Welcome to the World Blogger digest of interesting and important news and views about Cryptocurrencies.
Thousands of Japanese Retailers, Restaurants May Stop Accepting Bitcoin
More than 5,000 retail stores and restaurants in Japan may stop accepting Bitcoin as a form of payment starting Aug. 1, 2017. This possibility could push through if Bitcoin payment processors will halt their services.
The retailers and restaurants accept Bitcoin through payment processors bitFlyer and Coincheck. The latter is also partnering with Recruit Lifestyle in order to expand its operation and accept more than 260,000 additional stores across Japan as clients.
BitFlyer, however, has announced that it could stop Bitcoin deposits and withdrawals, along with its payment services from July 31 to Aug. 2. Coincheck has separately announced that it will temporarily halt Bitcoin deposit and withdrawal starting Aug. 1.
Full story at http://bit.ly/2uL6YjF
Source: CoinTelegraph
Traders and Investors are Coming Back to Bitcoin: Reasons and Trends
Traders and investors are coming back to Bitcoin due to the lock-in of BIP 91 and the high probability of Segregated WItness being activated in the near future.
Bitcoin’s dominance over the cryptocurrency market is closing on 50 percent, with the Bitcoin dominance index currently at 48 percent.
A month ago, when the Bitcoin scaling debate was being prolonged and the mining community pushed for the activation of SegWit2x without the BIP 91 activation mechanism, the dominance index of Bitcoin dropped to an all-time low at 37.47 percent.
The dominance index of Bitcoin dropped from nearly 60 percent to 37.47 percent in a period of a few months due to the certainty in Bitcoin scaling and the reluctance of miners to activate SegWit. As user-activated soft fork (UASF) and SegWit2x asserted pressure toward the mining community to avoid a chain split and scale the Bitcoin network securely and efficiently, the mining community including Bitmain, which previously revealed the possibility of an Aug. 1 hard fork, began to signal for BIP 91 and SegWit.
Full story at http://bit.ly/2uL11De
Source: CoinTelegraph
Bitcoin Unlimited: New Report ‘Invalidates’ Security
A new report from the International Association for Cryptologic Research (IACR) has claimed Bitcoin Unlimited’s (BU) security promises are “invalid.”
The paper, elaborately titled ‘On the Necessity of a Prescribed Block Validity Consensus: Analyzing Bitcoin Unlimited Mining Protocol,’ states that BU’s two central tenets of security are incompatible with the needs of a cryptocurrency network.
“[...W]e systematically evaluate BU's security with three incentive models via testing the two major arguments of BU supporters: the block validity consensus [BVC] is not necessary for BU's security; such consensus would emerge in BU on the run,” its abstract begins.
“Our results invalidate both arguments and therefore disprove BU's security claims.”
Full story at http://bit.ly/2ui5Weh
Source: CoinTelegraph
Cosmetics Giant Lush Accepts Bitcoin
Anti-animal cruelty and vegan cosmetic and skincare giant Lush has announced that it will be taking a bold step with its online store as it begins accepting Bitcoin as a form of payment.
The UK cosmetic high street shop, that has seen rapid growth with stores across the globe, has seen it fit to move with the times by adopting Bitcoin, the most popular cryptocurrency, as a form of payment for its online store.
Lush will be embracing this new monetary technology, and join companies on the scale of Microsoft, Expedia and Steam, in this uptick of Bitcoin.
The idea is to allow for more global payment to be made on their UK online store through the use of this decentralized currency.
Full story at http://bit.ly/2uhXH1N
Source: CoinTelegraph
GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700
Bitcoin has held strong support and has its sights set on a test of the $3,000 level, according to Goldman Sachs.
In a note sent out to clients on Monday, Sheba Jafari, the head of technical strategy at the bank, updated her recent chart work on the cryptocurrency.
The $1,856 to $1,790 area "has the potential to act as strong support," Jafari wrote. "All in all, the balance of signals appear to be shifting to a more positive tone."
Jafari's latest note comes two weeks after she predicted the cryptocurrency was setting up for a big drop. At the time of her call, bitcoin was trading near $2,550 a coin. She said that bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." It fell a bit further, putting in a low somewhere between $1,758 or $1,852 (depending on which data you use). Jafari, however, always expected the gains would resume after the correction. And that they have.
Full story at http://read.bi/2uHKNdO
Source: Business Insider Nordic
Bitcoin, Ethereum Bounce Back Hard To Reach $2,400 and $240
Bitcoin has rebound to $2,400 and Ethereum is up 25 percent in a day as optimism returns to cryptocurrency markets in a big way.
The shift into the green coincides with reaching the required consensus for BIP 91 to lock in for Bitcoin. This paves the way for SegWit activation without the need for a hard fork.
Meanwhile, Ethereum has recovered spectacularly from last week’s seismic losses, currently trading at an average of $242 according to Coinmarketcap.
Full story at http://bit.ly/2vHijhT
Source: CoinTelegraph
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