Bitcoin for Consumers Today | Paul Hickey | TEDxCincinnati

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Bitcoin – finally, a non-technical description of what Bitcoin is and several surprising illustrations on how consumers can use Bitcoin today and in the future. Paul demonstrated to the TEDxCincinnati Audience the simplicity of Bitcoin. @hickeycapital Facebook: Paul Hickey

After 10 years as the founding partner at HF Capital, an investment bank that raises money for fast growth companies, Paul Hickey took a sabbatical to become the Co-Founder/CEO of Greenbit.co, a Bitcoin technology company. Prior to HF Cap he was the CEO of Shera Technologies a Shanghai based banking technology co and the Founder/CEO of Q Comm, a transaction technology company he took public on the AMEX. Mr. Hickey is an active impact investor in companies that make a positive social impact on the planet. Oh yea, he also just bought an island off the tip of Borneo (Maliangin Island) which he plans to develop as the worlds greenest and first 100% renewable energy island (mycoralvillas.com).

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx

7 COMMENTS

  1. I get the convenience of it. I understand the quickness, and cutting off the middle men. But what I dont get is, how the value of it can change and how people are able to 'trade' the currency. So 1BTC is worth $270. And that changes…..?

  2. Bitcoin is backed by mathematics, open source code, cryptography and the most powerful and secure decentralized distributed computational network on the planet, orders of magnitude more powerful than google and government combined. There is a limit of 21 million bitcoins (divisible in smaller units). Dollars are not backed by gold anymore since long time ago, they are printed by the trillions out of nothing by the private institution called "Federal" Reserve.

    Receive and transfer money, from cents (micropayments) to thousands:

    Almost for free (a few cents fee).

    Privacy (no need to expose personal information)

    Securely (encrypted cryptographically)

    Instantly (from seconds to a few minutes)

    Open source (auditable by anybody)

    Worldwide (from anywhere to anywhere on the planet).

    Peer-to-peer (no intermediaries with a cut)

    Public ledger (transparent, seen by everybody)

    Decentralized (distributed with no single point of failure)

    No chargebacks-No fraud ('push' vs' 'pull' transactions).

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