Saturday, July 4Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

Mark Karpeles Confirms the Existence of Auto Trading ‘Willy Bot’

Mark Karpeles Confirms the Existence of Auto Trading ‘Willy Bot’

BITCOIN
Former Mt. Gox CEO Mark Karpeles has admitted operating a so-called ‘Willy Bot’ (obligation exchange) before prosecutors in Japan. As Karpeles’ trial continues at Tokyo District Court, live rolling coverage is available online thanks to Kolin Burges, a Mt. Gox creditor and creator of action website mtgoxprotest.com. In a series of tweets today, Burges said that despite “super tight security” and a “small courtroom,” he was able to get a place inside, albeit without his interpreter. During the day’s proceedings, which spanned a morning and afternoon session, Karpeles claimed that running the Willy Bot was “for the good of the company so not illegal,” Burges reports. The bot earned its name from Mt. Gox traders concerned that the exchange’s volumes at its peak were the result of fr
European Commission’s New Report Finds Organized Crime Groups Rarely Use Digital Currency

European Commission’s New Report Finds Organized Crime Groups Rarely Use Digital Currency

FINANCE
A newly released report from the European Commission suggests there is relatively little virtual currency use among organized crime groups. Calling cases involving organized crime and the tech “quite rare”, the report was sent in late June from the European Commission (the European Union’s executive arm) to the bloc’s legislature as well as its body of national leaders. It was made public on July 4. The report’s authors argued that technological limitations – a lack of expertise especially – is behind the apparent low usage rates. They concluded: Few investigations have been conducted on virtual currencies which seem to be rarely used by criminal organizations. While they may have a high intent to use due to [virtual currencies] characteristics (anonymity in particular), the
Bitcoin-Friendly Stripe Strikes Major FinTech Deal with China’s Alipay, WeChat

Bitcoin-Friendly Stripe Strikes Major FinTech Deal with China’s Alipay, WeChat

ADOPTION
Silicon Valley startup Stripe has just announced a significant partnership with Chinese FinTech payments giants Alipay and WeChat Pay. The move enables merchants on its platform to receive money from hundreds of millions of Chinese consumers.  In an announcement today, Stripe has lifted the lid on a new ‘global’ partnership with Alipay and WeChat pay, two massively popular FinTech payments giants that see 92% of an estimated billion-plus Chinese population using digital payments in the country. The integration will now enable all Stripe merchants in over 25 countries make money from Chinese consumers. Alipay, the payments platform of Ant Financial – the financial arm of e-commerce giant Alibaba has over 500 million users on its platform. WeChat Pay, the digital payments platform of W
Cryptocurrency and Blockchain Era is Coming to Eastern Europe

Cryptocurrency and Blockchain Era is Coming to Eastern Europe

ADOPTION
Identifying with cryptocurrencies and the Blockchain technology has improved in the eastern part of Europe as lots of new start-ups and projects are now being introduced there. According to a crypto industry insider from Ukraine and CEO of Remme, Alex Momot, although most of these projects’ main contribution as of today center on technical help for other projects due to the lack of entrepreneurial talents and experience, the impact of the region on the burgeoning cryptocurrency market will gradually become more visible. From Russia to Ukraine, to Slovenia and others, Eastern European countries now hold a major pillar in the crypto space that stands between countries in the West and Asia which have been known to dominate the industry. Several events and initiatives have been introduced
World’s First Local Government Digital Currency HullCoin Could Launch This September

World’s First Local Government Digital Currency HullCoin Could Launch This September

ALTCOINS
Local currencies are nothing new and, local digital currencies are also a thing nowadays, with the Liverpool Local Pound (LLP) and the Local Pound, East London, for example, coming into existence this year, thanks to Tel-Aviv-based technology company Colu. These local digital currencies were created pegged to the pound, with each token being worth £1. Just like other local currencies, these were presumably created to incentivize locals to buy and sell locally. According to The Telegraph, during the 19th and 20th century, local currencies were even used to fill the void when national currencies and welfare systems failed. Now, a local government’s project may be about to come true, as HullCoin, according to the BBC, may be launched in September this year, if a bid for a £500,000 (
The Bank of England Tests Ripple’s Interledger Technology to Settle International Payments

The Bank of England Tests Ripple’s Interledger Technology to Settle International Payments

ADOPTION, ALTCOINS
The Bank of England has released new details about a proof-of-concept it has developed in partnership with distributed ledger startup Ripple. Among several fintech proofs-of-concept revealed by the UK central bank yesterday, one test involved Ripple’s Interledger protocol, designed to facilitate transactions between different distributed ledger systems. The trial centered on a cross-border payment scenario in which “two different currencies” were “executed simultaneously in two different simulated RTGS [real-time gross settlement] systems,” with blockchain potentially serving as means for synchronizing the settlement of transactions. According to its outline of the proof-of-concept, the Bank of England used the test in part as a springboard to investigate issues around liq
Mt Gox Founder Pleads Not Guilty in the Largest Bitcoin Theft

Mt Gox Founder Pleads Not Guilty in the Largest Bitcoin Theft

BITCOIN
Founder and former CEO of Mt Gox, once the world’s largest bitcoin exchange, has denied charges of embezzlement and data manipulation of customers’ bitcoins as his trial gets underway. 32-year-old French-born Karpeles appeared at the Tokyo District Court today to claim he wasn’t guilty of embezzling any customer funds stored at the exchange, according to the Japan Times. To the charge of embezzling a total of ¥341 million in customers’ funds between September and December 2013 into an account in his name, Karpeles stated the following, a prepared statement in Japanese: I swear to God I am not guilty. A pre-trial consultation saw Karpeles’ defense argue that the transfer of funds was, in fact, remittance that fell under the scope of Mt Gox’s revenue, rather than the embezzlement
Bitcoin Unlimited and Classic Hashrate Sees Boost

Bitcoin Unlimited and Classic Hashrate Sees Boost

MINING
We have seen multiple discussions regarding Bitcoin and scaling as of late. Not too long ago, Bitcoin Unlimited tried to make a name for itself. However, interest in the project started fading away a bit shortly after. It now appears the hashrate for Bitcoin Unlimited + Classic was around 54% last night. That is, in theory, enough to fork off the Bitcoin blockchain if they wanted to do so. According to NodeCounter, things are looking quite good for Bitcoin Unlimited + Classic. Yesterday evening, the network showed around 54% hashrate support for these solutions. It appears that number has already shrunk near 41% again. The recent stats indicate 41.7% of the total network hashrate is now favoring both solutions combined. That is a bit more in line with the numbers we have seen
Dash Price Technical Analysis: Drops into Critical Zone

Dash Price Technical Analysis: Drops into Critical Zone

PRICE ANALYSIS
Dash price declined and broke key supports against the US Dollar and Bitcoin, and now DASH/USD is back in the bearish zone below $185. Key Highlights Dash price after a ride towards the $225 level versus the US Dollar faced sellers and declined. There is a major bearish trend line with resistance at $185 forming on the hourly chart of DASH/USD (data feed from Poloniex). The price currently correcting higher, but might struggle to break the $180-185 resistance zone. Dash Price Resistance In the last analysis, we saw a decent spike in Dash price above the $190 level against the US Dollar. The price even broke the $210 resistance and traded towards $225 where it faced sellers. Later, the price started a downside move and traded below the $210 ad $200 support levels. The mo
Ethereum Price Technical Analysis: Hits a New 1 Month Low

Ethereum Price Technical Analysis: Hits a New 1 Month Low

PRICE ANALYSIS
Ethereum price made heavy downside moves against the US Dollar and Bitcoin, and ETH/USD might continue to trade lower may be towards $170. Key Highlights ETH price is under heavy selling pressure, and recently broke the $220 and $200 support levels against the US Dollar. There are two bearish trend lines with resistances as $204 and $225 forming on the hourly chart of ETH/USD (data feed via SimpleFX). On the downside, an initial support is near $186, followed by the $165 level.   Ethereum Price under Pressure There was a solid increase in selling pressure in ETH price as it moved below the $220 and $200 support levels against the US Dollar. The price even struggling to hold the $190 level and recently traded as low as $185.13 from where a minor recovery started. T