CryptoDigest@Steem Thursday, March 30, 2017
Dear Steemians!
Here is the daily press review for bitcoin and other crypto currencies.
Exclusive: Should Bitcoin be allowed in India? Govt panel to meet on April 20 to discuss
Some countries have clearly defined rules under which Bitcoin businesses function, the regulations are hazy in most others. He only indicated that the use of virtual currency for illegal purposes is illegal, and not that bitcoin per se is illegal." In India, bitcoins have drawn flak from the Reserve Bank of India and many politicians, but there is no prohibition to bitcoin mining, trading or transfer of it. Last month, bitcoin startups in the country joined hands to form Digital Asset and Blockchain Foundation of India (DABFI) to promote virtual currency market. If the government declares Bitcoin to be illegal in India, then the exchanges will have to shutdown, the source added. (moneycontrol.com)
Bitcoin Exchange BitPrime Is Open For Business In New Zealand
As of March 28th, the company is open for business and allows anyone to buy and sell bitcoin without friction. It is good to see New Zealand is once again getting a bitcoin exchange platform. BitPrime makes use of a third-party escrow service to ensure all clients’ funds is safe and secure at all times. It is evident the people who run BitPrime are very passionate about bitcoin and cryptocurrency, and it will be interesting to see how this company fares in New Zealand. Using such an escrow service is quite unique among bitcoin exchanges, that much is certain. (livebitcoinnews.com)
Is It Too Late to Buy Bitcoin, Dash, Ether? CT Investment Tips
For short and mid-term investment, is it too late to buy the mentioned digital currencies? Dash and Ether are different from most digital currencies such as Bitcoin or Monero in the sense that they have unique monetary policies. In general, cryptocurrencies including Bitcoin, Monero, Dash and Ethereum are all at their early stages. While the majority perceives digital currencies including Bitcoin, Monero, Dash and Ether as either a means of payment or a token for development, there still exists a relatively large group of users who consider these digital currencies as short and mid-term investments. Ethereum developers or users will argue that the price of Ether will continue to increase so long as the development community remains active. (cointelegraph.com)
Busted Indian Students Used Bitcoin for Smuggling $100,000 of LSD from the US
India’s young but growing bitcoin industry has established a self-regulatory body to warn users of possible schemes that are abusing bitcoin or digital currencies in the country. The LSD drug consignment was worth ₹72,00,000 (approx. $107,800) and was sent via a courier from the United States by a friend of one of the accused, officials revealed. This week, Indian news media falsely reported that bitcoin was deemed illegal by the Indian government. Indian police in the city of Mumbai (formerly Bombay) have seized LSD worth over $100,000 in a shipment to India from the United States with payments made in bitcoin. The seizure, which contained 1,400 ‘microdots’ of LSD, represents the largest drug bust in recent times by the ANC.Tellingly, perhaps, payments toward the drugs from India were made using bitcoin. (cryptocoinsnews.com)
Double Your Bitcoins In 100 Hours With HackBitcoin
HackBitcoin aims to facilitate this process by doubling your bitcoins in 100 hours. HackBitcoin guarantees to double your money in 100 hours in a completely passive manner. All it takes is one bitcoin transactions and 100 hours of patience to see twice your original value returned to you. Finding the right bitcoin investment opportunity can be a troublesome experience. By depositing funds to HackBitcoin, anyone can double their balance with relative ease. (newsbtc.com)
Bitcoin (BTC/USD) Price Technical Analysis for March 30, 2017
RSI is treading on middle ground, reflecting sideways price action and barely providing a clue on where bitcoin could be headed next. Bitcoin is trading sideways and is consolidating inside a small symmetrical triangle seen on the 1-hour time frame. There are still several arguments for further bitcoin weakness, particularly when it comes to regulatory acceptance and the looming hard fork. Price is nearing the peak of the pattern so a breakout might take place pretty soon, possibly before the end of the week and quarter. However, this could still prove to be a fakeout if the rally is not sustained or if price falls back inside the longer-term channel. (fxdailyreport.com)
Bitcoin Price Technical Analysis for 03/30/2017 - End of Quarter Breakout?
Bitcoin price is consolidating in a short-term triangle pattern as traders are holding out for a fresh batch of market catalysts in the upcoming quarter. RSI is on the move down to show that bitcoin price is under some selling pressure. Opposing forces are working on bitcoin price at the moment as the cryptocurrency is being dragged down by the denial of bitcoin ETF by the SEC and the looming hard fork. The 100 SMA just crossed below the longer-term 200 SMA to suggest that the path of least resistance is to the downside. Signs that the White House can enact its tax policy changes sooner rather than later could spur more gains for the dollar. (newsbtc.com)
No, Bitcoin isn't illegal in India
A few days ago, PTI ran a story saying that “Use of Bitcoin illegal, can attract anti-money laundering law”. The RBI is still “examining” the Bitcoin situation in India. MediaNama readers might recall that in 2014, the RBI had said that it would not regulate any Virtual Currency including Bitcoin in India and warned people who were dealing with the currency in India of the risks involved, saying that they’re exposing themselves to financial, legal, operational and security related risk. It cited a response in the Rajya Sabha by the Minister of State for Finance Arjun Ram Meghwal, but interpreted the statements incorrectly. The absence of a regulation doesn’t make it illegal. (medianama.com)
Online gambling and Bitcoin: How to protect your digital currency from the anticipated Hard Fork and possible Blockchain split
Online gambling and Bitcoin: How to protect your digital currency from the anticipated Hard Fork and possible Blockchain split was last modified: by BitCoin holders concerned about the potential hard fork blockchain split scenario should consider the risks associated with exchanges. And whether the update becomes a hard or soft fork, the software improvements for digital currency is all about the transactions. With decentralized currency, transactions are kept private despite the fact that the bookkeeping is performed in the open via a digital ledger, known as a blockchain (opens in new window). A blockchain, as the word suggests, is a chain of blocks, and each block consists of a pre-determined number of transactions. (worldcasinodirectory.com)
Bitcoin Price and Adoption Rate Continue to Increase Overall Internationally
In the United States, Bitcoin is trading for $1,041. The videos below show the adoption rate for Bitcoin in the United States and Brazil. The recent increase in price to Bitcoin has raised red flags to legal manners in which the transactions are being made. They cover how Russia has banned cryptocurrency, but adoption for Bitcoin continues to climb. As cybersecurity and economical stability continues to be major issues, another component is establishing transparency for online transactions. (crescentvale.com)
Where to, Bitcoin? Traders Offer Mixed Opinions on Market Direction
Their input comes as bitcoin prices have largely traded rangebound in the last few days, fluctuating between $1,010 and $1,060, according to the CoinDesk Bitcoin Price Index (BPI). The path forward for bitcoin prices isn't clear, market analysts say. Much of the attention seems to have squared on the prospects of a possible bitcoin hard fork – and the resulting tension that has taken hold. Tim Enneking, chairman of Crypto Asset Management, offered similar sentiment, telling CoinDesk that "hard fork concerns are capping upward movement". "The additional uncertainty surrounding the potential hard fork also acts as a price dampener," he added. (coindesk.com)
Bitcoin Could Lose Half its Value Facing Coordinated 51% Attack
Speculation that the Bitcoin Unlimited (BU) Project is planning something big; possibly a 51% attack, may becoming a reality. One goal of Bitcoin Unlimited is to create a new standard for bitcoin. All this indicates that Bitcoin Unlimited might simply lack the credibility to carry out its threats. If that is true, there would be a higher volume of bitcoin trading which would generate more volatility. If they were to succeed the BU miners might be able to create a new cryptocurrency. (pfhub.com)
Two Mumbai collegians held for smuggling LSD from US, paying with Bitcoins - Times of India
Police have recovered 1,400 blots of LSD worth Rs 70 lakh. The offence attracts a sentence of 10 to 20 years.LSD in the form of acid stamps, which come in sheets similar to postal stamps, has to be placed sublingual (under the tongue). "Our team had received information that this gang has been actively involved in smuggling and supplying LSD or party drugs to several others including celebrities," said Mane. The others arrested are a real estate agent, Farhan Khan, an associate TV producer, Admiya Modi, and a computer engineer, Laxman Rajan. Police said the gang has been smuggling the contraband from the US through courier services. (indiatimes.com)
How an Anarchist Bitcoin Coder Found Himself Fighting ISIS in Syria
But as with so many young Westerners drawn to fight on either side of the war with ISIS, Taaki’s life in Syria would turn out differently from what he’d imagined. The Iranian-British coder was headed to a state near the country’s northern border with Turkey: Rojava, where an unlikely anarchist movement was fighting for its life against the Islamic State. After years of preaching a crypto-anarchist revolution on the internet, Taaki had set out in secret to fight for a very real revolution—in Syria. WIRED can’t independently confirm much of Taaki’s account of that early period in Iraq and Syria. One soldier in his unit died in a similar ISIS machine-gun ambush, his torso perforated with bullet wounds. (wired.com)
Will Bitcoin Dominate Casinos Online?
Online casinos and online money (Bitcoin) only make sense. Bitcoin is online currency already, it is the most efficient way to play casinos online. Bitcoin Casinos online enjoy the following features:You can choose from a wide variety of casino games with Bitcoin, including the following: Bingo, Blackjack, Dice, Poker and Roulette. This Bitcoin gambling continues to grow; will it eventually dominate casinos online? You are free with Bitcoin Casinos online. (newsbtc.com)
IRS seeks bitcoin exchange user data, raising privacy concerns
Privacy concerns have arisen as the Internal Revenue Service aims to obtain consumer information from popular bitcoin service, Coinbase, The Wall Street Journal reports. The IRS served a “John Doe” summons to Coinbase demanding transaction and user profile records on all of its U.S. users from 2013 to 2015 as part of a tax evasion probe. Coinbase has yet to turn over any of the data and is asking the government to narrow the scope of the information it is seeking. While Coinbase’s general practice states they will cooperate with law enforcement agencies, the company said it will fight back against the request unless the demands are scaled back. “It amounts to nothing more than asking for large amounts of hay in the hope they might find a needle,” said Internet Association CEO Michael Beckerman. (Registration may be required to access this story.)Full Story (iapp.org)
More details on these and other related news can be found at http://zentrade.online/bitcoin-news-digest-thursday-march-30-2017/