For this months exciting presentations, Join us at Southern Hospitality Downtown, at 6pm monday 9/8/14 http://www.meetup.com/Colorado-Bitcoin-Society/events/200437932/ Presentation's this month are about projects building bitcoin/blockchain acceptance and the international network. Everything from the Dominica Bitcoin Drop, to for profit company's such as Rebit.ph. Other Projects include New Bitcoin: Buenos Aires Documentary! Meetup structure this week. 6-6:30 arrival and drinks 6:30-6:45 short presentation 6:45-7 questions and opinions 7-8 open conversation Recommended Parking at http://www.guarantyparking.com/ Discounted validation cards for this garage in the restaurant for paying guests. Bitcoins accepted for all purchases of food and beverage along with tips.(Not converted into dollars instantly) Want to support our meetup with digital currency? Donate bitcoin at this wallet address: 14AfwVtdr4AjARc2UgjFsYkJHYCtiFbUCE Have another currency you want to donate? Just email us and we will be happy to open a wallet.
Dominica is set to be the first nation to adopt Bitcoin following a successful collaboration between island officials, Coinapult, Aspen Assurance, Bitcoin Beauties and the College Cryptocurrency Network, who have partnered to deliver the project, officially titled The Bit Drop. The Bit Drop project will send Bitcoin to every resident on Dominica, a Caribbean commonwealth island, via SMS texting. With a population of over 70,000, this project will create the world’s largest and highest density Bitcoin community. The Bit Drop is scheduled to take place on 14th March 2015 at 09:26 to coincide with Pi day. To mark this unprecedented event The Bit Drop will be throwing an island-wide party with celebrities, musicians and supporters of Bitcoin, fire dancers, sponsored tropical island spirits, free giveaways, and bitcoin education booths during the event. This project is important because it will be the first time a government has embraced the potential of Bitcoin for the population of a whole nation.
Economically Dominica heavily relies on offshore banking and banana export. In an attempt to diversify the local economy Dominican government actively supports coffee and citruses producers. Another growing sector on the island is an ecological tourism. On top of that, the citizenship-for-money program is enacted in Dominica. Dominican developed finance industry and its growing tourism sector present some limited market opportunities for local tech entrepreneurs. Island's tiny population of low-income consumers, stagnating economy, high legal and administrative barriers to SME, shortage of qualified personnel and geographical isolation have significantly undermined the growth potential of the Dominican startups ecosystem. Although the plan (named "Bit Drop") to distribute Bitcoins to all Dominican inhabitants and to convert Dominica into the first Bitcoin nation on the planet was discontinued in 2014, this small island state still remains friendly to digital cash. At the same time, the Eastern Caribbean Central Bank (ECCB), which is the monetary authority for a group of eight island economies including Commonwealth of Dominica, does not recognize Internet currencies as the legal tender. Still, buying and selling cryptocurrencies as well as organizing ICOs are legal in Dominica. In a future, the official position of ECCB on cryptocurrencies is likely to be influenced by USA financial regulators. Business Notes for Startups Founders: political climate: indifferent; economic climate: not friendly; regions to focus: Caribbean; industries to focus: FinTech (digital currencies), e-services (tourism); major limitations: tiny population of around 70,000 inhabitants, small, stagnating economy (GDP is under $1 billion, its yearly growth rate is under 1%), high legal and administrative barriers, shortage of qualified personnel, geographical isolation; stimulus: fixed Internet penetration rate is around 70%, low mid-income consumers (per-capita less than $7000), low competition; opportunities: to create an e-business aimed at the growing number of mobile Internet users in FinTech and tourism sectors; Cryptocurrencies and ICOs (outlook): legal (moderately positive).
Dominica: The First Country To Accept Bitcoin As Legal Currency!
:http://panampost.com/belen-marty/2014/08/28/dominica-will-become-first-country-in-the-world-to-adopt-bitcoin/ "The launch date chosen by organizers, March 15, 2015, at 9:26 a.m., coincides with Pi Day, a global celebration of the mathematical constant. “Pi is an objective, mathematical truth, not a human creation. Everyone can understand, use, and be empowered by Pi. Bitcoin applies the same objectivity and openness to financial transactions,” says Miller, referring to the underlying mathematical principles of bitcoin that he believes allows the currency to provide security and transparency. “Also, Pi Day is conveniently right after Carnival, one of the most glorious of all imperfect, human creations,” he added. The day of the “Bit Drop,” organizers will celebrate the currency launch with a nationwide party with various musicians and celebrities in attendance. They plan to hold raffles and host informational booths with introductory and educational material related to the cryptocurrency. Another project partner, the Cryptocurrency College Network (CCN) of the Massachusetts Institute of Technology (MIT), will be in charge of distributing educational material throughout the island and explaining bitcoin’s various uses and advantages. They will also work to educate local Dominican retailers on the benefits of accepting bitcoin as payment." Great Job Dominica! The reason I am so excited and why I'm posting this is because my father is from this country, and now i feel like we should definitely try and introduce my family members to look into Quark as well! If they are accepting of bitcoin and they like Quark, maybe we can convince the whole island to adopt Quark? it is a long shot for sure, but who knows right?
The Original News Story for the Bit Drop and all relevant updates
Link: http://banksworstfear.com/entire-population-caribbean-country-dominica-receiving-free-bitcoins-early-2015-let-bit-drop/ UPDATE 2014-08-29: The CEO of Coinapult has spoken to Dominica News Online revealing that at least $10 USD worth of bitcoin will be given to each island resident. UPDATE 2014-08-29: Coin Telegraph has conducted an interview with The Bit Drop’s project manager revealing more juicy details on the event! UPDATE 2014-08-28: CoinDesk has released an article with more details on the event including: The high mobile phone penetration on the island, the plan to install Bitcoin ATM’s, and a hub at their university for a bitcoin club as well as the great opportunity for bitcoin’s use in remittances there.
All 70,000 residents living on the Caribbean nation of Dominica will be eligible to receive bitcoin as part of ‘The Bit Drop’ project, an upcoming collaboration between bitcoin businesses, interest groups and local government officials. Taken from Dominica “The Bit Drop” PR: Dominica is set to be the first nation to adopt Bitcoin following a successful collaboration between island officials, Coinapult, Aspen Assurance, Bitcoin Beauties and the College Cryptocurrency Network, who have partnered to deliver the project, officially titled The Bit Drop.. The Bit Drop project will send Bitcoin to every resident on Dominica, a ... The bitcoin event scheduled for March 14th on the island of Dominica has been cancelled due to the lack of “logistical support”, organizers explained. The party-like bitcoin event was announced in August 2014 and planned to distribute small amounts of bitcoin to 70,000 island residents. So far, most early adopters are geeky Westerners, but the Bit Drop promoters think bitcoin can be most useful for developing countries like Dominica. Something like that will be happening when 70,000 residents in the Island Country of Dominica will be getting a never-seen-before “Bitcoin Drop” in March 2015. This would be the first time ever that a country will have bitcoin as its national currency. Dominica is an island nation located centrally in the Caribbean.
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