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Bitcoin creates jobs and receives increases in venture capital

It has been a job growth sector with the rise of Bitcoin and California is the primary recipient, according to a report today in Coin Desk. The online website reddit’s r/Jobs4Bitcoin increased to 5,000 subscribers this week.

Tribeca Talks: After The Movie: The Rise and Rise Of Bitcoin - 2014 Tribeca Film Festival
Photo by Astrid Stawiarz

The indicator at Reddit's 5,000 subscribers on Jobs 4Bitcoins includes jobs within the Bitcoin sector and payment with bitcoin. This has been building steadily over the past few months and was noted as the push for bitcoin pay to employees was begun in Dublin, Ireland at GSM Solutions.

GSM Solutions, an electronics provider, began its Bitcoin support as the firm that placed the first Bitcoin ATM in Dublin and markets bitcoin as payment in its press releases and advertising. Its website displays Bitcoin and features a profile of it.

According to LinkedIn profiles, there are 7560 professionals active in Bitcoin. The geographical breakdown from a LinkedIn sample of 500 places Calif. at 40 percent of the total and it is mainly within Silicon Valley. New York is next and Texas is third for job holding in the Bitcoin sector. The UK and Canada are a distant 9 percent and 8 percent respectively.

It has been a slow start for Bitcoin in England, where the merchant shops have caught on quickly but bitcoin as payment is not received. The situation in England is heavily in cash with one out of two merchant purchases in cash. The attitude of the people in England is that it is moving to a cashless society but shoppers online still are only one in five that will pay with bitcoin.

Coinality is an online job site search and employer listing which pays in digital coins of Bitcoin, Litecoin and Dogecoin. Jobs posted since its start Sept. 2013 are 2,000 with 750 submitted jobs. The range can be from part-time to full-time. Coinbase, Gyft and SecondMarket are some of the employers who post jobs on the site. Currently, there are 200 plus jobs listed on the site of which 29 percent are full time jobs and about half a freelance positions.

Bitcoin has been considered the Internet of the new millennium according to Marc Andreessen on Market Watch of Bitcoin venture capital position of 2013 funding totals. Bitcoin raised $74.1 million in 39 start-ups during 2013 which places Bitcoin at one-third of the capital raised in 1995 for Internet giants of today, eBay and Yahoo. How is Bitcoin to be viewed since it began in the Satoshi white paper in 2009 as a peer-to-peer cryptocurrency? It is global and decentralized as the Internet with growing usage.

Bitcoin finds notoriety throughout the conferences and its various activities world-wide. The next step for Bitcoin is the summer of venture capital ahead through the VC Boost summer program. This will be another opportunity for an injection to increase investment and create jobs in Bitcoin.

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