Satoshi Nakamoto is reported to have insisted acceptance of his invention hinged upon its use as a currency, a functioning instrument of daily trade. To this end, more advocates are taking to public competitions to spread the message of cryptocurrency power.
Bitcoin 20/20
With the world’s most popular cryptocurrency approaching 6000 USD in price, and its market capitalization surpassing that of one hundred and fifty year old legacy banks such as Goldman Sachs, it does appear bitcoin has won hearts as an asset class and speculative investment. But if mainstream media accounts are to be believed, it’s mainly a bunch of crazy geeks hoarding tulips.
For years now, however, people have been living off of it. They’re paying rent with it, buying gifts, coffee, and generally enjoying the freedom of being their own bank. That personal experience, the feeling of receiving and sending currency peer-to-peer, has to be had in order to fully appreciate Satoshi’s innovation.
These regular occurrences do not earn headlines as easily as price fluctuations.
In that vein, UK’s Adastra Marketing has decided to participate in a competition to see which payment system and currency can last over two borders and thousands of miles. It’s a strategy to promote their company, of course, but also to bring more attention to bitcoin as a medium of exchange.
One Woman, Many Miles
Director of Marketing, Amelie Arras, is a passionate bitcoin advocate.
In a company newsletter, she insists, “It may still be seen by most consumers as an investment rather than a method of payment, but hopefully perception and acceptance by merchants is starting to change.”
The rules for her participation include only using bitcoin through wallet payments, no converting to cash, including atms and personal loans/gifts, no prearranged travel booking, and daily blog updates.
If she completes the task successfully, she’ll be the first independent woman to have done so — not a small point considering how perceptions of cryptocurrencies include it being a male-dominated interest.
“I’m really excited to be part of the race,” she wrote, “and to have Bitcoin as my payment method.”
Over seven days, she’ll have to purchase everything, food, accommodations, etc., within these rules. The race begins in Toronto on the 18th of this month, and it includes unknown challenges along the way.
Participants will end their travels at a large financial technology conference, Money 20/20 in Las Vegas.
Money 20/20 will host race participants in a panel to discuss their trip in more detail, and breakout sessions include talks about bitcoin in particular and China’s crackdown.
“I am determined to win the race!” Ms. Arras exclaimed.
Follow her progress via Twitter.
Are competitions like these important to get the word out about using bitcoin as opposed to just speculating on its price? Tell us in the comments below!
Images courtesy of: Twitter, coinmaps, Adastra.
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