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