From the Front Page
Published on August 11th, 2014 by Buzzdron
The Bitcoin Economy: Global, Connected, and Cooperative
The Bitcoin economy represents many things, including a multitude of global, transformational triumphs. The best symbol of this combination – the example that sets the standard for Bitcoin, and is a reminder of the credibility of this alternative form of currency – starts with the virtual network of investors, mentors, executives, and entrepreneurs responsible for this international phenomenon.
Indeed, if you seek to contrast these benefits with the conventional world of venture capital and the subculture of Silicon Valley, if you want a clear alternative to the status quo and the financiers headquartered on San Hill Road – the multibillion-dollar backers of brands like Facebook and Twitter – my suggestion is simple: Redirect your attention from the bulldozed apricot orchards, long since converted into office complexes and parking lots off Interstate 280 in Northern California, and look at your laptop, smarphone, or tablet instead.
There, in this digital domain, you will find the rise of innovative trading platforms, virtual wallets (for the transmission and receipt of Bitcoin) and ways to send remittances to friends and family throughout the world – all of it underwritten by experts with an appreciation for the union between technology and convenience.
This model, which I have alluded to in previous articles, is one I champion not out of self-interest or monetary gain; it is one I support – and shall continue to do so – because it works. I refer, specifically, to Seedcoin (http://www.seedco.in), a virtual Bitcoin-incubator with a worldwide portfolio of investments.
Again, I champion this organization because, given its proven record of success (more about anon) and dynamic nature, it signifies an important milestone involving the popularity of Bitcoin and the power of modern technology.
Concerning the latter, and the ability to rapidly adapt to changing circumstances, it is this very characteristic – the freedom to call upon the wisdom of business experts and mentors – that transcends borders, nationalities, and the traditional politicking for influence and guidance.
According to Eddy Travia, cofounder and chief startup officer for Seedcoin:
"As a global incubator, Seedcoin unites entrepreneurs with established leaders, who provide their counsel and assistance for newly launched companies. Our emphasis on fast-growing, Bitcoin-centric businesses – enterprises with the agility to succeed, and the infrastructure to rapidly respond to demands from traders, merchants and consumers – is a sign of the revolutionary developments underway in this virtual landscape."
I second this comment because it redefines the way all companies should pursue financial support, business tutelage, and an international network of marketing and promotions.
So, in lieu of making a pilgrimage to the denizens of Sand Hill Road, and in comparison to the physical limitations of geography (where location, not the superiority of the best ideas, trumps a group's likelihood to raise money), the Seedcoin ideal should inspire all manner of entrepreneurs.
A strong illustration of this point involves BTC.sx, a platform for the trading of Bitcoin derivatives. (This company is a personal favorite of mine because of two reasons: Transparency and flexibility. The first governs all communications between BTC.sx and the public, while the second reveals the skill necessary to accommodate the swiftness of a global marketplace.)
It is this nimble approach to technology and commerce that defines the Bitcoin economy, where freedom – the liberty to hedge against fluctuations in the price of Bitcoin, and enjoy adjustable rates of leverage when trading Bitcoin derivatives – underscores the vitality of this new word.
In the words of George Samman, COO of BTC.sx:
"The legitimacy of Bitcoin rests with its international influence and wealth of business opportunities, in which innovation is often well ahead of corollaries from Wall Street or other run-of-the-mill economic features. As a global platform, with a strong presence in Asia, we can immediately respond to and make adjustments for any number of events."
I return to this theme about agility – I choose to repeat its importance – because it articulates the why and how of the Bitcoin economy, which crosses countries and unites cities at the speed of the electron.
It is not the prisoner of dollars, yen, yuan, pesos, or euros. Nor is it captive to the capriciousness of a market clouded by obscurity and overrun by manipulation.
In the Bitcoin economy, at least the one actualized by Seedcoin and BTC.sx, there is, indeed, a level playing field. With openness and choice, there is a venue to succeed.
That promise encapsulates the essence of this issue, for the good of all and the satisfaction of a global audience. For these individuals – diverse in their interests, steadfast in their expectations and laudatory in their comments – now is a time of great excitement.
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