Bitcoin Roundup March 15, 2016

Microsoft Backs Away From Bitcoin – Fortune

Back at the end of 2014, Microsoft MSFT 0.19% started allowing many people to pay money into their accounts using bitcoins. However, it has now quietly removed the option.

As Softpedia noted, Microsoft has put out a brief noticeonline, reading:

“You can no longer redeem bitcoin into your Microsoft account. Existing balances in your account will still be available for purchases from Microsoft Store, but can’t be refunded.” 

After the Satoshi Roundtable, is there a way to bridge the bitcoin divide? | TechCrunch

A recent rift amongst the developers of Bitcoin, which originally started with a question over increasing the so-called block size (so that throughput of transactions can be increased), exposed deep divides about distributed governance; and has now ironically led to entrenched positions, flared tempers, public insults, accusations and disparaging remarks.

The opposing views of those advocating for preserving the current implementation of Bitcoin (Bitcoin Core), and those who believe that the block size needs to be increased immediately to overcome scalability challenges, has balkanized the Bitcoin developer community into mainly two camps. 

Building the Bitcoin Ecosystem: Privacy Edition | Cato @ Liberty

Many in the Bitcoin community seek increased financial privacy. As I wrote in a 2014 study of the Bitcoin ecosystem, “Bitcoin can facilitate more private transactions, which, when legal in the jurisdictions where they occur, are the business of nobody but the parties to them.” That study identified “algorithmic monitoring of Bitcoin transactions” as a rather likely and somewhat consequential threat to the goal of financial privacy (pg. 18). It was part of a cluster of similar threats. 

Cryptsy Reveals Stolen Bitcoin Recovery Reward ‘Contract’ – CCN: Financial Bitcoin & Cryptocurrency News

In a bizarre twist to an already contentious saga surrounding controversial cryptocurrencyCryptsy, CEO Paul Vernon or ‘BigVern’ has revealed a reward contract between Cryptsy and ‘Cryptcracker’ that will see the latter get a reward in exchange for recovering coins that –according to the exchange– were stolen from Cryptsy.

Cryptcracker, who is shown to potentially and benevolently return the 13,000 stolen bitcoin has agreed for the base reward at 13.4% of the recovered bitcoins, even if the recovered sum is lesser than the total ‘stolen’ sum.

Gold, Bitcoin And Economic Freedom | Seeking Alpha

Bitcoin receiving heat despite not being anonymous.

Other cryptocurrencies are offering better anonymity.

Like gold, Bitcoin has ideological demand.

Cryptocurrency can compete with your gold savings.

Watch this space. 

Bitcoin Price Technical Analysis for 14/03/2016 – Short-Term Selloff Due? – NEWSBTC

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. This means that bitcoin price could still test the previous highs at the $420-245 area.

However, RSI is pointing down so price might follow suit, moving down to the area of interest around $410. A break below this level could confirm that further losses are in the cards. The chart formation is around $30 tall so the resulting breakdown could be of the same size, taking bitcoin price to $380.

Meanwhile, stochastic is pointing up so buyers might still be in control of bitcoin price action. In that case, a move past the previous highs might still be possible unless the oscillator reaches the overbought zone and turns lower soon. 

Bitcoin and blockchain startups booming in Israel » Brave New Coin

Israel is a well educated middle-eastern country with a population of only 8.4 Million and GDP of almost US$300 Billion, of which their technology sector accounts for 15.7%. Startups contribute an unusually large portion towards these numbers, and lately, this trend has manifested itself as an unusually rich and constant stream of bitcoin and blockchain companies.

So many well-funded local startups are focused on blockchain business that Deloitte recently created a report focused on the Israeli blockchain business scene. Deloitte’s professional network provides financial advisory services to over 225,400 professionals around the globe, generating US$35.2b in revenue during 2015.

The report illustrates in clear detail that growth of bitcoin and blockchain startups in Israel has been pushing forward faster than anywhere else in the world, outside of silicon valley, at least. 


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