Future Use Cases for Blockchain Technology: Proper Decentralized Crowdfunding

Crowdfunding is a way of decentralizing project funding by people who have creative ideas or have come up with a new product. Developing a prototype of this idea is time-consuming and usually paid out of the creator’s own pocket. Taking the idea or product mainstream requires additional funding, and rather than sticking to one or a handful of investors, crowdfunding is a preferred option. At the same time, the current model of crowdfunding is centralized, and blockchain technology can help decentralize the decentralization of funding.

The Centralized Way of Crowdfunding Today

Over the past few years, crowdfunding has become more and more popular for the everyday consumer. Even though there are still a lot of people who view backing a crowdfunding campaign as a cheap way to get a hot new item, the genuine interest in the projects is there. Every day, more and more crowdfunding campaigns go live, but not all of them reach their intended goal.

It should come as no surprise then that various crowdfunding platforms have come into life, so that project creators can be connected to potential investors. The beautiful thing about crowdfunding campaigns is that every individual can become an investor in the project, without having to spend thousands of dollars. Even the smallest contributions matter, and help the creator(s)r each their goal.

In return for pledging their funds to a crowdfunding campaign, individual investors will be eligible for rewards, either in digital or physical form. Backing a movie project, for example, will most likely include backer rewards such as a digital download of the movie, a DVD, posters, or even a mention in the credits at the end.

But there is a downside to the way crowdfunding campaigns are being conducted right now. There are only a handful of websites to host projects, which is leading to centralization of the entire crowdfunding idea. In fact, this is in stark contrast to the idea of creating a project backed by many individuals, rather than a handful of investors.

Platforms such as Kickstarter, IndieGogo and GofundMe are making all the headlines when it comes to decentralized project funding, yet in their own way, all of these platforms are centralizing the ideology of crowdfunding. Unlike most Bitcoin exchanges, or centralized traditional financial institutions, none of these platforms holds funds in advance. Money will only change hands if and when the campaign reaches its intended goal, after which card payments will be processed by third-party companies.

There are several issues with crowdfunding campaigns as well though. Nearly half of the funded projects never completes their goal of developing a physical project for the masses, yet collects all of the pledges regardless. For the investor, there is no way to charge back the money, as the chargeback grace period expired.

If there is one thing that is abundantly clear, it is that crowdfunding campaigns are a positive trend, yet they lack the transparency required towards their investors. This is where blockchain technology, with its transparent nature, could play a pivotal role in the evolution of crowdfunding.

Blockchain Technology Provides More Transparency

Platforms where creators can post their idea and raise money through crowdfunding can greatly benefit from implementing blockchain technology into their ecosystem. Not only will all investors be able to see when and where the raised money went to, but the blockchain can also be used as a bookkeeping tool.

Doing so would instill confidence in the creators of projects,a s they have nothing to hide and are willing to be open regarding how funds is being allocated. Additionally, it could use serve as a way to share project progression with the people who pledged money to the campaign, by using blockchain technology as a way to send and transfer data.

Last but not last, the blockchain can also be used for direct communication between project developers and individual investors. Rather than relying on centralized crowdfunding platforms to post campaign updates, blockchain technology allows for transparent and real-time communication between all parties.

What are your thoughts on using blockchain technology for crowdfunding campaigns? Do you see additional benefits to doing so? Let us know in the comments below!

Images courtesy of Chicago Tribune, Rude Bagette and Alphr

Cryptocurrency Constitutes Money, Regardless of Belief

“Bitcoin is not money.”

This phrase represents a common bromide marshaled against digital currencies. People see Bitcoins as worthless wisps of air, which are only good for buying items in online games, or drugs from digital markets. “They are not real,” say skeptics—but the people who make these arguments have not studied digital currencies closely, so they commit an error in reasoning.

People use cryptocurrencies to buy all manner of items. Major retailers accept them, including Overstock, Tiger Direct, Memory Dealers, and Expedia. If Bitcoins are valueless and not real, why do retailers’ take them? The evidence suggests that these monies have value, which exposes problems with the belief that they are pseudo-currencies.

In a 2013 article called Bitcoin is not Real, Jeffrey Tucker cites the growing use of Bitcoin in Argentina as evidence.

“Consider the case of Argentina, which right now has extreme capital controls, price controls, and serious inflation. It also happens to be the country with the highest rate of Bitcoin adoption of any country on the planet. Everything including rents and land prices is being quoted in Bitcoin. It is being bought in order to be held, and only later used for more purchases. In other words, it is being used as money.”

The Stockholm Syndrome Acceptance of Fiat

Just because Bitcoins are digital does not imply they are fake or useless, as some would have people believe. Most fiat currency units are stored digitally in computer systems, and the majority of transactions occur across a network. Bitcoin is just the next logical step in digital payment and storage. People that desire only tangible currency do not understand the benefits of cryptography and distributed networks. The power of these tools has brought digital money, and other applications to the forefront of civilization and they are now some of the most powerful technologies existing in terms of utility and disruption.

Furthermore, the claim that objects cannot be money unless a government authorizes them is bogus. If a ruling authority does not give people permission to use an item as money, then it is not money, contend government apologists. 

Besides the fact that this argument panders to interests of the ruling elite, there is nothing writ large that says people must have permission use a medium of exchange. This non-argument is a psychological problem. It has its roots in Stockholm syndrome, which means people are merely apologizing for the evils of their masters. In truth, people can use whatever they want for money, regardless if someone says no and scribbles it on a piece of parchment. People do not have to suffocate under the myth that money must materialize from within the halls of power. Bitcoin is proof to this. 

The Five Properties of Money  

People tend to make all these complaints about digital currencies not being money, but they also do not know how to define or accurately describe money. So what exactly is it?

Money is a medium of exchange. It is a unit of value that acts as a signature of wealth. Money can operate in this capacity regardless if it is digital or physical, as long as it possesses key characteristics. That is: it is divisible, transferable, scarce, valuable, and fungible.

If money is divisible, it can easily be broken down into smaller denominations to facilitate trade and payment of a debt. When people used to barter, it wasn’t exactly easy or clean to break their slain wild boar down into divisible parts for exchange.

Transferable means the money can easily change hands without being cumbersome. Trying to transfer chunks of wild boar would not be ideal for various reasons, including its capacity to rot and smell awful.

Scarce means money is not abundant. It is difficult to obtain, and thus it retains its value. If money were not scarce, it would lose its perceived worth. For instance, if pebbles were considered money, they would not be worth much because of their excess, which hinges on the perception of value.

Value denotes that people ascribe worth to money. Value is difficult to discuss because it is abstract. Things have value because people believe they are worth something, which is also called the subjective theory of value in economics. Perception of value appears to change based on all the properties of money.

Fungible refers to monies ability to substitute units for the same unit without hassle. If the object didn't meet this criterion, it would not be able considered good money. No one can substitute smaller units of wild boar for the same one because organic matter alters in appearance and turns bad after a period. 

A Desire to Possess Cryptocurrency

These are the root characteristics of money, and Bitcoin meets every qualification. It is highly divisible, probably the most divisible currency to ever exist. It is easily transferable via wallets and public-key cryptography. It is the apotheosis of scarce because there will only be 21 million units ever produced. And finally, it is valuable. It is valuable because people are ascribing that property to it; they believe it has worth. They are trading it, even if people deny that it is money.   

If people chose not to ascribe them value and did not transfer them with the intent of receiving something in exchange, Bitcoins would not pass the test of sound money. But money need not constrict itself to some specific form either. It does not have to be tangible. It just has to adhere to the aforesaid properties and be trustworthy, and people all across the globe have already proven this with their desire to possess and trade it. Cryptocurrency, therefore, constitutes money, regardless of the way people feel and believe. 

Is there a reason to believe bitcoin isn't money? 

Image Sources:

Geek.com

Pinterest.com

Reviewbelief.com

Uber May be Losing Millions of Dollars – Could Bitcoin be a Game Changer for the Company?

A recent leak comes to confirm that these two last years, Uber is having losses at a bigger rate than revenues. According to documents obtained by Gawker, despite its rapid growth and international notoriety, the Company has been sustaining heavy losses throughout the year.

Uber gave some statements to several media organizations about these rumors last Wednesday. the company raised the finger on to much larger public companies still operating under a dubious model where they always report annual losses and rarely declare big profits. Take it as an example Amazon; the online market has a market cap of $250bn; however, it regularly reports annual losses, and hardly reports enormous profits.

The Company's financial "Dark Ages"

Lately, Uber seems to have plunged into what might be considered its “financial dark ages”. The company has been haunted by a series of negative events and has been under intensive persecution by regulatory agencies in several countries. This along with other issues has been having a negative impact on the Company’s overall finances.

Even though reports from the beginning of 2012 to the second half of 2014 show the company’s revenue has risen from just $1.4m to almost $57m, if we take into account all the fixed expenses in the same period, the company’s overall profits immediately fall from a small loss of $3.5m to a loss of $108.8m in the second quarter of 2014.

On the other hand, Gawker’s Report also mentions that the company’s gross margin, which is the profit it makes after paying for drivers, began negative in 2012, but quickly became steadily positive. According to the report Uber now has a gross margin of over $20m a year. However, to be precise, all the operation must be accounted for. Gross margin expenses only include the cost of paying drivers as a cost of revenue, everything else, is classified as operations, R&D, and sales and marketing, as “operating expenses”. And when we put all the numbers together it becomes obvious that the Taxi app firm has been having some rough times.

Uber accepting bitcoin?

Last month, rumors fled across the web saying the Company was working on Bitcoin integration. Uber promptly denied these rumors putting behind its back what could have been a possible solution to their current problem. Even though Uber doesn’t deal with bitcoin, reports have been made stating that this will soon be possible simply by using Braintree, a PayPal subsidiary, as a workaround to pay for the company services with bitcoin.

Uber is having some hard times in several countries as well; many of which already ordered the app to be blocked and prohibited the company’s operations. Countries like Brazil and Portugal blocked the site and the app. This happened because the unhappy Taxi driver organizations followed with a legal suit on the Company.
In fact, these new applications have come to disrupt and they will have to face a lot of resistance.

Uber can be seen as a perfect example on how future applications, as bitcoin itself, are bound to face enormous resistance. It also shows what can be the social pressure and regulatory implications similar apps will have to face.

One question remains to be asked; and that is if whether Uber could start to accept bitcoin, taking it as a game changer to help the company go back on its track or whether the firm will maintain the same of business model used in 2015, which the report proves it can spell disaster down the line.

Do you think Bitcoin can be a game changer for Uber? Let us know on the comment section bellow!

Source

Images: 1, 2, 3

The Subjective Valuations Of Bitcoin & Gold

In this editorial I aim to contend that the physical properties in gold are the same found in the digital properties of Bitcoin. That both are "social contracts" or spoken and unspoken agreements between humans, which can be considered intellectual property as well.

“There is no value outside the process of valuations” 

~ Ludwig von Mises 

Bitcoin and gold revolve around their usefulness and this is an indirect result of their demand. Consensus in computer science and mathematical equations are a reality. Just as the reality of time and physical space equations. Computational distributed consensus can also be related or an analogy to the biological genetic process. All of this is held between a social contract of consensus of humans to agree and disagree upon.

For thousands of year gold has been a commodity for the human race.  Its only significance in ancient times was its value in making pretty things, and you could make coins with it and trade as well. For many years chemical equations of the physical reality we know as 'gold' cannot be copied. Or at least to the point where it would take massive amounts of power and energy to recreate. Just like the Bitcoin network it would take large amounts of wealth and extensive energy to recreate a Bitcoin or double spends. Gold can be recreated, it is a complicated process which requires nuclear power to make even the smallest fractions of gold. Gold is based off the subjective valuations of the human race. Cryptographic hash is no different than the physical and chemical relations of gold. The trust we put into them, is based off the belief that they are scarce. This is a spoken and unspoken agreement among the people of this earth.

Bitcoins have more in common with gold than fiat. Bitcoin meets all five qualities of sound money: it's durable, scarce, has a trusted value and network effect, it's highly divisible, and is portable. Bitcoins mathematical equations are agreed upon by the network and outsiders. Like most computational consensus networks, it is the trust is in the system's reliability to thwart faulty processes. Bitcoin does this and achieves it through ‘Proof of Work’ a measure in economics to deny service attacks.

The belief is that we trust the network, its mathematical equations and dynamic network consensus subjectively. We all agree and trust in the encryption itself just as we do with the chemical properties of gold and its physical space.

“There is no value outside the process of valuations” Mises once said. As of now there is no conventional method of computing that can break the digital properties of Bitcoin. This is a subjective valuation of humans brought upon by demonstrated preference. The mathematical equations of Bitcoin hold the same reference to the physical properties of gold and its objectivity concerning reality. Subjectively subscriptions must be made by individual perceptions. However, this can be confusing as the ends or the rules of the game are often mixed with the means and physical givens. Again, both Bitcoin and gold lie in the latter not the former, and point of reference is demonstrated preference.

Encryption has always been one of the many concepts humanities have used as a form of value. In cryptography, encryption is the process of encoding and decoding messages or numbers. The earliest known ciphers were written in hieroglyphs. In time infamous forms of encryption, such the “Caesar Cipher” came into use in ancient days. Giving the value of encryption, this subscription humans use is no different than gold or its matter of age. The value can be regressed just as far as gold can. The use of mono-alphabetic ciphers were used often and trusted by humans until the late sixties and seventies when computational encryption came into effect. Alice and Bob were born into this world adding more depth into cryptography and game theory. Public and private key cryptography have been given even more extreme value by humans with a class or identification of asymmetric mathematical equations used by the public daily.

So what really is the difference between Gold and Bitcoin in physical and intellectual space? You know our human subjective valuations. If the Bitcoin's can be contained in a form of property or held in a device mathematically, then they are indeed property. Although this is only a social contract or agreement between the owners of such property with its users, miners, and coders in the network. Also between non users of the network. That the coins can be held as property and cannot be reforged in a different fashion. The same goes for the physical aspects of gold and its aspects in alchemy. The network or world, including outside forces are unable to break the "social contract" or "trust" just as the physical elements of gold or certain metals cannot be copied by a human/alchemist.

We already know that certain 'fakes' and real gold can be made. But it doesn't meet the world's criteria to fit the exact same mathematical and 'physical chemical' elements that make up mined gold. Otherwise we could all make shiny metals or we could all claim ownership to private keys in, which would manifest as the same as the next person. Unfortunately, we cannot. No one here has the necessary quantum computer power to break my mathematical SHA256 public/private key equation. No one can divide my Bitcoin. Not one person can claim ownership to my keys, how I store them in my brain, transfer them to hardware, or paper. Maybe I would hide them forever, so not one person could ever find these keys again. Until they do attain this power whether they attain it through code or through magic/alchemy it's is my property both physically and intellectually. Both mutually exclusive for the time being.


How is gold any more or less tangible than a contract of chemical elements humans have composed in books or on paper? It's a contract that cannot be broken unless the network or outside forces who oppose the network break the spoken and unspoken agreement. Same goes for gold. Gold is a "social contract" written on paper that cannot be copied or manifested differently. The physical elements of gold and its chemical makeup is a “white paper” for the whole world to agree to. These elements, thus far in our world have not been broken. The words written on the paper cannot be conflicted, with both Bitcoin and the physical elements of gold. If I were to create a fake gold with one chemical element missing from the equation, anyone could contest this with their peers over the difference. Otherwise, what's the use? It's a soft yellow metal that can be copied physically and can be tangible in the same way.

This "fools gold" can be made right now. But it doesn't meet the "white paper" on the physical and chemical elements that make up gold.

There is no difference between gold and Bitcoin in this fashion. It is agreed upon by its inherent demand and its value. Otherwise, it would not have demand or value properties among humans.

What do you think about the similarities and properties between Gold and Bitcoin. Let us know in the comments below. 

Images courtesy of Redmemes 

Future Use Cases For Blockchain Technology: Decentralized Peer-to-peer Bitcoin Exchanges

Bitcoin exchanges are the premier solution for everyday consumers to buy and sell Bitcoin in exchange for fiat currency. That being said, the current Bitcoin exchange business model makes these companies act as an intermediary, a third party, which is not what Satoshi Nakamoto originally envisioned while creating Bitcoin. That business model will need to change sooner or later, as more and more consumers are opting to use peer-to-peer exchange options.

Note from the Author: The following article refers to traditional Bitcoin <-> Fiat currency exchanges. Examples such as LocalBitcoins and Bittylicious are not included, as they already exist. The number of true peer-to-peer exchange platforms is still fairly low, which is what is being addressed below.

Bitcoin - No Middleman Involved, Except For Exchanges…?

Traditional Bitcoin exchanges are a bit of an odd creature in the world of digital currency and decentralized solutions. Bitcoin itself is a decentralized payment method, which focuses on enabling peer-to-peer transfers of value without using any intermediary or third party service. Satoshi Nakamoto wants to put the end user in full control of their finances at any given time.

However, most people use Bitcoin exchanges that embrace the “old” financial model: customers send funds to the exchange - either in fiat or BTC - which is then held in the company’s wallets or bank account. Granted, customers can trade with other users on the exchange directly, as buy and sell orders are being matched with one another.

When the customer wants to withdraw funds, though, it has to pass through the Bitcoin exchange’s wallet or bank account once again. It is clear that most Bitcoin exchanges are in fact money transmitters, rather than peer-to-peer exchanges. After all, Bitcoin exchanges have to make money somehow, and there is no way to do that without holding customer funds and taking a cut for every transaction processed.

For a long time, this business model has remained unchanged, as there has been no clear need or desire by customers to fix things when they aren’t broken. But once these Bitcoin exchanges stepped up their identity verification process and started asking for additional documents, the Bitcoin community showed the first signs of unease.

Running a Bitcoin exchange anywhere in the world is not an easy feat, as there are multiple regulatory and legislative requirements to take into account. Additionally some countries or states may require Bitcoin exchange operators to obtain specific licenses, a tedious and costly process. All of those investments have to be recouped somehow by the Bitcoin exchange, which is why there is a fee for every transaction.

That being said, the story remains the same: Bitcoin is all about a peer-to-peer transaction with no third party involvement, and it looks like the Bitcoin exchange scene will have to adapt their business model.

Decentralized Peer-to-peer Exchanges Using Blockchain Technology

True peer-to-peer platforms, such as LocalBitcoins and Bittylicious, have seen great success in recent years. The reason for that success is quite simple: there are no fees involved, and users can directly exchange Bitcoin and fiat currency with each other using the same payment methods they would use on traditional Bitcoin exchanges.

There is something to be said for conducting peer-to-peer Bitcoin exchanges, though. Granted, not all of these trades will take place in person, as walking around with pockets full of cash can attract unwanted attention. But having direct contact between buyer and seller is the way business should be done, especially now that blockchain technology is playing an ever-increasing role of importance in the world of technology.

Having no middleman or third party controlling user funds, both in BTC or fiat, leaves the customer in control of their finances at any given time. This is exactly what Satoshi Nakamoto envisioned when Bitcoin was released: everyday people establishing a market of supply and demand on their own accord, without any outside involvement.

Plus, there is another upside to peer-to-peer Bitcoin exchanges compared to their traditional counterparts. Platforms such as LocalBitcoins offer a reputation system, which gives future customers an idea of the other person's previous trading experiences. Reputation in the Bitcoin world is transparent for everyone to see, and one wrong move can tarnish years of building up credibility.


What are your thoughts on traditional versus decentralized Bitcoin exchanges? Let us know in the comments below!

Images courtesy of Mitigation Partnership, Jamie McIntyre, and QWealthReport

An In Depth Interview With Rob Hustle

Rob Hustle a musician and rapper from California has a lot to say. A fan of free markets, bitcoin and a very outspoken activist Hustle doesn't take his name lightly. Hustle made a lot of headlines with his song “Call the Cops” which expresses the many abuses of law enforcement. The rapper is a constant activist who stands for many causes and continues this effort through his music and video. Hustle is currently working on a project that raises awareness about women who've been sexually assaulted by law enforcement. When receiving a message from a woman in need through Facebook, he said had to help and has dedicated his web page Robhustle.com to rally support for this woman and many like her.

As an avid fan of Bitcoin the rapper accepts the cryptocurrency for his services and tips. Hustle believes it is the future of currency and promotes it widely since first hearing about it from a miner friend. Also helping Lyn Ulbricht raise funds for her son's federal appeal, Rob has been helping with a video and the fundraiser for her. He believes that Ross had been given a great injustice with his sentencing and aims to tell the world and help the Ulbricht family with this case.

"Bitcoin was a tool - maybe THE TOOL - for freedom, liberty and peace, I bought in."

Bitcoin.com got together with Rob Hustle for an in depth chat on what he's doing to raise awareness. Speaking on topics concerning law enforcement abuse, bitcoin, and many other subjects through his music and lyrics.

Bitcoin.com: How long you been into music and recording?

Rob Hustle: I've been free-styling with friends and making beats my whole life. But my music career started last year when I released Call the Cops. Everything I did prior to that was either for fun or therapy.

BC: Can you tell readers about “Call the Cops” and what that songs all about? 

RH: Call the Cops exposes the lie that the police are here to protect us. Every time there is a police brutality or corruption case, there are thousands of apologists and enablers who act shocked and surprised. Really, you're STILL surprised? Wake up.

People need to understand that every encounter with a police officer is potentially fatal. A cop is someone who is given deadly weapons to deal with threats and then taught that everyone they meet is a potential threat. What do you think is going to happen when they show up?

Most people think cops exist to protect them. Wrong. A cop has NO DUTY to protect you or anyone else. Ask the supreme court. Or better yet, ask Jessica Gonzales, whose daughters were killed because the cops ignored her repeated pleas for help. Or ask Joe Lozito, who was almost slashed to death by a serial killer while the cops hid behind a subway door and watched.

Cops have no duty to protect, period. What they do is enforce laws. They are enforcers. They use force. Do you ever wonder why people get nervous when they see a cop behind them, but not when they see a fire truck or an ambulance? It's because firemen and EMT's are the protectors, and cops are enforcers.

Because cops enforce laws, people mistakenly assign them some kind of moral authority. But laws have nothing to do with morality. Just because something is legal doesn't mean that it is right. Slavery was legal and wrong. Japanese internment was legal and wrong. The holocaust was legal but wrong.

Laws are simply rules made by politicians, and they are as moral as the politicians who made them. Legality has nothing to do with morality. But laws ARE enforced at point of a gun. And the people holding those guns to our heads are the cops.

The funny thing is, a lot of people think that as long as you obey the cops, you have nothing to fear. But even if you are fully compliant, there's no guarantee these cops won't abuse you. You can do everything you're told and still end up beaten or dead. People didn't want to believe it. So I made Call the Cops to show them.

BC: Can you tell me about “ Tell The World” and what that entails?

RH: Tell the World continues my fight against abuse. It was the result of a message I got from a fan who had heard Call the Cops. I was on Facebook when she sent me this message:

“I saw your video and gotta say it shook me to the core not because it's a race issue but the abuse of authority. I was raped by an officer in May.I had a rape kit done and over 40 injuries documented. My case will never see a courtroom. Why? Because the “good old boys club” prosecutor told my attorney that they would charge me until I went to prison if I didn’t drop my suit against the city. I was a registered nurse, college educated, married with children christian. Your video validates that things aren’t what we always see.. My attorney told me justice is seldom about the truth. Good Luck with your endeavors.. you have my support.”

I wanted justice for what happened to this woman. But I couldn't fight back legally. So I fought back with the only weapon I had - music. That's how Tell the World got started.

BC: How long have you been into Bitcoin, and could it help the music industry?

RH: I've known about Bitcoin for a long time. One of my friends - an engineer at Google - started mining at the very beginning. But, I realize its potential until I met Roger Ver at Anarchapulco. Before that, I had only thought of Bitcoin as a currency. But, after talking to Roger, I realized that Bitcoin was a tool - maybe THE TOOL - for freedom, liberty and peace, I bought in.

Bitcoin's greatest value to the music industry specifically is linked with it's value to business and freedom in general

BC: Do you think Ross Ulbrichts sentence was severe?

RH: There is a reason that creating a website can carry a harsher penalty in this country than murder or rape: rapists and murderers aren't a threat to the government. They are a threat to the people of this country. But they don't affect the country itself. A free market website, on the other hand - especially one the government doesn't control - could be a problem.

That's why they made an example of Ross Ulbricht.

What the government really wanted to do was kill Ross. But because they still had to maintain a veneer of fairness, they couldn't do it outright. So instead of lining him up in front of a firing squad, they decided to lock him away and let time do the killing for them. But, by making an example of Ross, Judge Katherine Forrest also made an example of the US criminal justice system.

The government, like the police, will not protect you. But they will act with deadly force to protect themselves from you.

BC: You worked with Lyn and FreeRoss.org can you tell me a little about this?

RH: I was talking with Danny Sessoms from the Crypto Show, and he told me that he was working on a fundraiser for Ross's appeal. I was working on the pitch video for my Good Cops campaign and asked if they had a campaign video. Danny said that they were in the process of putting one together, and since I believed in the cause, I volunteered to help.

While I was making the video, I got in contact with Lyn and Kirk Ulbricht. They gave me great feedback and we've been working on more things that we can do together to help move Ross's appeal forward. Music is an obvious choice. I already have a bitcoin song in the works, so I am looking at integrating the Free Ross campaign into it. But, we are also looking at other ideas.

I recently received a copy of the court transcript for Ross's sentencing, and I'm in the process of recording portions of it and publishing them online. The judge in this case really says some crazy stuff, and once people hear it, they might start to question the legitimacy of the sentence.

For instance, one of the arguments presented at trial was that Silk Road made it safer for people to buy drugs. What does the judge say? IT DOESN'T MAKE IT SAFER FOR THE DRUG DEALERS!

No joke:

21 So, those drug dealers, when they go out, where is the

22 hand-to-hand harm reduction for them? And drug dealers are

23 targets of violence. So, when they get their express mail

24 package in the mail and it is sitting in their apartment, are

25 they not the targets of somebody coming in?

I want to get these soundbites out there so that people can hear for themselves the logic behind this life sentence.

BC: What can Bitcoin do and decentralized apps such as this to ward of tyranny?

RH: Bitcoin Promotes Peace
If you look at many of the bad things in this world, they are made possible because governments and banks can print money at the push of a button. It's how wars are financed, markets rigged, and currencies manipulated. But what would happen if you took away the magic money machine? All of a sudden, it becomes a lot harder to buy that bomb, manipulate that market, pay that cop.

Bitcoin Promotes Voluntary Exchange
Bitcoin makes it harder for governments to control you. Right now, the government can monitor every banking transaction you make. If they don't like what they see, they can freeze your assets or even take them money straight out of your bank account, even if you legally earned it. That's not as easy with Bitcoin.

With Bitcoin, you can't just take money from my account. You have to ask me for it nicely. And I have to agree to give it to you. Can you imagine if you had to agree to let the government drain your bank account? Or if they had to ask permission to collect taxes? It would change everything.

Bitcoin Promotes Entrepreneurialism
Bitcoin makes it incredibly easy to start a business. If you want to start a business in the US, there are numerous legal hurdles you have to meet involving age, legal status, documentation, licensing and so forth. But with Bitcoin, a person of any age, legal status, nationality, or background can set up a wallet and begin transacting in a matter of minutes.

Bitcoin Promotes Free-er Markets
Bitcoin allows people to start businesses without asking for the government's permission to do so. As a result, it facilitates the creation of free-er markets like the Silk Road.

To me, markets like Silk Road are not about whether drugs are good or bad. They are about whether your body belongs to you or to the government. If the government owns your body, they can tell you what to do with it. But if they don't, they can't. Anonymous markets like Silk Road are just a way to opt out of the government's control.

Organizations like Cop Block Wake People Up
While Bitcoin provides a starting point for a better, freer system, organizations like Cop Block provide the social impetus to switch over to them. A lot of people believe "If it ain't broke, don't fix it." The problem is, most of them are blind to the systemic problems that we are facing. By getting in the trenches and screaming, "IT'S BROKE!", organizations like Cop Block helps people wake up to the problems that need to be fixed.

But we need to take it farther. Once people realize that the system needs to be fixed, the next question is, "Okay, how do we do it?" We need to give them an easy to follow blueprint so that they can start making impactful changes in their daily lives. That is where a lot of our future activism needs to focus.

BC: What's Rob Hustles plan for the future?

RH: Music is my weapon and I've only just begun to fight.

I left a career in IT to pursue this work, fight for this cause, and spread this message. In the coming weeks and months, I will be dropping numerous music videos and activist related videos, like the transcripts from Ross's trial.

The next video I will put out looks to be Good Cops, which is the sequel to Call the Cops. Shortly after that, I will be releasing Tell the World. After that, I'm not sure. I have a lot of material ready to go.

I re-united with Bump, my partner on Call the Cops, on a track called Brain on Drugs, which takes on the Prison Industrial Complex and the War on Drugs. I also have False Flag, taking on the Military Industrial Complex and Shoot Em Up, which deals with overmedication of students, veterans and the elderly. And of course, I am writing a song about Bitcoin. I don't know the exact order, but I'm pushing hard to get all of those song out ASAP. If anyone wants to help support my activism, contact me via my website or fan page, or donate coin for the cause.

What do you think of Rob Hustles activism? Let us know in the comments below.

Images courtesy of Rob Hustle and Redmemes 

Future Use Cases for Blockhain Technology: Distributed Email Services

In this day and age, most consumers use email addresses on a daily basis. However, it has to be said that most of these email addresses are associated with a certain centralized provider. Internet service providers have their own email address extension, Google has one as well, and there are the university and high school email addresses as well. Yet in the end, all of them are centralized services, and the blockchain can change all of that.

Also read: Future Use Cases for Blockchain Technology: Copyright Registration

Centralized Email Address Services Prone To Government Intrusion

Regardless of which email provider a consumer uses today, all of these services are centralized in their very own way. Let’s take internet service provider mailboxes, for example, which are complementary when signing a contract with one of these companies. They offer a handful of free mailboxes to the customer, but there are strings attached that are not known to the end user most of the time.

The first issue arises in terms of the mailbox belonging to the internet service provider itself, which means they will log any and all activity occurring with those specific email addresses. For most consumers, this is not something to worry about, as they have nothing to hide. But the fact that ISPs can spy on everyday communication is a worrying fact to say the last.

Secondly, all of these internet service providers have to answer to the government of their respective country. Assuming the government would ask the ISP to turn over all information on their users, including logs of certain mailboxes, there is nothing that can be done about it. Major companies, including ISPs, have to comply with government regulation, which is a particular worry for centralized services.

But even if the consumer would pick a different email provider, they are still not out of the woods. Even popular mail services such as Google’s Gmail are subject to regulation and privacy intrusion, both from the company itself and government officials around the world. Centralized services are not safe, nor secure, and should be avoided whenever possible.

Unfortunately for the everyday email user, the number of options is fairly limited outside of using centralized services. Granted, there are offshore email providers that operate in areas where there is no governmental influence from other nations. Then again, using such a service is usually associated with criminals, terrorists, and people who have something to hide in general.

Blockchain Technology to Create Decentralized Email Service?

A solution to the problem of centralized email providers might just be around the corner. Blockchain technology, the same that powers the Bitcoin network is quite versatile in terms of what can be achieved. In fact, there are thousands of possible applications for blockchain technology outside of the financial ecosystem.

Creating a decentralized distributed email service is one of those examples. The blockchain uses wallet addresses to identify Bitcoin users on the network, and the same ideology could be applied to email services. Issuing email addresses over the blockchain, and using the underlying technology to ensure communication, could create a whole new paradigm of online communication.

Unlike centralized email service providers such as Google or an ISP, email communication over the blockchain is not subject to governmental influence. There is no centralized server farm to take control of in order to gain access to personal records, as the entire system is decentralized and controlled by the individual users and network nodes.

Granted, it will take quite some time until such a system will be developed and made available to the public. But when Satoshi Nakamoto created Bitcoin, the underlying thought has always been to push adoption of blockchain technology for all kinds of different use cases. And if Bitcoin itself can benefit from that stimulated growth, all the better.

What are your thoughts on using blockchain technology for email communication? Let us know in the comments below!

Images courtesy of Shutterstock and Gmail

Bitcoin Shop Inc is Making Strategic Partnerships

BTCS is in the business of developing, marketing and operating an e-commerce website, offering an online marketplace for transacting business in digital currencies. Bitcoin Shop Inc was the first ever listed bitcoin firm. The company is involved in a series of Bitcoin investments in the Bitcoin mining business as well.

Bitcoin Shop Inc (OTCMKTS:BTCS) operates the website btcs.com where consumers can purchase products using several digital currencies, by searching through a selection of over 2,000,000 items from 85 retailers (“Beta”), as well as their legacy site at legacy.bitcoinshop.us.

Recently, BTCS has been making big market moves. It has made several important acquisitions and investments in recent months to drive future growth, for what seem to be very smart investments; BTCS was one of just four investors in GoCoin Series almost a year ago. Since then PayPal partnered with GoCoin in what is assumed to be their upcoming bitcoin integration.

In October of last year, BTCS made a strategic investment in Coin Outlet, Inc. which plans to establish and operate a worldwide bitcoin ‘ATM’ kiosk network.

Bitcoin Shop. Coin Outlet recently partnered with Locant Services who holds the exclusive rights to locate equipment such as bitcoin ATMs at over 100,000 high traffic locations across the United States and in an imminent expansion to Europe.

BTCS CEO Charles Allen declared,

“WE ARE PLEASED TO ANNOUNCE OUR ADDITIONAL OWNERSHIP INTEREST IN, AND PARTNERSHIP WITH, COIN OUTLET. THEIR ATMS SHOULD ALLOW CONSUMERS TO EXCHANGE FIAT CURRENCY FOR BITCOINS THROUGH ONE FUNDAMENTAL AND EASY-TO-USE TRANSACTION. ADDITIONALLY, WITH THE HELP OF COIN OUTLET, WE PLAN TO LEVERAGE THEIR ATM NETWORK AS ANOTHER ON-RAMP TO OUR PLANNED UNIVERSAL DIGITAL CURRENCY ECOSYSTEM.”

On March 26 BTCS announced it has acquired an additional 2% equity ownership in Coin Outlet from Eric Grill, Coin Outlet’s CEO, for 701,966 shares of the Company’s common stock. BTCS now owns approximately 4.2% of Coin Outlet’s equity and has the ability to own up to 11% upon exercise of its previously issued option and warrant.

BTCS it is also in the process of acquiring LibertyX’s ATM network. The four LibertyX machines will be rebranded as Coin Outlet ATMs but will still remain in their existing locations.

BTCS seems to be making all the right moves with an aggressive business plan and rapid expansion in a fast growing industry; currently trading at a $31 million market valuation BTCS the Company’s balance sheet has improved significantly with over $100,000 in cash and over $200,000 in digital currencies on the books. With these aggressive moves, the company is surely planning to take a lead on the Bitcoin ATM scene.

Recently, a lot of investment has been driven to bitcoin companies and the market is growing as it is expanding by the day. The bitcoin industry continues to display major momentum with an increasing number of bitcoin related startups opening its doors and offering a lot of jobs. This is attracting a lot of interest from new investors from all financial sectors who don’t want to miss to take a slice from this new industry.

What do you think this can do for the bitcoin economy? Let us know on the comment section bellow!


Source & Image

Finance is for Lovers

Financial topics are generally unpleasant. They bore people. They kill excitement and cause a yawn reflex. These fields are also bogged down by esoteric math and jargon. There is nothing sexy about them—but there is something more nefarious at work. These topics cause anxiety because of the way the current system is setup and because of how most people feel about their personal finances. The structure of the system is built on a debt, and likewise most participants are mired in it. Discussing these ideas is not something that people fantasize and dream about. They just get confused and panic, so they repress the discussion.

Bitcoin is the Antidepressant of Money

Crypto-finance is changing this desperate situation. People can now enjoy finances and financial topics. They want to learn more about it. They can feel that their money is valuable. The emergence of cryptocurrency has made this possible, especially through Bitcoin, which offers fun and excitement. It is based on sound money and a sound payment system. It incites potential for innovation. But above all, it is not debt based. Bitcoin encourages happiness.

This happens because of Bitcoin’s programming. Bitcoin is decentralized and not controlled by a group of actors who can manipulate it and confuse people. Bitcoin spurs incentive to learn about its protocol and creation process. Since there is no authority confusing people with complex ramblings on a fiat system, Bitcoin beginners can rely on their own judgment and knowledge. They will actually want to venture out and gain comprehension. This fuels the discovery process, and thus people begin to manage their finances without anxiety and fear.

The Bitcoin platform is open source and transparent, too. Anyone can alter it so long as the network unanimously agrees on the change. This is ultimate democratization of finance. This simple idea sets the precedent for an enjoyable financial world, because people do not have to feel like slaves to money. They can feel free to alter the system through a process of consensus, or they can simply create their own cryptocurrency to compete for space. The current financial system is built on financial totalitarianism, where only a few currencies in a given region are heralded as the only viable option, and other currencies are potentially made illegal.

The other exiting property of Bitcoin it is its deflationary nature. Since fiat currency is debt dependent, and can be printed at will, people do not consider saving it. This makes them unhappy. Bitcoin, however, is based on a protocol that sets a limit on how many units can be put into the ecosystem, which is precisely 21 million. So people know for a fact it is valuable. This incentivizes savings. This denotes that Bitcoin is the antidepressant of money.

To learn more about bitcoin click here!

Bitcoin Gets all the Gals

It is just crazy fun learning about Bitcoin, because people know their money belongs to them and represents value. It also spurs interest in all areas of financial technology. Fiat money was just boring. It didn’t do anything to engage interest. 

Fiat money is like the guy at the bar who won’t go talk to the woman because of fear that he is not valuable enough. Bitcoin doesn’t care, though. Bitcoin is brazen because he knows he has more class and sophistication, yet he also knows he is smarter and charismatic. This means the girls will want to get involved with him immediately. They just like guys who have more value and seem to grow more vigorously, and who will be worth it in the long run. Fiat is the guy who is burned out and has a horrible job anyway. Thus, Bitcoin gets all the gals. 

A New Kind of Person

The aforesaid reasons are why society will start seeing a new breed of person emerge. This individual will be the kind of person who wants to hold money. This person will stake his life on it. It will be the kind of person who feels monetary freedom, and has interest in all areas of finance. This will not be a person who is burdened by debt, and taught that money is evil from an early age. This type of person will be a potential entrepreneur, and who will have a real grasp of economics.

Bitcoin can be purchased and used world wide.

This won’t occur because people had to teach him money, especially in the humdrum and boring way that it has been taught. It will be because he was brought forward in a different kind of economic age, where money is truly scarce, and it is something to be appreciative and respectful of. This is the person of the future, a person who will truly enjoy finance…maybe even love it.

Please read this brief introduction on Bitcoin: https://www.bitcoin.com/en/you-need-to-know
 Learn about the Fed and Fiat Money Here: https://www.bitcoin.com/en/bitcoin-news/590739302839148931-how-cryptocurrency-can-abolish-the-fed-part-1-what-is-the-federal-reserve-system

Do you think Bitcoin will spur people to be more financially savvy? 

Image Sources: 

Notbeinggoverned.com

commons.wikimedia.org large

zerogedge.com

 

Future Use Cases for Blockchain Technology: Digital ID Verification

The number of use cases for blockchain technology is nearly limitless, but there are certain aspects of life that could, and perhaps even should, benefit from this wave of innovation sooner rather than later. One of the more interesting use cases for blockchain technology is digital ID verification, which makes the entire online experience more user-friendly for the everyday consumer.

Also read: Verification Procedures Ruin Online Shopping Experience, Blockchain-Based Solution To The Rescue?

Trusting Third Parties With ID Verification Is A Bad Idea

Society has evolved in various directions over the past few years, and both online and mobile experiences are playing an ever-increasing role in our lives. That being said, most of customer internet usage still takes place near a computer, and most services and platforms being used do not scale properly on mobile just yet.

But there is a certain drawback to most of the features and platforms consumers use on a daily basis: they all need some form of verification or registration before they can be used properly. One thing that has become clear is that using just a username and password to access any service is far from sufficient these days.

Two-factor authentication is an additional step in the right direction of providing customer security, but that only protects the login part of the experience. The major problem lies with the services that require users to submit some form of verification to confirm their identity, both in the Bitcoin space and outside of the realm of digital currency platforms.

Consumers are forced to submit documents - such as an ID scan, copy of passport and even a copy of a credit card - to third party services for verification purposes. All of these documents are then stored on centralized servers, where they become a favorable target for hackers and hoodlums. For the end consumer, Identity theft is a serious problem, especially since the Internet became more and more popular.

Luckily for all parties involved, there is a solution around the corner that could solve all of the above problems while still ensuring security for both business and customers alike. Issuing identity verification through blockchain technology allows consumers to verify their identity while there is no centralized storage of identity documents involved.

Blockchain-Issued ID Verification Has Lots of Potential

Using a digital token issued on the blockchain to perform identity verification sounds simple in theory, but is a lot harder to pull off in the real world. Granted, the technology is there to be used, and it shouldn’t take a team of skilled developers too long to create a blockchain token representing a user’s identity.

In terms of using this token, the user would send that token to the service or company they are using and sign off on the transfer with their private key. Doing so would allow the customer to keep the information confidential, rather than relying on a third-party service or platform to store that data. All of the information associated with that token would only be visible for the sender and intended recipient.

To provide an additional layer of security, an oracle or escrow-type service could be implemented, where a computer verifies the customer’s identity by getting access to the ID token. Once the identity has been checked, that token is then sent back to the owner, and the business or platform is notified of a successful user verification procedure.

In a way, blockchain-based verification would bypass the need for centralized services, additional storage capacity and it could even remove the human element from the verification procedure altogether. However, there is still a lot of research to be done on how this solution could be tackled in a secure manner for all parties.

What are your thoughts on using blockchain technology for verification procedures? Let us know in the comments below!

Images courtesy of Shutterstock

Future Use Cases for Blockchain Technology: Copyright Registration

Ever since the Internet came around, one of the biggest concerns has always been regarding copyright and the impact of online piracy on the earnings of content creators. Over the years, services such as Napster and Gnutella have come and gone, resulting in people legally buying music through platforms such as Itunes, or listening to internet radio via Spotify. But despite best efforts in the fight against piracy, it remains a real threat to this very day. This is where blockchain technology could make a huge difference.

Also read: What Is Bitcoin XT & What Is Happening With Development of The Bitcoin Core

Copyright Registration Is A Strange Process

Until a few years ago, most researchers concluded that piracy only took place because people don’t want to pay for things legally, even if it is of a high quality. To a certain extent, that statement seemed to hold merit, as the “new generation” has grown up with platforms where nearly all content they want is available for free, or else they know how to get it for free.

Yet at the same time, there has been a growth in terms of “all-you-can-consume” content service providers. Netflix is a prime example of how people will gladly pay a fair amount per month to consume all the movies and tv shows they want, whenever they want, on whatever device they want. The same can be said for services such as Spotify, digital prints of newspapers and magazines, and many more services around the world.

Our society has been evolving into a creature of habit, where convenience trumps everything. All-you-can-consume services, which charge a fixed pay rate per month, are seeing great success due to that shift in consumerism. The everyday consumer wants access to the content they need wherever they are, at any time, and preferably on any device.

This brings us back to the topic of copyrighting content in a proper manner. Despite there being plenty of ways to get content legally for a minor amount per month, piracy is still a major threat to content creators. Not only is online piracy hurting the income of content creators - although the true impact will always be a topic of debate - but it also exposes some weakness in the existing copyright issuing protocol.

Depending on where an artist lives in the world, obtaining copyright for self-created content is done in various ways. Countries such as Canada, for example, will simply send a certificate by postal mail for the price of US$50, which then indicates said person has a copyright claim to the specific content. However, when it comes to exerting that copyright claim in court, a simply certificate is not always enough.

Especially when it comes to creating digital content, such as an e-book for example, it becomes incredibly hard to obtain copyright registration for that type of content. Most countries around the world will automatically apply copyright registration as soon as content appears in some tangible medium. Digital content, on the other hand, is never tangible, but that doesn’t mean copyright registration does not apply there.

Using Blockchain Technology For Copyright Registration

To make the process of copyright registration for digital content more user-friendly, blockchain technology be the key factor in solving the puzzle. Copyright registration is effectively creating a form of ownership of that content while timestamping it and then tying that record to the person/group responsible for the creation of the content.

Blockchain technology could be of great importance in this regard, as it serves as a public ledger. Contrary to popular belief, the blockchain is capable of far more than just recording financial transactions of the past, present and future. In fact, blockchain technology can be used to issue and transfer copyright registration of both digital and physical content, if so desired.

Rather than tying the copyright registration to Bitcoin - the currency - a new platform can be built on top of the blockchain. This platform could then issue a token, serving as proof of authenticity, in which a timestamped copyright registration is contained. Once that token has been issued to a certain person, it can only be transferred to someone else when the owner signs off on the transaction with their private key.

From a legal perspective, transparency in terms of copyright registration can help content creators to exert copyright claims once they see their work being pirated. Due to the blockchain’s transparent nature, issued tokens can be viewed by anyone in the world, and the timestamp attached to each token will indicate whether or not a copyright registration was in place at the time of the pirated content making an appearance.

Copyright registration by using blockchain technology will not just provide benefit to digital content creators, but to any type of media owner out there. Not just because it should, in theory, be cheaper to register the copyright on the blockchain, but also because it is far more transparent than the current infrastructure.

What are your thoughts on using blockchain technology to issue copyright registration? Let us know in the comments below!

Source: Wikipedia

Images courtesy of Shutterstock

Bitcoin To Benefit From Children Using High-end Technology At Young Age

It is no secret that children are being confronted with technological advancements at a very early age. According to a recent study, as much as 20% of American parents will buy electronic gadgets for their children when they go back to school in September. Rather than buying calculators, children will receive smartphones, tablets, and even laptops. There is a better way to target this market in terms of Bitcoin awareness than right now, as these children could very well be the future coders of blockchain technology applications.

Spoiling Children With High-end Electronics

Whether people want to admit it or not, the educational system is changing as teachers embrace technology more and more. As a result of that stance, children are being introduced to various degrees of technology at an early age in the hopes of stimulating interest in figuring out how devices work, and creating a new wave of developers.

Due to the fact that young children are confronted with these technologies, parents will need to change their back-to-school shopping habits as well. Granted, there will always be a need for backpacks, lunchboxes, and even crayons, but more and more parents are planning to purchase high-end electronics for their little progeny.

Even though these high-end gadgets are not mandatory for children to complete their classes successfully, it has somehow crept into the parents’ mindset these electronics are a must. Both tablets and laptops can have a certain level of educational use, but there is no reason for a seven-year-old to walk around the playground with a smartphone.

Various US schools are trying to ban smartphones from classrooms at an early age, as teachers feel these electronics are only distracting children. In fact, some industry experts go as far as saying that smartphones are disrupting the educational system altogether. Whether or not further regulatory measures regarding smartphones at school will have to be taken, remains to be seen, but there is certainly room for debate.

Despite the schools taking a negative stance towards the growing number of smartphones in elementary school, parents keep buying these devices for their children in order to enrich their educational experience. This is just another example of how our society has been focusing more and more on consumerism, in which everyone is pushed to buy more things at higher prices.

There is a case to be made in favor of smartphones in elementary school, though, and that is how these devices can bring an additional sense of security to the table. Children can remain in touch with their parents with a few taps on the screen, and parents can monitor their child’s location through the smartphone. However, that isn’t an excuse for the brainwashing US parents have undergone in the past five years.

Tablets and laptops, on the other hand, have a clear use case in terms of education purposes. Especially for schools looking to introduce young children to the world of coding through interactive learning, both laptops and tablets are an integral part of the process. Plus, both devices can be used to great advantage when it comes to taking notes or drawing.

Focusing Bitcoin Education Efforts on This Demographic

The saying "our children are our future” holds a lot of merit in every meaning. Especially when Bitcoin enthusiasts with a new breeding ground to spur on blockchain development.
considering the connection between young children and electronic devices that seems to become a norm more than an exception these days. Such a paradigm shift could provide

Keeping in mind these children have either a tablet or laptop at their disposal - in most cases that is - there is no better time than now to focus Bitcoin-related educational efforts on this demographic. Coding is all about having fun, and figuring out how things work while spurring a new wave of development at the exact same time.

Decades will pass before the Bitcoin community will be able to fully unlock the technological potential provided by the blockchain. In order to achieve that goal, many more developers from all over the world will need to be educated on both Bitcoin and blockchain technology. Such an educational effort could benefit from starting at a young age, as the future generation of developers will be making their way to elementary schools around the world in a few weeks from now.

Explaining Bitcoin and the underlying blockchain technology to adults is hard enough as it is, part of which can be attributed to the technology and services they have grown accustomed to since childhood. Influencing the minds of young children on how Bitcoin and the blockchain can play an important role in the lives of everyone on this planet. This might just be the boost the disruptive digital currency needs to gain mainstream adoption.

What are your thoughts on young children taking high-end electronics to school, and can Bitcoin benefit from this trend? Let us know in the comments below!

Source. CNET

Images courtesy of Shutterstock