February 27 ,2015- In This Issue:


 

 

Bitcoin revolution could be the next internet, says Bank of England
The Bank of England has unveiled analysis of cryptocurrencies like Bitcoin that suggests electronic money could cause a tectonic shift in the payments industry

The arrival of electronic currencies could revolutionise the way Britons pay for goods and services, in much the same way as the internet shook up how we access information, the Bank of England has said.

Cashless forms of payment like the cryptocurrency Bitcoin "potentially combined with mobile technology, may reshape the mechanisms for making secure payments", the central bank said.

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CEO of E-Commerce Giant Rakuten Hints Bitcoin Acceptance
NEW YORK (InsideBitcoins) - Bitcoin may be getting one of Japan's largest e-commerce sites on its side. At the Rakuten Financial Conference in Tokyo, Hiroshi Mikitani, CEO of Rakuten, revealed that the company was considering adding bitcoin as an accepted payment.

mikitani"We are thinking about it, and probably will," Mikitani said. While he was unwilling to reveal when the company may look to launch this feature-he says it's a trade secret-the company has formed a department to study cryptocurrencies. It has also invested in some bitcoin related startups in the United States, including Bitnet Technologies.

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Bitcoin futures market just changed the game
When the New York Stock Exchange announced its investment in the U.S.-based bitcoin exchange and wallet service Coinbase, I thought it was a sign that bitcoin was done with its "tumultuous teen" years and ready for adulthood. The ascent into adulthood would be marked by high profile investors and an exponential growth in the ecosystem.

Just such a development recently occurred - former Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale bankers have announced a new derivatives-trading platform for bitcoin. The brokerage platform will specialize in futures and options tied to the price of bitcoin and will enable businesses and investors to hedge their digital currency exposure.

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BitBeat: Blockchain Hits 3 Million Wallets, Fueled By Developing World Demand 
Demand for services from digital wallet provider Blockchain has surged over the past six months and much of it has come from the finacially troubled parts of the developing world

London-based Blockchain announced Monday that it had passed the milestone of 3 million wallets, having crossed the 2 million mark back in August.

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Bitcoin Value Is Indestructible Regardless of Price
In the transition phase between trend cycles, the Bitcoin speculative market is completing a third terrace of consolidation. In mid-January, the market spent a week consolidating around $209 and 1290 CNY before rallying to just over $300 / 1900 CNY. A second phase consolidated around $222 and 1380 CNY before climbing a Fibonacci ladder to $260 / 1660 CNY. The current phase of sideways price action has seen a greater range of price movement as two gradual advances above $242 / 1500 CNY were followed by sharp profit-taking sell-offs - the market nervously anticipating its next move.

As the 4-hour Bitstamp chart, above, shows trade has re-established price above the rising red 200MA and price action is heading toward a descending trendline drawn from the November 2013 all-time high. The trendline can be likened to a watershed since price action has not ever advanced above it. At the current sideways trajectory price should encounter the long-term trendline by 5 March.

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'Out-dated' Wall Street technology gets a bitcoin-inspired fuel-injection
Jaron Lukasiewicz's offices are in the heart of New York's financial district, and his clients are some of the most well-known institutional investors on Wall Street. Today he announced that his company, New York City-based Coinsetter, has unveiled Project Highline, a bitcoin-inspired technology that could change the way investors trade.

"What Project Highline is basically doing is ripping out the current settlement rails that are used in prime brokerage and trade settlements, and instead we're replacing it with a more peer-to-peer type system based on the blockchain," Lukasiewicz, 29, who is the company's CEO and cofounder, said in a phone interview today. "I don't think we're making brokerages unnecessary, I think we're making the intermediaries behind them unnecessary and I think we're making brokerages more transparent."