E-Coin Launches Bitcoin Debit Card Affiliate Program

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E-coin specializes in bridging the gap between the traditional financial institutions and Bitcoin by allowing Bitcoin users to store Bitcoin safely with its multi-sig wallet service, as well as allowing users to load Bitcoin onto debit cards that can be used at any POS terminal that accepts VISA cards — in USD, EUR, and GBP.   “Inspired by blockchain decentralized technology, the company dedicates a great part of its efforts in growing the popularity and usability of cryptocurrency while trying to make transactions simple, safe, and hassle-free.” The E-coin debit cards work like their traditional counterparts; simply load funds into an account that can be managed on the web and the E-coin mobile app. To date, 1,800 Bitcoin debit cards have been shipped and are readily available to order and use. E-coin ships to 173 countries, and the cards can be used in any country. Since the E-coin debit card works like a VISA card, support for it has already been built in, with over 30 million ATMs and 25 million merchants accepting VISA worldwide. “For a currency to gain adoption it needs to circulate. Although already quite popular, bitcoin is still not very easy to get and spend for an average Joe. Our bitcoin debit …

Bullshit Research from Suffolk University : Federal Reserve Needs Power Over Bitcoin – Bull

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The Federal Reserve and European Central Bank should be given a mandate to monitor threats bitcoin and digital currency systems pose to the broader financial system, a new report from a Suffolk University researcher argues. Entitled “$=€=Bitcoin?”, the report speculates as to the potential dangers that the more widespread use of bitcoin as a digital money with no government backing, analyzing how circumstances arise where this threatens national and international economies. The paper follows a February 2014 statement from Federal Reserve chairwoman Janet Yellen, who said that the US central bank does not have the authority to regulate digital currencies. Further, the European Central Bank published a report last year that, while largely dismissive the technology, indicated the bank is monitoring developments. More broadly, the report argues that the mandate is necessary given that the general population is not aware of central bank boundaries, meaning the central bank could “bear responsibility” for a systemic crash should it affect either or both markets. The report reads: “Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank, which could adversely affect its ability to govern the more traditional money …

Bitcoin Lending Platform Bitbond Rakes in 600K Euro Investment

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Global Bitcoin P2P lending platform Bitbond has raised 600,000 euros in second tranche of angel funding. The platform’s total funding for the round has now reached 800,000 euros. The prominent angel investors this time included Florian Heinemann and Uwe Horstmann (Project A), Christian Vollmann (early investor in ResearchGate), and Felix Jahn (co-founder of Home24). Bitbond will utilize the funding to expand its customer base and make a highly pronounced impact on emerging markets. Bitbond, which was introduced in 2013, has processed over 600 loans with the number of registered customers touching 10,000 from over 120 countries. Radoslav Albrecht, founder & CEO of Bitbond said: “The additional resources will help us to continue realizing our mission which is to make lending and borrowing globally accessible. We are happy to have such experienced investors supporting us on this exciting journey.” On the development, angel investor Christian Vollmann commented that, “Currently over 50% of small businesses are underserved by banks and don’t have access to credit. Bitbond provides a technological solution to this problem. It’s great to see such an innovative approach being developed in the Berlin startup scene.” The International Finance Corporation of the World Bank estimates that the global credit gap …

Wedbush Report Projects $400 Bitcoin Price By 2016

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The price of bitcoin can be expected to rise to $400 over the next 12 months, according to a new report by Wedbush Securities. Authored by Gil Luria and Aaron Turner, the report begins with the goal of forecasting the future value of shares in the Bitcoin Investment Trust (GBTC), the first publicly traded bitcoin fund launched in March, ultimately concluding it will outperform its current $30.60 price to rise to $40 next year. In its calculations, however, Wedbush expands on its approach to valuing bitcoin based on its expected penetration of large target markets. The bitcoin payments network, it suggests, could end up powering 10% of online payments and 20% of global remittances by 2025 The report reads: “By aggregating the utilization of the various applications, we arrive at our $400 BTC price target, which translates to $40 per share of GBTC. This implies [roughly] $6bn market capitalization, which we would also describe an option on bitcoin supplanting some payment volumes from Visa, MasterCard, PayPal and Western Union, who combine for [less than] $300bn in market cap.” Wedbush indicated it sees bitcoin demand stemming from its increasing use in e-commerce payments, remittances and micropayments due to its ability to reduce costs …

VC Firm Block26 Makes First Bitcoin Bet on Airbitz Wallet

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Los Angeles-based venture capital firm Block26 has completed its first investment, contributing $450,000 to the ongoing seed round for bitcoin wallet provider Airbitz. Launched in June, Block26 has indicated it plans to focus specifically on blockchain and digital currency ventures, contributing to seed to later-stage rounds. Calling the funding the company’s “first big announcement”, Block26 principal Ni’coel Stark indicated that Airbitz is representative of the kind of companies in which her new venture firm is looking to invest. Stark told CoinDesk: “We’re really looking for nuances in the technology. Airbitz is an amazing wallet, it solves problems for consumers, but it’s so much more than that. We see opportunities beyond the wallet, the ability that they have to go into security, their contributions to the Internet of Things, altogether they really make them fascinating.” She went on to call Airbitz “underrated” compared to its competition due to its team’s ability to contribute to areas of the technology beyond simply creating quality mobile bitcoin wallets. “Block26 is attracted to what’s under the surface,” she added. Going forward, Stark indicated that Block26 intends to “innovate along with the space”, and that it plans to focus on a smaller selection of high-quality startups. …

Judge Rules in Peer-to-Peer Bitcoin Lending Lawsuit

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A US judge has ruled that a Kentucky man must repay a loan he originally solicited in bitcoin. Judge Frank Fletcher of the Breathitt County District Court, in an order signed 5th June, stated that Dennis Kerley must repay $67,591 on a loan he had received in bitcoin via the peer-to-peer (P2P) lending platform BTCJam. The loan, dating back to December 2013, fell into default within a few months of receipt. The plaintiff in the case, Daniel Kaminski de Souza, loaned Kerley 11.95 BTC, worth just over $10,000 at the time it was solicited. The case is perhaps suggestive of how US judges who lack a general understanding of bitcoin consider cases, even providing a degree of precedent for future cases involving P2P loans denominated in bitcoin, according to lawyer Kevin Palley, who represented de Souza in the case. Palley told CoinDesk: “The judge did not understand what bitcoin was, and this is a small county in rural Kentucky. So he asked anybody in the courtroom if they knew about it and one or two people raised their hands.” Palley said that he went on to treat bitcoin as a kind of highly speculative foreign currency, a explanation that was ultimately accepted by the court. Kerley, according to Palley, did not …