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Transcript of Bitcoin Workshop
Inherent deflation (Only 21 million Bitcoins ever)
May not be legal everywhere
Highly wasteful mining
Some technical issues
Probably will be succeeded
There is no there there
Hard to keep secure and make easy to use
Global and outside governmental control and some taxation
No central bank to meddle with it or fix it
Sender and recipient are anonymous (or maybe not)
Transactions are irrevocable
Quicker/Slower than many instruments
Easy online payment, theft and loss
A Two Sided Coin
Zero or low fees
Solves important collaboration program
You need trust nobody
Where to spend?
Lots of sites list merchants
Humble Bundle Games
1 Banks & Payment Systems
2 Governments with free currency Governments with pegged currency
5 The Taxman
6 Underground Economy
What is an address?
What is a wallet?
Plus 25 Bitcoins
Plus 25 BTC
People are anonymous but transactions aren't
No repudiation or ability to fix errors
Probably not the final currency
Lots of legal battles
Lots of startup investment
Agreed to by everybody
What transactions and what order
What makes an exponential revolution?
Insatiable market demand for
doubling, little demand for
Platforms with a
Culture of Innovation
Is making a more efficient banking system what this is about?
All the value going to custom mining hardware companies
Irrevocable transactions and ease of use