Bitcoin Price Indecision Weighs Down Chart

Bitcoin price was eagerly sold to a low just above $300 before advancing away from it in equally enthusiastic trade. Apparently stuck in a rut above the $300 security blanket level, the market may not move significantly until the Fed fires the lift-off starter-gun in December. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 14h09 UTC Bitstamp 1-Hour Chart From the analysis …

Hawaii Wary of Bitcoin Legalization

Although a number of proposals have been put forth by bitcoin exchanges, Hawaii’s Division of Financial Institutions is debating if Bitcoin ought to be legal. Hawaii is currently debating proposals put forth by a number of applicants looking to become ‘money transmitters’ or bitcoin exchanges, according to Iris Ikeda, the commissioner of financial institutions in Hawaii. The Pacific Business News reports that the state’s Division of Financial Institutions ‘has strong reservations’ about bitcoin, a cryptocurrency that is currently illegal for tender in the island state. Speaking to the PBN’s Kathleen …

5 More Banks Join R3’s Global Blockchain Consortium

The global consortium of major banks and financial institutions looking to tap into block chain technology and headed by New York-based technology firm R3 has five more banks joining the ranks, bringing to a total that now figures 30 global banks. Blockchain startup R3’s initiative to use blockchain technology in financial markets now has five more participants in a group that contains the world’s biggest banks. BSNP Paribas, the Canadian Imperial Bank of Commerce, ING, MacQuaire and Wells Fargo are the newest members in the consortium that now stands at …

Ben Bernanke Is Worried Terrorists Could Use Bitcoin

Former Federal Reserve chairman, Ben Bernanke, believes the technology behind Bitcoin is interesting, but threats from terrorists make it a problematic payment solution. Anonymity is a “bug,” he claims. In an interview with Quartz, published November 19, Ben Bernanke opened up about Bitcoin. “It’s interesting from a technological point of view. We’re in a world where the payments system is evolving quickly and new approaches to managing payments are proliferating, and some of the ideas around bitcoin will no doubt be useful in doing that,” the former Federal Reserve chairman …

Chamber Of Digital Commerce Urges G7 Not To Overreact To Paris Attacks By Stifling Bitcoin

The Chamber of Digital Commerce (CDC), based in Washington, D.C., has urged the Group of Seven (G7) nations not to enact virtual currency regulations that will stifle innovation in seeking to prevent future terror attacks like the one in Paris last week. The CDC is concerned that the G7 countries want to restrict virtual currencies because they suspect Islamic State terrorists used and continue to use bitcoin. Stifling digital currency innovation would be counterproductive for law enforcement, according to the CDC. It claims the block chain offers law enforcement …

Ghash / CEX Scaling Back Mining Pool

This time last year, CEX.io and its Ghash.io were a force to be reckoned with. The company had achieved nearly 51% of Bitcoin mining, albeit not directly but through the use of a pool. While allegations never were too loudly amplified that the company would use the power to conduct 51% attacks against the Bitcoin network, many were concerned about the decentralization of mining. The company was also the target of DDoS attacks as a result of its unapologetic approach to centralizing hashing power. Over the course of …

Bitcoin Trading Remains Cautious

Bitcoin trading has kept within a narrow range for the past three days, swinging price between $314 and $345. Intermittent sell-offs are followed by slower periods of buying, and for now there is no clear end in sight for this cautious cycle. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Trading and Price Analysis Time of analysis: 13h02 UTC OKCoin-3Mth 1-Hour Chart From the analysis pages of …

Breaking: European Union Crisis Meeting Planned to Call for Control of Virtual Currencies after Paris Attacks

Interior and justice ministers from the European Union have organized a crisis meeting this Friday to plan an effective crackdown of anonymous payment method and virtual currencies to curb terrorism funding. In a direct reaction to the recent Paris terror attacks, European Union countries have planned an emergency meeting this Friday in Brussels, Belgium, to convene and collaborate on ideas to implement and strengthen controls over electronic and anonymous payment methods. A draft conclusion obtained by Reuters notes that EU ministers will urge EU’s executive arm – the European Commission …

R3 Group Paper: Colored-Coin Watermarking Won’t Secure Off-Chain Assets

R3, a  bank consortium working to create industry standards for using block chain technology in banking, has released a paper claiming efforts to modify public block chains to secure off-chain assets using colored coins and metacoins do not provide secure, legal settlement finality of those assets. Titled “Watermarked Tokens and Pseudonymity on Public Block Chains,” the paper argues that a distributed public ledger that secures off-chain assets cannot be both legally authoritative and censorship-resistant. Written by R3 researcher Tim Swanson, the 78-page paper goes into a lot of detail on …

Bitcoin Machine Turns One Year Old In New Hampshire, Symbolizing The Libertarian Free State Movement

A bitcoin vending machine in front of a store in Keene, N.H. turned a year old last week, drawing people from throughout the region, according to the Concord Monitor in Concord, N.H. The machine, which could be the only public bitcoin vending machine in New England, draws attention from its association with the libertarian Free State Movement. Ian Freeman, a member of the Free State Project who hosts a live talk show, says people drive up from Boston, Mass. and New York City since the machine is the …