Bitbrief #3

News

  • Microsoft starts accepting Bitcoin
  • This move from a tech giant, along with Dell and Newegg already accepting Bitcoin, puts pressure on other large tech companies to start looking into Bitcoin.
  • Price moved +4% immediately following annoucement, similar to when Paypal made a similar announcement:

Specific use cases


What Blockchain 2.0 tech will do for the internet

  • “the current internet is layered with several piecemeal systems which have accreted over the years: the fact so much internet traffic goes via the US is because it was invented there; the certificate system which allows secure sites to be accessed is driven by the interests of a few large commercial browser companies, and so on. The end result, Vinay Gupta says, is a hacked together network that is inefficient, insecure, and subject to invisible political expediency and control. Ethereum is a system that its developers hope will change all that, heralding a revolution in the way we use the net – allowing us to do everything online directly with each other, not through the big companies that currently mediate our online interaction and whom we have little choice but to trust with our data.”
    • So Blockchain 2.0 tech like Ethereum will do for interpersonal connection what Bitcoin is now doing to finance: cut out the middlemen. Right now corporations like FB and Google are the prime curators of online relationships. Blockchain tech will increasingly enable us to connect peer to peer.
  • Openbazaar Blog Posts
    • Decentralized marketplace, i.e. a free, uncensored network where buyers and sellers can directly communicate. There will be customer reviews & ratings, and independent third-party arbiters to settle disputes.
    • openbazaar.org
  • DAPPs currently being developed, among others (see: http://www.dappsfund.com/):
  • Ethereum
    • Decentralized consensus-based computing
  • Maidsafe
    • Decentralized Data Storage
  • BlockAuth
    • Creating a federation of OpenID providers
  • La’Zooz
    • Open source P2P ride sharing
  • Bitsign:
    • Blocksign is a blockchain service for legally signing any document, contract, or agreement.
    • Estonia just approved something similar, e-residency. Taken from e-estonia.com: e-residency gives secure access to Estonia’s digital services and an opportunity to give digital signatures [think a unique private key, similar to one for Bitcoin] in an electronic environment. Such digital identification and signing is legally fully equal to face-to-face identification and handwritten signatures in the European Union.
  • The Future will be Decentralized Tedx talk
    • This talk was given at a local TEDx event, produced independently of the TED Conferences. Tech entrepreneur and mathematician Charles Hoskinson says Bitcoin-related technology is about to revolutionise property rights, banking, remote education, private law and crowd-funding for the developing world.
  • Cryptoart.com
    • We’ve all heard the story of how Bitcoin will change the world. It is definitely romanticized and a highly emotional topic for many people. Now those feelings can be expressed in functional art!
    • “We seek amazingly talented artists and encourage them to create imagery that comments on the crypto culture. Then, we publish those images as limited edition prints that can store digital currency. Like Bitcoin, Cryptoart has utility. Cryptoart can be loaded, unloaded, and reloaded with currency, collected or traded in person, stored or framed for your enjoyment.”

Regulation
  • From the hitbtc.com blog, summing up my thoughts on recent developments in the space quite well:
    • Companies like MasterCard have come out publicly against crypto currencies, which is fitting for any industry that know it will not be able to compete going forward. This is actually a great sign for Bitcoin and is the better case scenario than companies like that looking to adopt it and integrate it. The financial industry is definitely in need of a fresh start. No news yet on what will happen with the NYC Bitlicense proposal but Australia has made some pretty strict tax rules, which is encouraging some companies to move. History just continues to rhyme as the movement of people and capital will always attempt to find maximum freedom.

Resources

Miscellaneous thoughts

  • Physical cryptography via pick-locking
    • I’m actively looking into pick-locking sets to purchase and use as a hobby. Locks are great, but not that safe. The same basic pin design that is used in many applications (doors, lockers, etc.) has been used for over two millenniums. So it’s nice knowing most people are good people and don’t exploit this to break into your house, room, safe, etc., but it is also pretty terrifying. Bitcoin’s cryptography is so much more secure than this, thankfully.
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