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?
Amanda B. Johnson is a familiar face to many who are interested in financial technology, and particularly to those interested in cryptocurrency. For months she was the host of The Daily Decrypt, bringing news about new developments in the technology, informing us about the latest altcoins released and the progress of Bitcoin adoption. Eventually she got frustrated when she saw how tedious and stilted the movement was in Bitcoin, and about how awful most of the new coins were. She finished The Daily Decrypt and decided to start Dash Detailed, giving us a weekly report of the progress in Dash – the currency which she figures is the most likely to reach mainstream adoption.
In this episode, Amanda tell us why she’s so excited about Dash, explaining the concept of money as a service, the importance of user experience, how she might market Dash to people who know nothing about cryptocurrency in the future, and why it’s not easy to crack Dash’s privacy features – even when someone controls a masternode. We also talk about the incentives involved in Dash, and how its anonymity features compare to Monero’s.
Join us in the next blockchaining episode of … 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.
Argentina was once one of the richest countries in the Americas, and in the world. One hundred years ago in Paris, the phrase “rich as an Argentine” was a common phrase. Now, not so much.
Today, Argentina is a country plagued by the whims of corrupt bureaucrats and central bankers. Over the last 60 years, the Argentine peso has been devalued 4 times, now being worth approximately one ten trillionth of what it was worth. Because of this, when Argentinians such as Rodolfo Andragnes heard of Bitcoin, they were particularly receptive to the idea of sound money with no central point of failure – no corrupt bankers that could steal or print their wealth away. These ideas captured the imagination of Andragnes, and in 2013 he decided to start the first Latin American Bitcoin Conference, Labitconf.
Many Latin Americans are excited at the possibilities that it offers, perhaps giving Venezuelans a way to escape the hyper-inflation of the Bolívar, and giving favela-dwellers in the depths of urban sprawling Rio de Janiero an opportunity to build a reputation, trade outside of their direct communities, and grow real wealth.
In this episode, we describe our arrival in Mexico City to attend the third Latin American Bitcoin Conference, and talk about what we expect to happen at the event, and all the interesting speakers we hope to interview.