What is CoinFest?
CoinFest in Vancouver is back on Feb 20 to 22, 2015, an annual event organized by The Bitcoin Coop. The Fall is Canada’s first tattoo parlor to accept Bitcoin and also Vancouver’s first art gallery to accept Bitcoin, making it a prime location for CoinFest 2015 in Vancouver. While CoinFest is intended to be fun and accessible to people of all means, for those looking for a more exclusive event, come to Francesco’s, where the Bitcoin elite will dine on some of the finest dishes available for BTC. Liza J. Lee, Principal & Artist of LJL DECOR has offered to sponsor the CoinFest charity venue.
On Sunday, the CoinFest conference will likely be held at the Sandman Hotel, the first hotel group to accept Bitcoin. The group operates 44 hotels across Canada where guests can now make bitcoin reservations at every one of them. Look for Liza at the DA Top Talent table at the Vancouver CoinFest conference, for a unique networking opportunity for the crypto-currency community. Douglas Anderson (DA) of DA Top Talent is a business coach for startups and small business owners, specializing in financial services companies and franchises.
For more details for the Vancouver CoinFest on Feb 20 to 22, 2015, visit CoinFest.
What is Bitcoin?
Bitcoin is a virtual currency created in 2009 by an unknown person or group, using the alias “Satoshi Nakamoto”. Bitcoin uses peer-to-peer technology to operate, with no central authority or banks. The managing of transactions and the issuing of Bitcoins is carried out collectively by the Bitcoin ecosystem.
Bitcoins are stored in a “digital wallet,” on a virtual bank account that allows you to send or receive Bitcoins, pay for goods or save your money. Unlike bank accounts, bitcoin wallets are not insured. However, there are no transaction fees and no need to give your real name. Though each Bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only wallet IDs, which keeps all transactions private. In Canada, merchants are required to report their Bitcoin-generated income to Canada Revenue Agency.*
* In November 2013, the Canada Revenue Agency issued a statement clarifying the tax treatment of Bitcoin. The statement is a brief outline, which states that tax rules apply when Bitcoin is used to pay for goods and services in the same way the rules apply for barter transactions.