For businesses that are interested in knowing more about Bitcoin, an increasingly popular if not controversial “crypto-currency”, there will be an information session this Thursday at Lost and Found Cafe (33 West Hastings) at 6:00 PM. Here is a link to Bitcoin’s website and a few links to recent stories on Bitcoin and other digital currencies that we are seeing more commonly used. Vancouver is host to the world’s first Bitcoin ATM and we’ve now seen Bitcoin point of sale systems here in our area.
Here are some cautionary stories on the currency.
There is a lot to be excited or intrigued by with something like Bitcoin, but there are also some very real concerns or questions and even some moral or ethical considerations given its use in TOR activities (The Onion Router – or “Dark Internet”. It’s not like U.S. dollars were ever used to buy something unethical or illegal, but I digress…)
In any event it’s always good to be informed, and this is a chance to ask questions from the local Bitcoin Cooperative who have been championing the currency’s use here in Vancouver. Lost and Found is one of those handful of businesses who have a Bitcoin POS in use. If anything it’s a fascinating topic.
HxBIA has been looking at local currencies or community currencies off and on for the past two years, with a genuine but tempered interest. I’ve had a few meetings with folks at SeedStock and now some businesses in the BIA catchment area accept this community currency too, but Bitcoin is another animal altogether. It may be that it ends up a flash in the pan (maybe the early 21st Century equivalent of the Dutch Tulip Mania) but it may also signal that we are entering into some new territory currency-wise, with mainstream economists cautioning the volatility and fragility of current monetary or banking system(s) and the increasing popularity of local currencies in some EU countries and even the U.S.
Looking forward to seeing you there.
Hastings Crossing BIA