Bitcoin News Feed [29 Dec 2016]
The Empire Strikes Back: IRS Counters Coinbase Customer’s Action
Two weeks ago, managing partner of Berns Weiss LLP Jeffrey K. Burns filed a motion to set aside the “John Doe” summons against any and all American Coinbase customers. Today, the IRS had an interesting response for Mr. Berns. ....
2017's Big Question: Who Pays for the Blockchain?
Wayne Vaughan is the CEO of Tierion, a proof engine that lets you prove the integrity of any data, file, or business process. He is the co-author of Chainpoint, a standard for linking data to the blockchain. ...
When Bankers Attack: The Big Business of Patenting Blockchain Tech
The largest banking corporations and economic interests in the world are entering into a patent war for Bitcoin’s underlying blockchain technology. ....
Crypto Security in 2016: A Tale of Two Weaknesses
Bill Shihara is the CEO and co-founder of cryptocurrency exchange Bittrex, and a former security engineer at Amazon, Blackberry and Microsoft. ...
Will We See a $1,000 Bitcoin in 2016? Analysts Suggest Yes
As 2016 draws to a close, bitcoin prices continue to show strong, upward movement. Depending on the media outlet you prefer, bitcoin is either "storming", "surging" or "creeping" its way back up to $1,000. In the past month alone, bitcoin has surged more than 33%, rising from $732 on 29th November to an annual high of $977.35. ....
Top 3 Blockchain Startups of 2016
The rise of cryptocurrencies, and especially the interest in Blockchain technology has put new startups in several VC funds’ crosshairs. ....
New Features in Opendime’s Next Cash-Like Bitcoin USB Stick
When Opendime made its ‘bitcoin stick’ with multi-signature Bitcoin wallet provider Coinkite, it called it a ‘Bitcoin bearer bond’ – that is, a bond or debt security. The controversial product, much scrutinized in 2016 by Bitcoiners, experienced concerns over counterfeiting, as well as its closed-source nature. The company has responded to the counterfeiting concerns in Version 2.0, due in February 2017. .....
One of These 5 Hyperinflating Economies Could Adopt Bitcoin in 2017
Fourteen countries have inflation levels above 18 percent right now, 10 of which are rising at press time. Bitcoin prices and new user adoption have spiked several times in the past during economic turmoil such as banking bailouts and hyperinflation. ....
Why Bitcoin’s Triumphant $15B Market is Just Getting Started
Bitcoin has had a triumphant year this 2016 reaching a milestone market capitalization of over $15 billion during the end of December. It’s nice to mention that the digital asset has been one of the top performing currencies worldwide, beating many commodities as well. But what’s really worth pointing out is this phenomenon has happened without governments, corporations, or any central authority. .....
Geopolitical Turmoil Spurs Bitcoin Investments Worldwide
As many economists predicted, the Italian constitutional referendum of 2016 shook the country’s banking system to the core. Italian bank stocks have plummeted drastically since the referendum and it comes at a time where the digital asset bitcoin is seen by investors as a safe haven. Furthermore, Chinese bitcoin interest has grown exponentially as the yuan devalues and the country faces economic uncertainty. ......
The Biggest Influencers of Bitcoin Price in 2016
Can the surge continue? A review of bitcoin’s 2016 performance indicates the cryptocurrency’s fundamentals are such that the party is far from over. With incoming U.S. President Donald Trump promising a fiscal spending binge that could push the $20 trillion U.S. debt even higher, the fundamentals that have served to more than double bitcoin’s price this year could deliver even greater gains in 2017. ......
Russian Airline and a Bank Execute a Blockchain Service Payment
PJSC Siberia Airlines, commonly known under its operative name of S7 airlines has executed the first of its kind service payment using Ethereum blockchain smart-contracts through a letter of credit, with Russia-based Alfa-Bank. ...
Startup Uses Blockchain to Crackdown on Wine Fraud
Everledger, a London-based startup, has entered into a strategic partnership with IBM to develop and deploy a blockchain-based system that will be utilized to crackdown wine fraudsters. ....
Blockchain Forex Consortium adds Japan-based Fukui Bank
Japan-based Fukui Bank has joined the blockchain consortium for domestic and foreign exchange services launched by Japanese financial services giant SBI Holdings and its subsidiary, SBI Ripple Asia. With its latest addition, the consortium now sees 43 participating members. .....
Vinny Lingham: Bitcoin Price Will Reach $3,000 in 2017
Vinny Lingham, co-founder and CEO of Civic.com released a highly anticipated blog post entitled “Bitcoin 2017: A Currency Devaluation Hedge for Emerging Markets” on December 28 to share his thoughts on Bitcoin and its price trend in 2017. In his analysis, Lingham predicted that the Bitcoin price will double or triple within the next 12 months. ....
The Question for 2017: What Sort of Digital Money Are You Paying With - Centralized or Decentralized?
According to a poll conducted by Mastercard in 2013, 80 percent of consumer spending that year was cashless. Participants aged 18-24 years used cash less often the same year. ....
Leaving the Wild West: New Swiss Cryptocurrency Focuses on Usability and Regulatory Compliance
Giracoin, a new cryptocurrency with a focus on ease of use and wide adoption, has been launched by Gira Financial Group AG in Switzerland. The developers hope to start a “digital cryptocurrency transformation”, by creating a coin which is exceptionally friendly to a first-time user and is run by a legitimate company, to facilitate cooperation with the government. .....
Double the Price, Double the Caution: Keep Your Bitcoins Safe
As the price of Bitcoin surges, there have been constant reminders, especially on Reddit, for its new users to be cautious and not to keep their portion of the currency on exchanges. ....
Interesting take on the IRS response. Anonymous and unnamed people have no standing in the court , but anyone with standing must reveal the very information the IRS requires to do a targeted summons and/or flag for an audit.
It seems that coinbase needs to take a stance that this summons hurts coinbase by hurting its customers privacy.