The Future of PaymentsFor most people Bitcoin is the futureFor me, Bitcoin is the presentFor science fiction writers, Bitcoin is the pastSome people have been working on completelynew technologies based on Satoshi´s ideas,like contracts or scripting. Maybe technologiesand solutions nobody has ever written about.
The Tip of The IcebergOne of the main contributions of Bitcoin to thefuture of cryptocurrencies is the appearance ofregulated traders fiat-Bitcoin.Once the money is virtual, it can be traded forother cryptocurrencies peer-to-peer withouthassle, and no enforceable regulation.
P2P cash + P2P trading + P2PStrategy Gaming +P2P Gambling =DisruptionOnce money is virtual, virtual coin exchangecannot be regulated (or regulation cannot beenforced).Once money becomes anonymous, peoplecannot be traced. No regulation is possible.Once strategy games becomes peer to peer,you can reward the best on themOnce gambling becomes peer to peer, it cannotbe stopped.
Disruptive TechnologiesFive disruptive technologies are required to builda robust peer to peer e-gaming platform:●Peer to peer anonymous, untraceable e-cash●Peer to peer gambling (e-casino)●Peer to peer strategy gaming or mixed(chance+strategy). E.g. Poker●Peer to peer virtual coin trading●Peer to peer reputation systemsBYE BYE REGULATION
Peer to peer poker gamesDo you know Rabin-Shamir-Adleman (RSA) ?Back in 1979 they invented first peer to peerpoker game.But, their solution leaked the strategy of eachplayer.For 30 years Mental Poker was impractical.No any more (MPF)
Online Gambling TrendOnline gaming, particularlypoker, is a multi-billiondollar industry.As of 2013, its30 Billion.In Poker, moneytransferred betweenplayers is probably 25times the revenue.
Atomic Virtual CoinTradingCoin must be designed to support it.Bitcoin does not support it (yet).New coins can be traded against Bitcoin if theysupport the P2PTradeX protocol.With P2PTradeX protocol newcomers get theadvantage. (weird!)
Peer to peer anonymous,untraceable e-cashBitcoin does not provide true anonymity. Itprovides pseudonymity, and it is quite weak.(CVE-2013-2272, CVE-2013-2273, Satoshisfortune leak). Edit:Two more yesterday.●For Bitcoin: mixers (all or nothing)●ZeroCoin (good, but requires TTP, and hasproblems with multiple coin denominations)●AppeCoin (too soon to tell)
QixCoin●An anonymous Appecoin layer●Time locked group accounts (pot accounts)●Player accounts with psedonimity privacy●A lightweight and fast parallel balance-sheetbased transaction system for paying to/fromthe pot accounts with periodic cleanups.●MPF “Mental Poker” verification engine builtinto the coin to play without arbitration, withperiodic cleanups.●P2PTradeX protocol●All open-source (license terms to be defined)●Built-in prices/bounties for winners
Advise for new alternate e-currencies designersDo not focus on changing the technological oreven economic properties of Bitcoin. That´s okbut...Focus on bootstrapping.How will you get 1M users in 6 months?How you will manage to break the chicken andegg problem?WE NEED BITCOIN TO BE STRONG to use it´sproven fiat trading infrastructure.
QixCoin is in Beta or maybeGammaStay tuned..Thank you.Sergio Demian LernerTwitter: @SDLernerBlog: bitslog.wordpress.com