Bitcoin Sydney: The ultimate Bitcoin business networking meetup


Bitcoin Sydney: The ultimate Bitcoin business networking meetup, by Greg Tingle

Bitcoiners unite: Novice to experts to Talk And Trade Bitcoin: Metropolitan Hotel, Sydney, Australia; Bitcoin ATM Launch Party

Food and drinks purchased via Bitcoin - This is getting very real

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Unless you have been living under a rock for a few years you have already likely heard of Bitcoin, and possibly one of its cousins - Blockchain.

For the purposes of time management primarily, I'm going to draw upon the considerable resources at Wikipedia to help get some information live across the Media Man website network in a timely fashion regarding the business of Bitcoin and the crypto currency sector, and specifically my recent visit to a Bitcoin meeting in Sydney, Australia, which was held at the well respected and beautifully finished Metropolitan Hotel.

Let's consult our unmet friend at Wikipedia - Jimmy Wales. Wikipedia.org states the following:

Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.

Bitcoins are created as a reward for mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. Thank you Wikipedia. If your interested, and you probably are, you can read their entire page here

Now Blockchain from Wiki...: A blockchain– originally block chain– is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. A blockchain can serve as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way." For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which needs a collusion of the network majority.

Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, or food traceability.

The first distributed blockchain was conceptualised by an anonymous person or group known as Satoshi Nakamoto, in 2008 and implemented the following year as a core component of his digital currency – bitcoin – where it serves as the public ledger for all transactions. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the use of a trusted authority or central server. The bitcoin design has been the inspiration for other applications. Full Wikipedia reference here.

And, as far as who invented this still somewhat controversial crypto currency known as Bitcoin...

Satoshi Nakamoto is the name used by the unknown person or persons who designed bitcoin and created lists original reference implementation. As part of the implementation, they also devised the first blockchain database. In the process they were the first to solve the double-spending problem for digital currency. They were active in the development of bitcoin up until December 2010.

Then there's the question of our fellow Australian Craig Wright, who shot to international news in 2016 regarding his alleged involvement in Bitcoin. He went on to prove that he was the creator or farther if you like, of the almighty Bitcoin. Read about him here

It was on the 2nd May 2016 that Wright publicly claimed to be the creator of Bitcoin. This of course made national and international news, and also inspired many a business entrepreneur and opportunist in the process.

The news didn't go unnoticed by the Media Man group, who has some hands-on experience with a computer system named TreePad, which has some similarities and striking parallels to Bitcoin's cousin - Blockchain.

Back to the present...

Bitcoin's market value is on the rise in just about every corner of the globe (expect China), where the Chinese government has effectively banned it. For all we know the Chinese powers that be may be developing their own crypto currency, as control is something the Chinese government are well known for.

Returning to Australian soil, meetings, meetups, and even somewhat secretive get togethers of Bitcoin and Blockchain business people, entrepreneurs and interested parties are on the rise.

At the event we attended a documentary was being produced on Bitcoin, and the producer and crew are understood to be linked to UTS. If Bitcoin is part of the present and future of Australian universities my opinion of Australia's education system has just gone up 100 times. Ok, let's not get too carried away. Things are however looking up at Australian universities. Will TAFE NSW follow suit? - I seriously doubt it, but I would loved to be proven wrong.

Our evening with Bitcoin also included the opportunities to purchase food and drinks with Bitcoin, as well as the unveiling of a Bitcoin ATM known as BitPOS. The terminal is understood to be valued in the region of $10,000AUD and is located on the ground floor of the establishment.

The Metropolitan Hotel is not the only hotel in Sydney that accepts Bitcoin. This off the Bitcoin Sydney MeetUp website:

Other BTC Friendly Bars:

Since I Left You – 338 Kent St. Sydney City
http://www.sinceileftyou.com.au
The Owl House - 97 Crown St. Darlinghurst
http://theowlhouse.com.au

Bitcoin ATMs:
BitPOS
Metropolitan Hotel - Cnr George & Bridge Sts - 12pm to 12am Mon-Sat
BitRocket
City Convenience - Cnr George & Bridge Sts Sydney - 24/7
City Convenience - Cnr Kent & Liverpool Sts Haymarket - 24/7
Lucky 7 Minimart - 22 Crystal Street Waterloo - 6am to 12am.

Bitcoin Talk APAC Group Chat Link:
https://t.me/joinchat/AbBFPgAXsqlodnUn6Wp71g

 

So, what's our verdict on this Bitcoin phenomenon? Thumbs up. As is the case with any business or project, develop and learn the business before diving in too deep is our advise. We are on a steep learning curve ourselves at present.

By all accounts the Sydney Bitcoin folks are very switched on, helpful and friendly. The public meetings are conducted in a very relaxed atmosphere, and rest assured that Bitcoin and Blockchain are here to stay. They are riding a wave of momentum at present and the media's love affair with the Bitcoin - Blockchain connection is far from over.

Australia's and indeed the world's willingness to accept Bitcoin as a totally above board form of currency - payment is on the rise with hotels, gaming establishments, restaurants and more keen for your Bitcoin.

If your one of the fortunate ones who get along to a Bitcoin or Blockchain meetup, aim to chat with both Jason and Adriana. They are a wealth of knowledge and most welcoming. Learning and biz opportunities over a beer, discussing one of the world's most exciting commerce and technology developments. Not a bad deal hey.

Bitcoin is very real, and there's a plethora of business opportunities awaiting for those willing to put in the work and learn. Friends, that's today's lesson in Bitcoin and Blockchain. See you at the Bitcoin ATM, if not the bar. Cheers to that.

Websites

Bitcoin.org

BitStaz.com

Metropolitan Hotel, Sydney, Australia

Bitcoin Sydney MeetUp

Blockchain Professionals Sydney MeetUp

Greg Tingle Promotions

Bitcoin is going great guns in most parts of the world (but not in China).

Testimonial for Bitcoin Sydney - Talk and Trade Bitcoin

Hi Jason, Adriana and crew. A most impressive event with a very high level of knowledge and integrity. Brilliant masterstroke with the option to purchase food and drinks with Bitcoin, and it was great to see the Bitcoin ATM work in person. I find the connection between Bitcoin and Blockchain very interesting, and as mentioned I have 10 months hands on experience with TreePad (some similarities to Blockchain) re an Outback Australia (Alice Springs based) transport and mining operation. Many thanks to everyone who made me feel so welcome. I will be watching this space closely, and ramping up my activity as I continue to learn the business. From novice to expert, I highly recommend the good folks at Bitcoin Sydney. The media and advertising sector will do well to get more up to speed with the Bitcoin and Blockchain industry. Consider this a glowing testimonial.

Greg Tingle, Director and founder
Media Man Australia
Media Man Int
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Greg Tingle at the bar

Metropolitan Hotel, Sydney, Australia