Bitcoin Decentral is Toronto Canada's first co-working space for Bitcoin and other disruptive technology innovations. We launched to hundreds of eager bitcoin fans who showed up to drink, celebrate crypto currency and check out our two new made in Canada Bitcoin ATM's.

We want to remind everyone that this is a weekly event, please come by next Wednesday to chat all things crypto - become a part of the Bitcoin Revolution!

BD will provide space for the Bitcoin Alliance of Canada, KryptoKit, CoinTalk, Ethereum, The Toronto Bitcoin Meetup, The Bitcoin Expo 2014: In Cryptography We Trust, and other disruptive technology innovation initiatives and businesses that desire to be immersed in a space with people of like-minds dedicated to Bitcoin and other crypto currencies.

Links

• Bitcoin Decentral
• Bitcoin Alliance of Canada
• CoinTalk
• Vitalik.ca
• Toronto Bitcoin Meetup
• CoinTalk on Facebook

BTC Address: 17oWC9koVAdcWnhVbnJthHofHCKkx1sn6L

Transcript

[00:05] SPEAKER_00: On January 1, 2014, Bitcoin Decentral launched. Bitcoin Decentral is Canada's first co-working space for Bitcoin and other disruptive technology innovations. What you're seeing now is the launch turnout from our January 1st event. Hundreds of people stopped by to check out the first Bitcoin ATM made exclusively in Canada and to get an opportunity in real time to trade fiat currency for Bitcoin and see how easy it is.

So what is Bitcoin Decentral? Well, for starters, it's the new home of CryptoKit, Cointalk, and the Toronto Bitcoin Meetup, and working space for the Bitcoin Alliance of Canada, Ethereum, and many more projects to follow. Finally, Bitcoin Decentral will serve as the preparation space for the Bitcoin Expo 2014, In Cryptography We Trust, which is coming up in April. With over 5,500 square feet and four floors of space, Bitcoin Decentral's goal is to provide the location, services, and tools for disruptive technology innovation initiatives. It'll also provide a home to businesses that desire to be immersed in a space with people of like minds dedicated to Bitcoin and other cryptocurrencies. Let's take a closer look. Here's Anthony Di Iorio from the Bitcoin Alliance of Canada at Bitcoin Decentral.

[01:33] SPEAKER_01: Welcome everybody. I'd appreciate if people could respond on meetup.com because we had like 50 people that said they were coming and we've got over 100 here right now. Meetup.com, go for Toronto Bitcoin and you can RSVP to the events and we come. But I think it's great that everybody's out here today.

About three weeks ago, two weeks ago, I was contacted by this group in Ottawa that said they've been working on a Bitcoin ATM and they were keeping it very low key. I'd been in my head for weeks before that saying I gotta get involved in a Bitcoin ATM project because the other ones that are coming out, there's a company called Robocoin, they were the first ones that launched in Vancouver. I think that they're really expensive and they've changed their pricing strategy to the point where it was ripe for other competition to come into the market. They're American. All the other machines that are out right now are American. And these gentlemen from Ottawa, in a very quick time were able to put together a machine built in Canada, manufactured in Canada, that's going to be extremely competitive, have a lot more features than what the other machines are going to have. And they offered me the first machine and I purchased it.

This was about, I went to see them last week, sometime last week. Last week they drove down today with the machine. They're going to stay for a couple days and we're going to be announced, we're going to be making an announcement at about 8:30. There are going to be some limits and we'll talk about what it's going to be today. And this is going to be a soft launch so we're doing it just for tonight and then in about a week, week and a half we're going to be launching it full. It's a one way machine right now which means you can only buy bitcoins. But very soon it's going to be both ways and that should be in hopefully two weeks, three weeks at most a month.

So I want to introduce Abdul. The name that it's going by right now is Bit Access. That's what they're going on right now and phenomenal team. I've enjoyed working with them so far. They treated me really well when I went to see them in Ottawa and they're going to spend a couple days with me. Now we're going to be talking about some other projects we're working on and I want to welcome you to Bitcoin Decentral. It's a co-working space. It's going to be a complete environment for Bitcoin and other disruptive technologies. We're going to offer temporary space for people, permanent space. We're looking for maybe, we're thinking 50 or 60 people that can have either temporary or full time space.

It's going to be the home for the Bitcoin Alliance of Canada, or office space for the Bitcoin Alliance of Canada, which is a national non-profit organization to promote Bitcoin and provide information for Bitcoin. It's going to be the home for the now called Bitcoin Decentral Toronto Meetup. That's a new name for our meetup group here which meets every single Wednesday. We do four different themed events a month.

It's going to be home for a company that I just launched called CryptoKit, which is an extension for the Chrome browser which is a Bitcoin wallet, a secure messaging system, Bitcoin charts, Bitcoin prices, a Reddit feed, news feedback and what we believe is the easiest, fastest Bitcoin wallet to set up and easiest, fastest Bitcoin wallet to make Bitcoin payments with.

It's also going to be the home to Cointalk, which is a project of Kyle over here and myself. He's the host of the show, this video podcast that we've started. We've got over 11 or 12 episodes. I want you to think of something like the Jon Stewart show is what our intention is to eventually be. It's going to be, we have some nice couches discussing cryptocurrencies, discussing Bitcoin, and he's an excellent host. He's doing a great job so far.

It's also going to be office space for a new coin that's coming out called Ethereum, which is the brainchild of Vitalik Buterin, which is right over there in the corner there. Vitalik is one of the head writers for Bitcoin Magazine. The smartest person, I believe, in Bitcoin, that knows Bitcoin inside and out. The best writer in Bitcoin, and I think just a genius. So he's coming up with a new coin that we think will be Bitcoin 2 or cryptocurrency 2.0. When is it ready? The announcement's going to be made very shortly. There's going to be a fundraising campaign for it. There's going to be a lot more information coming up very soon. We have a lot of the best people in Bitcoin that are believing in what we're doing and what he's doing. And there's no naysayers in what we're trying to offer.

We're adding more currencies on the exchange. So you want to throw it on ours? You should have a discussion with us about that. I want to discuss with you about the ATM and perhaps having Balto Satoshi supplying there. So we'll discuss that.

Right now, the ATM is working one way. It's funded right now not from an exchange. It's personally funded with bitcoins. Right now, we are what we believe the right at the level or below where local Bitcoin pricing is right now. That's where we think is our comparison right now. We're going to have strict limits on what you can get tonight. We want to get as many people trying it, and unfortunately, right now it only accepts 20s as a max. So we're going to have just some smaller limits. But if anybody does want bitcoins the next few days, I've got bitcoins as well, and we can do deals away from the machine as well.

So I want to introduce Abdul, and he's going to introduce his team that have worked on this. And again, thanks for everybody coming. There are Bitcoin magazines that are here that people can buy for $3. That just covers my shipping costs. They send them to me for free. And they just charge me the shipping for them. So if you do want, there's Bitcoin magazines. I think there should be enough for most people if they do want them. And they're three bucks. If you do have one or you want one, just grab one and then give me the three bucks.

[07:04] SPEAKER_02: When you can, you take bitcoins?

[07:07] SPEAKER_01: Sure. But I think for the purposes of $3, this is much easier.

[07:13] SPEAKER_00: Abdul.

[07:14] SPEAKER_02: Okay, thank you. Thank you. First of all, a lot of thanks to him for putting this on. You know, it takes a lot of effort. Basically start something new, right? Something like Bitcoin, where people can laugh at, you know, like, my wife is somewhere around and she's asking, what exactly is Bitcoin? And I'm not able to explain it, right? And she's asking me again. I said, you know, I'll talk to you later on.

So thanks to Anthony. I contacted, I reached out to Anthony like, as he said, two weeks ago, and he wanted to work on a project and he wanted to have a perfect client. Perfect customer is basically what we're looking for. There are people who wanted to buy Bitcoin, but we were not comfortable selling it to them because this machine might crash tonight, right? And because of the demo unit and we wanted to have feedback, we wanted to have a specific niche of people who can give feedback to us and people like you. We can come up and tell you, these are problems. We want to listen to the problem. You can be brutal, right? You can tell the kid, this is your baby. This is ugly, right? We don't want the orange color. We don't like the screen. We don't like this. We want this feature. We are here to listen to those questions so you can talk about that.

My name is Abdul Aseebh. We drove from Ottawa. This is my fantastic team. Like, you know, before, I'm just like, kind of, I don't know how I ended up with you guys. These guys are super smart, right? So I'm just trying to be like, you're attached to them and making sure that I'm a stood. But anyways, we met up at a startup weekend, and then we met up again at an incubator working on separate companies, right? And then we said, okay, you know, and then we meet up at a Bitcoin meetup. And this thing all came up on a piece of tissue paper on a restaurant in an Asian, we used to hear about this story, right? You know, how come they started off, but this actually happened in a restaurant, right? On a Bitcoin meetup.

So then we had been working on this machine for almost four weeks now. And this is the final version. We wanted to give a New Year's present. And all of us, like, you know, I wasn't with my wife, he wasn't with them, they weren't with their girlfriend. And we're working on this machine to just bring it to you guys, right?

So I'm Abdul. I am working on basically business development and kind of strategies and setting a partnership for this company. One of the co-founders of four. This is Mo and this is Ryan and they will give an introduction of themselves and then we'll carry on.

[09:30] SPEAKER_03: Well, we'll keep it short.

[09:31] SPEAKER_01: My name is Mo.

[09:32] SPEAKER_03: I'm doing a lot of the software stuff. Been involved in Bitcoin for quite a bit of time. So if you have any questions about that, direct them to me. This is Ryan.

[09:40] SPEAKER_04: I'm Ryan. So I've been in the payment kiosk space for a few years. So I had a manufacturing capability and knew all about payments. So when Mo and I met, just like after like 30 seconds of meeting, we're like, you know, we should build a Bitcoin ATM. So it finally came that it actually did happen. So we're here tonight and really happy to be here.

[10:00] SPEAKER_02: Our fourth member is missing. Like, you know, he's away from right now, but he'll be joining us soon. He's just away for vacations. New Year's, lucky enough to escape. But yeah. So any question, this is a machine. It's okay for tonight. And it matches with his watch and his phone. Can you—

[10:21] SPEAKER_01: And change my shoes?

[10:22] SPEAKER_02: Yeah, he changed his phone. So this is like all orange, right? So basically I've heard girls and we've—

[10:27] SPEAKER_01: We've got 50 stools coming here. We're going to bar stool and small little tables that'll be lining the walls in the future. And they're orange and white too. So it's gonna have the Bitcoin theme with our sign out there for Bitcoin Decentral. CryptoKit is also orange. So that's gonna be our—

[10:40] SPEAKER_02: Yeah, so I thought the girls are the only one who matches. But you know, right. But anyway, this is a machine. Tonight it won't be doing a lot of transactions, right. If something messed up, these are two guys that you can get hold of. If everything goes good, you can give me a handshake.

[10:56] SPEAKER_01: Right.

[10:56] SPEAKER_02: Thank you for coming here and everybody.

[10:58] SPEAKER_01: I've never used this machine yet, and I'm not gonna be the first person to use it. We're going to do a bid for the first person to use it.

[11:04] SPEAKER_02: Yeah.

[11:05] SPEAKER_01: Now, even though we're going smaller amounts, if somebody does want more than what we're offering here, I can personally do that, away from the machine, but we're going to start the limits, probably the machine. We were thinking of a thousand dollars, but with the amount of people that might want to try it out and do it quickly, and feeding 20s into that is just going to be a pain in the butt. So I think we're going to set a limit at, what do you think, 250? Yeah, let's do like $200 to start right now. But if you want, we can do that.

But if someone wants to honor being the first, we'll just do a bit of, hey, I wanted to buy $1,000 today, or 2,000, we'll do a bid up of, and then whoever has that will do. They can do the first transaction on the machine up to the 250, and I'll come and I can do the personal deal with the person for the rest of it, and we'll do whatever the price is that's showing up there. We're using comparable price with local Bitcoin. So last I checked, it was around $830. And I think that's Mt. Gox plus a couple percent. I think that's what it kind of works out to.

But we compare to local bitcoins. If you want bitcoins right away, you can't use the exchanges right now. You have to go find someone on local Bitcoin. So that's what we think is the fair comparable prices to someone who is ranked and has good feedback on local Bitcoin, not just some other people that don't have any feedback yet. So that's what we're doing right now.

So can I just see a show of hands of anybody that does want to use the machine or buy bitcoins today with it? 2, 1, 2, 3, 4, 5, 6, 7. Does it only take 20s? Max is 20.

[12:26] SPEAKER_02: Yeah, max is 20.

[12:27] SPEAKER_01: So it only takes 20? Yeah, yeah, that's right. I'll do any, I'll do any amount. Somebody wants to be the first, but I'll do whatever. Okay.

[12:43] SPEAKER_03: And one last thing. Anthony has been the executive director of the Bitcoin Alliance of Canada for now, I think, what, five, six months. He pulled together a bunch of people who didn't know each other, didn't know anything about Bitcoin, and he brought them together and made what I think is probably the most influential alliance in Canada for Bitcoin. And I'm very proud to be a part of it. I'm proud to call you out.

[13:11] SPEAKER_01: He's a board of directors with me as well, with the alliance too.

[13:13] SPEAKER_03: I am a director, but this isn't about me. This is about you putting together all the resources to get this space, to get this ATM here and to build a home for the Bitcoin Alliance of Canada. And on behalf of the alliance and on behalf of all the companies here, such as my own Bitcoinsultants, I want to thank you and cheers you with some—

[13:34] SPEAKER_02: Thank you.

[13:35] SPEAKER_01: We've got two big bottles of champagne too.

[13:47] SPEAKER_03: Thank you, Anthony. The other one for Nancy.

[13:56] SPEAKER_01: Thank you. We're gonna have two big bottles of other champagne coming out too, so. We're gonna start again. Again, the machine will go to 250. That'll set the limit per person. But if you want to buy a thousand, you want to buy 2,000, you want to buy 5,000? We'll do a bid right now. We'll do an auction. Okay, so whoever's gonna be the first on the machine. So can I start up at $100? Okay, $200. Gentleman in the back there.

[14:26] SPEAKER_00: Okay, three.

[14:27] SPEAKER_01: $300. Three. Okay, $400. Anybody buying $400 of Bitcoin tonight? I really need Bitcoin. I can't find it anywhere. All right, so 300 going once, 300 going twice and sold to—

It's, it's. So here we are at the end of the first Bitcoin Decentral meetup in Toronto. It's January 1st. This is a great New Year's present. We had the Bitcoin ATM launched today. We had a lineup down the wall there. And the latest people have just arrived now is Paul and Vinny who just announced to us that they've got engaged. And they first met at a Bitcoin event in Toronto when Michael Terpin of BitAngels was in town doing some talks. And they've since come to the meetups over the last few weeks. And I've got to know both of them. I sold Vinny her first bitcoins, and Paul, I think, helped her out to get her wallet set up and get things established. And I just found out today that they got engaged. So the last three weeks they've been on vacation.

So, congrats on this for you guys. Thank you. Thank you so much. And fantastic job, Anthony, building up Bitcoin in Toronto. It's very exciting. And she's actually helped us out with CryptoKit as well. She's actually gone through the models and the way that we were portraying the customers, how to do the step by step and what to do, and she was integral in that as well. So she was very helpful. And Paul's been very helpful and volunteering his time for. He helped us with the alliance. He's helped out with the meetup. He's been, you know, amazing. And then you disappeared for three weeks. You're back now, and I hope you guys keep going full. So excellent.

[17:59] SPEAKER_02: Congratulations.

[18:00] SPEAKER_01: Thank you so much. Congratulations.