HomeGuidesAndreas M. AntonopoulosBitcoin: Dumb Networks, Innovation and the Festival of the Commons

Bitcoin: Dumb Networks, Innovation and the Festival of the Commons

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In this talk, Andreas speaks about permissionless innovation in Bitcoin’s network architecture, and the economics of open systems that enable a festival of the commons.

Chapters
0:00 I am so happy to be part of this O’Reilly event. I have been a huge fan of O’Reilly as a publisher
1:48 Bitcoin. Is it a technology, a network, or a currency?
4:11 Bitcoin is not a smart network. Bitcoin is a dumb network
9:06 Compare that to the current banking system, built around many very smart networks.
10:27 Bitcoin is open-source, with open standards, for an open participatory network
16:09 We will go home, declaring victory. You cannot stop it. That is why I’m excited to be in the Bitcoin space
17:35 What are my thoughts on side chains?
20:08 Do you have any thoughts on the role of regulators and compliance and how it can benefit bitcoin?
25:24 We will not only see academic research and consensus algorithms and distributed computing I see entirely new scientific disciplines arising out of bitcoin

This talk was delivered on January 27th 2015, at the O’Reilly Radar Summit “Bitcoin and the Blockchain” in San Francisco, CA: https://conferences.oreilly.com/bitcoin-blockchain-2015

Video is licensed CC-BY

CORRECTION: At 13:12, I said that multi-signature transactions were added to Bitcoin and the first multi-sig wallet deployed in 2014. This is not true. The BIPs for multi-sig were finalized in 2011 and 2012. Multi-sig was being used prior to 2014, but only a very small percentage of bitcoin was held in multi-sig addresses, and no consumer-facing multi-sig wallets were available. BitGo deployed a multi-sig wallet in August 2013.

“M-of-N Standard Transactions” (BIP-11) –https://github.com/bitcoin/bips/blob/master/bip-0011.mediawiki
“Pay to Script Hash” (BIP-16) – https://github.com/bitcoin/bips/blob/master/bip-0016.mediawiki
“OP_CHECKHASHVERIFY” (BIP-17) – https://github.com/bitcoin/bips/blob/master/bip-0017.mediawiki

RELATED:
LABitConf Fireside Chat: Becoming a Bitcoin Educator – https://youtu.be/0CLJdfMgKhI
The Courage to Innovate Without Permission – https://youtu.be/ywq6NBETUJ8
Measuring Success: Price or Principle – https://youtu.be/mPMsbgWl9p4
Why Open Blockchains Matter – https://youtu.be/uZPIz3ArQww
Decentralized Globalization – https://youtu.be/QoiR4aNbTOw
Investing in Education instead of Speculation – https://youtu.be/6uXAbJQoZlE
Security vs. Complexity – https://youtu.be/M82t5wZG3fc
Beyond Price: Bitcoin’s Impact on the Future – https://youtu.be/rvwVbRQ5Ysc

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