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Miguel Moreno

|https://www.linkedin.com/in/miguelmoreno/

Miguel is a perpetually inquisitive individual having worked in software development and engineering for over 20 years, most of them at larger Fortune 500 companies like American Express, Beckman Coulter, OpenText, and Microsoft.

He bought his first Bitcoin in 2011 at a price of just under $1, when he discovered on a cryptography forum someone mentioning the Bitcoin Core project. Not thinking much of it, somehow he downloaded the Bitcoin Core client and has been playing with the technology and tools ever since. In 2012, while working at Microsoft as a Software engineer, he decided to quit a promising career, sell everything he owned and relocate to Spain, to spend his time to study this crypto technology that was making headlines everywhere, in more depth and with fewer distractions.

At the time, experimenting with lots pre-release software, writing his own, using questionable exchanges, acquiring/sharing knowledge and trading Bitcoin and Litecoin, allowed him to live a life away from a corporate job and dedicate his time on his new found passion.

He has been through it all: everything. The SEC hearings, the Mt. Gox-induced market crash of April 2013 (they still owe him many coins), the Bitcoin Core/Cash debacle with its hard fork, the fake Satoshi’s claims, etc. You name it. Being an early adopter comes with having to take considerable risks, having to use unstable, pre-release software and investing in untested, new technologies/coins, decisions that at many times seemed like a terrible idea.

He has acquired Bitcoins in every possible way since during the early days, there were no established or reputable exchanges in place. The better-known exchange was Mt.Gox, but being located in Japan, getting funds to their Japanese bank required one to jump through several difficult hoops. Many other alternatives were explored and he learned so much about which worked and which did not. 

Eventually, an American company, Coinbase, established itself on the market in early 2013 and Miguel was one of its first verified users. Below is my first transaction with them, buying two handfuls of Bitcoins for under $300. He currently is a top level (level three) customer with a 6-figure dollar amount daily limitation on his account, based on his trading history.  

BItcoin has been in existence for 10 years and its journey has not been smooth. There have been lots of ups and downs. Miguel has survived every one of the market crashes, although not without injury; some of these crashes have left him scarred; especially the one of the spring of 2013 (not the first one, but one of the worst).

Miguel was already living in Spain, having just moved from Seattle when Bitcoin suddenly surged from +$30 something to an incredible $240. The largest Bitcoin exchange at the time, Mt. Gox, started randomly freezing user accounts and taking several days to fulfill any cash withdrawal requests, if at all, on accounts that remained active. Then the site went down for maintenance, leading many to speculate (correctly so) that the exchange had liquidity problems.

Having bought at very cheap, Miguel made sure to have a stop loss figure to come out on top, should the whole thing come crashing down. A mental price of $60 was set and within minutes the exchange where he had moved many of his coins, ready to be sold if needed, hit a market price of $60. The price crossed the $60 barrier and Miguel decided to sell his assets on the exchange.  

It was the only time that he will admit he panicked and decided to sell many of his coins for whatever he could get his hands on at that time, fearing the worst. The situation was truly desperate and very little news was flowing. As market orders were placed, the servers were flooded, the lag in response handling the trades was getting worse and causing quite a problem. It seemed that most of the orders placed were not executing properly, not executing on time, or not at all; the same symptoms started to appear on most of the other exchanges. Some orders got stuck in a pending state, so other orders were placed right behind them, in case the pending orders failed. This led to more sell orders appearing on the order books causing more fear, thus driving the price further down. In a matter of minutes,

Miguel managed to sell BTC 750, resulting in a meager return of €24.000. The cash withdrawal order was also placed as soon as possible, fearing that the lack of liquidity on the one exchange might make everyone else rush to the exchanges that were still standing causing liquidity deficit problems elsewhere. Mind you, he was one of the lucky ones, as he did manage to place all his orders and receive his funds. (one too many: the BTC 200 sell order was pending and he chased it with a 400 sell order when suddenly the first order cleared). Many were not that lucky and did not manage to get their funds out in time, or they found out the next morning when there was nothing left to do. The sentiment was a mixture of relief and  bittersweet because BTC 750 at today’s price, is worth $1/2 Million dollars!

For the next several years in a row, the price of Bitcoin remained stagnant, but with a steadfast belief in the technology, and the dividends of his stake in crypto knowledge (and coins), Miguel has been able to sustain a jobless life for the last seven years, doing what he loves doing: studying, learning, experimenting and working on software projects. While learning this promising technology, he wanted to share his knowledge and founded Valencia Bitcoin, a society making an effort to attract Bitcoin enthusiasts and crypto curious once a month and sharing any knowledge acquired on the topic with fellow enthusiast. The group is still in operation and keeps growing with currently over 1.000 members! 

In 2015 Miguel got sidetracked and found himself involved in a startup: two non-technical partners proposed to Miguel, based on his technical software background, to join them in launching a software consulting company from the ground up. Combining efforts, lots of work, sleepless nights and complementing each other’s skills, the three of them managed to grow a company from nothing to a healthy $1M in sales in its second year and adding a total of 15 talented employees to the team.

However, Miguel’s heart was not in software development, nor management anymore, and In 2017, he sold his stake in the company to his partners, in order to move back to the US and settle in Boulder, Colorado. 

Although Miguel had mined Bitcoin and Litecoin with his PC’s a long time ago, when it was profitable, he had not immersed himself with a serious, multi-card mining rig. In order to know everything there is to know about Bitcoin he felt he needed to expose himself to all facets of the technology and so he bought himself the required parts for a 7 GPU rig. Eventually, he got it running, producing a consistent 180 Mhash/s mining Ethereum.

During the winter of 2017, Bitcoin started to grow irrationally at an unsustainable rate. Miguel decided then that that would be a good time to liquidate coins at the current astronomical asking price. Because of this crazy phenomena, Miguel was able to buy himself a dream home in the Boulder COuntry Club, paid in full (thank you Satoshi…) and was subsequently expected to be woken up from that dream at any moment.

He has been extremely lucky to be looking to settle during that time and coincidentally was able to liquidate what was needed, at the time that Bitcoin had reached its highest point. No one could have foreseen that. He had been holding on to these coins for the last 6 years, against all odds, for no particular reason at all. The stubborness paid off.

It has been quite a journey and Miguel will admit that between 2013 and 2017, while Bitcoin was not making any gains, it took a significant effort on his part to convince himself every single day to hold on to his coins and choose to spend out of his savings account, rather than to let go of his coins, for his monthly expenses. However, he knew that the technology would prevail. The question was whether it was going to be Bitcoin or another currency and that the Bitcoins in his hands, might become worthless overnight.  But he was confident that the technology would succeed; Satoshi’s Blockchain invention could not be un-invented.

Once in Boulder and eager to get started, he founded the Bitcoinero Consulting Group and now offers individual, corporate and group consulting services on any topic related to Cryptocurrencies, Smart Contracts, Blockchains, Taxes, Forensics, and as a legal expert witness during courtroom litigation and legal disputes involving cryptocurrency.

He is also training, teaching classes and busy working on putting together a full range curriculum on this amazing technology. 

He is a Certified Bitcoin Professional, certified by the Official Cryptocurrency Certification Consortium. He took the test without preparation and scored 90% on his first attempt.  Bitcoin is his passion, he has been doing this for a long, long time and he is confident about the level of knowledge he holds on this particular topic.

Last, Miguel is a dual citizen (US/EU) and happens to also be fluent in Spanish, Dutch and Italian, besides English.

December 2018

Understanding Bitcoin
A Beginner’s Guide

Saturday December 1, 2018 @ 9:00 am - 5:00 pm MST
|Recurring Event (See all)

One event on Saturday February 9, 2019 at 9:00am

One event on Saturday March 23, 2019 at 9:00am

- $999
Instructor-led, remote Training, Google Hangouts | Skype | WebEx:

This is an intensive, full-day course with 8 hours of jam packed knowledge to cover as many aspects of everything Bitcoin in plain English. We will be going at near breakneck speed, but slow down to make sure everyone understands the basic concepts. Bitcoin is complex, but once you get the basics, everything becomes so much easier to understand.This course is capped at 10 participants per session, to ensure that everyone has a chance to participate and leave enough time…

Find out more »

February 2019

Understanding Bitcoin
A Beginner’s Guide

Saturday February 9, 2019 @ 9:00 am - 5:00 pm MST
|Recurring Event (See all)

One event on Saturday February 9, 2019 at 9:00am

One event on Saturday March 23, 2019 at 9:00am

- $999
Instructor-led, remote Training, Google Hangouts | Skype | WebEx:

This is an intensive, full-day course with 8 hours of jam packed knowledge to cover as many aspects of everything Bitcoin in plain English. We will be going at near breakneck speed, but slow down to make sure everyone understands the basic concepts. Bitcoin is complex, but once you get the basics, everything becomes so much easier to understand.This course is capped at 10 participants per session, to ensure that everyone has a chance to participate and leave enough time…

Find out more »

March 2019

Understanding Bitcoin
A Beginner’s Guide

Saturday March 23, 2019 @ 9:00 am - 5:00 pm MDT
|Recurring Event (See all)

One event on Saturday February 9, 2019 at 9:00am

One event on Saturday March 23, 2019 at 9:00am

- $999
Instructor-led, remote Training, Google Hangouts | Skype | WebEx:

This is an intensive, full-day course with 8 hours of jam packed knowledge to cover as many aspects of everything Bitcoin in plain English. We will be going at near breakneck speed, but slow down to make sure everyone understands the basic concepts. Bitcoin is complex, but once you get the basics, everything becomes so much easier to understand.This course is capped at 10 participants per session, to ensure that everyone has a chance to participate and leave enough time…

Find out more »