Frequently Asked Questions
Is there an entrance fee?
To get things going, we ask you to exchange at least 100 SEK in bitcoin. You can do this in advance or at the fair. You can then shop for it, using a bitcoin mobile app of your choice. You can of course also choose to save it, or exchange back to SEK whenever you want. Thus, it's practically free entry.
How do I get there?
Here it is: Google maps. If traveling by public transportation, the easiest way is to take the subway to Slussen, exit Götgatsbacken. You then take a cross street up to Mosebacke and Södra Teatern. From there you will see signs.
Who is organizing the event and why?
Bitcoin Funfair is organized by magazine / communication agency The Forumist in cooperation with an app called Bitcenter. The purpose of this event is to educate and increase awareness on bitcoin in general, and to gain insights on how people perceive the currency. A bit like an unusually ambitious workshop!
What is Bitcoin?
Bitcoin is a new global, democratic currency which has tens of thousands of programmers and entrepreneurs around the world developing new services and apps. Bitcoin can be described as "the people's own currency". It is not controlled by any single government or central bank, and no one can decide who is allowed to send or receive money.
I have heard that the value of bitcoin is unstable and that people have lost their bitcoin after being hacked. Is it really safe to use bitcoin?
The Bitcoin technology has received a lot of attention and has attracted speculators who invest a lot and drive values up and down, and irresponsible operators has negligently built up unsafe bitcoin storage services and therefore has been subject to hacker attacks. It is not Bitcoin that gets hacked, but rather unsafe web services.
What do I need to be able to pay with Bitcoin?
All you need is to download an app to your phone and fill it with bitcoin. Transfers are sent between phones, like text messages.
How do I replenish with bitcoin?
Visitors will be able to replenish their bitcoin wallets (apps) by using bitcoin ATM machines at the venue. You can also exchange back to Swedish kronor in these ATM:s if you want to. You can also in advance or afterwards make use of an online exchange service such as Swedish safello.com.
Which app should I use?
What fees are involved when using bitcoin?
Inside the Bitcoin technology, there is a voluntary fee of approx. 25 öre per transaction, regardless of size. The fee goes to those who help maintaining network hardware and allows for the transaction to be verified more quickly.
I just transferred bitcoin but the amount does not appear exactly the same in SEK in the recipient's phone. Why is this?
It is probably because your apps use different exchange rates for estimating the value in Swedish kronor. The bitcoin amount is however the same.
How do I calculate SEK to bitcoin and do I have to keep track of the price in bitcoin?
No, in most wallet apps, you enter the sum in Swedish kronor and the app automatically calculates to bitcoin. Continue to think in Swedish krona!
Can you teach me how to use bitcoin?
There will be information and personnel at the venue to help and to show you how everything works.