- Twitter Open Sources Their Emoji Library — Emoji are the sparklines of sentiment.
- Interactive 360-degree Films. From Google (Medium) — you move the camera through a movie shot in 360 degrees, and can choose what you’re looking at through the scene. I can’t wait to try this, it sounds brilliant.
- Bitcoin Crackdown — everyone who started exchanges and mutual funds thinking Bitcoin wouldn’t be regulated like a currency is getting an SEC headache.
- Connected Choices: How the Internet is Challenging Sovereign Decisions (PDF) — Ultimately, the Internet remains both a global commons and part of each nation’s sovereign infrastructure, and thus activities in cyberspace must continue to navigate two sets of demands: national interests and global interests. […] Political leaders are responsible for articulating a vision and establishing general principles and policies to achieve their goals and, accordingly, are constantly trying to advance their agendas using policy, law, market mechanisms, regulation, standards, and other initiatives. The evidence is clear; you just have to look for it.
Tim Swanson on the blockchain's potential and what the future of crypto-coins might bring.
Researcher and author Tim Swanson originally built bitcoin mining equipment in China a couple of years ago, but as he explained in a recent interview, he’s moved beyond the trading aspects of bitcoin and now focuses on research and use cases. Swanson, who also works in business development at Melotic, a digital asset exchange, expressed some skepticism about the future of bitcoin as a currency and noted that the greatest potential in the technology lies in the blockchain:
“I’m fairly skeptical that what [bitcoin] can and will do is probably either overstated or overhyped. I think most of the actual use cases, especially with blockchains in general, will be very mundane and will be related to proof of existence, so things like notary services.
“If anyone’s looking for a particular use case, I’d probably talk about one called CAT, Consolidated Audit Trail. It’s related to the SEC requiring traders to put together a way to find out when trades take place. On any given day, there’s about 48 billion trades that take place under their purview, and putting together a system for this, they want to make it centralized. Maybe you can use blockchains in some kind of decentralized fashion for this, but the idea — it’s not a very sexy, headline-getting use case — but it’s something that’s particularly needed to ensure their transparency within the trading aspect of these different financial instruments globally.”
Swanson will host a free webcast — The Continued Existence of Bitcoin, Altcoins, Appcoins, and Commodity Coins — on Tuesday, December 2, to talk about the various coins being created and the legal and technical challenges facing the developer community. Read more…
When the mining subsidies end, will the bitcoin network centralize into a bank?
Radar has a backchannel, and sometimes we have interesting conversations on it. Mike Loukides and I recently had a long chat about bitcoin. Both of us were thinking out loud and learning as we went along, and on re-reading the thread I’m astonished by our advanced level of ignorance. I would like to publish it because it hints at just how hard it is to understand the bitcoin network. The founding papers that describe the system leave a lot of implementation to the imagination, and the level of mis(dis?)information around the web is staggering. It’s no small thing to get the basics right. But beyond the basics, the bitcoin network has that property of an inside-out onion, where the harder you look, the more (and bigger slices of) complexity you find.
Anyway, we’re not going to publish it. I don’t mind looking stupid, but I don’t want to look that stupid — also, the comments would be torture.
However, some of the things we were wondering about are worth wondering about publicly. Especially this: what happens when the mining subsidies end? Will transaction fees pick up the slack? I think ultimately the answer is yes, but maybe not in the way a lot of people expect. Read more…
The MtGox bitcoin exchange failure illustrates exactly how capitalism should work.
This post originally appeared on Andreas Antonopoulos’ personal biographical site; it is republished here with permission.
In the free market, failure is always an option. The United States has one of the world’s most vibrant entrepreneurial cultures, where millions of people start small businesses, create new products and invent new technology. Part of the startup culture is the idea of failing fast, failing cheap and failing toward success by learning the lessons taught by failure. Cultures that punish even minor failure in business with shame, exclusion and stigma are far less likely to foster entrepreneurs because they prevent experimentation by making it too risky.
Recently, the US has been infected by the “failure is not an option” mantra, a toxic hubristic fallacy, disguised as a truism, which promotes the idea that risk can be removed from life; that 100% security and 100% control are possible, even desirable. Those who attempt to remove the possibility of failure, to de-risk financial systems, end up creating the probability of spectacular failure. By removing the option to fail cheap and fail fast, they instead concentrate risk and ensure we will fail hard, fail expensively, and fail across the board.