Monday, March 18Your Daily Bitcoin & Altcoin News Portal

BITCOIN

‘Buy Bitcoin’ Sign Raised as Fed Chair Janet Yellen Testifies Before Congress

‘Buy Bitcoin’ Sign Raised as Fed Chair Janet Yellen Testifies Before Congress

BITCOIN
As Federal Reserve chair Janet Yellen testified before Congress today, one attendee had some attention-grabbing advice: buy bitcoin. Yellen appeared before the House Financial Services Committee to give remarks on the state of the US economy and field questions from committee members. As chief of the US central bank, Yellen also spoke about a recent semi-annual report delivered to Congress by the Fed. And while Yellen made headlines by expressing her willingness to raise interest rates amidst a healthier economic climate (following years of near-zero rates instituted in the wake of the 2008 financial crisis), it was one attendee who drew notice on social media after he held up a “buy bitcoin” sign two rows behind where Yellen was seated. A screen grab of the moment was tweeted
CryptoGirl
Bitcoin Falls to Lowest Prices in 1 Month

Bitcoin Falls to Lowest Prices in 1 Month

BITCOIN
Bitcoin falls to near one-month low with $12 billion wiped off value since record high 30 days ago. Bitcoin hit a near one-month low on Wednesday and has seen more than $12 billion wiped off its value in the last 30 days, amid nervousness in the cryprocurrency market. The price of bitcoin fell to $2,272.32, its lowest level since June 15, when it slumped to $2,185.96, according to data from CoinDesk. The price did recover on Wednesday slightly to a high of $2,354.41. It’s also significantly off the $3,025.47 all-time high reached on June 11, just over a month ago. In this timeframe, its market capitalization or value has fallen by $12.2 billion. A major pullback is taking place at the moment in the cryptocurrency world after huge rallies. When bitcoin hit its record hi
CryptoGirl
Bitcoin’s Upcoming SegWit2x Splitted into Two in Test Environment

Bitcoin’s Upcoming SegWit2x Splitted into Two in Test Environment

BITCOIN, MINING
Controversial bitcoin scaling proposal Segwit2x’s testnet forked yesterday, creating two different and incompatible testnets. Nodes running older bitcoin software continued on as they normally would. But nodes running the new Segwit2x code stalled at block 27070, meaning mining pools running the new software were not mining blocks. Overall, the nodes were stalled for over 20 hours as a result of the issue. While there wasn’t any real money on the line, the community was abuzz with the news, some dismissing the controversial scaling proposal for perceived lingering issues, while others defended the misstep as only a small stumbling block that wouldn’t happen during a live deployment. The Bigger Picture of the Hardfork Some developers argue the fork is a symptom of a larger tr
CryptoGirl
BITCOIN
Austrian Post Offices Will Facilitate the Purchase of Bitcoin Many people still struggle with the concept of buying Bitcoin. That is not entirely surprising, as there is no convenient way to do so. Signing up for an exchange takes time and can be quite cumbersome, all things considered.That situation will come to change in Austria over the next few months. More specifically, several hundred Austrian post offices will allow users to convert Euros to Bitcoin over the counter. It is rather interesting to consider, one can soon buy Bitcoin from Austrian post offices. Around 1,800 locations will participate in this trial. Thanks to a partnership with BitPanda, users can directly exchange Euros for Bitcoin. Additional cryptocurrencies will be supported as well. For now, we know Ethereum wi
CryptoGirl
Why Bitcoin Proves the Naysayers Wrong and Continues to Expand

Why Bitcoin Proves the Naysayers Wrong and Continues to Expand

BITCOIN
Bitcoin has surged to historic value while its volatility has receded, according to an article in The Wall Street Journal by John O. McGinnis, a law professor at Northwestern University, and Kyle W. Roche, a lawyer at Boies Schiller & Flexner LLP. This has happened during a time when recent events might have caused bitcoin to lose value, such as the Security and Exchange Commission(SEC) rejecting a bitcoin ETF that would have allowed small traders to invest in bitcoin on the stock market. The SEC action resulted in obituaries for bitcoin, but the naysayers have been proven wrong. A big reason, according to the authors, is that many people distrust government currency and want to use bitcoin as a hedge or an alternative payment tool when government currency doesn’t efficiently pe
CryptoGirl
Israeli Official Urges Regulators to be More ‘Paternalistic’ Regarding ICO’s and Bitcoin

Israeli Official Urges Regulators to be More ‘Paternalistic’ Regarding ICO’s and Bitcoin

ALTCOINS, BITCOIN
An Israeli official gave a talk in Tel Aviv today regarding the challenges with regulating ICO’s and bitcoin. Professor Shmuel Hauser, Head of the Israeli Securities Authority, expressed fear and concern about cryptocurrencies. He seemed to see digital tokens as representing a threat, and he urged regulators to be more “paternalistic” in their oversight of ICO’s.  Investors Cannot Look After Themselves and do Not Understand Cryptocurrencies Hauser elaborated on his position, saying, “We have to address today what is happening with bitcoin, blockchain and ICOs that are challenging the current regulation around the world. It is here at the gates of the stock exchange. It is a new economy where the companies have no faces, and the investors have no faces. Our task is to get ready now in
CryptoGirl
Bitcoin and three other investments that look like classic bubbles but actually aren’t

Bitcoin and three other investments that look like classic bubbles but actually aren’t

BITCOIN
Bubbles? Those aren’t bubbles. Charles Schwab SCHW, -1.12%  global strategist Jeff Kleintop says there are plenty of red-hot investments out there that might look like bubbles, but, in reality, they just don’t fit the classic profile. “Bubbles typically bring risks for all investors, even those that don’t own the inflating asset,” he explained, “because they represent a broader market and economy that has become out of balance and dependent upon a flawed outlook.” Previously, these bubbles of the past have “inflated 1,000% over 10 years before bursting, cutting prices by more than half in the following two years,” Kleintop explained. By the time they eventually popped, these investments had become fixtures across investors’ portfolio. Hence, the sweeping impact of their implos
CryptoGirl
The Reason Why Bitcoin Miners Dedicate Time to Mining Empty Blocks

The Reason Why Bitcoin Miners Dedicate Time to Mining Empty Blocks

BITCOIN, MINING
Bitcoin mining is an intriguing subject that can sometimes be overwhelming to understand at first without some research. One particular subject concerning the topic of mining is empty blocks, and people often wonder why mining pools mine them. Revisiting the Empty Block Discussion Mining pools are groups of bitcoin miners that work together to find and verify blocks roughly every ten minutes. Most of the time blocks are filled with transactions that are waiting to be confirmed as soon as the miner finds a specific block. Miners are rewarded 12.5 BTC and all the fees associated with the particular block they find. In the early days, blocks were not that full because bitcoin wasn’t as popular as it is today. Lately blocks have been full, often to the maximum size of 1 MB. Blocks fille
CryptoGirl
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
CryptoGirl
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