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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

How Bitcoin is infiltrating the $60bn global art market - BBC News


BBC News

How Bitcoin is infiltrating the $60bn global art market
BBC News
Why is the art world getting excited about digital currency Bitcoin and its underlying technology blockchain? Eleesa Dadiani owns and runs an art gallery in London's famous Cork Street. She was born in Georgia in the Caucasus and was "breastfed by ...
3 Reasons Bitcoin Has Soared 740% in 2 YearsMotley Fool
Top 3 Exchanges Confirming Support for Bitcoin Cash TradingThe Merkle
Investors offered new and easy way into Bitcoin marketScoop.co.nz
The Market Mogul
all 30 news articles »

Posted on 24 July 2017 | 5:18 pm

Bitcoin platform scores key greenlight from Wall Street regulator - MarketWatch


CNBC

Bitcoin platform scores key greenlight from Wall Street regulator
MarketWatch
The Commodity Futures Trading Commission on Monday granted a license to an entity to serve as a derivative-trading platform for bitcoin BTCUSD, -2.88% and other cybercurrencies like Ethereum's ether. The CFTC approved New York-based LedgerX to ...
You may soon be able to trade options on bitcoin, ethereumCNBC
Bitcoin Options Exchange Wins Approval From CFTCWall Street Journal (subscription)
Bitcoin Options Will Be Available This FallBloomberg
Barron's -Bitcoin News (press release) -www.waterstechnology.com
all 23 news articles »

Posted on 24 July 2017 | 4:13 pm

Goldman Sachs to Bitcoin Investors: Be Patient, Bitcoin Over $3600 - CoinTelegraph


CoinTelegraph

Goldman Sachs to Bitcoin Investors: Be Patient, Bitcoin Over $3600
CoinTelegraph
Jafari made news at the beginning of the month when she suggested Bitcoin could rise to nearly $4000 by the end of the year. The suggestion drove some to invest in Bitcoin at a time when the prices were relatively high. The correction last week, before ...

Posted on 24 July 2017 | 4:12 pm

'Unrealistic': BIP 91 Creator James Hilliard Has Choice Words for Segwit2x

The creative coder behind a clever way to enact SegWit doesn't believe a new proposal for the network is in its best interest.

Source

Posted on 24 July 2017 | 3:35 pm

Ether Price Analysis: Market Consolidation Provides Calm Before Next Breakout

Ether Price Analysis

Over the past few days, despite major swings throughout the crypto-market, ETH-USD finally appears to be displaying nice, reliable signs of market consolidation:

Figure_1 (1).jpgFigure 1: ETH-USD, 2-hr Candles, Bitfinex, Consolidation Pattern

Two key characteristics of market consolidation are decreasing volume over the course of a trend and decrease in price volatility. It should be noted that price consolidation can take many patterns and is not restricted to the convergent pattern (lower highs accompanied by higher lows) displayed above. For the sake of this article, we will focus on the convergent pattern displayed in our current market. To see the health of the overall market, let’s put this trend in the context of the weeks leading up to this pattern:

Figure_2 (1).jpgFigure 2: ETH-USD, 6-hr Candles, Bitfinex, Macro Fibonacci Retracement Values

Within the context of the macro trend, our consolidation pattern falls very neatly on the 60 percent Fibonacci Retracement values of the macro bull trend that brought us to our all-time high values. When looking at the health of this trend, the first thing that pops out is the large amount of supportive volume (shown in yellow) that has gone into shaping the current ETH-USD volume. The current volume trend far outweighs any of the previous volume trends throughout the life of the bear market and even throughout the life of the previous bull run that led to all-time high values.

If we zoom out even further, we can see our current volume is actually at the highest volume the market has seen since its last major consolidation period within the $40 values:

Figure_3 (1).jpgFigure 3: ETH-USD, 1-Day Candles, Log Scale, Bitfinex, Last Major Consolidation Period

The previous consolidation period (shown in yellow) resulted in a substantial Bull Pennant pattern that resulted in a bull run that doubled the market value of ETH-USD. Something interesting to note is our current consolidation pattern within the context of the entire market since the last consolidation pattern. If we look at the market moves post-consolidation as a massive bull run — which, technically, it is — we see ETH-USD is consolidating very nicely on the 50 percent Fibonacci Retracement values.

Although the price projections for our current consolidation period is substantially lower than the last major consolidation period, the important aspect to take away from Figure 3 is the magnitude of the volume the market has experienced over the past couple weeks. High volume leading into a consolidation period is a good sign that the market has found its bottom and is now gathering up support and investor confidence before a breakout.

There are two ways to view our current consolidation pattern:

  1. An agnostic (meaning it’s neither bullish-leaning nor bearish-leaning), symmetrical triangle;

  2. A Bull Pennant (a bullish continuation pattern).

For the sake of time, I won’t go into details regarding how to calculate the price targets of these patterns. Both symmetrical triangles and Bull Pennants are very commonly traded patterns and have a lot of literature to support their price targets. If this pattern turns out to be a symmetrical triangle and the consolidation breaks down, we can most likely expect a move down to the $180 range before any further upward movement is seen.

However, if this is a Bull Pennant, ETH-USD can most likely expect a ~$100 move upward, leading to a price target of approximately $330. It’s important to note that a price target of $330 would result in a 100 percent retracement since the beginning of our prior bear run. If the market breaks upward and we do see a $330 price target, a test of this 100 percent retracement value will be crucial to determine the future moves within the ETH-USD markets.

Summary:

  1. ETH-USD has spent days consolidating along $230.

  2. A breakout upward would most likely yield a $330 price target.

  3. A breakout downward would most likely yield a $180 price target.

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 BTC Media related sites do not necessarily reflect the opinion of BTC Media 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: Market Consolidation Provides Calm Before Next Breakout appeared first on Bitcoin Magazine.

Posted on 24 July 2017 | 2:17 pm

Colony Moves Organizations, Companies onto the Ethereum Blockchain

Colony

London-based startup Colony is building an infrastructure based on the Ethereum blockchain that aims to revamp the way organizations and companies work and collaborate, promising to make human resources and project management more open, fair and efficient.

Think of Colony as the merger of Trello and Upwork, but running on a blockchain. Colony essentially brings the organization and human capital together onto a decentralized and transparent platform, and adds a monetary system that rewards freelancers and contributors alike based on their contributions to the success of the organization.

“Colony brings about a new ‘Nature of the Firm’ by significantly reducing both the transaction costs of the market exchange mechanism for labor, and trust required for people to work together,” Jack du Rose, co-founder of Colony, told Bitcoin Magazine.

“We see Colony as infrastructure for the organizations of the future. We believe infrastructure should be reliable and impartial; one organization should not be reliant on the existence or permission of another to operate.”

Instead of being managed by fallible individuals, “colonies” running on the platform harness the wisdom of the crowd to make sure that things get done by the right people and at the right time.

Each colony has its own token that represents a share of the ownership of the organization. Smart contracts are programmed to distribute ownership tokens according to the value each individual contributes. Contributors can later trade their tokens on the open market for cash.

Colony also comes with a reputation system that allows people to review and grade others’ contributed work. This system allows companies to choose the best candidates while enabling freelancers and experts to build influence and demonstrate their skills.

Colony: The “People Layer for the Decentralized Protocol Stack”

While Colony is building a reference client for its platform, the team very much thinks of the Colony protocol as infrastructure upon which other developers will build applications.

The Colony protocol, which is built as open-source smart contracts on the Ethereum network, is designed to enable developers to integrate decentralized and self-regulating division of labor, decision-making and financial management into their applications.

Du Rose described it as “the people layer for the decentralized protocol stack” and said he expects many companies and products to be built based on the software.

In the future, he hopes to see the protocol being integrated into a variety of applications. It can be used, for instance, to form the basis of a decentralized ride-sharing service, to handle claims in an insurance decentralized app or to provide the framework by which a merchants' guild coordinates in a virtual world, he said.

Moving forward

Colony released its beta in February of this year. The Colony Beta allows teams to create their own “collaboration network” and combines task management with payments and tracking features.

These features include automated cryptocurrency payments; USD, GBP and EUR payments with Stripe; integrations with popular tools including Slack, Xero and GitHub; a reputation system and a voting system.

Du Rose said that the team’s immediate focus is to continue to build out the network and client library, and “get them in the hands of as many people as possible.”

He said that an ongoing part of Colony’s medium- and long-term goals is focused on polishing the platform and improving the software in order to increase blockchain adoption, “not just for developers building on top of the Colony Protocol, but for the Ethereum developer community as a whole.”

He continued, “We see many challenges to usability in [the] blockchain space, and we don’t believe we’re going to achieve mainstream adoption of blockchain technology until we are able to offer the same quality of experience as centralized services provide.”

Companies and organizations around the world are beginning to explore the use of blockchain technology in project management. Russian government–owned development bank Vnesheconombank (VEB) is reportedly looking to launch a prototype for such a platform.

Speaking to Sputnik at the St. Petersburg International Economic Forum in May, the bank's chairman, Sergey Gorkov, said:

“When we started to think about how to manage projects efficiently, we realized that there is no platform. Everything that we had became obsolete. We realized that the blockchain is a good fundamental and qualitative platform for the future. [...] We have established a qualification center and a pilot project was launched. We are launching the first prototype in terms of project management this fall.”

The post Colony Moves Organizations, Companies onto the Ethereum Blockchain appeared first on Bitcoin Magazine.

Posted on 24 July 2017 | 2:00 pm

The biggest financial bloggers reveal their positions on bitcoin and cryptocurrencies - MarketWatch


MarketWatch

The biggest financial bloggers reveal their positions on bitcoin and cryptocurrencies
MarketWatch
“As a speculative instrument it's an interesting bet on its widespread acceptance as a medium of exchange, but we should be very clear that we are speculating when we buy bitcoin,” he said. “In this sense it is more akin to something you might gamble ...

Posted on 24 July 2017 | 1:56 pm

Start Your Hedging: LedgerX to Begin Trading Cryptocurrency Derivatives

New York startup LedgerX has received approval from the CFTC to trade cryptocurrency derivatives to institutional investors.

Source

Posted on 24 July 2017 | 1:40 pm

Major Wall Street analyst: Here's what needs to happen for the bitcoin boom to keep going - CNBC


CNBC

Major Wall Street analyst: Here's what needs to happen for the bitcoin boom to keep going
CNBC
Bank of America Merrill Lynch is the latest major Wall Street firm to issue a report on bitcoin. Commodities and Derivatives Strategist Francisco Blanch looked at the history of currencies. Based on precedent, Blanch still sees a major hurdle for ...

Posted on 24 July 2017 | 1:01 pm

Winklevoss Backed Gemini Exchange to Begin Daily Ether Auctions

Digital currency exchange Gemini is set to begin hosting daily ether auctions on Friday.

Source

Posted on 24 July 2017 | 12:06 pm

New Hampshire's Bitcoin MSB Exemption Law Takes Effect Next Week

A regulatory exemption for digital currency traders in New Hampshire is set to take effect next week.

Source

Posted on 24 July 2017 | 10:36 am

A Bitcoin Visa Card? Not So Fast - Fortune


The Independent

A Bitcoin Visa Card? Not So Fast
Fortune
A Singapore-based startup has big plans for digital currency: The firm, called TenX, intends to issue a pre-paid card that will "Take Bitcoin Into [the] Real World With Visa." Or at least that's what the headline says. According to Bloomberg, which ...
Visa cards could soon help Bitcoin work in the real worldThe Independent
Singapore Startup Takes Bitcoin Into Real World With VisaBloomberg

all 7 news articles »

Posted on 24 July 2017 | 9:49 am

Bitcoin Has Avoided Tearing Itself Apart (for Now) - MIT Technology Review


MIT Technology Review

Bitcoin Has Avoided Tearing Itself Apart (for Now)
MIT Technology Review
The good news is that Bitcoin's underlying software can be updated to allow it to handle more transactions. The bad news? Bitcoin's vocal user base has been radically divided about the best way to update the technology, in a clash that has in some ...
Here's why Bitcoin is reboundingBusiness Insider
Your ultimate guide to the upcoming fork that's splitting the Bitcoin communityTNW
How Bitcoin's Boom Raised Risk of Currency Split: QuickTake Q&ABloomberg
CryptoCoinsNews -PYMNTS.com -CoinTelegraph
all 53 news articles »

Posted on 24 July 2017 | 9:34 am

US Government Funds Blockchain Key Management Tool With $794k Grant

A blockchain startup has received new funding from the US government to develop blockchain key management solutions.

Source

Posted on 24 July 2017 | 9:30 am

Delaware Governor Signs Blockchain Bill Into Law

A bill that makes it legal to use a blockchain to register corporate shares has become law in Delaware.

Source

Posted on 24 July 2017 | 6:30 am

Crypto Assets Trade 24/7 – And That Changes More Than Uptime

New to cryptocurrency? You may want to make a closer look at how its charts and prices function.

Source

Posted on 24 July 2017 | 6:00 am

Hashed Health Blockchain Consortium Expands With New Member

A blockchain consortium focused on healthcare and led by startup Hashed Health has attracted a notable new member.

Source

Posted on 24 July 2017 | 5:00 am

Kosovo's First Bitcoin ATM Sparks Central Bank Warning

A new bitcoin ATM installation has sparked debate in Kosovo, where regulators and entrepreneurs are splitting opinion on the launch.

Source

Posted on 24 July 2017 | 3:00 am

Bold But Cautious: London Stock Exchange's Blockchain Work Is History Repeated

CoinDesk's Noelle Acheson sheds light on the LSE Group's history of innovation in capital markets, with bold moves tempered by sensible caution.

Source

Posted on 24 July 2017 | 2:15 am

What Coinbase's Cuba Problem Says About the Bitcoin Business

As travelers to Cuba can attest, an unfortunate reality of cryptocurrency services today is the poor customer support.

Source

Posted on 23 July 2017 | 6:40 am

Between a Rock and a Hard Fork: Jeff Garzik's Plan to Avoid a Bitcoin Split

Perhaps no coder is more at the center of bitcoin's raging scaling debate than Jeff Garzik – here he talks about the network's future.

Source

Posted on 22 July 2017 | 2:05 pm

Understanding Bitcoin's Scaling Debate: Politics Comes First

Cato Institute's Jim Harper argues that, since the scaling debate is so political, the community has something to learn from Washington, D.C.

Source

Posted on 21 July 2017 | 3:20 pm

Faster Payments? Startup Pitches Federal Reserve Group on Cryptocurrency

A new Federal Reserve report highlights creative proposals for how the central bank might adapt to changes in technology.

Source

Posted on 21 July 2017 | 2:30 pm

Bitcoin Price Analysis: Recent Bull Run Calls for a Level Head

Bitcoin Price Analysis

Over the course of three days, BTC-USD managed to climb $1,100 in value — a near 60 percent growth. Shortly after reaching a local high in the mid $2,900s, it immediately retraced down to the mid $2,700s where, at the time of this article, it is currently sitting. Is this price growth sustainable? Is there more bull left in this rally? I’ll attempt to break down this recent market move from both sides of the fence and show why investors should or shouldn’t be wary of a move of this magnitude.  

Full disclosure: This analysis will not attempt to speculate on the value implications within this ongoing scaling debate. This will be an objective, raw analysis of the data at hand.

Figure_1.jpgFigure 1: BTC-USD, 12-hr Candles, Bitfinex, Macro Bull Run

If we put this entire bull run into perspective, we see that upon the completion of the Head and Shoulders Reversal Pattern, the market retraced down to the 50 percent Fibonacci Retracement values before ultimately bouncing and immediately climbing toward the previous all-time high.

At the moment, BTC-USD has yet to see any significant pullback from its latest move to justify any semblance of considerably strong support. The importance of establishing support levels is crucial for a sustained, healthy bull run. A support level sends out a signal to investors that basically says, “Hey, the market is not likely to drop below ‘x’ value — your risk is lowered by buying at ‘y’ price.”  

However, without these firm support levels, investors don’t know where the price currently stands in the grand scheme of the market. Thus, uncertainty can be injected into the market even in times of strong bull rallies. This uncertainty often leads to early profit taking, panic selling and long-position capitulation (also known as a “long squeeze”).

To play devil’s advocate, one can make an argument for a bullish continuation of yesterday’s massive bull run:

Figure_2.jpgFigure 2: BTC-USD, 30-min Candles, Bitfinex, Price Consolidation

If we take the current trend out of the context of the entire market, it would appear to display characteristics of a bullish continuation pattern known as a “Bull Pennant.” Bull Pennants are characterized by having lower highs, higher lows and decreasing volume along the length of the pennant. A pennant of this magnitude would have a price target somewhere around $3,400. (For the sake of time, I won’t explain why that’s the price target. You’ll just have to take my word for it.)  

However, when we put the Bull Pennant into the context of the entire market, we see signs of market divergence starting to form on the higher timescales:

Figure_3.jpgFigure 3: BTC-USD, 4-hr Candles, Bitfinex, Bearish Divergence

On the 4-hr MACD, we see bearish divergence during the market move to $2,900. Divergence is an indication that the market has begun to lose momentum and is likely to pull back before any more uptrending will continue.  

In regard to a bullish continuation of this rally, something to keep an eye out for are the tests of the key Fibonacci Retracement values shown in Figure 1. A retest and strong rejection of the Fibonacci lines will show strong market confidence in the eyes of investors who are currently sitting on the sidelines. Before any sustained, healthy uptrend resumes, the market will have to prove itself at the lower values to establish firm support.

During massive rallies it’s important to always keep in mind that large price movements often come with a large cost. It is still unclear what the immediate future of BTC-USD will be, but it’s important to remain levelheaded when entering trades and always look at the market objectively.  

Summary:

  1. Over three days, the BTC-USD market gained 60 percent in value.

  2. No firm support has been established to justify remaining at this price level.

  3. Because there is no firm support, volume is beginning to taper off while the market decides the next direction to head to next.

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 BTC Media related sites do not necessarily reflect the opinion of BTC Media 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: Recent Bull Run Calls for a Level Head appeared first on Bitcoin Magazine.

Posted on 21 July 2017 | 1:09 pm

BIP 91 Has Locked In. Here’s What That Means (and What It Does Not)

BIP91.jpg

It looks as if Bitcoin is getting Segregated Witness.

Bitcoin Improvement Proposal 91 (BIP 91) just locked in. Up to 90 percent of all hash power signaled support for this soft fork, which implies miners intend, in turn, to trigger Segregated Witness (SegWit) activation. By extension, this should make BIP 148 obsolete and August 1 a non-event.

But SegWit is not certain. In fact, on a technical level, SegWit is not any closer to activation at all.

BIP 91

Segregated Witness, defined by BIP 141, locks in if at least 95 percent of miners (by hash power) signal support for the upgrade within a two-week difficulty period. To do so, miners need to embed a piece of data called “bit 1” in the blocks they mine.

Importantly, this is technically the only way for SegWit to activate right now. And this threshold has not yet been met.

But there are alternative strategies to try and trigger this threshold “indirectly” — like BIP 91.

BIP 91 is a Bitcoin Improvement Proposal proposed by Bitmain Warranty engineer James Hilliard. It is compatible with the New York Agreement and backed by a number of Bitcoin companies and mining pools. It is also compatible with BIP 148, another strategy to trigger the BIP 141 threshold indirectly.

Miners have been signaling support for BIP 91 over the past couple of days through another piece of data, “bit 4.” Once 269 blocks within a 336-block window included bit 4, this BIP 91 soft fork locks in. This threshold was just met.

This means that after another 336 blocks, a little over two days from now, all BIP 91–compatible nodes will reject any block that doesn’t include bit 1.

As long as a majority of hash power enforces BIP 91, this majority should eventually control the longest valid chain according to all Bitcoin nodes. And as this chain consists of bit 1 SegWit-signaling blocks only, it would in turn lock in SegWit on all SegWit-ready nodes by mid-August. SegWit itself should then be live on the Bitcoin network after a two-week “grace period” by the end of that month.

If all goes well …

What Could Go Wrong?

Although well over 80 percent of hash power has signaled bit 4 for BIP 91 lock in, this doesn’t actually guarantee anything. Most importantly, it doesn’t in itself mean that these miners will signal bit 1 for SegWit.

Indeed, so far, most miners don’t. Currently, the proportion of miners signaling bit 1 is still far lower than BIP 91 activation would suggest. It is even lower than 50 percent.

Moreover, BIP 91 will probably be enforced by hardly any economically relevant nodes; that is, nodes operated by users that accept bitcoins as payment. Almost no Bitcoin users on the network recognize BIP 91 or its bit 4 signaling at all, and will therefore continue to accept blocks with or without bit 1.

BIP 91 will, instead, be enforced by hash power alone. This in turn means that a majority of miners (by hash power) could back out of BIP 91 with little more than reputational damage. They could continue to mine blocks that do not signal bit 1, even after BIP 91 activates in a few days. As long as these miners are in a majority, they will still control the longest valid chain: valid according to most miners, and valid to most users.

Furthermore, any minority of miners and the few nodes that do enforce the BIP 91 soft fork would then be forked off the Bitcoin network. In a few days from now, these miners would mine (on top of) blocks that almost only they themselves would care for, while most of the rest of the entire Bitcoin network would completely ignore them.

With this week’s bit 4 signaling, a majority of miners have effectively made a statement that they intend to start to activate the SegWit soft fork within a couple of days. But for now, that’s really all it is: a very public, blockchain-based statement of intent.

Actual SegWit activation should start next week, if miners stick to their stated intent.

The post BIP 91 Has Locked In. Here’s What That Means (and What It Does Not) appeared first on Bitcoin Magazine.

Posted on 20 July 2017 | 7:20 pm

White Hats Step In to Save Funds from Vulnerable Ether Wallets

White Hats Step In to Save Funds from Vulnerable Etherscan Wallets

At 11:30 a.m. (CDT) on July 19, 2017, a hacker managed to steal 153,000 ETH (approximately $32 million at the time) from three Ethereum wallets by exploiting a vulnerability within the wallets' multi-signature verification. The affected wallets include the ones using Parity client version 1.5 or later.

According to a tweet by Project Lead Manuel Aráoz, the three multisig wallets first targeted by the hack were using Parity client version 1.5 or later, and included Edgeless Casino, Swarm City and Æternity Blockchain. However, Project Blocktix also reported a loss totaling 3,916 ETH. According to ETHNews, Blocktix.io was hit by a second attacker who exploited the same vulnerability.

A Swarm City blog post revealed that a group of white hat hackers managed to secure the remaining funds from the affected ETH wallets using the same exploit. The swift response of the white hat hackers allowed them to secure the funds of other vulnerable projects. Unfortunately, funds in the wallets of Edgeless Casino, Swarm City and Æternity Blockchain are completely lost, though the “white hat response team” managed to secure 6,272 of 10,188 ETH at Blocktix.io.

The White Hat Group announced on Reddit that they will create “another multisig for you [the affected users] that has the same settings as your [the users’] old multisig but with the vulnerability removed and we will return your [the users’] funds to you [the users].” The response team warned the Reddit community to be careful with donation addresses below their post since there are “a lot of phishers in the community right now.”

On July 19, Parity Technologies published a critical security alert stating there was a vulnerability connected to Parity Wallets. The users affected by the vulnerability included “any user with assets in a multi-sig wallet created in Parity Wallet prior to 19/07/17 23:14:56 CEST.” The company urged users to move all assets from the multisig wallets to a secure address. Wallets seemingly unaffected by the breach include Geth, MyEtherWallet and single-user accounts created on Parity.

Parity updated its post as of today stating that future versions of their multisig wallets are secure:

“Future multi-sig wallets created by versions of Parity are secure (Fix in the code is https://github.com/paritytech/parity/pull/6103 and the newly registered code is https://etherscan.io/tx/0x5f0846ccef8946d47f85715b7eea8fb69d3a9b9ef2d2b8abcf83983fb8d94f5f).”

Swarm City also posted information for users affected by the hack:

“If you do have funds in the multisig contract: carefully move your funds to a new account ASAP. If your funds are no longer in your multisig, please check the Black hat and White hat addresses. They might have been saved by the White hat group.”

To check on funds held by either the black hat or the white hat hackers, see the ETH addresses below:

White Hat Group’s wallet: 0x1DBA1131000664b884A1Ba238464159892252D3a
First hacker’s wallet: 0xB3764761E297D6f121e79C32A65829Cd1dDb4D32
Second attacker’s wallet: 0x1Ff21eCa1c3ba96ed53783aB9C92FfbF77862584

The hacks have not only affected the wallets of the victims but also the overall price of ether. According to Coin Market Cap’s stats, the price experienced a 15 percent drop from $234.94 (at 0:04, July 19) to $199.70 at the end of the day. However, ETH has since recovered to around $227 today.

The post White Hats Step In to Save Funds from Vulnerable Ether Wallets appeared first on Bitcoin Magazine.

Posted on 20 July 2017 | 2:01 pm

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

Consulting firm EY Switzerland accepts Bitcoin

Posted on 26 November 2016 | 12:47 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

Steam accepts Bitcoin

Posted on 29 April 2016 | 1:09 am

Microsoft accepts Bitcoin

Posted on 11 December 2014 | 5:06 am

Mozilla accepting Bitcoin

Posted on 20 November 2014 | 1:55 pm

PayPal and Virtual Currency

Posted on 23 September 2014 | 9:52 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

Expedia to accept Bitcoin payments for hotel bookings

Posted on 12 June 2014 | 12:41 pm

July 25, 2017 -
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