Episode 122 – Interview from Ghana, No Rate Hike From the Fed

We interview the leaders behind BitUnit in Ghana, Africa and talk about their upcoming conference. The Federal Reserve decides not to raise interest rates this month – hype has already begun that they will do so next month. Debt ceiling woes are clamoring once again. 9 big banks look to the blockchain technology.

 

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Show Notes:

Traditional Markets
Gold up $1140
Silver up $15.18
Dow down to 16,384
Oil up $44.98
30 year US Treasury down slightly to 2.934%

Crypto Markets
BTC steady at $230
LTC $2.83
ETH $0.95

Schedule

Stay tuned for discussion about the FEDs recent decision and what it might mean for the markets. First up we have an interview from

http://www.bloomberg.com/news/articles/2015-09-17/bitcoin-is-officially-a-commodity-according-to-u-s-regulator

THE FED
http://www.econotimes.com/Bitcoin-price-vis-a-vis-US-Feds-interest-rate-decision-89767
Discussion about interest rate non-hike

Debt ceiling

http://www.huffingtonpost.com/entry/debt-ceiling-will-be-hit-by-end-of-october-obama-administration-warns-congress_55f1ec69e4b03784e27897f2

Nine of the World’s Biggest Banks Form Blockchain Partnership
http://recode.net/2015/09/15/nine-of-the-worlds-biggest-banks-form-blockchain-partnership/

Closing

https://www.indiegogo.com/projects/bitunit-2015-bitcoin-seminar
http://bitunit.cryptoavenue.com/

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Score One for Consensus, Maybe?

Today it was announced by eight major players in the bitcoin space that they would be running software that is comparable with BIP101 by December of this year. If BIP 101 is adopted, then the capacity of the bitcoin network would octuple, and be followed by scheduled capacity increases.

Of the five main developers, Pieter Wuille of Blockstream supports a modest network capacity increase in 2017 long after a transaction backlog is expected. Gregory Maxwell also of Blockstream also opposes BIP 101. Jeff Garzik promotes his BIP 100 but is concerned about inaction if BIP 100 isn’t accepted. Wladimir J. van der Laan also has a BIP proposal that is not numbered yet. While Gavin Andresen has helped release software called Bitcoin XT that will implement BIP 101 not before January 2016 only if the network supports the change.

There are other developers that have weighed in on this topic. There’s Mike Hearn who originally wrote Bitcoin XT. When Bitcoin XT was first written, it did not change the capacity of the bitcoin network. BitcoinXT was the first client that would support the lighthouse project which allows crowd funding campaigns with bitcoin. It was Mike Hearn who agreed to implement BIP101 in Bitcoin XT with the help of Gavin Andresen.

Other developers currently against BIP 101 include Peter Todd, and Luke-jr.  With so much division it has been impossible for Bitcoin Core to adapt to bitcoin’s expected growth. This fact is probably responsible for the hundreds of Installations of Bitcoin XT and  a few BIP101 blocks that were mined last week.  Some reaction to this divergence from Bitcoin Core spurred many comments about consensus.  There was a growing concern that this sequence of events would lead away from consensus.

Alas, these concerns may not be valid. As there is now a workable, and fairly convenient solution to allow for the growth of the network. This could serve as a rally point. People may now see a path to the next generation bitcoin network. There seems to be no indication the bitcoin core team will not break out of its division and inaction that has plagued that team for over two years. In fact Luke-jr has even suggested that he might change his mind. Could this be the very beginning of the building of a consensus that some people have been clamoring for? Time will tell, time will tell.

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Darren to Present at Porcfest

Student's work.

An example of a student’s work: Pascal’s triangle

Darren is officially on the schedule of porcfest. There he will present about ending government induced math anxiety.  He will discuss his Mathematical Playgrounds and  arithmetic promotion he has been doing this year. Darren will discuss how geometry is an appropriate subject for a young learner, as well as a tool that helps boost students engagement with the material. This is a great opportunity to meet Darren.

This year Darren has been teaching young people aged 6 to 11 basics of arithmetic and discussing mundane to advanced geometric concepts. Every Tuesday Darren has met parents and engaged students with planned activities, games, and lectures intended to encourage mathematical thinking and discovery. Students help direct the actives. Lately students have been very interested in the Mandelbrot set. These more exotic topics keep up student excitement level while learning more mundane addition, subtraction, and multiplication. Darren intends to produce children with minds that do not fear mathematical topics, but rather are comfortable with them. This should avoid mathematical anxiety that is such a common result of public education.

Mandelbrot Set

Mandelbrot Set

In addition to presenting, Darren will provide some hands on activities for young people at porcfest. Anyone is encouraged to observe these activities which are intended for all young people.

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Episode 99 – Government Censorship and Security

Australia says no to regulating bitcoin, Rand Paul is the first US Presidential Candidate to accept bitcoin for his campaign donations. Overstock is going big on the bitcoin train. PayPal merchants can now accept bitcoin. The Bitcoin Foundation is on the rocks. Police stations are having their files held for ransom. Turkey and Russia are censoring internet content.

putin-better

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National Debt Ceiling Reinstated This Week

new_ceilingMonday the national debt Ceiling is back in force.  In theory this should hold government borrowing down to a staggering $18 trillion dollars.  In practice though, it is likely that accounts have been shuffled around to keep the actual borrowing level officially below the ceiling.  If this understanding is correct look out for a large increase in the national debt the moment the ceiling is raised, or re-suspended.

 

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Episode 93 – Router Back Doors and Net Neutrality

Oil under $50.  BitGo secures quarter of a million bitcoin theft insurance.  Bitcoin foundation elects Olivier Janssens and Jim Harper after a misvote.  The Canadian Media Fund funds a crypto currency MMORPG. Ziftrcoin source code available, network is live.  FCC vote to implement Net Neutrality.  Mega denied service by PayPal, bitcoin may be an answer.  Bank of England compares bitcoin to internet.  Backdoor found in routers produced by ten different companies.  China to implement independent gold trading platform by end of year.

 


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Episode 92 – NSA Hard Drive Backdoor and Bitcoin Foundation Elections

Bitcoin involved muggings in New York.  Police sloppy with their computer security pay ransom.  Stripe now integrates bitcoin for merchants.  Robocoin allows conversion of regular ATMs to bitcoin ATMs.  Chicago taxi drivers strike because people prefer their competition.  NSA provides serious security flaw in most computer hard drives.  Bitcoin foundation elections.  Does bitcoin need faith?  Bitreserve adds Swiss Francs to their platform.  Greece gets a four month reprieve on their crippling debt.

 


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Are Altcoins Ponzi Schemes?

Darren and JJ discuss any similarities that altcoins may have in common with ponzi schemes.  The new technology of bitcoin has paved the way to the existence of thousands of altcoins.  Most altcoins don’t catch on.  Some are for fun.  But then some employ down right deceptive practices to pump them.

 


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WoW, so doge

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