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
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bitcoin.codecore
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Topics-Who be me?-Bitcoin overview-Core technology -Blockchain -Bitcoin 2.0 protocols and platforms-Major opportunities-Q&A Period
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Frederick Heartline
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Micropayments:-Credit cards @ 3-5%
-Bitcoin <0.01%
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decentral =hacker lounge + incubator
#laptops #open
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#Bitcoin...WTF?
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recap: 4 pillars
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transparency
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frictionlessness
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perfect scarcity
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decentralization
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“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)
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word of mouth =
organic growth
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Volatility Issue:
-Last 14 days between $339-538
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Mt. Gox Fiasco
-a titan-a dead titan
-centralized = vulnerable-bitcoin resilience
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Recommended: -1 BTC per person
-or 1/5th of RRSP or 401k
(high risk portion)
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Opportunity:-retail (ATMs)
-wholesale-buy and hold (cap gains)
-other financial products & offshoots (owning bank)
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Not so much opportunity:
-Arbitrage -Day Trading
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Sharing Economy+
Cryptocurrency=
massive improvements
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Core Technology:
The Blockchain
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Algorithms:
-SHA256-SHA3-Scrypt-Scrypt-n
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Bitcoin Programming Language:
-core = C++-clients: java and python are
popular
-open source
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What is the Blockchain? http://youtu.be/QzDO4oZWtE
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Bitcoin 2.0 Protocols:
-Colored Coins-Mastercoin-Ripple-Monetas (“Open Transactions”)-Ethereum-Counterparty-Protoshares-Sidechains
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Your Major Opportunities:
-Apps that utilize blockchain technology-Decentralizing everything
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Frederick Heartline
[email protected]@findfreddy
FB: decentral.bangtownhttps://twitter.com/decntrlbang
www.meetup.com/bitcoinvanwww.meetup.com/decentral-bangtown