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Month: November 2018

Regulación de la Blockchain: el Problema Imposible

La clave es entender cómo la tecnología BC (desarrollo, adopción, etc.) está desarrollándose mucho más deprisa de lo que los reguladores y la población en general pueden abarcar.

En el momento de escribir este artículo el Bitcoin está a punto de empezar a ser aceptado como medio para el pago de impuestos en Arizona. Es anecdótico, pero relevante de lo rápido que se están moviendo las cosas.

Mucha gente (también del sector) pide regular el Bitcoin, y las criptomonedas en general. Pero es probable que el retraso con que están apareciendo las regulaciones responda a la perplejidad e ignorancia de las autoridades, más que a una estrategia deliberada (como señalan en algunos medios).… Read more...

Blockchain is the Book of Truth

Basically, a blockchain is a permanent inmutable record to exchange data, money, goods, and services. Its independently operated by Internet users and its distributed amont their computer network.

A BC is a transactional database distributed among all participants, without the need to trust each other through a central administrator. Can be accesed but not edited by all. Its the book of the truth.

BCs constrast with traditional databases: SQL, NoSQL because these are controlled by a single entity, even when having some distributed architecture.

The BC of Bitcoin makes impossible the double spending issue, maintains a permanent control of the transactions, and this makes a central bank useless.Read more...

Soft vs Hard Forks in Blockchain

• Soft forks have been used to implement new and upgraded functionalities that are backwards compatible.
• There is no requirement for all nodes to be upgrade and agree on the new version.
• Regardless the updated users and the non-updated users could still interact with each other.

All the nodes need to agree and once done ALL previous blocks are invalid.

• Old rules vs New rules
• A forceful method to update the core software & its foundational protocol of the Blockchain to invalidate (or vice-versa) the few previously mined Blocks in the Blockchain.
• This is generally done to recover the Blockchain from drastic damage or attack.… Read more...

The Whitepaper BS

No successful VC pitch starts with a 50 page white paper. It’s about explain the problem you solve, your added value, what it will cost, and how will you make money.

Most of the developing world lives out of $2 a day. They are not going to switch to cryptos to lose suddenly $1 because some hacker, ‘authority’ or whale cracks into some marketplace.

Large institutions are not going to risk trillions of dollars in some immutable but trackable database. Rely on some Russian teenager to unfreeze funds is not a viable option for fund managers. If you solve one problem by creating bigger ones you haven’t solved anything.… Read more...

Becoming an ICO Advisor

The Idea: Tech team comes up with a new idea, technology, etc. around BC technology. In order to use the new tecnology, tokens are required and they are issued at the ICO. The tokens represent the cost of transacting (use to be called fuel) in the new platform.

The Announcement. Team anounces an ICO, representing the problem, how to solve it, etc. Uses a whitepaper. Instead of heavy technical details, whitepapers tend to be executive summaries, heavy on marketing jargon and promises. Channels are specialized online channels and forums.

The Capital Target. Team anounces how much capital is needed to execute the idea.… Read more...