Bitcoin Panel Illuminates the World of Crypto-currencies for the Oregon AFP

Bitcoin2/21/2015 Portland, Oregon – Pop in your mints…

For those who were unable to join us on Wednesday, the Bitcoin panel discussion at the Oregon AFP was a great success.  With us were six of the finest minds in Crypto-currencies in the Portland area.  These minds, together with some of the finest financial practitioners in the city, worked to bridge the gap between the Bitcoin universe and mainstream commerce.

We were pleased to find that the two are really not that far apart.

While there were a number of keen insights shared at yesterday’s meeting at the Multnomah Athletic Club, three stood out in our minds:

1) Transactions volume in Bitcoin has soared over the past two years and the USD/Bitcoin price action has settled down as a result.  Further, Venture Capital is pouring into the Bitcoin industry, proving that crypto-currencies, once on the exciting confluence of technology and money, are now entering the relatively boring yet infinitely more profitable economic mainstream.

2) Bitcoin innovators have largely solved the problem that has thus far kept most bankers at bay:  KYC, Know Your Customer.

3) Concerns about Bitcoin’s wild fluctuations in value are addressed by services that instantly exchange Bitcoins accepted in trade into national currencies. This is especially important for those who transact day-to-day business in Bitcoin, as it is technically considered property for tax purposes and could otherwise create an accounting nightmare. It also allows for a clear delineation between Bitcoin speculation and Bitcoin circulation, two completely different activities before were often unwittingly commingled by virtue of one’s use of Bitcoin in trade.

Bitcoin has come a long way since we published our 48 hour crash analysis of the emergent monetary revolution back in 2013, and our panelists did a superb job of presenting a balanced discussion of the present state of crypto-currencies.

A special thanks once again to all of our panelists, Lawrence I Lerner, Ian Pulicano, Anna Guyton, Mike Fors, George Fogg, and Rhys Faler, who was planning on spectating and found himself on the panel in the midst of an incredibly rich, informative, and relevant discussion of the merits and challenges of Bitcoin.

Ian had the difficult task of breaking the ice of ignorance and/or skepticism that is often associated with presenting the concept of Bitcoin to someone for the first time, which is never an easy task.  Beyond explaining the technical side in a concise manner, the slide near the end which highlighted the exponential growth in transactions and VC funding over the past 3 years got everyone’s attention and set the stage nicely for the discussion that followed.  Anna did a great job of stepping up as moderator and added valuable insights throughout, Lawrence did an excellent job of bridging the knowledge gap between industry and Bitcoin through helpful analogies, Mike and Rhys provided the evidence that Bitcoin can and is being used in everyday transactions, and George added insight into the inherent challenges and opportunities of Bitcoin on the regulatory and securitization side of the house.

At the end of the hour, the audience was left with one inescapable conclusion: Crypto-currencies are here, are here to stay, and will be part of one’s economic experience in the not too distant future.

For the benefit of those who were unable to join us on Wednesday, we offer the following bootleg recording of the event:

We also offer the hope that these types of panels will be held in other venues where finance and technology intersect, and that mankind will be all the better off for it.

Stay Fresh!

David Mint

Key Indicators for February 21, 2015

Copper Price per Lb: $2.58
Oil Price per Barrel:  $50.81

Corn Price per Bushel:  $3.85
10 Yr US Treasury Bond:  2.13%
Bitcoin price in US: $246.31
FED Target Rate:  0.09%
Gold Price Per Ounce:  $1,204

MINT Perceived Target Rate*:  0.25%
Unemployment Rate:  5.7%
Inflation Rate (CPI):  -0.3%

Dow Jones Industrial Average:  18,140
M1 Monetary Base:  $2,884,400,000,000

M2 Monetary Base:  $11,771,600,000,000

Bitcoin, Cryptocurrencies, and Alternative Payment Systems: A Panel Discussion

BitcoinFor those who are in the Portland area, the Oregon & SW Washington Association for Financial Professionals is hosting a panel discussion on Bitcoin, Cryptocurrencies, and Alternative Payment Systems on Wednesday, February 18th at 11:30am at the Multnomah Athletic Club.

As you can see, the panelists are top notch:

Lawrence I Lerner of LERNER Consulting – Change Agent in digital strategy, payments, security, change management, and retail: http://lawrenceilerner.com/

Ian Pulicano – Digital currency specialist and co-founder of Bit Consultants.  Building the new paradigm

Anna Guyton – Co-Founder of Bit Consultants, Bitcoin educator and integration specialist, encouraging individual and local self-sufficiency https://bitconsultants.org/

Mike Fors – Founder of BitcoinNW, Bitcoin evangelist, and owner of a Bitcoin Kiosk located in Pioneer Square: www.bitcoinnw.com

George K. Fogg – Partner, Perkins Coie, LLP, national co-chair of firm’s Financial Transactions and Restructuring practice and a member of the firm’s Virtual Currency Team

Your’s truly will be moderating and generally trying to stay out of the way of what promises to be an interesting, informative, and timely discussion amongst those in the Pacific Northwest who are at the forefront in this exciting and perplexing space.

You can register for the event here: http://oregonafp.camp7.org/event-1844146

First time guests to the group are free, which is a nice.  Hurry, though, as space is limited.  Hope to see you for this important topic and Stay Fresh!

An Ode to Papa Jerry

Jerry and Bettie Mitchell
Jerry and Bettie Mitchell

Earlier this year in the class on Luke, we collectively learned that death is a form of healing. This being the case, our friend Jerry Mitchell was healed on January 28th, 2015. In terms dear to us as Samaritans, it may be said that Jerry graduated to heaven on that day.

Jerry Mitchell, or Papa Jerry, as we knew him, taught in the Beaverton School District until his retirement. He was already retired when we met him. We came to know Jerry as the cornerstone of Good Samaritan Ministries (GSM), a ministry with a call to “teach nothing but the Kingdom of God,” a call which continues to this day at GSM in Beaverton.

While Jerry’s wife, Bettie Mitchell, is recognized as the founder of the Ministry, she is always quick to recognize that Jerry, by giving permission for Bettie to leave her teaching job to pursue the Ministry full time, was the one who released the calling into action. It was he who supported and accompanied her through the years as the Ministry grew to touch lives not only in Beaverton but also in some 32 countries throughout the world.

Jerry was a veteran of World War II and a member of what Tom Brokaw famously referred to as “The Greatest Generation.” Jerry was a great fan of the Portland Trailblazers and was always quick with a smile and a joke. He was honest and approachable and loved children. It may truly be said that he never lost touch with the child within himself.

His positive impact as a soldier, teacher, and Samaritan can be seen today on four continents, and we count ourselves blessed to have had our hearts warmed by knowing Papa Jerry towards the twilight of his wonderful life. The world is a better place because Papa Jerry lived.

Rest in peace Papa Jerry, and thank you for your many sacrifices this side of heaven. We look forward to the time when we will meet again on the other side.