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Bitcoin Workshop

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by

Brad Templeton

on 18 April 2018

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Transcript of Bitcoin Workshop

Give Brad Money!
Bad Penny
Inherent deflation (Only 21 million Bitcoins ever)
Highly volitile
May not be legal everywhere
Highly wasteful mining
Attracts underworld
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
Good Penny
Zero or low fees
Solves important collaboration program
You need trust nobody
Where to spend?
Lots of sites list merchants
Overstock.com
Virgin Galactic
TigerDirect.com
Domain names
VPNs
Humble Bundle Games
Charities
Stakeholders:
1 Banks & Payment Systems
2 Governments with free currency Governments with pegged currency
3 Merchants
4 Buyers
5 The Taxman
6 Underground Economy
7 Police
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
blockchain.info
Public ledger
Agreed to by everybody
What transactions and what order
What makes an exponential revolution?
Insatiable market demand for
doubling, little demand for
incremental improvement
Open,
Hackable
Platforms with a
Culture of Innovation
Smart
Contracts
Open, hackable
Money
Title
Transactions
Contracts
Is making a more efficient banking system what this is about?
Issues
Mining:
General Purpose
vs. Custom

All the value going to custom mining hardware companies
Irrevocable transactions and ease of use
Craig
Wright
Bitcoin
vs.
Blockchain

Private
Blockchains?

A secure ledger
Records transfers of title to virtual tokens -- and what they represent
Probably
public
No single authority is trusted
Needs something to power the trust network
The first Blockchain
Tokens are used as currency
Nobody is trusted
The biggest, most valuable, most trusted, most famous
It has
brand
Network powered by giving coins to those who secure it
Other cryptocurrency
Various different rules
Privacy
Mining
Smart Contacts
Equity Tokens
IPO with no or few rules
Must obey SEC
Most don't
Utility tokens
Must be redeemable for value
Often bought like equity
Real Uses
Foreign exchange
The unbanked
Stock exchanges
Land title registry
Escrow
Supply chain verification
Elections & Government
Compliance audits
Proof of date
Proof of copyright/ownership
Medical records
IoT
Energy trading
Drug & product authenticaiton
Digital ID
Most of Dubai government
Loyalty points
Public Blockchain
Private Group Blockchain
Piggy-back blockchain or side-chain
Hype and
Crazy prices
for bitcoins
A fixed number of bitcoins, but an arbitrary number of Cryptocoins. Scarcity is illusory. It is only the brand and the hype. Most things with "blockchain" in their name are fake or misunderstand it.
Bitcoin has some value, and it's already high
Most investors are yet to get interested
Whether today's price is correct or not, it will still go up as interest grows
Therefore: HODL
ICO: IPO or fundraising without the regulation and barriers
Fraudfest, disruption of Wall Street and Venture Capital, or both?
But: Bitcoin is the first, but not the last
The hoarded coin is not useful as money
Lots of problems with initial design
Most of the money made will be lost by others
Rides not Cars
Got 22.4 BTC
Blockchain in Real Estate
Better, more transparent listings
Free Escrow with
Smart Contracts
Digital Reputations
Quick due-dilligence
Smart lease
contracts
Insurance and
Financing
ICO based
project financing
Construction
Supply Chain
Verification
Dad, can I have $8,000 in Bitcoin?
The purpose of the city
Full transcript