Bitcoin - Introduction & New Developments...

Pleases RSVP at HacDC's Meetup announcement: https://www.meetup.com/preview/hac-dc/events/243625611

Richard Weston will come give us an introduction to cryptocurrencies, specifically Bitcoin, and answer questions about recent developments. We'll go over the basics of what Bitcoin (for example) is and address basic questions like "Can't you copy & paste digital currency?" and "is Bitcoin anonymous?" for newcomers and get into more advanced (controversial?) questions like,

• How long are BTC transactions taking to settle now? How high are the fees?

• Why did Bitcoin split into Bitcoin Classic and Bitcoin Cash? Is another split coming?

• How can both versions coexist and have more value than before, and how is double-spending prevented when there are two versions of the blockchain?

• How is bitcoin adoption dealing with the split? Where can you spend BTC/BCH? Is it becoming the currency of Ransomware?

• Who makes decisions in the bitcoin community? How much control or influence do governments have over the bitcoin network (e.g. US, China)?

• How is bitcoin treated for income tax purposes, how do you declare it?

•Should financial institutions that provide Bitcoin services be regulated just as fiat currency financial institutions are? (Know-Your-Customer, FDIC insurance, security regulations, etc)? Are financial sanctions against belligerent regimes / terrorist groups / drug traffickers enforceable with Bitcoin vs fiat currencies?

• Why are major banks dabbling in blockchain technology? Who will control their blockchain(s) and how will they be rewarded for maintaining it?

• Other cryptocurrencies: What's their proof-of-work? Why can't it be something useful and not just difficult? What the heck is Ethereum?

Speaker bio: Richard Weston is the Co-Organizer of the DC Blockchain Users Group since 2011 when it was called the Washington DC Bitcoin Users Group. From 2012 to 2015 he was one of the largest Bitcoin direct sellers in the DC metro area. An avid supporter and user of cryptography, Richard became involved in Bitcoin in early 2011 and has helped many people learn how to use and safely store bitcoins.

This is a free, bring-your-own-beer kind of event.