Inside Bitcoins New York Day 2: Afternoon and Evening
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Article by Sergio Schout
Here is Bitcoinist’s and Inside Bitcoins coverage of the afternoon and evening sessions of the Inside Bitcoins day 2 coverage!
DigitalFX: A New Asset Class for Investors
After the lunch break, Brian Kelly, contributor for CNBC’s Fast Money, Founder and Managing Member of Brian Kelly Capital LLC, and author of The Bitcoin Big Bang, took take the stage to talk about investing in Bitcoin and start-ups in the Bitcoin world. According to Kelly, Bitcoin is a payment system, a method for transferring value and information, and a tool for clearing and settlement.
However, Kelley also believes that Bitcoin’s potentials extend far beyond its use as a currency. At its core, Bitcoin depends on the blockchain technology, which is capable of of much more than facilitating monetary transactions. The blockchain can enable businesses and organizations eliminate middle men, potentially allowing them to streamline business and make commerce more efficient.
According to Kelley, Bitcoin’s birth happened in the right time and place. When Bitcoin was created, the world faced Economic upheaval, mistrust in the banking system, and demand from the Millennial generation for a different way of banking. Bitcoin, in the midst of these societal changes, offered the establishment of an entirely new financial sector. Additionally, the advent of Bitcoin offered a new asset class, an innovation resembling the rise of foreign currency trading in the 1970s.
Industrial Mining: Powered Warehouse Shell vs. Hosted Cloud Offerings The next session was a panel that looked at industrial Bitcoin mining. The panel consisted of:
Guy Corem CEO and Co-Founder, Spondoolies-Tech Juan Garavaglia CEO, 112 BIT LLC Francois Poupard Chief Editor, BitcoinVOX Marco Streng CEO and Co-Founder, Genesis Mining Jihan Wu Co-Founder, BitMain David A. Johnston Co-Founder, BitAngels and Managing Director, Decentralized Application Fund (Moderator)
This post was published at Inside Bitcoins on Apr 29, 2015.