Min.io & Bitcoin at #hackstb

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My talk on Bitcoin and our new site: http://min.io at #hackstb. Min.io is a very easy way to sell your digital goods for Bitcoin.

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Min.io & Bitcoin at #hackstb

  1. 1. Min.io & Bitcoin #hackstb
  2. 2. What is Bitcoin? • Decentralized medium of exchange, that allows • Instant, anonymous* worldwide value transfer • For little fees. • Other features: • Finite supply • Infinitely* divisible • Created through “mining”.
  3. 3. Decentralized • Network of computers verify transactions together. • Solves Byzantine-Generals problem. • Reaches consensus through proof-of-work.
  4. 4. Instant value transfer • Your money is just bits and bytes anyway. • Why can I send a message instantly across the world, but not money? • *Anonymous: • Whose address is this? 18HY7u8RTfXU9AsQHiK8yaaJJ56k3S1U1n
  5. 5. Zero (or little) fees • Fees prioritise your transaction and • Supports the miners (computers verifying transactions).
  6. 6. Limited Supply • 21 Million BTC. (more finite than Gold). • Rate halved every 4 years. Was 50/10min. Now 25/10min.
  7. 7. Infinitely* Divisible • 21 Million BTC up to 8 decimals. • 0.00000001 = 1 Satoshi. • Can divide as much as the network wishes.
  8. 8. “Mining” (compute hashes) • Topic on its own. In short: • Computers help verify transactions on the ‘shared ledger’. • By computing the correct hash to a block, they show they have provided proof-of-work and block gets appended. • Reward: 25 BTC/block.
  9. 9. Why is it amazing? • Central authorities can’t devalue your money (see hyperinflation). • Mathematically enforced scarcity. • More divisible than any money (see deflationary critiques). • Very small fees to transfer value across the globe. • Open source. • Worldwide market for payments.
  10. 10. I want to be a part of this! • Most exciting experiment in the world since the internet! • Mining? Nope. • Trading? We are not traders. • We can code! Let’s make something! • Contributes to economy.
  11. 11. I want to be a part of this! • PayPal doesn’t cover the world, and takes long to set up. • It’s easy to pay if you have a credit card. Difficult to accept payments. • We are creators… so let’s make it easy to accept Bitcoin for digital goods.
  12. 12. Min.io • Easily sell your digital goods for Bitcoin. Enabling creators. • Upload item, set price, share it! • Demo time!
  13. 13. Min.io: architecture • Built with Django + Node.js. • Running on Heroku, S3, EC2, SES, Route 53. • App server, Payment Server + Wallet. • Supported by Trello and Google Hangouts.
  14. 14. Min.io: Where to? • See what happens. Promote, market, get feedback, iterate. • Support altcoins? • Deterministic address generation.

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