Bitcoin Q&A: What will happen during The Halvening 2016? – Haves & Have-nots

Bitcoin Q&A: What will happen during The Halvening 2016? – Haves & Have-nots

[AUDIENCE] What is your personal view on the halving this year, and its impact on the difficulty?[ANDREAS] Sorry, what was the question? [AUDIENCE] The Halvening. [ANDREAS] The Halvening.Yes, the great Halvening of 2016. For those of you who are not quite familiar with this,every four years, the amount of subsidy in each Bitcoin block decreases […]

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Bitcoin Q&A: Divisibility and deflationary monetary policy

Bitcoin Q&A: Divisibility and deflationary monetary policy

[AUDIENCE] You have been talking about the need for a bitcoin, which is the demand side.What are the plans to grow the supply of bitcoin until it satisfies those 80% of people who are unbanked?Because $10 billion in value is less than 1% of 1% of the need.[ANDREAS] Bitcoin’s monetary policy is very specific. It […]

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Bitcoin Q&A: Do miners control consensus? – The 5 Consensus Communities

Bitcoin Q&A: Do miners control consensus? – The 5 Consensus Communities

[AUDIENCE] Basically you are saying that we are depending on decisions of Chinese miners and pools.It is not our decision, it is the decision of the miners.[ANDREAS] No. There are five consensus communities in Bitcoin: developers, miners, exchanges, merchants,and wallets.They [work] together. If you are a miner on a chain that doesn’t have support from […]

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Ethereum Q&A: What happens if there are bugs?

Ethereum Q&A: What happens if there are bugs?

“What should be done when things go wrong with smart contracts,where funds are lost due to code error and bugs?”This is a really great question. In fact, it is the basis of a giant debate happening primarily in Ethereum.It started with the Decentralized Autonomous Organization (theDAO), which had a massive bug…leading to the loss of […]

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Bitcoin Q&A: Directed acyclic graphs (DAGs) and IOTA

Bitcoin Q&A: Directed acyclic graphs (DAGs) and IOTA

“What is your opinion on directed acyclic graphs (DAGs)? [Do they] truly have the potential to replace…open and decentralized blockchains? Or is it vaporware?”I don’t think the question is an ‘either / or.’I don’t think directed acyclic graphs, tangles, or other similar formulations, can replace proof-of-workor open decentralized blockchains. I think that’s because proof-of-work brings […]

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Bitcoin Q&A: Altcoins and specialisation

Bitcoin Q&A: Altcoins and specialisation

‘Anonymous’ asks: “What crypto-assets or technologies interest you, besides Bitcoin and Ethereum?”I’m interested in a number of different technologies.I’m particularly interested in the privacy-related technologies,because I think privacy is a very important thing.Blockchains that are pioneering and testing various forms of privacy and anonymity, etc.including things like Monero and Zcash.I am interested in some of […]

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Bitcoin Q&A: 2FA and secure hardware

Bitcoin Q&A: 2FA and secure hardware

[AUDIENCE] Hey, Andreas.Thank you so much for everything that you’ve done for the Bitcoin community and open blockchains.My question is, how secure is Google Authenticator? Can they hack [your wallet] as a middleman? Thank you.That is a great question. Google Authenticator is a one-time password, two-factor authentication system…that has a security key installed on your […]

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Ethereum Q&A: ‘Coin’ and ‘token’ terminology

Ethereum Q&A: ‘Coin’ and ‘token’ terminology

“Is a colored coin a meta-coin?”I think the term “meta-coin” has only been used by me.I coined it back in 2014, when writing the first edition of ‘Mastering Bitcoin.’I wanted to differentiate between altcoins that have their own blockchain,and coins that use metadata on top of another blockchain.Nowadays, I don’t think that term is useful. […]

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Bitcoin Q&A: Why are decentralised networks resistant? – Inefficiency is the Price of Freedom

Bitcoin Q&A: Why are decentralised networks resistant? – Inefficiency is the Price of Freedom

[AUDIENCE] Hi Andreas. I just wanted to ask you a question about your organic metaphor…of the decentralized network developing a resistance to attack, which made me think of TCP/IP technology…and how that was invented to be bomb-proof.It was like a mesh, you could blow a hole in the mesh and the information would [route] around […]

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