CryptoDigest@Steem Monday, July 24, 2017
Dear Steemians!
Here is the daily press review for bitcoin and other crypto currencies.
Rothschild Corporation Files a US$210,000 Bitcoin Purchase Through Bitcoin Investment Fund
However, a SEC document shows the Rothschild family has bought close to US$210,000 worth of Bitcoin recently. Although this is only a small amount, they purchased it through the Bitcoin Investment Trust. More specifically, the document is filed by Rothschild Investment Corp. It is interesting to see them validate Bitcoin Investment Trust in such a way, though. There is no reason for the Rothschild family or their companies to purchase large amounts of cryptocurrency. (livebitcoinnews.com)
British Companies Buy Up Bitcoin for Ransoms As Costs of Attacks Surge
There have been some major hits in recent times that have seen companies and institutions as big as the National Health Services and FedEx forced to pay ransoms in Bitcoin. This trend of preparing to be held ransom by British businesses is nothing new, as it was reported in early June that up to a third of businesses in the UK were holding Bitcoin in anticipation. It is estimated that companies are holding on average £46,000, with larger firms holding £136,000. There has been a notable uptake in the buying of Bitcoin by some of the bigger companies and businesses in Britain as the fear of a ransomware attack still looms large. However, despite the advice from law enforcement being that companies should not be paying the ransoms, the number of businesses that have picked up the digital currency has grown. (cointelegraph.com)
What Is CheckLockTimeVerify and Is It a Useful Bitcoin Feature?
CheckLockTimeVerify is one of them, and it allows people to freeze a Bitcoin transaction for a specified amount of time. One such feature is CheckLockTimeVerify, a Bitcoin protocol feature allowing users to freeze a particular transaction until a certain point in the future. Users send a Bitcoin transaction which will only be unfrozen once a specific point in time is reached. Most people who become involved with Bitcoin and cryptocurrency do not look beyond the options of buying, selling, and trading Bitcoin. This particular feature can prove to be a valuable ally when it comes to setting up recurring subscription models using Bitcoin. (themerkle.com)
Got Bitcoin? Then These Altcoins Will Literally Give you Free Money
Here’s how you can grab some extra crypto tokens for free by simply proving that you hold bitcoin. If you hold Bitcoin, you can claim your free lumens here. If you hold your Bitcoin in a Trezor wallet, here is a good tutorial on claiming your free GB via signing a message. Please let us know if you know of any other cryptocurrencies distributing their tokens to Bitcoin users. This is where Stellar Lumens and Byteball are trying to make inroads. (bitcoinist.com)
Here's why Bitcoin is rebounding
The stabilization seems to be the result of Bitcoin miners reaching an agreement on the enactment of the Bitcoin Improvement Proposal. This story was delivered to BI Intelligence "Fintech Briefing" subscribers. Bitcoin has recovered somewhat from the drop in value seen last Sunday, with the price of the cryptocurrency reaching $2,701 at the time of this writing. Additionally, the agreement allows Bitcoin to add features that will make transactions faster. If the updates go as planned, we will likely see increasing stability of the price of Bitcoin. (businessinsider.com)
Your ultimate guide to the upcoming fork that's splitting the Bitcoin community
Besides being known as SegWit 2x, the miners’ solution is also called MASF (Miner Activated Soft Fork) and BIP 91. Well, the reason that hasn’t happened is that the bitcoin blockchain is slow and expensive. It’s this disagreement that’s led to the confusion around August 1 and the potential split of the Bitcoin blockchain. On the other side are the miners, who deploy computers to run the bitcoin network (blockchain). Coins that were collected by users during the Bitcoin Common can be spent on both Bitcoin Classic and Bitcoin Current. (thenextweb.com)
Hemeras Boutique House: The first Luxury Network Boutique Hotel of Europe to accept Payments in Bitcoin - Press Release
Hemeras Boutique House is an innovative luxury serviced apartments’ network, focused on the implementation of a new concept of Italian hospitality. Hemeras Boutique House meets the needs of travelers, businessmen, fashion models and photographers with luxurious private apartments that can be booked even and only for hours with the day-use formula. Hemeras Boutique House, a well-known business active in the luxury hotel market, is officially the first City Centre Network Hotel in the centre of Milan and Florence which has implemented a payment system in Bitcoin, the most popular crypto-currency in the world. Hemeras guests are also served with outstanding extra services such as personal trainers, hairstylists, cooking service with home chefs, tour guides, personal drivers, personal shoppers etc. But what are the true benefits of using Bitcoin in common life and therefore for Hemeras, as well as being industry innovators? (coindesk.com)
Cryptocurrency Market Cap Grows to US$95bn Thanks to Strong Bitcoin Price Momentum
If all things go according to plan – and they rarely do – the total cryptocurrency market cap should climb back to US$100bn and higher soon. After a week filled with ups and downs, we can now state the total cryptocurrency market cap is heading back toward US$100bn. The total cryptocurrency market cap is back at US$95.4bn, way up from the US$68.5bn we hit just under a week ago. Everyone wants to know how much particular coins and tokens are worth or what their market cap is. If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news. (themerkle.com)
Considering using bitcoin to store wealth? Here's what you need to know
Van Rooyen said "the most popular use for bitcoin in South Africa is using it as a storage of wealth‚ an alternative asset class. It is certainly becoming more popular all over the world and South Africa is no exception." Compared to 2016‚ we’ve seen a 170% year on year increase in the number of bitcoin transactions – albeit off a small base‚" said Walsh. Ice3X bitcoin exchange founder Gareth Grobler says the bitcoin market in South Africa is still “tiny” compared to Asia but guesses about 100‚000 people could be trading it. "Whilst this is only a small portion of our overall sales‚ the numbers of bitcoin transactions have increased year on year since launching the service. (timeslive.co.za)
Indian Bitcoin Hotspot Bangalore Sees 50+ Merchants Added This Month
Leading Indian bitcoin exchange Unocoin is based in the city, and has been helping merchants accept bitcoin there. Attendees learn about and discuss topics such as Bitcoin, Ethereum, and blockchain technology.“India started on bitcoin quite late. Also read: India Fights Over Which Government Body Will Regulate BitcoinSouthern Indian city Bangalore, officially known as Bengaluru, is India’s third most populous city, with about 8.42 million people. Many merchants in the area accept bitcoin through the Bangalore-based Unocoin, one of the largest bitcoin exchanges in the country, which also provides merchant services. Bitcoin’s popularity in India is steadily growing, particularly in the country’s third most populous city, Bangalore. (bitcoin.com)
3 Reasons Bitcoin Has Soared 740% in 2 Years --
Well, it's impossible to deny that speculation and day traders have contributed significantly to bitcoin's rise this year. The good news is the mining process for the second-leading cryptocurrency, ethereum, is much more energy efficient than that for bitcoin. Here are three reasons bitcoin has rocketed higher in the the past two years. Bitcoin and other cryptocurrencies are created through a process called mining -- and the more computer processing power, the better. The better news is that NVIDIA, Advanced Micro Devices, and Intel can add cryptocurrency mining as an additional growth catalyst for current and future products. (fool.com)
No Split For Digital Payment Method Bitcoin
Bitcoin miners rallied their support behind what is known as “Bitcoin Improvement Proposal 91,” a proposal which keeps the cryptocurrency from being split into two blockchains. The upcoming software upgrade, also to be accomplished through the SegWit2x platform, will not happen until fall of 2017, according to observers interviewed by Reuters. According to Reuters, the cryptocurrency received a software upgrade that allows transactions to be processed with greater ease and speed. Bitcoin recently avoided being cleaved in two, thanks to a vital assist from its network of miners. The miners, in turn, are part of the network operators who secure all transactions involving Bitcoin. (pymnts.com)
Bitcoin to Make India Inroads?
As reported in trade publications covering virtual currencies, bitcoin and its brethren are not likely to be ruled illegal in India, as noted by cryptocoinnews.com. But last week saw some exploration – OK, call it the exploration of possibly exploring – the idea that bitcoin could be used in India. Might the move to a cashless society in India also embrace bitcoin? Bitcoin and other offerings will probably be governed by the country’s central bank, cryotocoinnews.com reported. The notoriously volatile cryptocurrency has had its share of headlines stretching across transaction fees and even hacking. (pymnts.com)
Bitcoin Price Watch; Here Are The Levels To Watch Today
Right now, we’re focusing on the 2800 and 2900 range as indicative of long term potential in this asset. Near term, things are slightly less concrete, but we are still looking to the upside as primarily indicative of our bias. A close above resistance will have us in long towards an upside target of 2795. As the chart shows, then, the range we are looking at for today is defined by support to the downside at 2747 and resistance to the upside at 2770. A stop loss on both trades will ensure that we are taken out the position in the event of a bias reversal. (newsbtc.com)
A Bitcoin blockchain split may have been averted by BIP 91
The current favourite, BIP 91, was proposed by US-based Blockchain specialist James Hilliard and was designed to prevent a split in the Bitcoin blockchain. BIP 91 proposes to add some code to the current Bitcoin system, so that the network becomes faster. More than 90% of Bitcoin miners have chosen to back a proposal called BIP 91 — Bitcoin Improvement Proposal number 91 — over another proposal introduced by a set of stakeholders in the Bitcoin ecosystem.“Ninety-five percent of the miners have already agreed to it and have signalled support for BIP 91 and the split in the blockchain is likely not happening,” Saurabh Agrawal, cofounder and CEO of Bitcoin exchange Zebpay told FactorDaily. The proposal, once cleared, will implement Segwit2X, a software improvement to the Bitcoin system, and activate both “SegWit” and a 2MB block size limit in the Bitcoin system. A major split in the Bitcoin blockchain, threatening to erode the value of the cryptocurrency, seems to have been averted as a majority of miners have backed a new proposal to improve the Bitcoin system. (factordaily.com)
Cryptopia raises bitcoin deposit confirmations to 6 for BIP 91 transition
On Tuesday, July 25th, another 336 blocks after the BIP 91 “lock in”, BIP 91 could actually go into effect, at the soonest. New Zealand-based altcoin exchange Cryptopia has announced that bitcoin deposit confirmations have been raised to 6 while BTC transitions through BIP 91. A further small update to the exchange just announced sees the minimum trade amounts on Cryptopia base markets raised. Any blocks that do not signal readiness for Segregated Witness (per BIP 141) will now be rejected. The notice by Cryptopia includes all cryptocurrencies that rely on the BTC protocol, i.e. (cryptoninjas.net)
When thieves strike, cryptocurrency investors tremble
Over the same period, Bitcoin prices have surged from $1,027 to $2,638, a gain of more than 150 percent. A year later he joined forces with another programmer to create Ethereum, now the second-most popular cryptocurrency after Bitcoin. Cryptocurrency Ethereum has emerged from the shadow of its better-known rival Bitcoin thanks to its skyrocketing price -- that has also made it a tempting target for hackers. To help stabilize the price of Ethereum, it will also offer bonuses to anyone who holds it for at least six months. The concept behind Ethereum was initially described by computer programmer Vitalik Buterin in 2013 based on his research on Bitcoin. (cbsnews.com)
Kosovo's First Bitcoin ATM Sparks Central Bank Warning
A private business in Kosovo is gearing up to install its first bitcoin ATM amid warnings from the country's central bank. Hazeri went on to call for local regulators to take steps to open the conversation about possible legal accommodations for the industry. The biggest risk is not knowing how to use it," said Valmir Hazeri, chief operations officer of a local bitcoin company Bitsapphire. The firm also has bitcoin ATMs planned for cities in two other Balkan countries: Tirana in Albania, and Skopje in the Republic of Macedonia. According to regional news source Balkan Insight, the ATM is expected to be placed in the center of Pristina, the country's capital city. (coindesk.com)
Five things to know about bitcoin
- From becoming a legal currency in Japan to being vulnerable to hacks, here are five things to know about bitcoin. () (washingtonpost.com)
Bitcoin Analysis: averts coin split, bullish above $2710
The Gann Fan line is seen offering support round $2710 levels today. Bitcoin once again found support of the Gann Fan 2/1 line yesterday. The total market cap of the virtual currencies stands at $94.54 billion. Other virtual currencies - Ethereum, Ripple are flat lined as well. The currency failed to rally over the weekend, even though the miners signaled their support for the Bitcoin Improvement Proposal (BIP) 91, avoiding a split of Bitcoin into two blockchains. (fxstreet.com)
More on these and other related news can be found at http://zentrade.online/bitcoin-news-digest-monday-july-24-2017/