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Top quotes from Rise and Rise Stars, Where are they now?

After garnering all the hype and attention, the documentary ‘Rise and Rise of Bitcoin’ did make a significant impact. Carefully targeted at average audience, the documentary goes through the journey of Bitcoin from its inception and makes the point about how the currency is here to stay.

The Rise and Rise of Bitcoin

Daniel and Nicholas Mross share the experience of an early Bitcoin adopter who has stuck with the world’s first major cryptocurrency. Through his journey they portray how the rise of Silk Road, fall of MtGox, and all of the other craziness in the industry couldn’t stop Bitcoin. For many critics the movie seemed to be a quick crash course on Bitcoin, beautifully captured over the limited time frame. It features few prominent personalities from the Bitcoin world sharing their experiences and elaborating select moments. Let’s look into few Top quotes from the movie and what they are doing today:

Gavin Andresen, Bitcoin Developer

“I really couldn’t convince myself that it would not work…Since then, I’ve been sucked down the rabbit hole.”

Gavin Andresen is the lead programmer currently on the Bitcoin Ecosystem. He was one of the few people who ventured out into the ‘Bitcoin Project’ and helped to turn it into a Billion Dollar Project today. When asked about why he chose this path, he says that he couldn’t convince himself that Bitcoin wouldn’t work. Hence he never turned back from the day he started. After several years working on the software, Andresen left the role of lead developer of bitcoin to work on the strategic development of its technology.

Charlie Shrem, CEO BitInstant

“I don’t know how the government will react to Bitcoin. But I spend thousands of dollars on lawyers every day just to make sure that I’m not going to go to jail.”   

Charlie Shrem was the founder and chairman of BitInstant a pioneering start up in the field of purchasing bitcoins. BitInstant is a more user-friendly company that charged a fee for users to purchase and make purchases with bitcoins. The facility was prevalent at over 700,000 locations, providing temporary credit to speed up transactions. Ironically Shrem was sentenced to two years in prison for aiding and abetting the operation of an unlicensed money-transmitting business related to the Silk Road. He was later released in 2016 and currently  is a business development consultant for payments startup Payza.

Brian Armstrong, CEO Coinbase

“I would not be surprised if Google, Paypal and everybody else is planning to add Bitcoin in a couple of years. By that time there should be 50 million wallets.”

Brian Armstrong, CEO and co-founder of Coinbase, has always had his eyes set on a career in Tech. His first job out of college was at Deloitte & Touche as a senior software engineer at Armstrong was captivated by the idea of Bitcoin during Christmas 2010. But there weren’t many transaction places for bitcoins yet. Thus, from Bitcoin came the idea for Coinbase, an international digital wallet that allows you to securely buy, use and accept bitcoin currency. Armstrong lives in San Francisco, CA with Coinbase operating healthily.

With iPayYou, It’s Getting Much Easier To Buy Stuff on Amazon Using Bitcoin

Bitcoin investors, traders, and stakeholders would be heading out for the Thanksgiving holidays with a piece of good news today. iPayYou has just announced a way for consumers to buy items on Amazon using Bitcoin through  a service called Amazon Direct. Amazon Direct makes it easier to shop on the world’s biggest online store for everything using Bitcoin.  More so, the service is another step forward in the bid to make Bitcoin the default currency of the world.


Here’s how to shop on Amazon using Bitcoin

Now, you can shop on Amazon using iPayYou – you can easily transfer any amount of Bitcoin from your BTC wallet to Amazon. With Amazon Direct, all you need to do is to transfer your Bitcoin to the required account and voila, you’ll have USD in your Amazon account to spend when shopping. The launching of Amazon Direct at this time is strategic and it will meet the needs of shoppers just in time for the holidays.

The National Retail Federation has forecasted that U.S. shoppers will spend an average of $935.58 during this year’s holiday season. The average spend by shoppers in the 2016 holiday season is 3.6% more than the average spending in the 2015 holiday season. More interesting is the fact that the federation submits that online sales will increase by 10% this year to $117 billon. A decent part of that holiday spending can now be spent using Bitcoin through Amazon Direct.

Gene Kavner, the current CEO of iPayYou is a former worldwide director at Amazon and he knows the right doors to knock. In a press release, Kavner observed that “during my time as an executive at Amazon, we closely studied the friction points and obstacles faced by shoppers, including and especially with payments. Bitcoin is a solution to so many of those problems. That’s why today, in time for the holiday season, we’re launching the most direct way to spend bitcoin anywhere, starting with the world’s largest retailer.”

Here’s what happens under the hood with Amazon Direct

From the foregoing, it is obvious that Amazon Direct provides simple way to shop on Amazon using a Bitcoin wallet. Most users won’t really know about the heavy lifting that goes on under the hood before they can shop on Amazon with Bitcoin. Here’s what we know about what goes on under the hood of Amazon Direct.

To start with, Amazon Direct works because iPayYou purchases digital gift card balances through a Washington-based firm called ACI. iPayYou then transfers the balances on the gift cards it purchased to your personal Amazon account. Of course, you won’t even know that gift cards were involved in operation of Amazon Direct unless you check through your transaction history on Amazon.

iPayYou however goes a step further to ensure that the value of the USD balance in your Amazon account fluctuates in line with how Bitcoin (BTC) trades in the market. iPayYou is working on  solution to lock in the USD-BTC conversion balance for users who would prefer to have a fixed dollar amount in exchange for their BTC. However, for now, the value of the Amazon balance will fluctuate with Bitcoin prices when you use Amazon direct.

Nonetheless, Amazon Direct remains the best solution for shopping on Amazon with Bitcoin. iPayYou CEO, Gene Kavner observes that “We’ve removed a lot of complexity compared to other options… We actually transfer funds from iPayYou’s bank account to Amazon. They don’t even know it’s bitcoin.”

iPayYou and Amazon – Bitcoin Becomes Useful