February 20 ,2015- In This Issue:







Winklevoss twins: Bitcoin will explode beyond $1 trillion

There's a trillion reasons why the Winklevoss twins are in love with Bitcoin.


The brothers, known for their legal battle with Facebook (FB, Tech30) founder Mark Zuckerberg, believe the controversial cryptocurrency is the payments network of the future. That's despite Bitcoin's 60% plunge in 2014.

They predict Bitcoin's market capitalization could easily skyrocket to at least $400 billion, or roughly the combined size of modern day payments companies like American Express (AXP), Visa (V), MasterCard (MA) and Western Union (WU).


But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it.  


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Reuters $600 Breakeven for Miners Claim is Wrong


Hass McCook who is independent economic researcher and an MBA from Oxford, says that he was misquoted in the article and was not interviewed before it was published. According to McCook, they used a figure which was from June when the bitcoin price was in the 600's and did not take into account the current economics and price of bitcoin.


Speaking to CoinTelegraph, McCook estimates that the most innovative of the chip fabricators can break even at US$160 on the cheaper end in contrast to US$350 on the most expensive end using 30 kilowatt Antminers. But typically the cost would be about US$300 based on the cost of electricity. All other miners generally fall somewhere in between. But as we have seen lately the economics and price of bitcoin have led many mining companies across this spectrum to shut down.



First Global Credit Adds Bitcoin to Fiat Currency Switch Service to Existing Bitcoin as Trading Collateral Service


Downward moves in the price of Bitcoin don't have to cause big losses to those bullish on the digital currency. At least not for customers of First Global Credit's 'Bitcoin as collateral' stock trading services who now have the option of using their new Currency Switch Service to move that collateral into one of four Fiat currencies (USD, EUR, GBP of CHF.) This means shrewd investors can hold onto their profitable stock market trades while moving their margin capital into fiat currency, buying back their Bitcoins at a more advantageous price later on.


First Global Credit clients are really using the value of their Bitcoins in 2 ways at the same time, maximizing the asset's potential. The stock or commodity positions the customer holds do not need to be closed to perform the Currency Switch; the existing trades will now just be secured by the Fiat currency in the account instead of Bitcoins. When the trader feels the moment is right they can switch back into Bitcoins at the current rate. A modest transaction commission of 0.1 percent is charged if the trader is a price maker; placing an offer above the market or a bid below the market, or 0.2% if the order is 'at market,' wherever the market is currently trading.


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Star Silicon Valley entrepreneur: Here's why bitcoin will be bigger than the internet

Serial entrepreneur Wences Casares created Argentina's first internet provider and later sold his online brokerage firm to Banco Santander for $750 million in 2000. He was 25 years old.

Now 40, Casares is a star of the Silicon Valley bitcoin scene, but his Argentinian roots inform much about him. The son of a cattle rancher, he sees the world in literary and philosophical terms, speaking of the arc of human existence over thousands of years.

Bitcoin has had a rough time lately, with its slumping value and high-profile flameouts, but Casares has no doubt that the digital currency will prevail. First, it promises efficiency and equality of access unlike anything the world has known. Also, he argues, technology has already created a leapfrog effect in the developing world. As cellphone usage shows, billions of people worldwide have cash but exist outside of the traditional banking and credit systems. Bitcoin unleashes that power.

Dell becomes largest international retailer accepting bitcoin after UK and Canada cryptocurrency deal

Dell has opened up bitcoin payments for customers in the UK and Canada, making it the largest retailer to accept the cryptocurrency internationally.


The tech giant was one of the first major companies to accept bitcoin when it introduced payments for online customers in the US in July 2014, following a partnership with bitcoin wallet and exchange service Coinbase.


In the seven months that have followed thousands more merchants have jumped aboard the bitcoin bandwagon.


Recently released figures revealed that more than 100,000 merchants around the world now accept bitcoin as a form of payment, including multi-national firms like Microsoft, Wikipedia, and Expedia.


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Will Bitcoin Foster A New Breed of Remittance Market in


During the 70s and the 80s, the African banking sector suffered a major liquidity and insolvency crisis. The finance practices were undoubtedly poor, and so do the supervision of counterpart risk. Though with time, the sector thoroughly improved with the introduction of more robust and resilient technologies.


But even with vast improvements in Africa's national and local banking infrastructure, a majority of its people still found themselves deprived of using such services. As noted in an elaborative report by CNN, 75% of the sub-Saharan population still don't have a bank account. In the same report, CNN presented Bitcoin as an anticipative alternative.


And as CCN, and many believe, Bitcoin - the world's first and the foremost decentralized digital currency - seems to be a perfect fit inside a 'mostly-elusive' African banking sector.


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Bitcoin Comes To Influential Payments Startup Stripe

Stripe, the intriguing startup that helps drive payments on everything from Facebook to Lyft, is now handling bitcoin.


The company made the long-awaited announcement with the launch of a microsite this week. Basically, any business using Stripe can immediately sign up to accept the bitcoin digital currency, and Stripe will charge 0.5 percent on each successful bitcoin transaction.


The digital payment startup began testing its bitcoin tools back in March with a beta program, and it conducted transactions in up to 60 different countries during this period. Now, the company is rolling things out to everyone.