 This is an unprepared talk. I have no slides Google image search will do the job Does anyone here know what Bitcoin is? You're all technical, so I don't have to explain it Maybe I do a little bit who really knows what Bitcoin is who thinks they know everything about it someone in the red Anyway, so basically it's money on the internet Digital form of money so that you don't have to use your dollars or pounds or any of that old-fashioned note stuff and coins And that's what everyone thinks it is, but I'm here to tell you it's not what it really is is a fantastic way to lose all your money We'll do that it's a thieving bastards. Um, I've lost quite a lot to thieving bastards I think in one instance. I lost seventy five thousand dollars another one forty thousand dollars another one about seventy thousand dollars again Friends of mine lost about half million dollars two friends of mine lost about half million dollars client of mine's lost over a million dollars It's a brilliant way to lose money to be fair. None of us. Well, none of us put that much in we've put, you know Yeah, reasonable amount, but nowhere near that much and we still have more left But it's not a particularly good advert for the money that everyone wants us to use More importantly Bitcoin is not just a fantastic way to lose money. It's a way to really piss off the government They don't like us using Bitcoin either and so you get arrested What's that? Seriously Evil Elmo if they arrest evil Elmo, he probably used Bitcoin probably bought drugs on the Silk Road. That's what I reckon There is a more seriously Most people have heard of Bitcoin you're taking so you do know what it is But actually most people still think it's just a way to use money on the internet And I kind of want you to know because most of you make cool stuff much cooler than I do I make games But I don't play with gadgets and things like I can't dance. I mean, like I'm not even gonna try and dance. I'm not called Jeff I'm sorry There's probably more Alex isn't there any Alex is in the room Yes My name is Alex. Welcome to my social network Bitcoin's also a technology and that's really really important because if you're making stuff It's gonna actually be useful in the future if your stuff can communicate with other things and actually send them Not just money, but maybe a key So it could be a key to open your fridge just slightly esoteric kind of idea More importantly, it could be the key to open a car or a safe Bitcoin can actually act as that key and you can send it to people without anyone getting in the way without anyone cloning it Will anyone doing anything? Obscure to it. It's a completely a unique way to be able to transfer something on the internet in a way that no one can copy it Unlike an mp3 which we all download and share all the time. I'm sure Look for another one remember that It's a crime Don't pirate MP3's just because I do don't copy me So Bitcoin can Bitcoin can actually it's not gonna stop piracy I think actually you're just gonna pay for your pirated software and pirated films with Bitcoin But if you're actually making stuff you can transfer unique tokens, which can be keys and that it's a slightly odd thing But because no one's ever had this opportunity before It's gonna be interesting to see what people come up with and I'm going to give you an example All those is related to money and I'm going to rate it to Jeff and I'm sorry Bitcoin allows me to play with money in ways that no one ever be able to ever play with it before and I can Actually have a computer send money around and restrict money and control it now Jeff mentioned using Kickstarter To raise money to what go to San Francisco and have a holiday go travel the mountains with Alex I don't know The problem is if I fund Jeff because I think Jeff's a cool guy It may be I'm called Jeff myself and I want this social network. How do I know Jeff's actually not just gonna go for a nice holiday I don't know. He's really going to do it. If you have your Kickstarter campaign right now I'll give you my $20. That's better than the $70,000. I lost in Bitcoin to be fair. I'll give you my money But how do I know you're going to use it properly? I Don't you could be anyone you might not even be called Jeff for all I know You've got evidence passport Seriously like Okay, so but what you can do with the new with new forms of crowdfunding is if you don't use Kickstarter But say a new site which some of us might be working on You could raise your $20,000 on there to get your little Documentary to go to San Francisco and so on but instead of you just been given all the money and left to your own devices We can restrict you so you will then get raise your $20,000 from people like me and other Jeff's in the world and maybe a few Alex's And then you have to ask permission to use it So you can say I want to go on a flight to San Francisco because I'm going to meet Jeff I'm gonna stay with Alex, but that's fine. I'm gonna meet Jeff and Then we actually have to go as the people who crowdfunded you we have to say yes We believe you're going to go to San Francisco go buy your ticket and when you get there Let's say you want to hire a film crew And you say that's going to cost $10,000. What if we don't believe you? We can go no, you're not having that $10,000. In fact, we don't believe you at all We're just gonna have all our money back and we can just press the big red button pull it all back and that's That allows crowdfunded projects to actually have an element of control from the funders Instead of the fundee just being able to run away with all the money now You can't do that on Kickstarter. You can't do it in Indiegogo You can't do it using any traditional crowdfunding system And it's the technology that Bitcoin allows that lets us write programs to allow this sort of novel innovation to happen That's sort of a project that I'm kind of working on That's it really I just want you to kind of understand that Bitcoin is a lot more than just this money You can send around to and buy drugs with and I'm going to end on that lots of drugs lots of drugs next Any questions Bitcoin is safe But using an online exchange run by thief is not Sorry, did I say that? Using an online exchange running by someone who is inappropriate and actually just not very good at their job and likes cats a lot That doesn't work either Any other questions? I lost the money in Gox, but I knew what I was doing. I took a risk on something lost money and some investments and Some hacks that were not not of my doing But you live and learn it's very it's always been very difficult to secure that is now changing Bitcoin network itself is actually very very safe But it's just the way that Bitcoin was has been used has been very very poor and now we're going through a year of infrastructure change So this time next year Bitcoin itself will be so much easier to use for everyone to secure and Should also be a bit more stable value wise. I hope that we shall see it's probably five It's five to ten years and being mainstream and there's a lot more Development to go on Bitcoin and Bitcoin like technologies It's eventually going to lead to Skynet by the way You think I'm joking, but it's really not The Bitcoin 2.0 technologies actually will allow you to run Turing complete programs In the cloud essentially they cannot be stopped and I mean that they cannot be stopped They can spend money they can issue commands. They cannot be stopped. This is happening sorry Guy mentioned Applications with 3d printers. Yes, people are going to hook all sorts things together. Oh Self-replication with 3d printers. So so basically Bitcoin is essentially going to enable robots to Control the world replicate themselves murderous all in our sleep That's all right because Jeff's going to save us Any other questions, right next