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Bitcoin ‘creator’: ‘I want to be left alone’, Crypto Currencies vis Blockchain , Money Unit of Account? Store of Value vis Means of Exchange,

March 23, 2016

You heard about Crypto Currencies,

Bitcoin infographic

That’s really cool, can they do anything else?

Dr Craig Smith Says in the infamous video here, That Fourth and fourth like languages actually do loop and have dual-stack architecture. ”Everything we are talking about in derived form contracts can actually be done in the Bitcoin protocol´´. @5’24 ´´

Update Dr Craig Wirght confirms his pseudonym

Dr Craig Smith refers to Ethereum in passing whilst making the point that thinking of Bitcoin as a mere currency is thinking too small. Separating Bitcoin from Bitcoin Protocol is a leap in imagination similar to abstracting the conflicting roles of Money as Store of Value or Means of Exchange from its index function as Unit of account. Peer Coin and Nu Bits provide resolution of these conflicts of roles for money as it is used for different functions.

Extraordinary Claims Require Extraordinary Proof – Dr. Craig Wright Blog: Yesterday, Andreas Antonopoulos posted a fantastic piece on Reddit. Andreas said something critically important and it bears repeating: “I think the identity of Satoshi Nakamoto does not matter”. He’s absolutely right. It doesn’t – and shouldn’t – matter to the Bitcoin community. I cannot deny that my interest in bringing the origins of Bitcoin into the light is ultimately and undeniably a selfish one – the only person to whom this should matter is me.

That’s Nick Szabo in the striped shirt. Take a look at this piece which states that Szabo is Satoshi.
https://medium.com/@jamesfickel/satoshi-is-actually-building-an-ethereum-company-and-other-developments-2c95c08685f7#.grcykaoua

Bitcoin speculation[edit]

In 2008, a mysterious figure who wrote under the name Satoshi Nakamoto released a proposal for bitcoin. Nakamoto’s true identity remained a secret, which led to speculation about a long list of people suspected to be Nakamoto. Although Szabo has repeatedly denied it, people have speculated that he is Nakamoto.^[15]^[16]

Research by financial author Dominic Frisby provides circumstantial evidence but, as he admits, no proof that Satoshi is Szabo.^[17] Speaking on RT’s Keiser Report, he said “I’ve concluded there is only one person in the whole world that has the sheer breadth but also the specificity of knowledge and it is this chap…”.^[18] In a July 2014 email to Frisby, Szabo said: ‘Thanks for letting me know. I’m afraid you got it wrong doxing me as Satoshi, but I’m used to it.’^[19]

Nathaniel Popper wrote in The New York Times that “the most convincing evidence pointed to a reclusive American man of Hungarian descent named Nick Szabo.” In 2008, prior to the release of bitcoin, Szabo wrote a comment on his blog about the intent of creating a live version of his hypothetical currency.^[20]

I do not think it matters either.

This from the Nu Bits White Paper.

The Problems Being Solved by Nu

“Peercoin improved upon Bitcoin by dramatically reducing the cost of network maintenance and giving control of the network to the owners of network assets.”

“Both of these networks contain a critical flaw which Nu resolves. These networks permit the purchase of scarce units used in the networks which function much like shares. If the value of the network rises, the value of these “”shares”” rise. This dynamic has been critical to the success of these networks as it allows anyone to purchase a stake and benefit from promoting the network. These networks have simultaneously been promoted as currencies but have not functioned well as such. Currencies must have a stable value to be effective, while Peercoin and Bitcoin have exhibited exceptional volatility. Many argue volatility will end with the high liquidity that will accompany widespread adoption. While volatility will decrease with greater adoption, it is unlikely volatility will ever be less than occurs with large cap stocks such as Google or Microsoft. This is still an unacceptable level of volatility for a currency.”

Download the whole Paper here.

The Blockchain, What about the Block Chain?

“Early work on smart contracts has been done by Szabo”
“[1997] and Miller [1997]. Around the 1990s it became clear
“that algorithmic enforcement of agreements could become a significant force in human cooperation. Though no specific system was proposed to implement such a system, it was proposed that the future of law would be heavily affected by such systems. In this light, Ethereum may be seen as a general implementation of such a crypto-law system.”

Dr Gavin Wood. from “ETHEREUM: A SECURE DECENTRALISED GENERALISED TRANSACTION LEDGER”
“HOMESTEAD DRAFT”. aka, The Ethereum Yellow Paper.

Ethereum Infographic Image - Beginners Guide

I decided I would not invest in Bitcoin, I had been studying it very closely for about a year but ultimately felt it was not what I was looking for in line with my own political stance with respect to Monetary reform and provision of Credit and liquidity into democratic debt-free community economies. Ethereum does not present the same political reservations to me (YMMV) and I have decided that this is where I will invest heavily , Never would I put all my eggs in one Basket but Ethereum will be the largest hedging play External to my own direct business ventures most of which will and are planned to be in the Crypto Currency, complementary currency, P2P and B2 B crowdfunding field across various asset classes. You can find out some of my own past and future deeds and intentions for Tychastic Investment Group at the link to my public LinkedIn profile below the logo.

https://se.linkedin.com/in/roger-lewis-48175211

One can buy or one can mine Ether as one can with most cryptocurrencies and whilst It is very easy to set up a mining operation with CPU or GPU processing ( AMD based not NVIDIA ). I prefer the convenience and economy of mining with Genesis Mining. I have set up a Mining Contract with Genesis Mining to mine my own Ether. If you click on this link and enter this code you will qualify for a 3% discount through my membership of the Genesis Affiliate Program. As mere speculation, some may prefer simply to buy Ether, Bitcoin or indeed Peer Coin, check out the coinwarz link, there’s plenty of sport to be had, ( money to be won and lost ) if speculation is your bag. This is a race with a very wide field indeed and the sweepstakes potential is breathtaking. Ether is my Tip though and why I am writing this blog.