When a digital currency is mined before it’s released to the public, that may be a symptom of a scam – but it doesn’t prove without a doubt that it’s a scam. It may be an indicator that the creators just intend to boost up the value of the currency a little, sell their holdings, and leave. However, if we find that the creators continue to work on the coin long after any get-rich-quick scheme should have expired, is it still reasonable to say that the coin is a scam?
Aaron had the chance to jump on The Infinite Expansion podcast with fellow Anarchapulco attendee, Tim Bryant, of The Last American Vagabond, to have a discussion about the benefits of Ethereum and how it is ushering in a new era of financial technology – even while many banks are still just getting involved with blockchain technology, and many regular people still don’t know what Bitcoin is.
Ethereum is billed as an “international computer”, a way to execute computer code using a widely distributed network all over the world, a development which not even its users and developers yet understand its full implications or possible implementations.
Aaron and Tim talk about the benefits of Ethereum to be used in smart contracts, how it might work in conjunction with other cryptocurrencies, and how cryptocurrency is sometimes rejected in the truth movement, even though it might well be perfectly aligned with their goals.
Join us as we propel ourselves into the future on this next episode of The Infinite Expansion podcast and The Paradise Paradox!
Many people are just starting to hear about Bitcoin for the first time, and grappling with all their brain cells to understand the basics of how it might function, let alone its implications. Meanwhile, those who have been interested in cryptocurrency for years are continually looking forward to try to imagine or develop the next big thing, building on top of the base which Bitcoin has laid, and pushing into ever-more disruptive territories. The DAO, or decentralised autonomous organisation, is one project which has many people’s eyes fixated on it.
The DAO is a platform on which decentralised applications might run, allowing for decentralised arbitration services which move further towards making government courts of law redundant. Within a few short weeks, the DAO raised about $130 million through crowdfunding – the largest crowdfund in history to date. Of course, this is no guarantee of its success, but it does indicate the level of public support and faith that this project has behind it.
Will the DAO go on to transform the world? Or is it merely a stepping stone to building something even more ambitious, transformative, and disruptive? We discuss its potential in this episode of the Paradise Paradox.
Disclaimer: We are not financial advisors, we have no idea what you should do with your money, and we don’t claim that we do. Do your own research before making any financial decision, and be careful.
In the interests of disclosure, note that we do own Bitcoin, Ether and DAO.
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In 2008, an unknown, man, women or team going by the pseudonym “Satoshi Nakamoto” released some code to a cryptography mailing list, informing the small group of nerds that he had created something interesting, and say they should use it if they liked it, giving birth to the world of “cryptocurrency”. What has happened since has created a strange kind of chaos and order, and formed a foundation for a new world. People have used Bitcoin for charity, such as the organisation Bitcoin Not Bombs and Sean’s Outpost. Others have used it for profit or (what some might consider) more questionable means, such as gambling, selling drugs, firearms. Other, more nefarious agents have used it as an excuse to prosecute, destroying the lives of people such as Charlie Shrem and Ross Ulbricht.
Yet the march of progress continues. The pace of technological development is increasing so rapidly, we don’t necessarily even know how the technology is going to be used when it arrives. Bitcoin has been compared by some to the combustion engine, in terms of how it will change the way it will permeate our lives, changing the nature of every transaction it touches. And yet, thousands of clever people are scrambling to devise the next iteration, the next generation of blockchain technology that fully exploits the potential of Satoshi Nakamoto’s gift. One of those new iterations is Ethereum.
The other day The Paradise Paradox had a chance to interview Juan Galt, journalist for Cointelegraph, traveller, and all-round cool guy. What kind of developments will Ethereum allow? Can we make lawyers and escrows obsolete using smart contracts? What threats and benefits do autonomous Internet economic actors present to us?
We ask all these questions and more in this exciting development of … The Paradise Paradox!