1. If you afraid to promote Bitcoin on your work (job, business) - you're losing not only opportunity to make future closer, you're also losing your ability to get loyal customers, to make yourself recognizable,
Friday, November 28, 2014
Monday, November 24, 2014
Open letter for Bitcoin trolls
Technically Bitcoin works pretty much like a real gold with ability to transport it instantly to any part of the world.
Karpeles (Mt.Gox) was one of those people who managed to run away with this type of gold due to ignorance of public. Karpeles was able to do this, because people trusted him to store their Bitcoins on his service (The same thing as letting someone else to store your gold for you in exchange for paper). After Mt.Gox incident, there is a huge variety of services which never store your gold, I don't know why people trusted Mt.Gox so much.
Bitcoin is Open Source. This means that it is transparent for programmers. The mechanisms behind Bitcoin don't allow it to be stolen - it is pure cryptography, but people right now don't know how to store their private info securely - that's why some incidents may occur.
Technology standing behind Bitcoin is called Blockchain. I'm one of those programming experts who would never give up on this technology. I'm developing really magnificent solutions based upon Bitcoin, and will never give up on that.
I am 99,99999% sure about Bitcoin reliability because I've read that Open Source code, and I not only read it, I tried to hack it, and later I edited its code to fit my needs.
Fundamentally all those digital gold is stored in a distributed file called "blockchain" reliability of which become possible thanks to awesome cryptography - everyone who use Bitcoin has a copy of this file (its size is 30 gigabytes now), and until there's at least one copy alive on the earth, no one can kill Bitcoin's balances (can you even try to imagine that?), those unkillable balances means that we've got the most perfect ledger to record our funds in the world.
The best part of this ledger is the fact that without your consent no one in the universe is able to make your records (unless you won't give up your private keys - the secret info which protects your digital assets) - this is pretty much like holding gold! (yeah its a new gold which is volatile).
Okay, maybe conservatively your thoughts working in a right direction. But I've spoke about Bitcoin to around 100 teenagers (in Russian Universities, since I'm myself native Russian and lived whole life in Russia) - those teenagers are pretty eager to learn & understand Bitcoin! Because most of them are excellent grads with wonderful skills in C++, PHP, Delphi and many other programming languages.
It doesn't matter, how much you trolls scream here, how much you spill dirt on that weird concept called Bitcoin. You are not playing any role in future anymore, you're just past. You're the generation which have so much in common with those old people who are unable to use the Internet. Its up to us, programmers, technological & scientific experts, - what the finance of future will look like in 21st century.
Karpeles (Mt.Gox) was one of those people who managed to run away with this type of gold due to ignorance of public. Karpeles was able to do this, because people trusted him to store their Bitcoins on his service (The same thing as letting someone else to store your gold for you in exchange for paper). After Mt.Gox incident, there is a huge variety of services which never store your gold, I don't know why people trusted Mt.Gox so much.
Bitcoin is Open Source. This means that it is transparent for programmers. The mechanisms behind Bitcoin don't allow it to be stolen - it is pure cryptography, but people right now don't know how to store their private info securely - that's why some incidents may occur.
Technology standing behind Bitcoin is called Blockchain. I'm one of those programming experts who would never give up on this technology. I'm developing really magnificent solutions based upon Bitcoin, and will never give up on that.
I am 99,99999% sure about Bitcoin reliability because I've read that Open Source code, and I not only read it, I tried to hack it, and later I edited its code to fit my needs.
Fundamentally all those digital gold is stored in a distributed file called "blockchain" reliability of which become possible thanks to awesome cryptography - everyone who use Bitcoin has a copy of this file (its size is 30 gigabytes now), and until there's at least one copy alive on the earth, no one can kill Bitcoin's balances (can you even try to imagine that?), those unkillable balances means that we've got the most perfect ledger to record our funds in the world.
The best part of this ledger is the fact that without your consent no one in the universe is able to make your records (unless you won't give up your private keys - the secret info which protects your digital assets) - this is pretty much like holding gold! (yeah its a new gold which is volatile).
Okay, maybe conservatively your thoughts working in a right direction. But I've spoke about Bitcoin to around 100 teenagers (in Russian Universities, since I'm myself native Russian and lived whole life in Russia) - those teenagers are pretty eager to learn & understand Bitcoin! Because most of them are excellent grads with wonderful skills in C++, PHP, Delphi and many other programming languages.
It doesn't matter, how much you trolls scream here, how much you spill dirt on that weird concept called Bitcoin. You are not playing any role in future anymore, you're just past. You're the generation which have so much in common with those old people who are unable to use the Internet. Its up to us, programmers, technological & scientific experts, - what the finance of future will look like in 21st century.
Sunday, November 2, 2014
Sit back and relax, wait for the world to catch up. We're sitting on Dragon eggs waiting for them to hatch.
I feel as though the momentum you are describing is essentially driven by buzz around Bitcoin, and as such may be mercurial.
The momentum is driven by bitcoin's economic advantage of being the lowest transaction-cost currency for online and distanced transactions. People choose bitcoin over altcoins then because they want the most compatible cryptocoin, the one that has has mass-approval, this is the network effect that says that a network is more valuable to new people the more people that are a part of it--and bitcoin is by far the more important crypto network. And once they've chosen to invest in a coin with both money and merchant services, they're less likely to give other altcoins the same chance, this is path-dependence.
Beyond that, the network effect and path dependence both work in confluence to create a synthesis effect that drives new people towards bitcoin and away from altcoins the further development there is in bitcoin, the more adopters, etc.
Sidechains are the cherry on top, essentially cementing all altcoins subservient to bitcoin and reliant on it for future survival. Darkcoin will become a sidechain for privacy. Namecoin becomes a sidechain for real-estate. The penny has dropped and bitcoin has won the altcoin war, much as we predicted years ago.
Btw, the analysis of path dependence and the network effect giving bitcoin the unbeatable adoption advantage comes from brilliant economist Peter Surda's 2012 master's thesis on bitcoin, which I recommend to you.
The assumption that bitcoin's popularity is driven by buzz and not by economics is what drove the various scoffer crowd and the like to create memecoins, specifically Doge. They believed they could out-buzz bitcoin and thus either surpass it or perhaps some thought to destroy it.
However the devs that controlled Doge's code were ignorant that economics was driving bitcoin, not doge. They had no idea why people really liked bitcoin; they thought it was being new-cycle pumped and they decided to outpump bitcoin.
What began as a joke became serious as the coin gained some value. Ultimately they signed the death-knell of doge by removing the limit on coins created. Bitcoin is partly what it is because inflation is not in the interest of users of currency, but the Doge people didn't understand this, and thus Doge is now dying or dead.
Would there be anything to stop me from taking Bitcoin code line for line and adopting it as a large institution with an interest in developing a means of online transaction?
Absolutely nothing, but there are many reasons why this is unlikely to go anywhere. To put it bluntly, bitcoin has already drunk your milkshake. Path dependence of those who already bought into bitcoin sucks up the oxygen. It would be like trying to create a new fax-machine network on an incompatible protocol and convince people to buy your new fax-2.0 machine. Unless it has something the other fax machines can't do, then it has absolutely no chance of gaining mass adoption.
Such thinking has led entire countries to try to create their own cryptocurrency, ala Ecuador, and they're going to learn a difficult lesson thereby in the long run. It won't work for them nor solve their currency problems.
I could list off many further reasons why sponsored altcoins aren't a threat to bitcoin. Probably the biggest is that path dependence of people already into bitcoin prevents their widespread adoption. The network effect means a network is more valuable the more people that buy into it. That's something you can't just copy in terms of code. That is to say bitcoin isn't just code but an ecosystem-complexity, and you can't duplicate those other elements that drive bitcoin adoption.
In fact, sidechains in bitcoin integrating altcoins adds all altcoin's network value to bitcoin, making it more valuable than any one of them could ever be individually.
From here on, all altcoins will have to have a unique purpose that isn't the focus of bitcoin. None of them that survive should be focused on being a currency on their own and little else.
Perhaps countries like Ecuador will survive with a locally-approved cryptocurrency that functions by clearing internationally as a bitcoin sidechain. If that's what the future holds, if all countries go that way... things could get very interesting. But if they try to issue more cryptocurrency the way they issued fiat, they'll find repudiation happening yet again.
This isn't even to address the question of development and security and market confidence, which also can't be duplicated by simply copying code.
I know what's going to happen if there's a sudden fault in bitcoin's code, I've seen it happen and seen it resolved, bitcoin devs jump to the computer and solve it before I even know there's a problem, and I know there are extremely smart coders out there working full-time on improving bitcoin's system and adding features. These cannot be control-pasted into a GIT repository either.
What do I know about your fly-by-night altcoin? That the devs controlling it could make a Doge-quality decision and kill it overnight?
I know that no one can remove the coin-limit on bitcoin and create inflation because mining protections prevents it. But if your entity is doing all the mining initially, as it must to start out, you've essentially already 51%'d yourself, with no guarantee that you'll ever convince enough people to buy into mining your system to ever change that, plus no one accepts your altcoin. Bitcoin spent years facing this wall, and companies like Bitpay have been operating for years now. You can't duplicate those either.
Only by buying into the sidechain system can you make your coin relevant to the larger bitcoin ecosystem, and even then you only cement bitcoin in place as top coin, not the reverse.
It seems to me that an entity able to generate sufficient buzz could easily side step the entire market in this way and render other cryptocurrencies obsolete (other than as a means of online black or grey market purchasing).
It can't be done as a mere cryptocoin, because a competitor cryptocoin has no competitive advantage over bitcoin and cannot theoretically gain one, because both bitcoin and every cryptocoin are just code, and what one code can do another code can do.
Any feature an alt-coin could develop could be implemented by bitcoin if it ever became important enough to threaten bitcoin's market position. And there would be plenty of incentive to do so.
The result is bitcoin would squash the altcoin like a bug, adopt their feature and it's over for them.
Aha! But what if they don't open source their currency and thus bitcoin can't copy their technique?
That's an even bigger problem. People don't trust secret code, and trust is the name of the game. Look at the problems that Darkcoin has had getting going, and most people, including me, like their proposal! But without a code review who can say if it's got a real solution or not.
It's the same reason the dollar hasn't been superseded as a currency for decades now, it has very little to do with the actual paper dollars are printed on--all fiat currency can do the same things other fiat currencies can do, why isn't the Canadian dollar the world's reserve currency instead?--rather it's the US system, economy, confidence, and military power, etc., that makes the dollar what it is on international markets. The system-complex > the thing itself alone.
Which is why the only possible challenger to the dollar is a currency of another mode that can do what the dollar can't possibly do.
And digital crypto is that mode, cryptocurrency is that entity. Cryptocurrencies can do things that fiat currencies cannot do, like transmit themselves with their value over communication lines. This is the key to their lowering of transaction costs, and thus their compelling value-proposition.
I promise you, it's a brave new world we're entering, and questions like yours are important to ask, however they should diminish in doubt with each passing year that bitcoin grows in strength, important, value, adoption, and influence.
Bitcoin will become the dominant world currency eventually, for these and many more reasons, and we are living in the midst of a revolution perhaps as important to humanity eventually as the invention of the computer was to last century. Things will never be the same.
Friday, October 24, 2014
Top reasons why people so threatened by Bitcoin
- Its new
- Its confusing
- They hear how people get rich by purchasing cheap and selling when price goes up. They think this is a get rich scheme
Monday, September 29, 2014
Constructing the IPv4 future
We're running out of IP addresses for a very long time. There's a huge deficit for IP addresses.
IPv6 is something which is next logical step, but compatibility issues frighten software engineers & that's why nothing happens.
Ok, but the issue isn't only such resources as IP addresses.
Because IP addresses are virtual issue.
But there is such a scenario in next few decades that we're still using IPv4. This may happen if companies like Apple won't control software/hardware market. Because while closed architectures like Apple's App Store iOS MacOS software is a step back & not really scientific approach, they might be pretty popular in next decades, because people are stupid & they need ready product which "scientists" community lacks of providing.
So:
1) If "scientists" community will be strong at GUI's & UI's, most likely users will choose Open Source
2) If people have chosen open source & public consensus, then no incentive for transferring from IPv4 to IPv6, because everybody's happy even with restricted amounts of IP addresses.
How does that affects nerds.
1) With trillions of Internet devices, there will be competing for IPv4 space & each IP address will cost indefinite amount of money which probably nerd won't affford.
2) That means that no more home servers / no more other individual per IP private projects...
3) That means welcome to the NAT. More tools for NAT will be necessary & especially the ones which increases the demand in the token networks with increased privacy - the kinds of networks which helps building decentralized network services.
IPv6 is something which is next logical step, but compatibility issues frighten software engineers & that's why nothing happens.
Ok, but the issue isn't only such resources as IP addresses.
Because IP addresses are virtual issue.
But there is such a scenario in next few decades that we're still using IPv4. This may happen if companies like Apple won't control software/hardware market. Because while closed architectures like Apple's App Store iOS MacOS software is a step back & not really scientific approach, they might be pretty popular in next decades, because people are stupid & they need ready product which "scientists" community lacks of providing.
So:
1) If "scientists" community will be strong at GUI's & UI's, most likely users will choose Open Source
2) If people have chosen open source & public consensus, then no incentive for transferring from IPv4 to IPv6, because everybody's happy even with restricted amounts of IP addresses.
How does that affects nerds.
1) With trillions of Internet devices, there will be competing for IPv4 space & each IP address will cost indefinite amount of money which probably nerd won't affford.
2) That means that no more home servers / no more other individual per IP private projects...
3) That means welcome to the NAT. More tools for NAT will be necessary & especially the ones which increases the demand in the token networks with increased privacy - the kinds of networks which helps building decentralized network services.
Sunday, September 28, 2014
The Best YouTube Channels 2014
- SophieCo
- BreakingTheSet
Friday, September 26, 2014
Offer Bitcoin discounts to increase adoption rates. Bitcoin go to the moon!
Both services & products must go cheaper. If all the economy products are cheaper, the customers can afford purchasing more. When you're dumping the prices, you're dominating the market. Some of your competitors will want to cut your head for lowering prices.
Don't be greedy. Most remote workers are ready to have some stable payments even if that will mean doing some cheaper jobs, or some stable online jobs, but this stability rarely provided in any free-lance market. If you give everyone a stability in free-lance market, probably then there will be more people who's willing to work for cheaper rates at your freelance marketplace. Everybody sets fixed prices at the freelance markets - nobody among workers want to make a discount, because they know there's not a lots of jobs available & half of their time will be spent to search free-lance jobs, and part of that time/money will be spent to inefficient means of money transferring for their job + freelance board commission. If you would remove all of such obstacles, then there wouldn't be such problems. And that's about freelancing.
Now let's talk about products.
Yeah this sounds very abstract. But Bitcoin is all about costs. 1) Cheaper costs of running Bitcoin network; 2) Cost of producing goods (doesn't matter real or virtual); 3) Replacing the whole systems & logistics with Bitcoin oriented economical optimizing
Many businesses in the world are employing the business model 1 to 10% expenditures for raw material, 80% for management - that gives you that price tags like $100, $1000 and such product prices. There's so many things in such categories which could cost cheaper, but due to market sizes/high management costs they can't be make cheaper, even though customers wouldn't mind pay cheaper!
I mean that all operational expenses could be cut. Entrepreneurship is being keen/flexible enough to provide competitive prices. E.g. before Internet servers wasn't popular everybody thought that normal shared web-hosting will cost at least $10 per month or bigger, but once we found out that quality of computers are growing, we don't feel like to pay for shared web-hosting at all. We can get the same quality of prices for $1.
The same revolution is have to be made about everything: current herbalife protein power costs around $40, original viagra costs $20. I have some strong belief that I should be able to order both of those things in the form of generic stuff, and I think this is a wonderful thing. Imagine yourself ordering some generic Indian herbalife for $3 (delivery included). Without Bitcoin & without OpenBazaar such things seemed impossible. With Bitcoin - it is obvious.
There's nothing wrong with decreasing the prices. All of those who's saying that you have to make your time cost more money, and that's correct thought. But that doesn't mean that you're always have to increase your prices. Make product massive, dominate on low-price markets!
If at Bitcoin shops we provide cheaper prices but only for Bitcoin customers that could be decisive factor for Bitcoin adoption speed.
So don't be greedy, and start making customers loyal to your business, offer them discounts, but only if they're transacting in Bitcoin. In my opinion world can become better place if we follow this patterns. I think its time to fight monopolies. Patent monopolies, Product monopolies, Marketing/Management monopolies, Logistics monopolies - they are everywhere! And its time to take over the world. Bitcoin to the moon!
Thursday, September 18, 2014
Добро пожаловать в самую продвинутую страну по Биткойнам
Россия, это страна возможностей. Страна денежных суррогатов, поршкаенов, административного ресурса, областной прокуратуры. Никакой диктатуры. Основной язык сайта Earl Fox рассчитан на англоязычную аудиторию, потому что им тоже интересно, каковы наши успехи в наладке платёжной инфраструктуры в нашей стране. На русском языке здесь будет представлено достаточно много ресурсов важных для тех, кто впервые познакомился с Биткойнами.
Как получить Биткойн?
Самые актуальные & надёжные ресурсы покупки и продажи Биткоинов для России
Как получить Биткойн?
Самые актуальные & надёжные ресурсы покупки и продажи Биткоинов для России
- Самый простой способ это LocalBitcoins.com. Сайт позволяет обменивать ваши QIWI, Сбербанк, Яндекс.Деньги, WebMoney и любые другие неотменимые платежи на Биткоины и обратно за считанные секунды, надёжно - без необходимости доверять кому-либо. Регистрация на сайте очень простая за считанные секунды можно как купить, так и продать Биткоины. Забудьте про другие обменники - это самый актуальный обменник на текущий день, и все обменники базирующиеся на таком принципе в конечном итоге преуспеют. Я и многие другие называют данный тип обменников P2P. Вот ещё обменники, актуальные для России, которые работают по такому же принципу:
- http://wm.exchanger.ru - У WebMoney есть существенный недостаток - эта компания позволяет вам работать с Биткоинами только в том случае, если у вас имеется аттестат не ниже начального (который стоит около 300 рублей) - а это лишние бюрократические сложности, а также WebMoney имеет принудительный холд для всех ваших Биткоин средств - 24 часа. Вот так они любят Биткоин. Да, очень удобно покупать и продавать WMX на WebMoney, но мало того что сама система сложна, вам ещё приходится и ждать пока вам вернут ваши Биткоины из обращения WebMoney 24 часа. Не очень дружелюбно по отношению к пользователям. А ведь аттестат проверяют нотариально.
Tears come up when I see how many opportunities we missed
The best years of my life were spent working as a freelancer for US companies & other English speaking companies around the world. I was one of the most successful freelancers in my city for a very long time, because I never was greedy about engineering the paycheck coming to my country from closed systems such as PayPal, Google AdSense & many American companies - who was very often very limited at their abilities to send anything to Russia.
Today, while having significant earnings coming from Google AdSense - I still have to spend hours & days to withdraw this funds, because all the methods Google provides me aren't reliable & not easy at all.
For freelance folks like me, Bitcoin is not only groundbreaking. Its the matter of survival.
For freelance folks like me, Bitcoin is not only groundbreaking. Its the matter of survival.
The cheaper Bitcoins are, the less time we have
The Bitcoins are restricted. In 2020 we will have only 6 BTC as a mining rewarding & 18 million Bitcoins which is very close to 21 million limit.
But the quantities of forgotten Bitcoins are much greater than you think. According to my math I made by my own blockchain analysis - there's 6 million Bitcoins lost (!).
Today we have 13 million Bitcoins - minus 6 million lost. Minus 3 million of those people who will never withdraw their Bitcoins - that means 13-6-3=4 million Bitcoins in circulation.
Only 4 million Bitcoins in circulation WTF?!? Even less, because there's around 2 million among those 4, who will never withdraw their Bitcoins for next 12 months.
Those price tag which you see for Bitcoin at Google or BitcoinWisdom or anywhere else only showing you what people think it should be. Those who sell their Bitcoins has no measure - they're thinking like this "$412 for 1 Bitcoin is still great price, because I've spent nothing on this". And believe me anyone who sells their Bitcoins now at such price - it is mostly this kind of people. And there's plenty of them. Now. But not in future, because when they will meet physical barrier, or fiscal deficit of Bitcoins, that's when their theories about Bitcoin will collide & that's when the price will go crazy.
But the quantities of forgotten Bitcoins are much greater than you think. According to my math I made by my own blockchain analysis - there's 6 million Bitcoins lost (!).
Today we have 13 million Bitcoins - minus 6 million lost. Minus 3 million of those people who will never withdraw their Bitcoins - that means 13-6-3=4 million Bitcoins in circulation.
Only 4 million Bitcoins in circulation WTF?!? Even less, because there's around 2 million among those 4, who will never withdraw their Bitcoins for next 12 months.
Those price tag which you see for Bitcoin at Google or BitcoinWisdom or anywhere else only showing you what people think it should be. Those who sell their Bitcoins has no measure - they're thinking like this "$412 for 1 Bitcoin is still great price, because I've spent nothing on this". And believe me anyone who sells their Bitcoins now at such price - it is mostly this kind of people. And there's plenty of them. Now. But not in future, because when they will meet physical barrier, or fiscal deficit of Bitcoins, that's when their theories about Bitcoin will collide & that's when the price will go crazy.
Wednesday, August 27, 2014
Apple Scenario
Few possible scenarios:
1) Better (unlikely) outcome. Apple adopts Bitcoin. And everybody is much happier than before. Revolution happens instantly in this case! Every Bitcoin project gets escalated immediately! All of your Bitcoin savings grow at unstoppable rate. Your Bitcoin blogs are blowing from viewers. That's financial tsunami.
Because all the iPhone owners immediately burn their fiat money (by exchanging it into Bitcoin).
This could be new era for digital currencies. If they are really doing something like this, it could be bad news for existing Bitcoin userbase, because many will reject such innovation despite all the proprietary handy features presented by the company. But on the other hand you are getting lots of stuff like NFC open key sharing, AirDrop open key sharing, cryptocurrency lawsuits with government - finally someone huge like Apple is going to win lawsuits against little brother government, by acting as a digital government.
Imagine digital currency which can be used for payments inside App Store. Yeah, and when your iPhone is connected to the dock, you're getting extra cash for mining iCoins. Also they are becoming a bomb by backing up support for services like iTrade where you can trade your iCoins for Bitcoins.
And if Apple will do so, we will have one more news - since Google associates itself with Open Source world (because of Android being Open Source), I suppose Google will take development of Bitcoin to the next level opposed to iCoin. This story seems like I've already heard it somewhere. And this I suppose is what we going to get through - Apple Fork against Google Bitcoin. That's how it sounds.
On the one hand we are having two giants competing with each other, on the other hand it doesn't matter whether it will be a fork for Apple or not, because this will finally mean accepting blockchain based technology inside such a huge corporation, and I suppose the price of iCoin will grow like 150 bitcoins after first three months. If Apple accepts the technology like Bitcoin, it will mean new era for another reason - inside the Apple, the employees will receive the salary in AppleCoins. Users will process their payments using built in Wallet.
I propose we start a new decentralised crypto-currency called 'Apple Cash' and eat apple from the inside out. This iMoney idea is EXACTLY what's wrong with apple (in a nutshell). It basically demonstrates the same thing that their appropriation of the .me domain did, and their copyright on anything that starts with a lower-case I does.
It's the same game that companies who're patenting genes are playing: they're basically trying to legalise their ownership of what is essentially public domain property i.e. You, your body, your identity, and now your money, your debts, your personal information and just like .me failed iMoney will fail too.
What these guys apparently don't understand is that money is a public trust, a property that is collectively owned and which loses it's trust, and consequently it's underlying value if any one party has more than a 51% controlling stake, so if they're lauching iMoney to make a profit, it's highly likely to fail. It's certainly no competitor to bitcoin as any currency that is privately issued and controlled, or manipulated by a central authority is not even remotely close to our ideal.
Support Apple Cash: the open source alternative to Tim Cook's greed.
Tuesday, August 26, 2014
Bitcoin - Three-Dimensional Money
In our country everybody pays the rent using fiat. That is A very sad fact. There's nothing wrong with using fiat. But when I give my fiat it disappears. When I don't give my fiat, it is also disappears, because it gets stolen or it gets rotten, wasted, wet. NOthink about this. Yet you have these dollaRS which you give for rent, then if those who accepted your fiat currency - they are keep forgetting about it immediately, and that can cause your money to disappear, because NOrecords kept about fiat money - when you give it, its done. Done Forever. No Proof. Poof. Nothing Left.
ADN THat's HWat IS really annoyign about using fiat.
Bitcoin’s Blockchain is the Future
http://coinbrief.net/bitcoin-fueling-future-platforms-1/
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