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Author Topic: [eurobit] David Birch – Next Generation Money  (Read 1851 times)
genjix
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December 28, 2011, 04:40:24 AM
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http://bitcoinmedia.com/eurobit-david-birch-next-generation-money/

I personally liked David Birch's talk and feel it added a lot- if not for understanding what the conventional wisdom is. He made us challenge and confront our beliefs, and doing so can only make you more confident of success if you are right.

An interesting talk.
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sadpandatech
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December 28, 2011, 04:50:41 AM
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I will listen to the entire thing here eventually. Two minutes in though, there is a glaring difference between Mastercard, et al, creating an alternative system and Bitcoin. And that is that in the former the creating entity retains control over the money put into their system...... Yea, I bet Mastercard did spend 150mil just to find people were not interested. I know my first thought would be, "Why would I want Mastercard to control my money?'...

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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December 28, 2011, 05:35:27 AM
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Here's that "Square" thing David was talking about. It's pretty cool, I must say.

http://www.youtube.com/watch?v=L_ORpi4OOt0
https://squareup.com/

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December 28, 2011, 05:52:48 AM
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Really interesting. A must for all bitcoin developers.

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December 28, 2011, 05:56:42 AM
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I will listen to the entire thing here eventually. Two minutes in though, there is a glaring difference between Mastercard, et al, creating an alternative system and Bitcoin. And that is that in the former the creating entity retains control over the money put into their system...... Yea, I bet Mastercard did spend 150mil just to find people were not interested. I know my first thought would be, "Why would I want Mastercard to control my money?'...

Agreed.  He goes on to list a bunch of failed electronic currencies from the last 15-20 years.  Hopefully he'll realize the one critical factor that is different between all of them and bitcoin.  Watching it now to see how it goes.

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December 28, 2011, 08:42:31 AM
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I really liked Birchs talk. He offers some unique insights into a market most of us have no experience with, yet are trying to enter.

He's probably right in saying: if you want to be successfull, you have to be on the phone.

Back in Prague I couldn't help thinking: Damnit, this guy doesn't get it, he keeps talking about Bitcoin as if it was merely a transaction processing system, like visa or whatever. It is not, Bitcoin is a money. I can see the point of marketing Bitcoin as a payment processing system for now, but it really is more than that, clearly.

EDIT: let me quote him:

Quote from: david birch
You know, you're not the only people, that are looking to develop new payment systems and are trying to find a niche, so here we go: if you think you're going to sell bitcoin to the mass market because the general public wants an anonymous, irreversible, cryphtographically strong, pre-payed, electronic cash replacement system, I can proove to you, absolutely: they don't and you're completely wasting your time.

An electronic cash replacement system? What the heck is that? He's clearly putting bitcoin into some sort of pre-made category system for payment systems he has (I bet he had to add "cryptographically strong" for bitcoin), which bitcoin doesn't fit.

David Birch fails to see that bitcoin is money.

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December 28, 2011, 11:25:41 AM
 #7

He's probably right in saying: if you want to be successfull, you have to be on the phone.

I got the impression that he hadn't researched bitcoin enough, bitcoin is very well presented in the mobile phones. In fact, I think mobile clients are perhaps the most impressive thing about bitcoin.

For example, currently it is trivial to create a mobile website, where I sell digital content for bitcoins, and the payment can happen with Schildbach's Android bitcoin wallet within the phone. For example, it would be very easy to create my own bitcoin book/movie/app store.

Also with bitcoinspinner, I can download, install & receive my first bitcoins to the phone in 5 minutes. It is very impressive.

lonelyminer (Peter Šurda)
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December 28, 2011, 12:34:35 PM
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My impression is also that he does not get it. I'll give him a small credit though, he is correct in saying that in order to be successful, Bitcoin needs to cater to the needs of potential users, and he made some useful examples of how. But other than that, he missed it. Such as this one:

He's probably right in saying: if you want to be successfull, you have to be on the phone.

When I heard him say this, I was like duh? Plenty of people at the conference had Bitcoin on their phones. Poorly researched.

Bitcoin is open source and how it is developed does not mimick how centralised products are launched. Just like assorted pundits did not get linux 10 years ago, other pundits do not get Bitcoin now. Remember those articles and "research papers" about how linux has high TCO, is not user friendly and all that other made up stuff? They were wrong. Linux works. Bitcoin works. Obviously, it can work better in the future. And most likely it will. There is a steady demand for it, because the alternatives (Windows / fiat money) suck. They won't suck less merely because of what some pundit thinks.
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December 28, 2011, 01:32:12 PM
 #9

Here's that "Square" thing David was talking about. It's pretty cool, I must say.

http://www.youtube.com/watch?v=L_ORpi4OOt0
https://squareup.com/

See, people stop caring about their privacy, security and even sound money... as long as it's easy and they don't have to think about it for more then half a second.

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kangasbros
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December 28, 2011, 02:10:11 PM
 #10

See, people stop caring about their privacy, security and even sound money... as long as it's easy and they don't have to think about it for more then half a second.

That is a well known truth. To make things successful, you have to make them easy to use. There are many businesses which make money by making something easier for people to find/use/etc, and they have no other advantages.

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December 28, 2011, 02:55:43 PM
 #11

i like his 5 points and what he says is mostly true, but fall somewhat short for bitcoins inherit actual problems. e.g. facebook will lock out all others and second, there will always be the problem of converting bitcoin to fiat money and vice versa.
if google wallet will ever be "open" to other systems, it's for course a must for bitcoin apps to integrate there.
bitcoin is also not as anonymous as he thinks. it's easy for a reciever to create a new unique address and hence identify when the sender has actually sent the money. that's basically what he was talking about.
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December 28, 2011, 03:36:51 PM
 #12

"if you think you're going to sell teh interwebz to the mass market because the general public wants a pseudonymous, distributed, relatively failsafe data transfer and publication protocol, I can proove to you, absolutely: they don't and you're completely wasting your time."

 Kiss

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December 28, 2011, 03:42:21 PM
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An electronic cash replacement system? What the heck is that? He's clearly putting bitcoin into some sort of pre-made category system for payment systems he has (I bet he had to add "cryptographically strong" for bitcoin), which bitcoin doesn't fit.

David Birch fails to see that bitcoin is money.

Maybe he didn't do his homework but maybe he doesn't see it to be money because he thinks the majority
( besides those  freaks on Antique PC's....) won't see it as money.

In that case whats left for Bitcoin ( in his opinion) is possibly a payment system.....

and even then he  tries to prove that NOBODY ( the masses) cares about all the qualitys
that Bitcoin  users quote as the reasons for using it.




"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
genjix
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December 28, 2011, 03:44:52 PM
 #14

"if you think you're going to sell teh interwebz to the mass market because the general public wants a pseudonymous, distributed, relatively failsafe data transfer and publication protocol, I can proove to you, absolutely: they don't and you're completely wasting your time."

 Kiss

Is this a real quote? Who is this from?
herzmeister
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December 28, 2011, 03:49:48 PM
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no i was joking. i was taking the phrase and applying it to how internet technology might have been seen ~20 years ago. i mean to say that there can and will be applications built upon bitcoin as a money that will be easy enough for the general public to use, without them having to understand the exact nature of the technological foundation or leveraging every of its features.

https://localbitcoins.com/?ch=80k | BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
farfiman
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December 28, 2011, 04:12:48 PM
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no i was joking. i was taking the phrase and applying it to how internet technology might have been seen ~20 years ago. i mean to say that there can and will be applications built upon bitcoin as a money that will be easy enough for the general public to use, without them having to understand the exact nature of the technological foundation or leveraging every of its features.

Correct!  look at me sig...

"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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December 28, 2011, 05:29:17 PM
 #17

Quote from: david birch
if you think you're going to sell bitcoin to the mass market because the general public wants an anonymous, irreversible, cryphtographically strong, pre-payed, electronic cash replacement system, I can proove to you, absolutely: they don't and you're completely wasting your time.

I partially disagree with that. IMHO, the "general public" does want to avoid taxes. And the percentage of people willing to do so will probably only increase from now on, in most places. So, yeah, indirectly, people do want an anonymous payment system, since that's an imperative requirement if you want to safely avoid taxes.
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