Tag: cryptocoins

Are NFTs the missing crypto killer-app?

The dot com vision was e-commerce, but the killer apps came in the form of social and search. In crypto, its still to be seen where the killer apps are.

I don´t think this killer apps will be about cryptocurrencies. Why? Because you need a real crypto economy generating value for many people.

A crypto economy is not people buying and selling Bicoins, but people earning Bitcoins in exchange for their work, products, and services.… Read more...

Crypto money: A Matter of Boundaries

Governments can define and control the boundary conditions of fiat money through banks and marketplaces. This way they control the transactions between fiat and crypto with KYC, AML, etc. regulations.

The real issue in crypto is not about how to move money around, but about how to move fiat money into the Blockchain, in order to create a real economy in there.… Read more...

Economical Incentives and Mechanism Design

Designing economic incentives to create networks is complicated. In fact, there is a whole sub-discipline of economics dedicated to studying how to design protocols that encourage rational actors to behave in socially desirable ways: it is called ‘mechanism design’.

And although the new discipline of ‘cryptoeconomics’ is developing a lot in recent years, there is little evidence that most of the new crypto projects or blockchains are incorporating formal methods of design mechanism, with some exceptions.… Read more...

Tokenización de Objetos Reales y la 4ª Revolución Industrial

Prácticamente todo el debate crypto se centra en las criptomonedas y los NFTs, pero es en la confluencia de la tecnología Blockchain y la trazabilidad en el mundo físico donde está la acción importante.

Es el internet de las cosas (IoT) aplicado a las cosas del mundo real. Es decir, la tokenización de objetos reales para su registro y gestión en cadenas de bloques.… Read more...

What is a hash function?

Hash functions are an ingenious tool that are a fundamental part of public key cryptography. And by extension of the Blockchain technology. They are also called “one-way functions“.

In computer science, a one-way function is a function that is easy to compute on every input, but hard to invert given the image of a random input.… Read more...

Criptomonedas, un problema de falta de adopción

El de las criptomonedas es un problema en el que confluyen economía, política, tecnología y emociones encontradas. Y los análisis se basan en “partidarios” y “detractores”, cuando lo que debería haber es un análisis puramente técnico del asunto, no un debate ideológico.

Las criptomonedas (en concreto Bitcoin) estaban llamadas a generar una nueva economía con más libertad y oportunidades para todos.… Read more...

Notes on Ripple

Ripple is a real time gross settlement system (RTGS), currency exchange and remittance network. Used by companies such as Santander, Unicredit and UBS. More than 17 banks are using it. Make ...

Public Key Systems in Cryptography

Cryptography today is based on veteran public key systems:

– Diffie-Hellman (1976).
– RSA (1977)
– Elliptical Curves (1985).

Elliptic curve cryptography is the most advanced cryptographic system available. Elliptic curves are rapidly replacing RSA as the gold standard for public key cryptography.… Read more...

Notes on Bitcoin

People could not use an operating system until Windows appeared. With icons and a mouse you no longer needed to post or learn lines of code. Same is happening with crypto. Bitcoin needs an ‘abstraction layer’ for people to understand it and go mainstream.

Alice wants to pay Bob for his services and both have their own wallet.… Read more...

The Blockchain Domains

– Mining and Forge. PoW vs PoS. Creating a mine.
– Create new cryptos with interesting properties for something specific.
– Securization: make safe the transactions of those who already have coins.
– eCommerce. Facilitate online sales and payment with cryptos.
– P2P Commerce.…

How To Make A Mint: The Cryptography of Anonymous Electronic Cash

NSA paper on electronic cash, 1996: “How To Make A Mint: The Cryptography of Anonymous Electronic Cash”. Electronic payment systems come in many forms including digital checks, debit cards, credit cards, and stored value cards. The usual security features for such systems are privacy (protection from eavesdropping), authenticity (provides user identification and message integrity), and nonrepudiation (prevention of later denying having performed a transaction).… Read more...

Idea: Spread vs OTC Marketplaces

Purchase from exchanges like Bitstamp and Lake BTC and sold over-the-counter OTC to regional customers and vice versa. You may get 8-15% gap per day.

Made large btc purchases from letigitmate exchanges in Europe and China and resold them to customers locally. He called this business “Crypto Coin Capital Management”.… Read more...

Blockchain for Payments (analysis)

BC payments are different because they rely on no middle men. BTC payments are possible without banks and ANY other institution with complete transparency acroos the globe without worrying about exchange rates.

What are the various opportunities to use the technology
BC for payments can be developed in many forms, but they need to consider:
– Legal aspects: the currency can be a cryptocurrency or a legal tender euros or dollars.… Read more...

New World, Old Rules

The ‘Crypto World’ as it is now is a new world with OLD rules (KYC policies, centralized marketplaces, etc.). All major players have just forgotten what was this all about (a tool to gain freedom), and the result is this: ‘assets’ instead of money, and rampant speculation.

As it has been recently refered at Cointelepgraph:

ICOs themselves are hardly centralized.

Central banks are in the business of debasing your currency. Central governments are in the business of debasing your freedom and personal sovereignty. The central technology conglomerates are in the business of debasing your own personal data. - Steve Bannon

The Debasement

Steve Bannon, the former aide to President Donald Trump and a firebrand of right-wing populist movements, is now touting the liberating potential of cryptocurrency and blockchain technology. ...

Crypto Regulation: a False Problem

(Regulate the cars as if they were horse cars).

The problem isn’t whether there should be regulation or not: no one is stupid enough to participate in a network where there are no rules or regulations of any kind. And that’s certainly not the case with Bitcoin.

Bitcoin rules are not imposed from a desk.…

...what is often neglected is the possibility of authoritarian regimes flipping the switch by using blockchain technology to create systems and applications that limit individual liberties for their citizenry.

The Uncomfortable Truth About Blockchain Tech

OLD UT RELEVANT STUFF ---> Blockchain technology has spawned a new decentralized economy, effectively taking power away from centralized authorities and handing it back to the people. Many block...

Proof of Trust (Crypto Freelancing)

Blockchainear un sistema de reputación personal / corporativa que las BC puedan usar para su funcionamiento. Sistema de reputación entre autónomos q permita controlar quién paga y quién no paga.

No se debería hacer mediante valoraciones manuales de la gente sino mediante Smart Contracts que validen si pagas o no pagas.… Read more...

La Ventaja de Capital de la Minería de BTC

Mientras la capacidad de adquirir criptomoneda no esté liberada de la capitalización (comprar, minar), las criptomonedas adolecen del mismo problema que el sistema anterior. Sirven para hacer a los ricos mas ricos de forma desproporcionada, y otorgarles control sobre la propia moneda. La única salida es crear moneda como contrapartida a valor añadido.… Read more...

Hashing real stuff

Hashing real pictures (not QR codes) is a very tricky and interesting problem; similar to the one Google uses for ‘similar images’ search. This algorithm its called “Locality-sensitive hashing”.


Perceptual hashing is the use of an algorithm that produces a snippet or fingerprint of various forms of multimedia.[1][2]… Read more...

Criptomonedas y Respaldo en Oro

La mayoría de las ‘gold-backed’ cryptos son un fake. Todas aquellas que no están asociadas a una cantidad fija de oro, 100% redimibles (entregándote tu porción de oro) no deberían ser consideradas como respaldadas por oro.

De lo contrario uno podría decir que cualquier divisa como el dólar o el euro está también respaldada por oro (allí donde el país emisor tenga reservas), lo cual es obviamente falso.… Read more...

The Need for Random Numbers in Cryptography

Secure systems need random numbers (RN).

RN generated arithmetically are pseudo-random, and not safe, e.g. middle squared of V. Neumann which is unsecure because its predictable (every number depends on the previous seed).

In Cryptography, pseudo-random number generators are designed to be unpredictable no matter the sample, which is critical.… Read more...

El Dinero y la Última Batalla por la Privacidad

Hace años que algunos dábamos por hecho que habría regulación para todo el mundo de las criptomonedas. De una forma u otra los gobiernos y sus verdaderos amos (los organismos internacionales) tratarían de adelantarse a los acontecimientos creando ellos mismos sus propias monedas electrónicas.

Poca gente es realmente consciente de lo que implica dinero electrónico controlado de forma centralizada por los gobiernos.… Read more...

Porqué Bitcoin no es un esquema Ponzi

Vamos a revisar algunos de los motivos que se suelen citar relacionando Bitcoin con esquemas Ponzi:

Los pioneros reciben más rendimiento. 

Es cierto, pero el hecho de que los pioneros reciban mayores recompensas en una inversión no la convierte en un sistema Ponzi. Casi todas las buenas inversiones siguen ese patrón.… Read more...