SlideShare is now on Android. 15 million presentations at your fingertips.  Get the app

×
  • Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
 

Bitcoin: The Cyberpunk Cryptocurrency

by Professional Cyberpunk at Net Brew Ventures on Sep 22, 2012

  • 67,470 views

Bitcoin is touted for its many improvements to traditional currency. It is easy to transfer, requires no central authority to administer, works across political boundaries, and is easy to use.

Bitcoin is touted for its many improvements to traditional currency. It is easy to transfer, requires no central authority to administer, works across political boundaries, and is easy to use.

But beyond the practical niceties and technical implementation details is the true intention of its inventor, Satoshi Nakamoto, who has now vanished and is unable to tell his story. Bitcoin is trying to solve a much larger problem: the economic instabilities of paper currency that fundamentally affect us, change the nature of business in our economy, make it hard for us to put valuations on things, and lead to a cyclical, chaotic economy of prosperity and recession that is both wasteful and ravaging to the progress of humanity and the stability of our lives.

In this talk, I will demystify currency and delve into the fundamentals of economic exchange. I will discuss how currencies work, what gives them their value, why most of them are fundamentally flawed, and how these flaws manifest themselves in our world. I will discuss how Bitcoin intends to solve these problems, the rearchitecture of our economic lives that would happen if we used it for everything, and where things might go wrong.

This talk was done at CyborgCamp 2012. There is a video of the talk available here: http://www.ustream.tv/recorded/26694951

If you like this, send me a tip! My Bitcoin address is 1AQHTW9MaAbaoN5xLcNPcas6LACg4jmavd. Thank you for your support!

Statistics

Views

Total Views
67,470
Views on SlideShare
62,730
Embed Views
4,740

Actions

Likes
130
Downloads
0
Comments
8

50 Embeds 4,740

http://es.slideshare.net 1458
http://www.scoop.it 1312
http://fr.slideshare.net 491
http://de.slideshare.net 275
https://twitter.com 261
http://www.ur2die4.com 161
http://sonicalkaline.wordpress.com 123
http://vellum.tumblr.com 115
http://www.redditmedia.com 68
http://courses.twomini.com 64
http://www.amanfrommars.blogspot.co.uk 51
http://erkan.wordpress.com 43
http://emgeenglish.blogspot.com.ar 38
http://translate.googleusercontent.com 29
http://amanfrommars.blogspot.com 28
http://bamboo.bugs3.com 27
http://mario-cosme.blogspot.com 27
http://bitcoinful.com 24
http://erkansaka.net 23
http://storify.com 22
http://amanfrommars.blogspot.co.uk 21
http://bitcoinconfidential.com 15
http://www.plurk.com 11
http://www.linkedin.com 9
http://franciscoburgos2410.blogspot.com 6
http://faxo.com 4
http://www.amanfrommars.blogspot.nl 3
https://web.tweetdeck.com 2
http://www.emgeenglish.blogspot.com.ar 2
http://emgeenglish.blogspot.com 2
https://www.google.com 2
http://pinterest.com 2
http://1.rp-api.com 2
http://www.pinterest.com 2
https://www.facebook.com 2
http://emgeenglish.blogspot.com.es 1
http://tweets.consultingcentral.ch 1
https://www.linkedin.com 1
https://www.rebelmouse.com 1
http://kred.com 1
http://abtasty.com 1
http://es.slideshare.net. 1
http://prlog.ru 1
http://amanfrommars.blogspot.com.br 1
http://amanfrommars.blogspot.ru 1
http://amanfrommars.blogspot.co.nz 1
http://hootsuite.scoop.it 1
http://www.amanfrommars.blogspot.com 1
http://amanfrommars.blogspot.ch 1
http://shramba 1
More...

Accessibility

Upload Details

Uploaded via SlideShare as Apple Keynote

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel

18 of 8 previous next Post a comment

  • ronteixeira Ron Teixeira Mr. Drake, you have a very loose understanding of monetary policy. Deflation is not good. It caused the Great Depression and the Great Recession of 2008. The Bitcoin is crashing right now because of deflation. There's no reason for anyone to use bitcoins to pay for goods because they are worth too much, so everyone is hoarding them. Until there is a panic, and then everyone tries to sell them at the same time and the price of the currency crashes. Hence the bitcoin goes from being worth 205 USD to 77 USD in two days.

    If the bitcoin is ever to become a true currency, merchants or individuals need to exchange it for services or goods. Without inflation and the onset of deflation, bitcoin has become a commodity that has no intrinsic worth like gold. Why would someone use a bitcoin to pay for a pizza when it's worth 205 USD today and maybe 215 USD tomorrow. They don't.

    Instead, individuals use the bitocoin as an investment, which makes it highly susceptible to hoarding and panic selling, especially since bitcoins can't be used for anything else. Similar patters can be witnessed in international 'futures markets,' only most commodities are used to make something.

    Crazy price swings in currency creates two issues, 1) speculators enter the market thereby creating more instability (this is what happen to the Germany currency in the 1930's) 2) it causes great uncertainty and merchants/commerce hate uncertainty. Therefore, merchants and individuals will not adopt the bitcoin as a currency because it's value could swing from extremely valuable on day to becoming worthless the next.

    I truly think the bitcoin is a cool concept and support it. However, a tightly limited supply of bitcoins will only cause deflation, preventing individuals from using it as a currency. Instead they will treat it as a commodity, which will cause speculation and uncertainty in the market and could be the reason the bitcoin fails in the end.
    1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • scyllacat scyllacat @1deadpixl You act like there's only one kind of Economics. There's at least three schools that I can think of, although admittedly, one of them is Voodoo. 1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • LeishaWharfield Leisha Wharfield I took issue with that statement, too, Matt. Everyone can't have everything because there is only one everything and lots of everyones. But if what's meant is providing food, clothing, shelter, education, and health care for ourselves and each other, all we need do is stop warring and start caring. 1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • benjohnson77 Ben Johnson, Chief Technology Officer at Indigo Architects does slide 68 read correctly. 1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • leahey23 Michael Leahey, Coach, Consultant, Author & Public Speaker at Michael Leahey: Creative Collaborations Overall excellent, though you are misinformed about inflation. 'Printing money' (which isn't literally what happens, but it's the lingo) when the economy is depressed actually helps put people to work - it's good for the economy. You may want to read some Paul Krugman for a more nuanced understanding. Taking this out of your argument, it's a very interesting take on what currency means. What do you think about the huge bubble in Bitcoin value that's happening right now?

    And, your presentation would be more persuasive if it ended with a recommendation or call to action.

    Thanks for the information.
    1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • thematt1 Matt McThree @1deadpixl monetary economics, yes. we would still need to manage resources on a finite planet, which is the core of what an economy is (look up dictionary definition). I would call our current monetary system an anti-economy. 1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • 1deadpixl 1deadpixl you just disagreed with the basis of economics. without economics the presentation could end somewhere around slide 9 and that wouldn't be very exciting, now would it? 1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
  • thematt1 Matt McThree there actually are enough resources on the planet to provide everything for everyone. just not in the current, buy more and waste, society. 1 year ago
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Bitcoin: The Cyberpunk Cryptocurrency Bitcoin: The Cyberpunk Cryptocurrency Presentation Transcript