Friday, October 31, 2014

Digital Revolution in the Granite State

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New Hampshire – the first colony to sever ties from Great Britain – is once again leading the revolution. Along with its centuries-long “Live Free or Die” culture, New Hampshire is becoming a Mecca for digital currency enthusiasts. In just the last few years, Bitcoin experts and entrepreneurs have been eagerly coming to New Hampshire to spread their message. Many Bitcoin users are members of the Free State Project: a cooperative organization encouraging liberty-lovers to migrate to New Hampshire. Members of the Free State Project range from Democrat and Republican Party members to crypto-anarchists, and many in between. As Bitcoin represents an incredible technological advance in the direction of liberty, it should come as no surprise that early Bitcoin movers are invested ideologically as well as financially.


Here are some examples indicating Bitcoin’s growing popularity in the Granite State:



  • Manchester, New Hampshire, is home to the longest-running weekly Bitcoin meetup in the world (soon to hit 121 weeks). Most meetups number 15 to 25 attendees, with a diverse crowd of families, young professionals, teachers, couriers, programmers, inventors, businessmen and more. They gather to eat and drink, hang out, and especially discuss Bitcoin news, altcoin projects, price speculation, new applications for Bitcoin, and more.



  • New Hampshire Bitcoin businesses are growing rapidly. The owners and founders of Lamassu, maker of the popular Bitcoin machine, live and work in Manchester. Restaurants, law offices, barber shops, painters, a martial arts studio and many more businesses accept Bitcoin in New Hampshire. According to Coinmap and Wikipedia statistics, there exists one Bitcoin-accepting merchant for every 44,000 of its residents. This is 4.3 times more dense than neighboring Massachusetts, 4.8 times more dense than the state of New York, 2.5 times more dense than Texas, 2.9 times more dense than California, and 2.6 times more dense than Florida.



  • The Free State Project, which has been accepting Bitcoin since 2011, holds two annual events: Liberty Forum, which is held in the winter, and the Porcupine Freedom Festival (Porcfest), which is held in the summer. Both Liberty Forum and Porcfest are Bitcoin-heavy, featuring large displays of Bitcoin companies such as Blockchain.info, and inviting speakers such as Patrick Byrne, CEO of Overstock.com, and Erik Voorhees and the Coinapult team. Bruce Fenton, Roger Ver, and Erik Voorhees are all signers of the Free State Project, having pledged to move to New Hampshire once a critical mass of fellow libertarians have signed on as well.



  • Bitcoin and cryptocurrency feature prominently in New Hampshire-based radio, including Free Talk Live, Rebel Love Show, Neocash Radio, and local media like Shire Dude.


In addition to instances of purely societal growth, New Hampshire politics itself is becoming changed by Bitcoin. Mark Warden, a realtor and New Hampshire state representative, is among the first of the elected officials to solicit and receive Bitcoin donations for political campaigns. After the election, his team subsequently educated the Secretary of State’s office on Bitcoin, including handling it and accounting for it in campaign finance matters. Upcoming candidates in the 2014 election cycle are joining the Bitcoin train, including State House candidates Shem Kellogg and Andre Rosa, among others.


In the gubernatorial race, it’s Andrew Hemingway that is ahead of the curve. In an interview on Follow the Coin, Hemingway explains his position:



…New Hampshire is a state where we have the opportunity to create the exact opposite situation [regarding] things happening in New York. To do that, we need a governor who understands cryptocurrency, who understands the entire technology framework that’s involved around the blockchain, and the potentials there. And to make sure we keep government out of the way, and to stop government from crushing innovation, which it is prone to do. So I am running on a pro-innovation platform and a pro-technology platform; …we’re very forward looking. I think New Hampshire is a state that has a great potential for the crypto market. I’m running for governor to try to push that.



Hemingway has also expressed ideas regarding utilizing blockchain technology within the State apparatus. Paying public contracts or collecting micro-transactional fees could become vastly easier and more transparent with Bitcoin or with a similar decentralized digital currency. An anonymous New Hampshire driver earned a few minutes of fame on reddit for being the first person to pay a parking ticket in Bitcoin through the use of Brawker.


As Bitcoin use becomes contested or prohibited in other areas of the world, various States will respond accordingly. Some States – culturally or economically tied to a superpower – will fall in line behind a major decision regarding legality. Others will break from the norm, hoping to attract real innovative value from what the rest of the world has shunned. Certain countries of Europe such as Switzerland have acted this way with regards to privacy and digital freedom; places like Hong Kong or Singapore are seen as oases of economic freedom.


Despite whatever obstacles states place upon Bitcoin use, it will continue to grow. It becomes stronger as more people become familiar with Bitcoin and begin preferring it. While Bitcoin demonstrates that geographical proximity is not required for money to emerge, having a concentrated mass of Bitcoin users accomplishes two related goals: 1) Establish local trade patterns with others using Bitcoin, thus experiencing firsthand living a fiat-free world, and; 2) Acculturate the surrounding members of mass society, such as enshrining Bitcoin protection into law and accelerating merchant adoption. Eventually, as Bitcoin becomes more popular in New Hampshire, it will begin to make inroads in people’s economic lives. They will see Bitcoin down the street and in the newspaper, they will see goods quoted in terms of it, they will hear friends or family talk about it. Over time, this becomes the “new language” for commerce. As Bitcoin begins to shake up the world, it is important for there to be locations and groups of people familiar and accepting of Bitcoin rather than those that choose to fight it. New Hampshire is beginning to look like that place.




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Thursday, October 30, 2014

Dark Wallet Walkthrough



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Tuesday, October 28, 2014

BitQuick’s New Campaign

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BitQuick is challenging USA and Europe to sell their bitcoins by using Bitquick.co.


“We’re calling it the BitQuick challenge,” says Founder Jad Mubaslat. “We’re so confident users will come back, that we’re giving away $10 or 0.03 BTC, whichever is greater, to the first 150 new sellers for the month of October and November. We’re also completely removing withdrawal fees for October and November. You now get paid to sell on BitQuick when you’re a new customer.”


After hearing this offer, I had a few questions for Jad that he gladly answered.


Why would I use Bitquick instead of Coinbase?


While institutional money continues to flow into the Bitcoin space and merchant adoption surges, mainstream adoption still lacks. Consumers have still been left with few options to get in and out of the Bitcoin economy quickly and safely. While there are retail options for consumers, such as Coinbase and Circle, they must wait multiple days and go through tedious verification procedures before being able to trade instantly, and even still there are strict limits to how much users can instantly trade.


With BitQuick, you do not have to set up an account, and buyers receive their coins within 3 hours after paying for their order and uploading a photo of their receipt. Sellers often receive money into their account the same day if their coins are priced reasonably close to current market rates. You also cannot buy or sell any bitcoin through Coinbase without a bank account. Buyers do not even need to have a bank account to buy coins with BitQuick. While our sellers do still need to provide a bank account number, we are now serving the masses of unbanked and underbanked buyers that were previously left with few viable options when it came to purchasing Bitcoin.


Why would I choose to use your service to sell instead of, let’s say, LocalBitcoins?


I will just go ahead and list the reasons for you because there are simply so many:


– Never leave the comfort of your home.


– No fees. Ever.


- Quick: receive cash deposited straight into your bank account within hours.


– Protected by BitQuick’s seller guarantee. No more scams!


– Set your own price and order limits.


– Fair playing field for all sellers.


– Simple.


– Insured deposits with Xapo coming soon.


When consumers want Bitcoin immediately with cash, many find themselves resorting to the Craigslist-style marketplace, LocalBitcoins. The problem with LocalBitcoins is that there is no secure arbitration or consistent guidelines. Scams are rampant, and if you get scammed once when trying to obtain your first Bitcoin, you could easily become deterred away from the process and end up being too afraid to try again. People seem to find themselves more comfortable with using a trusted service that makes sure that each transaction is handled smoothly and safely.


What are you doing to solve these problems within the bitcoin space?


BitQuick is tackling these issues head on by creating a streamlined trading process and by offering local traders consistent, speedy, high quality arbitration. Buyers and sellers never even communicate. At its heart, we function like an escrow service. Users list their Bitcoins for sale, deposit them into a BitQuick escrow address, and wait for the consumer to directly deposit cash into their bank account. Once the buyer sends proof of payment, and we confirm that with the seller, the Bitcoins are released. In this way, BitQuick never handles any cash, and payments are settled instantly for the users. BitQuick was also the first fully transparent Bitcoin exchange:


http://ift.tt/1tHJJRq Anyone can verify BitQuick’s reserves at any time! We’re also working with Xapo to provide sellers with insured deposits and multi-sig escrow addresses soon, which is very exciting. We’re dedicated to building a layer of trust with our customers that many Bitcoin users don’t feel with other services, while at the same time trying to reduce the amount of trust you need to put out there in the first place by providing transparency.


One of our customer testimonials from BitTrust put it perfectly: “What’s really great about this service is that BitQuick acts as an insulating party (or interface) between you and the buyer/seller. Why is this great? Because it removes any hassle or stress that might occur if one had to deal directly with the counterparty (buyer or seller). BitQuick’s staff are excellent at spotting potential issues (read: potential scam attempts or errors) that a regular person might miss if they had to deal direct with the counterparty. This particular aspect is what makes the service stand out from say, a LocalBitcoins. Read a LocalBitcoins forums about the various scams that have been pulled on both buyer and seller alike. Such things don’t happen with BitQuick.co. ”


I heard that you guys were expanding to different continents.


Since we are an escrow service, we can expand our trading platform around the world with little friction. We already have platforms in Taiwan, India, Europe and the Middle East. Countries outside the US need BitQuick even more because those consumers have little, if any, options to buy and sell Bitcoin at the moment, and a great number of them are unbanked. We would like to provide more financial freedom to these local markets by giving consumers easy access to Bitcoin, creating less of a need for them to rely on regional banking systems. By allowing for a simple and safe on/off ramp to the Bitcoin economy around the world, we believe BitQuick can continue to catalyze connecting the global economy through Bitcoin.


On August 27th we expanded trading to the Middle East.


What else have you guys been up to?


We recently launched our viral campaign, which offers buyers 50% off the fee of their next purchase when they share BitQuick via Twitter, Facebook, LinkedIn, or Google+.


We’ve also made some functional changes to the platform. Buyers now have the option to cancel their buy orders if an accident was made, and sellers can automatically confirm deposits, along with some other small bug fixes. On AltQuick.co, BitsharesX and BitUSD trading have also been introduced. We’re in the heat of developing a quick buy, quick sell option as well, so keep your eyes peeled! This will make using our system even more convenient with the added ability of placing an order within moments, all from our front page.


We’re working to implement bank transfers as well by the end of 2014. While buyers currently must take a quick trip to the local credit union or bank to deposit cash when using the current system, this new feature would allow everything to be done from home if desired.


Tell me more about those free bitcoins you told me about at the beginning of the article.


Of course. To qualify for the free Bitcoins:


– You must use a bank account previously unused on BitQuick.


– You must use either a local credit union, Bank of America, Wells Fargo, Capital One, PNC Bank, Citibank, TD Bank, or SEPA transfer to qualify.


– Your order must remain priced within 10% of BitFinex last price.


– Your order must remain live for 1 full business day or sell out.


– If you list 1-2.99 BTC you will receive $5 or 0.013 BTC (whichever is greater).


– If you list 3+ BTC you will receive $10 or 0.03 BTC (whichever is greater).


The Bitcoin are sent to whatever address you like, and once you receive your free Bitcoin, you can even withdraw the rest of your sell order free of charge if you like!


I’ll also be speaking at the Purdue Bitcoin Conference on November 1st, so come say hi to the BitQuick team!




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Last September 17th to 19th, the Digital Currency Summit was celebrated in Andorra, the small country placed three hours away from Barcelona; it was a three day debate forum which treated topics like the use and importance of cryptocurrencies for banks, governments, investors and general public. In order to achieve that goal there were organised conferences and debates around four threads: “Introduction to Digital Currencies,” “Investment opportunities,” “Regulation: laws and taxes,” and “Financial and Banking,” in addition to a presentation of several startups and cryptocurrency-related projects.


Andorra is a micro-state composed of 85,000 people and characterized by a strong traditional banking system, and is usually considered as a tax haven —althought it is not— because of its bank secrecy and a quite flexible fiscal system. Historically it has been a major financial center and a reliable place to deposit money in.


Alex Puig, the event organizer, thought of Andorra as the idoneous place for this event to happen. As a software programmer, Bitcoin fanatic and expert in Andorra’s startup and banking environment, it was for him a great opportunity to bring together a revolutionary technology with bankers, politicians, startups, and investors. And it worked out! Networking thrived amazingly well between persons from different fields during the breaks, even though we all missed the attendance of Andorran political representatives, who didn’t appear.


The talks and debates were exceptional, fueled by speakers as important as Jon Matonis, Constance Choi, Marco Santori and Flavio Pripas, who talked about a wide range of topics from cryptocurrencies to DAOs, the financial potential of Bitcoin or the way banks and startups can implement Bitcoin to their business models.


These last talks were particularly interesting to the banking sector, well-represented by top Banks as “Banca Privada d’Andorra (BPA)” and “MoraBanc”, that are realizing that the world is changing around them while the banking sector is being left behind. There are currently many voices in the Bitcoin community that think that Bitcoin doesn’t add significant improvements as a currency compared to traditional currencies, and that see the true revolution of Blockchain and Bitcoin in their use as financial and services tools; that perspective might be more interesting to the banking system.


That is the view of MoraBanc’s delegate Juan Carlos Salinas, who thanks to the conferences has started to realize the huge potential about Bitcoin, even thought it is still too early for them to get involved in it as a business opportunity. Joan Manel Fernández, from BPA, admits that they can hardly imagine Bitcoin as being really important in the future since that would mean to place confidence in a new decentralized structure with no financial intermediaries, and that will not be easy, but nevertheless they are resolved to keep abreast of cryptocurrency’s development and to keep in touch with Bitcoin sector. On the other hand, both find regrettable the lack of institutional support to the Summit, given the suitability of Andorra for this kind of technological initiatives, in the same way that has been happening in other small scale and flexible States as Malta, Gibraltar and the Isle of Man. Jon Matonis, in his interview for El Diari Ara, said in similar terms that Andorran politicians should support banking efforts in implementing the new technologies providing security and predictability or, at least, not raise barriers against innovation. In his view, the banking sector should be less conservative if it wants to attract investment.


We talked about all these topics with event organizer Alex Puig.


Ferdinand Reyes: Good morning Alex, could you explain to us what is the approach of the meeting and what makes it different from other meetings?


Alex Puig: Our approach was formative: we didn’t want a conference focused on people who already knew about cryptocurrencies; we were rather interested in educating decision-makers and managers in the financial sector. We want to be the meeting point between the most disruptive entrepreneurs and the financial sector, maybe a bit more classic but yet willing to go forward to the XXIst century.


FR: What is your assessment of the Summit? Did it fill your expectations?

AP: Yes and no. It did in the qualitative side, the talks were high level and networking during the event has satisfied everyone beyond all the forecasts. In the two days of conferences I have seen the creation of many professional relationships and alliances that might end up in profitable businesses. On the other side, I expected this new technology to arouse peope’s curiosity, and that Andorra could have attracted much more attendance. In this aspect I would have liked to pack the conference center.


FR: What is the state of Bitcoin in Andorra? What does its future hold?

AP: Bitcoin is currently alegal: there is no official position on the issue. If the government reacts and sets out a stable regulatory framework, Andorra might have the potential to attract Bitcoin startaps since it is not a fiscal haven and has got a deeply entrenched strong banking sector.


FR: Andorra is a flexible country for business and investments. Has the summit had the impact you expected on financial and governmental circles?

AP: In the private sector, definitely. Local big business and specially some Banks have changed their minds about cryptocurrencies and have started talking about studying deeply how it works and how to use it. We will see what happens with the government; one of their first priorities is to find for a new, less dependent on tourism and sustainable economic model for the country. However, they didn’t show any interest in the Summit.


FR: Are you looking forward to the next step or planning another project?

AP: Yes, we are working to bring the Digital Currency Summit to Barcelona and Madrid in May 2015.


FR: Thank you very much for the interview and for this fantastic Summit, Alex.


The Summit left on me a very good impression due to its professional organization, the closeness of its organizers and the easiness with which I could talk with loads of people. I hope that the next events in Barcelona and Madrid will see a larger attendance; the high quality talks and the networking opportunities it brings are well worth taking a chance.




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