24 January 2017

Bitcoin Weekly News Summary 2017 W3 (16-22/01/2017)


This edition of BWNS is brought to you thanks to www.CryptoSteel.com . The coldest Bitcoin Hardware Wallet there is. But also the most hardened way to back up and preserve any kind of password safe and secure. Which is offline and pressed into a case of steel.

Bitcoin Average Exchange Price For The Week.


The BAEP in the third week of 2017, while still filled with volatility. Was not as bad  of a ride compared to week 2. Ride started on Monday 16 above $820 USD and then rose with a high of $834 and stayed without much movement at all after that. Tuesday 17 started pretty much as Monday ended with a low of $834 and then saw a huge rise up to $892 and ended up the day in a high of $909. Wednesday 18 showed up with a high of $912, only to then plunge back down to a low of $864 and finish with a small recovery to $880. Thursday 19 went on with a small increment to $895 and went off with a high of $908. Friday 20 arrived with a small decrease to $903 that still would serve as the high, continued with a dip to a low $891 and parted off with $902. Saturday 21 embraced the weekend with a small decrease to $899 that would serve as bottom of the weekend and then got it mood back up with a uptrend to $922, that then escalated to a high of $928. Sunday 22 continued in a good mood with $929, followed with a high of $940, but ran off steam and plunged down to a low of $900. Ending the week with a recovery to $922.

Most of the reactions of the price per Bitcoin still had strong links to the fallout of the PBOC oversight on Chinese Exchanges. As most of them eliminated margin trading and started the discussion of ending zero fees trading.  On top of that, Donald Trump inauguration took place, marking the beginning of the USA presidency of Donald j. Trump.




The North American Bitcoin Conference took place for its fourth year in Miami.

TNABC 2017 was still quite filled with a lot of Blockchain related stuff that was not at all about The Bitcoin Blockchain. That said, one of the relevant Bitcoin related news to come out from it was that Abra, will be launching worldwide in February with support for 50 fiat currencies.  Using Bitcoin as the backend. On what Abra is and why it is being seen as a big deal? Well, maybe because it is presumably many things at once in a single app. It is being heralded as paypal, circle and western union in one app. Whether it lives up to the hype of that description or it just becomes a competitor for startups like coin.ph, paxful, localbitcoin apart from coinbase and circle is yet to be seen. Some of the other highlights were presentations from MGT, Rootstock and Bitwage. All which can be watched right from this post.










The Third Annual Miami Bitcoin Hackaton results were finally known

Judged by  Bitstop ATM co-founder Doug Carillo; Bitcoin Uncensored co-host Joshua Unseth; Satoshi Labs CEO Alena Vranova; Breadwallet CMO Aaron Lasher; and local developer and tech educator Nelson Milian. These were the first, second and third place winners:

1.- BitTag – Geochaching game app of Tag with Bitcoin rewards.

2.- Coinbar – Querying of Bitcoin Data using the gimmicky Touch Bar in the new Apple MacBook Pro’s.

3.- Setbounty – A Chrome Browser App that allows to set Bitcoin Bounties for features and bug fixes in Github hosted projects.

For more on the hackaton. Click in.

Via Ariel Deschapell at CoinDesk


Japan Rises To 2nd Biggest Bitcoin Trading Country

Or so it seems. Or if it has, it is by a hair. If this is accurate that means both China and Japan are now ahead of USA when it comes to Bitcoin trading.  Making Asia the dominant force in this area of the Bitcoin Ecosystem along with Mining Pools, Mining Facilities and Mining Hardware development. This development should not come to as much of a surprise. Given that as it was reported in a previous BWNS edition. Japan now has two solid Bitcoin Exchanges and Bitcoin Payment Processing adoption on the rise along with those.


Via William Suberg at Bitcoinist.


Barry Silbert files to list the Bitcoin Investment Trust (BIT) on the New York Stock Exchange (NYSE) for a $500M USD Initial Public Offering (IPO)

This was done by Grayscale Investment LLC, that is a subsidiary of Digital Currency Group according to the SEC filling documentation records. BIT is what has been known as GBTC, that so far trades at a crazy premium on OTCQX. In resume, this means that the SEC will now have two Bitcoin ETF to considerate. One from the Winklevoss Twins known as (COIN) and Silbert’s (BIT) .


Via Lester Coleman at Cryptocoinnews


Coinbase Battle with USA’s IRS could cost up to $1M USD.

This according to a declaration given by CEO Brian Armstrong.

Still the right thing to do even if they are only really doing it as a PR move. If Coinbase were seen as just quickly giving up to the IRS, that alone would hurt its business for more than $1M USD. 


via Stan Higgins at CoinDesk


Daimler AG bought PayCash Europe, An Online Payments Company who also provides Bitcoin Payment Processing

As part of its Digitalization Strategy, Daimler AG bought PayCash Europe to use it as the backend for Mercedes Pay. Which seems to be an in-car ewallet service for their Mercedes Benz cars. Yet, buying PayCash could also then be used as the backend for other apps that Daimler AG is invested in like Car2Go and MyTaxi.

All of this is only really a good thing and good news for Bitcoin, if PayCash Europe not only keeps supporting BPP as usual. But also enables it as an option in Mercedes Pay, Car2Go and MyTaxi. Otherwise, this news will end up as either inconsequential or disappointing. Time will tell.


Via William Suberg at Bitcoinist


SatoshiPay Raised 640,000 EUR in funding.

Blue Star Capital was the venture capital firm that invested in the Bitcoin Micro-payment startup.

This makes only part of the funding being raised by SatoshiPay as they are targeting for a full 1 Million Euros in total funding.


Via Stan Higgins at CoinDesk


Bitpay’s Bitcoin Transactions reach an all time high.

It is now known that Bitpay Bitcoin Transaction movement surpassed the 200,000 transactions per month. And that means Bitpay transactional volume doubled in 2016.  Making for very good news. This means healthy growth when it comes to Bitcoin Payment Processing  as these numbers are only coming from Bitpay. And there are now 7 different Bitcoin Payment Processor providers around the world.


Via Andrew Quenston at Cryptocoinnews



Coinbase Co-Founder Fred Ehrsam is leaving.

Saying that he may be doing something in the Cryptocurrency space later. Which sounds conveniently vague. Kind of feels like he is not just leaving Coinbase, but also the Bitcoin Space.

Ehrsam also declared optimistically that he leaving is not bad and neither it will be when more people leave Coinbase. Something that already has been happening. Fred says it is just like what happened with Paypal. Where ex-employes went to do great ventures and got named a Paypal Mafia. Literally stating that ex-coinbase employees could later on be seen as the Coinbase Mafia. Implying all of the early Coinbase employees are bound to future great successes.


Yeah, that not arrogant and cocky at all. Not at all..

via Pete Rizzo at CoinDesk


Blockstream released a White Paper explaining the Strong Federations System. A Foundational piece to improve upon their Sidechain implementation project known as Liquid

The White Paper titled “Strong Federations: An Interoperable Blockchain Solution to Centralized Third Party Risks” details how to improve privacy, costs, speed of value transfers and settlement among exchanges and brokerages.

Material in question is too technical to summarize effectively without recreating the linked news report and the source article. Please click in to read more about it.

via Antonio Madeira at Bitcoinist

Source: Blockstream Blog


OkCoin and Huboi stop offering Margin Trading

As discussed on the price weekly recap. The effects of the PBOC oversight of Chinese Bitcoin Exchanges continued this week. With Leverage being the first thing to go away. Margin trading had to be second thing to go.


via Gautham at NewsBTC


UK Bitcoin Exchange Coinfloor starts offering Zero Fee Trading

Something that previously was only offered on Chinese Bitcoin Exchanges is now making its way up to this London based exchange.


Via Pete Rizzo at CoinDesk


Japanese IT Giant GMO entered the Bitcoin Exchange And Wallet Space

Previously already cornered the Bitcoin Payment Processing market in Japan. GMO has now decided to enter more Bitcoin markets and will offer a Wallet and Exchange offering, that they promise will be first level even to experienced traders. Not that hard to believe considering they are very experienced in the area of securities and online security. GMO also happens to be one of the biggest IT companies in Japan and its is now also known they are an investor in the currently regarded best Japanese Bitcoin Exchange Bitflyer. The very same one who did a mainstream worth video Ad campaign. One they were quite confident enough to pay to occupy the homepage of Yahoo Japan. Site which is still one of the Top 10 most visited sites in Japan.  Needless say, it is safe assume that Bitcoin is now Big in Japan.


via Luke Parker at BraveNewCoin


Coinbase gets granted New York State Bitlicense

Making them the third Bitcoin startup after Ripple and Circle to get one.

I wonder if they celebrated this or the celebration was just letting it be known they have one. Eh.


Via Michael del Castillo at CoinDesk


The Facebook Bitcoin Group reached 20,000 registered members

It took quite longer than anticipated versus The Google+ Bitcoin Community which is now at over 31,000 members. And the reasons were:

1.- Unlike other Facebook Bitcoin Groups around. TFBBG is tightly maintained. With over 2,500 members being removed via moderation over time. This because they were spammers or dummy accounts.

2.- Facebook introduced account auto-moderation in 2016. And it quickly removed well over 2,500 accounts from the membership during 2016 alone. Apart from that. Facebook also removed accounts that were not even into the community. The way I can tell is that their profile don't exist anymore, but they still appear as requesting to join.

I guesstimate that between facebook and moderation over 2000 more accounts were never even allowed in from the request list over 2016 up to now. That makes for a cut  of over 7000 account from the possible membership number tally.

So, that's that. But this is how there is also no spam or scams over there. Even when achieving that on a Facebook Group is x5 harder than in G+.

Link: The Facebook Bitcoin Group




Is Bitcoin making a dent into the Gambling Industry?

Kyle Torpey think so based on his findings and makes the case for that being the case. With the possibility that the future of Bitcoin and Gambling brightest point is yet to come.

Thanks to my experience managing two of the Top Bitcoin discussion sites. I can tell from that experience that Bitcoin Casino Affiliates post submissions and spam attempts do have increased significantly in the last 6 months.  I also have seen big gambling sites ads lately specify they do accept Bitcoin. So, I do believe that the outlook of Bitcoin in Gambling is a good bet. 


Via Kyle Torpey at Coinjournal


Bitcoin Uncensored Coverage of TNABC 2017

Bitcoin Uncensored really surprised everyone that cared to notice with the way they covered The North American Bitcoin Conference 2017. With them basically having their own Mini Conference within TNABC 2017. All with much of it happening on the bathroom facilities of the conference venue. No, you didn’t just read that wrong.  Chris DeRose and Junseth along with some great hosting help of Tone Vays and Riccardo “Fluffypony Spagni did panels by setting up a table and recording equipment inside the in-use and active Men bathrooms facility provided by TNABC 2017.  They of course went beyond Bitcoin Coverage and while all panels are worth a watch. The following ones are the ones I personally think deserve a share.


Since explaining the how, why and what of Bitcoin Uncensored would be in part spoiling the fun. Here are the videos from the panels without providing any further explanations.


Brian Hoffman from OpenBazaar


Roger Ver


Bruce Fenton


Theo Chino & Pierre Ciric


Nicolas Bacca

Moe Levin

Drew Vander Hink, Adella Toulon-Foerster and Jason Seibert

Ok, just one note. If you can only watch one panel. Watch this last one above with Tone Vays as host. It was something else, trust me.


Novelties & Humor


Have you ever wondered about just how seriously is Bitcoin being studied Academically and how many articles could you find about Bitcoin over the years if you went looking for them around the web?

Brett Scott sure did. He made a long list in a spreadsheet that anyone can take look at.

So, have a look. You know you are now curious.


Link: Bitcoin Academic Research


Bitcoin Hodlers: All about Popcorn and Chill



via Kevin Su


This edition of BWNS was brought to you thanks to www.CryptoSteel.com . The coldest Bitcoin Hardware Wallet there is. But also the most hardened way to back up and preserve any kind of password safe and secure. Which is offline and pressed into a case of steel.

That’s all for this week!

17 January 2017

Bitcoin Weekly News Summary 2017 W2 (09-15/01/2017)


This BWNS is brought to you by BraveNewCoin,  who have built an advanced Market Data Engine and API along with it that can provide you with a Bitcoin Index of Historical Data, a Bitcoin Block Weighted Average Price and a Bitcoin Liquid Index among many others things. Take a look, Contact BraveNewCoin and gather market insight.

Bitcoin Average Exchange Price For The Week



The price per Bitcoin was yet again the biggest news of the week. Just in the opposite way that is was on the first week of 2017. This time around, the price suffered a big dip. So much so, that you can perfectly call it a slam. Taking the price back to pre-rally days. Or to be more precise, to a month back into the past. 

With the high of the week being around $921 on Wednesday 11, And then just going on a free fall on Thursday 12 reaching the low of the week at around $762. Friday 13 saw a bounce to around $830 and yet another pull back to around $790. Saturday 14 got a stronger bounce, as it held this time around. Keeping the price on a ride above $820 and up to around $840. Sunday 15 ended the week with less pullback taking the price below the $820 level. But over all keeping above that level.

The factors affecting the price were all derived around more Fear Uncertainty & Doubt from China. 

What started on the week 1 of 2017 as FUD from China which killed the rally. Ended up becoming monster FUD as meetings of Chinese Bitcoin Exchanges with the PBOC were met with a few grossly misreported articles that classified the meetings as “raids” and “crackdowns” . Which caused all newcomers to get weak hands syndrome and panic sell. Which in turn added tons of nerves to traders which made them to slow down. Something that affected the price even more.

Some of the effects of these meetings with the PBOC could be perceived right away. As one of the big changes that came from it was that Chinese exchanges stopped offering crazy amounts of leverage.  Another effect seemed to have been about they now having to keep fake trading in check. Whether that means the Chinese exchanges are adjusting how they account for trade volume or something else. That is unclear. Nonetheless, Exchange Volume going down during the week in China let a few inquiring traders to see some interesting patterns. With more than one interpreting them as China real exchange Volume being really only about 40%. The evidence to support this cannot be called out as all conclusive, yet one of the points in favor of the theory is that Price per Bitcoin really got slammed when western countries started to panic about badly reported news from China. Instead of tanking immediately as insiders in China got to know about it.



It may not have seen like it. But the second week of 2017 was filled with news. To the point that this BWNS will be all about just News.


Julian Assange read out a block hash from the Bitcoin Blockchain to prove he is alive

In order to finally put a rest to the loud cries of concerned wikileaks supporters. Julian Assange read out some proofs that he is alive while on a video stream used to conduct an Ask Me Anything thread on Reddit. One of the proofs, and the coolest one, was of course using The Bitcoin Blockchain. The block called out was #447506.

via Justin Connell at News.Bitcoin.com

Backpage shuts down its Adult section in the USA. Not without loudly calling out censorship and pressure from USA government

One of the things that pretty much created a niche market for Bitcoin when it comes to personal listings. Was without a doubt the fact it is the currency preferred by Backpage once all other kinds of payment processors were forced to drop them. 

This week, they shut down the Adult section. Does this mean the escorts that were using it went to another site? No. It simply meant that the Dating Section got a whole lot grayer.  Because as everyone knows. Markets just don’t die if there is a demand for them.

So far, the only change was in optics and process.

To read more on the details, check out the news report.

Via CBCNews/ Reuters

A Report estimated that 10 Million people hold some amount of Bitcoin

The report was a joint effort by ARK Invest and Coinbase. While it cannot be proved as certain enough. It makes for good speculation and headlines. The main giveaway is that according to this report. Most people just hold Bitcoin as an alternative store of value than use it as currency. This only really actually states that the argument of Bitcoin being a store of value could now be considered no brainer in both practice and theory. This does not negates that Bitcoin is still a currency too. Among other things.  It just shows that Bitcoin being considered a store of value, or in other terms being perceived as a commodity is one of the most prevalent notions.

Via Kyle Torpey at Coinjournal

Bitcoin will not be banned in Russia. It is now perceived as a private currency

Is the central takeaway out of news from Russia’s Central Bank and Federal Financial Monitoring Service. Another reason on why the band will not be made is simply because it is quite hard to do effectively and without bringing a lot more attention to it.  In Russia, something getting banned is almost like advertising it. So, am not surprised Russian Authorities have now realized that.

Via Samburaj Das at Cryptocoinnews

Pantera Capital has a new $25M USD VC Fund. Will invest in Brave Browser and Abra

Previous investments from Pantera Capital have been Bitstamp and Xapo. Which so far proved to be good call. Another investment in the Bitcoin space was the now defunct ChangeTip. Which as far as I know, they lost money on. Investing in Brave Browser can almost be seen as a replacement investment to the one they did in ChangeTip. Since the goals of the startups are similar in their use of Bitcoin. Both Brave Browser and Abra are far riskier investments than Bitstamp and Xapo, that is for sure. But if they were to work out, they got some really good reputation cache and a decent possible return.

Other Pantera Capital investments in the Bitcoin & Blockchain Spaces have been the provenance geared startup Chronicled. And the now only partly Bitcoin related fintech startup Circle.  Regardless of how things go for Pantera Capital is still a very positive thing they are investing in the Bitcoin Space in one way or another.

Via Antonio Madeira at Bitcoinist

Blockchain.info got a new logo. It is OK.

Some people hated it. Other liked it. Most are quite Meh about it.  In my case. I don’t can even decide.  The only thing I am sure of it is that it reminds me of the Delicious Bookmarks logo. One thing that can be said is that it is good it is at least OK. After all Blockchain.info is still the #1 Bitcoin Wallet in terms of registered users.  This has been BC.info fifth Logo.




Via Blockchain.info Blog

In January 12th of 2009, The late Hal Finney was the first recipient of Bitcoins in what was the very first public Bitcoin Blockchain transaction.

Hal Finney died of ALS in August 28 of 2014 and was then put into a cryopreservation state. He can be seen as the founding co-developer of the first working versions of both PGP and Bitcoin. His input no doubt was essential in getting Bitcoin off the ground to a good start.

Further reading

Jonas Schnelli, Bitcoin Core Developer and Co-founder of the Digital Bitbox Bitcoin Hardware Wallet, tweeted about just how much development was done on Bitcoin Core in 2016.

Needless to say, a whole lot.

Google Searches of Bitcoin reached an all time high on India

In terms of Bitcoin awareness, there is no doubt that it has increased a lot in India. Google Searches Trends, while not something to be taken too seriously. It is still a positive indicator.

via Andrew Quentson at Cryptocoinnews

Anthony Murgio pleaded guilty to operating an illegal Bitcoin exchange

The Bitcoin exchange in question being Coin.mx. Which at one point was well known in the Bitcoin Space.

Charges on the illegal activity tied him to Money Laundering and facilitating fraud. But this is just tip of the icerberg when it comes to his story. Click on to read more on what is quite an interesting read.

Via Lester Coleman at Cryptocoinnews

21 Inc CEO Balaji Srinivasan met with Donald Trump as one of the two contenders to lead USA’s Food & Drugs Administration

Not that surprising once you learn Balaji background in the Medicine Industry previous to his Bitcoin venture.

As an interesting note for Bitcoiners. If he were to form part of the USA government under Donald Trump. This would be the third person in the Trump Administration with a few links to Bitcoin.

Via Joseph Young at CCN

An Alpha release of The Lightning Network Daemon became available

Another milestone in the development progress of LN was achieved making it now easy for interested developers to test it.

There are lot of important details about it if you are interested

Via The Lightning Network Community Blog 

BitX rebranded to Luno. Because they say they want to help Bitcoin reach the moon

Only thing verifiably true about that statement at the time of this news is that Luno does mean moon in Esperanto.

BitX, now Luno is a well known South African Bitcoin Exchange. One you get to meet again. So far with they saying is all regular business as usual and they are all about Bitcoin.  With the excuse for the rebrand being that they don’t want to be seen as just an exchange and also all being due to timing as they are now looking to expand to the European market.

Eh, another week, another Bitcoin Startup rebrand.  Or at least that how 2017 feels so far.

Via the BitX, I mean Luno Blog

Bitcoin Merchant Adoption in Japan has grown at least 4X since one year

This according to a recent Survey. Putting the total amount of shops that accept Bitcoin to 4,200 shops.

However, it is unclear how these shops are being counted. That said, I think the premise of the news of a 4X+ jump in Bitcoin Adoption compared to one year ago is no doubt highly plausible. Specially since Japan now has two solid Bitcoin Exchanges in Coincheck and Bitflyer. And has even saw the appearance of a small Bitcoin Themed reality TV show there among several other news. 2016 was very clearly the year Bitcoin got traction in Japan again.  It looks like 2017 at the very least will keep things moving forward in a upwards trajectory.

Via Olesegun Ogundeji at Cointelegraph

How Chinese is Bitcoin? – Part 1: Trade Volume

Is the question that Neil Woodfine, who also happens to be Bitcoin Beijing Meetup organizer wants to answer. Starting by looking at Trade Volume.  Very recommended read as this also serves as an explainer on this week news explained in what happened when it came to the price per Bitcoin.

Via Blockunchained.



This BWNS is brought to you by BraveNewCoin,  who have built an advanced Market Data Engine and API along with it that can provide you with a Bitcoin Index of Historical Data, a Bitcoin Block Weighted Average Price and a Bitcoin Liquid Index among many others things. Take a look, Contact BraveNewCoin and gather market insight.


That’s all for this week.

09 January 2017

Bitcoin Weekly News Summary 2017 W1 (01-08/01/2017)


BWNS is back! Thanks to those that have helped to bring it back.


Bitcoin Average Exchange Price For The Week


The price per Bitcoin was no doubt the main news event for the first week of 2017. With it starting out on a dramatic rally from the day 1.

With a high of $967 USD on Sunday of January 1st that then went on to be an almost 5 days streak that took it to a high of $1154 on Thursday 5. But it also then saw it have a hard correction, which you can categorize as a dive, that brought it back to around where the rally started with a low of $959 and a high of $1033 on Friday 6. That almost signaled the price level could reach back to the high of the week. But this was not to be and instead it took another dive to the bottom of the week on Saturday 7 at a low of $831. All in all the first week of 2017 ended with a recover from that bottom to a respectable high of  $940 on Sunday 8.

With the factors affecting the price so wildly being many. You can only really call on the ones that made the price drop. Those in question being among other things: 1.- Profit taking from people that had bought high as far back as December 2013, 2.- Coinbase having issues where they said they could just not keep with the traffic demand on their domain, 3.- BTC-e reportedly having some issues where some users could just not log in or could not execute their trades if they happened to be logged in; 4.- Communication from China’s Government calling out Chinese Bitcoin Exchanges that was badly translated or maliciously interpreted which quickly turned into spooky FUD that gave traders in China pause and made traders not on China somewhat nervous. 5.- Chinese Yuan Stopping its devaluation path for a few days and instead gaining back some ground. With all of that killing the uptrend in the Bitcoin Average Exchange Price.

Having said all this, it is good to put in perspective that even if the price ended up below $1000. Price levels are still around what they were just weeks or so ago.

When it comes to other price specific news: There were a few like:

- All Time High in Euros

- All Time High in Yuan

- Bitcoin MC/NSM for a few brief moments reached $19 Billion USD.



The European Parliament and The Council of the European Union proposed amending a directive related to money laundering and terrorism financing to include in Cryptocurrencies.

To what I only ask: Is anyone surprised of this?

via Lester Coleman at Cryptocoinnews

Bitpagos raised $1.9M USD out an intended $2.3M USD mark via Angelist. Rebrands as Ripio

The plan being to further span across Latin America and even aim to enter into Mexico.

When asked about the rebrand, the reason given was that they wanted a brand that fit with their desire to offer many services to all kinds of users and not just B2B payment processing for Merchants.  This answer being important since in the Bitcoin space rebrands during 2016 got associated with either the startup pivoting off being a Bitcoin Startup into a more run of the mill Fintech startup or integrating altcoins.

Right now all pointing out to just an understandable rebrand instead. While continuing to have Bitcoin as its core focus.

via Stan Higgins at Coindesk

Microsoft will add Bitcoin support to Excel 2017 in a future Office 365 update

Also fully describing Bitcoin as Currency, the upcoming 2017 update will allow Excel to be able to recognize, format, calculate and analyze numbers expressed in Bitcoin currency. The new feature will be available for Excel running under Windows 10, Android, Mac OS and iOS, and will include Excel Mobile versions as well. This as stated by Martin Butler, an Account Executive at Microsoft. While this news stems from 22 of December post. It was not until this week that the news caught up attention.

via Martin Butler from a LinkedIn Pulse Post

Bitcoin banned in Colombia?

In my opinion, it is unclear that’s the case. Likely it is not so officially as that would need to be explicitly stated as so by the Bank of Colombia or a high rank government official. What can be argued is that it just became a grayer currency in Colombia. All because of scams perpetrated that used Bitcoin as part of pyramidal scams called “investments clubs’' that have brought the attention of the Colombian Government. Which only stated as much as saying that the only legal tender in Colombia is the Colombian Peso. 

via Evander Smart at Bitconnect.co

Jeffrey K Berns Files Second Motion to Oppose IRS Investigating Coinbase Users

In the news saga that is Coinbase vs the IRS desire to get all of Coinbase’s USA based users data for 3 years in Bulk without any regards of privacy in one go. It is now known that Coinbase is fighting it. But there is a USA based Coinbase user fighting the IRS on it on his own. Normally that would be quite a risky thing to do. But in Jeffrey K Berns it is not just the right to do. But also kind of what he does anyway. Since he happens to be a Well leveled Lawyer fond on fighting branches of the USA government in court. However, it is clear it helps a lot if he happens to be clearly in the right like it is in this case. So much so, that his first motion drew a direct response from the IRS which pretty much exempted him from the whole deal with Coinbase. Jeffrey Berns now argues that his point was not to save himself, but to not let the IRS be unfair. Meaning he will continue to fight them on. While there is no clear sign he can win. It is a commendable stand to take from him. Let’s hope it helps out.

Via JP Buntix at The Merkle

Bitcoin turned 8 Years Old

As of January 3 of 2017, The Bitcoin Network got to 8 years of running non-stop for everyone and everywhere.

8years by CryptoGraphitti


PBOC statement that was taken out of context, turned in to FUD and helped kill Bitcoin Average Exchange Price fast uptrend during the week resulted in much ado to nothing

The only clear things that the People’s Bank Of China said were: 1.- that Bitcoin is no legal tender in China, 2.- Bitcoin is volatile, 3.- Chinese exchanges must have strong  KYC/AML practices; 4.- Chinese Exchanges should not fake volume. 

Via JP Buntix at The Merkle

A new Bitcoin focused documentary movie by Gravitas Ventures called Banking on Bitcoin debuted on iTunes and Vudu.

I have now watched it. It is good enough for all kind of Bitcoiners. Really good for those that aren’t just like it is the case with past Bitcoin focused Documentaries. It basically recalls Bitcoin History while mostly trawling around late 2013 to late 2015. Done in a similar way to how it was done by The Rise and Rise of Bitcoin.  It almost works as an unintended sequel of sorts.

The movie will also be available later on Google Play and Amazon Video.


Link: Banking on Bitcoin

Brian Armstrong now wants SegWit to be activated. Finally clarifying his position on the matter

As the CEO of Coinbase. Brian Armstrong opinion on everything Bitcoin carries public perception weight whether anyone likes it or not.

It now appears that after Charlie Lee has been advocating for the activation of SegWit on Twitter all week. Brian Armstrong has felt confident enough to declare his support for the idea.

/r/Bitcoin reached 200,000 subscribed members.

Around the same time one of the posts in /r/Bitcoin reached up /all/ and The Reddit frontpage. Making it so that /r/Bitcoin at one point had over 7000 people logged at the same time into the subreddit. Probably also a new record.



Bitcoin Adoption Accelerating In Mexico?

I say yes and so does Bitso, which is now apparently the #1 Bitcoin Exchange in Mexico. Localbitcoins and paxful usage in Mexico has also grown and in general there are now more ways to use Bitcoin in Mexico. Some do require bridging services though.

It does makes sense for Bitcoin usage in Mexico to be growing faster. Specially now that everyone in Mexico has the burden of some really harsh mandated price increases without clear reason and transparent disregard for most Mexicans well being. Which happens to be the case of the sudden 20% price increase in GAS that came in effect on January 1st of 2017. One that will assure inflation for the year on most goods, many services and transport to also go over 20%. Add to that that some Mexicans in the USA are always looking for better remittance options. Bitcoin usage in Mexico increasing is a sensible development.

via Luke Parker at BraveNewCoin.

ValueShuffle : A new way to mix Bitcoins and hide the amounts involved in the process.

Interesting first look at all about it by Aaron van Wirdum at Bitcoin Magazine

LocalBitcoins volume grew 85% during 2016, Why is that important

As reported from coin.dance numbers.

Is the case that Kyle Torpey makes over at News.Bitcoin.com

Bitcoin usage is growing on Indonesia

This according to Indonesia’s biggest Bitcoin Exchange.

via Kevin Helms at News.Bitcoin.com

Novelties & Humor



Back in 2013 when the price per Bitcoin first reached $100 USD. I started posting excited cat photos with the price highlights.  Something I have kept going when I feel it makes sense to do so. I call them BAEP Cats.  When Bitcoin got up to $1000 and $1100 again. I released new BAEP Cats for those two occasions. Here they are:



Bitflyer did a series of Bitcoin Video Ads and put one on Yahoo Japan Homepage.


I liked them. Here is one:


LineRider Bitcoin Technical Analysis


Seems legit.

During the BAEP rally this week. /r/Bitcoin got a bit out of control.

ThePiachu, one of /r/Bitcoin Admins highlighted the madness by…posting this photo to /r/Bitcoin. I mean, makes sense right?



That is all for this week.



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