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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

Bitcoin Miners are Rejecting Segwit For Non-Technical Reasons - The Merkle


The Merkle

Bitcoin Miners are Rejecting Segwit For Non-Technical Reasons
The Merkle
It has become evident that miners are not opposed to the Bitcoin Core development team's transaction malleability fix Segregated Witness (Segwit) given the overwhelming support towards Segwit2x, a proposal made by Barry Silbert-led Digital Currency ...

Posted on 25 June 2017 | 12:12 pm

6 Factors Pushing Bitcoin Prices Higher in 2017 - CryptoCoinsNews


newsBTC

6 Factors Pushing Bitcoin Prices Higher in 2017
CryptoCoinsNews
Earlier this year, Japan announced that as of 1 April 2017, the country would recognise bitcoin as legal tender and make the provisions for administrative and accounting systems to be enhanced for cryptocurrency transactions to take place seamlessly.
Will Amazon Finally Fold to Demands and Accept Bitcoin?newsBTC

all 3 news articles »

Posted on 25 June 2017 | 10:44 am

High Schooler Becomes Millionaire Thanks to Bitcoin - CoinTelegraph


CoinTelegraph

High Schooler Becomes Millionaire Thanks to Bitcoin
CoinTelegraph
The rags-to-riches stories about Bitcoin investors are a consistent theme with the rise in the value of Bitcoin over the past six months. The most recent is Erik Finman, who invested $1,000 in Bitcoin in 2011 when it was valued at $12. His parents had ...
Idaho teenager becomes millionaire by investing $1000 gift in Bitcoin - and wins bet with his parentsTelegraph.co.uk
High School Dropout Invested In Bitcoin At 12 And Became A Millionaire By 18 [So He Doesn't Have To Go To College]MobiPicker

all 4 news articles »

Posted on 25 June 2017 | 10:08 am

EOS: Unpacking the Big Promises Behind a Possible Blockchain Contender

Dan Larimer says his new project has an infinitely scalable blockchain, but skeptics doubt the controversial figure's ability to pull it off.

Source

Posted on 25 June 2017 | 6:22 am

Why AI Hedge Fund Moved From Bitcoin to Ethereum Network - CoinTelegraph


CoinTelegraph

Why AI Hedge Fund Moved From Bitcoin to Ethereum Network
CoinTelegraph
Since February, Numerai has incentivized more than $200,000 to its data scientists in Bitcoin. However, because the Numeraire token and its smart contract are launched on top of the Ethereum network, the hedge fund struggled to create a practical and ...

Posted on 25 June 2017 | 5:49 am

Is Bitcoin in a Bubble? - DailyForex.com


DailyForex.com

Is Bitcoin in a Bubble?
DailyForex.com
As the crypto-currency Bitcoin reaches spectacular new highs on dramatically increased levels of volatility, traders and investors alike are questioning whether it's a good idea to trade this asset or whether now is the time to stay to the side before ...
Bitcoin: Yes, It's A Bubble And It's About To BurstInvesting.com
Last Stage of Bitcoin Bubble Yet to Occur, Says Economic ProfessorCryptoCoinsNews

all 3 news articles »

Posted on 25 June 2017 | 3:43 am

How to buy Bitcoin in seconds from your smartphone - CNBC


CNBC

How to buy Bitcoin in seconds from your smartphone
CNBC
Before you do this, though, you should note that bitcoin isn't universally accepted like regular currency. My colleague Seema Mody published a great video recently where she tried to live a week on the currency, and it wasn't easy. You can use bitcoin ...

and more »

Posted on 24 June 2017 | 7:46 am

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Changing Exchanges: Will the Coinbase of Tomorrow Be Decentralized?

A new wave of decentralized cryptocurrency exchanges that exist almost entirely on a blockchain could do away with middlemen.

Source

Posted on 24 June 2017 | 3:03 am

Bitcoin speculators are the new day traders - CNBC


CNBC

Bitcoin speculators are the new day traders
CNBC
Bitcoin has more than doubled in value this year, and other digital currencies have also soared. While U.S. stocks churn near record highs, some analysts worry markets may be too ambivalent about speculation in other assets. Bitcoin wealth is also ...

Posted on 23 June 2017 | 1:43 pm

OneCoin 'License' is a Fake, Says Vietnamese Government

OneCoin doesn't have a license to operate in Vietnam despite claims to the contrary, the government said this week.

Source

Posted on 23 June 2017 | 1:25 pm

Top Secret? Bitcoin Scaling Plan Segwit2x Leaves More Questions Than Answers

While SegWit2x has significant support, according to some in the bitcoin community, the group is closing off software development to outsiders.

Source

Posted on 23 June 2017 | 11:20 am

UN Sees Possible Role for Blockchain in Advancing Paris Climate Accord

The United Nations is eyeing blockchain as part of its fight against climate change.

Source

Posted on 23 June 2017 | 9:20 am

Coin Center: US Senate's Digital Currency Bill Is 'Counterproductive'

US advocacy group Coin Center has said that an anti-money laundering bill before the Senate could disrupt existing rules for digital currency firms.

Source

Posted on 23 June 2017 | 7:00 am

Ukrainian Government to Start Blockchain Land Registry Trial in October

The Ukraine government has revealed plans to trial a land registry system underpinned by blockchain technology.

Source

Posted on 23 June 2017 | 5:00 am

Cryptocurrency: How We Hook the Masses

Could cryptocurrency rewards demonstrate the value of the technology and ultimately help bring mass adoption? Jaywalk CEO Rich Svinkin believes so.

Source

Posted on 23 June 2017 | 4:00 am

Too Many Cryptocurrencies? Huobi Launches Quantitative Model for Investors

A major China-based exchange has launched a new quantitative analysis tool designed to help traders make long-term cryptocurrency investments.

Source

Posted on 23 June 2017 | 3:00 am

The Bitcoin Bubble Will Turn Into Mania Before It Bursts - Forbes


Forbes

The Bitcoin Bubble Will Turn Into Mania Before It Bursts
Forbes
For the last nine months, the Bitcoin rally that took the digital currency from a few hundred dollars to close to $3000 had all the elements of a bubble that has yet to turn into a mania before it bursts. Every asset bubble is different, and can be ...

Posted on 22 June 2017 | 11:31 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

Coinbase Appeals Decision in Cryptsy Collapse Lawsuit

Coinbase is appealing a court decision from earlier this month in a lawsuit filed on behalf of customers of Cryptsy.

Source

Posted on 22 June 2017 | 10:35 am

Illicit Cryptocurrency Use Targeted in Proposed 2018 FBI Budget

Cryptocurrency is being cited by the FBI as a reason it needs to increase its spending in an effort to combat more advanced cybercrime.

Source

Posted on 22 June 2017 | 9:25 am

IMF's Lagarde Touts Distributed Ledger as Defense Against Terror

The head of one of the world's largest financial organizations has issued new comments addressing blockchain trends.

Source

Posted on 22 June 2017 | 6:53 am

Identity without the Blockchain? Skepticism Grows for Once-Hot Use Case

Launched at the UN, the ID2020 Alliance is seeking to revolutionize identity, but will blockchain be the technology of choice?

Source

Posted on 22 June 2017 | 6:30 am

Bitcoin Startup Blockchain Raises $40 Million Series B

Bitcoin wallet software startup Blockchain has raised $40m in Series B funding to continue its mission of improving financial services.

Source

Posted on 22 June 2017 | 5:08 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

Op Ed: How Cryptocurrency Holders Can Diversify While Deferring Taxes

Quasi-charitable Trusts: How Cryptocurrency Holders Can Diversify While Deferring Taxes

With the historic rally in Bitcoin and Ethereum, there are more investors than ever seeking to diversify their newly expanded cryptocurrency holdings. Whether this diversification involves exchanging cryptocurrency for fiat, other cryptocurrencies or a mix of both, the downside can be capital gains tax exposure.

Capital gains (if the underlying property has been held for over a year) are taxed at 15 percent, 18.8 percent or 23.8 percent, dependent upon the amount of income received during the year. One common method of tax reduction is to spread sales/exchanges over multiple years, in order to “soak up” the maximum amount of income into the 15 percent and 18.8 percent brackets.

If you're seeking to diversify, it’s really only practical to spread sales over a few years at most. But what if there were a way to sell immediately while still deferring this capital gains income over a much longer period, such as 20 years or even a lifetime? And what if this method were able to also provide some benefit to charity, with a corresponding charitable deduction?

Enter the Charitable Remainder Trust

This can actually be done with a quasi-charitable trust, namely a charitable remainder trust. With a charitable remainder trust, you contribute some amount of your cryptocurrency to a trust before selling. The trust then sells the cryptocurrency (or otherwise diversifies) on a completely tax-free basis. The proceeds of sale stay within the trust, where they can be reinvested in stocks, bonds, mutual funds, other cryptocurrency or almost any other investment asset.

In exchange for your contribution of cryptocurrency, the trust makes a payment to you each year for so long as you are alive. (You can alternatively choose to have the payment made for the joint lives of you and your spouse, or some shorter fixed term of years.) You choose the amount of this annual payment at the time you create the trust.

The whole process is sort of like receiving an annuity in exchange for your cryptocurrency. This payment can be a fixed amount, or it can be expressed as a fluctuating percentage of trust assets each year. When you pass away, whatever is left passes to a charity of your choice.

There are numerous tax benefits:

  1. The sale or exchange of cryptocurrency is completely tax-free.

  2. You personally only pay tax each year on the annual payment you receive from the trust. So if you use a charitable remainder trust to sell $5M of Bitcoin in 2017, but your annual payment for the rest of your life is $250,000 per year, then you only pay tax on $250,000 in 2017. This payment would be taxed at favorable capital gains rates. Depending on the amount of your other annual income, this strategy will likely keep you in the lower capital gains brackets.

  3. In the year of trust creation, you receive an income tax deduction equal to the actuarial value of the charity’s projected gift. This actuarial value is a calculation done by your attorney-CPA. The smaller the payment you select, the larger the charitable deduction. Assuming you choose an appropriate charity, the deduction can be used to reduce up to 30 percent of your income in a given year, and any unusable amount carries forward for up to five future years. For example, if a 42-year-old man were to contribute $2.5M of cryptocurrency to a charitable remainder trust in 2017 and selected an annual payment equal to 5 percent of trust assets, he would receive a charitable deduction of approximately $480,000 (at current IRS rates). That deduction could be used against his taxable income in 2017, 2018, 2019, 2020 and 2021.

You can even reserve the right to serve as trustee of the trust and to change the charitable remainder beneficiary whenever you please.

There are of course many technical caveats that need to be complied with. Most important, the IRS requires that the actuarial value of the charity’s share must be at least 10 percent of the assets contributed to the trust. Be sure to consult with appropriate counsel to ensure you meet the 10 percent rule and other technical requirements.

If you are looking to reduce and defer income taxes while keeping a guaranteed income for life and doing some good in the process, a charitable remainder trust can be the way to go.

This article is a guest post by Jeff Vandrew Jr. It does not necessarily reflect the views of BTC Media or Bitcoin Magazine and is for general information purposes only; it should not be taken as investment advice. Investors should conduct their own due diligence and consult with a qualified tax/investment professional before attempting anything described in this article.

The post Op Ed: How Cryptocurrency Holders Can Diversify While Deferring Taxes appeared first on Bitcoin Magazine.

Posted on 21 June 2017 | 8:47 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

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

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Steam accepts Bitcoin

Posted on 29 April 2016 | 1:09 am

Major Magazine Publisher to Accept Bitcoin Payments

Posted on 18 December 2014 | 12:43 pm

Microsoft accepts Bitcoin

Posted on 11 December 2014 | 5:06 am

Mozilla accepting Bitcoin

Posted on 20 November 2014 | 1:55 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

June 25, 2017 -
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