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Digital Currency aka Cryptocurrency
Table of Contents

  • 1. What is all this hype about Digital Currency?
    Show Answer

    Digital Currency Not a Fad

    Because digital currency is the future of money and payments, and is here to stay.

    "It is my prediction that the 7th Disruption is going to topple the biggest industry in the world - banking and finance - and it began in 2008! This 7th disruption is bigger, badder and more disruptive than all of the previous six disruptions combined!" – Thomas McMurrain, author of THE 7TH DISRUPTION

    Over the past 100 years, we have seen 6 disruptions, and each has created 1,000's of multi-billion dollar industries.

    1. TV
    2. Internet
    3. E-mail
    4. Mobile
    5. E-commerce
    6. Social Media

    The 7th Disruption consists of Digital Currency, aka Cryptocurrency, using Blockchain Technology, and is the future of money and payments. Education of Digital Currency will lead to mass adoption, as has happened in Kenya with M-Pesa , and almost overnight, millions of people around the world will no longer need banks or the world reserve currency known as the US Dollar, or any other inflationary fiat currency. The 7th Disruption is part of the Largest Wealth Transfer In Human History: from banks and financial services to the people.

    "[disruptive] Paradigm shifts involve dislocation, conflict, confusion, uncertainty. New paradigms are nearly always received with coolness, even mockery or hostility. Those with vested interests fight the change. The shift demands such a different view of things that established leaders are often last to be won over, if at all." – Don Tapscott, author of BLOCKCHAIN REVOLUTION: HOW THE TECHNOLOGY BEHIND BITCOIN IS CHANGING MONEY, BUSINESS, AND THE WORLD

    "...it would be in the economic interest of banks and large corporations to participate in such a digital currency, if one simply assumes that banks and others are no different than the taxi or hotel industry and that they will be disrupted sooner rather than later." – Andreas Freund, PhD, "Why Money Is Broken and What Can We Do About It"

  • 2. What Is Digital Currency? Can it be explained in simple terms I can understand?
    Show Answer
    Digital Currency is simply the next evolution of money and payments. Money, as a language of value and medium of exchange, has evolved for hundreds of years, from bartering milk for chickens, to exchanging goods and commodities, to precious metals, to coins, to paper currency, to digital plastic credit and debit cards, to PayPal, to M-Pesa , to Google Wallet, to Apple Pay, to Digital Currency. Money as we have known it — paper currency and coins — is being replaced by Digital Currency. When was the last time you saw a silver dollar in circulation?

    Evolution of Money

    Digital Currency aka Cryptocurrency is an Internet-based medium of exchange with a finite supply and is distinct from physical or fiat currency — paper currency and coins — that exhibits properties similar to physical currencies, but allows for instantaneous transactions and international transfer of funds, operating independently of a central bank or government.

    Digital Currency is much easier to transfer funds between two parties in transactions; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, enabling users to avoid the steep fees charged by most banks and financial institutions for wire transfers.

    Digital Currencies are characterized by finite supply. Their source codes contain instructions outlining the precise number of units that can and will ever exist. Over time, it becomes more difficult for miners to produce Digital Currency units, until the upper limit is reached and new currency ceases to be minted altogether. Digital Currencies' finite supply makes them inherently deflationary, more akin to gold and other precious metals — of which there are finite supplies — than fiat currencies, of which central banks can produce unlimited supplies.

    Due to their political independence and essentially impenetrable data security, Digital Currency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support. For instance, whereas a government can easily freeze or even seize a bank account located in its jurisdiction, it's very difficult for it to do the same with funds held in Digital Currency, even if the holder is a citizen or legal resident.

    In its most simple form, Digital Currency is a type of currency, just like the Dollar or the Euro, that can be used to buy merchandise, exchanged for other currencies and purchased as a growth asset. Think of Digital Currency as the next evolution of money and payments.

    Digital Currency 101 - 72 minute video

  • 3. How can I benefit from Digital Currency?
    Show Answer
    1. Create More Wealth. Unlike traditional forms of money, which lose value over time due to inflation, simply owning Digital Currency is a growth asset that increases in value over time. Because of its finite supply (Digital Currency cannot be additionally printed or its quantity cannot be reduced), if more people use a Digital Currency, this also creates more demand for it, which drives up the value. Digital Currency in general is going through its early growth period right now, meaning that the number of users is rapidly increasing. For optimal value growth, look to acquire a Digital Currency with a growing number of users and opportunities for mining.
    2. Independence from Governments and Banks. Digital Currency is beyond the control of any country, is not affected by inflation or regulation of central banks or other supervisory authorities, as the coins are a separate independent means of payment, which is 100% safe, and cannot be devalued. Digital Currency cannot be withdrawn by the courts or pressure of banks.
    3. Greater Security and Control. Digital Currency is not subject to any political or economic impact and financial regulation and supervision, which makes it 100% secure and maintains a stable value. Digital Currency users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Digital Currency payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Digital Currency users can also protect their money with backup and encryption. Your account cannot be blocked, also particular individuals cannot be refused service for one reason or another.
    4. Confidence and Peace of Mind. When you put your money into a bank, they do not just store it in a vault for you until you need it. They use it to trade on financial markets and make a profit for themselves. You just have to trust that they will have enough left to give you back your money when you need it. This doesn’t always happen. During the 2008 global financial crisis and its aftermath many, many banks simply did not have enough money to make good on all the balances that their customers supposedly held with them. Governments had to step in to provide them with the cash they had lost, but still in places like Cyprus many account holders lost part of the money they had trusted to the banks, whilst many other countries were forced to undergo ‘austerity’ to pay for what the banks had lost, and some countries like Greece are now economically crippled as a result. When you hold money in a Digital Currency wallet, only you can spend it, and you will never risk losing your savings due to somebody else’s reckless and greedy behavior.
    5. Enjoy More Freedom. It is possible to send and receive Digital Currency anywhere in the world at any time. No bank holidays. No borders. No bureaucracy. Digital Currency allows its users to be in full control of their money.
    6. Cheaper Transactions, Cheaper Prices. Digital Currency transaction fees are a lot cheaper compared to things like credit cards or Paypal, and sometimes there is no transaction fee at all, especially as member of a network. This will save you money, and it will save money for the merchants you use, allowing them to offer you cheaper prices on your shopping. This will significantly increase your buying power and reduce your cost of goods and services.
    7. Fast $0 International Transfer Fees. Because Digital Currency exists on the Internet, which itself is global, borders mean nothing to it. Usually sending money abroad carries substantial fees, in addition to currency conversion costs. But on the other hand, sending Digital Currency to the other side of the planet costs exactly the same as sending it to somebody sitting right next to you – and if you aren’t in a rush for it to arrive instantly, that is usually a big fat $0.00! It can also be used for shopping in any country, so you may also be able to avoid the cost of currency conversion too. International payments also go through just as quickly as local payments, so no waiting around for days to send money through the banking system!
    8. $0 Account Fees. Many bank accounts today charge their users a monthly fee. Many of them also charge you hidden fees and charges for using your account. Anybody can create a free Digital Currency wallet, and nobody can ever charge you any fees.
    9. Fewer Risks for Merchants. Digital Currency transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs.
    10. Transparent and Neutral. No individual or organization can control or manipulate the Digital Currency protocol because it is cryptographically secure. This allows the core of Digital Currency to be trusted for being completely neutral, transparent and predictable.
    11. Privacy without Fraud. Digital Currency solves the problem of privacy, eliminates the possibility of fraud, and cannot be faked!
    12. Ubiquitous. It has unlimited transactions all over the world - both quantitatively and geographically.
    13. Fast. It allows quick transactions online and with smart phones.
    14. Easy Account Creation. Because Digital Currency is so new, so different, and so ‘high-tech’, some people wrongly get the impression that it must be difficult to use. In fact, it is much easier to use than traditional banking. Opening a new bank account is a long laborious process, because they require you to provide so many personal details, proof of identity and address, and often also conduct all kinds of intrusive background checks on you. Anybody can create a new Digital Currency ‘account’ in seconds, without providing personal details unless they want to use a service which requires it themselves, and without submitting to credit checks, or digging out all of the necessary paperwork. There is a 100% acceptance rate too!
    15. Too Big to Fail Banks. A related social issue is that of banks which are ‘too big to fail’ and have to be bailed out by governments. This creates a system in which the banks take profits when they are successful, but you pay the bill when they are not. Quite apart from the risk to you personally, this is an immoral situation that encourages irresponsible lending and trading by the banks, with all of the boom and bust cycles and other social problems that this creates.
    16. Responsible Money Creation. Conventional money is created as interest-bearing debt. It only gets created when somebody borrows it into existence, and that person then has to pay interest to a profit-seeking bank. Quite apart from the fact that we are unnecessarily giving commercial banks the ability to control money creation for their own profit rather than the good of the people or the economy as a whole, this creates a situation where the only way for there to be enough money to sustain the economy, let alone for it to grow, is if the people who need money the most are forced to borrow it into existence. This situation, aggravated by ‘quantitative easing’, has already created a dangerously imbalanced economy with unsustainable debt levels in many countries, and high property prices in some, and stock markets which grow faster than the companies and economies they represent due to money being funneled to the top. Forcing the people of a country to pay interest in order to be able to use money is also a form of usury, an immoral lending practice which both Christianity and Islam strictly forbid. The only way to deal with our debt crises and create a healthy economy is to end this institutionalized usury. Digital Currency has a fixed period of money creation, in which new coins are paid to people who maintain the network – with no interest needing to be paid on them.
    17. Bank the Unbanked. It helps the 2.5 billion people (1/3 of the global population of 7.4 billion) who do not have a bank account in underdeveloped regions like Asia, Africa, South America and the Middle East, to gain access to reliable financial services. This in turn contributes to a greater global economic expansion from this new emerging market.

  • 4. What is Bitcoin?
    Show Answer

    Bitcoin 101 - 3 minute video

    The first Digital Currency to capture public attention was Bitcoin, which was launched in 2009, and reached $1,200 at its peak in December 2013. Bitcoin's success has spawned a number of competing Digital Currencies such as OneCoin, Ethereum, Ripple and Litecoin. 

    Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

    Blockchain is a distributed database used as the public ledger of transactions for Digital Currency. The Bitcoin transaction cannot be canceled, unless the recipient actually sends the coins back to the sender. Transactions of Bitcoin Digital Currency line up into chains one after another. The new transaction must indicate from which of the previously created transactions the coins are taken. Blockchain – is a collective public register the whole Bitcoin network is based on. All the confirmed transactions are included in the Blockchain. Integrity and the chronological order of the Blockchain are based on a reliable cryptography.

    Bitcoin made the Internet transactions quick and easy, as well as giving users new opportunities by revolutionizing the world of online payments. Thanks to Bitcoin – Digital Currency is recognized legally in more than 190 countries of the world. The rising cost of Bitcoin Digital Currency is driven by a continued optimism about the prospects for the development of electronic money. Today Digital Currency (Bitcoin) is accepted by 100,000 companies over the world, special automatic terminals for operations with Digital Currency exist. The increasing degree of acceptance of Bitcoin in offline and EURonline stores, the reservation service and etc. make it more convenient to use, along with a reduction in volatility, as more coins come into circulation. The more they are used as means of exchange, the more liquidity they gain. The increasing use will also help to determine a fair price of the Digital Currency.

    Bitcoin is a system that relies on a decentralized ad hoc network, functioning without a central clearinghouse or other intermediary. The Bitcoin network is not controlled by any single institution in the same way as the central bank controls the fiat money circulation. Each computer involved in mining of Bitcoins and transaction processing is a part of this network.

    Unlike the fiat money which can be additionally printed to increase the money supply, the Bitcoin Digital Currency system is designed so that the maximum number of Bitcoin coins is limited in it. According to the predetermined algorithm only 21 million coins can be issued. To this date about 12,000,000 Bitcoins are already issued. This makes 57% of all Bitcoins which will ever be issued, and by the year 2017 75% of coins will be issued. Every day there is about 3,600 new Bitcoins.

  • 5. What is the Blockchain?
    Show Answer

    Evolution of the Bookkeeping Ledger

    Evolution of the Ledger

    What is the Blockchain? - 2 minute video

    You may have heard the term "Blockchain". But what is it and why is it important? Yahoo Finance's Daniel Roberts explains how the technology behind Bitcoin is revolutionizing the financial services industry and beyond.

    World Governments will have to Readjust to Cryptocurrency and BlockChain Technology - 6 minute video

    Blockchain Technology: Bringing the Poor Out of Poverty via Ownership of Property - 6 minute video

    The Blockchain can be seen as the most prominent triple entry bookkeeping system in existence. It is a distributed database used as the public ledger of transactions for Digital Currency. The Bitcoin transaction cannot be canceled, unless the recipient actually sends the coins back to the sender. Transactions of Bitcoin Digital Currency line up into chains one after another. The new transaction must indicate from which of the previously created transactions the coins are taken. Blockchain – is a collective public register the whole Bitcoin network is based on. All the confirmed transactions are included in the Blockchain. Integrity and the chronological order of the Blockchain are based on a reliable cryptography.

    If You Understand Google Docs, You Can Understand Blockchain

    William Mougayar | Published September 8, 2016

    The "New Database"

    The idea that the blockchain is another kind of database is a popular analogy that has been used a lot (I wrote about this subject almost two years ago). In reality, the blockchain doesn't disrupt databases, but it disrupts how databases get synchronized between each other.

    Imagine two entities (eg banks) that need to update their own user account balances when there is a request to transfer money from one customer to another. They need to spend a tremendous (and costly) amount of time and effort for coordination, synchronization, messaging and checking to ensure that each transaction happens exactly as it should.

    Typically, the money being transferred is held by the originator until it can be confirmed that it was received by the recipient. With the blockchain, a single ledger of transaction entries that both parties have access to can simplify the coordination and validation efforts because there is always a single version of records, not two disparate databases. Let's take that analogy further into the shared documents domain, and think about what happens when we share a document where two or more users need to make changes to it.

    Google Docs

    The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it.

    The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes, because you are locked out of editing it until the other person is done with it.

    That's how databases work today. Two owners can't update the same record at once. That's how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again).

    With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.

    Imagine the number of legal documents that should be used that way. Instead of passing them to each other and losing track of versions, why can’t all business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow.

    You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one. read more link

  • 6. How do Digital Currencies rank?
    Show Answer
    Digital Currencies are ranked by market capitalization, in the same way as corporations are valued and ranked. Over 800 different Digital Currencies are available worldwide, and many different private companies are offering values and ranking in the Digital Currency world. Our research found coinmarketcap.com as one of the best non-biased out there, and ranks Digital Currencies by market capitalization. Market capitalization is the market value of a Digital Currency, and this figure is found by taking the coin price and multiplying it by the total number of coins available in the market.

  • 7. How are world governments responding to Digital Currency?
    Show Answer
    USA government regulators ruled September 17, 2015 that Bitcoin, OneCoin, and all Digital Currencies are now a Commodity (virtual money is officially a commodity, just like gold, crude oil, or wheat), and should be governed by Commodity legislation.

    Europe court ruling took a completely different turn ruling that Digital Currency is an actual currency, and cannot be taxed.

    China has approved OneCoin to issue OneNet UPI Cards, issued in association with China Union Pay debit cards, for all members in China! We all know how heavily regulated China is, how much restriction and control there is, especially in business. But after 6 months of consideration, OneCoin was approved! If Chinese regulators had any concerns with OneCoin's business model, there would be no way OneCoin would have gotten approved to receive their very own China Union Pay account! This is a huge step forward in OneCoin's relationship and future in the Chinese market. OneCoin is BOOMING in China! UnionPay is the only interbank network in China, linking the ATMs of all banks throughout the country’s mainland and is widely accepted by the ATM and POS terminals in Hong Kong and Macau, as well as in over 100 countries around the globe.

    Ecuador is the first nation to create its own Digital Currency.

  • 8. How are banks responding to Digital Currency?
    Show Answer
    A growing number of major banks and financial institutions are investing in Digital Currency and Blockchain technology. JP Morgan Chase (Largest bank in the USA) has been looking for help in developing the Cryptomarket while Citibank and Goldman Sachs have been developing their own Digital Currency and Blockchain technology. Bank of America and Goldman Sachs have filed a patent on the Transfer of Digital Currency into other fiat currencies globally. 400 European banks are now quickly accepting Digital Currency and working on its regulation.

    • 90 Central Banks Seek Blockchain Answers at Federal Reserve Event - Major central banks worldwide have recently been organizing their own working groups dedicated to exploring Blockchain technology and Digital Currencies. During a three-day event in Washington, DC, hosted by the World Bank, the International Monetary Fund and the US Federal Reserve, representatives from a range of central banks worldwide offered private details about the ongoing work at their respective institutions. At this gathering the central bank leaders expressed broad interest in how the technology might impact both the banks they regulate as well as their own regulatory practices.

    • Bank of England Getting Behind Digital Currency - The Bank of England, the central bank of the United Kingdom and the model on which most modern central banks have been based, says that Digital Currency, long promoted as a way to free money from the control of banks and governments, could transform the entire financial system.  CNBC interviews the Bank of England and also reports in this 6 minute news segment that money is about to change fundamentally; cash to disappear, replaced by Digital Currency.

    • Bank of England Considering Central Bank-Issued Digital Currency - “The revolution in payments technology pioneered by Digital Currency helps to accelerate the development of better technologies for making payments and transfers cheaper, faster, and more secure.”

    • JPMorgan Chase Bank – Firmly on the Blockchain Boat - JP Morgan Chase Bank, the fifth-largest bank in the world, and the largest bank in the United States by assets, has plans to invest some $9 billion in technologies such as the Blockchain and Digital Currency.

    • Bank of America - 35 Digital Currency Patents - Bank of America has revealed its continued pursuit of Digital Currency patents.  Last year the bank applied for 15 Blockchain related concepts, and drafting 20 more this year, for a total of 35 Digital Currency patents.

    • Goldman Sachs Files Patent for Digital Currency Settlement System

    • Major Banks Join Digital Currency Initiative - BNP Paribas, Wells Fargo, ING, MacQuarie and the Canadian Imperial Bank of Commerce will join 25 other banks including JPMorgan and Citi in the initiative, led by New York-based financial tech firm R3.

    • Bank of Tokyo-Mitsubishi UFJ, Japan’s Biggest Bank, Develops Its Own Digital Currency

    • Barclays Testing Bitcoin, Integrates Digital Currency Into Online Banking

  • 9. Who accepts Digital Currency as payment?
    Show Answer

    Big business accepts digital currency

    Here is a list of 100+ of the biggest companies in alphabetical order that accept Bitcoin Digital Currency.
    1. 1-800-FLOWERS.COM – US based online floral and gift retailer and distributor
    2. 4Chan.org – For premium services
    3. A Class Limousine - Pick you up and drop you off at Newark (N.J.) Airport
    4. Amazon – An online company that sells almost anything
    5. Apple’s App Store - Buy music and any app on the Apple AppStore with Bitcoins
    6. Badoo – Online dating network
    7. BigFishGames.com – Games for PC, Mac and Smartphones
    8. Bing by Microsoft – 2nd search engine to Google
    9. Bitcoin.Travel –travel site provides accommodation, apartments, attractions, bars, and beauty salons around the world
    10. Bitcoincoffee.com – Buy your favorite coffee online
    11. Bloomberg.com – Online newspaper
    12. Braintree – Research firm
    13. Braintree – Well known payments processor
    14. CEX – The trade-in chain has a shop in Glasgow, Scotland that accepts Bitcoin
    15. CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
    16. Crowdtilt.com - The fastest easiest way to pool funds with family and friends
    17. Curryupnow.com - 12 restaurants in San Francisco Bay Area
    18. CVS – A pharmacy shop
    19. Dell - American privately owned multinational computer technology company
    20. Dish Network - An American direct-broadcast satellite service provider
    21. Dream Lover – Online relationship service
    22. Etsy Vendors – Original art and Jewelry creations
    23. Euro Pacific – A major precious metal dealer
    24. Expedia.com – Online travel booking agency
    25. ExpressVPN.com – High speed, ultra secure VPN network
    26. EZTV – Torrents TV shows provider
    27. Famsa – Mexico’s biggest retailer
    28. Fancy.com - Discover amazing stuff, collect things you love
    29. Fight for the Future – Leading organization finding for Internet freedom
    30. Fiverr.com – Get almost anything done for $5
    31. Gap, GameStop and JC Penney – have to use eGifter.com
    32. Grass Hill Alpacas – A local farm in Haydenville, MA
    33. Green Man Gaming - Popular digital game reseller
    34. Grooveshark – Online music streaming service based in the United States
    35. Helen’s Pizza - Jersey City, NJ
    36. Home Depot - Office supplies store
    37. Humblebundle.com – Indie game site
    38. Intuit - American software company offering financial and tax preparation software
    39. i-Pmart (ipmart.com.my) - Malaysian mobile phone and electronic parts store
    40. Jeffersons Store - A street wear clothing store in Bergenfield, N.J
    41. Kmart - Retail products store
    42. Lionsgate Films - The production studio behind titles such as The Hunger Games and The Day After Tomorrow
    43. LOT Polish Airlines – A worldwide airline based in Poland
    44. Lumfile – Free cloud base file server – pay for premium services
    45. LV.net - Las Vegas high speed internet services
    46. Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom
    47. Mexico’s Universidad de las Américas Puebla – A major university in Mexico
    48. Microsoft – Software company
    49. Mint.com - Mint pulls all your financial accounts into one place.
    50. MIT Coop Store - Massachusetts Institute of Technology student bookstore
    51. MovieTickets.com – Online movie ticket exchange/retailer
    52. mspinc.com – Respiratory medical equipment supplies store
    53. Museum of the Coastal Bend - Victoria, Texas
    54. Namecheap – Cheap domain registration company
    55. Namecheap - Domain name registrar
    56. Naughty America - Adult entertainment provider
    57. NCR Silver – Point of sales systems
    58. Newegg.com – Online electronics retailer
    59. OkCupid – Online dating site
    60. Old Fitzroy – A pub in Sydney, Australia
    61. One Shot Hotels – Spanish hotel chain
    62. Overstock.com – A company that sells big ticket items at lower prices
    63. PayPal / Ebay - Credit card / payment processor / Auction
    64. Pembury Tavern – A pub in London, England
    65. PizzaForCoins.com - Domino’s Pizza
    66. PSP Mollie – Dutch Payment Service
    67. Rakutan – A Japanese e-commerce giant
    68. RE/MAX London - UK-based franchisee of the global real estate network
    69. Reddit – You can buy premium features there with Bitcoins
    70. Sacramento Kings – Professional Basketball team (NBA)
    71. San Jose Earthquakes – San Jose California Professional Soccer Team (MLS)
    72. Save the Children  - Global charity organization
    73. Sears - Clothing and household products, electronic store
    74. Seoclerks.com – Get SEO work done on your site cheap
    75. SFU bookstore - Simon Fraser University in Vancouver, Canada
    76. Shopify.com – An online store that allows anyone to sell their products
    77. ShopJoy – An Australian online retailer that sells novelty and unique gifts
    78. SimplePay - Nigeria’s most popular web and mobile-based wallet service
    79. Square – Payment processor that helps small businesses accept credit cards
    80. State Republican Party – First State Republican Party to accept Bitcoin donations (http://www.lagop.com/bitcoin-donate)
    81. Straub Auto Repairs - Hastings-on-Hudson, NY
    82. Stripe - San Francisco-based payments company
    83. Subway – Eat fresh
    84. Suntimes.com – Chicago based online newspaper
    85. Target – An American retailing company
    86. TechCrunch.com – IT blog
    87. Tesla – The car company
    88. The Libertarian Party – United States political party
    89. The Pink Cow – A diner in Tokyo, Japan
    90. The Pirate Bay - BitTorrent directories
    91. Tigerdirect – Major electronic online retailer
    92. T-Mobile Poland – T-Mobile’s Poland-based mobile phone top-up company
    93. Victoria’s Secret – A lingerie outlet
    94. Virgin Galactic - Richard Branson’s company
    95. WebJet – Online travel agency
    96. Whole Foods – Organic food store
    97. Wikipedia - The Free Encyclopedia with 4,570,000+ articles
    98. WordPress.com – An online company that allows user to create free blogs
    99. Yacht-base.com – Croatian yacht charter company
    100. Zappos – Online retailer
    101. Zynga – Mobile gaming

  • 10. Which Billionaires and Celebrities are investing in Digital Currency?
    Show Answer

    Bill Gates, an American business magnate, philanthropist, investor, computer programmer and founder of Microsoft, the world's largest PC software company, said that Digital Currency can make a huge difference for billions of unbanked and underbanked people all over the world, especially in third world developing countries. "In the future, financial transactions will be digital, universal and almost free."

    Facebook Report: Facebook preparing to launch Digital Currency

    Sir Richard Branson is an English businessman and investor. He is best known as the founder of Virgin Group, which comprises Virgin Airlines and more than 400 companies. He is a billionaire and a long-time Digital Currency supporter who has repeatedly claimed that Digital Currency has the potential of transforming global payments.

    Ben Bernanke, Former Chairman of the Federal Reserve, USA:“[Virtual currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”

    President Barack Obama praised Digital Currency, saying, “I’ll be the first to tell you that this technology [Digital Currency] is the future of our financial system.”

    Al Gore, former US vice president and winner of the Nobel Peace prize, “I think the fact that within the Digital Currency universe an algorithm replaces the functions of [the government] … is actually pretty cool.”

    Cameron and Tyler Winklevoss claim that they own $11 million worth of the Digital Currency Bitcoin.

    Marc Andreessen is an American entrepreneur, investor, and software engineer, best known as coauthor of Mosaic, the first widely used Web browser and cofounder of Netscape. He has invested $50 million in Digital Currency startups and said, "Digital Currency gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challengy the legitimacy of the transfer."

    Eric Schmidt, Chairman of Google, said, “Digital Currency is a remarkable cryptographic achievement. The ability to create something which is not duplicable in the digital world has enormous value.”

    Dr. Ruja Ignatova, OneCoin Founder and CEO, International Lawyer, Economist, Banker, Investment Fund Manager. She holds several post graduate degrees from Oxford and University of Konstanz. She was appointed one of the youngest associate Partners with McKinsey and company, working for several European banks and investment companies, and managed $250 million funds. She's been featured in many magazines as an economist, including the front cover of Forbes and Financial IT. She founded OneCoin, a company that has done over a billion dollars in revenue in its first year, faster than any other company in the world. This brilliant woman is all over the Internet as someone who's advocating Digital Currency as the future of money and payments for everyone, especially the unbanked and underbanked in developing economies. On October 15, 2015, she gave an inspiring speech about the Future of Payments at the Fourth EU-Southeast Europe Summit, held by the Economist Magazine. Other speakers: IMF, World Bank, Visa, President of Bulgaria, former President of Sweden, European Investment Bank, Central Bank of Romania, Russia National Energy Security.

    Reid Hoffman, LinkedIn chairman and co-founder's early stakes in Facebook, Airbnb and Dropbox prove he's able to see the next big thing before most of us even know what it is: "... there’s a certainty that there will be at least one global Digital Currency and that there’s a good argument that it’s Bitcoin, or that Bitcoin is one of them, if not THE one. And, if Bitcoin isn’t that global Digital Currency, then something else will be."

    Peter Thiel, an American entrepreneur, venture capitalist, hedge fund manager, co-founded PayPal with Max Levchin and Elon Musk and served as its CEO, believes "Digital Currency has world-changing promise for online transactions without fees."

    Michael Novogratz, Fortune Investment Group, manages 50 billion dollars, is bullish on Digital Currency. He says, “The Digital Currency is attracting some of the smartest people around.” He's investing his personal money in the infrastructure of the Blockchain and Digital Currency.

    Tim Draper, an American venture capital investor, founder of Draper Associates and Draper University and manages 30 billion dollars. Two years after buying roughly 30,000 BTC at auction, investor Tim Draper is still passionate about the technology. He's one of the biggest investors in Digital Currency and believes that, "Digital Currency will be as important to our world as credit cards or paper money."

    Peter Diamandis, renowned futurist, author of Abundance – the Future is Better Than You Think and founder of the XPrize and the Singularity University, believes that Digital Currency is “going from deceptive to disruptive.” He has been well quoted as saying that Digital Currency is the future; Blockchain and Digital Currency is where it's at.

    Roger Ver, CEO of MemoryDealers.com said, “Bitcoin is the most important invention in the history of the world since the internet."

    Chris Dixon, a partner at the venture capital firm Andreessen Horowitz, and personal investor in technology startups said, “Three eras of currency: Commodity based, e.g. Gold.; politically based, e.g. Dollar; math based, e.g. Digital Currency.”

  • 11. Who are the best-known authorities on Digital Currency?
    Show Answer
    Dr. Ruja Ignatova - OneCoin Founder and Chief Operating Officer, International Lawyer, Economist, Banker, Investment Fund Manager.

    Clif High – Internet data mining expert Clif High does what he calls “Predictive Linguistics,” to mine the Internet and collects billions of data points to produce forecasts of the future. High has predictions on Trump, gold, silver, housing, stocks, bonds, the dollar, interest rates and even new discoveries that will change the world that are coming out of Antarctica.

    Tom McMurrain – Best-selling author of THE 7TH DISRUPTION said, "It is my prediction that the 7th Disruption is going to topple the biggest industry in the world - banking and finance - and it began in 2008! This 7th disruption is bigger, badder and more disruptive than all of the previous six disruptions combined!"

    Andreas Antonopoulos - Andreas M. Antonopoulos is a California-based information security expert, tech-entrepreneur and author. He is a host on the Let's Talk Bitcoin podcast and a teaching fellow for the master in science Digital Currencies at the University of Nicosia.

    Don Tapscott - Don Tapscott is a Canadian business executive, author, consultant and speaker, specializing in business strategy, organizational transformation and the role of technology in business and society. He is author of "BLOCKCHAIN REVOLUTION: HOW THE TECHNOLOGY BEHIND BITCOIN IS CHANGING MONEY, BUSINESS, AND THE WORLD". Don is ranked the 4th most influential thinker in the world in the 2015 Thinkers50 Awards.

    "The technology likely to have the greatest impact on the future of the world economy has arrived, and it’s not self-driving cars, solar energy, or artificial intelligence. It’s called the blockchain. The first generation of the digital revolution brought us the Internet of information. The second generation―powered by blockchain technology―is bringing us the Internet of value: a new, distributed platform that can help us reshape the world of business and transform the old order of human affairs for the better."

  • 12. How are Universities handling the new Blockchain technology and Digital Currency?
    Show Answer
    Several notable US and international universities are now offering courses and degrees in Digital Currency costing up to $18,000, including: Stanford, MIT, Princeton, Yale, Cornell, New York University, Duke University, University of Michigan, Singularity University, University of Cumbria in Scotland, Canada's McGill University, University of Nicosia in Cyprus.

  • 13. What are the motives of Digital Currency users?
    Show Answer
    If people use Digital Currency for buying goods and services, there must be some benefit in using Digital Currency over fiat currencies, of which the most obvious benefits are:
    1. Lower transaction costs
    2. Tax reasons
    3. Anonymity
    4. Specific goods only traded for Digital Currency

    Recent research on Bitcoin usage revealed 4 key motivations in 4 possible clientele groups:
    1. Curiosity: Tech enthusiasts and computer programmers, or miners, can earn the Digital Currency in exchange for utilizing special software to authenticate real-time Bitcoin transactions.
    2. Profit making: Speculative investors might be attracted to the Digital Currency because of its sometimes wild price fluctuations.
    3. Politics: Anti-establishment Libertarians typically are against any type of central bank regulation and favor the mostly unregulated nature of Digital Currency.
    4. Anonymity: Criminals are lured by anonymity of dealing in Digital Currency.

  • 14. What are the demographics of Digital Currency users?
    Show Answer
    Two recent studies of who uses Bitcoin indicate that the typical user of the currency is male, relatively young and – most importantly – fairly affluent. The surveys of who uses Bitcoin did not hold a lot of surprises. Bitcoin users are overwhelmingly male (88%), with an average age of about 32. What few may have expected – and the one data point sure to draw the attention of more businesses – is that a person who uses Bitcoin frequently has a higher-than average income.

    Nearly half of the people who use Bitcoin have annual incomes of $50,000 and above. More than one-third – 35% – have incomes over $100,000, and more than a quarter, 26%, make more than $150,000. And it doesn't hurt that most of these folks are by definition also very tech-savvy and are comfortable using the Internet to make purchases. Some highlights:

    1. The average user is a 32.1 year old libertarian male.
    2. Top motivators for new users are curiosity, profit, and politics.
    3. Bitcointalk.org is the dominant community platform.
    4. Far more people have used Bitcoin for donations than for illegal transactions.
    5. 36.7% of users do not drink, smoke, gamble, or take drugs.

    The “average Bitcoin user” is male (95.2%), 32.1 years old, libertarian / anarcho-capitalist (44.3%), non-religious (61.8%), with a full time job (44.7%), and is in a relationship (55.6%).

    As expected Bitcointalk.org is the dominant platform of discussion, used by 54.1% of users. Reddit (38.5%) also had a strong showing, as did Facebook (25.5%). IRC was used by only 19.6%. Twitter, Google+, and Bitcoin.it Wiki were the only other platforms over 10%.

    The greatest community fear for Bitcoin is “regulatory/legal intervention” (31.2%) followed by ”reputation problems” (17.6%). A large number of people answered “Other” and in the free-form field wrote to the effect that Bitcoin was too technically demanding for mainstream use.

    Despite its hedonistic reputation, the Bitcoin community has a contingent of clean-living ascetics, 36.7% of respondents do not drink, smoke, take drugs, or gamble. Only 10.6% of respondents have used BTC to buy narcotics. In fact the most common use of bitcoins was for gifts/donations (35.0%), while computer services was also quite high (25.6%).

    Overall more people seem to find Bitcoin intellectually rewarding (67.8% have learned more about cryptography) than socially rewarding (18.9% have made friends).

    As mentioned, Millennials and high-income consumers are expected to drive the use of Digital Currencies. The primary reasons cited for using Digital Currencies is for protection of personal identity (46%) and lower transaction costs (43%). Alternatively, a lack of overall understanding remains the number one reason why people today do not use Digital Currencies, with 38% of consumers not interested in using Digital Currencies saying they need more information before they will consider use.

  • 15. What is the future of Digital Currency and the Blockchain?
    Show Answer

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