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Staff Thoughts

What’s the exchange rate for BipCoin to Zimbabwe dollars?

Yeah, that just happened.

Incredible. I can not believe it. A man who mined THE BipCoin walked into the Bitcoin Shoppe and asked if he could use them to buy merchandise. Where else on Earth (or Alpha Centauri) would the answer be YES?

We were prepared to accept his BipCoin at a rate of 0.01 USD per BipCoin, but he did not bring his coins with him. He had some Bitcoin Cash, though, and decided to use (perhaps) the world’s best money to purchase the world’s worst: Zimbabwe Dollars. Wow. Such amaze.

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Staff Thoughts

Erik Voorhees and Peter Schiff Debate

ReasonTV just uploaded the July 2nd debate between well-known investor and economic commentator Peter Schiff and Erik Voorhees, the CEO of Shapeshift. The debate question was if Bitcoin or a similar cryptocurrency would replace government issued fiat currency. The link is provided below it’s definitely worth a listen. Peter Schiff has done great work in calling out the 2008 economic crisis and believes fiat currency is harmful, but doesn’t quite seem to get Bitcoin.

https://reason.com/blog/2018/07/19/bitcoin-future-money-debate

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Staff Thoughts

2 Curious Customers Learn About Ethereum

Here at the Free State Bitcoin Shoppe we had 2 curious customers who wanted to learn a little bit about our funky apparel! Come by and check out some merchandise for yourself!

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Staff Thoughts

New Item: 3D Printed Chess Set

Come check out one of our newest items printed locally in the Seacoast area, and now sold at the Free State Bitcoin Shoppe.

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Staff Thoughts

Bitcoin & Ethereum Watches

How to show your love for Bitcoin or Ethereum right on your wrist!

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Staff Thoughts

Gold-Backed Tokens: Overheard in the Bitcoin Shoppe

A regular at the Shoppe mentioned something cool today. It’s an Ethereum token redeemable for physical precious metals. How? Well, the company hasn’t explained that yet. According to their website, they are first seeking permission from various “authorities” where they plan to serve customers.

Their website says Coming Soon, but the last update was from 3 months ago. Here’s a more recent Medium article about the token. The price is currently $0.14

Another guy came in today who just moved to Nashua and is hardcore into mining. He told me about TurtleCoin. It’s a hard-fork of Monero and he seems to think it’s worth mining because it’s so easy and you can exchange it for BTC. I set him up with a Dash wallet so he could spend it around Bitcoin Village, and he was really happy to buy a Monero shirt. He used Verge to buy it! That’s the one coin that PornHub accepts for payment. Pretty interesting.

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Staff Thoughts

CNN Covers Free State Bitcoin Shoppe, DASH in Portsmouth New Hampshire aka Bitcoin Village

I still can’t believe it. I just watched this video by CNN about a New Hampshire man who is able to live his entire life on cryptocurrency. I’ve come close, but he’s got even me beat. Truly an impressive feat. To learn his secret, watch this video:

Amazing, Joël. Brilliantly done. You are welcome at the Free State Bitcoin Shoppe anytime! To level up your crypto game, attend the next Portsmouth Bitcoin Network meet up. Or if you’re super-serious, enroll in the Blockchain Institute of Technology.

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Staff Thoughts

Portsmouth Smoke and Vape | Bitcoin Preferred

The crypto-economy grew a little bit larger today when the popular downtown shop Portsmouth Smoke and Vape started accepting Ethereum, Dash, ZCash, Litecoin, and Bitcoin. Customers can now buy all the glass, incense, vaporizers, cleaning kits, tobacco products, e-cigarettes, and accessories they could possibly want — all using digital cash.

They sell online too, so if your current local shop won’t take your litecoin, consider getting your items sent right to your house instead by buying at their website! You can keep the same privacy you would get from a cash transaction as your local shop, plus you get the advantage of online shopping.

My partner and I learned that the owner was looking to take bitcoin due to increased demand from customers asking if they could pay in the digital currency. He thought it was a great idea and stopped into our shop to ask how he would get set up to take it as payment. We met the next morning, and it took less than an hour from start to finish. All it took was downloading an app and clicking through a few prompts to set up 5 different secure digital wallets. Now his business can take payment in 5 popular cryptocurrencies.

One cool and unique thing about the way they set it up is that the owner linked his store’s crytpo wallets with his phone. That enables him to see when a payment has come in, no matter where he is, plus he can then send the coins to a secure wallet that employees can’t access. Try doing that with a traditional cash register!

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Meetups Staff Thoughts

Bitcoin Meetup | Oar House

Last night’s bitcoin meetup was awesome. There were 12 people — the largest one yet! All different ages, backgrounds, and experience levels. There were a lot of Free Staters at this one — they were in town visiting the Bitcoin Shoppe and stayed to attend the meetup afterwards.

Some conversation topics included: “What are blockchains?” “What are miners?” “Who are nodes?” “What’s a masternode?” “Who decides who the nodes and miners are? Are they voted in?” “How do hardware wallets work?” “Is it more worth it to mine coins or just buy and hold?” “What’s the difference between Bitcoin and Ethereum?” “What’s the difference between Ethereum and Dash?” “What’s the difference between Dash and Bitcoin?” “How do you start mining, and what coins are worth mining?” “How do you set up a trading account to trade between bitcoin and other cryptocurrencies?” “How did you get into Bitcoin/Ethereum?”

Lots of conversation! And those were just the questions I heard on my side of the table. Because it was a lot of people and a large table, there were multiple conversations being carried on at once, rather than the typical meetup which has one continuous conversation with one person talking at a time. This was different.

The service was excellent, by the way. Our server came around at all perfect times for drinks, apps, main course, refills, answered questions, and at the end, was able to split the checks in any combination we asked for, instantly. She was terrific, I wish I could remember her name to pass the praise along. Kate, I think. Anyway, it was my first time at the Oar House, and usually during a meetup I like to talk to the manager or owner about accepting bitcoin, but this meetup didn’t lend itself to that since conversation was already challenging at our own table. The volume of the restaurant was pretty loud. I think it’s better to have those conversations with owners one-on-one or with a small group.

Next meetup is Saturday, 3-4pm at Lazy Jacks. Here’s the Meetup event and the Facebook Event so you can RSVP. See you there!

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Staff Thoughts

Dollars Not Accepted, Free Staters Bet on Bitcoin with America’s First “Crypto-Only” Retail Shop

Although the new store opening today in Portsmouth, New Hampshire may appear to be another small town gift shop, it is the first store of its kind in the world. “We’ll take any crypto-currency: Dogecoin, Dash, Ether, Bitcoin…but no dollars, thank you,” says Steven Zeiler. He and Derrick Freeman are co-owners of Free State Bitcoin Shoppe, a “crypto-only” retail store – located at 56 State St.

“We believe it’s better money,” says Freeman, “and our mission is to help Portsmouth transition to an inflation-proof currency that’s publicly accountable.” Unlike dollars, there is a fixed amount of bitcoin. Similar to gold, bitcoins are divisible and used all over the world.

The store’s first customer was a tourist visiting from Vietnam. “There’s a big bitcoin market there,” she said. She paid from a wallet on her mobile phone and didn’t need to convert currencies.

The governments of Japan and South Korea officially recognized bitcoin as legal tender earlier this year, causing a huge increase in adoption. At the same time, the New Hampshire legislature passed a bill deregulating all digital currency in the state, encouraging entrepreneurs to move here and for tech startups to break ground in the Granite State.

Zeiler left a lucrative job as a developer at a Silicon Valley company to move to Portsmouth because, he says, “the people of New Hampshire are way ahead of the game in terms of sound money and adoption of bitcoin, and obviously Portsmouth is the coolest part of New Hampshire.”

The store sells unique crypto-themed gifts, seditious books, libertarian art, pro-science t-shirts, and loads of “Live Free Or Die” propaganda. They also offer Premium WiFi and cold brew coffee that’s locally produced in Portsmouth for those who want to hang out and get some work done by the park, or just enjoy one of their many bitcoin-themed movies in the air conditioning.