Collaborative Revolution
3.6K views | +0 today
Follow
Collaborative Revolution
THE COMMONS, THE SHARE, Collaborative Competition.
Your new post is loading...
Your new post is loading...
Scooped by Martin (Marty) Smith
Scoop.it!

Bitcoin Manifesto: Bitcoin Changes Global Ecom, Money & Our Value Systems


Bitcoin Ecom Game Changer
What is missing from global ecommere? I know that question can cover a lot of territory, but the hint was use of the word "global". @David Amerlandwrote a highly influential post recently:

What If We Had A New Value System For Goods  & Services
http://davidamerland.com/seo-blog/692-what-if-we-had-a-new-value-system-for-goods-and-services.html

Great read. Now put David's post into the Bitcoin context and its easy to see why "universal, trusted online currency" is a big missing piece for global online ecommerce.

I've purchased things from London, but its a pain. That pain takes two forms: currency and shipping. We can't solve shipping until we crete a currency that works around the world.

Enter one of Bitcoin's big benefits.

But Bitcoin is more than a universal currency. Bitcoin is the illusive universal infrastructure long sought by Facebook and Google. Bitcoin is a platform leveler, a new way to program that beats Auth.net all to hell.

This Bitcoin manifesto makes for fascinating reading. Put aside the idea of a floating currency currently running at $350 dollars to a single Bitcoin with the real possibility of going above $1000 soon and read the paper from the "what do we need to make ecommerce really word around the web and the world" and you see the real power of Bitcoin.


More on G+: https://plus.google.com/102639884404823294558/posts/YLFe4ow4rok


Bitcoin & Startups (on Scoop.it)
http://sco.lt/5rrn05

more...
No comment yet.
Scooped by Martin (Marty) Smith
Scoop.it!

Pirates Can't Create A Currency: Bitcoin's Flexcoin Shuts Down After Theft

Pirates Can't Create A Currency: Bitcoin's Flexcoin Shuts Down After Theft | Collaborative Revolution | Scoop.it
(Reuters) - Bitcoin bank Flexcoin said on Tuesday it was closing down after it lost bitcoins worth about $600,000 to a hacker attack.Flexcoin said in a message posted on its website that all 896 bitcoins
Martin (Marty) Smith's insight:

Turns out creating a currency is harder than it looks. As appealing as creating a currency is to pirates any currency is little more than a measure of confidence and trust.

Trust is the reason PIRATES find it difficult to create currencies. Currencies need some NAVY too or they are too subject to the kinds of fatal flaw that Bitcin has apparently been experiencing for some time as they slowly bled currency to hackers.

The true PIRATE impulse is to steal so much what you've stolen goes down in value. That is the case here. By stealing a large % of the bitcoins in circulation hackers have all but killed the concept of a pirate currency.

more...
No comment yet.