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 …

Bitcoin Price Holds Above $300

As quickly as bitcoin price had dropped below it, the $330 level has been reclaimed and is currently supporting an unsure sideways price pattern. The outlook turns cautiously optimistic, but we see from similar price action, during September, that at least one more drop lower could happen before any return to advance. 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: 14h24 UTC …

UBS’ Blockchain-Based ‘Digital Coin’ Gains Funds Raised by Partner Clearmatics

The utility settlement coin developed by Switzerland-based UBS in partnership with Clearmatics Technologies has gained its first round of funding thanks to UK-based Clearmatics. The initiative to link real-world fiat currencies with central bank accounts through a ‘settlement coin’ gained traction after Clearmatics completed its first round of funding. The blockchain-based settlement coin, dubbed ‘digital coin’ is seen as a means to help establish the block chain in global finance and change the global payment system. As reported by Bloomberg, investors include Nyca Partners, Route 66 Ventures LLC and Tellurian …

Global Economic Outlook: Japan, US Dollar

With the central bank of all central banks approaching a rate lift-off, the US dollar is rearing to spring into a multi-year rally. Meanwhile, central banks in Europe, China and Japan continue devaluing their currencies in a last ditch attempt to spur inflation before the inevitable rates hike constricts global credit. Today’s GEO considers economic conditions in Japan and takes a look at the US dollar chart. This post is powered by the Bitcoin Trading Network xbt.social – CCN29 and get 29USD off! Economic Indicators World Indexes and Forex …

Taiwanese Regulators Now Take a Refrained Approach to Bitcoin

Following recent reports wherein the Taiwanese Financial Supervisory Commission (FSC) Chairman deemed Bitcoin deemed bitcoin illegal, the FSC and the country’s central bank now vide the cryptocurrency as a commodity. The two authorities will also step back from trying to manage bitcoin transactions. The stance is certain to be met with relief among Taiwanese bitcoin adopters. The chairman of the Taiwan’s FSC, Tseng Ming-Chung has today confirmed that the regulator and Taiwan’s central bank now see Bitcoin as a commodity while noting that the two agencies will refrain from trying …

BitBond Unveils a Bitcoin Version of “the Big Mac Index”

The Economist’s Big Mac Index is a financial instrument almost thirty years old, built on the theory of the Purchasing Power Parity. PPP essentially means that, over time, currency exchange rates should equalize such that identical goods cost roughly the same in any two countries. It is used to measure the value of currencies in that if more of a currency is required in one country than another to get the same thing, the local currency is undervalued by a certain percentage. The Big Mac Index uses a McDonald’s Big …