Coinify and the Wow Feelings in First Time Bitcoin Users

Earlier this March a Coinify’s Account Manager tried to survive an entire month just using Bitcoin in the Danish capital city of Copenhagen. Differently from last year attempter, whom managed to last 10 days, he made it.

His company, Coinify works to spread the use of Bitcoin especially in Denmark. Coinify states that it “takes an unconventional approach to mainstream the digital currency” and this social experiment by employee Jack Nikogosian is definitely a good example of alternative methods to grasp more insight on where and how Bitcoin is currently used in Denmark and how to spread its use.

However, this experiment was not part of a marketing plan, rather an act of pure curiosity. In his early blog entry announcing his plan to exclusively use Bitcoin for a full month Jack stated he will  “promise to find a way to show up at work, not to starve to death, and to manage to have fun as well.”  He had the possibility to use its Bitcoin at Palæo and hungry.dk as well as getting a tattoo or gathering a bunch of people for a Pub Crawl around Copenhagen in pubs which are accepting Bitcoin.

A step back: What is Bitcoin?

Bitcoin is the only virtual currency used on the Web, and subject to exchange rates led only by the mechanisms of supply and demand. It is transmitted just like an email and its authenticity is guaranteed by complex algorithms. Bitcoin uses peer-to-peer technology to not operate with any authority or central banks: the management of transactions and the issuance of Bitcoin is carried out collectively by the network. It is therefore the first global economy. Distance does not matter: transactions are instantaneous and there is no extra cost in exchange rate fee.

It could all sound quite complicated and left therefore to a geeky niche audience.

“It all started as a project supported by super geeky people but it is turning more and more mainstream, as people can see its benefits. In the first year, 50 new businesses joined the Bitcoin’s venture, and more and more are starting to recognise its potential. If there is a demand, there will be the need to hop on board. Electronic stores will definitely profit from joining as their segment is clearly influenced by Bitcoin, and PSP will have to include this payment as well,” says Nikogosian

With this month experience, Jack Nikogosian figured out that skepticism over Bitcoin is quite easy to unravel. He had the chance to speak with non Bitcoin users during a Bitcoin Pub Crawl.

“People were purely interested. When talking to people whom are not using Bitcoin, in regards of Bitcoin itself, it is amazing to see how some questions are the same that people asked when internet was started. But afterword they can see the benefits of using it. It was amazing to see the reaction of first time Bitcoin users, there is an irreversible wow feeling in their faces!”

Bitcoin has the privilege to work on the existing technological environment not needing extra satellites nor new platforms. The existence of the current global infrastructure system facilitates its diffusion which can only lead towards an exponential growth of this revolutionary virtual currency.

Coinify works to spread the use of Bitcoin and provides services for everyone to accept Bitcoin payments, and to buy and sell with Bitcoin. If you also got caught up and want extra info regarding the possibility to use it in Denmark, you should just drop by their site.