Mike Smith - Buys a Bank to Run a MultiSig Storage Facility Called Bitcoin 101 and Digs Lake Satoshi

When you buy an bank, don't tell them that you plan to use the safety deposit boxes as a multi-sig storage facility. That's the lesson Mike Smith, a contractor from Michigan, learned the first time he attempted to buy a bank. The seller scrapped the deal upon hearing his Bitcoin themed plans.

That did not stop Mike Smith. He went on to buy another bank and, as per his plans, opened Bitcoin 101, a brick and mortar location that helps bitcoiners hold their multi-sig keys and it also doubles as a bitcoin education center.

Mike Smith tells Mike Peterson about his next venture called Lake Satoshi. It's a yearly event that can handle 500 participants. The location is an old quarry converted into a pristine holiday lake that features camping, boating, fishing and a gorgeous forest backed beach-front. A modern-day Bitcoin-Woodstock style event takes place there every year in August.

Today, Mike Smith is in El Salvador with big plans. He's building 275 units.
"Oh my God, this is like Miami 120 years ago ...this is where you wanna be, where the wind is at your back ... this is where capital is treated the best." - Mike Smith

Lake Satoshi / lakesatoshi.com

"As long as it's tick-tock next block I'm in!" - Mike Smith