BitClub Johannesburg Archives

Suddenly, people are starting to talk about bitcoin. It’s all over the internet – with articles that are ebullient and some, that for whetever reason, are less so.

You’re either a believer or you’re not. Is it a fad? Or is it the real deal?

I’m just an advertising guy (and a biased one at that, in that I’m an ardent proponent of the currency) so what do I know?

Only the following, after spending some time this past week with a person who has a deep understanding of crypto-currencies, and who was in South Africa to meet with interested local parties – the American co-founder of BitClub Network, of which I’m an active member:

Bitcoin is currently used by a minute percentage of the global population, but is already priced at around US$740 per bitcoin (BTC).

The price of bitcoin is projected to go a LOT higher over the next few years. (With a fair bit of volatility on the way)

Bitcoin is being kept an eye on by Governments and banks around the world, who are trying to understand the implications of a quick and easy means of payment between individuals that can’t be controlled.

Bitcoin provides an incredibly inexpensive means of paying another person.

It is already accepted by more than 200 000 establishments in the US.

It can be used to purchase anything – from a coffee at Starbucks to airplane tickets on Emirates to a castle in Scotland.

Transactions are all recorded on the Blockchain, which is a public ledger open to all.

Bitcoin wallets can be opened by anyone at any time and cost nothing to open. In South Africa, a wallet can be opened on www.localbitcoins.com, www.altcointrader.co.za and www.bitx.co.za

One can easily buy or sell the crypto-currency on any of these platforms.

Some people who DO know about bitcoin include:

Virgin’s Sir Richard Branson.

Founder of Microsoft, Bill Gates.

Ex US vice-president, Al Gore.

CEO of Google, Eric Schmidt

Venture Capitalist and founder of Netscap, Marc Andreessen.

Founder of McAfee, John McAfee.

Former CEO of Paypal, David Marcus.

Co-creator of Facebook, Tyler Winklevoss.

Well-known entrepreneur, Eric Voorhees.

Former Chairman of the US Federal reserve, Ben Bernanke.

Here’s what they have to say about bitcoin.

Sir Richard Branson “Virgin Atlantic is a bold entrepreneurial technology. It’s driving a revolution and bitcoin is doing the same when it comes to inventing a new currency” “

Bill Gates “Bitcoin is a technological tour de force” “

Al Gore “I think the fact that within the bitcoin universe, an algorithm replaces the functions of Government, is actually pretty cool” “

Eric Schmidt “Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value” “

Marc Andreessen “At our venture firm, we continue to see an escalating stream of fascinating new bitcoin uses, cases and applications from entrepreneurs”

John McAfee “ You can’t stop things like bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust“

David Marcus “I really like bitcoin. It’s a store of value, a distributed ledger. It’s a great place to put assets” “

Tyler Winklevoss ‘We have elected to put our money and faith in a mathematical framework that is free of politics and human error“

Eric Voorhees “Economists and journalists often get caught up in this question: why does bitcoin have value? And the answer is very easy. It’s useful and scarce”.

Ben Bernanke “Bitcoin may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system” “

I don’t know about you, but I’d rather take a cue from people of this calibre than a broke next door neighbour who tells me that bitcoin is a fad and that I should stay clear of it.

Another clincher for me is something the co-founder of Bitclub Network pointed my attention to on the site blockchain.info – the number of reputable global firms and institutions that are actively – and currently – funding blockchain and bitcoin start-ups. One of which is The New York Stock Exchange, which for the first time in its 200 year history, is putting money behind an entity that is NOT listed.

Now THAT is interesting….

Naspers too.

Interesting again…

Gerard Kavonic is an experienced copywriter, conceptualiser of advertising ideas and co-ordinator of marketing projects, running a small – tiny – advertising agency in Johannesburg. He is also an ardent proponent of bitcoin and is an active member of BitClub Network. He can be contacted on 083 444 9888 and emailed on [email protected]

Started eight months ago by a lady in Johannesburg who had heard of bitcoin (BTC) and was intrigued by it, BitClub Network South Africa is growing in leaps and bounds.

Whereas the first few meetings were (predictably) not that well-attended, these days there’s scarcely a seat to be had in the weekly BitClub Network presentations. This is partly due to the magnetism of the lady in question (the hardest worker I have EVER encountered) and partly due to the interest in bitcoin. Not that people understand it, of course….

Bitcoin is an interesting concept, and it’s one that people either choose to embrace or stay away from entirely. (Those that do the latter in all likelihood feel that it’s not something that they will ever quite understand, and if they can’t understand it, they’ll stay away from it. Which is all well and good. Some people are more open-minded than others and this will always be the case).

So what is bitcoin (BTC)?

Bitcoin is the first decentralised digital currency that works peer-to-peer without needing a bank or central repository. It’s a global currency that uses a public ledger to record transactions being sent from one person to another. This all happens without the involvement of a bank and it’s not controlled by any government, regulating body or person. All transactions are completely transparent and thousands of copies of the ledger are kept across a distributed network of computers.

It’s a currency that nobody can control and it’s for this reason that it is generating the kind of interest that it is. Bitcoin works a lot like cash in that you receive it instantly when it’s sent and once you have it, you have it. This makes bitcoin a truly revolutionary peer-to-peer system that is designed to get even better as more and more people start using it.

Still confused? That’s fine. All you need to know is that it works, it’s legal and it’s the way of the future!

In the meantime, here are some of the questions most often asked:

Is BTC not used for illicit activity?

The answer is that whilst it has been used for sporadic illicit activity in the past (for purchases of drugs in the US, for instance), so too has the US dollar and other fiat currencies. The sad reality is that we live in a world of dishonesty, criminality and corruption and bitcoin’s ease of use is sometimes taken advantage of. On the positive side, a good 98% of bitcoin usage is ethical and honest.

Is BTC not MMM?

ABSOLUTELY NOT. (I put this in capital letters to knock this misconception on the head!!). Whilst MMM made the headlines for all the wrong reasons, the only reason why bitcoin is sometimes associated with MMM is because MMM allowed payments in bitcoin. Bitcoin is a currency. It has nothing to do with MMM.

Where could one spend bitcoin?

If you were in the US, for instance, you’d be able to spend BTC in thousands of places, and for a multitude of things – from a coffee at Starbucks to an airline ticket to London. In South Africa, we’re at the very early stages. As things stand, you could make purchases on, for example, BidorBuy using bitcoin. And you could pay people, using BTC. In time, you’ll be able to buy pretty much anything. In fact, if you apply for a Visa Xapo card from http://www.xapo.com/ you could load your bitcoin onto the card and use the card for purchases from Woolworths, Pick n Pay, Edgars or wherever you want, right now.

There’s tons of information on bitcoin on the internet, so if it’s of interest to you, check it out.

But back to BitClub Network.

A global wealth-building platform for the digital currency market, BitClub Network allows people to earn profits from its shared mining pools. There’s also a referral program through which members earn by introducing other people and building their teams– network marketing, in other words (but NOT a pyramid scheme!!!).

It started about two years in the US and was then taken to Malaysia, where it just exploded. (In terms of people joining). From a post I saw yesterday, I see that it’s now taken hold in South Korea, and other countries in SE Asia.

Having met with the co-founder when he was in South Africa two months back, and due to my working closely with the person who brought it to South Africa, I know that the plan is to grow BitClub Network across South Africa, and then, to launch it into Africa.

Things will go (grow) quickly, and already, people are joining in Kenya, Zimbabwe, Zambia, Uganda, Nigeria and even Dubai.

BitClub Network South Africa’s offices open in Johannesburg next month. So, things are happening at pace, and people who can afford to, are joining in numbers.

The cost to join is US$99 and to buy a share in the cheapest mining pool is US$500. So if you’re interested, you’d need a minimum of US$599. A good investment, in my opinion. There’s more info on http://www.bitclubnetwork.co.za if you’d like to visit.

On my side, I’d be happy to meet with anyone interested – assuming they’re in Johannesburg, of course!

Gerard Kavonic is an experienced copywriter, conceptualiser of advertising ideas and co-ordinator of marketing of projects. Based in Johannesburg, he runs This country’s smallest ad agency, Kavonic Hone. See www.kavonichone.co.za He is also involved in the launch of Bitclub Network in South Africa. See www.bitclubnetwork.co.za He can be reached on 083 444 9888 and on the following email addresses: [email protected] and [email protected]

Tag Archives: BitClub Johannesburg

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