With the recent news of the Chamber of Digital Commerce urging the Bitcoin industry to submit comments on New York’s proposed BitLicense regulations, they are holding a press conference today at Coin Congress here in San Francisco. That being said, we’ll be live blogging the entire press conference from start to finish along with some photos as well. Also, check PocketFullOfApps on Twitter for all the up to date news.
Attendees are now entering the room, conference to begin shortly.
This is the second Coin Congress in the USA, press conference is now under way.
Speaker is taking the stage, “there are very serious issues… with the proposed regulations”.
Chamber of Digital Commerce does agree that there needs to be guardrails in place, however, not to this effect.
Chamber of Digital Commerce is led by Perianne Boring, she is also the President.
The Digital Commerce was formed for a variety of people, not just one particular group.
The Digital Commerce hopes to grow the Bitcoin market cap to $1 Trillion dollars. Is that likely anytime soon? We’ll see.
The Digital Commerce is now recruiting for different board positions as well.
They will lend financial support to other Bitcoin groups who share their interest and liking.
Be sure to check out the full press release here: http://pocketfullofapps.com/2014/07/23/coin-congress-chamber-of-digital-commerce.html
ZipZap is now taking stage, will provide the state of Bitcoin.
– $8B+ market cap
– 33k Developers
– 60k+ merchants
– $240M VC Investments
– Estimated 500k people using Bitcoin
Alt coins are still considered very small in relation to Bitcoin.
Check out the ZipZap press release here: http://pocketfullofapps.com/2014/07/23/coin-congress-zipzap-expands-in-europe.html
Entire industries are innovating:
– Financial services
– and more
Fun Fact: Coinbase, one of the biggest Bitcoin exchanges, is located here in San Francisco.
Timing (what’s the rush?)
Definition (Bitcoin only)
Scope (exchanges only, NY residents)
Size (tier licensing)
Investment (possible with your own funds)
KYC (Know Your Customer)
“KYC will kill Bitcoin”
In closing, ZipZap thinks Bitcoin is here to stay, that we should embrace it, and be an active participant.
Audience question: can you explain the finite nature of Bitcoin mining?
Currently there are over 13 million Bitcoin, however, some are not in circulation due to being lost. The hard cap is set at 21 million Bitcoins and will be reached sometime in early 2100.
Chamber of Digital Commerce and ZipZap is wrapping up shortly. Closing questions from audience.
Steve from GoCoin is now taking the stage.
GoCoin recently made partnerships with Pepsi, could possibly see Pepsi vending machines with a Bitcoin payment option.
You can find the GoCoin website here: https://www.gocoin.com/
So far Bitcoin has moved past illicit activities, or at least steered away from that area.
“The only fear a merchant should have is FOMO — Fear of Missing out”
DELL computers is now accepting Bitcoin for online payments.
One observation is that Bitcoin payment fraud is very low (charge backs, etc).
“Accepting Bitcoin as a payment can increase your accessible market by 4x.”
GoCoin supports Litecoin, Dogecoin, and Bitcoin.
Merchants can pass on their Bitcoin savings onto the customer because there’s no credit card fees.
If you are using shopping cart software for online purchases, accepting Bitcoin can be as simple as adding a plugin and activating it.
GoCoin presentation wrapping up shortly.
Average Dogecoin check out value is $48 USD.
According to Bitwatcher, one Bitcoin is currently $623 USD. http://bitwatcher.me/
If New York was smart, they would follow Texas’ approach on Bitcoin.
We are thinking of live streaming an audio feed of future Coin Congress presentations. If that interests you, let us know on Twitter!
Thanks for tuning in to our live blog, stay tuned for more information.