Tuesday 24th April 2013 – A Big Day for #Bitcoin and Bitcoin Coach

Bitcoin Accepted Here [by freeborn]

Bitcoin Accepted Here [by freeborn] (Photo credit: Adam Crowe)

I woke up yesterday morning and overnight I had automatically sold 5 Bitcoin (BTC) while I slept. I’d set a $149.999 “Sell” order at Mt.Gox , I started my day a few hundred US dollars richer.

I then had lunch with a trusted professional colleague and friend who has a passion for Economics (he paid too, thanks John!). John and friends of his think Bitcoin is fascinating, and maybe a gift for the Economic/Fiscal Liberalism ideology.

In my humble opinion we are bit short on new ideologies for our totally disrupted and rapidly developing new digital world. The last UK ideology belonged to Baroness Thatcher (RIP), its surely time that a new ideology has us all excited about a new future?

After lunch, I was back in front of the Mac. On Bloomberg was the President of PayPal, David Marcus, who, when asked by the interviewer about Bitcoin replied, “Bitcoin is truly fascinating”. 

Image representing PayPal as depicted in Crunc...

Image via CrunchBase

Why is this big? Well he could have said Bitcoin is a MLM, Ponzi type scheme, but he didn’t! For me… that’s BIG, right there! Within minutes of that statement, Bitcoin rose to $165 per coin, or one hundred British Pounds, Big!

Tonight BBC Radio 4  is airing a “The Report” programme that is taking a look at #BitCoin.

For me, Radio 4 discussing Bitcoin is also big, I’ll be tuned in at 8.00pm GMT tonight.

Previous logo of BBC Radio 4 until 2007

Previous logo of BBC Radio 4 until 2007 (Photo credit: Wikipedia)

The momentum is building.

Bitcoin Coach

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The book, the pen, and the ink

Great piece, thank you.

Real Virtual Currency

One of the issues that Bitcoin suffers from the most is a lack of a concise explanation that people can latch on to.

I would like to propose a straightforward analogy that may help introduce individuals to the way in which Bitcoin works; the actual mechanism. It is comprised of three items: a book, a pen, and ink.

1) The book

All of Bitcoin centers around an enormous book called the “blockchain” that keeps a record of every single Bitcoin transaction that has ever occurred. This is why Bitcoins are nearly impossible to counterfeit, because every time you spend some, your request is checked against this huge ledger.

People called “miners” surround this book, and do the job of verifying transactions. For some reason I like to imagine them wearing hooded cloaks. Every 10 minutes a lucky miner is selected from the group, and is allowed to approach the book…

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Weekly Links – April 24th 2013

The bitcoin logo

The bitcoin logo (Photo credit: Wikipedia)

This is the first weekly update. Each week we will share links we have found, interesting Twitter streams and Blogs. We will add some commentary and opinion too sometimes.

So here goes…

BitCoin.org – The official website for “The BitCoin Project” – Check out the resources page too.

Business Insider – A well crafted, easy to follow PowerPoint as to “What BitCoin Actually Is”.

The Guardian  – Why Banks and Government are scared of BitCoin

The Times  – An opinion column by Matt Ridley – It’s only an intro before you are invited to subscribe to The Times, sorry. 

A USA Venture Capitalist ViewY Combinator Founder suspects BitCoin was created by a Government

Why BitCoin is here to stay  – An easy to follow video interview with a Senior Fellow of the Mercatus Center .

Who Uses BitCoin – The demographic breakdown of current users.

How Many BitCoins Are Held Unspent and How Old Are They ?  – Lots of stats, graphs and commentary. 

BitCoin Drilling Machines – BitCoins are “Mined” here is a super size mining drill. A little bit scary, almost tech porn.

We hope you find the links helpful. If have you any questions, please use the comments section.

BitCoin Coach

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The Creation of BitCoin Coach.

Daren Forsyth… London based Digital Veteran, Entrepreneur, Father and Idealist has launched a new business, BitCoin Coaching Limited.

BitCoin Coach is about raising awareness of BitCoin, helping anyone to buy, sell, loan, spend and accept BitCoin as a digital currency, whether you are a consumer or a business.

BitCoin has the potential to change the world a little, just like the Internet (or World Wide Web) has.

Here is a great intro video into #BitCoin :> Why BitCoin Is Here To Stay

In my opinion BitCoin is NOT ready for mainstream consumer adoption right now, but it will be in time. When it does reach critical mass, it might just have changed the world forever, for the better, maybe? 🙂

BitCoin is an Open Source project and I trust it. I want to contribute to the #BitCoin community and project with the skills I have. Follow us at https://twitter.com/BitCoinCoach

We are not a techs or a financial/currency experts. But we know a few and will be sharing opinions and learning via a Twitter feed and this Blog.

Live Seminars will be launched later in 2013 and the aim is to post here three times a week.

Thanks for reading.

Daren – @BitCoinCoach

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