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201  Bitcoin / Bitcoin Discussion / The Remarkable Rate of Bitcoin Adoption on: February 12, 2015, 09:27:26 PM
Adoption of new technologies has seen a reliable increase in rate in the last 100 years. It took only seven years from the first web pages in 1991 for the web to be used by a quarter of the American population. That compares with 46 years for electricity, 35 years for the phone and 26 years for television. Bitcoin, which can be seen as a system built on top of the internet, has been displaying patterns of adoption which make the internet pale in comparison to the speed at which people are experimenting and using digital money. As a study done by the Federal Reserve Board of Washington, D.C. shows, the number of daily users is likely to have grown exponentially in the past few years. In particular, coarse calculations suggest that the user base has doubled every 8 months for the last 3 years. Much in the same way people now refer to physical mail as “snail mail”, will we soon be referring to physical and state-controlled currency as “snail money”?

From an adoption perspective, bitcoin has a great momentum in that it conveys the whole product concept. When you get down to the finer details, bitcoin clearly is more than just a lone financial instrument. It’s a framework to decentralize traditional business models whose power has been pinned to centralized monopoly. Libertarians love it, and rightfully so; a creation that breaks the shackles of dependence like never previously in man’s history has the potential to reduce international economic friction and lubricate the cogs of financial markets, not to mention transition away from national economies which operate from toxic debt-based systems.

Read the full article on Diginomics.
202  Other / Politics & Society / Promises & Perils of a Bitcoin Based Society on: February 12, 2015, 09:23:20 PM
If businesses and governments are able to take full advantage of the innovative features digital payment systems make possible, a bitcoin based society would allow a far more interconnected globalized economy while the speed of exchange between businesses and individuals would reach escape velocity.

In comparison to today’s so-called global economy, the behavior of resources would operate on a friction-less, apolitical system of wealth transfer. Because bitcoin transactions do not concern themselves with the agenda of governments, currency could become detached from political institutions and their related procedures. While bitcoin for the time being remains outside the realm of feasibility for citizens who are not computer competent, they may opt to trust external institutions to store and manage cryptocurrency on their behalf, be these institutions private or government establishments. Because of this, regulation would largely be targeted at the exchange and money services businesses in order to control the identity and flow of cryptocurrency.

Read the full article on Diginomics.
203  Other / Politics & Society / Why Untaxed Bitcoin is a Human Right on: February 12, 2015, 09:18:35 PM
War is not funded overtly, but rather discretely and stealthily through an array of macroeconomic looting. A war is first waged against its own people in the form of economic initiatives and later against a foreign threat through military action. Offensive militarization requires dipping into the homeland honeypot, almost always alongside a healthy combination of media propaganda which simultaneously moves the population towards a mindset of fear and/or seduces them into believing that this action is heroic and patriotic. Because of this, it then becomes a social taboo to not be fearful of the consequences of external threat (you are aloof) and it also becomes taboo not to want to fight (you are a coward). The state does not serve to save the people from catastrophe, nor does it exist to revitalize the patriotic spirit of a nation, it cares nothing of the subjects it governs. It exists to advance the agenda of the conspiring exclusive who issue the orders from the very beginning.

There is no glory in fighting violent battles and there exists no fear but our own self-imposed limitation. The entire facade is an illusion; an act of smoke and mirrors.

Read the full article on Diginomics.
204  Economy / Economics / Bitcoin vs Gold: The Age Old Debate on: February 12, 2015, 09:12:50 PM
The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered discussion circles among investors with increasing interest. Gold has been used as a form of currency and trade for thousands of years, but as we will show, bitcoin may be the kind of financial breakthrough to replace it.

Early on, seasoned investors began questioning the legitimacy of bitcoin value and wondering how such a commodity could have intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.



In order to properly analyze the value of bitcoin vs gold, we must clarify which attributes of gold are valuable and prop them up against the promise of bitcoin. When we measure the implications of today’s economic environment, it is clear to see that bitcoin is gold for the 21st century, or as some pundits have advocated, a ‘digital gold’.

Read the full article on Diginomics.
205  Economy / Economics / Why the Economic Principles of Bitcoin Are Game-Changing on: February 12, 2015, 09:07:30 PM
Keynesian economists have stated that a deflationary currency, one which increases in purchasing power relative to other goods over time, is inherently negative for an economy because it creates a financial ecosystem which entices individuals and businesses to save money rather than using it to create jobs and invest in companies. They claim that a deflationary currency incentivizes the individual to adopt a buy and hold strategy because they know it will be worth more tomorrow than it is today. This is often referred to as hoarding and it can lead to lower interest rates and increase long term investments. In doing so, this decreases the velocity of money in the economy, or the speed at which units of money change hands. In a healthy economy, a high velocity of money is a very good thing, so a decrease in velocity would be unfavorable. Because the monetary base of bitcoin cannot be expanded, the currency would be subject to severe deflation, and this is something which we have seen to be true thus far.

The Austrian school of thought counters the idea that deflation is inherently negative, claiming that as deflation occurs in all stages of production, entrepreneurs who invest benefit from it. As a result, profit ratios tend to stay the same and only their magnitudes change. In other words, in a deflationary environment, goods and services decrease in price, but at the same time the cost for the production of these goods and services tend to decrease proportionally, effectively not affecting profits.

Read the full article on Diginomics.
206  Other / Off-topic / Discerning the Bitcoin SHA-256 Hash Function on: February 12, 2015, 09:04:13 PM
The bitcoin SHA-256 hash function is a cryptographic standard originally designed by the NSA for industrial-strength reliability for secure data communications. The secure hash algorithm is implemented in a variety of widely used security applications and protocols, including SSL, PGP, and SSH. Bitcoin uses SHA-256 for verifying transactions and calculating proof-of-work or proof-of-stake in the mining process.

Cryptographic hash functions are mathematical operations run on digital data; by comparing the computed “hash” to a known and expected hash value, a person can determine the data’s integrity. Computing the hash of a downloaded file and comparing the result to a previously published hash result can show whether the download has been modified or tampered with.

Read the full article on Diginomics.
207  Bitcoin / Bitcoin Discussion / Don't Let Anyone Tell You the Identity of Satoshi Nakamoto Does Not Matter on: February 12, 2015, 09:01:20 PM
So who is Satoshi Nakamoto? Information on their identity remains unknown. Bitcoin has since evolved without their input, put forth for anyone willing to experiment with the technology. Satoshi’s last call was to deemphasize his unknown identity.

When Satoshi had the basic foundation of the bitcoin client built, he transitioned the responsibilities to a group of early enthusiasts and withdrew back into the shadowy depths of anonymity. Nothing tangible has been heard since, although they’re widely regarded to still be alive and keeping a pulse on bitcoin developments.

Read The Full Article
208  Other / Off-topic / Re: New Forum Around Digital Society on: February 08, 2015, 09:19:05 PM
Also, if you are a hybrid software engineer/hacker type, we are looking for you on a new project.
209  Other / Off-topic / New Forum Around Digital Society on: February 08, 2015, 01:14:14 AM
With the advent of bitcoin we are transitioning to more than just digital money. The blockchain brings with it the potential for transcendence of sovereignty. Opt out of the sinking national economy system and buy into a system of digital economies. Join the Diginomics society.

Fellow bitcoiners and researchers, I invite you to join our growing forum over at Diginomics where we share relevant happenings in the bitcoin revolution.

If you are the tech savvy type of person who is looking to maximize your benefits of a transcendence to an age very different than the one today, consider checking out the forum and getting involved with the community. If you have a flare for writing, we are looking for content producers. If you have experience being a moderator of a SMF forum, we are looking for you as well.

Among our products are a recently-released book on bitcoin entitled The Bitcoin Revolution: An Internet of Money. Currently, we are in development of a cryptocurrency web application which will provide a means to send and store securely, bitcoin across the world wide web using aliases rather than a bitcoin wallet address.

If your focus is to empower yourself in the transcendence to an age of diginomics, I invite you to check us out.
210  Bitcoin / Bitcoin Discussion / Bitcoin Will End the Nation State on: January 19, 2015, 03:27:54 PM
Satoshi Nakamoto set in motion the unraveling of the nation state and the end of central banking – two closely related institutions that have directed history since history has been recorded. When we come to understand the economic and technological implications of bitcoin, we arrive at a somewhat startling yet undeniable conclusion: that bitcoin will end the nation state.

Read The Full Article
211  Other / Politics & Society / Bitcoin Will End the Nation State on: January 19, 2015, 01:03:09 PM
Could a mod please delete this thread as I have reposted in elsewhere and see no reason to have duplicate content.
212  Bitcoin / Bitcoin Discussion / What Bitcoin Related Content Do You Want to See More Of? on: January 12, 2015, 05:13:43 PM
I am looking to expand on the breadth of ideas to create content on when it comes to bitcoin. Therefore, I thought it a good idea to reach out to the community and ask 'What interests you about the concept of bitcoin?'. In particular, which areas would you like to hear more about and discuss on?

These topics can be anything related to the way bitcoin technology will alter the way we store and manage information, the economic implications of a stateless currency, the disruption to come from bitcoin etc. What we are also looking at in detail is information systems which automate and make obsolete past traditional systems of manned operation. These can be systems which are inefficient or systems which are simply ripe for disruption.

Content creation suggestions can come in any form whether it be videos, articles, polls, campaigns, I want to hear what interests you so that I can create content filling that need.
213  Other / Politics & Society / Re: Why Bitcoin Will End the Nation State on: January 06, 2015, 08:40:29 AM
1. Bitcoin is independant of our national economies.
2. Bitcoin is an untaxable money supply.

BS! China and Russia banned it. It is taxable every where else, e.g. the USA.

Many newcomers to bitcoin question its 'killer application'. But bitcoin's key use has been here since its very inception -- the end of central banking and the unravelling of the nation state.

Three reasons why bitcoin will end the nation state:

1. Bitcoin is independant of our national economies.
2. Bitcoin is an untaxable money supply.
3. Bitcoin transitions the nature of violence.

Watch the full video at https://www.youtube.com/watch?v=p5xdQPdpLGo&list=PLpWIYlii1DeYim3a9gJDSVh3PZn5kx2YQ&index=1

1. Bitcoin, as a valued money, corresponds (at least, in part) to “meatspace” economic activity and, therefore, your “national economies.”

2. Transaction fees are a sort of tax, for they are demanded of any that participates in that economy for the supposed sake of its maintenance and “the greater good” of “the end of central banking.”

3. Violence transpires about conviction and a lack thereof: those of whom conviction has demanded violence will be moved to violence still; those of whom a lack thereof would permit them violence will persist in their yielding thereunto.

Many newcomers to bitcoin question its 'killer application'. But bitcoin's key use has been here since its very inception -- the end of central banking and the unravelling of the nation state.

Three reasons why bitcoin will end the nation state:

1. Bitcoin is independant of our national economies.
2. Bitcoin is an untaxable money supply.
3. Bitcoin transitions the nature of violence.

Watch the full video at https://www.youtube.com/watch?v=p5xdQPdpLGo&list=PLpWIYlii1DeYim3a9gJDSVh3PZn5kx2YQ&index=1

Sweet dreams my cosmopolitan friend. Isn't it?

Your "reasons" are wrong.

1. BTC isn't independent. It's speculative vehicle and its value basically pegged to fiat.
2. It's taxed everywhere except in countries where it's banned or still under the radar.
3. Violence is for resources. BTC is just yet another resource. No difference.

This argument is flawed... bigtime.

There isn't and I doubt there ever will be an "untaxable" money supply.

1. The price fluctuates and speculators peg its value against the USD. However, the miner who creates new coins themselves, then spends those coins to buy goods, does not touch national currency. The bitcoin economy can, and does (but not always) operate independent of our national economies.

2. For the time being, countries have forced bitcoin into existing frameworks such as a property asset or a commodity. However, who does a miner pay taxes to when he conducts a transaction directly in bitcoin? There exist so many legal loopholes that trying to tax bitcoin as is, is essentially plugging holes in a sinking ship. The only way taxation would be levied effectively is through a supranational type of regulation (perhaps through technology itself rather than judicial) which would look nothing like our national taxation strategies.

3. Currency derives a large part of its value from the force capable of being inflicted or defended from its military force. Think about which military force creates the most violence in the world? When people are using a money supply which cannot be manipulated and money printed, the military industrial complex which these forces thrive on will wither up (not completely disappear), and experience a radical downsizing.

These 3 reasons, among others, are why bitcoin will end the nation state.

Delusional to think a new technology can destroy a government.

Delusional? Consider the technological innovation of gunpowder in feudal times. Organized religion was largely held as the governing body in these times, and we know what happened in the wake of this revolution. Technological developments created strong incentives to downsize governing institutions and lower their costs. A similar technological revolution is happening before our eyes, and is destined to downsize radically the nation state early in the new millennium.
214  Other / Politics & Society / Why Bitcoin Will End the Nation State on: January 04, 2015, 09:29:04 PM
Many newcomers to bitcoin question its 'killer application'. But bitcoin's key use has been here since its very inception -- the end of central banking and the unravelling of the nation state.

Three reasons why bitcoin will end the nation state:

1. Bitcoin is independant of our national economies.
2. Bitcoin is an untaxable money supply.
3. Bitcoin transitions the nature of violence.
215  Economy / Economics / Why Bitcoin is an Advantage for Africa on: December 28, 2014, 07:21:45 PM

When you consider traditional forms of money — US dollars, the Euro, Chinese Yuan – you realize these currencies are not backed by anything more than a promise that they will be worth something. Only recently has our money discontinued being backed by gold and other physical assets that could be audited for. People using these forms of money with nothing backing them but debt know that they can purchase food or shelter with them and, thus, it holds their trust. Similarly, once people begin to realize that bitcoin is accepted as a form of payment, it will see a rise in value and increasingly be seen as a legitimate currency. Under this pretense, it is clear that currency is dependent upon a network of institutions that are willing to accept it and investors confident enough to hold it as a medium of exchange.

If bitcoin acceptance reaches a critical mass where necessities of food, shelter, and clothing can be bought with it, it will likely have reached a tipping point where it displaces national currencies. In this scenario, many areas of the world would be leapfrogging banking infrastructure and traditional money wire transfers. Most notably this would describe the financial landscape in developing economies such as the nations of Africa.

BITCOIN LEAPFROGGING BANKS

Leapfrogging is described as a theory of economic development which skips inferior or obsolete technologies in order to move directly to advanced ones. Take, for example, phone coverage in African countries. Landlines and grids for household use were never fully developed because, by the time Africa came into market view, mobile phones were the new paradigm of telecommunications and hence, the entire infrastructure for household landlines was leapfrogged by cellular technology. Similarly, bitcoin technology could leapfrog the banking infrastructure of western economies and go directly to a new financial paradigm and serve the needs of the vast number of the unbanked in these regions. All that would be required on behalf of the citizens is a mobile device with internet connectivity.

Read the full article
216  Bitcoin / Bitcoin Discussion / The Incoming Surveillance of Bitcoin on: December 15, 2014, 05:18:56 PM
In many ways, the internet, which was originally seen as a tool of expression has also come with the vulnerability of being a perfect outlet for surveillance. Our online, mobile, and electronic communications are under constant surveillance from institutions with vested interest in collecting an assortment of important political, personal, and economic data. Surveillance of bitcoin promises a vast amount of economic data and with it, the possibility of tracking spending patterns which leads to gathering political and personal data as well. Could it be that technologies such as bitcoin, which initially allows greater individual freedom, will be subverted by institutions of power into a twisted form of panopticon?

Privacy is a non-negotiable human right. It is important to identify matters of national security, but having the right to privacy is more valuable than destroying both privacy and the potential to do harm for the false promise of ‘security’. We are a community floating on a mote of dust somewhere in the universe. No one can promise you security. I would even go as far to say anonymity is a human right as well, because at the moment we come into this world we have no identity attached to us but the sole characteristic of being human.

The difference in determining if your spending is anonymous is where your real-world identity is not linked to the wallet address. If it is linked, any transaction you make can be followed through the blockchain and your spending habits can be monitored, a most opportunistic scenario for surveillance purposes.

The fact that bitcoin is digital is precisely why it will lead to an increase in surveillance of payments. Although the bitcoin public ledger of transactions carries with it the potential to be used anonymously, most people do not and will not use it this way. In truth, it is very trivial to destroy the anonymity of your bitcoin wallet into a fully translucent view of your financial life projected to whoever cares enough to know.

If bitcoin is adopted by a more mainstream audience, and if not used in conjunction with some third party service, people’s spending habits will be as hidden as their social media activity or browsing history is today. The idea remains that the concept of the blockchain ledger itself is neither good nor evil for privacy, but the actions the user takes to preserve anonymity and withhold sensitive data will determine the utility they receive while using it.

Read the full article HERE.
217  Bitcoin / Bitcoin Discussion / Re: elaborations, esseys, articles about bitcoin/blockchain technology on: November 29, 2014, 03:02:23 AM
The Bitcoin Revolution: An Internet of Money
218  Bitcoin / Bitcoin Discussion / Bitcoin as Free Speech on: November 27, 2014, 02:19:17 PM
In 1991 a man named Phil Zimmerman released a software messaging system which could offer people a way to send text-based communication in a secure manner backed by the mathematical principles of public key cryptography among a host of contemporary hashing and compression standards. Zimmerman felt a need to create something that would give users an outlet for information confidentiality in an age where increasing threats of privacy invasion meant online communications were subject to prying eyes of government authority. These authorities were overstepping their boundaries of legal jurisdiction and attempting to exercise coercion in a domain where their actions came at the cost of information freedom. Originally designed as a human rights tool, the software encryption came to be published under an open-source license and adopted as an IETF standard. This software would be called ’Pretty Good Privacy’, or PGP for short.

The publishing of the PGP software landed Zimmerman in a three-year criminal investigation by the US Government, who classified the encryption as military-grade weaponry. As they claimed, the distribution of source code represented a “munitions export without licence”. During this time, encryption procedures which comprised keys larger than 40 bits were categorized as munitions under the US export regulations. The smallest keys PGP used were 128 bits, thus at the time they fit within the legal definition of munitions. If convicted, the penalties for violation were substantial.

Years before the government had placed encryption, a method for scrambling messages so they can only be understood by their intended recipients, on the United States Munitions List, alongside bombs and flamethrowers, as a weapon to be regulated for national security purposes. Companies and individuals exporting items on the munitions list, including software with encryption capabilities, had to obtain prior State Department approval.

—Electronic Frontier Foundation: EFF’s History


Zimmerman argued the case in a creative manner, publishing the entirety of the source code in a physical book, relying on the principle that weapons, bombs, and software may restricted goods and were justly under the regulation of the state. Books however, were protected under first amendment rights. In early 1996 the case was closed with no charges lain against Zimmerman or any subsequent party. Since that time, PGP has gone on to become the most widely used and trusted email encryption.

Economic Munitions
In the same way which PGP was originally classified as a sort of weapon, could bitcoin as well be seen as a type of munitions? Given that bitcoin is based upon the same public key cryptography that PGP originally was, and that a representation of a bitcoin key pair contains 512 bits of data, could it then be argued that bitcoin is nothing more than an exercise in the practice of mathematics, and if so, could it be reasonable to view bitcoin as free speech?

Read the full article here.

As an aside, I will also mention we are looking for writers who can dive into some of the more interesting/advanced topics of bitcoin. If this interests you, PM me or use the contact form on the Diginomics page.
219  Economy / Services / Re: Looking for a Bitcoin Writing Position on: November 26, 2014, 02:55:36 AM
Oh I miss read the thread, I thought you were looking to write haha

You read correctly. I am looking to freelance write on the topic of bitcoin.
220  Economy / Services / Looking for a Bitcoin Writing Position on: November 25, 2014, 07:05:05 PM
Hello Everyone,

I am looking for a online writing position in the bitcoin industry and thought to reach out to some of the members on the board here as they're plenty of knowledgeable people here that may be looking for a writer or know someone who is. So let me explain a little bit about who I am:

I've been in the bitcoin space since late 2012, most recently publishing a book on the topic of bitcoin entitled The Bitcoin Revolution: An Internet of Money. I've also been running a business dedicated to online publication and research into bitcoin technology called Diginomics.

With Diginomics I've led the development of a full-fledged website design and WordPress integration which includes a custom-made theme to attract inbound traffic through social media outlets but especially capitalizing on search engine optimization. With our execution of inbound marketing campaigns we've begun to build a solid pipeline of traffic to our site and continue to grow our email lists. Our site has seen a steady increase in visitors since we launched the news publication just over a month ago, and our LinkedIn community group has been growing quickly. I like to think our early SEO success is due in part from a solid technical understanding of search engines as well as an ability to develop link relationships in our industry.

I built the WordPress theme implementation from scratch as our publishing platform while growing social media communities around our brand. I also served as a lead coordinator for Canada’s first bitcoin expo which was held in Toronto in April 2014.

If you know of any leads for a writer/content producer in the bitcoin industry, I would be grateful for an introduction or referral. Also, if anyone is interested in Diginomics, feel free to post here or send me a PM.

TP

BTC
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