Abstract

10 years after BitCoins “whitepaper”, the BlockChain and crypto currencies are a big hype. Time to look at the results of the experiment, see what failed and what works, check the consequences for society, and propose improvements.

BitCoin's technology has three problems which need to be fixed:

• The unfair distribution of coins
• The energy consumption of proof of work
• The non-scaleable replicated, but not partitioned ledger

The lightning network tries to address the last point, by doing transactions off-chain.

Subtopic List

• Bullshit Bingo Sheet
• Purpose & History of Currencies
• Proof of What?
• Speculation Objects?
• SwapDragonChain
• Ethical Mining
• The Decentral Bank

Share and enjoy!

Note: I want to point out that a service-oriented business model for free software works, but inevitably pushes the companies into a business model, where only the complaint department makes money. If you don't want to stick your head into a pig due to the depressive AI of the useless Sirius Cypernetics Corporation products you got, make sure that there is a business model for creating good, easy to use, and cheap to maintain software.

Incentives matter. Economy is all about game theory.

Literature

1. Stages in a bubble
2. Historic Stock Market Crashes, Bubbles & Financial Crises
3. Extraordinary Popular Delusions and the Madness of Crowds (1841)
4. Online resource for double entry bookkeeping
5. Distributed atomic transactions
6. Adam Ludwin explains crypto currencies
7. Bangladesh Bank Robbery
8. Flying Money
9. Is a git repository a BlockChain
10. Is my blockchain a blockchain
11. Der „Wolf of Wall Street“ warnt vor ICOs
12. „Warum BitCoin (jetzt aber wirklich!) TOT ist“-Kwizz
13. Bitcoin Mining Electricy Consumption
14. BitCoin Stromverbrauch Energie
15. BitCoin Energy Consumption Index
16. BitCoin is reactionary
17. Skinner box
18. BitCoin bubble from 2013
19. 760,000 transactions per second
20. Math proof of why lightning network won't work
21. A short summary of Chinese money history
22. I am a time-traveler from the future, here to beg you to stop what you are doing.