By Nick Myers
One of the things that has occurred to me lately is that when I bought my first crypto-currency, I didn't really know what it was. A couple of months on and now I see the concept of crypto-currencies as an alluring box of infinite possibilities. Most amazing of all, I now think that within this infinity of possibilities there may just be something approaching perfection. Which is mad. I mean, perfection. That's a joke. Right?
Here's another joke: You pay for something and the vendor asks, "How would you like the change, sir?"
Your reply, "Three breaking headlines from Lets talk Bitcoin, a Gnostic Media podcast and the latest Scott Horton Show, please." You read the stories over a coffee. Then on the way home, after listening to the media content, you spend the remaining "change" at the gas station filling up your car for the week ahead. The sales assistant at the gas station can save the stories, or wipe the coins ready for the next customer's preferences. Perfection? Maybe not, but it's pretty darn close - don't ya think?
You may have guessed that I'm enjoying this journey on the Blockchain. In all honesty though, my only qualification is curiosity. In game talk I'm still a Noob. So I thought, rather than sounding like I know it all, it might be more useful to share the sources of information that are feeding my interest in order that you can draw knowledge, inspiration and perhaps gain useful insights without my preconceptions clouding your judgement.
I listen to a lot of podcasts. My daily commute provides me with two 40 minute windows during which I can easily access information from the wider world.
The first time I heard about crypto-currencies was on Follow The Money Weekly (FTM). FTM is a general financial podcast thanks to which I have become attuned to my own financial well-being. In one episode the host, Jerry Robinson, suggested listeners take a look at Ripple, not so much as an investment, but using the experience of purchasing some as a gateway to learning. Ripple was my first crypto purchase and the start of my blockchain journey.
Secondly, and of much greater relevance to the Crypto-scene, I was over the moon when I saw a download from the amazingly excellent Gnostic Media podcast entitled, "Mad Bitcoins," an interview with Thomas Hunt that arrived on my device on March 7th 2014. This was followed a few days later by, "Bitcoin and Metacoin - The New Frontier" an interview with Adam B. Levine of Let’s Talk Bitcoin!
Gnostic Media is a fabulous source of information. The host Jan Irvin is, simply, brilliant. He has published a couple of other interviews lately, which I also recommend, but those two listed above are surely required listening for anyone who has an interest in crypto-currencies.
Following the Gnostic Media interviews I followed up both Hunt and Levine and now subscribe to both of their iTunes podcasts. In particular, via Lets Talk Bitcoin I have come to enjoy "Bitcoins and Gravy." The hosts, John Barrett and Lij Shaw, have a superb rapport and their enthusiasm is infectious.
Anyway, now that I understand a bit more about this technology I have an idea I want to share. Information is currency, right? So let's have a meta coin, or use a meta coin's functionality to develop a Decentralised Autonomous Company (DAC) that can share information, by which I mean news stories. Let's say you can encode a stories into coins, which the carrier can read until he or she chooses to spend them. When the coins are exchanged the original reporter gets a Satoshi's worth back. Equally, when someone finds the story meaningful they could send it on to someone else (6 degrees of separation, right). Every time a story is forwarded the reward is automagically adjusted. It could be taken one step further, and if a story hasn't run its course, people could pledge Satoshis' worths as a bounty or advanced payment, to fund reporters' investigations. I'd like to think of this as Information Coin, but it could honour someone and be, say, DrudgeCoin.
Our news would flow through our money thereby heightening the quality of mercantile exchanges. What's more, if there was a story somebody wanted to suppress, they'd have to buy all the coins, or hard-fork, which would require consensus. Even better, what if the coin informed you that a restaurant business always withheld 5% of news, specifically those relating to medical reports - would you eat there? Anyway, you get the idea.
I have also learned that I could encode this article into a coin and therefore have proof of my original concept. But why? All I would be doing is letting my ego get in the way. So I don't want to own this idea, but if I saw it on an exchange you can bet your bottom dollar I'd be an early adopter. Therefore, my investment strategy is to look for coins that offer some serious functionality.
In summary, if you follow up the above info sources you will be digesting much the same information as I do. So what are you waiting for?The world awaits your insights.