Bitcoin is not the best payment method it’s probably the worst payment method but Bitcoin is maybe the worst payment method method but it’s available always and everywhere. You don’t have to ask anyone’s permission you can start hacking away that’s a very nice feature Bitcoin represents something bigger than just speculation for making money you learn by doing and I’ve done a lot of bad investment so now I know nowadays to be more careful. It’s hard to explain to people who don’t know what Blockchain is I mean a lot of people don’t even know what Bitcoin is. This is going to change everything this is a total complete game changer I’m Martin Zachrison i am the CEO for Strawpay we had a lunch meeting every every week for like a couple of years discussing Bitcoin what happened we went to some conferences looked at different ideas to try to figure out something to to do this we do while we’re having our our old regular jobs. I’m Christian and I’m actually a quantum physicist a scientist from beginning when I found out about Bitcoin was actually an accident or I mean it was like a coincidence. I was amazed that there’s a financial system that’s not owned by any bank or government so I quit my job start doing something other than a what my name is Linus Dunkers I have been working with Bitcoin in different ways for about two years now first time I invested personally in in Bitcoin was actually after the crash, so after the Mont Gox system crashed or they were robbed of a lot of their bitcoins and there was actually another site that what was established where you could buy and sell bitcoins or exchange bitcoins from within Mount Gox and on the outside world so there was like a ratio between the Mount Gox coins and the real coins so to speak from there on I I started investing in bitcoins and sometimes speculating in other alt coins about one year ago I I quit my job and since that time I have been working full-time only with Bitcoin related technologies for mining and trading and so so forth I’m Frank Schuilso I am the co-founder and CEO of a Safello, a Bitcoin company based out of Sweden! It was April 2013 when the price level into 266 of course it wasn’t a bubble it was just growth for Bitcoin, and then the price went down and and I obviously noticed that I missed something so that’s when i bought my first bitcoins and from that quickly other cryptocurrencies. You know in Sweden it’s even interesting because we unlike most European countries we actually can get registered with the financial inspection so on that basis there is not really an argument for any financial institution to refuse our business especially with the level of compliance that we’re doing on our back end which more expensive likely than some of the banks that we’ve been talking to. My name is Suzanne Tarkowski Tempelhof I’m the founder and CEO of BitNation I started BitNation in July 2014 that was after I had been thinking about it and writing about it for about a decade before that I was a military contractor actually so i spent a lot of time in various war zones and a lot of the work I did was accessing government and basically doing you know measuring people’s perception on governance etc so I assisted in the process of government being built and government being over thrown you know when I started it’s funny when I started a lot of people told me like oh well aren’t you afraid of government you know are they gonna react to it actually I mean currently most people i know that work for the government have come forward telling me like that that’s actually a brilliant idea how can we incorporate it? My name is Sergej Kotliar i am the founder and CEO of Bitrefill in the beginning it was just like I want to do a little Bitcoin project to see what it’s like and it always you get a much clearer perspective from actually being in there we looked at a bunch of things and Giftcards and things like that and eventually it just happend that we have we have some connections in the mobile industry this far it’s been most targeting the the existing Bitcoin users, now we’re thinking just Bitcoin users is not real enough and we’re thinking of ways of expanding this to reach a broader audience than just the Bitcoin believers. It’s always hard to to find money to fund your company most venture capital stuff and business angels they don’t know what bitcoin is and If they know it’s just used for drugs and crime it was basically no problems at all at that time you know I had bank accounts and did my business I think my my first actual problem was my first fraud I would say I’ve been fairly unlucky in my my investments I’ve invested maybe in the ten different companies that all turned out to be either scams they went bankrupt or or simply the coin is not worth anything more. The banking relationships are really hard to obtain so we were lucky with Handelsbanken has been banking us since 2013 but expanding beyond Hnadelsbanken has been proven to be very difficult. It’s a start up you know if it was straight forward it wouldn’t be fun right? Deep down we still don’t really know what bitcoin is going to be used for and for what, in the Western world Bitcoin is in a lot of ways a nice to have. Someone illegally transferred money from a bank account to my bank account and from that day things changed. I thought I would take it to the next level making a company I registered my my company BTC Sweden and I filled for the right to to buy and sell Bitcoin as a company from Finance Inspection, so I got the permission; at least I’m registered to do so but then there was the problem of Swedish banks We were part of the Tech Stars accelerator Barclays accelerator in the UK so we’ve had the discussions with the highest level within the banking community so we understand what their reservations are and unfortunately for most other countries in Europe but yeah again even in Sweden where we are registered with Finacial Inspection, it seems to be based on the fact there’s no clear guidance from the regulator’s and they keep it unregulated which is preventing those banks to make that step. The only one giving me problems actually are people who used to work on my team like some people try to sabotage BitNation they attacked the server they closed down social media channels they slandered me In the media and BitNation as well The number one question of Bitcoin that people need to ask themselves when someone says Bitcoin is a great tool buy things online it makes it cheaper faster better to buy things online, you go that great, so how do I get some Bitcoin? Well you buy it online, right and how do you do that? Well you use existing infrastructure which is why it’s ironic a lot of Bitcoin companies main problem is that banks are not going to be are not very cooperative. I started to learn how banks are working, and in the beginning it was quite ok then became more and more the banks became more and more hostile. When they realised what actually Bitcoin was, in the beginning I just said No! it’s like a TV game currency you can buy gems in a game, they were like that sounds like fun and not dangerous but then they realised oh! this is a global financial monetary transmission system. What what does that mean for us? Then they start making more resistance. As many of us entrepreneurs or early adopters in Bitcoin have realised is that the banks is not. They are very hostile against everything that has to do with Bitcoin somewhere there my ideas of running it as a company instead of doing private trading it stopped because there was no possibility of doing that. If you’re talking to the large banks on the highest level it’s definitely a risk that they see in getting fined disproportionately for banking Bitcoin businesses or cryptocurrency businesses so and and it goes down all the way to from the pseudo anonymity of the cryptocurrency to – you know what about the mining fee that you’re paying miners that are in China and what about that and it’s really hard to to have those arguments because okay now that’s that’s the way it is this is how the currency works it is digital form of cash. Then it took a year before the actual government started exploring Bitcoin and they started to pose legal requirements on one of my companies and basically from that day that’s what we become more and more of the business unfortunately I mean I started Bitcoin as a revolution like yay finally a finance system that we own and not the government or banks this is our finance system but the last year I mean only working with complying with banks with governments complying with the legal structure which is a lot of work and it’s really cost some so from starting from nothing starting from nothing that’s impossible to do today at least if you work with exchange business with Bitcoin it’s as troublesome as start any other financial company so the benefit of using Bitcoin as an exchange is gone today but you can still have it as a user A lot of use cases that has not been possible before because there was nothing now there is something that’s what I think the strength is of Bitcoin that it’s a it’s a fall back for when all other options have been exhausted and when it comes to business models for start ups we’ve seen that the the consumer payments thing is sort of been tried and didn’t really pan out in the way that the people thought with you know with merchants adoption consumer adoption. Currently the blockchain can handle like seven transactions a second that’s about it. You can start changing the block size and stuff but it’s you won’t you might get higher, well you will get get higher, but you need to get everything you need to get lots of people to cooperate I think the blockchain start ups right now we are ahead of our time what I do have and that I appreciate very much is all the contacts I have received from trading and mining through Skype and email and the local bitcoins and so on. Stay connected with the community, the community is really strong so get support of the community and be open We are creating history but which is fantastic exciting and so forth but it’s also challenging because it’s hard to explain to people who don’t know what the blockchain is, I mean a lot of people don’t even know what Bitcoin is, so taking it a step further can be challenging. Many of them I I work very closely with nowadays and they are doing very interesting projects both within mining pools and and exchanges and so on I’m noticed after because the Bitcoin community is not greedy, it’s very helpful and if they see something that is greedy that might be not so welcome. There was certainly a first wave and the second wave was the remittance wave which we’re now seeing is not panning out and the question is what are the next next waves going to be? We will of course get the number of transactions the Blockchain can handle will increase but not fast enough. A lot of these technologists have not been really tested in practice yet so there’s going to be a lot of trial and error for a long time to come. We are like a team on Skype that are communicating often about what we can do and how we can do new services offer new services. And thats just the perspective that Bitcoin actually came from the financial crisis of 2008 when greed was huge at least in the American bank financial system. It goes back to this that it’s not it’s not practical to have to have a record of all small transactions in the blockchain. We are going to suffer a lot from people saying well this doesn’t work perfectly or there is a kink in this or a problem with that, which there is in any emerging technology so we just have to expect that the next ten years will be challenging. So it has a history of generosity so stay open and generous then you will succeed. Until that is in place some of these ideas I can’t go much deeper into it but with more than saying that I think half a year from now my goal is to have a lot more activities running a lot more than just mining but we will see we will see.