wtf bitcoin - codecore community week with frederick heartline
Post on 14-Sep-2014
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DESCRIPTION
An introduction to the Crypto-Currency explosion covering the various types of currencies, the technical infrastructure behind the currencies and how to get involved within the Vancouver community for developers interested. Freddy is a veteran of the Vancouver technology scene who is spearheading the launch of Decentral, a cryto-incubator geared at providing a space for cryptography based startups. Freddy is also the CEO of CarSurfing, a ridesharing company aimed at connecting festival goers to share a ride.TRANSCRIPT
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?
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
[email protected]@findfreddy
FB: decentral.bangtownhttps://twitter.com/decntrlbang
www.meetup.com/bitcoinvanwww.meetup.com/decentral-bangtown