Thu Nov 19, 2015 9:59 pm

Hi Jonathan,



Congrats on closing the seed round. I don't own any bitcoins yet, but it seems to be an exciting opportunity. I'm kind of a traditionalist though with my finances and hesitant to take chances of course with new ideas/concepts when it comes to my personal finances..can you tell me, what bitcoins are (there seems to be a lot of stuff to sift thru out there) and what Bitwage can offer me in terms of advantages that I am not getting with the way I am currently receiving my salary from my employer? Oh...by the way...I often travel for months at a time for work b/c I am a contractor for Uncle Sam. Thanks in advance for your answer...fascinating stuff here for sure!

To make a very long answer short, bitcoin can either be looked as a currency or a payment protocol. As a currency, think of it as digital cash. As a payment protocol, bitcoin removes the need for many of the intermediaries within the correspondent banking system, creating speed, cost and transparency efficiencies. To dig deeper into learning what Bitcoin is, the main website of bitcoin.com is a great resource for the basics. I suggest checking out the "Learn More+" section. Once you have done some digging, I suggest taking a read at the original white paper by Satoshi Nakamoto: https://bitcoin.org/bitcoin.pdf Bitwage does two things. The first is that we allow anyone to receive a bitcoin wage regardless of whether or not their employers signs-up as a client of Bitwage; we called this product Bitcoin Payroll for the Individual. The second is that Bitwage makes international wage payments to employees, contractors and freelancers faster, cheaper and more transparent than the existing traditional legacy banking system (a system which unfortunately has not improved on its’ antiquated system of sending payroll internationally that routinely loses track of wires due to the inefficiencies of the multi-tiered correspondent banking system).People sign-up for our Bitcoin Payroll for the Individual service because our system is the easiest way to dollar-cost average their purchasing of bitcoin. Bitcoin's current market cap is about 5-billion, whereas a company like PayPal is 44-billion. Many in the Bitcoin Industry, myself included, believe that the price for one bitcoin versus national currencies is going to be worth a lot more than it is now. From this benchmark statistic, it stands to reason that there is a lot of room for bitcoin to grow, and that dollar-cost averaging sets-up private investors perfectly to ride this wave of growth.Our second product is a full end-to-end bitcoin-powered wage solution that enables both the employer and their workers to send and receive their pay in local currencies. In early February, we released our first international payroll solution, the fastest and cheapest way of paying employees, freelancers and contractors, without the use of floating funds, from the U.S. to the Philippines and our now sending payments to countries all over the world, such as Mexico, Brazil, Argentina and around Europe. Part of this solution is a cloud savings solution that allows anyone to receive their wages regardless of where they live, in one of 24 different currencies and 4 precious metals. Connected to this, is a debit card, which can be shipped to over 170 different countries. So as a contractor you can easily receive your funds anywhere in the world from US clients, who won't have to sign up and will save money sending to us, and then access those funds almost anywhere.Since our launch our service has gained acceptance and a loyal following; we have helped contractors, freelancers and employees receive their wages from companies like Google, Microsoft, GE, and the institutions such as World Health Organization.