Monday 10th November

BITCOIN

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Bitcoin Developers

Bitcoin developer community > 10,000, with half of them in US – Siddharth Verma

 

Github

The most important stat related to Bitcoin is number of Github repos. https://github.com/search?q=bitcoin – Chris Dixon, Andreessen Horowitz

 

Bitcoin Days Destroyed

Early Bitcoin adopters were selling in summer ’11, April ’13, and during last winter … but not today – Tuur Demeester

 

Blockchain

Blockchain just passed 2.4 million users, and in fact in the last three weeks we’ve been seeing record tractions across the entire network. We’re seeing more and more people using bitcoin and their wallets to transact on a daily basis – Nic Cary, Blockchain CEO

 

The Kübler-Ross Model

1: Bitcoin is stupid 2. Money laundering! Drugs! 3: Blockchain technology. 4: Well it’s too late to get in. 5: BTC accepted here

* Stage 3 of Kübler-Ross model: bargaining. One may begin to say things like “blockchain technology.

* Today in Stage 3 Bargaining: “Can We Stabilize the Price of a Cryptocurrency?“. No the market doesn’t care about your hubris. – Michael Goldstein

 

A Dangerous Backlash

Bitcoin is a revolutionary decentralized architecture which can be used for an untold number of incredibly valuable services – including the transfer of financial value.

20% of America’s entire GDP is generated by industries whose main function is to act as a trusted third party (and here I use the word “trusted” extremely loosely). Global payment revenues exceed $300 billion a year. Why is that so big? It’s terrifyingly big.

The sum of the US trust based service sectors, which is directly challenged by bitcoin, is $3.4 trillion a year. Every single year. That’s the size of Germany’s entire GDP.

There will of course be efforts made on the part of the Financial Government Complex to keep the technology at bay. My concern is that what I see in the bitcoin community is a little bit of political naivety. The financial sector is the biggest single contributor to politicians. Obama himself was elected largely because he took so much money from the financial sector. And what did they buy with that money? Well, hundreds of billions of dollars in bailouts, and zero prosecutions for their admitted crimes. They are buying themselves governments. When you can buy a government, you are pretty much a force to be reckoned with.

As Bitcoin adoption continues to expand, significant interests are threatened and early users could face an incredibly dangerous backlash. Please protect yourself, a fight is coming… – Stefan Molyneux

 

 

ALTCOINS

The Russian Ruble Plunges to New Record Low. 

* The currency’s worst week in more than a decade.

* Official data claims inflation at 8.5 percent

Russia may ban the circulation of the United States dollar, according to Farid Akbarov of APA.

A bill has been submitted in The State Duma calling for the banning and terminating the circulation of USD in Russia.

If the bill is approved, Russian citizens will have to close their dollar accounts in Russian banks within a year and exchange their dollars in cash to Russian ruble or other countries’ currencies.

Otherwise their accounts will be frozen and cash dollars levied by police, customs, tax, border, and migration services confiscated.

If the law enters into force, it will be impossible to legally obtain cash dollars in Russia. The ban or termination of the US dollar will not apply to the exchange operations carried out by Russian Central Bank, the Russian government, ministries of foreign affairs and defense, the Foreign Intelligence Service and the Federal Security Service – Robert Wenzel

* 2015 prediction: The bitcoin / dollar tag team will take the ruble’s scalp through speculative attacks – Napoleon Cole

 

Gold

I know a Vietnamese family that barely escaped Vietnam when Saigon fell. They escaped by boat and the ONLY thing that the boat owners would accept was gold for payment, no dollars or any other paper currency.

I know you can’t eat gold, but you can’t eat paper either. Gold will protect your purchasing power, and, it could save your life – Dakota Kid

 

Silver Eagles

The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following “tremendous” demand in the past several weeks – Reuters

 

 

MINING

Proof of Burn

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The fire in a Bangkok suburb reportedly destroyed three buildings that housed Bitcoin mining hardware – Rich Miller

A bitcoin mining facility in Thailand was destroyed in a massive fire and foul play has not been ruled out, according to a local source. The 5-megawatt farm was operated by mining cooperative Cowboyminers and primarily relied on Spondoolies-Tech and Innosilicon hardware, with some additional miners from BitFury and Gridseed.

Cowboyminers was formed by a group of European expats living in Bangkok, who tried to maintain a low profile, but at the same time operated a relatively extensive mining operation.

There has been no official word on the extent of damage suffered by the facility. It is estimated that the farm housed upwards of 2,000 miners when it was destroyed, including about $2m-worth from Spondoolies-Tech alone.

The facility and the machines, which had been paid for in bitcoin generated from the mining operation, was not insured. However, the representative said it has enough resources to get back on its feet.

“We had zero insurance. Everything is our own money,” he said. “We are early adopters and we are not new to mining.” – Nermin Hajdarbegovic

 

 

COMPANIES / PROJECTS

Federated Wiki

Federated Wiki is one of the most important projects going on right now. Get involved! – Bret Victor

Why Does Communication Break?

This sort of thing happens almost every day — someone somewhere has the information or insight you need but you don’t have access to it. Ten years from now you’ll solve the problem you’re working on and tell me about the solution and I’ll tell you — Geez, I could have told you that 10 years ago.

We need to look more deeply into this because this is THE problem of our century.

I fervently believe that amazing solutions to so many of our major problems — renewable energy, education, disease — exist out there somewhere, but they are in pieces. You have a piece of the solution and someone in Bangalore has another piece of the solution. And if those ideas find each other in ten years, we’ll save thousands of lives, but if we can help those ideas find each other in ten months, we’ll save millions.

Introducing Federation

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In a traditional wiki, you have multiple people sharing a single server, and the server is the ultimate arbiter of what’s on the wiki. In a federated wiki, everyone has their own server which stores the records associated with them. But the meaning is made in your browser. Your browser pulls wiki records from all over the internet, and makes them look like they exist on a single server.

If you have a background in network theory, I think you’ll see immediately at how this inversion creates a sort of evolutionary ecosystem where we reach consensus not through arguing who gets to control a page on a specific server, but by seeing which versions of a page spread to where.

There are problems with the way social media works now. My hypothesis is that this federated scheme solves many of the problems – Mike Caulfield

 

uBeam

Imagine never having to plug your smartphone or tablet into a wall charger again. That’s the goal of uBeam. The company is developing a new form of wireless battery charging technology and it’s gaining some significant interest.

uBeam has garnered $10 million in recent Series A investment funding. And the company has raised $12 million overall. All of this money is aimed at developing a technology that allows smartphones and tablets to be charged without being connected to a wall charger or even needing to be near one.

uBeam technology harnesses the power of ultrasonic sound waves to charge a battery – Joshua Sophy

 

Virgin Galactic

We’ve always known that the road to space is extremely difficult – and that every new transportation system has to deal with bad days early in their history.

Virgin Galactic CEO George Whitesides summed up this spirit in the company by saying: “We owe it to the folks who were flying these vehicles, as well as those who’ve been working so hard on them, to understand this and to move forward. And that is what we’ll do.”

Space is hard – but worth it. We will persevere and move forward together – Richard Branson, Founder of Virgin Group

 

 

PRIVACY / SECURITY

Silk Road 3.0

Silk Road 3 is already online – James Cook

 

FBI Promises A Perpetual, Futile Drug War as it Shuts Down Silk Road 2

* Seized sites represent less than a third of darknet commerce

All told, the latest operation represents a much smaller share of the overall Darknet market than the original Silk Road bust last year. Back then, Silk Road was the only major player in the game. But the Darknet economy rebounded from that set back, growing to more than double its original size within a year. There’s currently no reason to expect that the same thing won’t happen again this time – Christopher Ingraham

 

Tor

Wired reports that a total of 414 .onion domains were seized, including not only markets but also money laundering websites, including Golden Nugget, Fast Cash, and Cash Flow. 17 have been arrested in total, though officials have not been forthcoming with details. But 414? Either they found a lot of centralized darknet hosting, or there’s something wrong with Tor. Worrisome – Matt Gilliland

 

Dark Markets

You know this article brings up a very interesting point about the dark net market resolving all issues that the government now (supposedly) administrates: bad product, reputable dealers, etc. The same can be seen in platforms such as eBay and Amazon. Continually the ability for people to immediately isolate bad merchants through economic ostracism and prop up good ones in and of itself is a function that removes the need for much government legislation and oversight.

I am very excited about the prospects of emerging p2p in the real world, as well as the proven ability for the internet to facilitate people handling issues on their own without a government intermediary. I am also terrified that TPTB see this as well, and this is the beginning of them destroying it – Jesse Lohse

 

OpenBazaar

After Silk Road 2.0 Bust, Eyes Turn To ‘Untouchable’ Decentralized Market

* The end of centralized marketplaces is nigh – OpenBazaar

* Estimated a complete version of the software will ship around spring 2015 – Patrick Howell O’Neill

* If you’re thinking about OpenBazaar as Silk Road 3.0, you’re thinking about it much too narrowly. I actually think it’s much more powerful as eCommerce 2.0. – Sam Patterson, OpenBazaar Operations Lead

* Much of the hard work Open Bazaar would have had to do has been done. They are building on very robust platforms and wont have big problems. Open Bazaar is “Silk Road Infinity” It cannot be stopped, or shut down, just like BitTorrent cant be shut down – Beautyon

 

Cryptocat

Cryptocat is one of only four encrypted chat tools to receive a full score on the EFF’s secure messaging scorecard: https://www.eff.org/secure-messaging-scorecard

Nadim Kobeissi

 

 

PLACES

Bali’s Bitcoin Ecosystem Continues to Expand

Bali Bitcoin Binge | A beach in Bali | The CoinFront Bitcoin News

What does Bali have that every other tropical island doesn’t have?

How about an active Bitcoin community that includes 450 members of the Bitcoins in Bali Facebook group, 30 businesses that accept Bitcoin and an upcoming Bali Bitcoin Binge?

Bali is known as a Bitcoin-friendly island that is going to host the Bitcoin Bali Binge in December, features several local businesses that accept Bitcoin, and also has a Bitcoin ATM where you can exchange fiat currencies for Bitcoin – Heidi Hecht

 

 

THE SINGULARITY

My son was surprised to learn that humans *ever* beat computers at chess – Alex Tabarrok

 

The Base of the Exponential

The incredible thing many people don’t get? Technology is just getting started. We’re only at the base of the exponential.

You might think, “billions of global users must mean a mature industry”. No – it means we now have a scalable deployment point. After all, we’re still in the install phase for phones. Next, VR and Bitcoin. Apps necessarily lag installs. But not for long. –Balaji S. Srinivasan, Andreessen Horowitz

 

Skype Translator: Breaking Down Language Barriers

The Skype Translator, derived from decades of research in speech recognition, automatic translation, and machine learning technologies. We are on the verge of having a tool, available to all, that allows us to speak universally with anyone on the planet.

Imagine being able to speak in German, and have your message conveyed grammatically and semantically correct in English. That future is here. – Peter Lee, Microsoft Research VP

 

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Follow me on Twitter @leebanfield1

Bitcoin: 1Jwh6nZiASJf4d3hNytjxqiimWBmEJvJ4S

Bitmessage: BM-2cXjeAykLT7gbjzNHZFnCxdawvyryyb4Nf

 

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