How The Bitcoin Revolution Will Affect Entrepreneurs

It’s been dubbed digital gold for Millennials and anybody else with a sense for good investments. Virtual currencies like Bitcoin are revolutionizing how we make transactions and interact with our global financial system. These unconventional and futuristic currencies are changing our financial world in ways we are just now beginning to grasp.

Entrepreneur Troy Osinoff thrives on the unconventional, and he has long seen the potential that Bitcoin has on how we do business. Osinoff got his start making websites for local businesses at the age of 10, and continued to build his career creating various startups, such as MakeAGIF.com (acquired). From there, Osinoff has written a book (sold to Fox in late 2017), funded various companies and advised a variety of startups.

His large network of websites and social channels reaches millions of users every month. He follows the Bitcoin and digital currency market closely, sometimes tweeting snippets of advice, such as when dips in the market make it a good time to buy.

Osinoff recently sat down with me to explain why savvy entrepreneurs won’t let the Bitcoin revolution pass them by. His insights crystallize the importance of digital, decentralized currencies like Bitcoin, explaining how they fit into the larger trend of globalized decentralization and how you can better navigate these digital currencies.

Deep Patel: Can you explain Bitcoin, altcoins and blockchain in simple terms for readers?

Troy Osinoff: Bitcoin is essentially a type of currency that is purely digital. It’s decentralized, meaning there is no central authority that regulates a bitcoin’s worth or how many bitcoins exist. Bitcoin’s price is dictated by the market, and the reproduction of bitcoins is built into its programaning