“Satoshi Nakamoto,” The Prophet.
An archetype figure: a Santa Claus or Moses or even a Jesus-type figure. “He” came, gave us a gift (and behold! it was perfect in every way!); upon the Redemption, he was Assumed and thus disappeared. No one is sure who “he” was or if “he” really existed. Whether “he” existed at all is not important to those of The Faith. “He” has no childhood friends or contemporaries who knew “him.” All we have are “his” writings, enshrined in the Wayback Machine and conspiracy theory discussion forums. Maybe “he” really was from The Future; maybe “he” really was sent by our descendants to prevent a Greater Evil, as was foretold in multi-part Hollywood hit movie, The Terminator. Maybe The Blockchain is itself “The Skynet” as was prophesied. No one knows. But, HURRY, INVEST NOW!
Scope: data share contracts, record transactions in blockchain.
a vetted, trusted media buyer could execute a campaign against segments provided by members of the Comcast consortium</quote>
Scope: sells guarantee contracts as futures; not live inventory.
TV ad buying
Interactive Advertising Bureau (IAB)
“in an exploratory phase”, attributed to Allana Gompert.
All future tense. Very aspirational. Many qualifiers.
Qualifiers: Still forming, working group, will dictate policy, will dictate API specifications.
Qualifiers: Not until 2018 [e-o-2018] is “2019,” think: ~600 days
Qualifiers: is developing, proofs of concept, beta partners.
<quote>securely share their assets without exporting or handing them over to another stakeholder </quote>
<quote>And media owners can strike a blow against unauthorized sellers and domain spoofers. </quote>
<quote>[remove out unwanted supply chain intermediaries </quote>
Use [unique] blockchain keys instead of gimmicky [URL] names
Use blockchain <snip/> to log transactions, recording the use of “data”consumer dossiers.
<paraphrase>[As] Comcast and Cox, [I have] different inventory rates for specific content or audiences, or [as a] buyer [I] wants to blacklist certain supply sources, <snip> each company’s smart contract and dictates how others on the blockchain can access its data. <paraphrase>
<paraphrase>[As an] advertiser [I] could lock up inventory over the long term and publishers could score bigger upfront deals or offer different types of discounts. And in this instance, blockchain would serve as the ledger recording all of these transactions – and their value. </paraphrase>
Does. Not. Scale.
The media business wants transparency.
The media business requires opacity.
DoubleClick Ad Exchange
Ken Brook, CEO, MetaX, a boutique
Peter Guglielmino, CTO, IBM’s Media & Entertainment Group.
Alanna Gombert, general manager of the IAB Tech Lab.
Adam Helfgott, founder, MadHive, a boutique
Will Luttrell, Curren-C, a boutique; co-founder, ex-former CTO, Integral Ad Science
Something about “hoping to develop”, something about brand safety & ad fraud
On-(block-)chain and off-chain solutions. adChain, a protocol on Ethereum. with Direct Marketing AssociationData & Marketing Association (DMA)
“like legacy data players” Acxiom and Experian; Blockchain Insights Platform; not before 2019.
Is NASDAQ’s proprietary blockchain; a futures recordation scheme, against The Upfronts. Among ex-AOL VP-levels, Bill Wise, founder and CEO, Mediaocean, is a board member
Bluemix, a services suite, cloud-blockchain frontrunner. Something about having deep pockets, being able to incur long periods of R&D costs, hoping to recoup on IBM services in other domains, e.g. healthcare and finance.
tl;dr → 4500 words. The Bitcoin culture is & was corrupt. Now it is failing. The technology “doesn’t scale” anyway. The long con is folding up. Mike Hearn exits, stage left.
<quote ref=”NYT“>currently “on salary,” Andreessen Horowitz; towards Bitcoin development</quote>
<quote ref=”NYT“>R3, is developing Bitcoin-like networks for banks to enable cheaper and faster ways to trade assets of all sorts. The start-up aims to take advantage of the less-centralized record-keeping methods of Bitcoin, but still allow for someone to be in charge, to handle the software and to manage access to the system.</quote>
Think about it. If you had never heard about Bitcoin before, would you care about a payments network that:
Couldn’t move your existing money
Had wildly unpredictable fees that were high and rising fast
Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it)
Is suffering large backlogs and flaky payments
… which is controlled by China
… and in which the companies and people building it were in open civil war?
I’m going to hazard a guess that the answer is no.
Some customers contacted Chris earlier today asking why our bitcoin payouts didn’t execute …
The issue is that it’s now officially impossible to depend upon the bitcoin network anymore to know when or if your payment will be transacted,because the congestion is so bad that even minor spikes in volume create dramatic changes in network conditions. To whom is it acceptable that one could wait either 60 minutes or 14 hours, chosen at random?
It’s ludicrous that people are actually writing posts on reddit claiming that there is no crisis. People were criticizing my post yesterday on the grounds that I somehow overstated the seriousness of the situation. Do these people actually use the bitcoin network to send money everyday?
a.k.a. The Good Guys, who support the block size increase, Bitcoin XT
<quote>entire datacenters were disconnected from the internet until the single XT node inside them was stopped. About a third of the nodes were attacked and removed from the internet in this way.</quote>
Satoshi Nakamoto created Bitcoin, then disappeared [not died, killed, or disavowed, but he disappeared; c.f. indeed, the Monomyth]
<quote>When Satoshi left, </quote>
2015-12 → Scaling Bitcoin, Hong Kong
2015-08 → Scaling Bitcoin, Montreal
2015-08 <quote><snip/> due to severe mismanagement, the “Bitcoin Core” project that maintains the program that runs the peer-to-peer network wasn’t going to release a version that raised the block size limit.</quote>
Search Query ‘site:economist.com, Mike Hearn’; Google
In support of the statement <quote>[Mike Hearn has] been repeatedly cited by the Economist as a Bitcoin expert and prominent developer</quote>
tl;dr → Mike Hearn is an expert.
Exhibit: A graph of the timeline 2014-10-01 → 2016-01-01
yellow, right → bytes, block sizes
blue, left → XBT, transaction value
Exhibition: 95% of bitcoin mining capacity is <quote>a handful of guys sitting on a single stage</quote>. in Hong Kong, at Scaling Bitcoin, 2015-12-06.
Source: Gavin Andresen, New York Times (NYT)
Is Bitcoin Breaking Up?; Paul Vigna; In The Wall Street Journal; (WSJ); 2016-01-17.
Teaser: Rift widening over how to deal with the size limits within the virtual currency’s ledger of transactions Mentions
Fred Wilson, Union Square Ventures
is quoted for color, background & verisimilitude