Saturday, April 9, 2011

Bankers, Amsterdam and Bitcoin

Last week on April 6th, 2011, a group of bankers and payment professionals at the 10th Annual European Payments Consulting Association Conference sat patiently and listened to a presentation on the disruptive bitcoin from Mr. Amir Taaki (or Genjix). Taaki is also the founder of Britcoin, a new bitcoin to Pound Sterling exchange service. The full video is below, but a recent article in DYNDY mentioned the high points:
"Our guy Genjix is a colorful and open minded type, witty and messy, a good mix that entertained the people present despite it being the last presentation of the day; he did a good (unpaid) job presenting some quite impressive information on the growth and usage of Bitcoin, making people present progressively interested (or pissed, but then hard to notice behind the suits) at this crypto-cash system that seems to be there to stay or, one could argue, to multiply in different flavors in the near future."

"Being shown an anonymous digital currency with its own laundering service. Used for selling drugs. Bit-coin, you have cheered me up." --Michael Price

"Ultimately, the positive message that bitcoin also carries is that of more possibilities in engineering currencies, that of a future in which complementary currencies can make economic systems more resilient to the the disruption of capitalist behaviors, while closely relating people to their community values and maybe even revolutionize the way we contribute to the common good – paying taxes for what we really care, rather than not paying them, let me add."

AmirTaaki from itzard on Vimeo.


  1. One thing is for sure: being controversial and disruptive pays off. There were so many presentations at the EPCA conference, some good and practical solution as well -- and yet, we are all taking about BitCoin

  2. Bitcoin interests me, but as a "suit" I cringed watching the presentation - no logical progression, introducing concepts without explaining (eg mining). If I hadn't read up on it, it would have been hard going - an audience shouldn't have to work that hard.

    My fear is this follows the path of e-gold. Evangelical creator and enthusiastic early adopters, but no solid (or suit-ish) marketing strategy to get over the chicken and egg problem.

    However, it presents an interesting challenge to the gold standard advocates, who primarily trumpet gold's size limitations ("you can't print gold") as its key superiority over fiat. Well bitcoin is better in this regard plus it is just as, if not more, anonymous (certainly more so than GoldMoney).