How about a distributed exchange that even your grandmother can use?

DEX is the first truly Distributed Exchange system

DEX is the first truly Distributed Exchange system

Peer to peer, distributed exchanges are possibly the most popular topic right now in the bitcoin community. Everyone holding a single bitcent or more seems to be so angry at the bottleneck caused by the exchanges that they’ve all decided to start their own distributed version.

I’ve literally counted dozens of attempts that they have started working on; and a few like BMOT and Metalair and even (uggh) Ripple have gotten some funding!

Well, not to be outdone, I’ve made my own whitepaper for a Distributed Exchange too:

DEX Whitepaper – 22 pages .pdf format

What’s so special about DEX?

It gives everyone a financial incentive to download it and keep the software running. Continue reading

How about a P2P Facebook replacement that only uses Bitcoin?

Now's the time to Replace Facebook with a P2P, private, bitcoin-taking program!

Now’s the time to replace Facebook with a distributed, private, bitcoin-taking program!

This peer-to-peer project might not net the owner too much money since it’s goal is to be completely distributed, open sourced, and community controlled, but perhaps something like a few dedicated advertising spots on the front of the site for the originator could make you rich if this thing actually gets close to replacing facebook one day.

Think of this as a free software program that contains a website-like system very much like facebook… It has all the profiles, walls, something like tweets, communications, advertising, even games ported in, everything at all that can be duplicated from social sites onto a completely distributed software platform.

Why would this be so awesome? Because people are PISSED right now about the privacy issues with facebook; Now more than ever after the PRISM leak! They also have never been happy about the advertising situation there, which is a negative this system can turn into a positive.

Facebook’s user stats are in freefall right now. It’s the perfect time to make a competitor to facebook that has absolutely no one running the show, nor any way whatsoever for the NSA/DHS/FBI/white house to get access to people’s personal information there!

Where to store all that data? Why not mega? It’s distributed too, and these content pages could be individualized and small. Each client could then keep a backup of that user’s content locally, but the live version would be served from a mega host for speed and great uptime. Continue reading

How about a Bitcoin Biz Trustmark Service?

A Bitcoin Trustmark Service is just what bitcoin needs to develop legitimacy among merchants.

A Bitcoin Trustmark Service is just what bitcoin needs to develop legitimacy among merchants.

I’m starting a new trend here on this blog today, one of shorter posts with more value added. Instead of me writing some more opinions of what’s happening in the bitcoinoshpere as usual, I’ve decided to use this blog to start handing out great ideas that will truly help the bitcoin community as a whole.

Most of these ideas will be business ideas, where you can take it and run with the idea and make your fortune, and have no need whatsoever to recompense or even credit me in any way for the idea. Many others will be P2P distributed services, that might not make the programmers/initiators much/any money, but will definitely go a long way towards supporting bitcoin.

I’m giving these Ideas away because I already started working on the one I want to work on, so these are all my overflow… Stuff I’d do if I could, but can’t, so they’re yours. So take it and make it great if you have the skills; and if not… Do you know someone with the skills to make this happen? If so, I’d appreciate it if you’d to tell them about it.

The first of this series is a Trustmark service, which can both help Bitcoin grow, and make the business owner a load of money. Continue reading

Bitcoin Reaches Critical Mass

Must... Not... spend... Rent Money... on Moar Bitcoins!

Must… Not… Spend… Rent money… On Moar Bitcoins!

I’m hearing so much good news about the growth & future of Bitcoin these last few weeks that I’m fully convinced that bitcoin has reached the critical mass it takes to ensure success. The mind boggles at how much good news is churning out each day in fact and how this news is going to effect the price of bitcoin… But then I start to wonder, why hasn’t the upward surge started yet?

The answer must be that only hardcore bitcoiners are hearing this stuff so far… The mainstream public is still trying to just wrap their heads around what bitcoin is, and frankly just isn’t ready to understand  the significance of all these investments, laws, new services, and new vendors. That, and I probably don’t speak the language where most of the bitcoin news is being reported. Continue reading

The Futility of a 51 Percent Attack

Bitcoin is more invincible than most people would believe.

Bitcoin is more invincible than most people would first think.

Barring a worldwide lack of interest in either money or the internet, there are exactly three ways to kill Bitcoin, at least in theory. They are:

1.) To destroy all of humanity… Which I doubt needs any explanation.

2.) To use massive Electromagnetic Pulse (EMP) attacks against all civilized pockets of humanity, ensuring no line of communication survives. (A nuke detonated high above every city over 1,000 ppl in size worldwide should do the trick.)

3.) To employ a well timed 51% attack… But I’d like to bring up the argument here that this option really won’t work afterall. Continue reading

Alt Coins – What are they good for?

Bitcoin and Litecoin are the two major cryptocoins traded today

Bitcoin and Litecoin are the two largest cryptocoins traded today. If Bitcoin ever was fatally attacked, Litecoin could easily replace it.

Now that Bitcoin has stabilized above $100 for a while, and the world’s press is sending out a steady stream of info (or disinfo) on the subject of cryptocoins, I’m getting bombarded with questions about the alt-coins, such as Litecoin, PPCoin, Novacoin, Namecoin & even Ripple. “Alt coins” is a term used to describe all of the cryptocurrencies that aren’t the dominant cryptocurrency at the time. (e.g. Not bitcoin.)

Alt coins have all branched out from bitcoin, started in it’s wake, and each and every one of them excepting only Ripple are based on the same decentralized, peer-to-peer architecture that requires a miner crunching cryptography and user wallets to function. Yes, they are all worth dollars in trade on some exchange somewhere right now as I write this, and all have their own developer community and hopeful users like bitcoin does. (Only much smaller, with extremely little, if any, merchant adoption.)

Why are people putting time and money into alt coins? It is assumed by the developers that one day a major government or at least the Mexican drug cartels will have a reason to try to “take out” bitcoin. Although its peer-to-peer behavior should be adequate at stopping these threats, nobody knows what the future holds, and the fate of our very economy is at stake here… So litecoin (LTC) was the first created to be a sort of “understudy” or backup for bitcoin. It has it’s own wallet, mining software and blockchain. Although it was the 2nd alt coin created, it has almost always been the most traded of the group, worth about 2.5% what a bitcoin is worth.

For an updated listing of all cryptocurrencies, with descriptions, see here. Continue reading

Foodler now accepts Bitcoin!

Foodler wins the race as first large-scale restaurant service to take Bitcoin

Foodler wins the race as first large-scale restaurant service to take Bitcoin

I’m an android guy myself, and can’t get the Foodler app on my phone, (for now at least) but on iPhones, Foodler is king for restaurant delivery orders.

I just browsed their website and saw an extremely impressive array of restaurants across the united states, all set up to take orders directly through this app or their website. They have many payment options too, including their own “Foodler credits” which appear to be US Dollars just like paypal.

However, with today’s announcement, Foodler wins the long-standing contest in many people’s minds to become the first major food retailer to offer meals for bitcoin. For years there have been many single restaurateurs like local mom-and-pop shops to accept bitcoin in their one location, but no one can live off of one single restaurant alone. Continue reading