Monday 2nd June

BITCOIN

What is Money?

Bitcoin forces you to ask “what is money?”

Once you ask yourself that, and you start to explore that, you have now jumped down the rabbit hole. There is no coming back, you just took the red pill.

I’ve met so many people that didn’t know about Austrian Economics, they didn’t know about the Federal Reserve, they didn’t know about metals, they didn’t know about monetary history at all until they learned about bitcoin.

These banks are taking up real estate on every corner. Bitcoin is going to make banks what BitTorrent made Blockbuster. We don’t need DVDs anymore. We don’t need physical digital media. Same thing with currency – Bit’ n’ Mortar

 

Trusted Third Party Fees

20% of U.S. GDP is generated by industries who act as a trusted third party, and Bitcoin is disrupting them – Petri Kajander

 

Bitpay

Bitcoin payments processor BitPay has revealed it is now processing an average of $1m worth of bitcoin payments per day.

BitPay processed an estimated $110m worth of bitcoin transactions last year and at this rate it stands to process three times as much this year. NewsBTC reports that the company hopes bring as many as 100,000 merchants in its fold by the end of the year – Nermin Hajdarbegovic

 

Wallets

The number of bitcoin wallets has increased eight-fold since last year, and more than 5 million bitcoin wallets are currently in use today from major providers such as Blockchain, Multibit and Coinbase – Pete Rizzo

 

 

ALTCOINS

Altcoin Speculation

I couldn’t give a shit about all this altcoin speculation stuff. I think it’s all rubbish, including the really unfortunate idea to release ZeroCash as an altcoin – Greg Maxwell

 

It’s difficult just to find 10 altcoins that aren’t blatant premine /instamine/ fastmine pump and dump scams, never mind 10 coins that genuinely improve on bitcoin.

Founders who have a decent name, brand, logo (blackcoin) or a seemingly decent feature (darkcoin) could not resist the temptation to cash in on a quick instamine pump and dump over a couple of months, rather than build a coin up that aims for real merchant adoption over a period of many years.

Bitcoin is a remarkable experiment. Despite having 5 years to create a better model, most competitors have failed to balance the tough problem of allocating a coin in a sustainable way.

Even after 5 years, nothing comes close to bitcoin in integrity and utility – Lee Banfield

 

XC

XC anonymizer details released… yet another centralization solution. Unimpressed – Bryce Weiner

 

 

MINING

Mining Industry Meeting Shenzhen

More than 50 representatives from China’s key mining equipment manufacturers held a first-of-its-kind, three-day gathering in Shenzhen this week, demonstrating just how integral the region is for the world’s digital currency hardware infrastructure

As analyst Tim Swanson wrote in his recent piece ‘Bitcoins: Made in China’, mining power is coalescing in China due in part to power costs, which are often subsidized and average around 8 cents/kWh (or lower if you have the right connections)

Proximity of mining farms to the factories assembling the hardware in Guangdong Province is also a bonus, reducing shipping times and costs – Jon Southhurst

 

 

COMPANIES

Uber

Intense competition for uber investment — talks value uber as high as $17b – Evelyn Rusli

 

Microsoft

Skype video phone call at codecon with real time voice translation German to English. Awesome. Future. Well done.

Skype voice language translation product will be launched this year – Mark Suster, Upfront Ventures

 

I can’t help but be reminded of Google no longer understanding how its systems are learning to identify objects in photos so accurately – the technology is hugely impressive and, in developing a mind of its own, kind of disturbing – David Meyer

 

 

PRIVACY

CryptoParty

The grassroots CryptoParty movement began in late August 2012 as a way to introduce the basics of practical cryptography – Tor, full disk encryption and OTR/off the record messaging – to the general public. Snowden used the handle “Cincinnatus” to organize the event, which he announced on the CryptoParty wiki — a website for all events with the name being organized all over the world — and to the HiCapacity hackerspace, which hosted the gathering.

As Kevin Poulsen wrote in WIRED last week, the fact that “Snowden organized such an event himself while still an NSA contract worker speaks volumes about his motives.” Here is someone who, while preparing to take on an incredible sacrifice, took the time to teach a group of locals how they could use different security tools to better protect themselves from spies and the growing surveillance state. I am glad he did. I am proud to have been a small part of it – Runa A. Sandvik

 

I may have lost my ability to travel but I’ve gained the ability to go to sleep at night – Edward Snowden

 

 

PLACES

Bali

Tourists traveling to the tropical holiday island of Bali would “only need to bring bitcoin” under a new initiative called ‘Bitislands’ that is aiming to convince all local businesses to accept the digital currency, including money changers.

This is the first attempt to convert an entire island

The project’s first goal is to set up an office and Bitcoin Information Center in Bali, and the island’s first offline bitcoin exchange. The Bitislands team is inviting bitcoin fans worldwide to support the initiative through donations, spreading the word and even volunteering in Bali itself.

Bali is probably a more perfect location for mass bitcoin adoption than most would assume. It has begun to attract digital nomads and other entrepreneurs from around the world as the perfect place to run a laptop-based startup – Jon Southurst

 

 

THE SINGULARITY

Exponential Technologies

This technology has the potential to disrupt a $10 trillion global manufacturing industry – Peter Diamandis, Singularity University

 

Life Expectancy

The British gerontologist Aubrey de Grey considers himself a “simple medical researcher,” but his research is about fiddling with cells to stop ageing in human beings, and potentially postponing death indefinitely.

He believes that tackling the individual illnesses that haunt old people’s lives is a fundamentally flawed strategy; the right course of action is to act at the cellular level to prevent ageing from setting off those illnesses in the first place. His Silicon Valley-based foundation-cum-laboratory, the SENS Research Foundation, is completely devoted to this feat.

In the past, de Grey’s views were often met with skepticism or hostility, when not openly guffawed at. That has not completely changed, but the idea that ageing should actually be regarded as a disease, and that it might even be treated as such, is increasingly gaining ground – Gian Volpicelli

 

It’s going to happen, it’s just a question of when. The work I do is simply speeding up the inevitable.

But it is very important to me, because for every day that I bring forward the defeat of ageing, I’m saving 100,000 lives100,000 lives: thirty World Trade Centers. And I’m very happy about that. – Aubrey de Grey

 

bitcoin_logo_small-150x150

1Jwh6nZiASJf4d3hNytjxqiimWBmEJvJ4S

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: