Sign up for up-to-date and interesting information and news about bitcoin - delivered hot off the keyboard to your inbox.
In our first three episodes of the Bitstocks Team Talk series, we introduced you to Cryptocurrency Market Analyst, James Coughlan, and Cryptocurrency Portfolio Advisors Adam Norrie and Antonio Shillingford. Today we chat to Elia Yousif, a general all-round good guy, and our specialist in-house OTC Trader.
Elia: No, I did not. In fact, I studied Computer Science at university. This is also where I first came across Bitcoin. Consequently, I went to work for a development company that specialised in financial systems. In my position here, I helped to build systems for banks and investment firms. Although I was working in the traditional financial sector, I found myself doing research about Bitcoin’s financial model. My interest in the topic kept growing.
Elia: I was convinced off the bat. My first thought was, how do I mine it? At the time, bitcoin did not have a price feed yet, it was only traded and sent on forums. I remember signing up to Bitcoin Talk Forum to read all of Satoshi’s posts. At the time, it must have been early 2010, he was still actively posting on the forum. I wanted to get ‘in’ on Bitcoin, so I had to choose between buying 35,000 bitcoin and buying the best graphics card available to try and mine bitcoin myself. I chose the latter, and the rest is history...
Elia: I started off in a sales position, but I have worked in just about every role since then. In the early days of the business, we were a self-funded start-up so you generally had to apply any applicable skills you had to any project. In fact, we still collaborate between departments. Although we now have a far wider staff complement, and my ‘main’ position being trader in chief on the OTC desk, I still offer my technical expertise to coin integrations.
Elia: Well, in recent years I have become more of a HODLer, Nan, which means that I try to hold onto my coins as one might do with gold. In the early days of Bitcoin when a coin was not worth that much, I made the mistake buying a graphics card to attempt to mine bitcoin myself, instead of purchasing 35,000 coins. I still kick myself a bit, as today they would have been worth more than £250 million. My recent purchases have been limited to essentials like software products and a bitcoin hardware wallet, plus the obligatory game or two.
Elia: I would say EOS. Although EOS has its own currency, it is the platform that excites me most. EOS is still in ICO stage meaning that we will only see it ‘come to life’ in June 2018. From what is known about the platform though, I believe that it has the potential to disrupt a number of other blockchain technologies out there.
Elia: EOS is an operating system (that’s what the OS in the name is for) much like Ethereum. In the case of EOS, the concept is to create a global computer system that lets developers build applications on top of it. It’s an amazing concept, and I’m looking forward to seeing the platform up and running.
Elia: It is a difficult question. I might just build a blockchain application to protect intellectual property from piracy. You would be able to host games and movies on the blockchain, and it would only allow access to users with a private key that serves as proof of ownership. The key could expire after the number of times it was contracted for use, or it could be limited to be used by specific devices. Not only would this protect the material from being illegally copied, but it would allow users to access software and files without having to download them.
Elia: The funniest objection has been that bitcoin should not have ‘coin’ in the name if it is not a (physical) coin. Another, that it does not really exist if it is only on a computer screen. I have even been told that, “if I can not touch it, it is not real” and asked to show them the physical coins...
Elia: I would call the banker, because he would probably not be doing anything significant with his time. The cryptocurrency trader will be too busy trading crypto. If I called the banker, at most I would be dragging him away from creating fake money.