A Pitch Day experience

Getting your Trinity Audio player ready...

The deadline for submitting your application to be a part of Pitch Day at CoinGeek London is December 22. If you’ve got the next big thing and want to be a part of this great event, make sure you submit your application before the deadline. You can find all the rules and application procedures here at the Bitcoin Association website.

This week, I had a chat with a veteran of the Pitch Day process Bryan Daugherty. He participated in the Bitcoin Association’s Pitch Day at CoinGeek’s Seoul conference; he pitched a series of “Metanet inspired Bitcoin SV based WordPress Plugins called PressBit.” 

Daugherty is a consultant for one of the largest technology providers in North America, where he advises companies and organizations on ways to reduce costs and increase efficiency using technology. He’s served as a marketing director and branding expert, where he helped people build and grow their personal or corporate online identity. 

Daugherty’s journey to the Bitcoin SV (BSV) ecosystem mirrors a lot of people’s journey, “I was first introduced to the project back in the summer of 2012. Admittedly I never understood its real potential until late 2017 after the BTC/BCH split. I purchased my first BCH coin in the fall of 2017 and immediately immersed myself in learning as much as possible.

“I never felt that there was much to Bitcoin BTC as it lacked in its ability to scale for any real use case. The infighting between online groups motivated me to learn as much as I could to understand what future possibilities may come from their continued development. The blocksize debate led me to Dr. Craig Wright. His lessons resonated with what I already understood about enterprise-technology, that scalability is built upon a sound foundation.” 

From sidelines to building on BSV

Through his research into the competing technologies and the lessons provided by Dr. Wright encouraged Daugherty to get off the sidelines and become an active participant in building on the technology. 

“I purchased my first mining rig just days before the November 2018 hard fork to ‘vote with my hash’ rather than ‘proof of social media.'”

He started looking at ways to use his legacy experience in web development, marketing and WordPress commerce and found a way he could take those skills and transfer them to the Bitcoin SV ecosystem. 

His goal was to facilitate the onboarding of WordPress transactions to the Bitcoin SV blockchain through a series of plugins, extensions and applications. His ideas included a commenting system, the ability to login to WordPress via popular Bitcoin SV wallets, a storage system, a payment gateway and a charity widget. 

PressBit debuts on Pitch Day

Daugherty presented his idea for the PressBit suite at CoinGeek Seoul. 

“My idea requires expertise that I did not possess, and I needed to secure a developer able to help me develop this to its full potential.”

During the pitch, Daugherty looked very comfortable at the front of the room, “Prior to the CoinGeek Seoul Conference, I had never pitched an idea in front of investors. I have always been a firm believer that a business should start small and grow organically. 

“I do have extensive experience with presenting technology solutions in front of C-level executives and IT professionals. I believe this provided me with some confidence while pitching my PressBit idea in front of a room of VC’s and people whom I truly respected.”

How to prepare for Pitch Day

If you plan on applying for Pitch Day in London, please take advantage of the notes and advice offered by the Bitcoin Association. Daugherty notes the process helped prepare him for the big day, “The process for Pitch Day was exceptionally well thought out. I utilized the guide that Bitcoin Association provided during the application phase. 

“It was beneficial to organize my thoughts, presentation and overall business plan. Raylene Wilson from the Bitcoin Association was incredibly helpful during the entire process, answering any questions and helping to prepare me for the whole process.”

That preparation will serve you well when it comes time to present your ideas to a room full of investors “(there was) nothing truly unexpected. However, I was surprisingly taken aback presenting in front of a room full of people whom I had grown to respect tremendously—including Dr. Wright, Jimmy Nguyen, Steve Shadders, Alex Fauvel, Paul Rajchgod, Sam Chi among other incredible personalities. I was quite impressed to see them all intently listening, taking notes and asking important questions.”  

The pitch went well, but ultimately it didn’t garner the investments Daugherty was after. Still, it was far from a fruitless endeavor as he gained some valuable insights from the investors after the presentation. 

“Paul Rajchgod from the Ayre Group was quite helpful in providing insight into what I needed to do to be successful and explaining why they were not investing at that time. The infamous WallStreet5 did invest in PressBit before Pitch Day. He was quite integral in helping me prepare my application and business plan.” 

Far from deterred, he is currently learning to code to develop PressBit on his own, “This has slowed the development significantly, but ultimately it will lead to the development of other Bitcoin SV ideas.”

Advice for Pitch Day London participants

What advice does Daugherty have for those preparing to participate in Pitch Day at CoinGeek London? 

“Your presentation should emphasize the benefit to the investor, not just to your end-user. You should project realistic outcomes with confidence that you have thought of various scenarios that may or may not occur in the future—especially concerning valuations. 

“Ultimately, investors want to know that you are 100% committed to your plan and will protect as well as grow their investment. Be yourself. They are investing in you as much as they are investing in your idea.

“Regardless of whether an investment is offered or not, you will gain incredible insight and experience from some very successful people.”

If you plan to participate in the next Bitcoin Association’s Pitch Day, please remember the deadline is Sunday, December 22, 2019. For a full list of requirements, consult the Bitcoin Association’s website. 

Reach out to Bryan Daugherty on Twitter and LinkedIn to talk more about his Pitch Day experience and find out what he’s currently working on. You can also learn from the people, like Mike Gamaroff of Wheedl, who pitched their projects to a panel of investors in Seoul for the first ever Bitcoin Association Pitch Day. Watch all Pitch Day videos on The BSV Pitch YouTube playlist.