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Today 16 news :

  • Bitcoin exchange Coinbase seeks investors in new round of funding with $1 billion valuation, par Bhanu Pratap, 2 June 2017

    Friday 2 June 2017 :: Business Insider: Bitcoin :: RSS
    FILE PHOTO - A Bitcoin sign is seen in a window in Toronto, May 8, 2014.   REUTERS/Mark Blinch/File Photo
    Bitcoin exchange Coinbase Inc is in talks with potential investors on a new round of funding at a valuation of more than $1 billion, the Wall Street Journal reported on Friday.
    It is not clear which investors are committing to the round, which was described as targeting around $100 million or more, the Journal reported, citing people familiar with the matter.
    That would represent the biggest funding round on record for venture-backed bitcoin companies, the report said.
    A Coinbase spokesman declined to comment when contacted by Reuters.
    Coinbase, the world's largest bitcoin company, has seen heavy traffic and trading on its platform in recent weeks as bitcoin reached all-time highs.
     Demand for crypto-assets has soared with the creation of new tokens to raise funding for start-ups using blockchain technology.
    Coinbase said in January it raised $75 million from several major financial institutions including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA.
    Earlier this year, Coinbase received a virtual currency and money transmitter license from the New York Department of Financial Services.
    (Reporting by Bhanu Pratap in Bengaluru; Editing by Sai Sachin Ravikumar)
    Join the conversation about this story »
    NOW WATCH: 7 colors that might get you sued Read more Bhanu Pratap
  • REALIST NEWS – Crypto Chat – Bitcoin Ethereum Ripple, par brotherjohn, 2 June 2017

    Friday 2 June 2017 :: Silver For The People - The Blog » bitcoin :: RSS

    jsnip4Published on Jun 2, 2017
    The post REALIST NEWS – Crypto Chat – Bitcoin Ethereum Ripple appeared first on Silver For The People. Read more brotherjohn
  • As Blockchain Advances, Developers Look To Open Source As A Solution, par Mark Melin, 2 June 2017

    Friday 2 June 2017 :: ValueWalk » Bitcoin :: RSS
    As the digitization of financial transactions becomes ever more mainstream, with Bitcoin’s core technology blockchain leading the way, the rapid adaptation raises security concerns at the same time its enhanced efficiency is being exploited. A recent Greenwich Associates survey highlights the conundrum but also points to solutions.

    Greenwich Associates survey shows movement to create common industry standard

    In a survey of financial services executives using distributed ledger technology that operates behind blockchain, 61% support the method at a time when industry executives are voicing a need for technical consistency.
    “Consistency and security across all technical platforms in financial services is a challenge that the industry must overcome,” Gabriele Columbro, Executive Director at the Symphony Software Foundation told ValueWalk.
    MichaelWuensch / Pixabay

    That attitude coalesces with Greenwich Associates study, which notes an all-encompassing goal for blockchain that is “ambitious,” according to the report. That goal is “to completely rebuild the technology infrastructure that enables markets to function, from issuance to trading to settlement,” wrote report author Richard Johnson, Greenwich’s Vice President in the Firm’s Market Structure and Technology practice.
    In an age of highly interconnected markets, obtaining consensus on anything can be a challenge. But blockchain’s speed to settlement – transactions took 10 minutes to settle on a peer-to-peer basis – and its related cost savings are a key motivator. The cost savings could increase with widespread adoption, as the more financial services companies that integrate the technology into their trade work-flows the more significant the cost savings.
    Encouraging a single consistent platform for development is being done not only through a financial incentive, but on a code-sharing basis as well.
    “To increase adoption, speed development and foster community, many blockchain technology companies are deciding to distribute their software as open source,” Johnson wrote. “In turn, these companies are exploring new approaches and technologies to cyber-secure this new technology.”
    It is that last issue, security, where attention is being focused, particularly when open source technology is involved.

    Blockchain and distributed ledger address security concerns

    The concept of open source software – sharing computer code and allowing others to create their own adaptations to it – gained popularity in the mid-1990s when the Linux computer systems were released.
    Proponents of open-source concept point to quicker, lower-cost software development due to core applications and processes already being created and tested, leading to a less “buggy” and troublesome application development process. Detractors, however, make a powerful case in that such systems can be more vulnerable to malicious users and computer hackers, and how the code is used by other developers is out of the control of the programmers who originally created it.
    To address concerns, financial services focused open-source foundations such as Hyperledger or the Symphony Software Foundation are proliferating with the goal to provide trusted governance for mission-critical open source endeavors and address concerns.
    The Greenwich survey notes the concern. 85% are concerned or very concerned that the permissioned networks and centralized identity management systems are creating a big target for hackers. 46% are concerned or very concerned that damaging computer viruses or bugs could be introduced into the system.
    To address these security concerns, developers are taking a multi-pronged approach.
    A hardware security module (HSM), a system that secures and manages digital keys and provides strong authentication and encryption, is one potential solution. The report noted HSMs allow for the generation, storage and management of secure cryptographic keys and are currently used in retail banking and in payment transactions. 58% percent of study participants said HSMs are an essential part of addressing security concerns.
    There is also multi-signature technology that was being used, and the concept of releasing some applications open source, but keeping private key security applications is also being addressed.
    “As with all types of technology, there are risks that need to be addressed,” Johnson wrote. “While blockchain/DLT itself is a revolutionary technology, many of the development processes and supporting technologies have been around for years. So while this new technology may generate high levels of concern and uncertainty, many of the tools required to bring it to market have already been tried and tested in financial services.”
    The post As Blockchain Advances, Developers Look To Open Source As A Solution appeared first on ValueWalk. Read more Mark Melin
  • A high level overview of ICOs, par Tim Swanson, 2 June 2017

    Friday 2 June 2017 :: Great Wall of Numbers » Bitcoin :: RSS
    [Note: I neither own nor have any trading position on any cryptocurrency.  The views expressed below are solely my own and do not necessarily represent the views of my employer or any organization I advise.]
    Just as I did with the COIN ETF proposal last year, I have also written a 50-page paper for internal use diving into the world of ICOs.1
    I am not sure if or when it will be made public (check back in 3-6 months to see if it has been posted), but here are a few salient points:
      • ICO stands for “initial coin offering.” Depending on what cryptocurrency group is pitching an ICO, it may be in exchange for company equity, but often times there is no explicit contractual link between control of the coin itself with some kind of equity or financial performance of the company… because there is often no formal contract provided to investors.  Not all ICOs are alike and any prospective user or investor should look into the specific operational and funding arrangements.
      • Since January 1, 2017, more than $200 million has been raised by more than a dozen ICO-related projects and companies, a figure that will likely double by the end of the summer and triple by the end of the year as turn-key platforms such as Prism, Swap, 0x, and Iconomi, are flipped on.
      • The primary method of raising and funding an ICO is through bitcoin and ether deposits.  This has driven (mostly) retail investors to create accounts at cryptocurrency exchanges – most of which have poor track records such as Bitfinex – and acquire BTC and ETH.  This demand in turn has been a key driver in the current all-time highs seen by many cryptocurrencies including bitcoin and ether.
      • There is very little regulatory or independent oversight of any of these coin offerings.  Most of the projects attempt to shield themselves from scrutiny from securities, commodities, and money-transmission regulators by setting up a non-profit organization or foundation.  These foundations are typically registered in a couple specific countries, each of which is now home to more than a dozen non-profit organizations specifically managing ICOs.  In addition, ICO promoters will often use euphemisms such as “tokens” instead of coins, or call their fundraiser a “crowdsale” or “donation” or “contribution” that the non-profit organization will later re-distribute after the ICO is over.
      • Some of these non-profit entities sign exclusive development contracts with a for-profit entity that is run by the same people who operate the foundation.  That is to say, the foundation will hire the for-profit company to develop and advise the project that the ICO fundraiser marketed and advertised, yet often with no independent oversight.
      • Ignoring accreditation status: very few, only a handful at most, of these ICOs are done in compliance with any KYC, AML, CFT gathering and sharing requirements. This is problematic.  For instance, over $1 billion in ransomware was liquidated (largely) through cryptocurrencies last year thus it could be relatively easy for bad actors (hackers) to liquidate their bitcoin and ether holdings into ICOs and not be easily caught due to the inability to link real world identities to specific blockchain activity.

    Last week Valerie Szczepanik, the head of the SEC’s distributed ledger group, made several public comments.  This included: “Whether or not you are regulated by the SEC, you still have fiduciary duties to your investor.  If you want this industry to flourish, protection of investors should be at the forefront.”
    As of right now, there are just a handful of ICOs that have explicitly attempted to protect investors by providing full transparency into their organizations.  Most do not disclose the principals, directors, and insiders involved within these organizations.  Some have private offerings called a pre-sale.  A pre-sale allows participants to acquire coins at a discount (e.g., pre-sale investors might receive 2x the amount of coins that the public coin sale will have at the same price).  In addition, the participants in a pre-sale are not typically named or made public prior to the public offering of the coins; nor are the conditions by which these participants able to sell their holdings typically disclosed.
    Historically companies which file paperwork in order to be listed on a public stock exchange have to submit an S-1 or its equivalent to regulators.  The S-1 is important and helpful to the rest of the market because it lays out who the insiders are, who the principals and directors are, how governance is handled, who is responsible, what the business is, what the liabilities are, etc..
    In contrast, most ICOs currently have nebulous governance on purpose: because the operators do not want anyone to be held responsible in case the project is unsuccessful or the coin loses its value.  Caveat emptor is the name of the game.
    Tulip euphoria
    In any given month I am provided inside information about ICOs.  Complete strangers will send me pitch decks that outline their pre-sale and listing opportunities.
    Yes, some exchanges are paid to list these coins, often through a percentage negotiated beforehand with the ICO operator.  And there are market makers and underwriters in the form of family offices, high net worth individuals and small hedge funds.  There is an entire ecosystem that is completely opaque and opaque on purpose because many of these participants are trying to deflect responsibility in case a coin crashes or a project is unsuccessful or because they are found in non-compliance with a variety of regulations (e.g., not declaring taxes, self-dealing, insider trading, etc.).
    One project involved in building a distributed computer recently offered me about $50,000 over the course of 6 months in addition to the native coin they were pitching to the public.  All they wanted me to do: act as an advisor and promote their coin on social media.
    I said no to all of them but others said yes and that project above raised a couple million in USD.
    Last week I attended several events including Consensus and a different private conference held later in the week.  I gave a short presentation at one of the events and afterwards I walked to the buffet outside the room to get some food.  While gathering some grilled fish, the audio/visual operator for the event came up to me and told me: “Tim, I just put $100 into bitcoin and also ether.  How much more should I put into them?”
    My presentation wasn’t even about cryptocurrency investing or about ICOs, but this illustrates the exuberance of the current time period.  There is a lot of fear of missing out yet few people are actually looking at what these ICO-funded platforms or projects are attempting to do.  How can unsophisticated, technically unsavvy people learn more about them?
    Media publications?  But conflict of interest is rife.
    I have mentioned this multiple times over the years: unfortunately many “coin” media sites and magazines are not helping the due diligence situation.  Most “coin” reporters, if not all of them, own cryptocurrencies and benefit directly from increased demand of the cryptocurrency, but they often do not disclose it.  In fact, many times they report on coins they own and/or that their parent company owns.  Several small buy-side analysts and their firms also have published uncritical marketing material for cryptocurrencies and some do not disclose their coin holdings or outline the major risks involved in operating these types of networks, in effect white-washing the risks of anarchic chains.
    Others in privileged positions including some of the VCs that are active in this space are now also promoting ICOs but few disclose their active long or short positions.  Some of these VCs were entrepreneurs who have pivoted multiple times and this is a last ditch effort to drum up support for their sagging portfolio. 2 3
    You just don’t understand the technology!
    One common refrain I often hear from ICO promoters is that ICOs are a new form of technology that empowers retail investors like never before and that the traditional world of institutions and laws has no place in the new economy.  And that naysayers and critics just don’t understand the transformative power of ICOs and cryptocurrencies.
    That may be true but in my case, definitely is not.
    In late 2014 I worked with a company called Melotic.  Melotic is a tech startup that raised about $1.2 million in the summer of 2014 to build a digital asset exchange: a trading platform that new cryptocurrency projects could be listed on, GDAX before GDAX.  For about 9 months I spent the bulk of my time talking to dozens of cryptocurrency projects and operators to find out what unique thing their company did and why they should be listed on Melotic.  Nearly all of them were half-baked scams, and others were just impractical (Urea Coin). 4
    In May 2015, Melotic announced it was closing its exchange and moving into cross-border payments where it currently operates under the brand, Kleering.
    While Melotic deserves its own dedicated post, the takeaways we learned at the time were that traders (who were most of the user base) only cared about two specific things:
    (1) Anonymity.  Some traders publicly complained when we implemented a set of KYC and AML policies.  They said we should snub our noses at the government and banks and provide traders the ability to exchange cryptocurrencies without complying with local or national laws surrounding identity gathering and verification.  This is an opinion that is still very prevalent as shown by similar comments on /r/bitcoinmarkets and /r/ethtrader.
    (2) Pump and dump.  Day traders love volatility and cryptocurrencies often provide that volatile environment.  Because new cryptocurrencies such as an ICO are often even more illiquid and thinly traded than say bitcoin (which itself is relatively illiquid), whales and insiders without vesting and lock-up periods can quickly move the market up and down due to the large amounts of coin holdings they have.  This creates the booms and busts that many cryptocurrency traders savor.  Yet at Melotic, we were apprehensive about listing every single cryptocurrency under the sun, and tried to filter those we thought had unique utility and less volatile.  In the end we only listed about 10.  Yet empirically the most successful exchanges – as measured in volume – were those that listed every single coin that was launched.  Quantity over quality continues to persist today as exchanges compete for volume and liquidity of new coins.  This contrasts with regulated exchanges such as NASDAQ (pdf) and NYSE (pdf) which have listing requirements, including transparency into the companies principals.  Most cryptocurrency exchanges do not ask for similar requirements and in fact, some take a cut of the coins – similar to payola – in order to be listed.
    Over two years ago I wrote a post that looked at around 20 different ICOs and projects that did some kind of public coin distribution.  My new paper looks at them in more detail.  What were the findings?
    While we wait for that paper to be published another key takeaway is that: almost none of the projects lived up to the advertised utility or expectations that their promoters marketed to the community and investors that bought their coins.  Yet most of the cryptocurrencies, even ones that lack a real development community, are seeing all-time highs on the cryptocurrency markets.
    In other words: utility is completely divorced from market value of the coins; a phenomenon that seems unlikely to change in the short term.
    This is compounded by the fact that ICOs are by their nature, not designed for cash flow or optimized to be profitable.
    Why is that?  Because at its core: the non-profit entities that runs them are by definition, not-for-profit.  As a result, these projects largely rely on their token holdings and the price appreciation thereof, in order to be sustainable.  Thus the incentive to focus on marketing and create buzz to further increase the price appreciation of the coin holdings.
    And ignoring the informational asymmetries above, there are some other interesting wrinkles.
    Earlier this week I participated on a fintech panel and during the group discussion one specific ICO was briefly mentioned, the Basic Attention Token (BAT).  Brave, the company behind the BAT, had just raised $35 million in a crowdsale (unregistered securities?).  Notable to this sale was that over $6,000 in fees to miners were included in the transactions related to the ICO.
    <script async src='' charset="utf-8"></script>
    How many transactions can you fit into an Ethereum block during high demand times?  It depends on the complexity of the contract. For the BAT, it was about 90.  90ish people were able to participate in the first block of the BAT’s ICO. Those 90 ICO seats went to whoever attached the largest transaction fees.
    An unsavvy retail investor would need a lot of mempool luck if there is high demand and larger players investing millions are paying $1,000 USD fees just to increase their chance to get one of those scarce seats in the first block. This could mean that in the long run, all the “good” ICOs will be bought up by sophisticated investors aware of this limitation and only sub-par ICOs will run long enough (more than one block) to let unsophisticated retail investors in.5

    ICO organizers often exchange coins for explicit support by outside endorsements and lobbying in their favor (e.g., advisors and influential personas are given a cut of coins). Therefore researchers, regulators, developers and potential investors looking at an ICO should look for paper trails to identify investors, users, organizers, insiders, and potential malicious actors.6  This also includes exchange operators and their principals who may learn weeks beforehand when a cryptocurrency will get listed and thus, may have material, asymmetric information they can act on.
    Investors should look very hard at what the risks and recourse there is in the event of a hard fork, what happens if their assets end up on a deprecated chain?  If it is an ERC20 token, what fork will the developers consider the “legitimate” chain?  Ethereum forked multiple times last year and currently, investors of ICOs based on ERC20 have few, if any, protections or recourse in the event an ICO organizer fails to deliver its promises let alone a technical problem occurs.  For instance, what happens if the network becomes too top heavy and open to the Hold-Up Problem?  Who has legal standing or recourse?
    ICOs can be done with existing technology – no blockchains are needed (just ask Beenz and Liberty Reserve) – yet because ICOs are being done on anarchic blockchains where reversibility is economically cumbersome and identification is non-existence, it can create new risks and challenges for investors.  Potential investors need to be able to answer: in case a dispute arises, how can recourse take place if key counterparties are not identifiable?
    Cryptocurrencies and the coins that piggy back on their network will likely continue to exist so as long as these non-profit entities have enough coins to liquidate to pay for marketing and advertisements. And so as long as there are others willing to buy their coins (e.g., liquidity).
    And while it may be too early to distinguish and separate the specific ICOs that are outright scams from poorly run companies, keep in mind that a couple dozen Pyramid schemes failing in 1997 led to massive unrest and a civil war in Albania.  We have already witnessed enormous strain and virtual fighting within the cryptocurrency community (e.g., the never ending Bitcoin block size debate and the Ethereum hard fork because of The DAO attack).  What would happen to the aggregate cryptocurrency market if the investors and insiders in a couple dozen ICO platforms (Pyramid or not) tried to liquidate their holdings onto an illiquid market?
    If you’re looking for dramatic excitement (currently) without many investor protections, the ICO world may have what you’re looking for.  But if you’re looking for sustainable operations with repeat revenue and cash flow connected to mainstream utility and accountability – aka a business – then you might want to do a double-take.
    See also:
    1. “How the ICO, OCO, and ECO ecosystem works at a high level” by Tim Swanson
    2. Kik, a messaging application which failed to gain traction, announced it would be issuing a cryptocurrency, but for what purpose?  Likely because it has been unable to raise new venture or institutional capital.
    3. A number of these portfolio companies likely are on life support, propped up not by revenue but coin holdings which speculators have driven up in market value.  In short: some of these cryptocurrency-based startups are commodity or FX plays, not utility-based investments.
    4. We also spoke with a lot of cryptocurrency exchanges to learn about their business and compliance practices, shying away from those that raised red flags around KYC and AML compliance.  One cryptocurrency exchange that is still very active today asked us to do the KYC for them as they were ideologically against gathering that information from their own customers.
    5. Note: this is not an endorsement of BAT.  I have not participated in any ICO or cryptocurrency crowdsale.
    6. Some ICO organizers have intentionally misled financial institutions about the nature of their business in order to get a bank account. Because ICOs typically do not comply with KYC, AML, and CFT procedures, this could lead to new fines and even banks being de-banked (correspondent banking access cut off).
    Send to Kindle
    Read more Tim Swanson
  • Here's why regulators need to get serious about bitcoin, par Maria Terekhova, 2 June 2017

    Friday 2 June 2017 :: Business Insider: Bitcoin :: RSS
    Price of Bitcoin

    This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.
    As bitcoin's price skyrockets and popular demand increases, some of the world's largest wealth managers have started giving their clients the opportunity to invest in the digital asset.
    Last week, Boston-based Fidelity facilitated investor access to the asset, and on Thursday, UK-based Hargreaves Lansdown followed suit.
    Hargreaves Lansdown now gives clients the option to invest in an exchange traded note (ETN) that tracks the price of bitcoin. An ETN is an investment instrument typically listed on a major stock exchange that can be bought and sold similarly to a stock. As more well-known wealth firms give their clients access to bitcoin investment, interest in the asset by mainstream investors will undoubtedly rise. However, these firms also risk exposing consumers to the dangers associated with unresolved regulatory issues around bitcoin.
    Bitcoin still exists in a regulatory gray zone, which makes it different from most other asset classes. Mainstream asset classes include securities such as stocks or bonds and tangible assets like art. The former typically have dedicated regulators — like the SEC in the US, while investment in the latter results in the ownership of a physical product. And in both cases, investors are clear about what they're acquiring. However, in most jurisdictions, bitcoin is legally neither a security nor a tangible asset, and therefore does not fall neatly under any regulator's mandate. At the same time, most mainstream investors don't have a clear idea of the asset's nature. This ambiguity, compounded by bitcoin's relative novelty, arguably means that bitcoin investments are a special case and should be treated as such by existing financial regulators. Otherwise, it will remain unclear which regulators are responsible for consumer protections regarding the asset, putting investor capital at risk.
    The onus is on regulators to classify bitcoin and increase emphasis on customer education. At the moment, only a few countries' regulators are making serious attempts to establish clear legal frameworks to define and regulate bitcoin — and among those who have started, the approaches are very different. As such, regulators should start coordinating with each other to come up with an unambiguous status for the asset that clarifies under which regulators' mandates it should fall. Moreover, regulators should consider devoting the same attention to enforcing customer education among incumbent wealth managers as they have been to the marketplace lending industry.
    Nearly every global bank is experimenting with blockchain technology as they try to unleash the cost savings and operational efficiencies it promises to deliver. 
    Banks are exploring the technology in a number of ways, including through partnerships with fintechs, membership in global consortia, and via the building of their own in-house solutions. 
    Sarah Kocianski, senior research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on blockchain in banking that outlines why and in what ways banks are exploring blockchain technology, provides details on three major banks' blockchain efforts based on in-depth interviews, and highlights other notable blockchain-based experiments underway by global banks. It also discusses the likely trends that will emerge in the technology over the next several years, and the factors that will be critical to the success of banks implementing blockchain-based solutions.
    Here are some of the key takeaways from the report:
    • Most banks are exploring the use of blockchain technology in order to streamline processes and cut costs. However, they are also looking to leverage additional advantages, including increased competitiveness with fintechs, and the ability to use the technology to create new business models. 
    • Banks are starting to narrow their focus, and are increasingly honing in on tangible use cases for blockchain technology that solve real problems faced by their businesses. 
    • Regulators are taking an increased interest in blockchain technology, and they're working alongside major banks to develop regulatory frameworks. 
    • Blockchain-based solutions will start to emerge in different areas of financial services. The most successful solutions will solve specific problems for banks and attract a large enough network to create widespread benefits. 

     In full, the report:
    • Outlines banks' experiments with blockchain technology. 
    • Details blockchain projects at three major banks — UBS, Credit Suisse, and Banco Santander — based on in-depth interviews. 
    • Discusses the likely trends that will emerge in the technology over the next several years.
    • Highlights the factors that will be critical to the success of banks implementing blockchain-based solutions.

    Interested in getting the full report? Here are two ways to access it:
    1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> START A MEMBERSHIP
    2. Purchase & download the full report from our research store. >> BUY THE REPORT

    Join the conversation about this story » Read more Maria Terekhova
  • michagogo's gitian sigs for 0.14.2rc1, par Michagogo, 2 June 2017

    Friday 2 June 2017 :: Commits to gitian.sigs:master :: RSS
    michagogo's gitian sigs for 0.14.2rc1
    Read more Michagogo
  • Pro-Bitcoin Flavours Place Platform Strengthens Support to Businesses and Coffee Farmers Worldwide, 2 June 2017

    Friday 2 June 2017 :: Alltop RSS :: RSS
    Bitcoin Press Release: Bitcoin-friendly online coffee marketplace, Flavours Place upgrades its platform to assist small coffee businesses, sellers, farmers, and roasters worldwide. June 2, 2017, Kowloon, Hong Kong – Flavours Place, the online marketplace selling a wide variety of coffee and tea collections otherwise unavailable in the market has made few changes to its platform. [...]
    The post Pro-Bitcoin Flavours Place Platform Strengthens Support to Businesses and Coffee Farmers Worldwide appeared first on Bitcoin PR Buzz. Read more
  • Pro-Bitcoin Flavours Place Platform Strengthens Support to Businesses and Coffee Farmers Worldwide, 2 June 2017

    Friday 2 June 2017 :: Alltop - bitcoin :: RSS
    Bitcoin Press Release: Bitcoin-friendly online coffee marketplace, Flavours Place upgrades its platform to assist small coffee businesses, sellers, farmers, and roasters worldwide. June 2, 2017, Kowloon, Hong Kong – Flavours Place, the online marketplace selling a wide variety of coffee and tea collections otherwise unavailable in the market has made few changes to its platform. [...]
    The post Pro-Bitcoin Flavours Place Platform Strengthens Support to Businesses and Coffee Farmers Worldwide appeared first on Bitcoin PR Buzz. Read more
  • International payments and the need for a dedicated regulator, 2 June 2017

    Friday 2 June 2017 :: Finextra Research Payments channel :: RSS
    Most international payments providers exist as an alternative to high street banks. They provide the... Read more
  • Projecting the Price of Bitcoin, par Cheery, 2 June 2017

    Friday 2 June 2017 :: Silver For The People - The Blog » bitcoin :: RSS / CHARLES HUGH SMITH / THURSDAY, JUNE 01, 2017
    The wild card in cryptocurrencies is the role of Big Institutional Money.
    I’ve taken the liberty of preparing a projection of bitcoin’s price action going forward:
    You see the primary dynamic is continued skepticism from the mainstream, which owns essentially no cryptocurrency and conventionally views bitcoin and its peers as fads, scams and bubbles that will soon pop as price crashes back to near-zero.
    Skepticism is always a wise default position to start one’s inquiry, but if no knowledge is being acquired, skepticism quickly morphs into stubborn ignorance.

    The post Projecting the Price of Bitcoin appeared first on Silver For The People. Read more Cheery
  • The nuclear launch button won't be pressed by a finger but by a bot, par Alistair Dabbs, 2 June 2017

    Friday 2 June 2017 :: The Register :Bitcoins :: RSS

    Something for the Weekend, Sir? Pay me $500 in Bitcoin or... oh look, everyone's dead

    Nothing could hurry Cool Dave. Tall and taciturn, he would make his way around school between classes at his own pace. When he talked, he not so much spoke as delivered a quiet soliloquy in a thoughtful and deliberate manner. Read more Alistair Dabbs
  • gmaxwell commented on pull request bitcoin/bitcoin#10503, par gmaxwell, 2 June 2017

    Friday 2 June 2017 :: gmaxwell’s Activity :: RSS
    Jun 2, 2017 gmaxwell commented on pull request bitcoin/bitcoin#10503 Needs rebase. Read more gmaxwell
  • gmaxwell commented on pull request bitcoin/bitcoin#10148, par gmaxwell, 2 June 2017

    Friday 2 June 2017 :: gmaxwell’s Activity :: RSS
    Jun 2, 2017 gmaxwell commented on pull request bitcoin/bitcoin#10148 @TheBlueMatt you didn't want to finish a review of this before until after the per-txo changes happened. They've happened. Time to turn over your s… Read more gmaxwell
  • Fifteen startups selected for EBAday Fintech Pavillion, 2 June 2017

    Friday 2 June 2017 :: Finextra Research Payments channel :: RSS
    Finextra and the Euro Banking Association have selected 15 of Europe's most promising startups to pr... Read more
  • gmaxwell commented on pull request bitcoin/bitcoin#10148, par gmaxwell, 2 June 2017

    Friday 2 June 2017 :: gmaxwell’s Activity :: RSS
    Jun 1, 2017 gmaxwell commented on pull request bitcoin/bitcoin#10148 @sipa Needs rebase! Read more gmaxwell
  • Here are 3 things you should do if you want to start buying bitcoin, par Tama Churchouse, 2 June 2017

    Friday 2 June 2017 :: Business Insider: Bitcoin :: RSS
    We’ve received a lot of feedback from our last few write-ups on the bitcoin and cryptocurrency market.
    And because a many readers have said they are going to roll up their sleeves and enter the market themselves, we thought we’d offer three simple pieces of advice to bitcoin beginners.

    Start small

    Speaking from personal experience, I highly recommend that folks looking to buy some bitcoin start with an extremely small amount… no more than a bitcoins worth, which today is the equivalent of a couple thousand U.S. dollars. (You can use less money and buy a fraction of a bitcoin also if you prefer).
    The process of buying, moving and storing bitcoin is not like traditional online banking or investing. If you send bitcoin to the wrong location, for example, you can’t just call up your bank and cancel your transaction. So it’s critical to familiarise yourself with the mechanics of buying and moving bitcoin around first with a relatively small sum, before moving on to larger dollar amounts.

    Write everything down

    It’s ironic that whilst bitcoin is a highly modern technology, you must make sure you keep ‘offline’ records of all your bitcoin information. That means a pen and paper, or at least using a Microsoft word document and printing it out as a back up.
    Storing and sending/receiving bitcoin involves setting up a digital wallet. This is a where you ‘keep’ your bitcoin.
    Your wallet has a public key (which might look a bit like this: 1GwV7fPX97hmavc6iNrUZUogmjpLPrPFoE) which is where the bitcoin gets sent to. This is like an account name.
    Your wallet also has a private key. This will either be an alpha-numeric sequence that looks like the public key above, or a long sequence of random words generated by the wallet. This is the ‘password’ you use to access your wallet.
    Either way, secure wallets do not have an ‘I forgot my password’ option.
    If you lose or forget your private key, you lose access to your wallet. And you lose your investment. Period.
    I write everything down, and I print out screen grabs (that is, printouts of what is shown on the screen).

    Don’t leave money at the exchange

    In order to convert your cash into bitcoin, you need to open an account with an exchange.
    This process will typically take a few days as the exchange will need to conduct KYC (know your customer) diligence on you. This means they’ll do a standard identity verification so the exchange knows who you are, and that you’re not a wanted criminal.
    Once you’ve opened the account, you’ll be able to fund it with a bank transfer — or by credit card in some cases — before you buy bitcoin.
    If the exchange where you bought bitcoin (and left it there) gets hacked ,then you can lose your money. This has happened in a couple of high-profile cases.
    For example, in 2014 bitcoin exchange Mt. Gox, which at the time was handling up to 70% of all bitcoin volume, filed for bankruptcy, saying that 750,000 of customer bitcoin was missing. That’s US$1.5 billion-worth at today’s prices.
    The safest place to store your bitcoin is in a wallet. There’s a good selection to choose from here.
    Good investing,
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