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Bitcoin 101 - Getting Your BTCs out of Your Paper Wallets & Cold Storage - Fun with Sloppy Wallets
 
10:54
Are your bitcoins stuck in cold storage or on your paper wallet? Sure those are both GREAT places to keep them, but how do you get them out? What does 'sweeping' mean? These ideas are the goal of this video. Hopefully by the end of these videos you will no longer be afraid to take your bitcoins out of the reaches of malware programmers. This is part two of our bitcoin security series. Here's the intro to the series... ========= Bitcoin security? UGH!!! Way too many bitcoins are being stolen by crafty malware programmers. Bitcoin does so many things better than banks (trusts, escrows, programmable money, cheap transfers, instant accounts, etc.), but one area that is not quite so nice, is security. While the bitcoin network, itself, appears bullet-proof, lots of bitcoins are being stolen, via hacking, malware and flaws in online wallets and even google's random number generator. The answer is to get your bitcoins entirely offline, and the two ways to do this are paper wallets and cold storage. The previous video is an introduction to making both, while this video focuses on how to get your bitcoins out of cold storage (to spend, to move to another wallet, etc). James walks you through the software and ideas used in making 'sloppy' offline wallets (which are great to have). He also gives suggestions at making even better offline wallets. This is the first of many videos we will make on bitcoin security, and the least technical. We hope you'll enjoy. Here's the public address to the wallet we sent the funds too...good luck...hope you get there first. https://blockchain.info/address/19ZxxVTac6zxH9a9xqXhtntepTLosFa8F9 Here is the live link to our donation address https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Feel free to like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Welcom to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. We hope you enjoy. Thanks, WBN
Views: 58051 CRI
Bitcoin 101 - Intro to Paper Wallets & Cold Storage - Bitcoin Security & Fun with Sloppy Wallets
 
26:57
Bitcoin security? UGH!!! Bitcoin does so many things better than banks (trusts, escrows, programmable money, cheap transfers, instant accounts, etc.), but one area that is not quite so nice, is security. While the bitcoin network, itself, appears bullet-proof, lots of bitcoins are being stolen, via hacking, malware and flaws in online wallets and even google's random number generator. The answer is to get your bitcoins entirely offline, and the two ways to do this are paper wallets and cold storage. This video is an introduction to making both. Host, James D'Angelo, walks you through the software and ideas used in making 'sloppy' offline wallets (which are great to have). He also gives suggestions at making even better offline wallets. This is the first of many videos we will make on bitcoin security, and the least technical. We hope you'll enjoy. Here's the private keys we generate in this video with their public addresses! PRIVATE KEY #1 (we sent one dollar to this one on Jan 5th) 5KNhmaUuPNeau7KptEhWefEcAwfMim8VABR6QhJH8JHAFBbnCe5 PUBLIC ADDRESS 17SwcawAtnCQmemPDDBGurd28tTbEbuK5z You can see it live here https://blockchain.info/address/17SwcawAtnCQmemPDDBGurd28tTbEbuK5z PRIVATE KEY #2 (we didn't send any funds to this one) 5J2VYxJsAktgLZ7PWNevxAEPFaKPftCYhyi1VxMHzT56kLTwtLY PUBLIC ADDRESS #2 19ZxxVTac6zxH9a9xqXhtntepTLosFa8F9 You can see it live here https://blockchain.info/address/19ZxxVTac6zxH9a9xqXhtntepTLosFa8F9 These keys will work forever, and are open wallets. You can play with them, send tiny amounts of bitcoins (very tiny because the funds in these wallets are spendable by anyone because the private key is public) and you can even withdraw the funds in them if there is still some left!!! nice. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar Our address... https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 92967 CRI
Bitcoin 101 - Quindecillions & The Amazing Math Of Bitcoin's Private Keys
 
23:51
How do you slow down hackers and provide equal access to everyone on earth? Not easy. But Bitcoin's solution is devilishly simple, employing outrageously big numbers. Bitcoin's private keys are made of numbers (called quindecillions) that are so large, they literally choke the best computers. In fact even if all the world's computers were able to work together, these numbers would still be too large. By using an analogy to drawers and pirates, James dives into this math, revealing not only how simple the idea is, but how well it works. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, James Follow me on Twitter @JamesGDAngelo
Views: 47994 CRI
Bitcoin 101 - Merkle Roots and Merkle Trees - Bitcoin Coding and Software - The Block Header
 
24:18
Most people on earth have never even heard of Merkle roots. But bitcoin programmers deal with them every day. This is old school technology in terms of software, but still very important in terms of security and data management. In this video James will walk you into the world of Merkle roots and Ralph Merkle, who invented this technology in the late 1980s. If you like seeing actual coding examples, your in luck. James starts incorporating actual python examples...after all, would you want to listen to Car Talk and not want to hear about a muffler? Enjoy. Ken's great blog and code is here (near bottom of the page) http://www.righto.com/2014/02/bitcoin-mining-hard-way-algorithms.html Our reworking of Ken's code is here - Very user friendly https://github.com/wobine/blackboard101/blob/master/IntroToMerkleRootsWBN.py And here's the blockexplorer link to the actual block we explored http://blockexplorer.com/block/0000000000000000e067a478024addfecdc93628978aa52d91fabd4292982a50 Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN I tried to paste my code here but YouTube doesn't allow brackets!!! Freaks.
Views: 32627 CRI
Bitcoin 101 - Fun with Brain Wallets (Making and Playing With Them) - Bitcoin Security
 
15:14
There's no idea in Bitcoin more science fiction ready than the idea of brain wallets. To actually hold your wealth inside your head (and no where else) is something that can be done only with bitcoins. In this video we set up and play with a number of brain wallets (of course they aren't really brain wallets if we tell everyone the passwords and private keys...but you get the idea). Whether you are a fiction writer or an escaping refugee, this video is for you. Welcom to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. We hope you enjoy. And remember the official WBN launch is coming up : January 1st, 2014. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 18730 CRI
Bitcoin 101 - What is Bitcoin?
 
22:33
This is the definitive introduction to Bitcoin. Without diving too deep into the code, James brings you to understand why Bitcoin works and why it has such power. This video is the result of a talk we did at Harvard University in April 2014 for Bitcoin beginners. Many of them mentioned that this talk helped them to finally understood the basic idea and we hope it works for you too. Even better, it is a story, covering the failures and difficulties of creating a digital currency, so for non-techies it is more accesible as well. For the original slides to this presentation, click here http://www.slideshare.net/jamesdangelo9883/bitcoin-101-bitcoin-for-beginners-by-world-bitcoin-network Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in Bitcoin, hosted by James D'Angelo. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar Our address... https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 89576 CRI
Bitcoin 101 - Calling All APIs - Coding Live Price Data From Bitcoin Exchanges
 
10:53
Confused about APIs and JSON? Looking to run an arbitrage business or build a data intensive site? Well this video is for you. This is the first of our videos looking at programming calls for exchange data. In just a few lines of code, we grab the last price from four exchanges (Btc-e, Kraken, Bitstamp and Bitfinex) and pseudo exchange extraordinaire, Coinbase. James walks you through the first steps of building a live feed of this data. As usual, all our code is on GitHub for you to rip apart and enjoy. https://github.com/wobine/blackboard101/blob/master/call%20all%20apis%20-%20exchanges.py Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe. Thanks, WBN
Views: 21213 CRI
Bitcoin 101 - Why Bitcoin's Growth is Normal & The S-Curves You Could Never See
 
20:47
Economists are up in arms, claiming that bitcoin's 1000% annual growth is faster than anything they've ever seen. Because of that, they lash out, calling bitcoin volatile, a bubble, a pyramid scheme, etc. But don't worry, James D'Angelo puts on his VC glasses to compare the 4.5-year-old bitcoin to facebook, twitter, google at the same periods in their growth. The result is that Bitcoin's growth is as exponential, as volatile and as normal as any enormous tech giant. And just for fun we threw in a little bit about feral rats reproducing on a desert island. This is the 2nd episode debunking bitcoin myths series. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar Our address... https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 78225 CRI
Bitcoin 101 - Multi-Signature Addresses pt1 - Coding This Major Security Improvement
 
21:45
Just like the Wright brothers, on those first flights at Kitty Hawk, didn't concern themselves that much with landing. And improvements like anti-lock brakes and seat belts help protect passengers in cars. Bitcoin is now in that 'second phase' where security is becoming massively important. Fortunately, because the currency is programmable, anything is really possible. Originally introduced into the bitcoin client a few years ago, multisignature addresses massively more secure than regular ones. Their adoption by all wallet manufacturers is coming. But, for you techies and voyeurs, we'll jump inside the ideas of multi-sig and even program the stuff. Hope you enjoy. All the public and private keys are at the bottom of this description James' code can be found here: https://github.com/wobine/blackboard101 there, you'll see the code for part one and two of this video Jeff Garzik's Bitcoin python library is here https://github.com/jgarzik/python-bitcoinrpc remember to replace his connection.py file with ours for multisigs And a little bit about bitcoind is here https://en.bitcoin.it/wiki/Bitcoind but remember that it really is the most bare-bones bitcoin wallet software, but the one which allows the most programming. we love it. A multisig wallet is already in production: Check it out https://www.bitgo.com/ We're still waiting to see how they use multisig to see if it really works for the end user. And finally, here's our lovely multisig address http://live.bitcore.io/address/35Z3xG92YkW5Xo4ngQw6w5b3Ce6MDw94A8 So cool to see it live and in action. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. We hope you enjoy. And remember the official WBN launch is coming up : June 1st, 2014. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN Brand New Address Pair: Number 1 Compressed Public Address - 34 chars - 1L2hyXoKmtRffKHhQ8XGyWFVBgZHJckkbx Private Key - 52 chars - L2M1uRgdwgCotoP8prWJYYwz2zwWgsMa9TJwqARG7nFxkpdvBSsm Less compressed Public Key/Address - 66 chars - 020743d44be989540d27b1b4bbbcfd17721c337cb6bc9af20eb8a32520b393532f Brand New Address Pair: Number 2 Compressed Public Address - 34 chars - 13XTNTnApsAc4aEPniAncmnDxWJcY6QcPF Private Key - 52 chars - L1M2ZgjoAtDVu9uemahiZBQPwFA5Tyj4GLd1ECkDryviFrGp6m7k Less compressed Public Key/Address - 66 chars - 02c0120a1dda9e51a938d39ddd9fe0ebc45ea97e1d27a7cbd671d5431416d3dd87 Brand New Address Pair: Number 3 Compressed Public Address - 34 chars - 1DT8Ki2HKzFYUVnv9hg9Pg1EE5G32kmP3Y Private Key - 52 chars - L5PkVBzR4SdQimMsfHnRqRegJZDFJ22sGjSbfp3SsPSnVoB8vRFE Less compressed Public Key/Address - 66 chars - 0213820eb3d5f509d7438c9eeecb4157b2f595105e7cd564b3cdbb9ead3da41eed
Views: 20679 CRI
Bitcoin 101 - Modelling the Price of Bitcoin - Is a $100,000 bitcoin possible?
 
26:45
Can the price of Bitcoin reach two thousand dollars, ten thousand, or more? Even if you consider the blockchain as the fundamental innovation of Bitcoin, price matters, and indeed, the higher the price, the more Bitcoin is protected. In this video we focus on price, specifically in the attempt to model the price of Bitcoin. Big investors make price models for assets. Trouble is they keep this information private. Models may not predict the price, but the certainly provide a better understanding. In this video, James walks you through the concepts and challenges of modelling the price of Bitcoin. From velocity, transaction volume, supply, to all the big markets Bitcoin proposes to disrupt (hedge funds, gold, e-commerce, money supply, remittances etc). Better still we walk you through the alpha version of our open-source model. The live model: http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html GitHub code: https://github.com/wobine/blackboard101/blob/master/BitcoinPriceModel-Alpha.html Great post by Robert Sams: http://cryptonomics.org/2014/02/18/can-we-value-bitcoin/ By playing around with the model, you'll find yourself understanding the concept in a richer way, and soon you'll be walking and talking bitcoin price like a pro. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin hosted by James D'Angelo. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar Our address... https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN Follow me on Twitter @JamesGDAngelo
Views: 42832 CRI
Bitcoin 101 - idchains - Part 1 - The Basics Of A Bitcoin-Based Global Identity System
 
23:16
idchains - The Face of Identity: 2015 might just be the year of identity. Numerous global projects have stumbled at the point of identity, and billions suffer from inability to invest and maintain their own identities. Corrupt and politicized governments are not often the best answer. But they have traditionally been the only option. Combining the oldest and newest technologies of identity (face recognition and bitcoin), James D’Angelo provides an ultra simple, yet endlessly robust scheme for tackling the problem. In this video James D'Angelo presents the problem, design goals and the first steps of implementation with the technology. Future videos will dive deeper into the philosophy, logic, use cases, implementations as well as providing more robust solutions for the technology, incorporating opcode return, merkle roots and merkle trees, etc. Links & Python code mentioned in the video: http://worldbitcoinnetwork.com/myface.jpg http://worldbitcoinnetwork.com/eyedcode.zip (python 2.7 code) https://blockchain.info/address/1ojcEjDnTZYhWtgCD1PHMKTTjciyVCEyF Follow me on Twitter @JamesGDAngelo Public and private keys mentioned in video My Photo’s Public Address: 1ojcEjDnTZYhWtgCD1PHMKTTjciyVCEyF My Photo's "Private" Key 8908861a194a54b8c59bd2bf8b51c4d0f0860978728533e8fd94c756723e7a6f Target’s Public (Confirmation) Address: 17majtRMjCjpSCasbXFxWiHWAmzLTSdtga Thanks to Conner Davidson @ConflictOp for his help Thanks to John Clippinger and the team at Intrinsic. This video is dedicated the loving memory of my mother Anne Abigail D'Angelo Jan 7, 1938 - July 10, 2015. No one has ever been more willing to pick up the phone and listen any time of day or night than her. I miss you mom. Donations appreciated 1javsf8GNsudLaDue3dXkKzjtGM8NagQe
Views: 17661 CRI
Bitcoin 101 - Elliptic Curve Cryptography - Part 4 - Generating the Public Key (in Python)
 
21:22
Welcome to part four in our series on Elliptic Curve Cryptography. I this episode we dive into the development of the public key. In just 44 lines of code, with no special functions or imports, we produce the elliptic curve public key for use in Bitcoin. Better still, we walk you through it line by line, constant by constant. Nothing makes the process clearer and easier to understand than seeing it in straight forward code. If you've been wondering about the secp256k1 (arguably the most important piece of code in Bitcoin), well then this is the video for you. This is part 4 of our upcoming series on Elliptic Curves. Because of such strong requests, even though this is part 4, it is the first one we are releasing. In the next few weeks we will release the rest of the series. Enjoy. Here's the link to our Python code (Python 2.7.6): https://github.com/wobine/blackboard101/blob/master/EllipticCurvesPart4-PrivateKeyToPublicKey.py Here's the private key and the link to the public address that we use. Do you know why it is famous? Private Key : A0DC65FFCA799873CBEA0AC274015B9526505DAAAED385155425F7337704883E Public Address on Blockchain.info https://blockchain.info/address/1JryTePceSiWVpoNBU8SbwiT7J4ghzijzW Here's the private key we use at the end: 42F615A574E9CEB29E1D5BD0FDE55553775A6AF0663D569D0A2E45902E4339DB Public Address on Blockchain.info https://blockchain.info/address/16iTdS1yJhQ6NNQRJqsW9BF5UfgWwUsbF Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe. Thanks, WBN
Views: 19999 CRI
The Founding Fathers' Forgotten Solution
 
06:56
How the Founding Fathers prevented special interest groups and lobbyists from corrupting our democracy – and how President Nixon shredded their work with an unheralded bill in 1970. This idea was first presented live in April 2015 in talks at MIT and Harvard. It has received a number of soaring endorsements from professors at both institutions as well as authors and researchers. The MIT talk is available online, as well as James D'Angelo's original (November 2014) research about Nixon's Ghost Bill, The Cardboard Box Reform and the Legislative Reorganization Act of 1970. Transcript: https://www.scribd.com/doc/270512504/Transcript-of-the-Founding-Fathers-Forgotten-Solution-Posted-July-4-2015 The original Cardboard Box Video (lots of evidence): https://www.youtube.com/watch?v=1gEz__sMVaY UPDATE (2017) Since posting this video James has partnered with Harvard Professor of Congress David King and author Brent Ranalli to further investigate this problem of transparency. The results are even more striking and powerful than initially proposed in this video. You can follow their latest work, read their papers and see their latest talks here http://congressionalresearch.org/ Follow James on Twitter @JamesGDAngelo
Views: 14405 CRI
Bitcoin 101 - Elliptic Curve Cryptography - Part 5 - The Magic of Signing & Verifying
 
19:33
There is nothing more magical in Bitcoin, or all of cryptography than digital signatures. And the most magical step of all is the verification. This is the step we focus on in this video, generating the entire process in just 50 lines of code (no imports or special function calls!) and watching as the Private Key falls out of the math entirely! So beautiful. The receiver is left with proof of the sender, confirmation of the message and no way of retrieving the senders private key. This is magic indeed. Here's the link to the Python code: https://github.com/wobine/blackboard101/blob/master/EllipticCurvesPart5-TheMagic-SigningAndVerifying.py Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe. Thanks, WBN
Views: 8740 CRI
Bitcoin 101 - Multi-Signature Addresses pt2 - Spending, Protocol & Coding
 
33:56
Part One - Generating a Multisignature Address Part Two - Spending From the Multisignature Address This part two of a two part series on muti-signature addresses and wallets. This is important technology for massively improving bitcoin security. In part one we generated a multisig address/wallet. In this part, we'lll walk you through all the steps necessary to spend the funds, going line by line through some simple python code and generating a payment in bitcoind. In many ways, multisig addresses are the answer to most of bitcoin's concerns and fears of theft. And now its time to scale up massive implementation for them. Originally introduced into the bitcoin client a few years ago, multisignature addresses massively more secure than regular ones. Their adoption by all wallet manufacturers is coming. But, for you techies and voyeurs, we'll jump inside the ideas of multi-sig and even program the stuff. Hope you enjoy. James' code can be found here: https://github.com/wobine/blackboard101 you'll see multisigs part one and two Jeff Garzik's Bitcoin python library is here https://github.com/jgarzik/python-bitcoinrpc remember to replace his connection.py file with ours for multisigs And a little bit about bitcoind is here https://en.bitcoin.it/wiki/Bitcoind but remember that it really is the most bare-bones bitcoin wallet software, but the one which allows the most programming. we love it. And finally, here's our lovely multisig address http://live.bitcore.io/address/35Z3xG92YkW5Xo4ngQw6w5b3Ce6MDw94A8 So cool to see it live and in action. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 11287 CRI
Bitcoin 101 - A Million Killer Apps - Part 2 - Blockchains, The WWL & A Global Shared History
 
34:41
History has always been written by the victors. But beginning in 2009, this limitation has been disrupted. Designed to be electronic cash, Bitcoin has proved to be so much more. In this video we focus on re-thinking the blockchain, and understanding why this technology can prove to be revolutionary for how humanity records, remembers and keeps track of itself. Indeed by providing an immutable and transparent database, open to anyone, blockchain technology is destined to disrupt deeds, journalism, scientific publications, patents, artistic rights, and history itself. This is much more than a public ledger or proof of publication, this is a global shared history. To understand these concepts, James takes you on a tour of the blockchain and the World Wide Ledger (WWL). If you've had trouble grasping blocks or chains or the combination thereof, this video is for you. This video is part 2 of a 3 part series. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in Bitcoin hosted by James D'Angelo. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks
Views: 16147 CRI
Bitcoin 101 - A Million Killer Apps - Part 1 - Smart Contracts & Bitcoin's Big Bang of Disruption
 
25:36
Too often a conversation about Bitcoin leads to some sketpic suggesting that Bitcoin has no killer app to take it to the next level. Nothing could be further from the truth. We've grouped together all the currently, under development, and already launched killer apps of Bitcoin, and in short order they became too numerous to count. So we had to break them up into three big videos which we've decided to call 'A Million Killer Apps'. Wall Street take note, most of what you do is on the list. Also, This video provides a great summary of Nick Szabo's seminal idea - Smart Contracts. Follow me on Twitter @JamesGDAngelo This video is part 1 of a 3 part series. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in Bitcoin hosted by James D'Angelo. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 22822 CRI
Bitcoin 101 - The Nightmare of a 51% Attack - Part 2 - How to Destroy Bitcoin
 
17:29
There is no greater point of weakness in Bitcoin than a 51% attack. A fifty-one percent attack can shut down the network. This video discusses all the attack vectors available to an attacker. And there are many, even worse, the devastation available is catastrophic. While a 51% attack doesn't appear to offer a lot of financial gain, history is not just made up of rational actors. James goes through Transaction Denial of Service, Selfish Mining, Monopoly Mining and Double Spending, finding fault with proposed patches and solutions. It is not pretty. As Gavin Andresen says, if someone was able to run a 51% attack "that would be bad". We agree. It would be very bad. At the end of the video we discuss protocol changes that would make an attack much more difficult. We highlight Proof of Stake as a fallback algorithm. The biggest advantage is that POS provides a MUCH higher cost to the attacker for perpetrating such an attack. That, would be good. In part one, we go through a cost analysis of the current hardware needed to launch a successful 51% attack to get a better picture how much it might cost. Unfortunately, the numbers are lower than expected, and most of the previously published values come in three to fifty times higher than actuality. In part two we will talk more about what an attacker might be able to do (double spending is not the worse tool at their disposal) and we prod at some possible solutions. Stay tuned. Here's the links referenced in the video Gavin's Blog Post from May 2012 http://gavintech.blogspot.com/2012/05/neutralizing-51-attack.html The wiki page referencing the 51% attack https://en.bitcoin.it/wiki/Attacks#Attacker_has_a_lot_of_computing_power Vitalik Buterin's article discussing Selfish Mining http://bitcoinmagazine.com/7953/selfish-mining-a-25-attack-against-the-bitcoin-network/?utm_source=twitterfeed&utm_medium=twitter Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. We hope you enjoy. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe For World Bitcoin Network's GitHub Page https://github.com/wobine/blackboard101 For a great introduction to Python watch this 2-hour class https://www.youtube.com/watch?v=RrPZza_vZ3w Thanks, WBN
Views: 10092 CRI
The Cardboard Box Reform - Nixon's Ghost Bill & A Crucial Flaw in Democracy
 
01:02:38
James D'Angelo (Winner 2014 MIT Climate CoLab, ex-NASA scientist) uncovers a crucial flaw in American democracy. Incredibly, the solution – which lays at the heart of all current social concerns (inequality, the recession, political division, government disapproval, Citizens United, civil rights and corruption) – costs under 5 dollars. James presents a breathtaking new look at transparency and the troubles it has wrought by opening the doors to special interests and the wealthy. So, welcome to the world of Martin Gilens' 2014 paper and flatline graph. Also welcome to the world created by electronic voting machines and the Legislative Reorganization Act of 1970 (passed on October 26, 1970). Unheard of in any current political discussion, this act of Congress has produced endless avenues for lucrative lobbying of special interest groups. UPDATE (2017) Since posting this video James has partnered with Harvard Professor of Congress David King and author Brent Ranalli to further investigate this problem of transparency. The results are even more striking and powerful than initially proposed in this video. You can follow their latest work, read their papers and see their latest talks here http://congressionalresearch.org/ Follow James on Twitter @JamesGDAngelo REFERENCES For much more on this topic see our website https://www.congressionalresearch.org Here are citations from over a hundred scholars who find similar problems with transparency http://congressionalresearch.org/Citations.html Here is a good first page for information on transparency http://congressionalresearch.org/SevenDeadlyMyths.html D'Angelo has found the most unusual (indeed counterintuitive) source for our current explosion in inequality and campaign financing in a place that most economists would't consider, the secret ballot. Considered by many to have crushed the first gilded age, the secret ballot was introduced en masse in the US starting in 1890. By 1940 it was everywhere (all citizens voted privately and most bills in congress were decided by teller or voice vote). And then for 30 years life was pretty good. Inequality was dropping, so were a number of other metrics, partisanship, campaign finance, national debt etc. And then, October 26th, 1970 there was a crack in our air-tight democracy - The Legislative Reorganization Act of 1970 opened up the votes of Congress (the committee of the whole). Dubbed a ’sunshine law’, this bill has only ever been considered a good thing. The trouble is, we vote in secret for a reason. Reasons most Americans forget. Every time votes are public we get massive explosion in two types of electoral fraud. They first form of Electoral Fraud is Vote Buying (Tammany Hall, etc), with as much as 20% of the electorate being paid to vote a specific way (often poor individuals being paid with a chicken wing or a beer). The second form is Voter Intimidation, often times people would vote in the local court house, and they would just announce their vote to the local staff. The trouble with voting publicly (stating your votes to a clerk) is that often citizens were voting on deputies and sheriffs who were sitting right there in the court house, listening. It is hard to vote against an evil Sheriff if he can see how you vote. It is easy to see the problem there. Interestingly, this is exactly what now happens in our Congress. Inside of congress, Voter intimidation leads to massive partisanship and polarization, and the vote buying leads to what some congressmen call ‘legalized bribery’. The convictions, admissions and stories of this are common (Jack Abramoff, ABACAM, etc etc). And this change in 1970 has led to a feedback loop that responds to the ever increasing money in Washington. Indeed The Legislative Reorganization Act of 1970 is the cause for the phenomenal growth of K-street. And all the big firms were born just months after it passed. The trouble is no one has ever called it what it is, Electoral Fraud. And the beauty is, all these alarming trends can be reversed by re-instating the secret ballot. Examples of Electoral Fraud in Congress: 1. Intimidation - John Boehner telling congressmen how to vote. Leads to massive partisanship. 2. Vote Buying - Abscam, Jack Abramoff and others, plus all the revolving door events 3. Logrolling - Congressmen trade votes (Tip O'Neill built Tufts into a major PRIVATE university by logrolling)
Views: 96912 CRI
The Devil in Democracy - The Cause & Cure For Institutionalized Racism
 
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Are you concerned about the Senate and their inordinate powers with respect to the confirmation of Supreme Court justices? Are you concerned about the explosive problems with race in the US? Then you've come to the right place. What if the cause for all gerrymandering and institutionalized racism is also a source for massive corruption and partisanship? More importantly what if all three problems can be fixed simply, perfectly and democratically? No quotas. No lines in the sand. Just equality. That is the focus of this video, which dives into a seemingly tiny compromise the Founding Fathers made in 1789 involving the most powerful special interest of the day - slavery. "Proportional representation is the principle that a legislature should reflect all of the voters who elect them. Like-minded voters should be able to elect representatives in proportion to their number. In contrast, most elections in the United States are winner-take-all: instead of reflecting all voters, our legislators reflect only the biggest or strongest group of voters that elected them, leaving all others unrepresented. The use of winner-take-all voting methods in our elections for state legislatures and Congress is a central reason for major problems with our politics: gerrymandering, partisan gridlock, no-choice elections and distortions in fair representation all have roots in the inherent problems of winner-take-all methods." - FairVote Multi-member districts (MMDs) are electoral districts that send two or more members to a legislative chamber. Ten U.S. states have at least one legislative chamber with MMDs - A multi-member electoral district (MMD) is an electoral district electing more than one representative to office. All proportional representation systems use MMDs, simply because it is impossible to distribute anything proportionally if there is only one seat. In proportional systems, the simple rule is that the larger the district size the more proportional the system. Other systems using MMDs are Block Vote, Party Block Vote, Mixed Member Proportional systems and Parallel systems. Multi-member Super District Voting in the House of Representatives would eliminate gerrymandering entirely. By James D'Angelo UPDATE (2017) Since posting this video James has partnered with Harvard Professor of Congress David King and author Brent Ranalli to further investigate these ideas. The results are even more striking and powerful than initially proposed in this video. ===== For much more on this topic see our website https://www.congressionalresearch.org Specifically this page: http://congressionalresearch.org/SenateProblem.html Here are citations from over a hundred scholars who find similar problems with transparency http://congressionalresearch.org/Citations.html Here is a good first page for information on transparency http://congressionalresearch.org/SevenDeadlyMyths.html EDIT May 21, 2016: Since I posted this video this problem becomes even more salient. This is because the US Senate is actually better equipped to serve minorities than most institutions on Earth. While the House has NO protections for minorities, the Senate has many (UCAs, filibuster, 60-40 splits, etc). These are powerful tools that dramatically serve minorities (of all types both political and racial). We also select a number of our presidents from the ranks of the Senate, so the lack of minority representation effects everything else as well (Presidency and the Supreme Court).
Views: 39355 CRI
Bitcoin 101 - The Nightmare of a 51% Attack - Part 1 - Calculating the Costs
 
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Proof of work is a new technology, and it has amazingly protected Bitcoin for five plus years. Still, there may be no greater point of weakness in Bitcoin. While a 51% attack doesn't appear to offer a lot of financial gain, monetary gain may not be the motive of the attacker. In part one, we go through a cost analysis of the current hardware needed to launch a successful 51% attack to get a better picture how much it might cost. Unfortunately, the numbers are lower than expected, and most of the previously published values come in three to fifty times higher than actuality. In part two we will talk more about what an attacker might be able to do (double spending is not the worse tool at their disposal) and we prod at some possible solutions. Stay tuned. Welcome to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. We hope you enjoy. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe For World Bitcoin Network's GitHub Page https://github.com/wobine/blackboard101 For a great introduction to Python watch this 2-hour class https://www.youtube.com/watch?v=RrPZza_vZ3w Thanks, WBN
Views: 15149 CRI
Harvard Talk - How Transparency & Accountability Overwhelmingly Favor Special Interests
 
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On Nov 21st at Harvard Kennedy School we presented our first talk on the troubling and unexpected consequences of transparency and accountability. We focus on the dynamics of representation that emerged out of the 1970 Legislative Reorganization Act and other Sunshine Acts from the 1970s. On balance these moves toward transparency have had tremendously negative consequences. Presented by David King (Senior Lecturer on Public Policy at the Harvard Kennedy School), James D'Angelo (Researcher at Congressional Research Institute) and Brent Ranalli (Historian & Policy Researcher at the Ronin Institute). We suggest that transparency has likely led to rising income inequality, congressional gridlock, soaring partisanship, rising campaign finance and many other troubling phenomena, including congressional inaction on climate change and the terrifying rise in incarceration, all since 1970. ===== For much more on this topic see our website https://www.congressionalresearch.org Here are citations from over a hundred scholars who find similar problems with transparency http://congressionalresearch.org/Citations.html Here is a good first page for information on transparency http://congressionalresearch.org/SevenDeadlyMyths.html Follow James on Twitter @JamesGDAngelo ==================================== CONTENTS 0:10 INTRODUCTION 1:41 WHEN CONGRESS PROTECTED AMERICANS Despite the best efforts by the DuPonts, Kochs and other powerful outside interest groups, Congress from 1930 to 1970 was leading the charge for economic equality, consumers and the environment while playing hardball with powerful outside interests. 7:24 THE UNEXPLORED PROBLEM Transparency has been entirely overlooked by scholars as a cause for the massive rise in partisanship, inequality and other problems. But opening all committees & congressional voting to outside special interests clearly changes the game. 13:49 WHEN MEMBERS OF CONGRESS HAD ALL THE POWER Members of Congress didn't have to worry about special interests before 1970. Secret voting and committees left special interests terrified of attacking members of Congress. 14:54 THE LAW Introduction to the Legislative Reorganization Act of 1970 21:48 THE DAY CORPORATIONS WALKED IN TO CONGRESS On the first day of Congress in January 1971, for the first time in history, corporate interests were invited inside committees. 26:39 TRANSPARENCY CORRUPTS FROM THE OUTSIDE Transparency empowers all outsiders from special interest groups to the President. 28:06 ACCOUNTABILITY BENEFITS POWER 32:49 TRANSPARENCY CORRUPTS FROM THE INSIDE Transparency upends the dynamics within the chamber as well. Because of this, it appears that even if all outside special interests were removed, vast amounts of corruption would continue. This includes 1. Torpedo Amendments 2. Party Leader Pressures 3. The End of Negotiation and 4. Evisceration of the Committee of the Whole ============================================ SUMMARY Several important steps toward legislative transparency in the 1970s have fundamentally altered how the U.S. Congress and state legislatures operate. Some of these reforms, like mandating recorded votes in the Committee of the Whole and opening up Conference Committees to public view, were widely supported in the wake of the escalation of the Vietnam war. Congressional reforms were quickly mirrored in other legislatures. We explore the origins of these reforms, highlighting the 1970 Legislative Reorganization Act. Key reforms were inserted by lobbyists seeking to more efficiently monitor the behavior of legislators. Representatives adjusted by changing their behavior on votes in the Committee of the Whole, which soon became a contentious proving ground for ideological purity and fidelity to special interests and party leadership. We elaborate on theories of representation to understand how behaviors change when different types of monitoring are in place. Consistent with the theory, increases in transparency were followed by increased narrow-interest lobbying, wasteful and pernicious legislative gamesmanship, increased partisanship, and more. And we investigate these changes as likely drivers for income inequality, climate change, gridlock and demosclerosis. Finally, we call attention to specific new reforms that could reestablish deliberative spaces for legislators. Importantly, there appears to be little or no evidence to suggest that these assumptions are not true. There is almost no literature or research to support the moves to increased transparency.
Views: 5453 CRI
The Intimidation Oversight - How the NRA Benefits off of Transparency
 
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Here’s a simple thought. What if the political influence of intimidation is much much greater than that of bribery? In other words, what if campaign finance and cash injections aren’t nearly as powerful as the ability organizations have to scare legislators? This might be obvious to some, but the trouble is almost all the groups looking at stopping corruption in Congress have all but ignored intimidation (wolfpac, mayday, represent, lessig, teachout, etc). So if intimidation is more influential than bribery, is it possible that their proposed solutions could make matters worse? That's one of the arguments of this video. But for a quick synopsis of the discussion read further.... Intimidation is Worse than Bribery Let's highlight by way of example: Many will likely remember the National Rifle Association's excessively harsh response to Senator Joe Manchin after the Sandy Hook tragedy. Troubled by the deaths of so many children, Manchin decided to work on gun legislation. But, when he did, the NRA went after him with a force that nearly crushed him. The attack ads were extreme. But, importantly, the commercials didn’t just influence Manchin. Just months later dozens of senators or representatives were suddenly terrified to vote against the NRA on even no-brainer type legislation. With one Machiavelli-style hanging, the NRA managed to scare dozens or hundreds of legislators. They achieved massive political influence without a single penny switching hands, indeed without bribing or supporting anyone. Intimidation is like a shotgun. It is cheap, messy and indiscriminate. Bribery is not. A secret ballot would, of course, eliminate this intimidation completely. Yet, while fearless legislators would likely produce substantially different legislation, there’s an even more important corollary. Would the NRA be as likely to attack a congressperson if they knew that Congress might band together and lash back at the evil NRA? Unlikely. The NRA’s ability to count coup (see the votes of individual congressmen) makes attack ads much more powerful, and Congress’ transparency neuters their defense. Okay, this is fairly obvious right? We’ve all seen this intimidation stuff. Well before we dismiss this as a minor realization, we have to look at how completely this concept has been left out of the high level policy discussions. In Zephyr Teachout’s 2014 book “Corruption in America”, she mentions the term ‘bribe’ or ‘bribery’ well over 200 times, while references to ‘intimidation’ appear on only two pages (both in the second half of the book). Lawrence Lessig’s “Republic Lost” is another enormously important book on the subject of congressional reform, and he makes 46 references to the word bribe and zero references to intimidation. That’s right he doesn’t address it at all. These are some of the most influential books on the subject. But it doesn’t end there. Similar percentages are seen in nearly every book that aims to fix Congress. This is an egregious oversight, with powerful implications. I’d suggest that the influential attack ads have increased over the last few decades exponentially, and that these types of attacks are a form of voter intimidation. And they are just one of many ways congressmen have been intimidated since the passing of the 1970 LRA. Numerous scholars, reporters, economists and organizations have set themselves to the task of fixing Congress. Trouble is most of them have ignored one of the most powerful corrupting forces...intimidation. Is it because intimidation does not fit their solution? ===== For much more on this topic see our website https://www.congressionalresearch.org Here are citations from over a hundred scholars who find similar problems with transparency http://congressionalresearch.org/Citations.html Here is a good first page for information on transparency http://congressionalresearch.org/SevenDeadlyMyths.html UPDATE (2017) Since posting this video James has partnered with Harvard Professor of Congress David King and author Brent Ranalli to further investigate this problem of transparency. The results are even more striking and powerful than initially proposed in this video. Follow James on Twitter @JamesGDAngelo
Views: 20402 CRI
Bitcoin 101 - A Free Market for Transparency (The Bitcoin Revolution)
 
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Anonymity is great. And Bitcoin provides anonymous payments better than anything we've seen online. But what few realize is that Bitcoin also does transparency, and it does transparency better than anything we've ever seen in human history. This transparency is the focus of this first video looking at bitcoin as a revolution. Because bitcoin is the first ever tool (in human history) that can provide provable transparency, we could finally see transparency explode via the free market (competitive edges given to those who disclose). This one simple change seems innocuous but it could have major repercussions. Intro: When people talk about bitcoin, they talk about a revolution. The trouble is, many people can't even figure out what the revolution is. Is it really a revolution to have lower fees on credit cards and remittances? While these are big changes, they are hardly revolutionary. This series begins to look at the bigger picture, the jaw dropping changes that bitcoin could provide. And no future may be stranger or more earth shattering than the inherent capabilities of bitcoin to provide a free market for transparency. And this isn't transparency like we are used to, this is the possibility of absolute financial transparency. Not only would it eliminate the need for the IRS, but it stands to erase corruption and improve government. Amazing stuff. Hope you enjoy. Welcom to WBN's Bitcoin 101 Blackboard Series -- a full beginner to expert course in bitcoin. We hope you enjoy. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Thanks, WBN
Views: 8151 CRI
Introducing Sno-Caps - The People's Cap-And-Trade (2014 MIT Award Winner)
 
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Sno-caps is a brand new idea (and current winner of the 2014 MIT Climate CoLab Contest - see link below) presented here for the first time. It is a system that combines Regulation by Reputation (i.e. ebay, uber, yelp) with Bitcoin's public ledger (accounting and smart contracts) to fight global climate change. Here is the elevator pitch: Using public ledgers we can launch a global cap-and-trade today that sidesteps government and gives equal shares to everyone on earth. While the idea is relatively simple (especially compared to all other cap-and-trade systems), it only makes sense with the proper context. That is the goal of this video, to present the viewer with all the necessary understanding (Tragedy of the Commons, failing of current Cap-And-Trade schemes) to understand the scope of this idea. We hope you'll agree that there is a better way. Here is the link to our MIT Climate CoLab proposal. http://climatecolab.org/plans/-/plans/contestId/1300404/planId/1305801 Please consider commenting on this forum and showing your support here. Even though we are a late entry, we are currently number two in the rankings. When the MIT contest ends (link above) we will launch our site at www.snocaps.org Below is the link to our white paper http://www.worldbitcoinnetwork.com/snocaps.pdf While comments etc on the MIT contest are the best, donations are also much appreciated: https://blockchain.info/address/1javsf8GNsudLaDue3dXkKzjtGM8NagQe WBN's Bitcoin 101 Blackboard Series is a full beginner to expert course in Bitcoin, brought to you by host, James D'Angelo.
Views: 36990 CRI
Bitcoin Nodes vs. Noses - An Axiom For Discussing Bitcoin's Scaling & Centralization Problem
 
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The block-size debate is a proxy war between centralization and anonymity. This needs to be solved before we end up with something worse than MasterCard. The good news (or great news) is that adding identity to mining can allow Bitcoin to scale almost infinitely, immediately. James spoke about this at the MIT conference on Scaling in 2016, so watch this talk for more information: https://www.youtube.com/watch?v=UVuUZm4l-ss&feature=youtu.be&t=31m04s He also did a full length interview on this topic with the guys at Epicenter Bitcoin https://www.youtube.com/watch?v=_RC8wEL2r9s These ideas were built in collaboration with Conner Davidson, and as a result I have named the resulting democratic consensus algorithm the Conner Consensus. Follow me on Twitter @JamesGDAngelo
Views: 23323 CRI