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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

Ransomware Becomes Go-To Hack as Bitcoin Rallies, NSA Tools Leak - Bloomberg


Bloomberg

Ransomware Becomes Go-To Hack as Bitcoin Rallies, NSA Tools Leak
Bloomberg
A recent outbreak of ransomware attacks, from the WannaCry worm in May to Tuesday's infection of thousands of computer systems around the globe, shows that digital stickups are becoming the go-to hack for cybercriminals, fueled by powerful leaked U.S. ...
Petya Ransomware Outbreak Is Extorting Bitcoin and Spreading WorldwideCryptoCoinsNews
WannaCry Some More? Petya Bitcoin Ransomware AttacksCoinTelegraph
Today's huge ransomware attack has only made about $7500 so farTechCrunch
Security Intelligence (blog) -Finance Magnates -Washington Post -The Verge
all 521 news articles »

Posted on 27 June 2017 | 4:18 pm

Bitcoin exchange operator tied to hacks gets five-and-a-half years US prison - Reuters


Reuters

Bitcoin exchange operator tied to hacks gets five-and-a-half years US prison
Reuters
Murgio and co-conspirators were accused of processing millions of dollars from 2013 to 2015 into the virtual currency bitcoin through the unlicensed exchange Coin.mx. Prosecutors said many transactions were conducted by victims of ransomware, ...
See you in 2023 – Bitcoin exchange Coin.mx bigwig gets 66 months in the slammerThe Register
Bitcoin Exchange Operator Sentenced to Five-and-a-Half Years in PrisonCoinDesk
Florida Bitcoin Processing Boss Gets 5 1/2 Years in PrisonU.S. News & World Report

all 11 news articles »

Posted on 27 June 2017 | 12:10 pm

Fanciful Bitcoin Banknotes Show How Digital Currency Might Look in the Real World - NBCNews.com


NBCNews.com

Fanciful Bitcoin Banknotes Show How Digital Currency Might Look in the Real World
NBCNews.com
Bitcoin isn't like traditional currencies, and not just because it doesn't exist as actual coins or paper banknotes. Unlike traditional currencies like the dollar or euro, Bitcoin isn't controlled by a single government or central bank. Instead, every ...

Posted on 27 June 2017 | 12:08 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

Indian States Look to Launch Blockchain Land Registry Efforts

New details have emerged about some of the blockchain applications being pursed by state governments in India.

Source

Posted on 27 June 2017 | 10:20 am

Bitcoin Development Similar to 1800s Gold Rush: Expert - CoinTelegraph


CoinTelegraph

Bitcoin Development Similar to 1800s Gold Rush: Expert
CoinTelegraph
Present day Bitcoin and altcoin development appear to be recounting a theory that played out in the early mining industry. As was the pattern during the actual gold rush of the 1800s, while some people took the risk and spent their time looking for ...

Posted on 27 June 2017 | 9:28 am

China's Central Bank Vows to Push for Blockchain in Five-Year Plan

The People's Bank of China has indicated it intends to support the continued development of blockchain tech as part of a new strategic plan.

Source

Posted on 27 June 2017 | 8:45 am

The Risks of Segregated Witness: Possible Problems Under US Contract Law

Jimmy Nguyen of nChain provides an opinion on possible legal issues with the SegWit scaling proposal should it activate on bitcoin's network.

Source

Posted on 27 June 2017 | 7:00 am

Hyperledger Fabric Blockchain Publishes Software Release Candidate

The developers behind the open-source Hyperledger Fabric blockchain project have issued the software's first official release candidate.

Source

Posted on 27 June 2017 | 6:05 am

Would you give bitcoin as a wedding gift? - MarketWatch


MarketWatch

Would you give bitcoin as a wedding gift?
MarketWatch
While people are giving bitcoin, there hasn't been a tipping point. Honeyfund, a honeymoon registry that allows guests to give cash rather than gifts, has seen more than a dozen customers donate in bitcoin, said chief executive officer and co-founder ...

Posted on 27 June 2017 | 5:24 am

Financial Stability Board: Blockchain Could Raise Cross-Border Data Issues

The Financial Stability Board has published a new report on fintech raising questions about data privacy and smart contracts.

Source

Posted on 27 June 2017 | 4:30 am

Bitcoin Scaling: SegWit Passes Emergent Consensus At Last - CoinTelegraph


CoinTelegraph

Bitcoin Scaling: SegWit Passes Emergent Consensus At Last
CoinTelegraph
Bitcoin miners are now signaling more commonly than ever for Segregated Witness than Emergent Consensus. For the first time, SegWit miner support inched ...
Op-Ed: SegWit is the Future, Garnering Bitcoin's Elusive Emergent ...CryptoCoinsNews
The Risks of Segregated Witness: Possible Problems Under US ...CoinDesk

all 5 news articles »

Posted on 27 June 2017 | 4:20 am

Blockchain Payments Startup Veem Integrates with Intuit QuickBooks

Blockchain payments startup Veem has inked a new partnership with accounting software provider Intuit.

Source

Posted on 27 June 2017 | 3:01 am

European Banks Select IBM Blockchain for Small Business Trade Finance

IBM has been chosen by Digital Trade Chain, a consortium of major European banks, to build a new blockchain platform for SMEs.

Source

Posted on 26 June 2017 | 4:08 pm

Bitcoin Price Analysis: Bear Run Shows No Decrease in Momentum

Bitcoin Price Analysis

Over the weekend, BTC-USD market cap dropped from $45 billion to a current (and still falling) market cap of $39 billion. BTC-USD brought the entire crypto market to a screeching halt as traders continued to see devaluations in nearly every tradable coin on the market. So, let’s take a look at what has happened and see just how bad this dive will be for BTC-USD and the other cryptocurrencies.

On a macro scale, BTC-USD has been in the process of making a massive Head-and-Shoulders (H&S) pattern on the 6-hour candles:

BTC Macro HS.png

Figure 1: BTC-USD, 6HR Candles, GDAX

Head and Shoulders are common, highly predictable market reversal patterns. They have well-defined criteria for price movement and price projections once the pattern breaks to the bottom. A H&S pattern is characterized by the following, illustrated above:

  1. There is typically an ascending trend line;

  2. A left shoulder that is smaller than a central peak (head) and a right shoulder that is smaller than the central peak;

  3. The two shoulders are connected by the “Neck Line” of the Head and Shoulders.

  4. There is first a test of the ascending trendline. A test and rejection of the ascending trend line’s support will bring us to the test of the neck line.

  5. A test of the neck line is usually the ultimate deciding condition for whether or not the pattern will continue downward.

At the time of this article, BTC-USD has broken the ascending trend line and is in the process of testing the Neck Line of the H&S pattern. If condition #5 is broken, the price projections are calculated in the figure below:

BTC Macro HS Price Target.png

Figure 2: BTC-USD, 6HR Candles, GDAX, Price Target for Head and Shoulders

Price targets are not guarantees of price movement. Rather, a price target should be used as more of a target “zone” rather than a discrete point in the price-space. In our case, BTC-USD happens to have a price target with a very reliable, major support line in the $1800s. Whether BTC-USD drops that far down remains to be seen. However, it is important to note the following in the figure below:

BTC Macro HS no volume.png

Figure 3: BTC-USD, 6HR Candles, GDAX, Steady Downward Momentum

  1. The momentum indicators, RSI and MACD, are showing no sign of downward momentum loss;

  2. The steady downward momentum is coupled with very little relative buy-back volume.

During previous bearish periods, there was a significant increase in buy volume. However, something we are not seeing in this current bear run is a volume increase. The market could reverse at any point (after all this is crypto!), but on all major long-term scales, the momentum indicators show no sign of slowing down.

If we break the Neck Line of the Head and Shoulders, below are the major support lines you can expect BTC-USD to rest on during its downward spiral:

BTC Macro HS Fib Lines.png

Figure 4: BTC-USD, 6HR Candles, GDAX, Fibonacci Retracement Levels

At the time of this article, the market is testing the 38% Fibonacci Retracement Level, but the market doesn’t appear to be interested in buying at these values. If the BTC markets don’t see an increase in volume, BTC-USD will continue to hemorrhage in value — as will the entire crypto-market.

Summary:
  1. BTC-USD completed a Head and Shoulders pattern that brought the entire crypto-market into a Bear Market.

  2. Current price projection based on Fibonacci Levels and Head and Shoulders price target has BTC-USD on a course for the $1800s.

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: Bear Run Shows No Decrease in Momentum appeared first on Bitcoin Magazine.

Posted on 26 June 2017 | 4:01 pm

What Is Bitcoin's Elusive Intrinsic Value? - Forbes - Forbes


Forbes

What Is Bitcoin's Elusive Intrinsic Value? - Forbes
Forbes
Never before in the history of commerce has a speculative bubble developed around an asset that had no clear intrinsic value. Even tulips – the very symbol of a ...

and more »

Posted on 26 June 2017 | 3:24 pm

Crypto Correction: Bitcoin and Ether Dive as Market Sheds $13 Billion

Cryptocurrencies suffered widespread losses on Monday as traders took profits and rebalanced their portfolios.

Source

Posted on 26 June 2017 | 2:48 pm

Blockchain Research Lab to Combat Financial Fraud in Shenzhen

A group of universities in China are teaming up to research blockchain technology and its potential impact on financial fraud.

Source

Posted on 26 June 2017 | 2:25 pm

Proof-of-Life: Vitalik Buterin Uses Ethereum to Disprove Death Hoax

Ethereum creator Vitalik Buterin was at the center of a debunked story suggesting that he had died this weekend.

Source

Posted on 26 June 2017 | 10:25 am

Barclays Pitches UK Finance Regulator on Cryptocurrencies

UK banking giant Barclays is reportedly helping to educate regulators on blockchain and cryptocurrencies.

Source

Posted on 26 June 2017 | 9:25 am

The US Navy Wants to Connect Its 3-D Printers with a Blockchain

The US Navy will run a blockchain trial this summer – a test largely aimed to boost the security of its manufacturing systems.

Source

Posted on 26 June 2017 | 7:15 am

Bank of China, Tencent to Trial Blockchain in New Research Effort

The Bank of China is partnering with Tencent, one of the country's biggest internet companies, to trial blockchain tech in financial applications.

Source

Posted on 26 June 2017 | 6:30 am

Bitcoin is tumbling - Business Insider


Business Insider

Bitcoin is tumbling
Business Insider
It's a rough start to the week for bitcoin. The cryptocurrency trades down 10.11% on Monday, at $2,275 a coin, a one-week low. The action seems to be a continuation of the selling that developed on Wednesday, when rival Ethereum flash-crashed from $296 ...
How The Bitcoin Revolution Will Affect EntrepreneursForbes
Bitcoin Price, ExplainedCoinTelegraph
Why a Respected CEO Believes “Bitcoin Is a Tool for Freeing Humanity”Futurism
Investopedia -newsBTC -Inc42 Media
all 71 news articles »

Posted on 26 June 2017 | 5:42 am

Counting Chickens: Can Blockchain Restore Trust in China's Food Supply?

A new Chinese food-tracking initiative hints at the power of blockchain to improve society's deeper issues.

Source

Posted on 26 June 2017 | 5:03 am

Antshares Rebrands, Introduces NEO and the New Smart Economy

NEO-Beijing.jpg

At a gathering at the Microsoft headquarters in Beijing on Thursday, with about 200 people in attendance, Antshares, the first open-source blockchain platform developed in China, announced a complete rebranding of its blockchain solution, as well as a number of other developments detailing their ambitious plans forward.

One of the revelations was the platform’s new name and brand, NEO, which in Greek means newness, novelty and youth. The developers also highlighted the strengths of their advanced smart contract code, which will support decentralized commerce, digital identities and the digitization of many different assets. This rebranding of Antshares represents a new direction for the development of China's blockchain community.

Currently, holders of ANS can now automatically generate Antcoins (ANC) in their Antshares wallets, which will be used as gas on the platform. The ANS asset symbol will become NEO in the 3rd quarter of 2017; meanwhile, the NEO team is working on new clients and a UI for the new NEO brand.

Throughout the day, there were presentations from participants including Microsoft representatives, NEO platform developers, and founders of partner platforms. Among the select attendees were several major potential investors, industry experts and blockchain enthusiasts, as well as members of the Chinese financial and mainstream media.

Presenters at the conference included: 

Da Hongfei, founder of NEO

After announcing NEO’s new brand and strategy, Da Hongfei elaborated on the future of blockchain technology, where every asset will be digitized and programmable with smart contracts. Calling for the transparency and openness of data, he introduced concepts of the “Smart Economy” and new smart contract system, and announced that he is building a new multi-chain protocol for interoperability.

Da Hongfei’s top revelations at the conference were that:

  • NEO is collaborating with certificate authorities in China to map real-world assets using smart contracts;

  • NEO has received a new patent for cross-chain distributed interoperability;

  • NEO’s recent new startup partners include Bancor, Agrello, Coindash, Nest Fund, and Binance, with more partner announcements to come.

Erik Zhang, Core Developer of NEO

In his presentation, Erik Zhang discussed the evolution of Smart Contracts 2.0, and explained the main differences between NEO and Ethereum. One big contrast of these competing platforms is their programming languages. Ethereum requires developers to learn to program with Solidity. Neo, on the other hand, will support almost all programming languages via a compiler, including those on Microsoft.net, Java, Kotlin, Go and Python, greatly lowering the difficulty for developers to write smart contracts. By making its programming languages more inclusive, NEO hopes to attract a larger community of developers. Zhang also explained the mechanics of the NEO Virtual Machine, its execution engine and interoperability.  

图片包含 屏幕截图

已生成极高可信度的说明

Slide Of The NEO Virtual Machine

Tony Tao, CEO of NEO and Founder of Nest Fund

Based on the concept of Ethereum’s The DAO, a blockchain-based investment fund, Tony Tao is about to release a whitepaper for a similar project. Called Nest Fund, and built on NEO’s blockchain, this fund will make improvements on the failures of The DAO. By offering a global bounty reward for any hacker who finds bugs, Nest will be audited by a worldwide peer review, and will then release its token for decentralized investing.

Srikanth Raju, Microsoft’s G.M of Developer Experience and Evangelism for the Greater China Region 

According to Mr. Raju, blockchain technology will lead us into a new digital age, displacing traditional businesses and middlemen throughout many industries. He said that Onchain (the company that founded NEO) is “one of the top 50 startup companies in China”, and offered his support for their endeavors going forward.

 Mr. Han Feng, Tsinghua University I-Center 

Fostering innovation and entrepreneurship at the top university in China, Tsinghua University’s I-Center focuses on the large-scale integration of technology resources. Speaking for the university’s growing interest in supporting blockchain technology, Mr. Han Feng said that current systems of commerce are “outdated and insecure,” and that the internet is ready for an upgrade to a blockchain-based operating system. Calling for a fully-automated, blockchain-based, decentralized economy, he said we can expect a digital revolution in the years to come. This will include digital currency, decentralized storage, secure smart contract codes, IoT, AI, and many more innovations.

 Chen Cheng Qiang, founder and CEO of Innospace

Located in Shanghai, Innospace is a business incubation company, with office spaces, meeting spaces, cafes and living spaces. At today’s conference, Innospace CEO Chen Cheng Qiang announced a ¥200 million CNY ($29.3 million USD) incubation fund, a collaboration between his company and the NEO blockchain team. Plans for the fund include the establishment of a new blockchain space in Shanghai, combining working spaces, startup incubation and acceleration services. According to Mr. Qiang, his company plans to provide the most successful entrepreneurship acceleration services in China.

 Alex Norta, founder of Agrello

Coming all the way from Estonia, Alex Norta announced that his startup Agrello will be partnering with NEO to develop smart contracts for automation, self-execution, accuracy and transparency. Powered by AI, Agrello will be a platform for non-programmers to create their own legally binding blockchain-based smart contracts. Use cases for Agrello’s tech include renting and sharing, freelance contracting, orchestrating production flows, and reducing administration costs for multinational corporations.

Adam Efrima, COO of Coindash

With offices in Israel and Shanghai, Coindash will be a social trading platform for crypto assets, offering portfolio management tools for digital asset investors. Features of the platform will include portfolio statistics and management tools, investment automation, an ICO dashboard, and insights into other traders’ successful investing strategies. In the upcoming development of Nest Fund, a blockchain-based smart fund by the developers of NEO, Coindash will offer advisory and prediction tools for Nest’s modern investors.

Mr. Zhao Chang Peng, CEO of Binance 

The former CTO of OkCoin, Mr. Zhao Chang Peng is starting his own digital asset exchange, hoping to compete with platforms like Poloniex. Calling his new platform Binance, this new exchange will only deal in coin-to-coin transactions, avoiding fiat pairs and therefore avoiding Chinese regulations. In order to maintain a standard in mature digital assets, Binance will only list coins that meet its strict criteria. With a launch planned for later this year, the platform’s first traded assets will be bitcoin, ether and NEO. 


From the looks, sounds, and energy of the event, NEO has built up some strong momentum going forward. They have one the top blockchain development teams in all of China, with 50 million ANS ($325 million) to support their funding needs and a growing list of partners now aligning by their side. While it may take some time to steal the spotlight from Ethereum, we are sure to see more from this platform in the months to come.  

The post Antshares Rebrands, Introduces NEO and the New Smart Economy appeared first on Bitcoin Magazine.

Posted on 22 June 2017 | 7:28 pm

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

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June 27, 2017 -
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