence shown in orange). As it stands, ETH-USD is sitting on the first Fibonacci Retracement Line at ~$315 where it is flirting with the idea of lower values.

kraken-ethusd-Jun-21-2017-16-13-58.png

Figure 4: ETH-USD, 1 Day Candles, Kraken

Bancor and Status set record transaction volumes and accumulated millions of USD in the form of ETH. Is $300 the bottom of this Bear Run? Maybe. But one has to ask, “What would you do if you just had two of the largest ICOs in history, where the value of the ETH used to fund your project is at all time high values? Would you watch your capital dwindle away under bearish conditions, or would you cash out?"

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTCMedia related sites do not necessarily reflect the opinion of BTCMedia and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Ether Price Analysis: Here’s What Just Went Down appeared first on Bitcoin Magazine.

Posted on 21 June 2017 | 2:10 pm

More Universities Add Blockchain Courses to Meet Market Demand

More Universities Add Blockchain Courses to Meet Market Demand

In recent months, there has been a surge in the demand for blockchain professionals. Data from the professional networking site LinkedIn has shown that blockchain related job postings have tripled in the last 12 months. This shows that there is a high demand for blockchain experts as the potential and applicability of blockchain technology becomes more apparent to corporations. Recognizing this opportunity, several universities have added blockchain studies to their fields of study to tailor their educational offerings to these new developments in the job market.

The University of Edinburgh, for example, has recently announced the launch of a blockchain technology laboratory within its School of Informatics through a collaboration with technology startup Input Output Hong Kong (IOHK). The new lab will focus primarily on blockchain studies. However, related interdisciplinary research will be also encouraged.

Speaking at the launch of the blockchain technology lab, IOHK Co-Founder, Jeremy Wood stated: “IOHK’s partnership with the University of Edinburgh provides unique opportunities for current students to become the next generation of blockchain and cryptography leaders. As a headquarters for IOHK’s international academic research community, we expect to see the university facilitate innovative projects that drive how businesses and governments approach blockchain and cryptocurrencies.”

The University of Edinburgh now joins a small but growing list of educational institutions that are including courses on blockchain technology in their curricula.

Though the University of Edinburgh is the first to offer a blockchain course of this kind in the United Kingdom, universities in the U.S. have already been doing so for a while. Stanford University began offering a course on cryptocurrencies, blockchains and smart contracts two years ago, while the University of California, Berkeley also offers a blockchain course.

The Massachusetts Institute of Technology (MIT) is in the process of developing a course on the subject matter, while the University of Nicosia in Cyprus is offering the world’s first MSc in Digital Currency. The master's degree covers all key areas of digital currencies such as regulation, cryptography and blockchain technology applications. Students can even pay the tuition fees for the degree in bitcoin.

There are also a number of online courses created to cater to the rising demand for blockchain expertise. Princeton University has partnered with online learning platform Coursera to provide an intensive 11-week course on bitcoin and cryptocurrency technology.

The Blockchain University and the B9lab also offer blockchain and cryptocurrency courses designed to cater to professionals who are seeking to improve their knowledge and have a competitive edge in the industry.

The CryptoCurrency Certification Consortium (C4) includes Andreas Antonopoulos, Vitalik Buterin, Pamela Morgan, Josh McDougall and Michael Perklin on its board of directors. It offers cryptocurrency courses and provides participants with professional certificates upon completion. Certified Bitcoin Professional (CBP), Certified Bitcoin Expert (CBE), and Certified Ethereum Developer (CED) are the three professional certifications available.

The rise in blockchain related courses both online and in leading educational institutions is a testament to growing confidence in the technology's ability to disrupt industry in the future. Blockchain technology is now being recognized as an applicable solution to real world business challenges and that is reflected in both the job market as well as in educational courses on offer.

The post More Universities Add Blockchain Courses to Meet Market Demand appeared first on Bitcoin Magazine.

Posted on 21 June 2017 | 11:28 am

Bitcoin reaches new all-time high: $ 3,000

Posted on 12 June 2017 | 1:06 am

CRYENGINE now accepts Bitcoin

Posted on 29 March 2017 | 1:24 am

Consulting firm EY Switzerland accepts Bitcoin

Posted on 26 November 2016 | 12:47 am

Bitcoin Trading Bots

There have been a wide variety of situations in which algorithmic trading programs have proven to be beneficial for investors. However, investors who only trade a cryptocurrency can also take advantage of bitcoin trading bots. Through bitcoin bot trading, traders can become more flexible and prompt, minimize errors and process information more rapidly. At this… Read More »

Posted on 8 November 2016 | 6:20 pm

Steam accepts Bitcoin

Posted on 29 April 2016 | 1:09 am

PayPal and Virtual Currency

Posted on 23 September 2014 | 9:52 pm

Wikimedia Foundation Now Accepts Bitcoin

Posted on 30 July 2014 | 3:14 pm

German Newspaper "taz" accepts Bitcoin

Posted on 22 July 2014 | 1:32 pm

airBaltic - World’s First Airline To Accept Bitcoin

Posted on 22 July 2014 | 11:03 am

Expedia to accept Bitcoin payments for hotel bookings

Posted on 12 June 2014 | 12:41 pm

June 29, 2017 -
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