The Wall Street Journal Weighs In On Bitcoin’s Surge And What It Might Mean

Bitcoin is back, thanks to its spiraling price, and The Wall Street Journal, the U.S. largest financial newspaper, took note today with a headline proclaiming: “Bitcoin Frenzy Back As Epic Bust Fades.”   The article notes that this week’s 50 percent price jump recreates scenes from 2013 and explores the question of history repeating itself. The publicity in 2013 pushed speculative buying which drove the price from $13 to $1,100 before crashing. The reporter, with a careful eye to recent news, notes early on that bitcoin’s price volatility …

Developer Readies Bitcoin-Based Voting Machine For 2016 Election

Blockchain Technologies Corp., a New York City-based company that has developed a bitcoin ATM, has developed what it calls a secure, open-source voting machine that use the block chain to record votes, replacing existing proprietary voting machines that are vulnerable to hacking, according to Motherboard. With a distributed ledger such as a block chain, everyone who sets up a node on the network gets a copy of it. Under this system, network of participants track all entries, continuously verifying recorded activity to maintain the ledger’s integrity. How It Works …

China’s New National Economic Plan Seeks Innovation

China’s robust economy has lost some of its pace this third quarter, dipping below state-mandated expectations for the first time since 2009. Chinese President Xi Jinping spoke about the country’s five-year economic plan, citing technological breakthroughs and innovation as key targets. The long-term plan could spur the economy, even temporarily. The President’s words may be all smoke and no fire in an attempt to invigorate the stagnating economy.  It does unmistakably make for headlines. Innovation. That’s what Chinese President Xi Jinping is going for. Setting a marker for 2030, the …

Bitcoin Bandits Hit Atlanta Smoke Shop to Flee With Bitcoin ATM

In what may very well be the first stateside crime of its kind, two bold thieves walked up to a targeted smoke shop in Atlanta. One of them was armed. The other stole a Bitcoin ATM. Two hooded thieves made their way to the Village Smoke Shop on Juniper Street to steal a Bitcoin ATM on Tuesday evening. A surveillance camera at the store captured the robbery in its entirety. Store manager Amanda McCollum approached them as they struggled to drag the machine away when one of the thieves drew a …

What is Dogecoin?

Dogecoin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a cryptocurrency that could reach a broader demographic than Bitcoin. In addition, he wanted to distance it from the controversial history behind Bitcoin, mainly its association with the Silk Road online drug marketplace.

What is Litecoin?

Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Bitcoin, Litecoin creation and transfer is based on an open source encryption protocol and is not managed by any central authority.

Bitcoin Price Advance Picks Up The Pace

Another day and another overhead Fib line achieved in the persistent bitcoin price rally. Price has fallen back just below $500 and 3300 CNY, and looks certain to continue higher in the coming days. 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: 16h18 UTC BTC-China 1-Hour Chart From the analysis pages of xbt.social, earlier today: The indicator divergence is stupendous – have a look at the stochastics (second from top) flashing red on […]

The post Bitcoin Price Advance Picks Up The Pace appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Price Reaches $500

The march goes on. Bitcoin price strikes $500. The Bitstamp Price Index bulldozed its way beyond $450 earlier today and has now reached $500, a figure struck at 13:20 UTC. The increase in price charts a remarkable rise from the beginning of October when the price of bitcoin opened at $237.15. In a little over a month, the price has since more than doubled. Bitcoin price has today reached a high of $502 and has since decreased to $492.72 at the time of publishing.   Experts point to various reasons including the increased outflow of capital away from China. A stagnating economy […]

The post Bitcoin Price Reaches $500 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Illegal Online Bitcoin Poker Site Operator Fined $25,000

Bryan Micon, 37, former operator of bitcoin online poker site “Seals with Cubs” has plead guilty to a criminal charge for operating an unlicensed gambling system and fined $25,000 as terms of his sentence. In a landmark case and ruling involving a case connecting bitcoin and online gambling, the Clark County District Court sentenced Nevada native and professional gambler Bryan Micon to two years’ probation along with a fine of $25,000. Micon was facing up to ten years in a state prison and a $50,000 fine when he was charged initially. Under the terms, Micon also surrendered 3.0996 in bitcoin […]

The post Illegal Online Bitcoin Poker Site Operator Fined $25,000 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.