Exclusive Interview with Adam Kitain: MyCoinSolution
MyCoinSolution’s mission is to:
Our mission is to make bitcoin widely accessible. We help our clients understand the benefits and risks associated with Bitcoin, enabling them to make the best decisions for payment processing.
Regarding Adam, according to MyCoinSolution’s website, has a background in Electrical Engineering and CS at the Georgia Institute of Technology. He has since worked for IBM leading strategic enterprise transformations. Currently, he devotes his time to making Bitcoin more widely accepted.
Joseph Fiscella co-founder and programmer, actually introduced me to this project, which also happens to be core developer for FlorinCoin, read my article with him here.
Also according to MyCoinSolution’s website, He is a programmer, miner, alt-coin core developer and founding member of a Bitcoin protocol software technology company, Joseph has been full time Bitcoin since early 2014. He specializes in taking the powerful technology behind Bitcoin and implementing it in user-friendly web-based applications.
I will be talking to Adam today, but I thought it was good to know whom we are talking to here. And now for the questions!
1. Can you tell the story of how MyCoinSolution was created?
My Coin Solution was born out of the ashes of Mt. Gox in the sense that the resilience and promise of the Bitcoin community at that time inspired me to create this company. I recognized the potential in Bitcoin as well as its underlying technological innovation, the blockchain. However, I also appreciated that there was a gap between the technical Bitcoin community and those in a position to leverage Bitcoin to help their business. Enter My Coin Solution, we bridge that gap and help managers at businesses understand how Bitcoin can benefit them and also do their integrations. We feel that although Bitcoin has made a significant splash in mainstream media, most companies that are leveraging it are a fairly niche market and we’re trying to change that.
2. Future development plans?
Right now we’re working on expanding our customer base and gaining credibility. In due time, we plan to work with a wider range of customer types, sizes, and industries. Going forward we’d also like to offer a wide range of Bitcoin resources to our clients, including merchant services, full nodes, web and wallet hosting, etc.
3. What made you turn to Bitcoin?
4. Do you pay employees and/or services in Bitcoin?
We are all about flexibility. Our employees have the option to be paid in Bitcoin or in cash.
5. How do you HODL BTC? All of it, or convert to fiat or what?
Typically we convert our Bitcoin to fiat for tax purposes. The only exception is when we pay our employees in Bitcoin, because the tax mechanism behind our compensation plan and our employees preferences allows us to do this easily without having to worry about complicated tax returns or high overhead costs.