Digital currencies have properties that can add value when used instead-of or in-addition-to traditional currencies.
This week there are teams of entrepreneurs headed to the annual SXSW conference and are hatching ideas and building software while enroute.
Each of the six Startup Buses hold 25 entrepreneurs in which teams form. Over several days the teams create startups to be pitched to investors upon arrival in Austin.
It appears that none of these startup teams have considered leveraging a digital currency as a competitive advantage for their strategy.
There are multiple startup teams onboard whose ideas would benefit by incorporating Bitcoin currency:
The Startup Bus organization itself does grasp the concept. They’ve offered a virtual stock exchange (note - includes our referral link) enabling participants to invest virtual currency dollars into the different startup companies. The virtual currency has no value outside the exchange however. Maybe for next year’s event their virtual stock exchange will instead be offered with a digital currency where real money is invested.
Wouldn’t a better approach be where, that by the time Austin’s city limits are reached, the winner is already funded?
More info about The Startup Bus:
Ryan make his case for why now is the best time to get started on a Bitcoin startup or to incorporate Bitcoin into your existing business:
"By next year, all the easiest, obvious businesses will be taken".
The list of merchants accepting bitcoin has been growing yet it just scratches the surface of the potential opportunities that a digital currency creates.
A few ideas for businesses that could be built can be found, ironically, in a thread on one of the first Bitcoin startups, witcoin.
Camp BX will let its users short-sell Bitcoins, which will help stabilize the volatility for the young currency. Today, an 8 percent swing in the value of the Bitcoin throughout the day is pretty typical.
The number of Bitcoins available to users is algorithmically limited — meaning the number of new Bitcoins introduced into the economy decreases over time [and even] smaller moves in the market are able to cause greater swings in the value of the Bitcoin.
Video: Bitcoin ATM 2
Todd Bethell gives an inside look into the much anticipated global Bitcoin ATM Machine.
In the video, Todd says:
We’re looking at about 150 to 200 ATMs within six months. That will be globally, not just in North America.
“There isn’t really anywhere that’s the ‘Place for Bitcoin,’ and that’s what we hope to be,” Vessenes said this week.
CoinLab already has its first project, dubbed Bitsent, for sending Bitcoin via text message. Their sites promises “a lot more in the works.”
“We sold 15 percent of our company to Roger Ver, CEO of MemoryDealers” co-founder Charlie Shrem told Betabeat.
BitInstant has processed more than half a million dollars in transactions since launching in the beginning of September. Bitcoin transactions were taking days to weeks to process on the exchanges. BitInstant verifies a deposit and then fronts the credit to both parties so users can deposit money into their accounts immediately.
[Soon] BitInstant will offer cash deposits at five major banks, instant PayPal withdrawals and will start serving Virwox.com and CryptoXchange.com.
I am excited about Bitcoin. It’s exciting to watch a global digital currency get traction.
The primary advantages of Bitcoin are:
- Speed and price. You can transfer money anywhere in the…
[Original: http://adamdraper.com/post/44563343164 ]