Posted 20 August 2013 - 07:51 PM
Hi, everyone! Thought I would take a moment to more formally introduce myself and the Bitcoin project I am working on. This is just for you all, so if anyone needs an official bio please email me and don't pull it from here! My journey has been a pretty wild ride but one I wouldn't trade for anything..
My name is David Bailey, and I recently graduated from the University of Alabama with a BA in Finance, Economics, and minors in Mandarin Chinese and Spanish (I am also about 40% done with a Masters in Finance but I decided it wasn't worth waiting another year to finish). I have been investing in equity markets for about 8 years and have done stints in a variety of buy-side investment banking jobs (I've worked summers for a Hedgefund, a VC firm, and a double-bottom line private equity and seed stage mezzanine finance firm). I became deeply fascinated with Austrian economics after loosing a small fortune in the subprime crisis and searching for answers why. I have founded two, long-only, equity funds with a combined AUM of approximately 900k and a separate fund for domestic microfinance investments with about 80k AUM. In college I founded Forza Financial, a 501c3 microfinance institution which I grew from concept into one of the leading microlenders in the country- we now have about 30 staff and I frequently speak at community development and microfinance conferences around the country. I have since stepped down as CEO and now serve as Board Chairmen, but due to my microfinance background I also serve on the advisory board for Lend for America, the leading domestic microfinance advocacy group in the USA. In Fall of 2012 I traveled to Singapore to try to convince Jim Rogers to hire me- I failed, but he connected me with a commodities trading group in Singapore that I tentatively accepted a job at. In late 2012, I became rather consumed with Bitcoin and invested a few thousand dollars, which I levered way up on Bitfinex, and got lucky on my timing. Bitcoin immediately made sense to me due to my Austrian leanings, my interest in micropayments, and my travel experience in developing countries including much of China and Cuba. With enough btc profits to retire on for several years, I decided to turn down the job offer in Singapore and go full swing into BTC.
In May I traveled to the San Jose conference to try and figure out my role in the space. After sitting in on the regulatory and VC panels I realized I didn't have the capital to launch a really ambitious project, and that I should focus on low hanging fruit that builds Bitcoin's basic infrastructure. Returning home to Alabama, I kept having the same conversation over and over with people about what I was doing in San Jose and what Bitcoin was, etc, etc.. Then I realized that what was needed was a free guide that could efficiently, succinctly, and professionally summarize that conversation. My family has been in the publication business for over 30 years and literally has millions of magazines in print. I decided the low-hanging fruit was to take my capital, tap into my family's existing publishing infrastructure, and produce a mass-produced, advertiser-supported, guide that could reach hundreds of thousands of people with each issue. Thus the idea for yBitcoin was born. We're about two months into production, and I have since traveled to all the major Bitcoin conferences (San Jose, London, and we sponsored NYC) to source our authors and advertisers; our target print date is late Oct. to be in people's mailboxes by the 1st week of November. After our first few issues, I am planning on handing the business over to my family to maintain issue to issue and will be using the proceeds to fund my next more ambitious project (which at this point I'm keeping under wraps!). As I mentioned, it's been a fairly wild ride to date- but I'm convinced the best days are ahead of us.