Bitcoin as a concept presents great potential, but will the ideals fail to be realised by an open source software team? Read more →
Tag: technology
Bitcoin’s Path To Ruin – Episode 185
The Story: Is Bitcoin destined for failure?
If you got into Bitcoin early, it was probably because you saw the long-term potential of a platform that could disrupt the banking and central banking industries, holding governments accountable and limiting their power. You were probably a starry-eyed idealist who believed that real change was possible, by changing the systems that we all use, and hopefully, those stars have not yet left your eyes. If you got in more recently, you might hold the somewhat less principled position of “We’re all getting rich off this Internet nerd money!”
If you’re the second kind of speculator, you might fold as soon as times get tough, your position torn out easily like the shallow roots of a clover. If you’re the first kind, you might persist even when things are looking bad, because you knew that you had very good reasons to enter the market in the beginning.
Conditions have changed for Bitcoin, with high transaction fees from $1-$3, which rule out the microtransactions, small transactions and use for developing nations which idealists once believed made it unique. According to Mike Hearn, the Bitcoin developer who quit in January 2016, there are people on the team who don’t believe in the fanciful visions of its creator, and never saw it as anything more than a potential platform for large settlements. Hearn declared the experiment over, a statement that was easy to overlook for many, considering how often Bitcoin has been pronounced lost.
The team remains prudent and risk-averse, which makes sense for a multi-billion dollar project, but it also means the programmers on the team who are excellent are not free to innovate, which makes Hearn’s departure seem much more sensible in retrospect. With transactions that can take hours and fees 100x its competitors, the project is already years behind. In today’s world where invention and innovation are common, playing it safe can be a death sentence.
In this episode, Kurt presents the case that the Bitcoin experiment is on the path to ruin, likely being sustained by all the points in its favour, such as brand recognition and network effect, but eventually falling further into inutility, and likely causing misery for many. Join me on this value-investing tail of hope, disillusionment and suspense in the next episode of … The Paradise Paradox!
The Eps:
Infiltrators: Bitcoin paranoid – Episode 162
The Links:
The resolution of the Bitcoin experiment – Mike Hearn
I looked into SegWit, and here’s what I saw – Nathan Hourt a.k.a. Modprobe
The Cash:
If you enjoy our posts, please become a patron on Patreon, or have a look at The Paradise Paradox’s page on Steemit where you can join, earn money, and upvote our posts to help support the show! You can also find a lot of additional content which is not posted on this site, with Kurt’s posts on Steemit.
We really appreciate all of your contributions! Every cent and satoshi we receive lets us know that we’re doing something worthwhile, that you are entertained by our program, and that you’re starting to question what you know more and more. Please be generous. Donate to The Paradise Paradox. Or buy some stuff on Amazon using this link. Or buy some of our great T-shirts here.
The Episode:
To download the audio, right click and press “save as”.
Remember to subscribe on iTunes or subscribe on Pocket Casts.
If you enjoyed the episode, don’t keep it a secret! Feel free to share it on Twitter, Tumblr, Facebook, Reddit, or your office bathroom wall.
Bitcoin, Dash and digital currency for beginners – Episode 181
The Story: The dream of cryptocurrency and what to do about it
Most people hear the word “Bitcoin”, they don’t think much of it, or they think only about drug markets on shady parts of the web. Bitcoin, Dash and digital currency in general are similar to the Internet itself in some ways. If you can think back to 1995, you might remember people saying how the Internet was full of paedophiles, pornography and other undesireable material – a place for nerd and perverts, but certainly not for regular people. Today, almost everyone who has the resources to access the Internet uses it on a regular basis, from shopkeepers in London to monks in rural Thailand. A technology which was once only for a few, quickly became a necessity for everyone.
Free digital currency – currency not controlled by any government – may be the greatest breakthrough in monetary technology since coins were first minted. However, just as with the Internet, the benefits are not obvious to most, unless they have a need to escape the restrictions of normal money. Farmers in Argentina use these currencies to escape the will of banks telling them how to grow and what to grow. Activist organisations such as Wikileaks use it to accept payments when governments try to block them. Impoverished Venezuelans use it to smuggle in food to feed their families, as the national currency collapses before their eyes. If you want to send money across the world cheaply, or to find a way to save money so it isn’t eroded by inflation, or you have a desire to see a better world where everyone has a chance to live comfortably, could a currency such as Dash or Bitcoin help you?
In this episode, Kurt discusses the dream, the highest ideals of digital currency – ending war and providing a means for the masses to escape poverty and reach prosperity, removing power from central banks and holding governments accountable to the public they are supposed to serve. He also gives an overview of how to acquire Dash or Bitcoin, some pitfalls to avoid losing your money, and some ways you can earn this currency.
Join us in an industry-disrupting episode of … The Paradise Paradox!
Disclaimer: Nothing in this video or podcast is to be construed as financial advice.
The Eps:
Dash vs Bitcoin – Which will reach mass adoption first?
Bitcoin vs Dash – Ridiculous comments about Dash
Why Amanda B. Johnson loves Dash
The Links:
Travelling using Dash by Joël Valenzuela
Dash Nation Slack or Dash Nation on Discord
Purse.io – buy Amazon gift cards
Bitcart – buy Amazon gift cards
The Cash:
If you enjoy our posts, please become a patron on Patreon, or have a look at The Paradise Paradox’s page on Steemit where you can join, earn money, and upvote our posts to help support the show! You can also find a lot of additional content which is not posted on this site, with Kurt’s posts on Steemit.
We really appreciate all of your contributions! Every cent and satoshi we receive lets us know that we’re doing something worthwhile, that you are entertained by our program, and that you’re starting to question what you know more and more. Please be generous. Donate to The Paradise Paradox. Or buy some stuff on Amazon using this link. Or buy some of our great T-shirts here.
The Episode:
To download the audio, right click and press “save as”.
Remember to subscribe on iTunes or subscribe on Pocket Casts.
If you enjoyed the episode, don’t keep it a secret! Feel free to share it on Twitter, Tumblr, Facebook, Reddit, or your office bathroom wall.
Bitcoin Price Explosion: Luis Fernando Mises – Episode 167
The Story: The prices of digital currencies are going crazy
In late 2013, the price of Bitcoin started exploding, going from around $120, to close to $1200, within 3 months. People in the digital currency realm were stunned and amazed, and many people (including myself) started buying up currencies, chasing the Bitcoin bullet train. “This time it’s different,” we thought. “Who knows if the price will ever come down?” we thought. A few months later, the price came rolling down, eventually settling around $450. A lot of people surely lost a lot of money in those months, buying high and selling low. That was when I learned a simple lesson: the best time to buy an asset is when nobody gives a shit about it.
Now it’s June 2017, and in the past three months we’ve seen Bitcoin shoot up from around $1000 to more than $2500 – even to $3000 in some markets. I see people on social media boasting about their winnings, parading the fact that they have assets worth hacking. I tell them to be careful, that trading at all time highs can be a recipe for disaster. They tell me “The dollar is crashing against crypto!” and “This time it’s different!” I know some will probably lose a lot when the bull market ends, still believing that they’re digital currency genii and know how to pick winners. Others will prudently and consistently take profits, and wait for another opportunity to buy big.
In this episode, I welcome back Luis Fernando Mises, business consultant, entrepreneur, spiritual healer and digital currency investor, to discuss the latest rise in Bitcoin and altcoins, and what pitfalls people should look out for. We talk about ease of use in virtual currency, potential problems with Bitcoin, and spiritual perspectives to be gained when you lose a lot of money. We also discuss the problems with gossip in the liberty movement, how many are focused on the “telenovela” of liberty, and how that energy can be directed into something more fulfilling.
Join us on another bank-breaking episode of … The Paradise Paradox!
The Eps:
Shamanic aliens – Luis Fernando Mises: Episode 146
Shamans with guns – Luis Fernando Mises: Episode 95
The Links:
The Cash:
If you enjoy our posts, please become a patron on Patreon, or have a look at The Paradise Paradox’s page on Steemit where you can join, earn money, and upvote our posts to help support the show! You can also find a lot of additional content which is not posted on this site, with Kurt’s posts on Steemit and Aaron’s posts on Steemit.
We really appreciate all of your contributions! Every cent and satoshi we receive lets us know that we’re doing something worthwhile, that you are entertained by our program, and that you’re starting to question what you know more and more. Please be generous. Donate to The Paradise Paradox. Or buy some stuff on Amazon using this link. Or buy some of our great T-shirts here.
The Episode:
To download the audio, right click and press “save as”.
Remember to subscribe on iTunes or subscribe on Pocket Casts.
If you enjoyed the episode, don’t keep it a secret! Feel free to share it on Twitter, Tumblr, Facebook, Reddit, or your office bathroom wall.
Infiltrators: Bitcoin Paranoid – Episode 162
The Story: Have government agents infiltrated Bitcoin?
If you created a system that could potentially displace a lot of existing organisations – large, powerful organisations – rendering them obsolete and removing their sources of funding, you could reasonably expect that some people from those groups wouldn’t be too happy about it. They will most likely decide to take action – perhaps even criminal action – in order to protect their interests. That’s why when Bitcoin was created, it made sense that its inventor (or inventors) decided to remain anonymous.
The identity of Satoshi Nakamoto remains unknown, and as far as we know, no longer has anything to do with the project. So they are most likely safe from reprisal. Yet, what about the people who are involved in the project today? If powerful people wanted to slow down or even destroy Bitcoin, how would they do it? The decentralised, anti-fragile nature of the system makes it too strong for an attack using software. But the developers’ identities are public, and the discussion boards are public. Anyone with sufficient resources could begin to corrupt these groups using money, violence, threats of violence, and sowing seeds of confusions in public forums – perhaps even creating entire companies to subtly undermine the integrity of the project.
In this episode, Kurt looks at a couple of historical examples of how “law enforcement” organisations are willing to get their hands dirty for questionable purposes, and speculates how similar strategies could be used to unhinge the Bitcoin community – or other digital currency communities. He discusses how Hoover used the FBI to act out his prejudices against black Americans, how London Metropolitan policemen were involved in sexual relationships as part of their undercover operations, and the types of unusual comments that float around among prominent Bitcoiners, that raise the question of whether Bitcoin has been compromised.
Join me on a journey of infiltration, deception and mystery in the next episode of … The Paradise Paradox!
The Eps:
Dash digital cash vs Bitcoin: Which will achieve mass adoption first? – Episode 154
Bitcoin vs Dash: Ridiculous comments about Dash – Episode 157
The Links:
Anarchast – Opening Yourself Up to The World, Living Freely and Enjoying the Ride with Kurt Robinson
Just being black was enough – The Nation
Tape shows Nixon feared Hoover – NY Times
Undercover agents fathered children – The Antimedia
Undercover police had children with activists – The Guardian
Luke JR’s $5 comment on Reddit
Lesser known reasons to keep blocks small in the words of Bitcoin Core developers
The Cash:
If you enjoy our posts, please become a patron on Patreon, or have a look at The Paradise Paradox’s page on Steemit where you can join, earn money, and upvote our posts to help support the show! You can also find a lot of additional content which is not posted on this site, with Kurt’s posts on Steemit and Aaron’s posts on Steemit.
We really appreciate all of your contributions! Every cent and satoshi we receive lets us know that we’re doing something worthwhile, that you are entertained by our program, and that you’re starting to question what you know more and more. Please be generous. Donate to The Paradise Paradox. Or buy some stuff on Amazon using this link. Or buy some of our great T-shirts here.
The Episode:
To download the audio, right click and press “save as”.
Remember to subscribe on iTunes or subscribe on Pocket Casts.
If you enjoyed the episode, don’t keep it a secret! Feel free to share it on Twitter, Tumblr, Facebook, Reddit, or your office bathroom wall.
Best bits – “Dash isn’t a cryptocurrency – it’s a business!”
People say “Dash isn’t cryptocurrency – it’s a business!” But what do they really mean? It’s true – Dash is a decentralised autonomous organisation. People make money from Dash. But people made money from Bitcoin too. So what is the problem?
Best Bits – “Dash is a Ponzi scheme, and a scam, and a fraud!”
Many people say that Dash is a Ponzi scheme and a scam. Are these accusations founded, or should people be more careful with the words they use?
Bitcoin vs Dash – Ridiculous comments on Dash
The Story: Fun, interesting and exciting comments about Dash
If you bring up the cryptocurrency Dash among people who know anything about it, you’ll probably get a diverse range of opinions. Some people hate it and believe it’s nothing but a fraud. Other people love it and believe it’s the currency of the future. And others still believe its rise has more to do with sex appeal than any usefulness.
In this episode, Kurt digs into the cesspool known as “the YouTube comment section” and responds to the most interesting and bizarre among them. He discusses SegWit and how it causes mental blocks among Bitcoiners, user experience, Bitcoin as a blue chip company or international clearing house, the security of Bitcoin compared to Dash, the sex appeal of Dash, the fantastic dream of cryptocurrency, what Dash’s marketing says about it, Dash as a business, centralisation, whether someone could control 50% of masternodes, the instamine or fast mine of Dash, what is a Ponzi scheme and whether Dash is one, and finally whether Dash is just a big scam in general.
Join us on a crypto adventure in the next exciting episode of … The Paradise Paradox!
The Eps:
Why Amanda B. Johnson loves Dash – Episode 155
Dash vs Bitcoin – which will reach mass adoption first? – Episode 154
The Links:
The Cash:
If you enjoy our posts, please have a look at The Paradise Paradox’s page on Steemit where you can join, earn money, and upvote our posts to help support the show! You can also find a lot of additional content which is not posted on this site, with Kurt’s posts on Steemit and Aaron’s posts on Steemit.
We really appreciate all of your contributions! Every cent and satoshi we receive lets us know that we’re doing something worthwhile, that you are entertained by our program, and that you’re starting to question what you know more and more. Please be generous. Donate to The Paradise Paradox. Or buy some stuff on Amazon using this link. Or buy some of our great T-shirts here.
The Episode:
To download the audio, right click and press “save as”.
Remember to subscribe on iTunes or subscribe on Pocket Casts.
If you enjoyed the episode, don’t keep it a secret! Feel free to share it on Twitter, Tumblr, Facebook, Reddit, or your office bathroom wall.
Bitcoin vs Dash – Bitcoin mental blocks: SegWit & UX
A lot of people left comments on my videos saying “If SegWit comes in…” “Just you wait and see if Segregated Witness comes in…” What they don’t get is, that’s a huge “if”. The problem isn’t just that there are unconfirmed transactions now… the problem is, we have no idea how or when the solutions will be implemented. That is the real problem, and Bitcoin maximalists have a huge blind spot for that. It seems to be because they’re only thinking about Bitcoin in terms of the technology, not in terms of the human factors – the governance, the politics. It’s as if they say “Well the technology exists so it’s all going to be fine.” And when you ask “How is that tech going to be implemented?” they say “the technology exists so it’s all going to be fine.”
You also see this flavour of thinking when it comes to user experience. They say “I don’t care about having to copy and paste a Bitcoin address” Or they bring up QR codes. It’s true, QR codes give an improved user experience compared to long confusing strings of characters that make up Bitcoin addresses. However, QR codes pose their own problems. I’ve often been on the web looking at a QR code thinking, what am I supposed to do – point my phone at my monitor? That just seems weird. If people had to scan a QR code to get to Google or Facebook, the web probably wouldn’t be as popular as it is today.
If you want a service to get popular, you have to extend your empathy, imagine yourself in the shoes of a complete noob and try to feel what they would in that situation. If you get caught up thinking “I’m comfortable with this (so I’m sure everyone else will be too),” you’re confining your tech to be used by an elite few.
Bitcoin vs Dash – Which is the currency of the future?
There are problems with Bitcoin scalability and governance – can Dash provide solutions? Read more →