February 24 ,2015- In This Issue:

 

Bitcoin, Bit-by-Bit, Pitches Silicon Valley Against Washington As Our True Capital
Washington, DC, is the capital of the United States. Yet Silicon Valley is the true capital of the America of the present and the future. Silicon Valley and its satellites gave us personal computers, web browsing, email, Amazon, eBay, PayPal, Facebook, Uber, Airbnb, iPhones, iPads, and other technologies that have transformed and are transforming our lives for the better.

These developments are unlike anything out of Washington, usually a bastion of the status quo and the retrograde. So when the leaders of Silicon Valley start making amazing claims about something it pays to pay attention. Silicon Valley's latest Next Big Thing: the mysterious bitcoin.

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BitcoinForMiles.com Opens the First Platform to Trade Rewards for Bitcoin
Bitcoin Brands Inc. today announced that it has opened a new trading platform for airline miles and reward points using bitcoin.

BitcoinforMiles.com (www.bitcoinformiles.com) allows individuals and businesses to invest their excess miles into bitcoin. The process is simple. Once the account is verified, the seller is paid in bitcoin often in a matter of minutes.

The site accepts offers of miles from all of the major airlines including American, Delta, British Air, US Airways, Air France/KLM, Cathay Pacific, Alaska Air, United, Virgin America, Singapore, JetBlue and Frontier. The site also makes markets in Amex and Chase points as well as all of the most hotel chains reward programs.

"We believe travel is going to be a significant driver of bitcoin adoption. Bitcoinformiles.com offers consumers an innovative way to turn unused miles into an asset which may increase in value," added Peter Klamka, President of Bitcoin Brands Inc.

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Blockai Launches 'Netscape for Bitcoin' With Blockchain Browser
"It was awkward and it was a viral loop. People tipped $150,000 in 10 days, and then a lot of people who got bitcoin... it sat there and they didn't do anything with it, ever."

Blockai CEO Nathan Lands is referring to the spike in interest in first bitcoin project, QuickCoin, a Facebook-integrated wallet that sought to entice new users. That project has now evolved into Blockai (pronounced 'block-i'), which takes a similar approach to spreading bitcoin, although it places more emphasis on the capabilities of its blockchain rather than its use as a digital currency.

While resembling a social stream - more of a "frontpage for the blockchain" according to Lands - Blockai is a single application that seeks to merge a traditional Internet browser with a publishing tool. Using Blockai, users can read and comment on messages embedded into bitcoin blockchain metadata and also write and share their own creations.

The end result, according to Lands, is that Blockai will help people find the blockchain, while allowing them to easily visualize its capabilities beyond bitcoin as a currency.

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Coinbase's Brian Armstrong: Bitcoin is Way Too Far Ahead
Coinbase just launched their new Bitcoin exchange. Plus, Coinbase has received a major money-shot of venture capital funding last month, which rang in at over $100 million, so 2015 has already been a huge year for Coinbase. Now Armstrong's commentary expresses where his loyalties lie going forward.

Armstrong seems to be referring to "The Network Effect" of Bitcoin and it's advantages over the rest of the digital markets. With the amount of time, venture capital, and over six years of experience, it will be near impossible for another coin to reach an equal footing with Bitcoin. Plus, commercial acquisitions like Dell & Microsoft only strengthen its position as the market leader.

The Sidechain Concept highlights the potential for features and capabilities not currently available on the Bitcoin block chain. Bitcoins can be "moved" from the block chain, where they would be "immobilized", to the side chain, where they can perform different functions by the owner. The side chain itself can be a place for anonymous, untraceable transactions, or smart contracts. Then coins can be brought back to the block chain for future use, as needed.

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