wtf bitcoin - codecore community week with frederick heartline

bitcoin.codecore

Topics-Who be me?-Bitcoin overview-Core technology -Blockchain -Bitcoin 2.0 protocols and platforms-Major opportunities-Q&A Period

Frederick Heartline

Micropayments:-Credit cards @ 3-5%

-Bitcoin <0.01%

decentral =hacker lounge + incubator

#laptops #open

#Bitcoin...WTF?

What is Bitcoin?

recap: 4 pillars

transparency

frictionlessness

perfect scarcity

decentralization

“Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear in among others, and confused the heck out of the rest of us.”

-Senator Tom Carper (D-DE)

word of mouth =

organic growth

Volatility Issue:

-Last 14 days between $339-538

Mt. Gox Fiasco

-a titan-a dead titan

-centralized = vulnerable-bitcoin resilience

Recommended: -1 BTC per person

-or 1/5th of RRSP or 401k

(high risk portion)

Opportunity:-retail (ATMs)

-wholesale-buy and hold (cap gains)

-other financial products & offshoots (owning bank)

Not so much opportunity:

-Arbitrage -Day Trading

Sharing Economy+

Cryptocurrency=

massive improvements

Core Technology:

The Blockchain

Algorithms:

-SHA256-SHA3-Scrypt-Scrypt-n

Bitcoin Programming Language:

-core = C++-clients: java and python are

popular

-open source

What is the Blockchain? http://youtu.be/QzDO4oZWtE

Bitcoin 2.0 Protocols:

-Colored Coins-Mastercoin-Ripple-Monetas (“Open Transactions”)-Ethereum-Counterparty-Protoshares-Sidechains

Your Major Opportunities:

-Apps that utilize blockchain technology-Decentralizing everything

Frederick Heartline

heartline@carsurfing.com@findfreddy

FB: decentral.bangtownhttps://twitter.com/decntrlbang

www.meetup.com/bitcoinvanwww.meetup.com/decentral-bangtown