2016

90% of the World’s data was created in the past year.

We are living in a time of exponential technological advancement. Recursive machine learning & artificial intelligence, distributed systems and decentralized value transfer protocols, everything on the web creating real-time distributed consciousness. Exciting times.

This past year I learned:

  • how to program and build on the force platform
  • solve enterprise problems using SaaS
  • last but definitely not least, more about anything and everything crypto-currency.

This is going into the fourth year I have written on this blog and the stats have increased year after year. I just about hit 32,000 all time.

Stats

Hit 14,568 for this year. Not bad.

stats2

2013: A Year in Review

2014

2015

Some of the highlights from 2015:

  • Building some of my first Mobile Apps & Demos
  • Moving into my own apartment in SF
  • Presenting in 3 Sessions at Dreamforce
  • Winning the Coindesk Makeathon (& visiting NY for the first time)
  • Going to Texas for my first business trip

Focus in 2016:

  • Get 60K views on the blog
  • Build my own 21 endpoints to my bitcoin mining tutorials.
  • Build a solar powered bitcoin node and solar powered bitcoin miner bundle. (100 W Panel, inverter, controller)
  • Learn React.js Framework
  • Learn Python (Finish Learn Python the Hard Way) and write my own scripts on the 21.co computer
  • Learn Aura (Lightning Framework)
  • Continue to Learn Chinese (Mandarin)
  • Finish the Portuguese Duolingo & move to next one
  • Continue to learn Salesforce APEX Development
  • Use a Myo band during a demo
  • Build out end-to-end Lightning Experience
  • Get it – 185
  • Read The Intelligent Investor
  • Keep a Journal and write in it daily
  • Trade crypto-currencies daily using ShapeShift, Liquid
  • Drink more water

Funny I just looked at the journal and had already written down 2016 goals; they were pretty much the exact same.

I took a career development class in Barcelona a few years back and we had to do a mental exercise. It led me to the sentence:

I felt like a Boss because I was in my Prime

That is definitely where I need to get to. It’s just finding a balance between the craft, the activity knowledge, the learn knowledge; the energy, the effort, the execution. Autosuggestion kicked in, fully engaged, rested, on point, and dialed in.

I kept my blog on wordpress.com instead of wordpress.org. May be making the switch soon, once I have it in different languages I could hit my number.

On my Birthday in June I wrote down a few things:

  • Get Healthy Looking / Toned / Cut-up
  • Capitalize on Bitcoin
  • Read Autobiography of  Yogi
  • Build a Solar Mining Rig
  • Learn AngularJS
  • Continue Chinese Studies
  • Build a Hadoop Cluster onRpi
  • Work smart, delegate, innovate
  • LIVE THE DREAM

Stocks

I have bought some of my first Stocks using Robinhood. I also am currently reading the intelligent investor.

Crypto-Trading

I have bought into Ether and the Ethereum platform. I am looking into other alt-coins but primarily will be investing in Bitcoin.

Taking It to the Next Level

I have a couple Raspberry Pis, a 21 Bitcoin computer, USB & ASIC Miners, Solar Panels, just ordered a BitSeed with 1 TB of storage (5+ years of future txns), I have a Tessel 2  on the way; I want to build the total Blockchain / Bitcoin system setup:

  • 100 W Solar Panel running +1 TerraHash
  • Running a Full-Node on the Bitseed + 1TB
  • Run a Full-Node on the 21 Computer
  • Run Ethereum Frontier on a Raspberry Pi
  • Run Kali Linux on the Other Pi
  • Connect the Tessel to the 21 Inc computer

Taking it to the next level is going back to my Combinatorial Creativity Through Technology. Combining all of these different technologies, JS, distributed consensus protocols.

Then expand this to Solar Farm with underground mining facility…one day. Keep programming in Python on 21 Bitcoin computer. Just writing Scripts, learning the syntax, building the memory.

Lastly My post from 2015

Lightning Network: Packets to Circuits

21.co: The Bitcoin Computer

Managing Digital Scarcity: Enterprise Cryptocurrency Applications

2015 Internet Trends

AngularJS

$GBTC

MYO Armband

Hash and Ledger

How to Setup an AntminerS5

Salesforce Lightning

 

Happy New Year. Live the Dream.

Dom

Zero to One

Today I finished the book Zero to One and I wanted to go over exactly what parts I highlighted and took note of, and what passages I wrote “THIS.” in the margin of. Overall I think the book is following the theme of the importance of asking the right questions. The author, Peter Thiel of the Paypal mafia, explains what questions and answers are necessary to successfully re-create the world we live in in order to preserve it for the future.

1 to n vs. 0 to 1

1 to n is not a singular moment. It is taking something we already know and spreading it else where. It is globalization. It is nothing new, it is just more of something familiar. Horizontal. Synthetic imagination.

0 to 1 is technology. The singular act of some new thing. It is found in by founders in unexpected places. Vertical. Creative imagination. Any new and better way of doing things.

“No one can predict the future exactly, but we know two things: “it’s going to be different, and it must be rooted in today’s world.”

“Spreading old ways to create wealth around the world will result in devastation, not riches. In a world of scarce resource, globalization without new technology is unsustainable.”

THIS. 

“The Old Economy couldn’t handle the challenges of globalization. Something needed to work- and work in a big way- if the future was going to be better at all. By indirect proof, the New Economy of the internet was the only way forward.”

“when you pay people to be your customers, exponential growth means an exponentially growing cost structure”

“The perfect target market for a startup is a small group of particular people concentrated together and served by few or no competitors.”

“Victory awaits him who has everything in order- luck, people call it”.

“Long-term planning is often undervalued by out indefinite short-term world”

“A business with a good definite plan will always be underrated in a world where people see the future as random.”

“The best investment in a successful fund equals or outperforms the entire rest of the fund combined.”

“If insights that look so elementary in retrospect can support important and valuable businesses, there must remain many great companies still to start.”

“Sales- an orchestrated campaign to change surface appearances without changing the underlying reality.”

“Effective distribution = CLV (Customer Liftetime Value) > CAC (Customer Acquistion Cost). It is the hidden bottleneck if you have something new but you havent invented an effective way to sell it.”

“If every new user leads to more than one additional user, you can achieve a chain reaction of exponential growth.”

“If you can get just one distribution channel to work, you have a great business.”

“An entrepreneur can’t benefit from macro-scale insight unless his own plans begin at the micro-scale. No sector will ever be so important that merely participating in it will be enough to build a great company”

The Power Law

This is hiding in plain sight. It’s understanding makes all the difference in business and life. The last two books I have read have talked about this. Both say that it is actually the world we live in verus the bell curve which is the perception.

imagThe degree of difference are profound.

“Venture-backed companies create 11% of all private sector jobs. They generate annual revenues equivalent to an astounding 21% of GDP. The dozen largest tech companies were all venture-backed. Together those 12 companies are worth more than $2 trillion, more than all other tech companies combined”.

“People who understand the power law will hesitate more than others when it comes to founding a new venture: they know how tremendously successful they could become by joining the very best company while it’s growing fast. The power law means that differences between companies will dwarf the differences in roles inside companies.”


Monopoly is the condition of every successful business. Competition is an ideology and leanness is a methodology. Iteration without a bold plan won’t take you from 0 to 1. Make a 10x improvement to an existing small market and dominate it. Expand into adjacent markets and make it part of the founding narrative. Be the last mover. The last great development and scale up from there. Whoever is the first to dominate the most important segment of a market with viral potential, will  be the last mover in the whole market. 

The Questions

What important truth do very few people agree with you on?

What valuable company is nobody building?

How can computers help humans solve hard problems?

Can you create breakthrough technology instead of incremental improvements? Is now the right time to start your particular business?

Are you starting with a big share of a small market?

Do you have the right team?

Do you have a way to not just create but deliver your product?

Will your market position be defensible 10 and 20 years into the future?

Have you identified a unique opportunity that others don’t see?

Recurring Themes

The Power Laws

IBM WATSON

AI(computers) Substitution vs. Complementary for humans

The right questions

How to setup a Bitcoin Miner with a Raspberry Pi

This is a tutorial on how to setup a Bitcoin miner with a Raspberry Pi computer.  It requires a combination on the following hardware and software:

Raspberry Pi + Raspian Software on SD Card + WiFi connection + cgminer + USB powered hub + USB ASIC Miners

Hardware

First things first you are going to need to buy the essentials to make a Raspberry Pi computer. This is a ARM computer board that operates on Linux. The following is hardware you can buy off Amazon and will need to make a Raspberry Pi Bitcoin Miner:

Setting up your Raspberry Pi is not too difficult.

First you need to download Raspbian Operating System to your SD Card. You need an SD card with at least 8 GB. For windows this can be done using win32diskimager, a program that can be downloaded to write images to SD cards.

You will need to visit the RaspbianImages site and extract the image. Insert the SD card into your PC and write the image to the SD card.

You can buy the SD card with the software pre installed on it from above, either way will work fine.

Next plug in your keyboard and mouse, your Raspbian SD Card into the Pi, your HDMI cord from the Raspberry Pi to your TV, and lastly plug in the micro USB power cord.

You will see your Raspberry Pi boot up and it will ask your for the login, the password, and the command to start up the OS.

Login: Pi

Password: Raspberry

Then in the command line: startx

You should see the Raspberry Pi Desktop. You now have a functioning Raspberry Pi computer.

Next plug in your USB powered hub into the wall and into the USB port of the Raspberry Pi.

You will then need to set up your Edimax EW-7811Un WiFi if you want your miner to run without an ethernet cord. Instructions on how to configure the dongle can be found here.

Plug in the wifi dongle into the other USB port on the Raspberry Pi. You should see a blue light blinking meaning it is connected to the WiFi.

You can also use an Ethernet cord and connect it to the Pi.

After your WiFi/Internet is set up you are ready to set up your miner.

Software

Now you have to: Download cgminer and join a mining pool.

CGminer runs a command line mining software. Instructions on how to install and configure cgminer on raspberry pi can be found here.

Next you will need to join a Mining pool.

A mining pool is group of bitcoin miners that are all combining their computing power to solve the math problems and discover a block. When a block is discovered by your pool you are rewarded for your contribution. People join pools because it is more lucrative than mining on your own unless you have a TON of computing power.

I recommend joining Slush’s pool. You just have to setup an account by email.

After you have downloaded cgminer and configured it to your mining pool plug in your ASIC Miner Block Erupters into your powered USB hub.

You should see the idle green led lights on. Start the cgminer program and the idle green lights will go off which means they are now mining bitcoins.

If you have any questions, contact me by email dominicsteil@hotmail.com . I probably will able to troubleshoot what you’re having difficulty with.

Combinatorial Creativity through Technology

The ability to define purpose in one’s life influences their decision to direct time, effort, and resources in acquiring the knowledge and specialized set of skills needed for one’s success in that purpose. A teche, a fluency, an ability to be so great at something; a craft, that it is intrinsic to you and indistinguishable from magic to others. The first step is identify one’s passion, intrinsic advantages, and definite goal. The passion will lead to persistence, which is the main determinant of success in the goal. It is a cognitive effort to set in motion an act of beneficial habits, to autosuggest and program a mindset. A combination of learn knowledge and activity knowledge habit that lead to the acquisition of scarce physical and intellectual assets. Finding these synergies create separation in a particular pursuit or venture. The bounty from this separation is now magnified by the scale and cost effectiveness of digital production channels leveraging the internet. In understanding that which will have the most profound positive and negative impacts on one’s pursuit, one can establish philosophies that augment one’s ability in the attainment of purpose; and substitute those for that which will not.

The right combination of people, capital, and technology in unison with definite purpose creates disruption, revolution and lasting impacts that shape the world. Every socio-economic, environmental, relational, and enterprise problem is a reflection of sentiment and belief. An acknowledgment of truth and a recognition of the necessity for action or non-action. An acceptance of, or an indifference towards a particular problem or game. Only when we question, and ask the right questions that are a catalyst for change in a particular way of doing things, can we change a particular circumstance in our favor. We need to exercise connective inquiry in every aspect of our life.

The future has already arrived, it is just not evenly distributed yet. It can be pivoted, adjusted to the one who questions it, adapted to the vision of the new founder. The ability to consciously simulate the future is what separates us humans from any other animal. Time is our higher level of consciousness. Time is the opportunity to change, pivot, or respond with an application of a combinatorial creativity that rightly directs the force currents in our world. Through a simple, scalable, nimble model driven by feedback loops, energy, effort, and execution. Once in motion, the revolution can outlast the mind it was once born in. It can pivot and evolve into a new idea by new founders.

You control the situation, the situation doesn’t control you. Even if you don’t know what you are doing, you still know what to do. There is a cycle to every opportunity, a time to question, a time to learn, a time to act. Ultimately you want to align your philosophies, your attitude, and your actions; and by doing so you put yourself, your organization and your life in a position to succeed.

I am devoting my full energy, effort, and execution to acquire a high-level set of technological skills in computer programming, build decentralized solutions in Bitcoin and Solar Energy, and work towards solving international enterprise and social problems.

Digital Drive

This is all just pulp tech talk.

Next post is on Large Scale Solar Bitcoin Mining and Cooling Systems

Does technology create disruption or revolution?

Creative destruction is brought about through the aggregation of specialized knowledge in unison. A creative combination of:

  • People
  • Money
  • Technology

Sharing similar interest and vision in:

  • Social Entrepreneurship- problem tackler
  • Known markets- product and pivot
  • Business harvester- capital, consultancy

How to become a founder in something, be the expert on it.
Be the best. Gain as much specialized knowledge about that.
Use digital channels to scale the bounty, leverage the internet. leverage screen space.

The power is now in the software. In its ability to deliver content in agreement with a multitude of operating systems and browsers.

The algorithm.

Software at the core of any company, protocol, or process is intrinsically powerful – and has the ability to augment or substitute traditional practice.

Software facilitates simple, elegant, frictionless decentralized innovation that can spread at zero cost.

The open source sourceforge, GitHub, provide open source software sharing.
Firebase collaboration. Open.

“The entry on a ledger of a bitcoin is a fundamental unit whose value can be moved electronically through the security protocol.”

A digital signature that is time stamped, shared, and verified by a network of computers.

A “Coin” is the first namespace that utilizes this mechanism.

A monetary unit under this technology, a digital coin, is as primitive as a lightbulb to the electric grid.

There are far more advanced and diverse systems that are coupled with the electric grid.

This statement is analogous to that of there will be far more applications built on top of the blockchain and side chain protocols, and in addition to advancements of the protocol at its core in itself.

Many other applications of asset transfer and proof of ownership can and will be implemented with the digital signature, time stamped, public ledger(s).

Real time auction in digital space for analog space.

Use this as the “forum” and network of tasks.

APIs with Venmo.

Application programming interface.

Get more currency when make trades or use. “credits” for joining.

collegemarket.com

cryptocurrency mining code inside applications that occur when the device is using the client.

VR MOOCS will be awesome. presence
VR teleportation

start counting with letters and spelling with numbers.

Learn to code. Codecademy and that China one

Going back to codecademy and completing the section on python.

digital ownership. solar bitcoin mining farms. solarminer.com

not so much one together…
A coupled cooling system that works on the panels and the miners.
The miners need Internet connection, a power supply, and a cooling system. reread internet.orgs piece on facebook server centers.

Residual returns on transaction fee that are verified by your miner.

Ie business has own miner to process all of its global bitcoin transactions.

Instead of paying a fee for using someone else’s miner.

people are working on the core of the bitcoin protocol on github on bitcore.com

consultants. in bitcoin.

More implementation Facilitators of blockchain tech , distributed systems.

third party javascript implementations for digital owenership applications.

not just currency. share economies. private keys for access to hospitality (airbnb)  transportation (uber).

Wifi connection keys

Ts1 connected until ts2

micropayments will displace ad rev. most likely. pay wall is good for the publisher and the customer. seamless micropayment. painless too.

new monetization models for the internet by using a electronic payment system, distributed ledgers.

VR presence + MOOCS + software engineering

Raspberry Pi +

enabling tech for smart cities. wireless. Bluetooth. Ble4 vs RFID

real time auction in digital for analog assets. parking spots, seats, bikes, taxi service.

micropayments for metro transportation systems. simple.

use prices set a marketplace. seamless payment verification.

AMAZON servers. Google servers. APACHE casandra. datastax

antispam microcharge with email.

Bitcoin is programmable currency in that you can setup a computer program that sets a monetary system in motion. an exchange system that is not limited by geography. remittances.

transmit money, any digital asset over a network effect distributed system. miners.

the barrier to entry in bitcoin, this ecosystem is coding.

its a public ledger you can develop, fundamentally build  a number of processes that reinvent ownership. It will reshape and replace.

the timestamp is key. it prevents double-spending problem without the need for a third party.

separation of identity from transaction, yet transaction is public to everyone.

if you can show that you have ties to capital and can facilitate an exit it will draw entrepreneurs to you. hunted. international capital. That is intrinsically valuable.

high energy demands of a bitcoin network will be met by solar energy. the cooling system that keeps that panels cool will keep the miners cool.

security will be achieved by pivots in the core protocol or by alts that supplant.

right now mining is just the support of the block chain and in turn one is rewarded by generating scarce assets from the capital investment that supports the network.

intelligence energy integrity.

purchase and sale without a trusted party such as visa or Western Union.

cuban- ” it doesn’t have to be billion dollar exits. Million. Tens of Millions. Small IPOS. If you can help enough companies get to capital that takes them to the big leagues or gives them an exit, it will be like financial gravity. it will pull entrepreneurs to you.

so if you want to build the next silicon valley in barcelona, don’t promote the startups you have in your city or state. Many of them are going to go out of business before the ads hit or the conferences happen. Brag about the exits and how there is capital waiting for amazing entrepreneurs to reach their goals.

the currency called bitcoin is the lightbulb; the technology of bitcoin is the grid. its a faster, more global payment system.

its the internet in 1994.

recursive bitcoin mining to pay for the wifi to operate the miner.

reward. reward. reward.

value in speed, dectralization, low cost, in a growing globally connected world.

sequential vs parallel processing

computer vs human

novamente, lisp,

strong views, weakly held.

 

 

as it takes more computing power to produce a block of bitcoins the exchange value will increase.

Those who speak do not know, those who know do not speak.

Small and medium size tech enterprise need software engineers, UX designers, project managers. Not just software engineers, THE BEST software engineers.

not matter what field you are in, be THE BEST.

python, android, iOS.

Raspberry Pis, computer hardware.

build something creative something cool.

mergers & acquisitions

business to business application marketplaces

Bitcoin is not only just the beginning, its the end to many practices. Every single industry will be disrupted. M2M value processing will become seamless. Automation, delegation, optimization in the Urban Operating System.

Bitcoin and Venom analogy. A blockchain. A publicly verifiable ledger of agreements without the need for a third party. A sent X to B.

The intrinsic value is in the use of applications built on top of the technology.

anything that is currently done with a third party involved as a service will be displaced by a decentralized block chain.

A digital handshake seen by the internet

not just one-person to another person, one person to many.

not just one machine to another, one machine to many.

not just one-person to another person, one person to a company.

one company to many persons.

What I know, at this point, is there is a gap.

A distributed marketplace, the peer economy. a medium of transfer value that doesn’t exploit. EX books after a semester.

Now an exhortation.

Path from network marketing to international business to technology can also be reversed as in technology, to international business to network marketing.

Entrepreneurship before starting a venture.

building a website before formally learning to code.

learning to code before building an app.

bitcoin before mining for bitcoin.

knowledge + action = power.

drive, skill, desire, freedom.

energy, effort, execution.

living vs sharing

presence.

sharing vs living

execute with effort and energy

freedom comes from a desire for skill and drive

power comes from action with that knowledge you have acquired.

genuine love for what you do.

find a medium that expresses it. growth.

film. word. capture. expression.

find the tool set, the medium, that empowers you to build upon your creative impulse.

travel. learn different languages. meet different people.

live the dream.

Automated Trading between Bitcoin and Altcoin Exchanges

This is the sequence to automatically trade your mined Bitcoins by transferring them to a deposit wallet then trading them for a variety of different altcoins.

I. Setup an verified account on Coinbase.com. Enable Instant Buy. You will be able to buy $1,000 instantly and $50,000 daily.

II. Mine Bitcoin in a pool and set a low payout threshold like .01 BTC. Set up your payout wallet to your Coinbase bitcoin address. If you are running a Block Erupter Cube (30-38GH/s) you will hit .01 almost every other day.

III. Setup a Recurring send transaction from your Coinbase address to your Cryptsy or Vault of Satoshi BTC Deposit address
or Kraken

IV.Setup a recurring buy and sell to the altcoins of your choice from your Bitcoin Deposit address.

V. Hold on your altcoins, put them in a secure or offline wallet and enjoy the ride.

Best.

10 Reasons why Bitcoin will hit $1,000,000

International trade and competition is about mutual benefit exchange, but monopolization leads to profit. The globalization of digital currency will empower the unbanked in developing countries in a way that has never been possible before. Blockchain based decentralized networks will be laughed at, then strongly opposed, then serve as self evident. Bitcoin is just the namespace for the Internet of Money, the blockchain is what has intrinsic value. When people start building and using blockchains the open source verification of anything will be seamless regardless of location in the world. User adoption, merchant adoption, core development and the trasmission and store of virtually any commodity will be a catalyst for the price of Bitcoin.

Read Bitcoin White Paper

1) Bitcoin is extremely undervalued. 

The current market volume of Bitcoin is around 8bn dollars.  Whatsapp sold to Facebook for 19 B in Cash; a quarter of their total cash. Put this into perspective. Bitcoin is an open source  decentralized payment network and currency that has the potential to reach over 5 billion people connected to the internet by 2020; I think that has a little more disruptive potential than a free messaging application.

2)     Remittance Markets

Western Union processes remittances between countries via wire transfer. A standard transfer takes 3-5 business days and cost 5 dollars. It expedited transfer take 1-2 days and cost 22 dollars. With the bitcoin protocol sending remittances between borders will be more cost efficient at almost 0% transaction fee, and could take as little as 10 minutes. Sending any amount of money, to any other bitcoin wallet in the world, seamlessly. Any amount of bitcoin can be securely stored in a digital wallet or physical paper wallet for free.

3) Mercant Adoption

For sales transactions with Paypal, they charge 2.9% + 30 cents per transaction. For international sales its 3.9% + fixed fee based on what currency your dealing with. A merchant may not like Bitcoin at first, but in time it will like the margins it gains from it. Overstock.com, TigerDirect.com, Gyft.com, Dell, Microsoft, PayPal(Braintree), Expedia are just a few of the names that accept Bitcoin. Many SMEs are beginning to accept bitcoin as well.

4) Micropayments

Content that is paywalled such as WSJ will be available through micropayments because of Bitcoin. Bitwall offers a paywall to selected content so that consumers can pay a micropayment and see the article without having to get a subscription in fiat currency. There is value in this for the publisher and consumer in that popular articles now can be accessed without paying for a full subscription. Right now, this is not possible because it cost too much process a micropayments paywall in fiat currency. Free education via a platform like Khan Academy, Udacity, Coursera, Codecademy; could be provided in exchange for micropayments to a wifi hotspot. Bitcoin could enable access to educational content for students in developing nations. Changetip and Coinbase will take micropayments viral. Tipping content creators will be a new form of monetization on the web, something not possible with traditional fiat rails.

5) Opensource in Nature

Bitcoin is being developed on a global scale by software engineers in a collaborative effort. It is currently the biggest opensource project. Many different applications are being developed on open source platforms such as Github and Sourceforge. The core sourcecode of Bitcoin is being developed in an opensource effort as well.

6) The Unbanked Population

Developing world populations interest. 5.9 Billion people will have smartphones within the next 5 years. People in China, India, Africa, and Latin America will be able to utilize Bitcoin. Look at MPesa in Africa… great example of mobile digital banking first.

7) Crowdfunding and Microfinance

Bitcoin is an effective means to crowdfund entrepreneurial projects, nonprofit causes, natural disaster aid, a campaign; or any cause really. A simple QR Code can be generated and scanned to bring the user to a URL where they can sign in to their Coinbase account via API, or enter their wallet address and donate a certain amount to the cause. An API with Kickstarter can be programmed seamlessly and it can reach anyone in the world. The Jamaican Bobsled team was donated $33,000 in Dogecoin to fund their Olympic trip to Sochi. Crowd funding via Bitcoin will empower many entrepreneurs in developing nations.

8)   Future applications and assets

Decentralized asset exchanges will revolutionize the way global activity in stocks, bonds, loans, commodities trades, bets, puts, and calls; all will be on a distributed ledger, terms set by computer code and AI. This system will usher in a new age of communication and globalization. Bitcoin is a disruptive technology in that its function becomes more efficient the more users join. The more nodes, the more miners, the more merchants, the more user adoption. Higher value because of its scarcity, and deflation in turn bringing a higher value per coin. Protocols will be built on top of bitcoin to make it better at what it is intended to do.

8)     E-commerce Channels

Bitcoin will enhance e-commerce and enable a leap into global finance for developing nations. For January and February of 2014 the number of transactions per day ranged from 50,000 – 70,000. This number will continue to rise I imagine we will see 100,000 transactions daily by mid 2014. ( reached on Dec 4, 2014, somewhat close)

9)     Mining Transactions

Bitcoin miners are only in the thousands at this point in time. Chip manufactures will make processors that run an OS and mine on a selected network node. This will facilitate the birth of more decentralized protocols that enable people to not only trade scarce assets over their personal apparatus but also mine as well therefore drive user adoption and supporting the network. Miners will also be able to attach transaction fees and this will give incentive after all coins have been released into the market.

10)  Venture Capital Interest

Bitcoin is an enormous technological achievement and it is a lot getting attention; both from critics and some of the top investments firms in Silicon Valley.  Teams of entrepreneurs and developers around the world are working to build on top of this protocol, solves its enterprise problems, and mold it into it ultimate purposiveness. $10,000 per Bitcoin seems like a stretch, but some executives believe the price could go up to as much as $100,000. over 400 million in VC was invested into Bitcoin companies in 2014.

Ultimately, Bitcoin fits the purpose of a global digital currency, transaction ledger, store of value and payment network. It is Gold 2.0. 

 

Decentralized Asset Exchanges

The next layer on top of the Bitcoin protocol is real time asset distribution information, consensus , and public ledger. Stocks, bonds, real-estate, escrow, microloans, gambling, crowdfunding and P2P contracts will be executed on decentralized networks. This has been referred to as colored coins or designated digital “contracts” by a new protocol named Ethereum. Ethereum is a platform, a scripting language, and ultimately a new decentralized system for developers around the world to build with. This can be any sort of deal, contract, exchange that can be mathematically expressed in code. It enables the parties to set the terms in a publicly verifiable and protected transaction. This can revolutionize the way the internet of money serves as self evident. There is an even greater application that will emerge from these types of systems. This is the DAO, or Decentralized Autonomous Organization.

Imagine a corporation 20 years from now that is completely automated, checked and balanced in its management by computer code, providing a service that is globally accessible. This is the DAO. An organization that relies on the network and the programmers pivoting with hacks that maximize the user experience and delegate operations more efficiently to the computer system. Developers around the world can instill Artificial Intelligence into a publicly traded corporation, a voting system, or even a manufacturing facility.  The open source system will enable people to effectively build an organization with code, set it in motion, and delegate operations to machines and data servers around the world.

The value in a decentralized distributed system such as Ethereum is that anyone with an apparatus verifying contracts is now an additional node on network. Marc Andreesen of Andreesen Horowitz predicted that chip manufactures will soon start building chips that can support an OS and mine. An ever growing network of nodes, in every electronic device, verifying contracts between two people or within autonomous organizations. It is truly empowering to acquire the skills to build on a platform like Ethereum. It is an essential technological intermediate for what decentralized protocols like Bitcoin will enable in the future.

For more information about Etheruem you can read the white paper here.

Colored Coins video

Salesforce App Development

I am just about done finishing my first application on the Salesforce App development platform. The course I took on Udacity gave a great overall tutorial on how to develop objects, fields, and records in a distributable application. My initial thoughts were the DOM (Direct Object Model). The parent-sibling class relation system used is Salesforce to automate functions between objects. The other first impression was the relation to excel vlookup, pivot tables, charts, graphs, and memorizing click paths. There also is a touch of UX to optimize the layout of forms and make the content as applicable as possible. Business to Business applications on Salesforce can be highly scalable. You don’t really feel like you are building an app at first. You are laying down the foundation for one. After downloading the Salesforce1 app to my surprise I had a fully mobile and functioning app. There also is not a ton of coding involved, but it definitely helps to know how to express rules mathematically.

Python + embedded scripts is next.

How to setup ASIC Block Erupter Cube

So you got your hands on a Block Erupter Cube but can’t quite figure it out? This is the tutorial for you. The ASIC MINER Block Erupter Cube machines run 30-38Giga Hashes/ sec. It has first generation ASIC chips, a built in cooling system, and they are pretty awesome.

Here are the steps you need to take to get the cube powered up, configured, and hashing.

First things first. This is the hardware you are going to need to buy:

Setup and Power on

Unbox the Corsair 500x power supply and the ASIC Miner Block Erupter Cube.

1. Plug in the fuse into the back of the ASIC Miner Block Erupter. The fuse will come in the box. It is a metal with a green casing.

2. Plug in your two 6 PCI-E connectors from the Corsair 500x power supply into the back of the ASIC Miner Block Erupter Cube.

3. The miner will come with a plastic electrical connector. It should come with a green paper clip. You need this to basically jumpstart the miner

4. Plug in an Ethernet cord from the Block Erupter to your router. Also you will need to plug in the mini USB from your computer to the Cube.

5. You can now turn the power switch on the Corsair Power Supply. Some blinking lights should go and the fans on both machines should start. (If nothing happens make sure that you have the plastic electrical connector on, this took me a little bit to figure out).

Now, your Block Erupter Cube should be powered on.

Configuration

Download the bridge http://www.silabs.com/products/mcu/Pages/USBtoUARTBridgeVCPDrivers.aspx

  1. Here comes all the tricky configuration steps. It probably will take you awhile to trouble shoot everything but it will be all be worth it when you mining bitcoins at 30-38 Gh/s.
  2. Setup your router so that the DHCP addresses range is from 192.168.1.100-192.168.1.254. This process varies a number of different routers. You want to look for DHCP range and set it to the one listed above.

The Block Erupter Cube default IP address for configuration is 192.168.1.254:8000

3. type this 192.168.1.254:8000 URL into your browser.

If everything is setup properly you will be at the cube configuration page. If you cannot get to this page you may have to troubleshoot a few things. It took me awhile to figure this out. There are a lot of different variables that are in place.

  • Make the IP address of your router 192.168.1.1
  • Make sure the DHCP rangeof your router is 192.168.1.100-192.168.1.254.
  • Update to the latest version of your browser
  • Make sure you are connected to the WiFi
  • Make sure your mini USB is connected from your computer to the cube

Once you get to 192.168.1.254:8000 you will see a blue configuration page.

You will notice a bunch of 000’s at the top of the screen as well as a number of buttons to adjust you’re the settings of your ASIC Miner Block Erupter.

  1. The ASIC Block Erupter Cubes run on the GETWORK protocol so you will need to set up a local proxy and a cloud based proxy.

The local proxy can be setup using Slush’s Pool Stratum Proxy.

  1. Google Stratum Proxy. Click on the first link and it will direct you to Slush’s Mining Proxy. The download is available for Windows.
  2. For the Port you will type in 8332 and your IP address can be found by using run –> cmd –> ipconfig/all

Underneath that you will need to put your worker user name and password for the local pool. Create a new worker in Slush’s pool and enter the information twice in the last box. Like this

username.worker:password,username.worker:password

You have to enter the information twice because it is for the local proxy and the cloud base proxy.

3. For the cloud base proxy you can use westcoastbtc.cloudapp.net and port 8902.

Your IP information should like like YOURIPADDRESSSHERE,westcoastbtc.cloudapp.net
After your finish imputing all this information. Click the Update button.

Your configuration page should look like:

IP: YOUR IP ADDRESS

MASK: 255.255.255.0

Gateway: 192.168.1.1

Web Port: 8000 (keep the same)

Primary DNS: (keep the same)

Secondary DNS: (keep the same)

Ports: 8332,8902

Server addresses: YOURIPADDRESSSHERE,westcoastbtc.cloudapp.net

            user:password: username.worker:password,username.worker:password

After your finish imputing all this information. Click the Update button.

Go back to your configuration page with the URL 192.168.1.254:8000

You should start seeing your mining hashing. You can see the primary/secondary pool and also overclock the miner to 38GH/s.

Best of luck setting this machine up. If you have any questions about setup or configuration feel free to contact me.

UPDATE 3/10/14 : for the new proxy version 1.5.5 , you may need to factory reset the pie and re-enter configuration details. It gave me a little trouble but got the cubes up and running again.

Also if you still are having trouble setting it up, check out these videos on how to setup  by JonesGear.com

Setup

Configuration

Tips Appreciated:

My Coinbase Payment Page

Best.

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