September Bitcoin SV London Meetup highlights

The latest Bitcoin SV London Meetup took place on September 5th in Central London, an event organized by the Bitcoin Association with the intention of nurturing the local Bitcoin SV community in a relaxed, informal setting.

This edition of the Bitcoin SV London Meetup series had a laser focus on the upcoming CoinGeek Seoul Conference, taking place October 1-2, with special guest appearances from the Bitcoin Association’s Jimmy Nguyen, nChain’s Steve Shadders and Dr. Craig Wright. The trio separately delivered brief presentations on what most excites them about CoinGeek Seoul and how the event has been designed to push forward the Bitcoin SV vision.

“As I always like to say, its time for Bitcoin to grow up. And for it to grow up, it needs to get beyond the crypto hobbiest ecosystem and get into mainstream”, Nguyen told CoinGeek.com.

“We have been reaching out to enterprises to educate them about building on Bitcoin SV and attracting them to come to CoinGeek Seoul to learn more. We’ve been reaching out to people in the traditional, institutional investment community – on Wall Street, in San Francisco, in other places – to educate them about why Bitcoin SV is a great asset class for they and their clients to consider”, he said.

“And finally, we’ve been reaching out to venture investors so that more investment funds around the world are starting to take a look at Bitcoin SV”, Nguyen added.

Nguyen pointed out that specific to CoinGeek Seoul, there will be an investment panel on the second day of the conference with a series of investors who will reveal the things they look for when considering investing in a Bitcoin start-up.

The Bitcoin Association will also be hosting a pre-event “BSV Venture Pitch Day” on September 29th, two days before the formal CoinGeek Seoul Conference. On this day, hand-picked start-ups will pitch their projects in front of a panel of different investors for the opportunity to be considered for investment.

Attendees were delighted with Dr. Craig Wright’s presence on the night and he spoke on the importance of engaging more developers within the Bitcoin SV ecosystem, highlighting how CoinGeek Seoul will help him achieve this goal.

“We want to actually get people engaged in building. I keep saying this. A distributed system needs developers everywhere. We need lots of systems, we need lots of people actually building an ecosystem”, Dr. Wright shared.

“You can’t make a currency like Bitcoin that is really something that takes a life of its own on and grows without lots developers who take these things up and do them”, he said.

Steve Shadders spoke more on the technical side, emphasizing the significance of the upcoming Genesis upgrade and his goal of educating BSV enthusiasts at all levels of the upgrade’s importance for the ecosystem.

“My presentation on the technical day is going to be specifically about Genesis.  It is important because its one of the most ambitious consensus changes that’s been done in the history of crypto.  I think we’re making more consensus changes in this particular upgrade than has ever been done before”, Shadders revealed.

CoinGeek Toronto after party highlights

CoinGeek Toronto Conference 2019 after party highlights

After two amazing days of learning at CoinGeek Toronto- an invite-only Developer’s Day and a Main Conference Day – the Bitcoin SV (BSV) creator, BSV leaders, developers, merchants, investors, miners, media and other BSV enthusiasts gathered at EFS, Toronto’s hottest night club, for an evening of birthday celebrations and Caribbean fun. 

The party doubled as the official closing party for CoinGeek Toronto and CoinGeek Founder Calvin Ayre’s birthday party, featuring a Caribbean theme with a steel drum band and gorgeous women dressed in Carnival attire upon arrival.

Go-go dancers, twerking masters, Caribbean-themed canapes, more gorgeous women and endless drinks were waiting for guests inside as a DJ spun party tunes on the main floor. A more chilled out space on the upstairs roof deck awaited those seeking a more relaxed atmosphere.

“What I am impressed about the most is the community that’s coming together around this product. The developers understand that scaling solves all problems, that’s a direct quote from Dr. Craig Wright and I think its happening right in front of our eyes. I don’t know what else to say, its amazing”, Ayre told CoinGeek.com

When asked about his reaction to the party, Michael Hudson of Bitstocks used one word to describe it- “crazy”.

“This is just crazy. Everyone’s had a great event its been very heart-felt, very heart warming and I think everyone deserves to let off some steam right now”, Hudson shared.

“This is the Woodstock of Bitcoin!”, James Belding of Tokenized told CalvinAyre.com.

“Amazing. I think although we’ve had hard forks throughout the lifecycle, Bitcoin has brought our community closer together. We’re now a family, even though its quite small, we’re a society like Craig mentioned and what better way to enjoy it over drinks and friends”, added Stephen Lerotheou of Bitstocks.

The creator of Bitcoin himself, Dr. Craig Wright, made an appearance as well and toasted to CoinGeek.com with Bitcoin Association’s Jimmy Nguyen by his side, both with a glass of Dom Perignon in hand. 

“Craig is a mean dancer!”, Nguyen revealed to CoinGeek.com

And of course, what Caribbean-themed party is complete without world class twerking? Not ours! When asked what he thought of the twerking performances at the party, Alex Agut of Handcash smiled and responded with, “I think the quality is pretty good”.

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Becky’s Affiliated: A discussion with Calvin Ayre on today’s BSV landscape

With CoinGeek Toronto just around the corner, I wanted to sit down with our Founder, Calvin Ayre, to get his thoughts on some of the latest topics surrounding the Bitcoin SV ecosystem and why our readers should consider joining him at the conference. 

Craig Wright is Satoshi Nakamoto

Since the creator of Bitcoin, “Satoshi Nakamoto,” revealed his technology to the world in January 2009, the question of who is behind the pseudonym has been a popular debate amongst crypto enthusiasts.

Earlier this year nChain’s chief scientist, Dr. Craig Wright, confirmed he is Satoshi Nakamoto, and despite some backlash from the community, Ayre has publicly stated again and again that he is 100% positive Dr. Wright is telling the truth.

“Bitcoin was invented as a direct solution to government interference and people’s ability to spend their money where they want to in the gaming industry. So Bitcoin actually comes from the gaming industry,” Ayre explained.

“Craig’s got a background in the gaming industry, I have a background in the gaming industry and one of my close personal friends from the gaming industry actually knew Craig, another Australian gentleman, when he invented Bitcoin,” he said.

“Subsequent to that, I was introduced to Craig, and Craig has demonstrated in a number of other ways so that there’s no doubt in my mind that Craig is Satoshi Nakamoto and Craig is going to be proving that in court this year,” Ayre revealed.

Going to court to stop internet trolling

When asked for more details on going to court, Ayre explained that in an effort to squash endless digital trolling, both himself and Wright have engaged the same law firm to assist in obtaining relief and helping to set the facts straight.

“Essentially what [the trolls] are trying to do is defraud Craig of his own legacy and defraud the rest of the planet of the truth about the true power of original Bitcoin which is now, today, BSV,” Ayre said.

Craig is forced to go to court right now to basically stop the other side from lying. Craig is more than happy to defend his technology and that’s where the conversation should be, but these attacks on Craig because he’s overweight or because he’s a fraud of some sort, that his university degrees aren’t true- that’s just not true. That’s just not real,” he explained.

“And no amount of attacking Craig for these crazy arguments is going to make their technology work. So these people that are conflicted and have interests in other technical platforms, that are threatened by the power of real Bitcoin SV, what they need to do instead of wasting their time unlawfully attacking Craig, is go back and fix their stuff,” Ayre added.

Scale it and they will come

While there are plenty of opinions flying around Wright’s reveal of his true identity, no one can deny Bitcoin SV’s unique ability to scale massively which has been achieved in a relatively short period of time.

“It’s absolutely true. I’m a business owner and entrepreneur, and I know for a fact that I would not invest in a platform for an application development if I didn’t know it could already handle the volume that I anticipate from the success of my project. And that’s just business 101 and that applies to the gaming industry and it applies to all industries,” Ayre explained.

“In just a few months we’ve got a platform that can regularly mine 128 MB blocks and if you look at the other platforms, BCH ABC’s largest block is 4.5MB, BTC Segwit is 2.5MB and Litecoin is 1.5MB and original Bitcoin, BSV, is regularly doing 128. We think by the middle of the year it will be 500MB and between 1 and 2GB blocks by the end of the year,” he revealed.

“So I don’t know what these other platforms are going to do, but to me, instead of attacking Craig, they should focus on figuring out on how to make their technology work because right now, none of them work,” Ayre added.

Big blocks: Why should we care?

While mining several 128MB blocks on the BSV chain is big news for crypto enthusiasts, the average person out there may not understand the significance.

“Everybody’s looking at it from a different perspective, but scaling solves all problems. It doesn’t matter where you are,” said Ayre.

“Scaling removes the incentive for forking, so the technology is not going to fork anymore, scaling allows the transaction volume that will create the financial incentive for miners to continue to mine which creates the security on the network, so the security is enhanced by the scaling,” he said.

“Scaling gives the confidence to enterprise and start-up development to aim their application development at that network which is going to stimulate the transaction volume that’s necessary to attract the security and at the end of the day, just like there’s no need to be two internets, there will only be one platform. And that platform has to, by definition, be the one that scales,” he added.

“So all these business models that you can dream of, that could possibly be done with frictionless micro-transactions on the internet can only be done on BSV and I think that everyone should applaud that, its going to make our lives better,” he said.

Focus on utility, not price

Despite being around for 10 years now, plenty of people are still fixated on the price of Bitcoin (and other crypto currencies) and they often mistake a higher price for a superior technology.

“The prices of tokens out there today are artificial. They are not real. Fundamental, long-term value of a token is created by utility and utility only. All this other fluff, promotional fluff that’s out there, or FUD, to me they’re a bunch of Ponzi schemes, they’re trying to talk people into buying these things to make the price go up,” Ayre explained.

“Real utility, you don’t have to promote it, it goes up because it becomes in demand because it can be used for something. That’s utility and that’s BSV, the only one that’s got true, underlying utility. I think its significantly undervalued from that perspective and I tell people that if you are interested in investing, then you invest in utility, you don’t invest in price,” he added.

CoinGeek Toronto

Coming to North America for the first time, CoinGeek’s next conference will take place on May 29th-30th in Toronto, Canada, this time with a special focus on massive on-chain scaling.

“This is the third [conference] I’ve done and I’m going to be doing lots more, the next one after this of course is in Seoul in Asia, and I’m going to be doing these around the world,” Ayre confirmed.

“We originally started them to talk about different aspects of platform and it dawned on us that what we really needed to talk about is scaling because that’s the one area where people that are supporting these other technologies that don’t work are very confused,” he said.

“Craig said [Bitcoin] would scale, Bitcoin was born an adult and now he’s got control of Bitcoin again and he’s proving that he was right and I think that’s pretty much the end of the story,” he added.

Bitcoin London meet-up recap

Bitcoin London meet-up recap: Moving forward with the original Bitcoin

The first Bitcoin London meet-up of 2019 took place in Finsbury Square on Tuesday evening, April 2nd, bringing together local professionals who wish to network and learn more about the technology outlined in the original Bitcoin whitepaper.

Sponsored by CoinGeek.com, the event was entitled “Moving Forward with the Original Bitcoin” and featured five quick presentations, complimentary food and drinks, networking space and the presence of Bitcoin SV (BSV) leaders such as Dr. Craig Wright and Steve Shadders of nChain and Michael Hudson of Bitstocks.

Shadders, nChain’s Lead Developer, hosted an audience Q & A, covering topics such as OP_RETURNs, BSV’s unique ability to massively scale, and the recent mining of a record-breaking 128MB block and how this achievement benefits miners.

“What we’re going to start to see, pretty much from now, is miners having their behavior influenced by the economic incentives of Bitcoin. We’re 10 years in and Bitcoin is now starting to exhibit the properties that it was designed to exhibit. So its almost like a second birth of Bitcoin,” Shadders told CoinGeek.com.

In addition to educating delegates on the latest in Bitcoin, events like Bitcoin London’s casual meet-ups are important for nurturing the Bitcoin ecosystem and creating a sense of physical comradery in an otherwise digital setting.

“We just really want to be with people and network with people. At the CoinGeek Conference we met so many intelligent people, people that are building, people that are passionate. I just love being around people that are passionate about Bitcoin,” shared Meet-up speaker $marquee Mark Allison, Enterprise Software Architect.

How to engage “regular people” in everyday Bitcoin use was another topic of discussion on the night, covered by Rafa Jiménez, Co-Founder of Handcash. Jiménez explained the philosophy behind HandCash wallet development and how they strive to create wallets that the “average Joe” can easily use.

“The biggest thing that we found when we arrived to the ecosystem was to improve the backups, improve the way that we can send money to other people and having local currency [displayed], what the people are using to having. These were our biggest hypotheses at the beginning of the project,” Jiménez shared.

Bitcoin London’s Darren Eggenschwiler served as the evening’s moderator and also took an active role in the overall organization of the meet-up, a unique opportunity to match names to faces.

“Putting something in a physical location makes it kind of real, right? I have a lot of internet friends—a lot of people here have a lot of internet friends—that develops the community in one way, but we’re developing the community at a location in person. Its different face to face, its better,” said Eggenschwiler.

“I think its important that we develop small communities all over the world that foster BSV building and BSV friend-making. I’m here to make friends and business partners and we’re going to build the future,” he added.

For those who want to take part in the building of BSV’s future, the next opportunity to make a difference is May 29-30 in Toronto at the CoinGeek Conference. The benefits of massive on-chain scaling for businesses, developers, miners, consumers and more will be covered and anyone interested in learning more about BSV and the Satoshi Vision is welcome.

Bitcoin Association Wallet Workshop wrap-up

Bitcoin Association Wallet Workshop wrap-up

The first Bitcoin Association Wallet Workshop, hosted by nChain and sponsored by CoinGeek, took place in London the week of February 18th and it was an undeniable success. The purpose of this event was to gather relevant parties in the Bitcoin SV (BSV) space to collaborate, share ideas, solve problems and pave the way for further development in BSV wallet solutions.  

“This is one of the great advantages of Bitcoin SV, we’re all on agreement on the base protocol. The base protocol is set in stone. This is extremely valuable to businesses like everybody here at this event, so we’re able to actually think about things that are at the layer above. Its how do we apply this protocol to solve problems that are all in our mutual interests,” shared Ryan X. Charles of Money Button, a key participant in the workshop.

“We’ve been extremely productive, basically coming up with standard after standard after standard of ways to collaborate,” he said.

“We’re working on all sorts of things, identity systems, probably the most interesting thing is actually just an improved version of BIP70 for people who are familiar with that. Its basically just a way to allow all of the different wallets to interact with one and other in a way that’s just going to make the user experience better for everybody,” Charles added.

The energy was buzzing throughout the workshop’s five days and the outstanding teamwork allowed for significant milestones to be achieved in a short period of time.

“Because we’ve got probably a majority of the wallet ecosystem here and everybody on board with this idea and they are all very keen to get back and start implementing, that’s going to create a huge amount of momentum within the Bitcoin SV ecosystem and its probably one of the biggest achievements I think that we’ve seen so far in Bitcoin SV’s history,” revealed nChain’s Technical Developer Steve Shadders.

What unites the BSV community in a unique way is that everyone working within it shares the same ultimate vision—for Bitcoin SV to massively scale and become the world’s new money and enterprise blockchain. Now that everyone is on the same page, “think tank” style events such as the Bitcoin Association Wallet Workshop are an integral part in achieving the ultimate BSV goal.

“It seems like we all focused on putting products out there, things that could actually be useful to people, so just getting solutions in the hands of end users is what’s important to most of the people here and to that end having that same goal, that same vision is really helpful to just move things in the same direction,” shared Jeppe Madsen of Coinify.

“From this meeting I’ve been able to come up with some ideas that are really going to improve how Centbee works and make sure that it really does become the world’s favorite wallet,” added Lorien Gamaroff of Centbee.

“I think historically when it comes to these sort of discussions, a lot of people always have antagonistic views and they always bring them up,” he said.

“But what was quite distinctive about this gathering was that we were all very eager to work together and come up with solutions. And also understanding that we are an ecosystem and we need to be able to work together and collaborate and find ways that we can actually grow that ecosystem so that we can, in fact, have successful businesses,” Gamaroff added.

Looking back how much was accomplished during just one short week, nChain has already decided to increase the number of workshops on the calendar in an effort to push the BSV industry forward as quickly as possible.

“I was initially planning on this event maybe being a once or twice a year event and in the course of the last few days I’ve upgraded that to four times a year. I’ve already been in touch with the sponsors of this event and made that suggestion and they’re 100% on board with it as well,” Shadders revealed.

“We’ve made so much progress in this week just by having everybody in one room, next time maybe we’ll cast the net wider and have more people participating, but yes, I want to see more of this progress because it helps Bitcoin SV move forward in leaps and bounds,” he confirmed.

CoinGeek Week Conference 2018 Highlights

CoinGeek Week Conference 2018 Highlights

CoinGeek Week 2018, the second conference organized by CoinGeek.com, succeeded in gathering the brightest minds and pioneers in the Bitcoin SV (BSV) space and educating those who wish to learn more. Taking place at a pivotal moment in Bitcoin history, the conference kicked off a message for Bitcoin to “Grow Up” before mass adoption can follow.

“We have a pure version of Bitcoin right now and everybody that’s here supports this and wants the same thing which is a stable platform that massively scales. And that will allow this platform to grow up and be able to be used by adults which means businesses”, said CoinGeek’s Founder Calvin Ayre.

Business owners made up a large percentage of the delegates populating the busy CoinGeek conference floor, alongside merchants, media, developers and other Bitcoin enthusiasts. The event’s impressive line-up of speakers covered all corners of the Bitcoin SV industry, in an effort to provide relevant insights for every attendee from expert to noobie.

The first of CoinGeek Week’s three days focused on Application Development and James Blending of Tokenized, the winner of CoinGeek’s 5 million pound contest, delivered a presentation on his innovative platform and how it will enable businesses, governments, the legal industry and more to take advantage of the BSV chain.

I see the Bitcoin SV ledger as a huge opportunity to standardize a lot of the business communication that goes on throughout the world. So with EDI [electronic data interchange] for example, you’ve got purchase orders, invoices, shipping notices, things like that. But also contracts, agreements and that extends to smart contracts which is something that’s new and innovative, I think”, shared Belding.

Prominent Bitcoin figure Ryan X Charles of Money Button, a firm believer in building applications on the BSV chain because Bitcoin SV is Bitcoin, revealed his reasoning to the audience.

“Bitcoin is sound money that scales to the entire world. I will also say that given the recent events, within the SV world, people deeply appreciate stability. They deeply appreciate that we need to keep the protocol the same. So that gives me confidence, the fact that it is the original Bitcoin, as well as the fact that the values of people in the SV world are aligned with stability and growth”, Charles said.

Day two of the conference was dedicated to Merchant Adoption and the importance of educating merchants on how they can use Bitcoin SV right now, the only path to growing the Bitcoin ecosystem. Elizabeth White of The White Company is a first-mover in this space and revealed some of the high-end items available for purchase in BSV via her online shop.

“Through our white market luxury store we source everything from PAMP Suisse Gold to Lamborghinis, to trips around the world, so anything your heart desires that you would like to spend your crypto currency on we can facilitate”, she revealed.

“We also need real businesses which are not in Bitcoin to start using Bitcoin, using the global ledger in ways which helps their existing businesses which have no revenue streams tied to crypto currency price appreciation at all and I think that’s the way to build a healthy economy”, added speaker Jerry Chan of SBI Holdings.

The final day of the conference focused on the future of Bitcoin and featured a selection of innovative, forward-thinking speakers, including Dominic Frisbee, British comedian and author of “Bitcoin, The Future of Money”.

“What people don’t realize about Bitcoin is the sheer scalability of the thing – its more scalable than fiat money- there’s still two million unbanked people in the world who will be able to be accepting crypto currencies as a means of payment or they’ll never get a bank account. Fiat money is limited by borders, crypto currency is borderless and it just makes it so much more scalable”, Frisbee explained.

nChain Chief Scientist Dr. Craig Wright wowed the crowd when he unveiled his Bitcoin SV Metanet project, explaining how it will revolutionize the way people do business and exchange information.

We’re redoing the internet in a way, we’re going to use the internet as just one of any ramp people can get to create a full commercial capitalist peer-to-peer network so that anyone can route any packet, get any data, watch any video, stream anything, create any data, create any game, any application, whatever else, and get paid for it”, Dr. Wright revealed.

After three fruitful days of presentations, networking and fun, the Bitcoin SV community left feeling positive and enlightened, with clarity on the bright future that lies ahead.

Bitcoin SV’s journey has just begun”, shared the ever-inspiring nChain CEO and CoinGeek Week emcee Jimmy Nguyen. 

“This [conference] came at a critical time. It brought people together. I think it made people feel very confident in the future of Bitcoin SV…It just happened to come after the network upgrade, and the hash war period decided to be ended by CoinGeek. But I think it gave people a sense of hope, inspiration, a rededication to the belief in what Bitcoin’s core principles and designs are”, Nguyen added.

CoinGeek Miner’s Day recap

CoinGeek Miners Day recap

The last week of November marked the inaugural CoinGeek Week, a four-day event including a three day conference and special “invite-only” pre-conference Miners Day on November 27th at the Mondrian in London.

The purpose of a standalone Miners Day was to bring together miners in the crypto space, emphasize their importance in the Bitcoin SV ecosystem and introduce them to key players in mining hardware.

nChain, the industry’s leading Blockchain development company, has always recognized the importance of miners and their ability to remain profitable on the chain they are mining on.  

“The Bitcoin SV project and its road map we think is critical to the success of Bitcoin because it really focuses on scaling to ensure higher volumes of transaction fees in the future to make up for block reward halving that is going to happen in two years”, nChain CEO Jimmy Nguyen told CoinGeek.com.

“The block reward cuts in half from 12.5 to 6.25 coins, so miners need to make up more value in the transaction fee component of their revenue instead of block rewards in order for the network to sustain itself and for miners to be profitable from mining, hardware manufacturers to be profitable, its all interrelated and it starts with the miners”, Nguyen added.

The Miners Day sessions kicked off with an inspirational speech delivered by CoinGeek.com Founder and Bitcoin SV pioneer Calvin Ayre, underscoring the importance of scaling and how the ability to scale impacts the mining industry.

“I personally believe that the only salvation for the mining industry is scaling”, said Ayre. 

“The only technology, the only platform out there that’s been proven to be able to scale – and has a scaling roadmap that’s real – is Bitcoin SV. So it is my personal opinion that the future of the mining industry itself is directly connected to the success of Bitcoin SV and that any miner that isn’t supporting Bitcoin SV is working against themselves”, Ayre explained to the audience.

A recurring theme throughout CoinGeek Week (and in the messaging leading up to the event) is that its time for Bitcoin to professionalize and grow up. The road to mass adoption comes along with a more business-focused approach and pioneers in the mining space such as Core Scientific and Squire Mining are playing their part to help this process along.

“One of the things we’re doing today is we’re bringing all of our expertise on high performance computing, enterprise grade servers, we’re bringing it all down to the crypto currency level to teach this industry how you go build systems at scale”, shared Kristy-Leigh Minehan, Core Scientific’s Chief Technology Officer. 

“How you go and build sustainable networks that Facebook runs on today, that Microsoft runs on today, that Amazon runs on today. And we’re applying all of that as it exists to Bitcoin mining and to SHA256”, she revealed.

“What separates us really is our focus on the enterprise space”, added Taras Kulyk, CEO of Squire Mining and CoinGeek Miner’s Day host.

“We really are looking at helping to build out the hardware for the network of the future. What we’re focused on for the design side is really an efficiency, making sure that the power consumption per terahash is really competitive, I would say world-leading”, he said. 

“Ideally, we’d like to be the Bitmain killers – that’s a bit aspirational right now – but really we’ve got the team in place in Korea, in Taiwan, really globally to really give us an advantage and gives us a good shot at that”, Kulyk added.

In addition to featuring leaders in the mining supplier space, CoinGeek’s Miners Day welcomed the miners themselves and facilitated an intimate atmosphere for networking and learning.

“I enjoyed today, I didn’t know what to expect from the Miners Day, but I come away pretty excited about the payment processing system for Bitcoin SV. In my opinion that’s something that’s been lacking as far as the whole crypto space”, shared Core Scientific’s Chief Revenue Officer Russell Cann.

“We’ve got to get it user-friendly to the individual users that don’t care about cypto if we really want to make it used worldwide”, Cann added.

“We’ve seen a lot of miners who want to make money by just what’s coming in every day. But I think its really important that miners think about the long term and when they start to do that the importance becomes not on the money that they make every day, but on the money that they’ll make in the future and the way that they do that is by defending the protocol”, Chris Ames of Mempool said. 

“So its really important that they make decisions based on what’s going to bring them money for years to come”, Ames added.

To close out the day, nChain’s Chief Scientist Dr. Craig Wright delivered a presentation highlighting the importance of compliance for miners and mentioned the risks that come along with mining collusion.

“Under the Proceeds of Crime act 2002, section 729, there’s an amendment that will come through in February next year here in the UK and that’s really, really interesting”, Dr. Wright explained.

“Without pay to script hash (P2SH), as a miner who colludes to have a double spend, the government will just put an order in and turn off your electricity. It won’t be everywhere, but it will be China, it will be the US, it will be most of the Western World that will end up doing this sort of stuff”, he said.

London Bitcoin Cash (BCH) Conference 2018 recap

London Bitcoin Cash (BCH) Conference 2018 recap

The London BCH Conference took place on the eve of April 25th at the IDEALondon, a trendy venue in the heart of the city. From 6pm until 10pm, dozens of excited BCH enthusiasts, users, merchants and other professionals came together to network, learn and nurture the local BCH community.

“The energy is amazing!” Alex Fauvel of Cyber Capital told CoinGeek.com.

“I came to the first Bitcoin Cash Meetup in London I think in November, just after the fork- about 30 people in a small pub- and its grown to be an actual conference with proper speakers which is fantastic to see that growth rate in such a short period of time,” he said.

Six speakers made up the conference agenda with four short presentations and one panel discussion, with networking breaks before, during and after.

The conference sessions were dedicated to growing the BCH ecosystem, including topics such as economics of crypto currencies, the importance of and how to generate merchant adoption, why BCH is the original Bitcoin, how BCH is being used for charity, regulatory challenges and more.

Fauvel, Cyber Capital’s Fundamental Analyst, spoke on the economy of cryptocurrency networks and after five years of research on cryptocurrencies, he has decided to stand behind BCH.

“When I first discovered crypto currencies in 2013, like everyone, I fell in love with Bitcoin and then it broke my heart and Ethereum was all the rage”, Fauvel shared.

“Something never really sat quite right with Ethereum to me, that’s probably partly because it was supposed to be built on Bitcoin. And then Bitcoin Cash happened,” he said.

“And to be honest, before the fork, I didn’t think a minority fork could survive, but then my understanding of the incentive mechanisms that drive miners to continue to mine developed, so that I realized they are not hostile. If they are hostile, the whole thing breaks down. But because [miners] are part of the system, they are never going to be hostile,” he added.

Ricardo Sancho, co-founder at Cryptartica, the company behind the conference’s organization and online shop selling BCH-branded merchandise for BCH, delivered a presentation on the importance of merchant adoption.

“I think that one of the most important things is to get both users and merchants on board. I think that at the end of the day the price is not the most important factor. I think its actually getting those merchants who have options for the users to spend and having the users actually wanting to spend that money,” he said.

“Making the money move around is what actually creates an economy and that’s what will actually get BCH off the ground and into a real cryptocurrency that can be used by everyone in the world,” he added.

The importance of education on Bitcoin Cash and how the technology behind it can improve our world was another popular topic of discussion throughout the conference.

“People tend to forget that one of the most important things is actually to educate people. They will not learn and they will not find out about Bitcoin Cash or any other cryptocurrency unless we put in that effort,” Sancho said.

“And it has to be us enthusiasts—us the first Bitcoin Cash users—to actually do that work, to go out there and educate people. Then let them find out by themselves how great this technology can be,” he said.

In addition to bringing the general public up to speed, regulators around the world must be educated on cryptocurrencies and blockchain otherwise we’ll start to see more and more clampdowns due to misunderstanding.

Panelist Mohit Lalvani is from India and after working in the crypto industry for six years, the Reserve Bank of India (RBI) decided to prohibit any association with crytpocurrencies. Being an RBI-regulated Payment System Operator in the crypto space, Lalvani’s plans have been disrupted, to say the least.

“So clearly what’s happened is there is a lack of education and I believe its actually down to incompetence. These guys are completely incompetent to understand how crypto currencies work,” Lalvani told CoinGeek.com.

“They come from a Central Bank mindset where they print money and clearly [crypto currencies are] something that they just don’t understand. And so I think that’s very important for the whole world and regulators across the world to start understanding how this technology works,” he added.

According to Lalvani, its all down to education and its up to us as an industry to invite regulators and government officials to our events so they can learn about all the wonderful ways BCH and its blockchain can improve daily life, globally.

One of the highlights from the evening was James Howells’ presentation on why BCH is the true Bitcoin and the story behind his loss of a hard drive containing 7,500 Bitcoins (!!!) from his mining days back in 2009. Since Howells has been involved from the very beginning, his perspective on the progression of Bitcoin (and other cryptocurrencies) over the past nine years is crystal clear.

“In terms of technology, we have gone backwards, not forwards,” Howells told CoinGeek.com.

“The Bitcoin Cash chain represents the version of Bitcoin that I used to use in the old days. In the end of 2017—everybody knows about the price increase—but at the same time, [BTC] fees were increasing rapidly. In the past week, the Bitcoin Cash network has experienced its own spike in price, the different being when Bitcoin Cash spikes in price, the fees don’t spike with it. That is the real Bitcoin that I used back in 2009 and is the real Bitcoin that many other early adopters have also backed and use,” Howells said.

In an effort to help move technology forward again and to “re-build” the ecosystem, Howells has Founded “MiniPOS”, a piece of hardware allowing merchants to accept BCH in-store.

“MiniPOS basically started as an open source project between myself and three developers on Slack. We came across this software and we now refined it into an actual product which can be purchased by merchants in order to accept BCH in-store for goods and services with checkout times in 10 seconds or less,” he explained.

“There are absolutely zero private keys held on this device so there’s no chance of losing any funds by using this device. The actual store owners can leave the store, they can leave the cashier in charge and be safe in the knowledge that the funds that they have received will not be stolen,” he added.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

Becky’s Affiliated: A beginner’s step-by-step guide on how to buy Bitcoin Cash

The purpose of this post is not to convince you to buy Bitcoin Cash (BCH), its to tell you how to buy BCH if you want it. What I will also tell you is my inside sources claim its still a good time to buy, aka the value will climb higher and keep climbing. With this privy information at my fingertips, I decided to part with £500 to get familiar with the somewhat complex process of obtaining and storing the currency…and hopefully gain some personal wealth while I’m at it.

To give you the background, I posted on Facebook after the BCH price surge about a week ago, asking if I should by BCH ASAP or wait a few days. I could not believe the number of public responses this post generated nor could I believe the number of people who immediately DMed me asking for advice on how they can buy BCH and fast, cursing themselves for failing to buy it earlier while the prices were much lower.

In order to answer everyone’s urgent DMs in one swoop, this post is designed to serve as my “beginners” step-by-step guide on to safely buy and store BCH. Seeing as BCH is in its infancy stage and it will be some time before we’re able to spend it freely, storing your BCH in a “cold wallet” (unless you plan on trading it) is also part of the equation.

I won’t lie, this is not the most straight-forward process on the planet…but trust me, if was able to do it, so can you!

Step 1: Open up an account with Kraken: 5 minutes

Kraken is a Bitcoin exchange on which you can buy, sell and trade BCH, BTC, ETH and more. Opening up an account with this trustworthy exchange is relatively painless, providing you’re able to choose a password that fulfills all their character requirements and you can quickly check your email for a confirmation message.

Step 2: Get verified for Tier 1 and Tier 2: 5 minutes

Once you have an approved and active account with Kraken, before you can deposit, you will be prompted to “get verified” due to KYC/AML requirements. Since I don’t plan on depositing/withdrawing huge sums of money, Tier 1 and Tier 2 verification was more than sufficient and the only personal info required was my name, DOB and address in the UK. Once entering this info, I was cleared to deposit up to $2000 USD (daily deposit limit) in minutes.

Step 2: Deposit EUR/fiat into the exchange: 2-5 days

I personally hold two banks accounts, one in the USA and one in the UK and for the purposes of this transaction, I decided to send EUR from my UK account. (My USA-based sources assure me Kraken is a trustworthy choice for USA account holders as well, although some of the steps below may vary slightly).

Once you’re Tier 2 or more verified (you’ll be notified by email when you are), on the upper left of the Kraken main page you’ll see a “trade” tab, just under the pull-down menu of available currencies for trade. On the right of the “trade” tab you’ll see a “funding” tab, click on this. Now be sure the “deposit” tab is highlighted and under that, the EUR tab is chosen.

There are two choices for depositing in EUR, one is by “SEPA” and the other is by “Wire Transfer”. I chose SEPA because there is no fee when using my UK-based bank (Barclays), essentially it works the same way as sending an international bank wire. The instructions provided by Kraken for how to deposit are clear and the only step I was unsure of was adding the “reference” as my bank does not accept spaces and “.” for this field, so I had to take spaces out and use “krakenDOTcom” instead. Thankfully it worked.

Step 3- “buy” BCH: minutes to hours, depending on what price you ask for

Kraken will inform you by email when your deposit has cleared and you’re all set up to buy/trade. I thought buying was going to be a quick and easy process- just enter the amount of BCH you want to buy and voila- its yours, but no. Its not that easy.

Be sure you’ve chosen BCH/EUR on the pull-down tab from the upper left of the Kraken main page, click the “trade” tab and then choose the “new order” tab below “trade” and next to “overview”. Be sure “buy” is highlighted in green.

Now take a look at the value of BCH in Euros at that particular moment- either check CoinGeek.com’s homepage ticker (be sure to convert from USD to EUR) or check the top of Kraken where it says, “last”, “high” and “low” and assume the value is something close to what is says under “last”. So lets say 1 x BCH is worth 1000 Euro at that moment and you want to spend 500 Euro to buy .5 BCH. Enter “0.5” where it says “amount” next to BCH and enter “1000” where it says “price” next to EUR. “Total Euro” should then read “500” and now you’re ready to hit “Buy BCH with EUR”, sit back and wait.

If nothing happens for a while, you can cancel your order, adjust the “price” a bit higher and send in a new order.

Step 4- Set up a “cold storage” wallet with Electron-Cash: 10 minutes

Once you’re the proud owner of BCH, unless you plan on trading it, you should move the currency into a “cold storage” wallet and I recommend “Electron-Cash”. You’ll need to download the wallet on your computer and the instructions for setting it up are straight forward.

Step 5- Move your BCH to Electron-Cash wallet: 5-10 minutes

Open up your wallet on your computer and go to the “receive” tab. You’ll see a “receiving address” – a series of numbers and letters – and under this you can enter a description & requested amount of BCH if you wish.

On the Kraken site, go back to the “funding” tab, click on the “withdraw” tab and choose BCH from the pull-down. Now you’ll need to click on “+Add Address”, go back to your wallet, click on the clipboard icon next to your receiving address, then paste the address in the required field on Kraken. Enter the amount of BCH you wish to withdraw on Kraken, confirm the withdrawal and wait for the prompt letting you know all has been a success.

Please beware the transaction does not appear instantaneously in your wallet even though Kraken will confirm the transaction has been made. Check your wallet in 5-10 minutes and your BCH will have arrived safely.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Becky’s Affiliated: A beginner’s step-by-step guide on how to buy Bitcoin Cash

The purpose of this post is not to convince you to buy Bitcoin Cash (BCH), its to tell you how to buy BCH if you want it. What I will also tell you is my inside sources claim its still a good time to buy, aka the value will climb higher and keep climbing. With this privy information at my fingertips, I decided to part with £500 to get familiar with the somewhat complex process of obtaining and storing the currency…and hopefully gain some personal wealth while I’m at it.

To give you the background, I posted on Facebook after the BCH price surge about a week ago, asking if I should by BCH ASAP or wait a few days. I could not believe the number of public responses this post generated nor could I believe the number of people who immediately DMed me asking for advice on how they can buy BCH and fast, cursing themselves for failing to buy it earlier while the prices were much lower.

In order to answer everyone’s urgent DMs in one swoop, this post is designed to serve as my “beginners” step-by-step guide on to safely buy and store BCH. Seeing as BCH is in its infancy stage and it will be some time before we’re able to spend it freely, storing your BCH in a “cold wallet” (unless you plan on trading it) is also part of the equation.

I won’t lie, this is not the most straight-forward process on the planet…but trust me, if was able to do it, so can you!

Step 1: Open up an account with Kraken: 5 minutes

Kraken is a Bitcoin exchange on which you can buy, sell and trade BCH, BTC, ETH and more. Opening up an account with this trustworthy exchange is relatively painless, providing you’re able to choose a password that fulfills all their character requirements and you can quickly check your email for a confirmation message.

Step 2: Get verified for Tier 1 and Tier 2: 5 minutes

Once you have an approved and active account with Kraken, before you can deposit, you will be prompted to “get verified” due to KYC/AML requirements. Since I don’t plan on depositing/withdrawing huge sums of money, Tier 1 and Tier 2 verification was more than sufficient and the only personal info required was my name, DOB and address in the UK. Once entering this info, I was cleared to deposit up to $2000 USD (daily deposit limit) in minutes.

Step 2: Deposit EUR/fiat into the exchange: 2-5 days

I personally hold two banks accounts, one in the USA and one in the UK and for the purposes of this transaction, I decided to send EUR from my UK account. (My USA-based sources assure me Kraken is a trustworthy choice for USA account holders as well, although some of the steps below may vary slightly).

Once you’re Tier 2 or more verified (you’ll be notified by email when you are), on the upper left of the Kraken main page you’ll see a “trade” tab, just under the pull-down menu of available currencies for trade. On the right of the “trade” tab you’ll see a “funding” tab, click on this. Now be sure the “deposit” tab is highlighted and under that, the EUR tab is chosen.

There are two choices for depositing in EUR, one is by “SEPA” and the other is by “Wire Transfer”. I chose SEPA because there is no fee when using my UK-based bank (Barclays), essentially it works the same way as sending an international bank wire. The instructions provided by Kraken for how to deposit are clear and the only step I was unsure of was adding the “reference” as my bank does not accept spaces and “.” for this field, so I had to take spaces out and use “krakenDOTcom” instead. Thankfully it worked.

Step 3- “buy” BCH: minutes to hours, depending on what price you ask for

Kraken will inform you by email when your deposit has cleared and you’re all set up to buy/trade. I thought buying was going to be a quick and easy process- just enter the amount of BCH you want to buy and voila- its yours, but no. Its not that easy.

Be sure you’ve chosen BCH/EUR on the pull-down tab from the upper left of the Kraken main page, click the “trade” tab and then choose the “new order” tab below “trade” and next to “overview”. Be sure “buy” is highlighted in green.

Now take a look at the value of BCH in Euros at that particular moment- either check CoinGeek.com’s homepage ticker (be sure to convert from USD to EUR) or check the top of Kraken where it says, “last”, “high” and “low” and assume the value is something close to what is says under “last”. So lets say 1 x BCH is worth 1000 Euro at that moment and you want to spend 500 Euro to buy .5 BCH. Enter “0.5” where it says “amount” next to BCH and enter “1000” where it says “price” next to EUR. “Total Euro” should then read “500” and now you’re ready to hit “Buy BCH with EUR”, sit back and wait.

If nothing happens for a while, you can cancel your order, adjust the “price” a bit higher and send in a new order.

Step 4- Set up a “cold storage” wallet with Electron-Cash: 10 minutes

Once you’re the proud owner of BCH, unless you plan on trading it, you should move the currency into a “cold storage” wallet and I recommend “Electron-Cash”. You’ll need to download the wallet on your computer and the instructions for setting it up are straight forward.

Step 5- Move your BCH to Electron-Cash wallet: 5-10 minutes

Open up your wallet on your computer and go to the “receive” tab. You’ll see a “receiving address” – a series of numbers and letters – and under this you can enter a description & requested amount of BCH if you wish.

On the Kraken site, go back to the “funding” tab, click on the “withdraw” tab and choose BCH from the pull-down. Now you’ll need to click on “+Add Address”, go back to your wallet, click on the clipboard icon next to your receiving address, then paste the address in the required field on Kraken. Enter the amount of BCH you wish to withdraw on Kraken, confirm the withdrawal and wait for the prompt letting you know all has been a success.

Please beware the transaction does not appear instantaneously in your wallet even though Kraken will confirm the transaction has been made. Check your wallet in 5-10 minutes and your BCH will have arrived safely.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Becky’s Affiliated: Calvin Ayre on the brilliance of Bitcoin, London’s role and an appeal for Antigua

After five years away Calvin Ayre has returned to the media scene and has chosen to conduct his first video interview dedicated to the subject of Bitcoin here in London with CalvinAyre.com.

When asked what in the world he’s been up to for half a decade, Ayre responded with, “I’ve had a wonderful holiday in Antigua [laughs].  All joking aside, I’ve been involved in the Bitcoin industry.  I did my first investment into a crypto-currency company in 2010 and since then I’ve done a number of other investments and I’ve got more coming down the pipe”.

Ayre, who now holds the official title of “Bitcoin Entrepreneur and Economic Envoy to the Government of Antigua”, is a huge supporter of Bitcoin Cash (BCH), the progeny of the Bitcoin blockchain hard fork on August 1, 2017.

“Myself and a lot of other people as well that I’m working with in the industry believe that massive on-chain scaling and the subsequent low transaction fees that we believe will come out of [BCH] is what’s going to drive the crypto-currency movement.  We think low transaction fees will increase the velocity of transactions and will increase the value and security of the one public Blockchain which I believe will be BCH”, Ayre revealed.

One of the challenges with BCH at present is the general public’s lack of understanding on why the currency is such a breakthrough for Bitcoin and even if people do understand, they don’t know how to get a hold of BCH.

“I would start by advising everybody that owned BTC before the fork to learn how to split their BCH out because a lot of people actually have it and don’t know it and if they don’t go to the exercise of actually splitting it and getting it, it could be lost forever”, shared Ayre.

Becky’s Affiliated: Calvin Ayre on the brilliance of Bitcoin, London’s role and an appeal for Antigua“People who aren’t in the economy at all, clearly they are have to do some research and find an exchange that services their country and go in there and learn how to do it and buy it, put it into a competent wallet and not only sit on it if you think that’s a solid investment, but also use it for transactions”, he said.

“Now that BCH is here and the transaction fees are going to be coming down, in fact they’ve come down substantially already, there’s going to be a lot of opportunities on the internet to actually use it as a value transfer”, he added.

While Ayre has clearly dedicated himself to the growth and success of Bitcoin Cash,  there is plenty of hype surrounding the hundreds of “Altcoins” in existence today such as Ether (the token used by Distributed server processing system Ethereum) and Litecoin.

“Altcoins is a phase.  It’s a phase we’re going through right now. There’s a chance that there will be a niche for some altcoins, but its very unlikely to me”, Ayre shared.

“Mostly I think most people are going to lose 100% of their money with Altcoins and really at the end of the day the one secure, public Blockchain that will remain standing when the dust settles in one or two years from now will be able to do everything. There’s nothing that any other Altcoin can do that Bitcoin can’t do”, he said.

“You just have to ask yourself, do you need two internets? Do you need two music protocols? Do you need two fax machine protocols? Well the answer is ‘no’.  You don’t need two secure, public Blockchains and BCH can do it all and it will”, he added.

With the freedom to travel wherever he pleases these days, one must wonder why Ayre chose London as the location to make his first media appearance in years.

“I was recently appointed as an Economic Envoy for the Government of Antigua, specifically focusing on trying to create an industry around Bitcoin and also to polish up the existing industry in online gaming.  There’s some things I can fix there, but the real opportunity for Antigua is to get into this burgeoning new cryptocurrency space.  The convergence of online gaming and Bitcoin is actually in London, it’s the global leader in both those spaces right now”, shared Ayre.

“So I’m actually in London to meet with the Antiguan High Commissioner and what I’m hoping is that we can find a way to get more connections between both of these industries back to Antigua, specifically with Bitcoin.  I think that there will be opportunities. The government of Antigua is very supportive of Bitcoin and in fact they are right now working on changing their laws to make it more hospitable for Bitcoin start-ups in certain areas”, he added.

Spending a lot more time in London and other locations around the globe is something Ayre is looking forward to over the coming years, but his heart will always hold a special place for the beautiful country of Antigua and Barbuda.  Ayre’s Foundation is dedicated to providing hurricane relief to Barbuda, something the tiny island is in desperate need of after getting hit by a category five hurricane a few weeks ago.

“Climate change is real.  The storms are getting bigger and Antigua does need help right now.  I will make an appeal right now that you can go the Antiguan Government’s website or you can go to my Foundation website and you can find out how to donate money to the Government of Antigua.  My Foundation does not accept money although we are allocating funds from my Foundation to this great cause”, shared Ayre.

***Donations can be sent to the Official Barbuda Relief & Rebuilding Fund via the official government website. 

For the first time, cryptocurrency is being used in a relief effort. Donations in Bitcoin and Bitcoin Cash are also accepted via the following addresses: 

Bitcoin Cash (BCH) – 1L89GJ3ecXh2PdZpDxPd5YwaLY1bYNcsNS 

Bitcoin (BTC) – 15fT2nvS8NUs9D9aLF12rVAKb37cUiuoar 

NB: BCH has lower transactions fees and, as a result, is the preferred Bitcoin to be used. There is no need to send receipts when you donate using either BCH or BTC as it can be seen in the blockchain. For cash donations, send [email protected] a copy of your receipt and the Calvin Ayre Foundation will add an equal amount to the money.