By Evan Ceretti
Feb. 8, 2016
Andrew Clark first got involved in bitcoin through a business partner.
Since then, the 27-year-old Charlottetown man has used the digital-currency to make tax-free transactions all over the world.
“I have made several transactions in bitcoin and have been paid for graphic design work in bitcoin.”
Clark is one of 11 people listed as planning to attend the first ever bitcoin meet-up in Charlottetown.
It’s to take place at Press Start Gaming in Charlottetown on Feb. 13. The meeting will act as a crash course on bitcoin.
Clark is attending the event because he’s interested in seeing what can be accomplished with making bitcoin a way of payment.
Vaughn Murphy of Charlottetown will host the event.
“Basically it’s an information session for people who are interested in digital currencies and the current state of bitcoin and its future. “
Bitcoin consists of technology and currency. It’s decentralized, operating independently of any banking institution. The non-physical, digital currency is used to buy and sell anything via the Internet, said Murphy.
“Bitcoin is what you could consider a disruptive technology. Its approach completely differs from the systems we have in place now.”
The seminar will cover various ways bitcoin can be used, said Murphy.
“It’s versatile, different things at the same time. [Its] current form is currency, only one potential of its usability.”
Jason Merritt is a bitcoin enthusiast from Fredericton. He held a bitcoin meeting there in December to gauge interest.
“My intention was to stir up lots of interest and discussion.”
Based on the feedback, he created a bitcoin club, The Satoshi Society, named after the inventor of bitcoin. He wants to trigger what he considers to be a very important philosophical discussion.
“A new way to run the world economy.”
The currency would be beneficial to many people, especially in developing areas of the world, said Murphy.
People using bitcoin can send currency around the world in seconds. That would traditionally have taken days. It can disrupt the remittance industry and eliminate huge fees of sending monetary transactions, said Murphy
“This is a real change. “
Bitcoin is accepted by many large companies such as Subway, WordPress, Expedia, Dell and Tiger Direct.
As for PE.I., Murphy didn’t know if any businesses were dealing in it.
“I’ve heard of cab drivers accepting it.”
While it’s great for businesses to accept bitcoin, Merritt doesn’t think it’s important.
“Using it is not going to determine success or failure.”
The current economy is founded on the American dollar, which is founded on unpayable debt. Society will never enjoy economic stability this way, said Merritt.
“Bitcoin sets out to correct that fatal flaw.”
Merritt sees growth for bitcoin in the Maritimes.
“The bitcoin network is going to build an economy beyond our wildest imaginations.”
The Charlottetown meeting will accept donations in order to pay for the space. Light snacks will be provided.