The Most Interesting Thing You've Ever Heard About BTC?

[GoldSilverBitcoin]

Personally, my favorite thing has been hearing what Hearn thinks the future might be like...

Many intelligent people in the Bitcoin realm believe that the future of Bitcoin will be new protocol layers built upon Bitcoin.  If you are familiar with development or the web infrastructure, then you are likely familiar with TCP/IP, and you can imagine how http, the language of the web, is built upon TCP/IP.

You do not have to alter TCP/IP to use http. As can be done with internet protocol, the same can be done with Bitcoin protocol. Why would layers be built upon Bitcoin, though?

First of all, let’s say an old man wishes to give his grandson an inheritance on the grandson’s 18th birthday or day of death. Through Bitcoin you can actually develop code to create a transaction that goes uninitiated until a certain time or event. The condition if he gets the money when the grandson turns 18 is easy. You merely program a date on which to initiate the transaction. The condition based upon the old man’s death is more difficult, but can nonetheless be achieved.

A program can be written that scans the online death registry database to certify that the man has really died. Once the program reads of the death, it can automatically send the money.

Auto-payments can also be done for betting. A program can be written that says release a payment when a certain value of a certain exchange good is triggered or when something transpires in the real world, a news event of some sort.

A sports event can be expressed as a search with certain combinations of phrases in Google News. When this particular outcome to the game hits the headlines, the funds are released. Further, Kickstarter basically makes insurance contracts. An entrepreneur says that they will do this if they get a certain amount of funds.

A system similar to Kickstarter can be setup where numerous people pledge to an entrepreneur, and if the entrepreneur raises his or her goal, only then will the Bitcoin funds be released from the investor wallets. No transaction is released until all funds are received.

The presently unused feature needed to make this possible enables the creation of an impossible transaction – that is, a transaction in which the investor sends fewer bitcoins than the entrepreneur is to receive.

- See more at: https://www.goldsilverbitcoin.com/future-of-money-bitcoinomic/#sthash.JB81ZEJQ.dpuf

Your turn!

[davidgdg]

Personally, my favorite thing has been hearing what Hearn thinks the future might be like...

Many intelligent people in the Bitcoin realm believe that the future of Bitcoin will be new protocol layers built upon Bitcoin.  If you are familiar with development or the web infrastructure, then you are likely familiar with TCP/IP, and you can imagine how http, the language of the web, is built upon TCP/IP.

You do not have to alter TCP/IP to use http. As can be done with internet protocol, the same can be done with Bitcoin protocol. Why would layers be built upon Bitcoin, though?

First of all, let’s say an old man wishes to give his grandson an inheritance on the grandson’s 18th birthday or day of death. Through Bitcoin you can actually develop code to create a transaction that goes uninitiated until a certain time or event. The condition if he gets the money when the grandson turns 18 is easy. You merely program a date on which to initiate the transaction. The condition based upon the old man’s death is more difficult, but can nonetheless be achieved.

A program can be written that scans the online death registry database to certify that the man has really died. Once the program reads of the death, it can automatically send the money.

Auto-payments can also be done for betting. A program can be written that says release a payment when a certain value of a certain exchange good is triggered or when something transpires in the real world, a news event of some sort.

A sports event can be expressed as a search with certain combinations of phrases in Google News. When this particular outcome to the game hits the headlines, the funds are released. Further, Kickstarter basically makes insurance contracts. An entrepreneur says that they will do this if they get a certain amount of funds.

A system similar to Kickstarter can be setup where numerous people pledge to an entrepreneur, and if the entrepreneur raises his or her goal, only then will the Bitcoin funds be released from the investor wallets. No transaction is released until all funds are received.

The presently unused feature needed to make this possible enables the creation of an impossible transaction – that is, a transaction in which the investor sends fewer bitcoins than the entrepreneur is to receive.

- See more at: https://www.goldsilverbitcoin.com/future-of-money-bitcoinomic/#sthash.JB81ZEJQ.dpuf

Your turn!

Superb. I had some inkling of this but wasn't sure how far these ideas could be taken.  The "bitcoin as programmable money" concept is very deep; far more so than even most bitcoin enthusiasts appreciate.

[davidgdg]

Actually there is a case for saying that in the long run it is the programmable aspect of bitcoin that is its most amazing feature and the one which is most likely to result in it taking over the world 

[faiza1990]

but I heard most amazing is if you lost password of blockchain password then you never recovered your money and I lost this and lost all money 

[marcotheminer]

Ive heard that most bitcoins are used in gambling websites!
Apperently they make up some of the most popular sites

[jeffhuys]

What's cool in my eyes, is that in a lot of scifi books dollars, euros and pounds are all replaced by credits. Bitcoin are these credits.

[wopwop]

Is that 90% of trades are for harddrugs or gambling.

And the funny thing is that miners, exchanges and bitpay are supporting that just to make money. They're as lowlife as any drugsdealer who is trying to flip a coin over the misery of others. There are no good people here, just greedy people. Some are blinded by greed to see it, some are just plain evil. The naivety of some people here is disturbing.

Let's see if US Gov supports this.

[hashman]

A program can be written that scans the online death registry database to certify that the man has really died. Once the program reads of the death, it can automatically send the money.

Bad idea.  Who controls this "online death registry"? 

A sports event can be expressed as a search with certain combinations of phrases in Google News. When this particular outcome to the game hits the headlines, the funds are released.

Bad idea.  Who controls the news feed you of which you are putting your funds on the line?  There are better ways to do this.

The presently unused feature needed to make this possible enables the creation of an impossible transaction – that is, a transaction in which the investor sends fewer bitcoins than the entrepreneur is to receive.

You're joking right?  One interesting thing to me about bitcoin is that we have proof nobody is doing that. 

[RoadToHell]

This thread was pretty interesting:
   Bitcoin the enabler - Truly Autonomous Software Agents roaming the net

In a nutshell an autonomous agent, whose purpose in the world could be just about anything, uses various methods to raise bitcoin funds and then uses those funds to spread itself among hosting services.  Some of the possibilities that were posted include:
 - performing useful pay-for services to raise money for itself
 - having the agent hire programmers to improve its code.