Topic: BitCoin Adventure Travel (Read 847 times)

After Shanghai, I am in New York now.

I have not been really able to communicate the power of BitCoins. What gets me so excited about it. So I will try.

In fact things do not look exciting at all if you see it as another method of payment. Visas and dollars of the world do a good enough job of it.

Where BitCoins make a big difference is its ability to do new things that were never possible before.

Imagine this:

1. Earlier you used to put money in a bank for safe keeping and they used to pay interest. Although the interest accumulation could make you feel that your deposits are growing, in actual they were decreasing in net purchase value even after compounding interests due to inflation.

In BitCoin world you simply hold BitCoins in your wallet. It will not pay you any interest. But after lets say 4 years its value will be more than bank deposit in cash + interest.

You are the your own bank now.

2. Opening an offshore bank account is ridiculously difficult due to impossible laws.

Now all you have to do is to put your money in your BitCoin Address and get cash back anywhere in the world where BitCoin ATMs are tolerated.

3. Earlier if you were an entrepreneur, you had to run around a venture capitalist for funding. Now you can directly raise funding in ICO (Initial Coin Offerings). You do have to prove that you have a great idea. But your investors are not one big VC but multiple smaller communities all over the world who empathize with your ideas.

4. Earlier you used to go to stock exchanges for listing. Now you go to "Bank of the future" for raising finances and returning investments back to investors without going through tonnes of paperwork. You create your own terms and conditions.

5. And the best part .. All your pitches need to be made to existing BitCoin users themselves. There is no need to appeal to people who do not understand BitCoins. BitCoins community is big enough to make a big difference. It is very passionate, calls our fake BS ideas ruthlessly, backs truly ingenuitive ideas and is not bounded by geographical barriers.

6. I am going to try some of these ideas with this fascinating community in this trip itself. That really makes me excited. To be still early in something I think is world changing.

Had a day of layover in Shanghai enroute to US. Got a transit visa, and went in the city.

So just as I was in China, a Chinese government intervention has come in BitCoins market. Thats why the prices fell 20%.

So BitCoins is now running into organized government resistance. Again, this was a factor that I never anticipated. But still, it changes none of my optimism for BitCoins.

A key difference with respect to currency intervention vis a vis BitCoins by governments is they don't control the supply here. So to intervene in BitCoins market, they have to either buy lots of them, or short sell it by borrowing it in BitCoins derivatives markets like Bitfinex or Poloniex. In both cases, they have to cover their sell position. Which means they have to buy it sooner or later. And given that BitCoin has its own secular demand which is rising dramatically, any intervention is going to be defeated in not too much time.

And since I am building a position in BitCoins very very long term Warren Buffet style, I will use this as an opportunity to increase my BitCoins.

I thank the taxpayers of China for giving me a gift of lower BitCoins prices. That too on a day I am in China.

Xie Xie.

 I think dropping everything for BitCoins (just BitCoins) is a great idea. As I just mentioned in one of my previous comments I think it is the best ready new technology as on end of 2016. And riding the best proven new wave in fact should open the doors of super riches for me. I do admit that I am already rich (self made) although not super rich which enables me to do things like these.

Unfortunately I don't have a current Schengen visa or current UK visa on my Indian passport neither do I have any intention of wasting my time on long paperwork for them given that I already have an 10 year US visa which will let me directly board the flight to JFK. If US disappoints maybe I will put in the effort.

Okay unless your super rich this idea seems a bit too much crazy for me... dropping everything for this.

anyways good luck with your adventure.
Even i am from india, currently in Netherlands. Here we can pay for food online with bitcoins as well as there are shops were u get discount if u pay with bitcoins.


also for your adventure look into http://coinfestuk.org/
the organizer is doing some serious work and if ur visiting let me know i will get you in contact with him. even i might go for the event if i have time.

Thanks a lot. Exactly the kind of community support I was seeking. I think this forum is right place for learning and sharing.

You got it right. For gainbitcoin, there is a ongoing thread[1] which is discussing about their business model problem.  Hope this would help you in clearing your doubts.

[1]https://bitcointalksearch.org/topic/amit-bhardwaj-the-gainbitcoin-thief-and-liar-1440600

Thanks for your warm welcome. I actually have no idea what I am going to end up with in BitCoins world. On the basis of my first set of meetings on mining specifically, I think it is a commodity business. Purely competitive market. So I don't think I will end up becoming a miner.

Well there were multiple streams that I was watching like Artificial Intelligence, Big Data, Mass online collaboration systems etc etc etc: And I had checkpoints for each .. BitCoins is turning up to be most exciting of all. 1000 USD was just kind of a pyschological level checkpoint that it has erased the pain of its last boom bust cycle .. And I believe it is now at a point I consider the most revolutionary READY technology among all technologies as on end 2016.

So the only logical thing to do some adventures. Make some random moves. Check out whats out there for real instead of just reading things on internet.

First of all, welcome to the Bitcoin Community.
You won't get good online business in India because people are all over themselves, thinking they know it all and can scam others easily. There is no fixed price from any dealer. As for the US, I don't think there is any real action there, but you will surely get a good backup from your fellow investors. Remember, mining takes into account your time and electricity costs. Make a careful decision which is well planned. Good Luck

Wow this seems to be a real crazy ambitious you have it. Really liked the idea but also on other hand are you apprehend that price will remain above 1000$ itself due to which you have now started touring or the deal  since you could have started this long time back itself rather than waiting for 1000$?

I had made a resolution that if BitCoin prices touches 1000 USD again, I will drop everything and start an unplanned travel chasing different adventures in BitCoins universe. Since the event has happened, I am on.

Start Point: Ranchi, Jharkhand

On 31st December, 2016 flew to Delhi from Ranchi following a lead that some guys in Delhi are selling mining contract from Gbminers/Gainbitcoin. Met them. However we could not agree on a deal because I felt that the returns offered were too high compared to general economics in a competitive business. I do not have any further leads in India.

So I think I got to go where the real action is. United States of America. Flying to New York on 5th January 2016.

Lets see what next bitcoin adventures are in store for me.