BITCOIN IS TECHNOLOGY -- Presented at World Bitcoin Conference 2014 in KL --

BITCOIN SUCKS

2,460,000 RESULTS https://www.google.com/search?q=bitcoin+sucks

BITCOIN ROCKS 52,400,000 RESULTS

https://www.google.com/search?q=bitcoin+rocks

26 times as good as its not

MARK SMALLEY m_smalley

•  Living in Asia for 17 Years / Wife and Children Malaysian

•  OpenSource Technology Evangelist / Family in Finance

•  PHP / JS Developer & Designer – MongoDB Products

•  Read Satoshi’s White Paper 13 Months Ago

•  Launched a HTML5 Bitcoin Wallet 2 Months Ago

•  Received 1st Round of Funding (RM 350K) 2 Days Ago

THE ULTIMATE QUESTION What is Bitcoin…? Start by debunking the myths

5 PILLARS OF BITCOIN

Ask 5 People get 6 Answers (Hard to be One for Everyone)

CURRENCY

Send Units of Value, Fungible, Divisible

COMMODITY

Scarcity Stores Wealth, Market Fluctuates with Speculation

BRAND

Marketing Message, Community & Sharing Knowledge

PROTOCOL

Decentralized Trust on the BlockChain

TECHNOLOGY

Services & Solutions Implemented & Integrated

MANY THINGS TO MANY PEOPLE

•  Bitcoin is technology - the start of decentralized ideas

•  It uses a public ledger to enforce transparency

•  It uses peer-to-peer networks to transfer value from one person to the other in seconds – anywhere on the planet

•  Every transaction is recorded by every user in network

•  Not only is it the first time we have had open-source money, but it’s also the 1st programmable money *

WHY BOTHER WITH BITCOIN …? USA + China

SOLVING PROBLEMS

Speed, Cost Efficiency & Global Reach (Money for Internet)

THE BITCOIN TECHNOLOGY STACK

•  Uses LevelDB to access (via JSON) a globally distributed public ledger of all transactions

•  Other underlying technology is not new

•  Send and receive payments instantly and directly via JSON-RPC calls from any server-side language …

•  Existing wrappers, frameworks, documentation, libraries and support for PHP, Ruby, NodeJS

•  Still in Beta (0.9) with Market Cap of US$10 Billion

BITCOIN IS AN OPENSOURCE API FOR PAYMENTS

•  There is no sign-up process or application fees, developers can add payments to sites in minutes

•  Always on & available to anyone anywhere with internet

•  No limitations (US$150 Million Vs US$ 0.1)

•  No censorship (Wikileaks)

•  Can be used for many other things (not just payments)

•  I already use it for authentication and messaging

EXAMPLE PHP CODE

$rpc = new rpc_class(); $fbi_address = ‘1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX’; $transaction_id = $rpc->query(array(

'function‘ => 'send', 'options' => array( 'to' => $fbi_address, 'amount' => 0.00000001 )

)); if($transaction_id) echo ‘Payment ‘.$transaction_id.’ Received’; else echo ‘Payment Failed’;

WHAT MAKES IT PROGRAMMABLE MONEY …?

•  It is essentially an open API available to anyone

•  Where transaction fees and identification are optional

•  All the underlying technologies are OpenSource

•  No central authority to prevent innovation

•  Easily accessible, always-on and always neutral

•  It can be easily embedded into hardware, such as …

THE BITCOIN AND RASPBERRY PI POWERED POOL TABLE http://www.coindesk.com/bitcoin-pool-table-raspberry-pi/

RASPBERRY PI POWERED PAPER WALLET PRINTER http://piper.pw/

BITCOIN ATM

MALAYSIA’S FIRST BITCOIN AVM IN BSC

BUT IF IT LOOKS & SOUNDS LIKE MONEY

( over 200 altcoins available, 10,000+ Predicted within 3 Years )

SPECIAL MENTION TO AURORACOIN – MAY GO NATIONAL

NOT TO MENTION THE MOMENTARILY TRILLION DOLLAR DOGE

DECENTRALIZED DNS WITH NAMECOIN

OR MINING FOR PROGRESS WITH PRIMECOIN

YET THESE ARE ALL JUST FORKS

WHAT HAPPENS WHEN YOU START AGAIN FROM SCRATCH…?

ONE WAY TO GO IS GETTING FUNDED BY GOOGLE

THEN THERE’S THE RIGHT WAY

BY INVOLVING THE COMMUNITY

ETHEREUM IS THE EPITOME OF BITCOIN 2.0

SOME ARGUE WE ALREADY HAVE PROGRAMMABLE MONEY

•  Square, Stripe, V.me, Simple, etc …

•  Only available to developers in States / Europe

•  Local alternatives are complicated, costly & useless

•  No options for instant starts …

•  No options for anonymity or the billions of us unbanked

•  And this makes me angrier than I am with most things

A DEVELOPER WITHOUT CHOICE IS AN UNHAPPY DEVELOPER

PERSPECTIVE IS EVERYTHING, DEVELOPERS EXPECT CHOICE

•  For the world’s unbanked, there is no other choice

•  For small businesses, freelancers and start-ups in developing nations, there is no other choice

•  When you have choice, it’s hard to imagine those without •  New generation growing-up with instant expectations,

who are or will be disillusioned by trillion dollar bailouts

•  From stones to precious metals, then paper & now bytes

WELCOME TO THE ISLANDS OF YAP

THERE BE GOLD IN THOSE HILLS

RISE OF THE MACHINES

MINING FOR PRECIOUS NUMBERS

DAY OF THE DAC (DISTRIBUTED AUTONOMOUS CORPORATION)

WHAT DOES THE FUTURE HOLD …?

•  The future of Bitcoin (the brand) is uncertain

•  A future with digital currencies and decentralized stores of value is guaranteed – people trust math over people

•  National adoption of decentralized currencies would bring political transparency and economic neutrality

•  Developing nations seeking to curb corruption and break-free from a US$ Based economy should be embracing and (or) issuing these technologies

WITH BACKING COME INNOVATION

Sarawakian Pepper Farmers & Government Issued Digital Currencies

BITVEGAS (CASINO IN MINECRAFT)

TRSST (DECENTRALIZED BLOGGING / MARKETING)

BIT-MESSAGE (DECENTRALIZED COMMUNICATION)

But that’s way too technical ( which is why there are so many opportunities for techies )

PROJECT KEYHOTEE – NOW LAUNCHED http://invictus-innovations.com/keyhotee/

MARK SMALLEY http://neuroware.io