MIT “Disobedience Award” Gives Rule-Breakers $250k Prize

MIT “Disobedience Award” Gives Rule-Breakers $250k Prize

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The  Massachusetts Institute of Technology  (MIT) is offering a new prize worth $250,000 for what it calls “ethical disobedience.” The...

Abra Adds Bank Bitcoin Purchases As Consumers Wake Up

Abra Adds Bank Bitcoin Purchases As Consumers Wake Up

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The Bitcoin-based payment gateway  Abra  has added Bitcoin purchasing directly from its wallet. In a  press release  Thursday, the int...

Will Bitcoin Collapse Under the Weight of Its Own Success? All eyes are on the Winklevoss Brothers trust and the Securities and Exchange Commission, hereinafter SEC. There are some that are of the view that a negative decision on the trust by the SEC would lead to damage for Bitcoin. However, the real problem that Bitcoin is facing at the moment is not what the SEC is going to do about a trust but the very nature of the currency itself. Bitcoin may become a victim of its own success. So let us see if Bitcoin is a star that is bound to collapse under its own weight. The sludge in the pipeline Bitcoin has been struggling to process transactions quickly enough and what is more, the cost of processing transactions has been rising significantly. Recently Marketwatch.com observed: “Regular users are waiting longer and longer for their transactions to be confirmed. Average confirmation time on Feb. 3 was nearly eight hours, though it’s typically closer to 90 minutes.” Further commenting on the problem of rising fee, “The total value of all transaction fees paid to the virtual miners who power the Bitcoin network rose to 270 Bitcoins, or about $320,000, on Wednesday, March 8, 2017, its highest level in nearly a year.” Stephen Pair, Co-Founder and CEO of Bitcoin Payment Services company Bitpay wrote a blog talking about how their miner fee expenditure has risen 35-fold. In his blog, Stephen writes, “If we factor out our transaction growth of nearly 3x, it is still nearly a 12-fold increase. The fees aren’t just rising, they’re rising exponentially. At some point, an equilibrium will be reached and we will discover the true value of having a transaction secured by the most powerful computing network mankind has ever deployed.” Lack of consensus in the Bitcoin community The problem of scalability has not been solved as of yet even though efforts to solve the issue have been underway for quite some time. One of the proposed solutions to Bitcoin’s slow processing speed is called SegWit, short for segregated witness. This solution depends on moving transaction data to secondary networks that would help decongest the Bitcoin Blockchain. While adoption for SegWit has been rising, the number of blocks signaling SegWit support are hovering between 25 to 30 percent at the time of writing.

Will Bitcoin Collapse Under the Weight of Its Own Success? All eyes are on the Winklevoss Brothers trust and the Securities and Exchange Commission, hereinafter SEC. There are some that are of the view that a negative decision on the trust by the SEC would lead to damage for Bitcoin. However, the real problem that Bitcoin is facing at the moment is not what the SEC is going to do about a trust but the very nature of the currency itself. Bitcoin may become a victim of its own success. So let us see if Bitcoin is a star that is bound to collapse under its own weight. The sludge in the pipeline Bitcoin has been struggling to process transactions quickly enough and what is more, the cost of processing transactions has been rising significantly. Recently Marketwatch.com observed: “Regular users are waiting longer and longer for their transactions to be confirmed. Average confirmation time on Feb. 3 was nearly eight hours, though it’s typically closer to 90 minutes.” Further commenting on the problem of rising fee, “The total value of all transaction fees paid to the virtual miners who power the Bitcoin network rose to 270 Bitcoins, or about $320,000, on Wednesday, March 8, 2017, its highest level in nearly a year.” Stephen Pair, Co-Founder and CEO of Bitcoin Payment Services company Bitpay wrote a blog talking about how their miner fee expenditure has risen 35-fold. In his blog, Stephen writes, “If we factor out our transaction growth of nearly 3x, it is still nearly a 12-fold increase. The fees aren’t just rising, they’re rising exponentially. At some point, an equilibrium will be reached and we will discover the true value of having a transaction secured by the most powerful computing network mankind has ever deployed.” Lack of consensus in the Bitcoin community The problem of scalability has not been solved as of yet even though efforts to solve the issue have been underway for quite some time. One of the proposed solutions to Bitcoin’s slow processing speed is called SegWit, short for segregated witness. This solution depends on moving transaction data to secondary networks that would help decongest the Bitcoin Blockchain. While adoption for SegWit has been rising, the number of blocks signaling SegWit support are hovering between 25 to 30 percent at the time of writing.

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In 2010, a Florida programmer called Laszlo Hanyecz convinced someone to  accept 10,000 Bitcoins  he’d mined on his computer in exchange...

Swiss Bank Secures Approval for Bitcoin Asset Management: CNBC

Swiss Bank Secures Approval for Bitcoin Asset Management: CNBC

| Bitcoin, Bitcoin News, Bitcoin trading

Swiss  bank Falcon Private Bank has received authorization from the Swiss Financial Supervisory Authority FINMA for the management of as...

By Joseph Young South Korea Officially Legalizes Bitcoin, Huge Market For Traders

By Joseph Young South Korea Officially Legalizes Bitcoin, Huge Market For Traders

| Bitcoin, Bitcoin News, Bitcoin trading

South Korea has officially legalized international Bitcoin transfers and is on the verge of providing a regulatory framework for Bitcoin...

RSX Russia Sideways Symmetrical Triangle Failure Tight Band Squeeze

RSX Russia Sideways Symmetrical Triangle Failure Tight Band Squeeze

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The RSX breaks to the downside over the last two weeks as the Ukraine turmoil increases.  The US plans to announce serious sanctions against...

DAX Germany Weekly Chart Rising Wedges H&S

DAX Germany Weekly Chart Rising Wedges H&S

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The DAX is getting slapped over the last couple weeks as the Ukraine situation continues. Germany is very reliant on natural gas and oil fro...

Keystone's Morning Wake-Up 3/13/14; Retail Sales; Business Inventories

Keystone's Morning Wake-Up 3/13/14; Retail Sales; Business Inventories

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Volatility continues to dictate market direction. The bears were happy with VIX moving above the 200-day MA at 14.70 but during Wednesday af...

SPX 30-Minute Chart 8/34 MA Cross Sideways Channels

SPX 30-Minute Chart 8/34 MA Cross Sideways Channels

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The 8 MA remains under the 34 MA signaling bearish markets for the hours ahead, however, the bulls are thrusting higher, curling the 8 MA hi...

SPX Daily Chart Upward-Sloping Channel Negative Divergence Hammer Candlestick

SPX Daily Chart Upward-Sloping Channel Negative Divergence Hammer Candlestick

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The bears cannot gain traction to the downside. Yesterday's candlestick shows the drop to 1854 but the bulls fight back and close at the...

FNMAM Fannie Mae Daily Chart On Its Fannie

FNMAM Fannie Mae Daily Chart On Its Fannie

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Fannie and Freddie, the GSE's, collapse over -30% on news that lawmakers plan to dismantle and phase-out the institutions. Exactly what ...

VIX Volatility Daily Chart

VIX Volatility Daily Chart

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Volatility is impacting market direction more than any other parameter currently. VIX 14 is the bull-bear line in the sand. Markets will s...

Keystone's Morning Wake-Up 3/10/14

Keystone's Morning Wake-Up 3/10/14

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Weak China export data sours Asia's mood. Copper is dumping another -1.5% today now testing nearer the psychological 3.00 level. The d...

SPX 60-Minute Chart 200 EMA Cross Upward-Sloping Channel Expansion Pattern Tight Bands to Squeeze Out Big Move

SPX 60-Minute Chart 200 EMA Cross Upward-Sloping Channel Expansion Pattern Tight Bands to Squeeze Out Big Move

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The SPX remains above the 200 EMA on the 60-minute at 1838.24 signaling bullish markets for the hours and days ahead . The brown lines show...

SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 3/10/14

SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 3/10/14

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SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 3/10/14. The SPX prints a new...

TNX 10-Year Treasury Note Yield Daily Chart Sideways Channels

TNX 10-Year Treasury Note Yield Daily Chart Sideways Channels

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The small jump in yields last week from 2.59% to 2.82%, settling at 2.79%, has many in a tizzy calling for 3% and more coming in quick order...

COPPER Weekly Chart Descending Triangles

COPPER Weekly Chart Descending Triangles

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Doctor Copper is in sick bay but no one pays attention. Copper is a key indicator since it provides a direct measure of the housing and auto...

COPPER Daily Chart Mini-Crash Event Collapsing -4.3%

COPPER Daily Chart Mini-Crash Event Collapsing -4.3%

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Doctor Copper is in sick bay but no one pays attention. Copper is a key indicator since it provides a direct measure of the housing and auto...

SOCL Social Media ETF Weekly Chart Overbot Rising Wedge Negative Divergence

SOCL Social Media ETF Weekly Chart Overbot Rising Wedge Negative Divergence

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The social media stocks continue running higher. SOCL is up 110% over the lasts 17 months. The Fed says there are no asset bubbles in market...

Keybot the Quant Turns Bearish

Keybot the Quant Turns Bearish

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Keystone's trading algo, Keybot the Quant, flips short today at SPX 1873. Volatility is on the bear side with VIX above 13.98 but this ...