Thursday, July 11, 2013

Living on Bitcoin? Is it Possible??

Can a couple live their first three months of marital bliss using virtual currency? Austin and Becky Craig, documentarians and soon to be newlyweds, are taking on this challenge firsthand with a social experiment filming their "Life on Bitcoin" for a documentary.

Bitcoin, the currency of the Internet, is distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever. There is no government, company, or bank in charge of Bitcoin. With Bitcoin, you can be your own bank.

For the first 90 days of their marriage, the couple will hand their credit cards, cell phones, and cash over to the film crew and from then on will only using cryptocurrency. All their furniture, rent, groceries, travel, gas, restaurants and even medical expenses will only be able to be purchased with bitcoins.

The couple is fundraising to cover the costs of producing the documentary. They launched a Kickstarter campaign with the goal of raising $70,000. Donations can also be made using bitcoin directly through film’s website. The incentives offered range from a DRM-free HD copy of the film, to signed memorabilia, to face time with the creators, to various producer credits.

The Life on Bitcoin Kickstarter campaign has attracted national support, including a top secret reward from Poo~Pourri’s founder, Suzy Batiz. Suzy is a serial entrepreneur from Texas who founded the multi-million dollar brand Poo~Pourri with a mission to help people avoid embarrassing bathroom odors when nature calls. Suzy recently launched a charitable campaign to fight hunger called "Poo~Pourri Gives a Crap."

“I love film and funded Life on Bitcoin because I believe in crazy ideas that can change the world for the better,” said Suzy Batiz.

“It’s a radical experiment and will be fun to see if they can do it. I made our dreams come true with a crazy idea- I believe in possibilities,” she added.

This documentary will be interwoven with some of the rich and intriguing history surrounding bitcoin. The couples blogs and other social media content will feature interviews with leading personalities in the world of bitcoin, and with skeptics of this nascent digital currency.Whether the newlyweds will live a life of luxury or not, the results of this experiment will be informative about the evolution of bitcoin.

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