Options Exchange Giant Cboe Reveals Bitcoin Futures Specs

Options Exchange Giant Cboe Reveals Bitcoin Futures Specs

Over the past two weeks, many bitcoin proponents have been focused on the upcoming bitcoin futures markets planned for the last quarter of the year. This week the Chicago Board Options Exchange (Cboe) released the firm’s bitcoin derivative contract specs for investors interested in this new trading vehicle. The author of the futures spec sheet, Cboe’s CFA Russell Rhoads, says he really doesn’t know how futures prices will affect bitcoin spot market prices.

Also read: Chicago Options Exchange Getting the Bitcoin Bug: “We Believe” says President

Cboe Reveals Bitcoin Futures Specs With the Underlying Ticker Being XBT

The largest options exchange in the U.S., Cboe, is planning to launch its bitcoin futures products in Q4, alongside CME’s recent efforts to launch its products. Cboe swaps over $2B in annual contract trade volumes, and offers derivatives products for 2,200 companies, 140 ETFs, and 22 stock indices. Now, Cboe is dipping its toes into bitcoin’s trading waters by creating futures contracts utilizing a partnership with the bitcoin exchange, Gemini Trust Company, LLC. Two weeks ago Chris Concannon, Cboe’s President, and COO explained the firm is a “believer” in cryptocurrencies.

Cboe’s bitcoin futures specs detail the underlying ticker will be called “XBT,” and contract settlement values will be in XBTS. The firm explains products will have multiple contracts with several expiry cycles and also four serial expirations.

“The contract multiplier will be 1 so if a contract is trading at parity with bitcoin it will be worth about $7,900 based on current pricing — The minimum tick for a directional, non-spread trade is 10 points or $10, and a spread trade will have a much smaller tick of 0.01 bitcoin or $0.01,” details Cboe’s CFA Russell Rhoads.

Cboe’s CFA Doesn’t Know How Futures Prices Will Relate to Spot Bitcoin Pricing

Cboe CFA Russell Rhoads.

The U.S. options exchange will operate trading hours between Sunday night at 5:00 pm to Friday afternoon at 3:15 pm Chicago time. Cboe will be offering extended trading hours for its bitcoin futures as well, and everything will be cash-settled based on the Gemini auction price for bitcoin in U.S. dollars. Rhoads also explains he is asked quite frequently, “How will the futures prices relate to spot bitcoin pricing?” Cboe’s CFA reveals he doesn’t know what will happen, stating;

The best (and most honest) answer I can give is, ‘I don’t know’ — I’ve done academic work on the launch of newly listed products in the past and prior assumptions about new markets often are off the mark.

“I’ve heard arguments for the futures trading at both a premium and a discount to the spot price, personally I think the best strategy is to see what the market tells us when bitcoin futures are available for trading,” Rhoads emphasizes.

Cboe will soon join the other firms like LedgerX and CME Group’s efforts to create a bitcoin futures environment. The Chicago Board Options Exchanges’ bitcoin futures specs were announced after CME revealed they made an error on the firm’s futures launch date. It’s possible Cboe may offer crypto-derivatives options before its competitor CME.

What do you think about Cboe’s futures specs? Are you looking forward to crypto-derivatives markets or do you want these market players to stay away from bitcoin? Let us know in the comments below.

Images via Pixabay, Cboe, and Linkedin.

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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OKEx Responds to Bitcoin Theft, Says Exchange is Safe

OKEx Responds to Bitcoin Theft, Says Exchange is Safe

The news about OKEx accounts being attacked has spread quickly in the last 48 hours and caused heated discussions in China. Consequently, OKEx published an official announcement on Oct. 2. In the announcement, the exchange expresses confidence in its security system, explains the possible causes of the theft, and requires users to improve their security settings.

OKEx states that its security is reliable and it has blocked all withdraw operations done by attackers. However, in order to better protect accounts, users should enable Google authentication. What’s more, OKEx lists several possible causes for the theft and provides suggestions about how to avoid other potential security threats.

The full content and translation of OKEx’s announcement are provided at the bottom of the article.

A little history

Security has been a serious issue since Bitcoin’s birth. For instance, in December 2013, some cyber thieves broke into Sheep Marketplace and stole 96,000 Bitcoins which were worth about $56.4 mln. Because of the very nature of Bitcoin, it can be quite difficult to store safely. This goes for exchanges, too.

Unlike the traditional financial system, there is no third party that can reverse a charge or restore your account balance if you lose Bitcoins or have them stolen. Users are responsible for their own security. Bitcoin holders without professional knowledge about cryptocurrency should choose a reliable platform to save and trade their Bitcoins and other cryptocurrencies.

Secondly, Bitcoin holders with a large number of Bitcoins should be more vigilant about not only their accounts’ security but also their personal computers’ security. They should install the latest antivirus software and change passwords regularly. Last but not the least, Bitcoin holders should encrypt their accounts to improve the security of accounts.

Full text of OKEx announcement

Below is the full text of the announcement:

Several reminders about improving OKEx accounts’ security

Dear OKEx Users:

Lately, we have noticed some unusual login activities of a few OKEx accounts. With our security system, all withdraw operations failed. However, attackers still caused some losses by randomly operating.

Several reasons might cause unusual login activities:

1. Password is inappropriately kept or is too simple;

2. Personal computer is infected with the virus, or the account is logged in on public computers;

3. The user uses the same password on different websites and password is leaked on another website.

Users can improve security settings to ensure accounts’ safety:

1. Use Google authentication, and turn on secondary verification:

How to use Google authentication:

1) Download the APP: search and download Google Authenticator in APP Store with your phones;

2) Use Google authentication: Google Authenticator will generate PINs based on time information. Please make sure time information is accurate on your phones. Select “My Account” – “Security Center” – “Set Google Authentication” – “Setting” by the sequence in OKEx website, the platform will generate a QR code. Open Google Authenticator APP and select “Accounts Settings” – “Scan QR code.” You will get a six-digit verification code. Fill in code in OKEx to finish setting.

2. Change password regularly and try to avoid using the old passwords. Do not use the same password for different websites.

3. Improve security awareness. Do not login accounts on public computers. Download and install the latest antivirus software to avoid personal computers being infected with the virus.

4. Use the trading PIN to prevent random trading behaviors.

OKEx has a strong security system, but it requires users to turn on and enable some services. We strongly recommend users to activate those services following our instructions above to ensure your accounts’ security.

OKEX Technology Company Limited

September 30, 2017

OKEx’s announcement in Chinese:

https://support.okex.com/hc/zh-cn/articles/115001833312-

Original article and pictures take bitnewsbot.b-cdn.net site

Not even crypto’s kingpins know if you should buy bitcoin

Not even crypto’s kingpins know if you should buy bitcoin

A recent estimate figures that 95% of bitcoin’s wealth is held by 4% of the market — AKA the kings of the Crypto Castle (home to some of the most prominent crypto investors), AKA the people everyone laughed at 4 years ago, AKA the world’s newest breed of billionaires.

But as crypto explodes and starry-eyed investors rush in, this inner circle leads a life of paranoia and secrecy, plagued by the fear that it could all go away at any moment.

Who are these crypto kings?

There’s Jeremy Gardner, 25 (head honcho of the Crypto Castle), whose startup Augur is now worth over $1B via ICO.

Then there’s Chris Larsen, the co-founder of Ripple, who, after a spike in token price, was worth $59B — more than Mark Zuckerberg.

And, of course, there’s 23-year-old crypto prodigy Vitalik Buterin, creator of Ethereum (the 2nd largest cryptocurrency after bitcoin). Vitalik doesn’t publicize his net worth, but Ethereum’s market cap currently sits around $100B.

But it’s not easy at the top

Grant Hummer, who runs a $100m crypto hedge fund, told The New York Times that his “neurons are fried from all the volatility,” and he views the rise of crypto as a sign that people have lost faith in civilization.

After a death hoax sent Ethereum’s price into a tailspin, Vitalik had to prove he was still alive, from a secure location.

And when people ask Pieter Wuille, a key developer of bitcoin, if they should buy in, he tells them the truth: He has “no idea.” That may be the safest answer.

Original article and pictures take thehustle.co site

Norwegian Man Forgets About $26 Bitcoin Investment, Makes $850,000

Norwegian Man Forgets About $26 Bitcoin Investment, Makes $850,000

An offhand $26 investment in bitcoins has turned into an $850,000 windfall for one very lucky Norwegian man.

According to Norwegian news outlet NRK, Kristoffer Koch decided — on a whim — to invest 150 kroner (about $26) in 5,000 bitcoins in 2009, soon after the Bitcoin network first came into existence. Koch is said to have discovered the virtual currency while writing a thesis on encryption and decided to put down a small investment out of sheer curiosity.

Unaware of just how successful bitcoins would soon become, Koch says he promptly forgot about his digital stash; that is, until a flurry of media coverage about bitcoins caught his attention earlier this year.

Koch reportedly had to scour his memory for the password to the encrypted wallet that held his investment. When he finally figured it out in April, he says he was stunned by what he found.

“It said I had 5,000 bitcoins in there. Measuring that in today’s rates it’s about five million kroner,” Koch told NRK, according to a Guardian translation.

That’s about $850,000.

Gizmodo points out that Koch’s small initial investment is worth even more today. With a single bitcoin currently priced around $210, Koch’s investment would be worth more than $1 million.

Koch isn’t the only person who has benefitted from the rise in bitcoins’ worth and popularity. According to an April report by Bloomberg Businessweek, the success of the world’s first decentralized, peer-to-peer digital currency has spawned many overnight millionaires.

“I’m happy to be considered a member of the Bitcoin millionaires’ club,” 30-year-old Jered Kenna told the news outlet. Kenna reportedly bought his first batch of bitcoins — 5,000 of them — at 20 cents each.

“Make no mistake, this is no different than any other high-tech stock. It’s risky, it’s volatile, and you should not invest any more than you are prepared to forfeit all together,” an anonymous Bitcoin miner told a blogger for The Huffington Post in May.

Do you understand how bitcoins work? This infographic by Confused explains in simple terms what Bitcoin is and how it works:

Original article and pictures take s.m.huffpost.com site

No, You Don’t Have to Buy a Whole Bitcoin

No, You Don’t Have to Buy a Whole Bitcoin

“How much is bitcoin?”

“Around $14,000.”

“Well, that’s too expensive. I can’t afford that.”

It’s a conversation that has surely happened thousands of times over the past several months as a new swarm of people find themselves enchanted by the cryptocurrency space and its tremendous gains.

And it reveals not only a misunderstanding, but also a psychological barrier that many face stepping into the scene for their first time.

Since so much emphasis is placed on how much “one” bitcoin is worth across the industry, new users often come in thinking that if they want to participate, they’ll have to fork over tens of thousands of dollars to buy a whole bitcoin.

But actually, that isn’t the case – it’s possible to buy a half of a bitcoin, a quarter of a bitcoin or even a fraction of a percent of a bitcoin.

Yet, that’s not always clear to new people entering the market, and many believe that’s why a handful of altcoins – including dogecoin and dentacoin, both of which recently reached market caps of more than $1 billion – are seeing a pump in their price, as they offer an affordable way to get into the cryptocurrency markets in whole units.

And this confusion is (partly) why developer Jimmy Song argues some standardization should occur in what the industry calls smaller units of bitcoin.

Toward this goal, Song released a standards proposal that seeks to express one one-millionth of a bitcoin (about one cent at today’s prices) as a “bit.” And he’s nudging wallet providers, exchanges and other bitcoin businesses to support the proposal.

If widely adopted, he hopes it will put an end to this confusion, and make new crypto users more apt to purchase bitcoin, if even in tiny amounts, instead of cryptocurrencies that he thinks might come back to bite them, since many of the cheap altcoins don’t have much technical merit to back them up.

Rise of the ‘bits’

The problem now is that more traditional dollar units, such as $5, when converted to bitcoin look daunting and messy – at 0.000345 bitcoin.

But with Song’s proposal – which he’s released in the form of a bitcoin improvement proposal, or BIP – that dollar value would instead be 345 bits, still a mental juggle, but arguably less confusing, since it’s in whole numbers and not decimals.

“For whatever psychological reason, normal people have trouble understanding decimals and fractions. $0.002 is weirder than $200.00,” said Erik Voorhees, co-founder and CEO of ShapeShift, which supports Song’s proposal, adding:

“For bitcoin to be a global, commonly used currency, it would certainly be helpful to have a denomination that allows people to express prices in integers (2,000 bits for a coffee) rather than a decimal.”

Adding to the mental benefits, Song also said the standardizing “bit” would remove what he calls “unit bias.”

According to Song, people don’t like having what looks like such a small amount of bitcoin, or money in general for that matter. Bitcoin’s price rise at the end of 2017, only exacerbated that problem, adding even more zeros in between the positive numbers and the decimal.

Poking fun at all the recent bitcoin forks, Song said, a group of people could have success enticing a new wave of crypto buyers by splitting off bitcoin with the goal of moving bitcoin’s decimal system six positions.

While others have proposed similar unit changes in the past, Song’s proposal seems to be gaining transaction with exchanges and other companies, which is all the proposal needs to succeed – getting businesses to use the unit to display not only how much bitcoin is in an individual’s wallet but also, within merchants stores, how much things cost.

And even though, Song’s proposal is targeted at bitcoin, it could serve as an outline for how other cryptocurrencies, such as ethereum, could update their units to be more user-friendly.

Still confused?

Although the idea of the proposal is to limit confusion, it’s garnered its fair share of criticism, with those against claiming it could add to the confusion instead.

The critics say, for instance, that if not all companies roll out the standard at the same time – and ShapeShift uses “bits,” while Coinbase sticks with “bitcoin” – when sending bitcoin from one wallet to another, they could either think they somehow earned money or lost money.

Voorhees, for one, even agreed this was a concern, but argued that it shouldn’t stop bitcoin companies from eventually adopting the standard.

“There will undoubtedly be some mistakes and friction as the new term gains usage, but for the purpose of language and mathematical simplification, the net result should be beneficial to bitcoin’s adoption,” he said.

Meanwhile, Song stressed that even though he thinks it would be a move in the right direction, like most things in the cryptocurrency world, it’s up to the community to decide if they want to adopt the system or not.

Still, many more exchanges and businesses would need to adopt the change to get the ball rolling. Song has been tweeting at various exchanges and companies – including CoinMarketCap, one of the most popular sites for checking cryptocurrency prices – suggesting they move to “bits.”

Song concluded:

“This is meant to be a community-driven initiative and the benefits will hopefully be obvious to businesses.”

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase and Shapeshift.

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Interested in offering your expertise or insights to our reporting? Contact us at news@coindesk.com.

https://www.coindesk.com/no-dont-buy-whole-bitcoin/

Original article and pictures take www.btcethereum.com site

Ngân hàng trung ương Indonesia đang có kế hoạch cấm Bitcoin vào năm 2018

Ngân hàng trung ương Indonesia đang có kế hoạch cấm Bitcoin vào năm 2018

Ngân hàng trung ương Indonesia đang có kế hoạch điều chỉnh để để ban hành một lệnh cấm hoàn toàn với các loại tiền tệ số như Bitcoin.

• Cảnh sát Kenya điều tra ba công ty môi giới Bitcoin vì có hành vi lừa đảo
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• 11.874 USD: Bitcoin đạt mức cao kỷ lục mới, nhưng tất cả chỉ mới là bắt đầu

Theo Agus Martowardojo – thống đốc ngân hàng trung ương Indonesia (BI), ngân hàng đang soạn thảo quy định để ban hành lệnh cấm toàn bộ các hình thức mua bán, giao dịch và sử dụng tiền tệ số trong thanh toán. Theo tờ Pikiran Rakyat, quan chức ngân hàng trung ương đã đưa ra nhận định trong cuộc họp thường niên của ngân hàng trung ương tuần trước, thông báo về một lệnh cấm nhằm mục đích bảo vệ chủ quyền của đồng rupiah (tiền pháp định của Indonesia).

Ông tiếp tục mô tả chi tiết về các biện pháp hạn chế được bổ sung của ngân hàng:

Chúng tôi cũng sẽ ngăn chặn các cơ hội mua bán, vận hành kinh doanh không lành mạnh và kiểm soát việc kinh doanh bởi các bên không nằm trong phạm vi luật pháp của Indonesia có thể gây tổn hại tới cấu trúc của ngành ngân hàng trong nước.

Các loại tiền tệ kỹ thuât số cũng có khả năng bị lạm dụng để tài trợ cho khủng bố và rửa tiền. Martowardojo đã thể hiện thái độ cương quyết của ngân hàng đối với các đồng tiền số sau khi đàn áp những người sử dụng bitcoin trong nước. Trong nhận xét hồi đầu tháng 10, giám đốc ngân hàng trung ương cho biết những người sử dụng bitcoin làm phương thức thanh toán “sẽ bị xử lý”.

Theo các ngân hàng trung ương, các quy tắc mới – sẽ được đưa ra trong năm 2018 – cũng sẽ bao gồm các công ty công nghệ tài chính (FinTech) và các công ty mới thành lập kinh doanh.

Tuyên bố của Martowardojo về một lệnh cấm tiền tệ số được đưa ra sau khi cơ quan quản lý tài chính của Indonesia khuyến cáo các nhà đầu tư nhỏ lẻ tránh khỏi sự “hấp dẫn” của tiền tệ số.

Theo CCN Indonesia, Tongam Tobing – chủ tịch của Indonesian Task Force (SWI) thuộc cơ quan dịch vụ tài chính cho biết vào tuần trước:

Chúng tôi khuyến cáo bạn đầu tư vào logic, chứ không phải Bitcoin, vì vậy mọi người không nên tham gia … Nếu bạn muốn đầu tư, không đầu tư tiền ảo, mà nên đầu tư vào các tài sản hợp pháp có thể cải thiện nền kinh tế của Indonesia.

Original article and pictures take blogtienao.com site

More than Half of Russians Know About Bitcoin Now

More than Half of Russians Know About Bitcoin Now

More than half of Russians have some knowledge about bitcoin, according to a new survey. Awareness is higher among young people and in major cities. Three quarters of the Muscovites feel informed about the leading cryptocurrency thanks to 185,000 publications in news outlets. Bitcoin is the most popular word in Russian social media, another study shows.

Also read: Survey: Indians See Brighter Crypto Future than Americans

Young and Online (Profile of the Savvy)

In a year with major developments for bitcoin, many more Russians have become aware of the first crypto. 56% of them now say they know about Bitcoin, according to a recent survey conducted by VCIOM, the “All-Russian Center for the Study of Public Opinion”. The number of knowledgeable respondents rises to 66% of active internet users.

The awareness among young Russians has reached 75% (18 to 24-years-olds), and 71% of all men know about bitcoin. 74% of the residents of the capital Moscow and the second-largest city Saint Petersburg have already learned about the decentralized cryptocurrency.

Few of the informed, however, possess profound knowledge of bitcoin. Only a third of them know that anyone can obtain it – 34%, and some 16% think that bitcoin is actually banned in Russia. More than a quarter know, though, that coins are not only purchased, but can be mined, as well (29%). Another 44% are aware that cashing them out is not yet legalized in Russia.

Better Known as Means of Payment

Despite often described to them as asset and defined as “other property”, 40% of the participants in study know they can use bitcoin to buy and sell goods and services. The question about how secure it is to keep funds on the blockchain divides Russians. 36% of them believe that it’s hard to steal digital cash. The sceptics, who think that’s easy, form 33% of the sample.

Bitcoin is not very popular as an investment opportunity in Russia, the study finds out. Two thirds of the people that know about it, or 67%, consider spending fiat rubles on bitcoins unprofitable. Only 9% of all Russians reckon they will buy the cryptocurrency in the future.

A recent survey conducted by an Indonesian company showed that less than half of the Russian citizens expected wide adoption of cryptocurrencies in the next decade. Russians questioned by VCIOM say the main reason for their anxiety is the insufficient information about bitcoin. The findings of another Russian study, however, point to a trend that may change that assessment.

According to data collected by Medialogia, the number of bitcoin related publications in Russian media has jumped last year to more than 185,000, peaking at 56,000 in December. Changing rates, record highs, and the increasing number of bitcoin billionaires have been widely covered.

Bitcoin Tops Social Media Ratings

“Биткоин“ (bitcoin) has climbed to the top among most popular words in Russian social media. It has been mentioned in 6,543,800 posts, Medialogia statistics revealed. “Блокчейн” (Blockchain) is second with close to 1.8 million posts in 2017. The Russian words for cryptocurrency, mining and etherium have also made it to the top 10, and ICO is number 11.

Not everyone in Russia is ready to make optimistic predictions based on the latest sociological data. VCIOM’s Lead Consulting Expert, Oleg Chernozub, shares a rule of thumb borrowed from “professional investors”:

If the price of an asset is discussed in TV shows for housewives, it will soon crash!

“We shall wait and see”, as the Russian saying goes. Housewives may soon know more about bitcoin than their husbands.

Do you think that the growing awareness of bitcoin will eventually lead to widespread adoption in Russia? Share your thoughts in the comments section below.

Images courtesy of Shutterstock, Медиалогия (Medialogia).

Need to calculate your bitcoin holdings? Check our tools section.

The post More than Half of Russians Know About Bitcoin Now appeared first on Bitcoin News.

Original article and pictures take www.btcethereum.com site

Microsoft has stopped accepting bitcoins as a form of payment

Microsoft has stopped accepting bitcoins as a form of payment

A r / Bitcoin administrator highlighted a publication reporting that several users tried to find the Bitcoin payment option , but could not. He says he believes that “clear that small retail payments do not make economic sense for Bitcoin now”, and that, although everything points to the rumor is true, has not yet been proven, as there was no official statement from Microsoft.

Porém, ottos topics dizem be lie and that estão just espalhando isso to cause medo and uncertainty not market.

However, others claim that it is a lie and that they are just dispersing it to cause fear and uncertainty in the market.

To discover the truth, CCN decided to try to make a purchase using Bitcoin and quickly discovered that the Bitcoin payment option was no longer there. Then they came into contact with customer support.

Read Also : Prediction of Litecoin for 2018

Read Also : What is Litecoin and what is special about it?

Read Also : How to buy Ethereum

Converging with Microsoft’s customer support, they are informed that the company does not oint or Bitcoin as a payment option. T he attendant disse that Microsoft decided to stop oiling to criptomoeda from July 2017.

Microsoft still accepts Bitcoin?

When contacting Microsoft customer support they were informed that since July 2017 the bitcoin option as a form of payment has been deactivated.

In search of more information, CCN contacted a senior member of Microsoft’s account and collection team support. He confirmed that Microsoft has stopped accepting Bitcoin due to ” several problems we are receiving regarding him “. After trying to find out more about the case, he revealed that “there is no other information on why Microsoft stopped accepting Bitcoin as a payment information in addition to problems with processing.”

Microsoft also has an instruções page on its site, explaining how users can pay their bills as Bitcoin. Perguntado sobre isso, foi dito that or process does not work more, because Microsoft deixou of oiling or Bitcoin.

Although on its website there is still an instruction section explaining how users can pay their bills with Bitcoin.

Since the company upgraded its systems to stop accepting the cryptocurrency in July, when Bitcoin was still at about $ 2,500, the CCN asked if the choice was made because of the lack of customer demand. The support said it did not receive many details, but they said that “3 out of 5 customers” were currently having problems with Bitcoin.

Read Also : What is Litecoin and what is special about it?

Original article and pictures take digitalbodha.com site

Miami Bitcoin Conference Stops Accepting Bitcoin Due to Fees and Congestion

Miami Bitcoin Conference Stops Accepting Bitcoin Due to Fees and Congestion

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Original article and pictures take www.redditstatic.com site

Massive Hedge Fund Likely to Begin Trading Bitcoin

Massive Hedge Fund Likely to Begin Trading Bitcoin

UK-based hedge fund Man Group stated they will begin trading Bitcoin if CME’s futures exchange is approved by regulators.

Reuters reports that Man Group, a UK-based hedge fund, will be getting involved in Bitcoin trading if CME Group’s plans to open a regulated futures exchange are approved. According to Business Insider, Man Group is “one of the largest hedge funds in the world” and the fund’s website points out that they manage $103.5 bln in funds.

JUST IN: Hedge fund firm Man Group will add #bitcoin to its ‘investment universe’ if CME launches futures contract as planned – CEO Luke Ellis #ReutersSummit pic.twitter.com/5u0pgRrRXY

— Reuters Tech News (@ReutersTech) November 14, 2017

Effects

Even a fraction of $103.5 bln could make a big impact on the markets, but more important, Man Group’s announcement continues to solidify digital currency as being worth of Wall Street’s attention. Bitcoin in particular is finding more and more acceptance in traditional markets. Likewise, futures markets and hedge fund involvement create more on-ramps into the mainstream financial system and more ways for large but cautious investors to get involved.

Hedge funds are only open to accredited investors, that is, those whose net worth exceeds $1 mln. However, such funds have a much wider latitude to trade whatever types of assets or instruments it thinks would be profitable for its clients. Mutual funds, on the other hand, are open to regular retail investors but have greater restrictions as to how they can invest their funds.

The holy grail for retail investors would be an exchange traded fund, or ETF. A Bitcoin ETF would allow ordinary investors to easily gain exposure to Bitcoin by adding it to their brokerage or retirement accounts. Greater acceptance by Wall Street and greater liquidity on regulated futures markets, such as CME’s, will almost certainly usher in an ETF.

Original article and pictures take www.btcethereum.com site

Making sense of bitcoin, cryptocurrency, and blockchain

Making sense of bitcoin, cryptocurrency, and blockchain

Overview

There has been a lot of noise recently about terms like "bitcoin," "blockchain," and "cryptocurrency." Some of it is hype, but some of it points to important forces in the financial services industry. So what does it all mean?

We can help. We’ve pulled together a few short articles that explain why a lot of industry observers are paying close attention.

Let's start with some quick definitions. Blockchain is the technology that enables the existence of cryptocurrency (among other things). Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.

A look at blockchain technology

Blockchain also has potential applications far beyond bitcoin and cryptocurrency. Blockchain is, quite simply, a digital, decentralized ledger that keeps a record of all transactions that take place across a peer-to-peer network. The major innovation is that the technology allows market participants to transfer assets across the Internet without the need for a centralized third party.

From a business perspective, it’s helpful to think of blockchain technology as a type of next-generation business process improvement software. Collaborative technology, such as blockchain, promises the ability to improve the business processes that occur between companies, radically lowering the “cost of trust.” For this reason, it may offer significantly higher returns for each investment dollar spent than most traditional internal investments.

Financial institutions are exploring how they could also use blockchain technology to upend everything from clearing and settlement to insurance.

For an overview of cryptocurrency, start with “Money is no object.” This paper, from PwC’s Financial Services Institute, focuses on cryptocurrency. We explain where it came from, how much consumers know about it and use it, what it will take for the market to grow, and what the regulators think. We also look at how market participants, such as investors, technology providers, and financial institutions, will be affected.

For some quick background on blockchain, take a look at these two short articles.

• The first Q&A provides some examples of the innovative uses of blockchain implemented by financial institutions and an overview of the challenges and opportunities that blockchain presents for the industry.
• The second Q&A discusses the trends that have shaped blockchain technology and how it has been used and developed.

For a deeper dive into blockchain’s implications, read “A strategist’s guide to blockchain.” This article, from strategy+business, examines the potential benefits of this important innovation — and also suggests a way forward for financial institutions. Put simply, proceed deliberately. Explore how others might try to disrupt your business with blockchain technology, and how your company could use it to leap ahead instead. In all cases, link your investments to your value proposition, and give your business partners and your customers what they want most: speed, convenience, and control over their transactions.

For a peek into the application of blockchains for smart contracts, check out “Blockchain and smart contract automation”. This short series of articles explore how blockchains, both public and private, have triggered a global hunt for ways to remove friction from transaction-related processes, including the process of reaching contractual agreements. Learn about the precursors, challenges, and future outlook of implementing smart contracts. We also chat with Gideon Greenspan of Coin Sciences to learn about his views on the legal ramifications of public blockchains and why companies are seeking alternatives.

When a technology moves so quickly, it’s dangerous to sit on the sidelines. We’re watching blockchain move from a startup idea to an established technology in a tiny fraction of the time it took for the Internet or even the PC to be accepted as a standard tool. Blockchain technology could result in a radically different competitive future for the financial services industry. These articles will help you understand these changes — and what you should do about them.

How PwC can help

Any blockchain solution, no matter how prescient, is only as good as its execution. This is where PwC excels—by offering proven expertise in managing complex implementation programs from start to finish.

What PwC delivers:

• Business and functional requirements
• Design, development, testing and training of blockchain solutions
• Integration and management of third party implementation partners
  
• Rigorous PMO and proactive management of overall efforts
  

Original article and pictures take www.pwc.com site

Local Bitcoin Meetups Are Booming Worldwide

Local Bitcoin Meetups Are Booming Worldwide

Bitcoin and digital currencies have become very popular worldwide, and many newcomers want to learn about this fascinating technology. Of course, they can research the subject online and read about bitcoin in the headlines, but lots of people are gaining knowledge from local bitcoin meetups; a trend that’s been booming all over the world for the past six months.

Also Read: Former Iced Tea Firm Plans to Mine Bitcoin in the Nordic Region

Learning to Bitcoin Face to Face

Bitcoin meetups are becoming very popular these days as the cryptocurrency economy has grown exponentially during 2017 and into the new year. A lot of individuals find out about bitcoin online, but many people like to attend meetups so they can talk with like-minded individuals who believe in decentralized currencies and may even have some knowledge to share. One particular application people use to come face to face with other bitcoiners is a social media platform called “Meetup,” created by Brendan McGovern, Matt Meeker, and Scott Heiferman in 2002. The platform Meetup is used for various groups of people that want to meet others with common interests, and there are quite a bit of bitcoin-based Meetup groups.

Local Bitcoin Meetups Are Growing Exponentially Worldwide

The Social Media Platform Meetup Has 3,727 Bitcoin Related Gatherings

As of January 6, 2018, there are 3,727 groups on the platform Meetup pertaining to bitcoin with 959,622 members worldwide. Currently, the most abundant bitcoin gatherings on the website Meetup include the Hackers and Founders in Mountain View California with over 15,000 members. The group Bitcoin NYC has 7,431 bitcoiners, San Francisco 6,292, Bitcoin Wednesday in Amsterdam 5,076, Bitcoin Argentina 4,976, Coinscrum 4,858, and the Paris Bitcoin group 4,762. That’s just the top ten largest groups on Meetup, and there are many more that are very active.

Lots and Lots of Noobs

Other large gatherings include the Seoul Bitcoin Meetup in South Korea run by Ruben Somsen with 2,000 members. Some of the groups have been around for quite some time like the Cryptocurrencies & Decentralized Innovation Meetup in Ghent, Belgium initiated in 2013. Another big Meetup is held at the Sacramento’s Hacker Lab co-working space that’s been seeing lots of new attendees looking to learn about bitcoin by meeting other people with knowledge about these technologies. Just recently the regional news outlet the Sacramento Bee detailed how 60 men and seven women attended the recent Sacramento meeting and more than half were “noobs.” According to the Sacramento Bee’s account, many of the participants had different stories to tell regarding their relationship with bitcoin.

“It’s borderless, and I can send money to my family in Thailand — I don’t need Western Union,” explained the Sacramento bitcoin group attendee.

Well-known Cryptocurrency Meetups Still Thriving and New Ones Popping Up Every Day

Other favorited groups worldwide include the Tokyo bitcoin meetup, the Miami International Bitcoin community, Bitcoin Saigon, Silicon Valley Bitcoin Users, Crypto Valley Forum, Bitcoin Budapest, and the West Palm Beach Government Blockchain Association. There are also a bunch of new groups forming every single day like a cryptocurrency beginners gathering in Den Haag, Netherlands; a trading group started in Milton Keynes, United Kingdom, and many more. One thing’s for sure, as cryptocurrencies continue to become popularized on the global level, meetups like these will continue to grow.

Do you attend a local bitcoin meetup in your area? Let us know about it in the comments below.

Images via Shutterstock, Pixabay, and the Meetup logo.

Want to create your own secure cold storage paper wallet? Check our tools section.

Original article and pictures take news.bitcoin.com site

Lo que necesitamos saber sobre los BitCoins en una infografía en español

Lo que necesitamos saber sobre los BitCoins en una infografía en español

Infografía BitCoins

Si eres un internauta activo, y dedicas tiempo a leer blogs y magazines tecnológicos, seguro que ya has oído hablar de los BitCoins, la moneda digital que trata de convertirse en un importante sistema de transacciones dentro de algunos años. Pero a parte de esto, es mucho el desconocimiento que aún existe en torno a este término.

Por eso creo interesante compartir con vosotros esta infografía, de Javiez Muñiz para Forbes, en la que se explica de forma sencilla, y en nuestro propio idioma, todo lo que debemos saber sobre la moneda del futuro.

¿Sabíais que se trata de un sistema descentralizado basado en la tecnología P2P? Pues todo esto, y mucho más, se puede aprender con sólo echar un vistazo a esta interesante infografía.

Infografía BitCoins

Vía | Compunoticias

Artículo relacionado | Una infografía para conocer los países donde más se valora el software libre

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Original article and pictures take www.softandapps.info site

Leaked Document Appears to Show NSA Infiltrated Cryptos, Tor, VPN - Bitcoin News

Leaked Document Appears to Show NSA Infiltrated Cryptos, Tor, VPN - Bitcoin News

The following opinion piece was written by Jonald Fyookball. So you’ve heard of Bitcoin Cash — one of the top cryptocurrencies along with BTC and Ethereum. But why does it exist? Is it a cheap copy of Bitcoin? A pump-and-dump scheme? An attempt to hijack the brand and attack Bitcoin? In my estimation, the opposite […]

Original article and pictures take www.seekoin.com site

Latest Posts

Latest Posts

January 6, 2017 6:46 am Published by admin

November 11, 2016 6:12 pm Published by admin

…I think there is a need to amplify the profile of the not-for-profit sector as leaders in social innovation. Sometimes I think that the emergence of more for purpose businesses or social benefit bonds gives the impression that business or government alone will solve our social and environmental challenges. I hope this blog demonstrates the tremendous leadership in innovation being shown by many not-for-profits. Philanthropy’s key role in this is as the source of flexible funding to test and retest, and demonstrate social innovation.

It will take all sectors in the Australian economy to solve tough long-term issues like homelessness and youth unemployment. It will take all sectors working together to transition to a sustainable and equitable future, where we use food, water and energy wisely. The not-for-profit sector is the repository of deep knowledge and strong networks built over a century by people motivated to make our community a better and more inclusive place.

Source: Not-for-profits leading social innovation – CEO Blog Posts of Lord Mayors Charitable Foundation Melbourne

Original article and pictures take www.topsocialinnovation.net site

kickasstraffic Get Bitcoin redirect To FaucetHub “Earn Free Bitcoins For Visiting Websites”

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Original article and pictures take bitcoinvideospro.com site

KFC Canada's 'bitcoin bucket' attempts to cash in on cryptocurrency craze

KFC Canada's 'bitcoin bucket' attempts to cash in on cryptocurrency craze

For a short time on Friday morning, Canadians were able to buy their fried chicken with cryptocurrency.

KFC Canada's "bitcoin bucket" sold out an hour after it was made available, the company said in a series of posts on Twitter playing up the cryptocurrency theme.

KFC Canada presents The #Bitcoin Bucket. Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken. https://t.co/2OKuCHk5Hb pic.twitter.com/UwaduB8toi

— @kfc_canada

The latest, and likely first, venture into the crypto-chicken space. #BitcoinBucket

— @kfc_canada

But is this the future, or just a clever promotion?

Ameer Rosic, CEO of Blockgeeks, says actual payments with bitcoin aren't feasible.

"For you to send a couple bucks for coffee, transaction fees are ridiculous. So you can't actually use bitcoin as a commerce payment system."

On Friday, the average bitcoin transaction fee was as high as $35. The bitcoin bucket cost $20. The transaction time is also a problem, with transactions taking anywhere from minutes to hours. And both the fee and the time change depending on the amount of traffic on the bitcoin network.

Purchasing a bucket of chicken with bitcoin also triggers a taxable event that Canada Revenue Agency expects you to keep track of.

Riding the hype train

KFC isn't the first company to use the hype to their advantage. Several companies have jumped on the bandwagon lately, seeing huge gains in their stock price when they do so.

Rosic said there might be another reason behind these types of promotions, though: market research.

"It's a great feedback mechanism for KFC and these other companies," he said. "They're looking for market feedback, too. They're looking for how many people are responding to this, how they're responding to this."

Despite his skepticism about bitcoin being used to buy chicken, he still thinks blockchain technologies and cryptocurrencies are in our collective future.

"Will any of these big companies accept crypto in the future? I think that's inevitable."

Original article and pictures take www.canada24news.com site

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Original article and pictures take bitcoinitup.com site

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Original article and pictures take cryptosrus.com site