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August 7, 2015- In This Issue:

  
$1 Billion Worth of Bitcoin Venture Capital Can't Be Wrong (AVRN)

As the old Wall Street adage suggests, investors should follow the so-called "smart money." In other words, whatever the professional investors, venture capitalists and hedge fund managers like, so too should the average investor.

 

It's not a bad premise either. After all, the folks with access to enough cash to qualify as smart-money were able to amass those fortunes somehow. Logic dictates that they know what they're doing and have access to the right information that allows them to continue growing their stash.

 

With that as the backdrop, investors (not to mention consumers as well as businesses) may want to be aware that the venture capital sliver of the finance world is on pace to invest a stunning $1 billion in the Bitcoin industry this year. With that amount of money making its way to the table, clearly some very smart people see a money-making opportunity most other people may be overlooking.

 

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The Kings Of The Cashless World

Money, as they say, makes the world go round. But the type of money spinning us around is increasingly digital and plastic rather than paper. Every week seems to bring new developments from different corners of the globe that indicate we are inching ever closer to being a "cashless" world.

 

The last few months in Europe has seen much associated with the topic come to the fore. It was recently announced in the UK that cashless payments have exceeded the use of physical money for the first time ever.

 

This came hot on the heels of an announcement from the Danish government that businesses such as retailers, petrol stations and restaurants will soon no longer be obliged to take cash payments.

 

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Bitcoin Startups Lure Quant Whizzes From Wall Street

NEW YORK: Armed with a doctorate in financial engineering, 34-year-old Timo Schlaefer was on his way to a promising career at Goldman Sachs in London. Previously with the bank's mergers and acquisitions team, he became an executive director of credit quantitative modeling at Goldman, where quants like Schlaefer are highly valued.

 

In February he gave that up, and launched a company called Crypto Facilities, a bitcoin derivatives trading platform, which now has six employees. For now, the platform trades bitcoin forwards, which are directly linked to the price of bitcoin, but it's also developing other digital currency derivative products.

 

"This is uncharted territory," said Schlaefer. "It's an exciting opportunity to participate in a new area of technology that has massive potential."

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Bitcoin Deemed Regular Currency By Australian Senate Committee

Bitcoin and other digital currencies will be treated the same way as traditional currencies under expected proposals from the Australian government, reports suggest. A Senate inquiry is set to overturn a ruling from the Australian Taxation Office (ATO) from July 2014 that classified bitcoin as an "intangible asset" for Goods and Services Tax (GST) purposes, according to the Australian Financial Review, giving a much needed boost to local bitcoin businesses.

 

"The opportunities for trade, investment, high salaries and world-leading skills are far more important [than any potential loss of revenue], and I urge the states to work with the Commonwealth to make what amounts to simple change," Labor Senator Sam Dastyari, told the publication.

 

"Without a doubt, the main benefit will be the confidence and certainty that removing a GST will provide to our own digital entrepreneurs, and the foreign businesses who want to set up here. The Treasury ministers need to work with the states to make the changes necessary to bring our legislation into the 21st century."

 

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LOT Polish Airlines Now Accepts Bitcoin

LOT Polish Airlines is now accepting bitcoin payments, meaning the digital currency can be used to pay for flights to more than 60 global destinations.

 

Tickets can be purchased on LOT's desktop and mobile websites. LOT does not accept directly, but exchanges the digital currency for fiat using an unnamed payment service provider, the media outlet said.

 

LOT now accepts bitcoin alongside payment methods including American Express, PayPal, MasterCard and Visa.

 

Jiri Marek, executive director of sales and distribution for the company, said the decision demonstrates how LOT is open to "every client need" as well as innovations in the travel industry.

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BitPay Brings Bitcoin To Payments Companies On Three Continents

ATLANTA--(BUSINESS WIRE)--BitPay, the world's leading bitcoin payment processor, has recently announced several partnerships with payments companies from around the globe. During the first half of 2015, the company has signed deals with PSPs Payfirma, Sonic Payments, BillPro, Kadu, OpenPay, and Ixopay. These payments companies are based on three continents and, in total, serve more than 100 countries.

 

BitPay's recent partnerships have made it easier for thousands of companies to implement a bitcoin payment method directly through their PSP, without needing a separate solution. During the last two quarters, BitPay has seen interest in bitcoin increase exponentially from traditional payment companies. Some of BitPay's recent partners have been happy to share why they feel bitcoin is such an important innovation for the payments industry.

 

Sonic Payments is a US-based payment processor that is revolutionizing the way property managers and landlords handle rent collections. In addition to supporting traditional payment methods like credit and debit cards, eChecks and ACH, Sonic has introduced all-new options, including the ability to pay rent with cash at major retail stores like 7-Eleven, Dollar General and CVS.

 

"We believe in bitcoin's potential to be an integral part of the future of money, and we're excited to add it to our growing list of ways to pay. The rental space has been stagnant for far too long, but we're working with both property managers and DIY landlords to change that. Delivering the power to seamlessly accept digital currency as an alternative to traditional rent payment options is just one example of how we're driving innovation in this thriving market," Chris Cashwell, Founder and CEO of Sonic Payments.


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