Showing posts with label interview. Show all posts
Showing posts with label interview. Show all posts

Saturday, November 26, 2011

Roger Ver's Fantastic Bitcoin Interview

Osmosis brings us this story:

If you haven't yet heard the interview, you should definitely have a listen:

Roger Ver is the owner of Memory Dealers.

Monday, October 24, 2011 Launches Massive Bitcoin-Enabled Virtual Goods Marketplace

Edit: is currently in beta and invite only. It will be opening to the public in the very near future.

When you first visit, your initial impression is that you've stumbled across your average Internet discussion forum. After a few seconds, however, you begin to realize that you're looking at something bigger - much bigger.

There are two things about the site that catch your eye, one being a little more obvious than the other. As you scroll down, you are presented with the massive scope of the community that Jesse Powell and his team at Payward, Inc. have put together. Scrolling back up to the top, assuming you are logged in, a much subtler feature greets the astute eye. In tiny writing you see the acronym "mBTC," and a number. This number, which tells you how many milliBitcoins you are holding on the site, sets the community apart from the competition and is what Ogrr hopes will win it a substantial portion of the global virtual goods market. Incredibly, sales of virtual goods generated $7.3 billion in global revenue in 2010 and, according to Powell, the market could be worth as much as $16 billion in 2012. He explains how his site is different and why users will prefer Ogrr over existing sites:

Tuesday, August 30, 2011

Interview Series Part 2: Bruce Wagner - The Bitcoin Show / OnlyOneTV /

In the first months after the genesis block was created, Bitcoin kept a pretty low profile. During that time, anyone who came across Bitcoin was faced with many days of research before they could even somewhat understand Bitcoin and what it could possibly mean for not only the Internet, but the future of financial transactions.

People discovering Bitcoin these days have resources to turn to that can explain Bitcoin in layman's terms, including and of course, The Bitcoin Show, both created and hosted by none other than Bruce Wagner - arguably Bitcoin's most famous spokesperson.

While taping the next few episodes of his show in Japan, Bruce generously set aside some time to speak with Bitcoin Trader. We discussed the very beginnings of his association with Bitcoin, his current projects, and some very interesting points on Bitcoin's prospects.

BT: Bruce, thank you so much for taking time out of your busy schedule to talk with me. My first question, while straight-forward, is sometimes the most difficult to answer: who is Bruce Wagner?

BW: Hmm... that is a difficult question. How much time do we have again? (laughter) I feel like I've lived many lifetimes. One of the handles that I use is Punlman. PUNL stands for Pure, Unconditional, Non-judgemental Love - it's my philosophy, and also the theoretical title of a book I may write one day. That's who I try to be.

"Our mission statement at OnlyOneTV is to help as many people as possible in the most profound way possible. Everything we do - we try to make sure it adheres to that philosophy."

I'm most known for, at the moment, being the CEO of an Internet TV Network, The Bitcoin Show has been the most successful of our shows, and we're in the process of rolling it out in 10 additional languages, 11 altogether. Most of the other hosts will be in New York, though some will be using Skype. A while back, we put the word out that we were seeking hosts, which we still are, actually; we've got about half of what we're looking for. We're looking for people who are Bitcoin enthusiasts first and foremost, but who have the language skills we need. I think it's really important that it's available in other people's tongues. OnlyOneTV is a global network, and Bitcoin is a global currency. Our mission statement at OnlyOneTV is to help as many people as possible in the most profound way possible. Everything we do - we try to make sure it adheres to that philosophy.

BT: How did you find out about Bitcoin and why are you and Bitcoin such a great match?

BW: It was on Twitter; I had 12 to 13 thousand followers at the time. I tweeted something about the Fed, I don't remember the specifics, and someone responded that I should check out Bitcoin. I thought, "Okay, what's a Bitcoin? How is it different from PayPal, or MoneyBookers?" The person took the time to patiently answer my questions, so I decided to check out the link he gave me - this was October 2010. "Fine," I thought to myself, "I'll click the link." As I read, I was amazed, I thought "is this real, is it possible?" I even found out that there was already a market - an exchange - MtGox. I saw this had real potential, this was cool.

"Bitcoin was my crystal meth."

What happened then, as is often the case with many geeks, is that I become immersed, obsessed even. For the next four or five days I barely ate or slept. It was like those commercials you see where they say "this is a normal person, and this is a normal person after two months of smoking crystal meth." Bitcoin was my crystal meth. Learning about it was blowing my mind - the more I learned, the more I needed to know. I then realized, what this needed was a good explanation. I had a website up in less than 24 hours. Once it was up, I had people in the online community verify my facts; I got feedback and fine tuned it. The site took off like a rocket. It was the first time Bitcoin had been explained in simple layman's terms and within two to three weeks, volunteers had translated it into 12 languages. It was really popular and I felt I was doing something good for humanity, which is what I'm all about.

Every once in a while, I'd get a request from the media for an interview with Satoshi, like they thought I somehow represented him. He was there, participating in the forums until April of this year, though I never saw him reply to an interview request. My response was no, he doesn't do interviews. Gavin was around then as well, and he did some interviews, but then they somehow found me. People thought, because of, that I was the official rep of Bitcoin. I had to explain to them that I was not the official rep and definitely not an expert on Bitcoin, but they couldn't get a hold of Satoshi so they interviewed me. Radio, newspaper, television, magazines, you name it. I don't think there's one major financial newspaper, magazine, or global TV network that hasn't interviewed me over the last three to four months.

So, going back, my partner and I were in the process of launching OnlyOneTV. There was no Bitcoin Show yet, and we were about to launch 27 shows. One day, he got frustrated, telling me all I did was sit around and talk about Bitcoin. Since I was already getting paid to talk, I thought, "maybe we should make a Bitcoin show?" We did one episode and instantly got four new sponsors, so I decided to go from a weekly to a daily show, about five a week. We then got 14 new sponsors! What this showed me was that there was huge interest in Bitcoin. We were the only Bitcoin show, and advertisers needed to reach our audience. That brings us to the present day.

BT: Organizing the Bitcoin Conference was an inspired idea. Now that it's all over, looking back, what was your favourite moment at the conference?

BW: My favourite moment - wow - there were so many really. The speakers were my good friends, so I had already heard what they had to say, not to say that they weren't all excellent. I think my favourite moment of all was addressing the whole group - my opening speech - I could feel their love and enthusiasm for being there. I was just reiterating what they already knew, that this was exciting - it was the first Bitcoin conference and we were making history - like the first meeting between the guys who started the Internet, or Facebook.

The conference was not a press conference - it wasn't about the media or educating the public. The reason we had it was to get users, developers, start-ups, and entrepreneurs to network with each other. The private meetings, the breakout groups, the pre-conference and post-conference meetings - those were the best. They brainstormed and exchanged contacts, and they're working together now because they met each other in person and developed those relationships - all these great minds all over the world are working on the infrastructure that's needed.

And the media is just incredibly interested. Meze Grill was one of our first sponsors, and they've had everybody in there. Reuters, NPR, CNN International, Al Jazeera English, every major media outlet has gone through there, and the owner - he's blown away.

"Once these hurdles are dealt with, Bitcoin will roll out as fast as Facebook has."

The fact that the media is so interested - it's very telling. The media is interested because the public is so interested. Whatever their opinions are, whatever their bias, the fact is, it's very interesting - nothing like this has ever existed before. You could almost say that electricity was invented, then the Internet, and now Bitcoin, like those are the three major breakthroughs.

Bitcoin is more complex and feature-rich than most Bitcoiners even know. We've discovered scripting, which we'll be covering on our show - it's very powerful. It's also scalable - any new cryptographic algorithms can be used with Bitcoin - it's forward compatible - it's really brilliant. As people get more educated and familiar with Bitcoin, they're going to get even more excited.

I've been saying that the three major hurdles for Bitcoin are security, liquidity, and currency risk, and all three problems will be solved in three months, maximum. Once these hurdles are dealt with, Bitcoin will roll out as fast as Facebook has.

BT: Bruce, since the middle of June, Bitcoin has been in a bit of a lull. You see it on the forums, you see it in the trading. I mean, in terms of market-cap, if you will, it's just been flat or decreasing. Do you think that's a problem? What's going on?

BW: Here are the facts: we are in the wild wild west days of Bitcoin. It's a new frontier, new technology. People are realizing that it's not like email - it has to be more secure. The transactions can never be reversed like a credit card or PayPal, and you don't always know your customer.

It's like having a bag of gold on your hard disk, and people can't wrap their minds around it - it's not like having normal files or documents - a stolen backup compromises the original as well. It's tricky to secure it - even experts have lost enormous amounts by accidentally making mistakes with their security and backups; because of that, there have been disasters.

In the literal wild wild west, there were wildcat banks - people who went into a tiny town, and put up a sign saying "bank." After a few months or years, they would just be gone with the money. That's what happened with mybitcoin - you remember my notorious episode 33 - it's an unfolding story and it's not over. It was a big fraud, and they stole millions of dollars from thousands of account holders, systematically, since the start. It's about trust, and this long-standing entity turned out to be not the one to trust. January 2009 was the beginning of Bitcoin. By April 2009, was registered, and by June or July it was running. It was older than MtGox; it was the oldest institution in the Bitcoin world.

There were problems with customer support, they weren't replying. And they had a setup where if you lost your password, you weren't getting it back - there was no "forgot-password" feature. We figured that was their business model - you lose your password and they take your Bitcoins - a big screw you. The owner of mybitcoin was anonymous but it didn't raise any red flags because at that time, the entire community was anonymous. I was one of the first people, if not the first, and of course Gavin, that used a real picture on the forums.

They gave us no real reason to suspect them. A lot more people than willing to admit have lost Bitcoins to mybitcoin. I'm not so sure I was the largest depositor - I think the others are just too embararssed to admit what's happened to them.

Going back to your original question - the big bank heist has scared people away. The price is just bobbing along, and it's understandable. Non-tech people were selling like crazy and running scared - you can't blame them - all they knew was people got scammed - and they didn't know the difference [between a website problem and a Bitcoin problem]. The tech-savvy people were buying like crazy, but now the price has leveled off - they've invested all they've budgeted, and everyone who was running scared has sold. Bitcoin usually goes up, up, up, so when it's flat, in Bitcoin terms it's a "crash," but it's understandable due to the recent uncertainty.

"In three to six months, the software coming out will blow people's minds. Everything is going to change, in Bitcoin time."

For the three major problems that still exist, that I mentioned earlier, the solutions will be here in three months, tops. Once they're in people's hands, they'll spread like crazy, and the price [of Bitcoins] will go way up and interest will be hot like before.

BT: Is three months a ball-park figure or gut-feel? Do you know the people working on these projects with a three-month timeframe? Where do you get the three months from?

BW: People tell me lots - I'm privy to a lot of projects - some secret - some not. Almost every new start-up is trying to solve one of these problems: security, number one - protecting people from themselves and from outside theft; second, liquidity. It has to be as easy to buy a Bitcoin as it is buying a cup of coffee; third, currency risk. Merchants can't accept Bitcoin and then have it drop ten percent when they already have a razor-thin profit margin; there has to be a way to guarantee they don't take currency risk.

It's exciting because it's happening fast. So many bright minds are invested emotionally, philosophically, technologically, and financially. In three to six months, the software coming out will blow people's minds. Everything is going to change, in Bitcoin time.

Bruce Wagner is the CEO of OnlyOneTV, owner of, and host of The Bitcoin Show. He resides in New York City, and we caught up with him in Tokyo, via Skype.

Monday, August 29, 2011

Upcoming Interviews

Hello again, loyal Bitcoin-Trader readers!

(Can you really be loyal after three days? I like to think so).

Just a heads up that I have two more exciting interviews lined up for your reading pleasure.

This week, I catch up with Bruce Wagner in Tokyo, Japan, where he's taping the latest episodes of The Bitcoin Show for OnlyOneTV.

Later in the week, I will be chatting with Arthur Britto, Vice-President of Business Development for, the exchange that recently teamed up with Chase and Wells Fargo, giving its users the ability to clear deposits overnight; a huge improvement over its competitors.

I look forward to hearing about their Bitcoin ventures, as well where they both believe Bitcoin is headed. Stay tuned!

Sunday, August 28, 2011

Interview Series Part 1: Josh Strike - Strike Sapphire Casino

Josh Strike is the founder and CEO of Costa Rica based online Bitcoin casino, Strike Sapphire. In this exclusive interview, he describes the entertaining path he has followed to get into the online gambling business, the challenges he has faced getting there, and he gives us his insight into the future of Strike Sapphire and Bitcoin, with some interesting revelations.

BT: Where are you originally from, where do you live now, and what is your background in terms of education and previous employment?

JS: I was born in LA, but most of my family has lived in Las Vegas since the early '70s. I grew up around floor managers, pit bosses and bartenders, and I spent a lot of my childhood in the coffee shop at the Sahara, keeping track of my Mom's keno cards and wandering around the edges of casinos hiding from the Sheriff while my Mom played slots.

I started to think in terms of odds at a pretty early age. I remember stealing a bunch of keno cards so I could set up a game for my friends in third grade. Around the same time, my half brother graduated from Cal Poly SLO [California Polytechnic State University, San Luis Obispo] as a programmer, and gave me his TRS-80 Model 100 laptop from RadioShack, along with the original manual, which had everything you needed to know to start programming in BASIC. It had 16k of RAM, ran on AA batteries, and I took it everywhere, along with a tape recorder for saving programs. So I was sitting in Vegas, turning the odds on keno cards into little simulations when I was eight years old.

Later on, in 1995, I got a summer job doing graphic design for an ad agency in LA and worked that and a coffee shop job until the end of high school. I then moved to a crackhouse hotel on Jones & Geary in San Francisco and got a job in Web design, and taught myself Flash and PHP. After the bubble in 2000, I tried college for a year at Pratt Institute, but I'm not a big team player and organized education didn't agree with me. I was getting burned out on design, so I dropped out and became a cab driver for a couple years in LA. After that I drifted to New York and waited tables at the Carnegie Deli and Deluxe on Broadway, and dealt underground blackjack & poker games in Harlem and the Bronx all night. Finally I found myself broke in New Orleans after a bad three weeks of solid gambling, and took the train back to LA to start my life over.

Once back in LA, I got a job working for a guy who ran an instant postcard montage kiosk at a mall, and did Bar Mitzvahs, and worked for him as a speed-Photoshopper for about a year doing 20
montages an hour. He introduced me to his cousin who was starting a doggy daycare center in New Jersey called the Barker Lounge, and that's when I started coding again seriously. The Barker Lounge wanted a ton of original software written to manage the franchises they were planning, and I knew I could do it. Right about then my apartment got broken into and all my s--t stolen, so I made a deal with the owner of the company so I could get an advance and write the software from abroad, and my girlfriend and I moved to Argentina. That was the foundation of the Strike Agency, which is my day job. Since then we've worked and traveled across South America, New Zealand, Australia, Thailand, Vietnam, France and Spain.

BT: How did you get started in the online gambling business?

JS: I guess I came by it honestly, but I'm definitely an outsider in the business, to put it mildly. About 3-1/2 years ago in New Zealand, I was the only coder on contract for the now-defunct, which was this video strip quiz site about the 2008 elections. It ended up getting bought out by Fox, who shelved it. I sat down to think about what to do next; I wanted to start my own site, and I compared a bunch of different business models.

I couldn't get past the allure of gambling. I knew it would be hard to satisfy the legal regulations, but it turned out I had no idea how hard that would actually be. I just happened to have the time and money to sit down and do something for myself, so I started writing a casino. I had the basic framework for Sapphire and a working blackjack and poker game in about six months; after about a year I had ten games. I started beta testing, ironed out a lot of bugs, and by the end of year two we had about 15 games and a couple of lawyers on board, and I thought we were ready to open for business.

I actually thought it was as simple as incorporating in Costa Rica, staying away from US players and signing up with some payment processors. Man was I wrong. Online gambling is a tight club, and they aren't accepting members - ever. Pity the fool that wanders into this naively. You've really got to do something unique to break into the club. I spent a year talking with lawyers and investors and payment processors, trying to get things working. The bottom line was, we probably couldn't have launched it for less than seven figures. And then along came Bitcoin...

What's been awesome about Bitcoin is, we get to start small and focus on the software. We can test the system, train employees, learn day-by-day how to run it, and be making enough to prove the concept from day one, without breaking any laws anywhere or exposing ourselves to more risk. And it's completely possible that in a year or two we could actually bootstrap it to other payment methods, without ever paying to buy into their club, and they'd be scrambling to catch up with us in the Bitcoin market. That's how I'm thinking, and I love the idea.

BT: How difficult was it to write the software?

JS: I wrote it, and rewrote it, and rewrote it. It's about 500,000 lines of code, front and back, and I know every line by heart. I don't think it could've been written any other way. One of my heroes is Chris Sawyer, who wrote Roller Coaster Tycoon back in 1999. He is supposedly the last person to publish a game that is completely written by one coder. I wouldn't compare myself to him because he writes in Assembly and he's a complete genius, but I've always believed in the DIY ethic.

BT: Are there any additional features coming to Strike Sapphire?

JS: Yes. I'm adding new features constantly, and soon I hope I'll be adding coders who'll be adding more features. Since we launched, I've brought in lobby chat, special FX for VIP players when they win, and improvements to a lot of the underlying systems for smoother performance in a lot of games. But more than anything else, I want to focus on inventing new games. So far, I think Mayan Gold, Sixty Watt Slots and Sapphire Keno are our most original, but there are about six more I've got on paper right now that'll seriously blow people's minds. I just need some spare time, because suddenly I'm deep into casino management and expansion and trying to train up new employees.

BT: Why should I gamble online at Strike Sapphire vice other Bitcoin casinos?

JS: Well, I could give you a stock answer but I guess, if you dig it, do it. I think the fact that all our table games are multiplayer gives us an advantage in the community because people can play and
meet each other. Right now, we're the only truly legal complete casino with a full spectrum of original games, with an actual corporate structure and lawyers; what you kind of expect from an online casino. As far as I know, we're the only one that isn't based in the US, and we're also the only casino in the world running our software. I'm hoping the software, and the atmosphere, will be the two biggest draws to players. We really try to keep things chill and friendly, and get to know our players personally. It's a very social, chatty casino. One guy accused me of running a tea room instead of a poker room!

Also, we do things with a level of transparency that no other casino does, like showing every single blackjack shoe and publishing our randomness reports every day. I'm not going to hammer on the bonuses or freerolls or whatever, because every casino has stuff like that, and honestly ours aren't as loud and splashy as others. But with us you know what you're getting. I think people should just check out all the sites and decide for themselves if we're better.

BT: Do you have any other projects in the works?

JS: (laughter) I'd like to build a 14-foot-wide version of Mayan Gold and put it in the Luxor, but I had a fight with the architect, and I'm kind of full up right now anyway...

BT: What sorts of projects would you like to see developed for Bitcoin?

JS: Anything that makes it easier to transact through Bitcoin is a good thing for the currency, and a good thing for us. I think the biggest hurdle is exchange, so I love the ATM concept, and the green address idea; we'd love to work with that. If you have a larger volume of generic, day-to-day transactions going on all the time, the market will stabilize and you'll have less volatility, less speculation. I think bootstrapping Bitcoin as a global currency is going to be a two-step process, and step one is stabilizing it as a medium of exchange between other currencies - a cheap way to get money online and send it to someone who can withdraw it. The second step is we have a completely functioning Bitcoin economy where you don't need the exchanges, and then the doors come off. Step one seems to me a prerequisite to step two, so we're happy to be helping with that.

BT: I guess you think Bitcoin has a pretty bright future!

JS: I think it has an extremely bright future, and I'm not the only one. One of my partners in this project, who contributed to our initial float investment, was a co-producer on two of the three best-selling video games of all time. He prefers to remain anonymous so that's all I'll say, but it was my decision to go with Bitcoin that convinced him to get into it. Another friend of mine who works for Yahoo in a senior payment-related role has been asking me about Bitcoin too. People are curious. I think it needs to gain critical mass, and part of that is going to be ease of use, including ease of use as a simple exchange instrument without having to hold it or worry about it going down.

Another important thing is showing that the community can police itself so that Bitcoin doesn't end up being a medium of exchange for mostly illegal businesses. That's one reason we try so hard to be compliant with US laws, and I wish other casinos would see that it's in their best interests to do that too.

I think Bitcoin will go through a period of increased hardship as governments crack down and a lot of the sites you see now are targeted for illegal activity. All that's an excuse for governments to demonize the currency, to delegitimize it. But in the end, I don't think governments can actually shut it down. And if more legitimate sites pop up that have nailed down what we have - basically a plan for working within the system at the early stages, keeping it legal, hedging Bitcoin risk and just using it as a free way of receiving payments - then an explosion of Bitcoin value could happen pretty fast. That explosion has the potential to radically change the world.