Market Extra: Bitcoin venture capital money hasnt kept up with buzz

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By Saumya Vaishampayan, MarketWatch

NEW YORK (MarketWatch) Bitcoin is the hottest investing trend since the Internet, according to venture capitalists who have sung its praises. But the money hasnt exactly followed.

Venture capitalists invested $74.1 million in bitcoin startups across 39 deals in 2013, according to data provided by CB Insights. Thats less than a third of what Internet companies raised in first-round funding in 1995, when Internet leaders like Yahoo, Inc. /quotes/zigman/59898/delayed/quotes/nls/yhoo YHOO +0.61% and eBay Inc. /quotes/zigman/76117/delayed/quotes/nls/ebay EBAY -0.35% were just getting off the ground.

In fact, for all the predictions that bitcoin is on the cusp of blowing up the traditional financial system, investors have largely kept to the sidelines. The last round of funding raised by Oculus VR the maker of virtual-reality goggles Facebook Inc. /quotes/zigman/9962609/delayed/quotes/nls/fb FB -0.26% agreed to acquire last month was more than all of bitcoins VC haul in 2013.

From an aggregate standpoint, a hundred million bucks in venture is a pittance. Its a rounding error, said Matthew Roszak, co-founder of the venture-capital firm SilkRoad Equity. He has a portfolio of 10 bitcoin investments.

Some industries are likely attracting more funding because they are bigger. Software companies attracted $11 billion in VC funding last year, the most of the industries surveyed, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association, which uses data from Thomson Reuters. The software industry also attracted the most deals, and when that number is taken into account, the average software investment isnt among the highest.

Interest in bitcoin has started to pick up this year. VC investments in bitcoin-related firms rose to $64.9 million across 14 deals in the first quarter, nearly 90% of the money raised last year, according to CB Insights. If funding kept up that pace, it would top $200 million this year.

But its coming from the far back of the pack. The average bitcoin investment was $1.9 million last year. The average investment in biotech, on the other hand, was $9.6 million.

These small-potatoes investments have flown in the face of expectations that the digital currency will bulldoze the way the world uses money, leaving old intermediaries like banks and credit card companies in their wake.

Were still in the very early innings of the bitcoin industry as a whole. If you compare it to the Internet industry, were probably back in 1995 or 1996 and right now its all about infrastructure, said Pamir Gelenbe, a venture partner at Hummingbird Ventures. His firm in late March led a $5 million funding round for the virtual-currency exchange Kraken.

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Market Extra: Bitcoin venture capital money hasnt kept up with buzz

Australian Bitcoin traders hit by crash

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'The money was essentially frozen": Karl Kloppenborg, 22, lost $47,000 in the Mt.Gox collapse. Photo: The Border Mail

Former Macquarie banker Joe Lee and Wall Street investment adviser George Samman suspected something was wrong with Bitcoin exchange Mt.Gox in the closing months of 2013.

The founders behind Singapore-based derivatives trader BTC.sx had begun withdrawing money as early as December, fearing the premium Mt.Gox users paid for Bitcoins was a sign of liquidity issues at the Tokyo-based exchange.

But it didn't stop Lee andSamman from sustaining a six-figure loss when Mt.Gox finally went under last month.

"We were one of Mt.Gox's biggest customers but we got no inside information from them at all," says Samman, chief operating officer at the trader. "They couldn't answer any questions so it was useless. We were lucky to get off what we needed to get off before the whole thing went down."

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In Melbourne, 22-year-old Bitcoin trader Karl Kloppenborg was also burned by the fall of Mt.Gox.

An IT entrepreneur who is building his own Bitcoin exchange, Kloppenborg lost $47,000 in the collapse.

"I realised something was wrong much earlier on I threatened legal action, and said I'd call the banks," hesays. "It became a waiting game when I realised that the money was essentially frozen."

Series of Bitcoin problems

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Australian Bitcoin traders hit by crash

Bitcoin traders hit by Mt.Gox crash

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'The money was essentially frozen": Karl Kloppenborg, 22, lost $47,000 in the Mt.Gox collapse. Photo: The Border Mail

Former Macquarie banker Joe Lee and Wall Street investment adviser George Samman suspected something was wrong with Bitcoin exchange Mt.Gox in the closing months of 2013.

The founders behind Singapore-based derivatives trader BTC.sx had begun withdrawing money as early as December, fearing the premium Mt.Gox users paid for Bitcoins was a sign of liquidity issues at the Tokyo-based exchange.

But it didn't stop Lee andSamman from sustaining a six-figure loss when Mt.Gox finally went under last month.

"We were one of Mt.Gox's biggest customers but we got no inside information from them at all," says Samman, chief operating officer at the trader. "They couldn't answer any questions so it was useless. We were lucky to get off what we needed to get off before the whole thing went down."

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In Melbourne, 22-year-old Bitcoin trader Karl Kloppenborg was also burned by the fall of Mt.Gox.

An IT entrepreneur who is building his own Bitcoin exchange, Kloppenborg lost $47,000 in the collapse.

"I realised something was wrong much earlier on I threatened legal action, and said I'd call the banks," hesays. "It became a waiting game when I realised that the money was essentially frozen."

Series of Bitcoin problems

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Bitcoin traders hit by Mt.Gox crash

'Comets' to lead green charge in Philippines

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Raul Dancel

The Straits Times

Publication Date : 28-04-2014

The ubiquitous jeepney - the linchpin of the public transport system in the Philippines since the late 1940s - may soon be a thing of the past, replaced by a "Comet".

Made by US-based electric vehicle specialist Pangea Motors, the "Comet" - short for "City Optimised Managed Electric Transport" - is a 22-passenger shuttle that runs on lithium ion batteries. On a full charge, it can cover up to 100km at a top speed of 60kmh. Its battery can be topped up on a 220-volt outlet in less than five hours.

The electric van with its zero-carbon emission, however, is just half the story.

Global Electric Transportation (GET), a global partnership set up by Pangea which is marketing the van, plans to roll out 25,000 Comets in the next five years from an assembly plant it is building south of Manila. It is set to deploy the first 30 Comets - imported from Pangea's factory in Vancouver, Washington state - next month.

Pasang Masda, one of the Philippines' biggest transport groups, has committed to buy 10,000 Comets.

The Comet is not the first electric vehicle to hit Philippine roads. In 2008, the Green Renewable Independent Power Producers introduced the "E-jeepney". But the electric vehicles were more a novelty, for use mostly in resorts, industrial zones and university campuses.

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'Comets' to lead green charge in Philippines

Impressive Workington Comets too strong for Peterborough

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Last updated at 13:35, Monday, 28 April 2014

Workington Comets 52 Peterborough Panthers 40: Workington Comets showed why they are one of this years fancied teams for the Premier League title with an impressive victory over Peterborough Panthers.

Mason Campton leads Peterborough's Lewis Blackbird

Comets led throughout most of the match and their victory never looked like in doubt as they surged to a 52-40 victory at Derwent Park on Saturday.

The result gives Workington a perfect start to their Premier League campaign, with them taking a maximum three points.

All the Comets riders stepped up their game against the Panthers and chipped in with vital points on the night.

Number one Josh Grajczonek top-scored with 13 points from his five rides and Mason Campton, Ricky Wells and Kyle Howarth all recorded seven points each.

But man of the match must go to the improving reserve Ashley Morris who picked up eight points from four rides.

Former Comet Richard Lawson was a guest for Peterborough with number one Ryan Fisher ruled out through injury.

He scored a solid 12 points and ex-Comet Ulrich Ostergaard and Lasse Bjerre picked up 11 points each.

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Impressive Workington Comets too strong for Peterborough

Comets cruise on road

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The Newman Comets swept a doubleheader Saturday in Savanna, backing up a 10-1 win over West Carroll in the opener with a 13-8 victory in Game 2 as the home team.

Alex Buhler had three hits and an RBI in Game 1, and Brandon Burke had two hits and two RBIs. Michael Ely, A.J. Sharp, and Marcel Bauby all added RBIs, and Quincy Coomes got the win on the mound.

Buhler had three more hits, including a pair of doubles, and drove in two more runs in the nightcap. Ely doubled and knocked in two, while Dillan Heffelfinger added two hits and an RBI. Ricky Rank drove in a run, and Matt Wagenecht picked up the win.

Oregon splits at home: The Hawks rallied to beat North Boone 14-13 in the opener, then lost the nightcap 10-0 in six innings.

Tyler Blume had four hits, including a home run, and drove in five runs in the opener. Sawyer Reynolds added two doubles and four RBIs, and Adam Bettner had four hits and drove in three runs. Josh Cook added two RBIs, and Oregon scored four runs in the bottom of the seventh to win.

The Hawks were limited to two hits in Game 2.

Missiles split at home: Milledgeville beat South Beloit 6-2, then dropped the back end of an NUIC East doubleheader at MillWheel Park, 7-6.

Jordan Harris allowed one hit and two unearned runs in six innings, and added two hits at the plate. Zach Herin had four RBIs, with two of them coming on a pair of sacrifice flies.

Herin added three hits and an RBI in the nightcap, while Devin Biller, Kameron DawTyne, Garrett Kness and Blake Kappes had RBIs; Kness also drove in a run in Game 1. Kappes took the loss in relief of DawTyne.

Pearl City 8, AFC 0: Tristan Bushman had two of the Raiders three hits in an NUIC crossover loss to the Wolves in Pearl City.

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Comets cruise on road

Praise for Workington Comets riders as they get off to league flyer

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Last updated at 11:52, Monday, 28 April 2014

Workington Comets team manager Tony Jackson heaped praise on his riders after they romped to victory in their opening Premier League match of the season.

Tony Jackson

Comets produced a strong team performance to beat Premier League newcomers Peterborough Panthers 52-40 at Derwent Park on Saturday.

Every Comets rider rode well and picked up vital points.

Number one Josh Grajczonek top-scored for Comets with 13 points from his five rides, but special praise must be given to fast-improving reserve Ashley Morris who picked up eight points from just four races.

In contrast, Peterborough had three riders who scored double points, but were let down by the fact that their lower-order produced only two points between three riders. Not even the return of ex-Comet Richard Lawson to Derwent Park could dent the confidence surging through the Workington ranks.

Jackson said: It was a really good team performance. Everyone chipped in with points. Peterborough is one of the fancied teams and we were a bit nervous going it this meeting, especially with Richard Lawson riding as a guest for them.

It gives us something to build on. It gives the riders encouragement, management encouragement and supporters encouragement.

Peterborough is a good side, so we have done well.

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Praise for Workington Comets riders as they get off to league flyer

RTW Family World Travel Traffic & Pretty Highway Flowers, Getting out of Istanbul Carrentals co uk – Video

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Center for Joint Regeneration in Phoenix Now Offering Stem Cell Procedures for Nonoperative Rotator Cuff Tendon Repair

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Phoenix, Arizona (PRWEB) April 28, 2014

Center for Joint Regeneration is now offering stem cell procedures for nonoperative rotator cuff repair with Board Certified orthopedic doctors. The regenerative medicine procedures are performed as an outpatient and involve either bone marrow derived or amniotic derived stem cell material. Call (480) 466-0980 for more information and scheduling.

Millions of Americans are affected by shoulder pain due to a rotator cuff bursitis or tendon tear. The pain may persist for months and may end up needing surgery if traditional treatments fail. These may include steroid injections, physical therapy and pain medication.

Treatment with regenerative medicine has now become available with stem cell material. The Board Certified orthopedic doctors at Center for Joint Regeneration offer stem cell procedures for rotator cuff injuries with either bone marrow or amniotic derived stem cells.

The bone marrow stem cells involve harvesting the material in a short procedure from the patient, with immediate processing to concentrate the stem cells and growth factors for injection into the shoulder. The amniotic material is obtained from consenting donors after a scheduled c-section procedure. There is no fetal tissue used at all, alleviating any ethical concerns.

Small studies to date have shown stem cell procedures to work well for pain relief and restoration of function with musculoskeletal conditions such as knee arthritis, ligament injury and tendonitis. The stem cell material includes growth factors, stem cells, hyaluronic acid and anti-inflammatory medicine as well.

Center for Joint Regeneration also offers stem cell procedures for joint arthritis, ligament injuries and tendonitis of other areas of the body as well. This helps patients avoid surgery as well as helping athletes return to sporting activities.

For more information and scheduling to discuss regenerative medicine stem cell procedure options, call (480) 466-0980.

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Center for Joint Regeneration in Phoenix Now Offering Stem Cell Procedures for Nonoperative Rotator Cuff Tendon Repair