Why Bitcoin is Better Than Gold, with Wences Casares




Xapo CEO and founder Wences Casares explains why, after a 5,000 year reign, gold has been surpassed by bitcoin as the ideal ledger.

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Transcript: Bitcoin is a new digital currency that is perhaps the best form of money that we have ever seen. It’s important because most of us don’t understand money very well and perhaps the concept that is hardest for us to understand about money is that money is and has always been a ledger. And people often ask: “What is money backed with?” And the truth is money’s not backed with anything. It has never been backed with anything. The euro is not backed with anything in particular and neither is any other currency in the world. And gold, for example for that matter is not backed with anything either.

Some people think that gold has value because we use it for jewelry but it’s actually the other way around. Gold is valuable because it’s very scarce and because it’s very scarce it has been the best ledger we’ve found in 5,000 years. In bitcoin we have something that is as good a ledger as gold, meaning it’s incredibly scarce. There will never be more than 21 million bitcoin. It’s even more scarce than gold.But in history we have had this tradeoff between things that have been very, very good store of value like gold for example and things that have been good for payment like the Portuguese escudo, the U.S. dollar, American Airline miles, or Facebook credits. Those things are better for payment but they’re not so good as a store of value historically. And the things that are good for a store of value like gold are not good for payments.

In bitcoin we have something for the first time that is incredibly superior than anything we have seen before as a store value and also as a form of payment.It’s hard to have a rigorous discussion about bitcoin without understanding money. And the best way to understand money is to understand the history of money. Anthropologists agree that there’s no tribe, much less a civilization, that ever based its commerce on barter. There’s no evidence. Barter never happened. And that’s counterintuitive to most of us because we are taught in school that we first barter and then we made money because barter was too complicated.

Well, barter never happened and that’s one of the key myths about money. So then you would ask the anthropologists, “So how did we do commerce before money if there was no barter? There was no commerce.” No, there was plenty of commerce and the way that commerce would happen is that let’s say that someone in our tribe killed a big buffalo and I would go up to a person and say hey, “Can I have a little bit of meat?” And that person would say “No” or “Yes, Wences, here’s your meat.” And then you would go up to a person and say “Hey, can I have a little bit of meat?” and that person said “Yes, here’s your meat.”And basically we all have to keep track in our heads of what we owed other people or what our people owed us. And then someone would come to me and say “Hey Wences, can I have a little bit of firewood?” and I would say “Sure, here’s your firewood.” And I have to remember that I owe that person a little bit, that this person owes me a little.

And we all went about our business with these ledgers in our minds of who owes us what and what do we owe to whom. Very subjective system often these debts didn’t clear or clear in ways that were not satisfactory to both parties. Until about 25,000 years ago someone very, very intelligent came up with a new technology that really took off. So a person came to me and said “Hey, can I have a little bit of firewood?” and I said “Sure, here’s your firewood.” And this person said “This time we’re going to try something different. Here are some beads for you.” And I said “I don’t want beads. I don’t care for beads. I don’t need beads.” He said “It’s not about that. We are going to use beads as the objective ledger of our tribe. Instead of each of us having to remember what we are owed the beads are going to keep track for us. An objective ledger to keep track of debt.” [TRANSCRIPT TRUNCATED]

Directed/Produced by Jonathan Fowler, Elizabeth Rodd, and Dillon Fitton
Why Bitcoin is Better Than Gold, with Wences Casares

What Is Namecoin?




Namecoin is a cryptocurrency based off Bitcoin. The key difference being that it also has another function, which is to make a new decentralized domain name system that is not controlled by governments, corporations or organizations. On the Namecoin domain system you can register .bit domains for a small fee.

namecoin wallet

http://namecoin.info

namecoin+bitcoin merged mining

https://en.bitcoin.it/wiki/Comparison_of_mining_pools

dot.bit project

http://dot-bit.org

__________________

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Amazon US: http://amazon.cryptoeconomy.org
Amazon UK: http://amazonuk.cryptoeconomy.org
Amazon DE: http://amazonde.cryptoeconomy.org

Dogecoin: DCocxvGXYetNMgVo9VyFaErCC5b9huNNNJ
Bitcoin: 1CzE2WW5Fj4paC57T8qwNnpH13Fqu2VuTn
Primecoin: AWRhdD6JpXwnAFF6gMTkRUkERLuTNUWHMD
What Is Namecoin?

Tech Visionary George Gilder: “Bitcoin is the Libertarian Solution to the Money Enigma.”




“Bitcoin is a breakthrough in information theory that allows [users] to conduct provable transactions that can’t be changed…without reference to trusted third parties,” says tech visionary and investor George Gilder. “[Bitcoin] is the perfect libertarian solution to the money enigma.”

When Gilder makes tech predictions, it’s worth paying attention. In Microcosm: The Quantum Revolution in Economics and Technology (1989) he described how the silicon chip would usher in a new information age. In TELECOSM: How Infinite Bandwidth will Revolutionize Our World (2000), he predicted the rise of hand-held computers and fiber optics. In Life After Television: The Coming Transformation of Media and American Life (1990), Gilder predicted that “telecomputers” would one day provide a limitless alternative to broadcast television. That was 15 years before the launch of YouTube.

Reason TV’s Nick Gillespie sat down with Gilder to talk about why he thinks Bitcoin is a revolutionary technology. The interview took place at FreedomFest 2014, an annual convention for libertarians held each year in Las Vegas.

Shot and edited by Jim Epstein; additional camera Zach Weissmueller.

About 19:30.

Go to http://Reason.com/reasontv for downloadable versions and subscribe to Reason TV’s YouTube Channel to receive automatic notifications when new material goes live.
Tech Visionary George Gilder: “Bitcoin is the Libertarian Solution to the Money Enigma.”

Namecoin: A Coin with a Twist




In this video I talk about namecoin and rather I believe it has future potential. I also discuss how the DNS part woks.

Twitter: https://twitter.com/JPSchaumleffel
Reddit: http://www.reddit.com/r/GamersGoneTech
E-Mail: GamersGoneTech@Gmail.com
Donate BitCoins? My address is: 1AWSU3BoKzWoGxeydNsEPLoupC4vdfg7wC
Namecoin: A Coin with a Twist

Dark News #010: Darkcoin’s Cinderella Moment | Live Q&A




Topics:

03:55 Dark Market Prices
09:03 Darkcoin Updates
09:36 DarkSend and Ring Signatures
19:51 NSA Backdoors Routers
22:02 Fed Launders Billions
27:55 Mobile Device Theft and Botnets
30:41 WTF is a Sidechain? 4 Core Concepts
43:49 Will Dark Wallet Inspire Other Wallets?


Links

Kristov Atlas, Jeffrey Tucker, and Elizabeth Ploshay talk Bitcoin with Glenn Beck:

http://www.reddit.com/r/Bitcoin/comments/25hwb5/glenn_beck_gets_schooled_in_bitcoin_by_elizabeth/

Darkcoin Updates:

http://www.reddit.com/r/DRKCoin/comments/25dvux/please_update_wallets_asap_masternode_payments/

DarkSend v2 Ring Signatures:

Ring Signatures by CryptoNote:

https://cryptonote.org/inside.php

Federal Reserve Launders Billions Through Foreign Banks:

http://www.paulcraigroberts.org/2014/05/12/fed-great-deceiver-paul-craig-roberts/

NSA Backdoors US Routers

http://www.darkreading.com/government/nsa-reportedly-adds-backdoors-to-us-made-routers/d/d-id/1252686?

Minimize Crypto-currencies on Phones and Computers:

http://www.darkreading.com/mobile/1-in-10-us-smartphone-users-victims-of-theft/d/d-id/1251143?

http://www.darkreading.com/endpoint/bot-born-every-24-hours/d/d-id/1251132?

Sidechains Explained:

http://cryptobizmagazine.com/sidechains-explained/

Follow Dark News on Twitter:

https://twitter.com/darknewsshow

Follow Kristov Atlas on Twitter:

https://twitter.com/anonymouscoin

Read Kristov’s book, Anonymous Bitcoin:

http://anonymousbitcoinbook.com

Bitcoin Donations for Dark News #010:
1F3mmAYzVWyMBGGGTcm8iUVQKDG8D9BFVz

Dogecoin Donations:
DDcSUgbkRp5bs7bVz6QdTfmngmvHTzUkmd

Darkcoin Donations:
Xw1GxUDKLYAjJV3kys3u5LrjdzPehpPSQm

Support the show with a paid subscription:

http://www.patreon.com/user?u=136686


Intro Audio:
Nathan T. Freeman

Outro Music (“Title Screen”):

http://freemusicarchive.org/music/BoxCat_Games/Nameless_the_Hackers_RPG_Soundtrack/

Dark News #010: Darkcoin’s Cinderella Moment | Live Q&A

Litecoin creator, Charlie Lee, Talks About Litecoin, Bitcoin, And Coinbase




Open your first bitcoin wallet on Coinbase here: https://coinbase.com/?r=51df6c7b796f735bdc000007

In this interview Charlie was kind enough to talk about his background, vision for Coinbase, and digital currencies in general. I asked him about these things:

1) His background: from MIT to Google.
2) Why did he create it and what is Litecoin? What is the difference with Bitcoin?
3) Why Coinbase and what will he work on? Will Coinbase be multi-currency?
4) Will other services like Wealthfront, Motif Investing, Mint.com, Check, Google Wallet, etc. adopt digital currencies at some point?
5) Will traditional banks and brokers adopt digital currencies?
6) Will digital currencies occupy a primary or secondary roll in the future of money?
Litecoin creator, Charlie Lee, Talks About Litecoin, Bitcoin, And Coinbase