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Meet Brock Pierce, the Presidential Candidate With Ties to Pedophiles Who Wants to End Human Trafficking
thedailybeast.com | Sep. 20, 2020. The “Mighty Ducks” actor is running for president. He clears the air (sort of) to Tarpley Hitt about his ties to Jeffrey Epstein and more. In the trailer for First Kid, the forgettable 1996 comedy about a Secret Service agent assigned to protect the president’s son, the title character, played by a teenage Brock Pierce, describes himself as “definitely the most powerful kid in the universe.” Now, the former child star is running to be the most powerful man in the world, as an Independent candidate for President of the United States. Before First Kid, the Minnesota-born actor secured roles in a series of PG-rated comedies, playing a young Emilio Estevez in The Mighty Ducks, before graduating to smaller parts in movies like Problem Child 3: Junior in Love. When his screen time shrunk, Pierce retired from acting for a real executive role: co-founding the video production start-up Digital Entertainment Network (DEN) alongside businessman Marc Collins-Rector. At age 17, Pierce served as its vice president, taking in a base salary of $250,000. DEN became “the poster child for dot-com excesses,” raising more than $60 million in seed investments and plotting a $75 million IPO. But it turned into a shorthand for something else when, in October of 1999, the three co-founders suddenly resigned. That month, a New Jersey man filed a lawsuit alleging Collins-Rector had molested him for three years beginning when he was 13 years old. The following summer, three teens filed a sexual-abuse lawsuit against Pierce, Collins-Rector, and their third co-founder, Chad Shackley. The plaintiffs later dropped their case against Pierce (he made a payment of $21,600 to one of their lawyers) and Shackley. But after a federal grand jury indicted Collins-Rector on criminal charges in 2000, the DEN founders left the country. When Interpol arrested them in 2002, they said they had confiscated “guns, machetes, and child pornography” from the trio’s beach villa in Spain. While abroad, Pierce had pivoted to a new venture: Internet Gaming Entertainment, which sold virtual accessories in multiplayer online role-playing games to those desperate to pay, as one Wired reporter put it, “as much as $1,800 for an eight-piece suit of Skyshatter chain mail” rather than earn it in the games themselves. In 2005, a 25-year-old Pierce hired then-Goldman Sachs banker Steve Bannon—just before he would co-found Breitbart News. Two years later, after a World of Warcraft player sued the company for “diminishing” the fun of the game, Steve Bannon replaced Pierce as CEO. Collins-Rector eventually pleaded guilty to eight charges of child enticement and registered as a sex offender. In the years that followed, Pierce waded into the gonzo economy of cryptocurrencies, where he overlapped more than once with Jeffrey Epstein, and counseled him on crypto. In that world, he founded Tether, a cryptocurrency that bills itself as a “stablecoin,” because its value is allegedly tied to the U.S. dollar, and the blockchain software company Block.one. Like his earlier businesses, Pierce’s crypto projects see-sawed between massive investments and curious deals. When Block.one announced a smart contract software called EOS.IO, the company raised $4 billion almost overnight, setting an all-time record before the product even launched. The Securities and Exchange Commission later fined the company $24 million for violating federal securities law. After John Oliver mocked the ordeal, calling Pierce a “sleepy, creepy cowboy,” Block.one fired him. Tether, meanwhile, is currently under investigation by the New York Attorney General for possible fraud. On July 4, Pierce announced his candidacy for president. His campaign surrogates include a former Cambridge Analytica director and the singer Akon, who recently doubled down on developing an anonymously funded, $6 billion “Wakanda-like” metropolis in Senegal called Akon City. Pierce claims to be bipartisan, and from the 11 paragraphs on the “Policy” section of his website it can be hard to determine where he falls on the political spectrum. He supports legalizing marijuana and abolishing private prisons, but avoids the phrase “climate change.” He wants to end “human trafficking.” His proposal to end police brutality: body cams. His political contributions tell a more one-sided story. Pierce’s sole Democratic contribution went to the short-lived congressional run of crypto candidate Brian Forde. The rest went to Republican campaigns like Marco Rubio, Rick Perry, John McCain, and the National Right to Life Political Action Committee. Last year alone, Pierce gave over $44,000 to the Republican National Committee and more than $55,000 to Trump’s re-election fund. Pierce spoke to The Daily Beast from his tour bus and again over email. Those conversations have been combined and edited for clarity. You’re announcing your presidential candidacy somewhat late, and historically, third-party candidates haven’t had the best luck with the executive office. If you don’t have a strong path to the White House, what do you want out of the race? I announced on July 4, which I think is quite an auspicious date for an Independent candidate, hoping to bring independence to this country. There’s a lot of things that I can do. One is: I’m 39 years old. I turn 40 in November. So I’ve got time on my side. Whatever happens in this election cycle, I’m laying the groundwork for the future. The overall mission is to create a third major party—not another third party—a third major party in this country. I think that is what America needs most. George Washington in his closing address warned us about the threat of political parties. John Adams and the other founding fathers—their fear for our future was two political parties becoming dominant. And look at where we are. We were warned. I believe, having studied systems, any time you have a system of two, what happens is those two things come together, like magnets. They come into collision, or they become polarized and become completely divided. I think we need to rise above partisan politics and find a path forward together. As Albert Einstein is quoted—I’m not sure the line came from him, but he’s quoted in many places—he said that the definition of insanity is making the same mistake or doing the same thing over and over and over again, expecting a different result. [Ed. note: Einstein never said this.] It feels like that’s what our election cycle is like. Half the country feels like they won, half the country feels like they lost, at least if they voted or participated. Obviously, there’s another late-comer to the presidential race, and that’s Kanye West. He’s received a lot of flak for his candidacy, as he’s openly admitted to trying to siphon votes away from Joe Biden to ensure a Trump victory. Is that something you’re hoping to avoid or is that what you’re going for as well? Oh no. This is a very serious campaign. Our campaign is very serious. You’ll notice I don’t say anything negative about either of the two major political candidates, because I think that’s one of the problems with our political system, instead of people getting on stage, talking about their visionary ideas, inspiring people, informing and educating, talking about problems, mentioning problems, talking about solutions, constructive criticism. That’s why I refuse to run a negative campaign. I am definitely not a spoiler. I’m into data, right? I’m a technologist. I’ve got digital DNA. So does most of our campaign team. We’ve got our finger on the pulse. Most of my major Democratic contacts are really happy to see that we’re running in a red state like Wyoming. Kanye West’s home state is Wyoming. He’s not on the ballot in Wyoming I could say, in part, because he didn’t have Akon on his team. But I could also say that he probably didn’t want to be on the ballot in Wyoming because it’s a red state. He doesn’t want to take additional points in a state where he’s only running against Trump. But we’re on the ballot in Wyoming, and since we’re on the ballot in Wyoming I think it’s safe—more than safe, I think it’s evident—that we are not here to run as a spoiler for the benefit of Donald Trump. In running for president, you’ve opened yourself up to be scrutinized from every angle going back to the beginning of your career. I wanted to ask you about your time at the Digital Entertainment Network. Can you tell me a little bit about how you started there? You became a vice president as a teenager. What were your qualifications and what was your job exactly? Well, I was the co-founder. A lot of it was my idea. I had an idea that people would use the internet to watch videos, and we create content for the internet. The idea was basically YouTube and Hulu and Netflix. Anyone that was around in the ‘90s and has been around digital media since then, they all credit us as the creators of basically those ideas. I was just getting a message from the creator of The Vandals, the punk rock band, right before you called. He’s like, “Brock, looks like we’re going to get the Guinness Book of World Records for having created the first streaming television show.” We did a lot of that stuff. We had 30 television shows. We had the top most prestigious institutions in the world as investors. The biggest names. High-net-worth investors like Terry Semel, who’s chairman and CEO of Warner Brothers, and became the CEO of Yahoo. I did all sorts of things. I helped sell $150,000 worth of advertising contracts to the CEOs of Pepsi and everything else. I was the face of the company, meeting all the major banks and everything else, selling the vision of what the future was. You moved in with Marc Collins-Rector and Chad Shackley at a mansion in Encino. Was that the headquarters of the business? All start-ups, they normally start out in your home. Because it’s just you. The company was first started out of Marc’s house, and it was probably there for the first two or three months, before the company got an office. That’s, like, how it is for all start-ups. were later a co-defendant in the L.A. County case filed against Marc Collins-Rector for plying minors with alcohol and drugs, in order to facilitate sexual abuse. You were dropped from the case, but you settled with one of the men for $21,600. Can you explain that? Okay, well, first of all, that’s not accurate. Two of the plaintiffs in that case asked me if I would be a plaintiff. Because I refused to be a part of the lawsuit, they chose to include me to discredit me, to make their case stronger. They also went and offered 50 percent of what they got to the house management—they went around and offered money to anyone to participate in this. They needed people to corroborate their story. Eventually, because I refused to participate in the lawsuit, they named me. Subsequently, all three of the plaintiffs apologized to me, in front of audiences, in front of many people, saying Brock never did anything. They dismissed their cases. Remember, this is a civil thing. I’ve never been charged with a crime in my life. And the last plaintiff to have his case dismissed, he contacted his lawyer and said, “Dismiss this case against Brock. Brock never did anything. I just apologized. Dismiss his case.” And the lawyer said, “No. I won’t dismiss this case, I have all these out-of-pocket expenses, I refuse to file the paperwork unless you give me my out-of-pocket expenses.” And so the lawyer, I guess, had $21,000 in bills. So I paid his lawyer $21,000—not him, it was not a settlement. That was a payment to his lawyer for his out-of-pocket expenses. Out-of-pocket expenses so that he would file the paperwork to dismiss the case. You’ve said the cases were unfounded, and the plaintiffs eventually apologized. But your boss, Marc Collins-Rector later pleaded guilty to eight charges of child enticement and registered as a sex offender. Were you aware of his behavior? How do you square the fact that later allegations proved to be true, but these ones were not? Well, remember: I was 16 and 17 years old at the time? So, no. I don’t think Marc is the man they made him out to be. But Marc is not a person I would associate with today, and someone I haven’t associated with in a very long time. I was 16 and 17. I chose the wrong business partner. You live and you learn. You’ve pointed out that you were underage when most of these allegations were said to take place. Did you ever feel like you were coerced or in over your head while working at DEN? I mean, I was working 18 hours a day, doing things I’d never done before. It was business school. But I definitely learned a lot in building that company. We raised $88 million. We filed our [form] S-1 to go public. We were the hottest start-up in Los Angeles. In 2000, you left the country with Marc Collins-Rector. Why did you leave? How did you spend those two years abroad? I moved to Spain in 1999 for personal reasons. I spent those two years in Europe working on developing my businesses. Interpol found you in 2002. The house where you were staying reportedly contained guns, machetes, and child pornography. Whose guns and child porn were those? Were you aware they were in the house, and how did those get there? My lawyers have addressed this in 32 pages of documentation showing a complete absence of wrongdoing. Please refer to my webpage for more information. [Ed. Note: The webpage does not mention guns, machetes, or child pornography. It does state:“It is true that when the local police arrested Collins-Rector in Spain in 2002 on an international warrant, Mr. Pierce was also taken into custody, but so was everyone at Collins-Rector’s house in Spain; and it is equally clear that Brock was promptly released, and no charges of any kind were ever filed against Brock concerning this matter.”] What do you make of the allegations against Bryan Singer?[Ed. Note: Bryan Singer, a close friend of Collins-Rector, invested at least $50,000 in DEN. In an Atlantic article outlining Singer’s history of alleged sexual assault and statutory rape, one source claimed that at age 15, Collins-Rector abused him and introduced him to Singer, who then assaulted him in the DEN headquarters.] I am aware of them and I support of all victims of sexual assault. I will let America’s justice system decide on Singer’s outcome.
In 2011, you spoke at the Mindshift conference supported by Jeffrey Epstein. At that point, he had already been convicted of soliciting prostitution from a minor. Why did you agree to speak? I had never heard of Jeffrey Epstein. His name was not on the website. I was asked to speak at a conference alongside Nobel Prize winners. It was not a cryptocurrency conference, it was filled with Nobel Prize winners. I was asked to speak alongside Nobel Prize winners on the future of money. I speak at conferences historically, two to three times a week. I was like, “Nobel Prize winners? Sounds great. I’ll happily talk about the future of money with them.” I had no idea who Jeffrey Epstein was. His name was not listed anywhere on the website. Had I known what I know now? I clearly would have never spoken there. But I spoke at a conference that he cosponsored. What’s your connection to the Clinton Global Initiative? Did you hear about it through Jeffrey Epstein? I joined the Clinton Global Initiative as a philanthropist in 2006 and was a member for one year. My involvement with the Initiative had no connection to Jeffrey Epstein whatsoever.
You’ve launched your campaign in Minnesota, where George Floyd was killed by a police officer. How do you feel about the civil uprising against police brutality? I’m from Minnesota. Born and raised. We just had a press conference there, announcing that we’re on the ballot. Former U.S. Senator Dean Barkley was there. So that tells you, when former U.S. Senators are endorsing the candidate, right? [Ed. note: Barkley was never elected to the United States Senate. In November of 2002, he was appointed by then Minnesota Governor Jesse Venture to fill the seat after Sen. Paul Wellstone died in a plane crash. Barkley’s term ended on Jan. 3, 2003—two months later.] Yes, George Floyd was murdered in Minneapolis. My vice-presidential running mate Karla Ballard and I, on our last trip to Minnesota together, went to visit the George Floyd Memorial. I believe in law and order. I believe that law and order is foundational to any functioning society. But there is no doubt in my mind that we need reform. These types of events—this is not an isolated incident. This has happened many times before. It’s time for change. We have a lot of detail around policy on this issue that we will be publishing next week. Not just high-level what we think, not just a summary, but detailed policy. You said that you support “law and order.” What does that mean? “Law and order” means creating a fair and just legal system where our number one priority is protecting the inalienable rights of “Life, Liberty and the pursuit of Happiness” for all people. This means reforming how our police intervene in emergency situations, abolishing private prisons that incentivize mass incarceration, and creating new educational and economic opportunities for our most vulnerable communities. I am dedicated to preventing crime by eliminating the socioeconomic conditions that encourage it. I support accountability and transparency in government and law enforcement. Some of the key policies I support are requiring body-cams on all law enforcement officers who engage with the public, curtailing the 1033 program that provides local law enforcement agencies with access to military equipment, and abolishing private prisons. Rather than simply defund the police, my administration will take a holistic approach to heal and unite America by ending mass incarceration, police brutality, and racial injustice. Did you attend any Black Lives Matter protests? I support all movements aimed at ending racial injustice and inequality. I have not attended any Black Lives Matter protests. My running-mate, Karla Ballard, attended the March on Washington in support of racial justice and equality. Your platform doesn’t mention the words “climate change.” Is there a reason for that? I’m not sure what you mean. Our policy platform specifically references human-caused climate change and we have a plan to restabilize the climate, address environmental degradation, and ensure environmental sustainability. [Ed. Note: As of writing the Pierce campaign’s policy platform does not specifically reference human-caused climate change.] You’ve recently brought on Akon as a campaign surrogate. How did that happen? Tell me about that. Akon and I have been friends for quite some time. I was one of the guys that taught him about Bitcoin. I helped make some videogames for him, I think in 2012. We were talking about Bitcoin, teaching him the ropes, back in 2013. And in 2014, we were both speaking at the Milken Global Conference, and I encouraged him to talk about how Bitcoin, Africa, changed the world. He became the biggest celebrity in the world, talking about Bitcoin at the time. I’m an adviser to his Akoin project, very interested in the work that he’s doing to build a city in Africa. I think we need a government that’s of, for, and by the people. Akon has huge political aspirations. He obviously was a hugely successful artist. But he also discovered artists like Lady Gaga. So not only is he, himself, a great artist, but he’s also a great identifier and builder of other artists. And he’s been a great businessman, philanthropist. He’s pushing the limits of what can be done. We’re like-minded individuals in that regard. I think he’ll be running for political office one day, because he sees what I see: that we need real change, and we need a government that is of, for, and by the people. You mentioned that you’re an adviser on Akoin. Do you have any financial investments in Akoin or Akon City? I don’t believe so. I’d have to check. I have so much stuff. But I don’t believe that I have any economic interests in his stuff. I’d have to verify that. We’ll get back to you. I don’t believe that I have any economic interests. My interest is in helping him. He’s a visionary with big ideas that wants to help things in the world. If I can be of assistance in helping him make the world a better place, I’m all for it. I’m not motivated by money. I’m not running for office because I’m motivated by power. I’m running for office because I’m deeply, deeply concerned about our collective future. You’ve said you’re running on a pro-technology platform. One week into your campaign last month, a New York appeals court approved the state Attorney General’s attempt to investigate the stablecoin Tether for potentially fraudulent activity. Do you think this will impact your ability to sell people on your tech entrepreneurship? No, I think my role in Tether is as awesome as it gets. It was my idea. I put it together. But I’ve had no involvement in the company since 2015. I gave all of my equity to the other shareholders. I’ve had zero involvement in the company for almost six years. It was just my idea. I put the initial team together. But I think Tether is one of the most important innovations in the world, certainly. The idea is, I digitized the U.S. dollar. I used technology to digitize currency—existing currency. The U.S. dollar in particular. It’s doing $10 trillion a year. Ten trillion dollars a year of transactional volume. It’s probably the most important innovation in currency since the advent of fiat money. The people that took on the business and ran the business in years to come, they’ve done things I’m not proud of. I’m not sure they’ve done anything criminal. But they certainly did things differently than I would do. But it’s like, you have kids, they turn 18, they go out into the world, and sometimes you’re proud of the things they do, and sometimes you shake your head and go, “Ugh, why did you do that?” I have zero concerns as it relates to me personally. I wish they made better decisions. What do you think the investigation will find? I have no idea. The problem that was raised is that there was a $5 million loan between two entities and whether or not they had the right to do that, did they disclose it correctly. There’s been no accusations of, like, embezzlement or anything that bad. [Ed. Note: The Attorney General’s press release on the investigation reads: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds.”] But there’s been some disclosure things, that is the issue. No one is making any outrageous claims that these are people that have done a bunch of bad—well, on the internet, the media has said that the people behind the business may have been manipulating the price of Bitcoin, but I don’t think that has anything to do with the New York investigation. Again, I’m so not involved, and so not at risk, that I’m not even up to speed on the details. [Ed note: A representative of the New York State Attorney General told Forbes that he “cannot confirm or deny that the investigation” includes Pierce.] We’ve recently witnessed the rise of QAnon, the conspiracy theory that Hollywood is an evil cabal of Satanic pedophiles and Trump is the person waging war on them. You mentioned human trafficking, which has become a cause for them. What are your thoughts on that? I’ve watched some of the content. I think it’s an interesting phenomenon. I’m an internet person, so Anonymous is obviously an organization that has been doing interesting stuff. It’s interesting. I don’t have a big—conspiracy theory stuff is—I guess I have a question for you: What do you think of all of it, since you’re the expert? You know, I think it’s not true, but I’m not running for president. I do wonder what this politician [Georgia congressional candidate Marjorie Taylor Greene], who’s just won her primary, is going to do on day one, once she finds out there’s no satanic cabal room. Wait, someone was running for office and won on a QAnon platform, saying that Hollywood did—say what? You’re the expert here. She won a primary. But I want to push on if we only have a few minutes. In 2006, your gaming company IGE brought on Steve Bannon as an investor. Goldman later bought out most of your stock. Bannon eventually replaced you as CEO of Affinity. You’ve described him as your “right-hand man for, like, seven years.” How well did you know Bannon during that time? Yes, so this is in my mid-twenties. He wasn’t an investor. He worked for me. He was my banker. He worked for me for three years as my yield guide. And then he was my CEO running the company for another four years. So I haven’t worked with Steve for a decade or so. We worked in videogame stuff and banking. He was at Goldman Sachs. He was not in the political area at the time. But he was a pretty successful banker. He set up Goldman Sachs Los Angeles. So for me, I’d say he did a pretty good job. During your business relationship, Steve Bannon founded Breitbart News, which has pretty consistently published racist material. How do you feel about Breitbart? I had no involvement with Breitbart News. As for how I feel about such material, I’m not pleased by any form of hate-mongering. I strongly support the equality of all Americans. Did you have qualms about Bannon’s role in the 2016 election? Bannon’s role in the Trump campaign got me to pay closer attention to what he was doing but that’s about it. Whenever you find out that one of your former employees has taken on a role like that, you pay attention. Bannon served on the board of Cambridge Analytica. A staffer on your campaign, Brittany Kaiser, also served as a business director for them. What are your thoughts on their use of illicitly-obtained Facebook data for campaign promotional material? Yes, so this will be the last question I can answer because I’ve got to be off for this 5:00 pm. But Brittany Kaiser is a friend of mine. She was the whistleblower of Cambridge Analytica. She came to me and said, “What do I do?” And I said, “Tell the truth. The truth will set you free.” [Ed. Note: Investigations in Cambridge Analytica took place as early as Nov. 2017, when a U.K. reporter at Channel 4 News recorded their CEO boasting about using “beautiful Ukranian girls” and offers of bribes to discredit political officials. The first whistleblower was Christopher Wylie, who disclosed a cache of documents to The Guardian, published on Mar. 17, 2018. Kaiser’s confession ran five days later, after the scandal made national news. Her association with Cambridge Analytica is not mentioned anywhere on Pierce’s campaign website.] So I’m glad that people—I’m a supporter of whistleblowers, people that see injustice in the world and something not right happening, and who put themselves in harm’s way to stand up for what they believe in. So I stand up for Brittany Kaiser. Who do you think [anonymous inventor of Bitcoin] Satoshi Nakamoto is? We all are Satoshi Nakamoto. You got married at Burning Man. Have you been attending virtual Burning Man? I’m running a presidential campaign. So, while I was there in spirit, unfortunately my schedule did not permit me to attend. OP note: please refer to the original article for reference links within text (as I've not added them here!)
A Chairman at World Economic Forumhttps://www.weforum.org/people/glenn-h-hutchins/https://archive.is/kubAYGlenn Hutchins is chairman of North Island and a co-founder of Silver Lake, the global leader in technology investing. He is a director of both AT&T and NASDAQ OMX; a director of the Federal Reserve Bank of New York; vice chairman of both the Brookings Institution and the Economic Club of New York; and a member of the Executive Committee of the New York Presbyterian Hospital. He is an owner and member of the Executive Committee of the Boston Celtics basketball team. Mr. Hutchins is a director of the Harvard Management Company, which is responsible for the Harvard University endowment, and co-chairman of the University’s capital campaign. He is also a board member of the Center for American Progress as well as a Fellow of the American Academy of Arts and Sciences. Previously, Mr. Hutchins served President Clinton in both the transition and the White House as a special advisor on economic and health-care policy. He was also previously chairman of the board of SunGard Data Systems, Inc. and Instinet, Inc. Mr. Hutchins and his wife, Debbie, founded the Hutchins Family Foundation which, among other projects, has created the Hutchins Center for African and African-American Research at Harvard University, which is chaired by Mr. Hutchins; the Hutchins Center on Fiscal and Monetary Policy at The Brookings Institution; and the Chronic Fatigue Initiative, which conducts basic research into the cause of chronic fatigue syndrome.
Advisory Board Larry Summers
Born in New Haven, Connecticut, Summers became a professor of economics at Harvard University in 1983. He left Harvard in 1991, working as the Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act.
Following the end of Clinton's term, Summers served as the 27th President of Harvard University from 2001 to 2006. Summers resigned as Harvard's president in the wake of a no-confidence vote by Harvard faculty, which resulted in large part from Summers's conflict with Cornel West, financial conflict of interest questions regarding his relationship with Andrei Shleifer, and a 2005 speech in which he suggested that the under-representation of women in science and engineering could be due to a "different availability of aptitude at the high end," and less to patterns of discrimination and socialization.
After his departure from Harvard, Summers worked as a managing partner at the hedge fund D. E. Shaw & Co., and as a freelance speaker at other financial institutions, including Goldman Sachs, JPMorgan Chase, Citigroup, Merrill Lynch and Lehman Brothers. Summers rejoined public service during the Obama administration, serving as the Director of the White House United States National Economic Council for President Barack Obama from January 2009 until November 2010, where he emerged as a key economic decision-maker in the Obama administration's response to the Great Recession. After his departure from the NEC in December 2010, Summers has worked in the private sector and as a columnist in major newspapers. In mid-2013, his name was widely floated as the potential successor to Ben Bernanke as the Chairman of the Federal Reserve, though after pushback from the left, Obama eventually nominated Federal Reserve Vice-Chairwoman Janet Yellen for the position.
DCG of course is an investor in both Blockstream and BTCC. DCG's money comes from:
Bain Capital Group
New York Life
Novel TMT Ventures
Solon Mack Capital
The Whittemore Collection
HCM International Co
DCG also owns Coindesk. BTCC and Bitfury are the only two large mining pools who are outspoken in their support of Bitcoin Core. The Bitfury Group Leadership to Present at Clinton Global Initiative (https://archive.is/MWKee) Full Video (Begins at 32:00) “The Bitfury Group is proud to be the world’s leading full service Blockchain technology company, we are deeply honored to represent this innovation to an audience of extremely dedicated game-changers, and we look forward to highlighting our company’s groundbreaking ‘Blockchain for global good’ work at such an important event, said Smith. “From the White House to the Blockchain, I know this technology has the power to deliver inclusion and opportunity to millions, if not billions, of people around the world and I am so grateful to work for a company focused on such a principled vision.” Bitfury Lightning Implementation
ACINQ’s US Headquarters is in Vienna, Virginia, a small town of only 16,000. Why would a global financial firm choose to locate here? -- Feeder community into Washington, D.C. Has an orange line metro stop. -- Located in Fairfax County, VA. -- The US Federal Government is the #2 largest employer -- Booz Allen Hamilton (NSA front company) is #6 largest employer -- In fact, most of the top employers in Fairfax County are either US Federal Gov’t or companies that provide services to Federal Government -- The county is home to the headquarters of intelligence agencies such as the Central Intelligence Agency, National Geospatial-Intelligence Agency, and National Reconnaissance Office, as well as the National Counterterrorism Center and Office of the Director of National Intelligence.
Chairman: Avinash Vashistha
Former Chairman and CEO of Accenture in India
He has worked with numerous clients in Banking, Investment and Financial services - General Atlantic, Goldman Sachs, Warbug Pincus, JP Morgan Chase, Visa, Citi Ventures, Baird Capital, Norges Bank, UBS, AXA and has advised World Bank, IDB, ADB, USAID and other multi-lateral agencies over the last 20 years on country strategy and investments across Asia and Latin America.
From 1986-1993 he worked for Information Management Consultants (imc) Ltd as a Technical Consultant with various federal government agencies. McLean, Virginia
1993-2000 Technical Consultant for Freddie Mac, in McLean Virginia
From 2000-2007, President of InterPro Global in Maryland
From 2011-2012, Director of VibbleTV in Columbia, Maryland
From 2008-Present has been Executive Director at ACINQ and Managing Partner at Vine Management, both in Vienna, Virginia.
BitFury Enhances Its Advisory Board by Adding Former CFTC Chairman Dr. James Newsome and Renowned Global Thought Leader and President of the Institute for Liberty and Democracy Hernando de Soto (Businesswire) Bitfury Board of Directors Robert R Dykes
Former CFO at Juniper Networks from 2005-2007, which had an NSA backdoor added to router software.
Greg Maxwell spent “several years at Mozilla”, leaving in August 2014
The other board members include two Bitfury founders, and an investor. Bitfury Advisory Board James Newsome
Ex-chairman of CFTC
Dr. Newsome was nominated by President Clinton and confirmed by the Senate to be at first a Commissioner and later a Chairman of CFTC. As Chairman, Newsome guided the regulation of the nation’s futures markets. Additionally, Newsome led the CFTC’s regulatory implementation of the Commodity Futures Modernization Act of 2000 (CFMA). He also served as one of four members of the President’s Working Group for Financial Markets, along with the Secretary of the Treasury and the Chairmen of the Federal Reserve and the SEC. In 2004, Newsome assumed the role of President and Chief Executive Officer of the New York Mercantile Exchange (NYMEX) where he managed daily operations of the largest physical derivatives exchange in the world. Dr. Newsome is presently a founding partner of Delta Strategy Group, a full-service government affairs firm based in Washington, DC.
Hernando de Soto
Hernando de Soto heads the Institute for Liberty and Democracy, named by The Economist one of the two most important think tanks in the world. In the last 30 years, he and his colleagues at the ILD have been involved in designing and implementing legal reform programs to empower the poor in Africa, Asia, Latin America, the Middle East, and former Soviet nations by granting them access to the same property and business rights that the majority of people in developed countries have through the institutions and tools needed to exercise those rights and freedoms. Mr. de Soto also co-chaired with former US Secretary of State Madeleine Albright the Commission on Legal Empowerment of the Poor, and currently serves as honorary co-chair on various boards and organizations, including the World Justice Project. He is the author of “The Other Path: the Economic Answer to Terrorism”, and his seminal work “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”
Criticisms: -- In his 'Planet of Slums' Mike Davis argues that de Soto, who Davis calls 'the global guru of neo-liberal populism', is essentially promoting what the statist left in South America and India has always promoted—individual land titling. Davis argues that titling is the incorporation into the formal economy of cities, which benefits more wealthy squatters but is disastrous for poorer squatters, and especially tenants who simply cannot afford incorporation into the fully commodified formal economy. -- An article by Madeleine Bunting for The Guardian (UK) claimed that de Soto's suggestions would in some circumstances cause more harm than benefit, and referred to The Mystery of Capital as "an elaborate smokescreen" used to obscure the issue of the power of the globalized elite. She cited de Soto's employment history as evidence of his bias in favor of the powerful. https://www.theguardian.com/business/2000/sep/11/imf.commenthttp://www.slate.com/articles/news_and_politics/hey_wait_a_minute/2005/01/the_de_soto_delusion.html
Dr. Tomicah Tillemann is Director of the Bretton Woods II initiative. The initiative brings together a variety of long-term investors, with the goal of committing 1% of their assets to social impact investment and using investments as leverage to encourage global good governance. Tillemann served at the U.S. State Department in 2010 as the Senior Advisor on Civil Society and Emerging Democracies to Secretary Hillary Clinton and Secretary John Kerry. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Tillemann received his B.A. magna cum laude from Yale University. He holds a Ph.D. with distinction from the School for Advanced International Studies at Johns Hopkins University (SAIS) where he also served as a graduate level instructor in American foreign policy.http://live.worldbank.org/node/8468https://archive.is/raDHA
Secretary Clinton appointed Tomicah Tillemann, Ph.D. as the State Department’s Senior Advisor for Civil Society and Emerging Democracies in October 2010. He continues his service under Secretary Kerry.
Mr. Tillemann and his team operate like venture capitalists, identifying ideas that can strengthen new democracies and civil society, and then bring together the talent, technology and resources needed to translate promising concepts into successful diplomacy. He and his team have developed over 20 major initiatives on behalf of the President and Secretary of State.
Mr. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009 and collaborated with her on over 200 speeches. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Mr. Tillemann’s other professional experience includes work with the White House Office of Media Affairs and five U.S. Senate and Congressional campaigns. He was a reporter with Reuters New Media and hosted a commercial radio program in Denver, Colorado.http://m.state.gov/md160354.htmhttps://www.newamerica.org/our-people/tomicah-tillemann/https://archive.is/u2yF0
Director of “Bretton Woods II” initiative at New America Foundation Bretton Woods was an international summit that led to the creation of the IMF and the IBRD, one of five members of The World Bank
Speaking to Clinton Global IntiativePrior to working at Edelman, my career has included serving as Deputy White House Press Secretary and Special Assistant to President Obama, Director of Public Affairs for the Office of the Director of National Intelligence, Director of Communications for the Senate Commerce, Science and Transportation Committee and its then Chairman Senator Rockefeller, Traveling Press Director for Secretary Hillary Clinton’s 2008 Presidential campaign, and Director of Communications for Secretary Madeleine K. Albright and her consulting firm, The Albright Group, LLC.https://medium.com/@jamieelizabethsmith/why-i-believe-in-the-blockchain-b19bf2014fab
Don Tapscott, co-author of the book “Blockchain Revolution,” hosted the meeting with his son and co-author Alex Tapscott at his family’s summer compound in Lake of Bays, Ontario. The group included some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan. They considered ways to improve the governance and oversight of the technology behind the digital currency bitcoin as a way to fuel the industry’s growth. They included Jim Zemlin, executive director of the Linux Foundation; Brian Behlendorf, executive director of the Hyperledger Project, a blockchain supporter group that includes International Business Machines Corp., Airbus Group SE and JPMorgan Chase & Co.; and Ana Lopes, board member of the World Wide Web Foundation. Participants with blockchain industry ties include former deputy White House press secretary Jamie Smith, now chief global communications officer of BitFury Group Ltd., and Joseph Lubin, founder of startup Consensus Systems.
Was the founding director of the MIT Digital Currency Initiative -Left his 4 year post as White House Senior Advisor for Mobile and Data Innovation to go directly to the MIT DCI
Brian Forde has spent more than a decade at the nexus of technology, entrepreneurship, and public policy. He is currently the Director of Digital Currency at the MIT Media Lab where he leads efforts to mainstream digital currencies like Bitcoin through research, and incubation of high-impact applications of the emerging technology. Most recently he was the Senior Advisor for Mobile and Data Innovation at the White House where he spearheaded efforts to leverage emerging technologies to address the President’s most critical national priorities. Prior to his work at the White House, Brian founded one of the largest phone companies in Nicaragua after serving as a business and technology volunteer in the Peace Corps. In recognition of his work, Brian was named a Young Global Leader by the World Economic Forum and one of the ten most influential people in bitcoin and blockchain.https://www.linkedin.com/in/brianfordehttps://archive.is/WjEGU
Includes Accenture (See Avinash Vashistha), Allianz, Deloitte (Scaling Bitcoin platinum sponsor, Blockstream Partner), Citigroup, Bain & Company (parent of Bain Capital, DCG investor), Dalian Wanda Group (working on blockchain technology), Ernst & Young (see Paul Brody), HSBC (Li-Ka Shing, Blockstream investor, used to be Deputy Chairman of HSBC), IBM, KPMG International, Mastercard (DCG Investor), PwC (Blockstream partner, also sponsor of Scaling Bitcoin)
Future of Financial Services Report [PDF] The word “blockchain” is mentioned once in this document, on page 23 (http://i.imgur.com/1SxyneJ.png):We have identified three major challenge areas related to innovation in financial servicesthat will require multi-stakeholder collaboration to be addressed effectively. We are launching a project stream related to each area, with the goal of enabling tangible impact.... Decentralised systems, such as the blockchain protocol, threaten to disintermediate almost every process in financial services
Excerpt: BitFury - www.bitfury.com - The Bitfury Group develops and delivers software and hardware solutions for businesses, governments, organisations and individuals who want to securely move an asset across the Blockchain.
Q: 1) Hello, what's a better strategy for bitcoin holders if it hard forks at 75%? Is it worth holding of the coins in the minority chain? Or better selling them? Will the value of coins in the majority chain be weakened or reinforced? Thank you A: 1) BIP109 does not hard fork at 75%, it hard forks 28 days after 75% has been reached-- so when the hard fork happens, there should be almost zero hash power on the minority chain. So there will not be a minority chain. If I am wrong and blocks are created on the minority chain, people plan to get enough hash power to replace those blocks with empty blocks, so it is impossible to make any transactions on the minority chain. Q: 2) if Bitcoin split into two chains, will it cause panic in the market, then the overall market capitalization fell? A: 2) Bitcoin split into two chains accidentally in March of 2013, and there was panic selling -- the price dropped from $48 to $37 within a few hours. But the mining pools very quickly agreed on which branch of the chain they would support, the problem was resolved within a day, and a week later the price was over $60. That shows the strength of consensus and incentives-- the mining pools did what was best for Bitcoin because that is what is best for themselves in the long term. Q: 3) Now it requres 60-70G space for a full node wallet, also it takes severals days for synchronization. Technically, Is it possible in the future that a full node wallet only cost a little space and can be quickly synchronized? (Do not use light wallets and other third party wallets) A: 3) You can run a pruned node that does not store the full block chain today (I’m running six right now on inexpensive servers around the world to test some new code). It is technically possible to get fast synchronization without giving up any trust, but it would require miners do more work (they would have to compute and store and validate an “unspent transaction output committment hash” in the block chain). There are also schemes that would give you fast synchronization at a lightweight-wallet level of trust, but worked towards no trust if you were connected to the network for long enough. Some developers say that you are not really using Bitcoin unless you run a full node, but that is wrong. Bitcoin was designed so that you can make the choice of speed and convenience versus trust. You give up very, very little trust if you run a lightweight wallet that supports multisignature transactions, and I think that is what most people should be running. Q: 4) What do you think about Ethereum? Can Bitcoin achieve all the same functions claimed by Ethernet? Thank you A: 4) I think most of the interesting things you can do with Ethereum you can also do with multi-signature Bitcoin transactions. I haven’t seen a really great use of Ethereum yet, and I think there will be a big problem with Ethereum smart contracts that are designed to steal people’s money, because very few people will have the skill necessary to tell if a complicated smart contract is correct. I’m watching the rootstock.io project, which brings Ethereum contracts to Bitcoin. Q: 5) Is it possible that Nakamoto may still participate in the development of Bitcoin by a pseudonym? What is the last time he contact you? Will he be back? A: 5) Yes, it is possible. I tell reporters who ask me about Satoshi: The idea of Bitcoin is important; who invented it is an interesting mystery, but I think it should remain a mystery until whoever invented it decides to step forward. We should respect Satoshi's privacy. Q: 6) Now some government can prevent people from accessing foreign information using technical method(like the Great Firewall), people need to get across the wall first if they want to know information abroad. So technically speaking, is it possible that the government could block and damage the usage of bitcoin? If it is, is there any method to get across the wall? A: 6) If a government controls network access into and out of their country (like the Great Firewall), they could easily block connections to and from today’s Bitcoin peer-to-peer network. Connections are not encrypted in any way, and most connect to port 8333, which would be easy to block. However, blocking connections inside the country would be much harder. And it only takes one encrypted or satellite or microwave or laser connection that bypasses the firewall to get around the blockage and get blocks and transactions flowing across the border again. I think governments that decide they don’t like Bitcoin are more likely to pass laws that make it a crime to use a currency other than the official government currency to pay for things. Q: 7) You insist on hard fork at 75%, while Chinse Mining Pools insist at 90%. So it may be easier to get support from China If Classic changes to 90%. Have you ever considered to communicate with Chinese mine pool( such as convening a meeting) to reduce differences? A: 7) Yes, I was in Beijing a few weeks ago to better understand what some of the Chinese mining pools are thinking. It was a productive meeting, and I look forward to communicating more with them soon. Q: 8) How will halving and block size increasing impact the bitcoin price in your opnion? Thanks. A: 8) The price, today, is a reflection of confidence. If people think Bitcoin will be valuable in the future, they are willing to buy it and hold it. Everybody knows the halving will happen, so, theoretically, that should not affect today’s price. I believe that increasing the block size limit would be very good for the price, because Bitcoin is more valuable the more people who are able to use it. Q: 9) Technically, bitcoin should also have drawbacks. Some disadvantages may be improved in the future , while some may be difficult to improve. What are those shortcomings for bitcoin to hard to improve in your opinon? Are you an optimist thinking that all technical shortcomings are temporary, and they will all likely to be improved in the future? A: 9) Every successful technology is full of shortcomings. It is always easier to look backwards and see your mistakes. Smart engineers are very good at working around those shortcomings, and wise engineering managers know when to work around a shortcoming to remain compatible with the existing technology and when it makes sense to break compatibility because eliminating a shortcoming would have large benefits. Q: 10) If there is a kind of altcoin in the future goes beyond Bitcoin, it must has the advantage Bitcoin can not have, right? Conversely, if Bitcoin itself evolves fast, improves and adds new features, it will be difficult to be surpassed and eliminated, right? What does Bitcoin scalability and evolution capability look like? A: 10) People are funny -- I can imagine an altcoin that has no technology advantages over Bitcoin, but some people prefer it for some reason. I live in a town where a lot of people care a lot about the environment, and I could imagine them deciding to use a “GreenCoin” where all miners must be inspected regularly and must use only solar power. I think many engineers tend to over-estimate the importance of new features, and under-estimate the importance of reliability, convenience and reputation. Satoshi designed Bitcoin to be very scalable, and to be able to evolve. I think the best way for any technology to scale and evolve is competition -- make the technology open, and let companies or teams compete to build the most reliable, convienent and secure products. That looks like (and is!) a very messy, chaotic process, but it produces better results, faster, than a single person or team deciding on on approach to solving every problem. Q: 11) If R3 succeeds, will it challenge bitcoin in transnational remittances? A: 11) Maybe -- if banks involved in R3 could make it very convenient to get money into and out of their blockchain. They might not be able to do that because of regulations, though. But I don’t know much about the international remittance market and what regulations the banks will have to deal with. Q: 12) Can blockchain only be secured by mining? Some private blockchain do not have mining property, are they really blockchain? A: 12) Security is not “yes it is secure” or “no it is not secure.” Proof of work (mining) is the most secure way we know of to secure a blockchain, but there are less secure methods that can work if less security is OK. And less security is OK for some private blockchains because if somebody cheats, they can be taken to court and money can be recovered. Q: 13) Will public chain, private chain and R3 chain coexist for a long time? Or only one chain survive finally? What is the relationship among Bitcoin block chain, private chains and R3 chain , complementary or competitive? Will Bitcoin block chain eventually win? A: 13) My guess is all of the “blockchain for everything” excitement will die down in a year or two and a lot of people will be disappointed. Then a few years later there will be blockchains for everything, running quietly inside stock markets and currency exchanges and lots of other places. Some of them will use the Bitcoin blockchain, some of them won’t, and nobody besides blockchain engineers will care much. Throughout it all, I think it is most likely Bitcoin continues to grow, hopefully with less drama as it gets bigger and more mature. Q: 14) Some people think that it is difficult for the outside world to understand the technical details if lightning network is controlled by blockstream or another company, resulting in technological centralization, what’s your opinion? A: 14) I don’t worry about that, the lightning protocol is being designed in the open as an open standard. It is complicated, but not so complicated only one person or company can understand it. Q: 15) What is the procedure Bitcoin Core modify the rules? Take the 2M hard fork proposal as an example, I saw there are concerns that if one of the five core developers who have write access reject the proposal will be rejected. So If happens, does that mean the launch hard ford in July will be abandoned? What is percentage of agreement in Core developers to write code for such a major bifurcation matter like 2M hard fork? Are there any specific standards? Or the lead developer has the final decision? A: 15) That is a good question for the current active Core developers. When I was the lead developer, I would make a final decision if a decision needed to be made.
Q: What do you think about the future of increasing bitcoin block size limit? A: It will happen sooner or later -- almost everybody agrees it must happen. I am still working to make it happen sooner, because the longer it takes, the worse for Bitcoin.
Q: What decision making process you think should be used for future bitcoin development? A: For example, WuJiHan's proposition of service providers and mining pools collecting individual mineuser opinion. Or, a non-profit making standard making committee like IEEE, consists of people with enough expertise in bitcoin and economy, finance? I think we should look at how development of other very successful technologies works (like email or the http protocol). I am not an expert, but open standards and open processes for participating in creating standards that are either adopted by the market or not (like the IETF process) seem to work the best.
Q: From my experience on Reddit, people now start to understand that evil is not Blockstream/Core's intention. They simply have a very different vision on how Bitcoin network should be running and on how future development should be heading. They do whatever they can to protect their vision, even dirty tricks, because they feel they are bringing justice. Similarly, in Chinese community, we do see the same situation. Many Chinese Bitcoiners that showed strong enthusiasm in the past differ with each other. This even happens among my own real-life friends. My question is: How can we separate these two groups of people who have widely divergent visions? Bitcoin cannot proceed when carrying two totally different visions. A: I don’t know! It is always best if everybody is free to work on their own vision, but for some reason some people seem to think that the block size limit will prevent big companies from taking over Bitcoin. I think all they will accomplish is making the technology much more complicated. And big companies are much better able to deal with and control highly complicated technologies.
Q: Please share your comments on ripple, Mr. Guru. A: I haven’t paid very much attention to Ripple- the last time I looked at it was probably two years ago. Back then I thought they would have trouble with governments wanting to regulate their gateway nodes as money transmitters, but I haven’t even taken the time to see if I was right about that.
Q: Hi Gavin, I think you had a disagreement with the Nakamoto roadmap in Bitcoin design. Can you explain why? Thank you. A: I assume you mean the part where Satoshi says he doesn’t think a second implementation will ever be a good idea. I just think Satoshi was wrong about that-- if you look at very successful protocols, they all have multiple compatible implementations. We understand a lot more about what it takes to be completely compatible and have much better tools to ensure compatibility. And the fact that there now are multiple compatible implementations working on the network (btcd being probably the best example) shows both that it is possible and that the other implementations are not a menace to the network.
Q: 1) For the dispute between Core and Classic, can we refer to the theory of “Common-pool resources” (Commons) in the Western cultural tradition to understand and grasp the public and neutral property of bitcoin so at to strive for a solution which can balance interests of all parties? A: 1) Maybe. The blockchain could be considered a Commons today-- a common, limited resource. But if control of the block size limit was given to miners, then I don’t think it fits the definition any more, because miners would have the freedom to restrict its use however they saw fit, on a block-by-block basis. That is just a simple, pure market, with transaction creators on one side and miners on the other. Q: 2) For the application requring "bitcoin multi-signature script", can you recommend any programming language, libraries or tools? A: 2) BitPay has some good tools: https://github.com/bitpay/bitcore I haven’t worked on any multisignature applications since writing the low-level protocol code-- there are probably other great libraries and tools that I just don’t know about.
Q: Hello Gavin, are you now still developing Classic? Will Classic proceed? Would you give up Classic and return to Core? A: Yes, yes, and there is no “return to” -- I plan on contributing to lots of projects.
Q: 1) If there are one million entrepreneurs who require fund and asset securitization via block chain technology, is it possible? A: 1) If there are ten million investors willing to fund those entrepreneurs, sure it is possible. The technology won’t be a problem, one million is not a large number for today’s computers. Q: 2) Why can we trust Bitcoin and what are the advantages of bitcoin in online payment and settlement? Its commission fee now is not as cheap as before, besides, the time for one confirm is not fast enough. Your opinions on pros and cons of Mining and PoW? A: 2) For people in places with good-enough banking systems like the United States or China, purchasing things inside their own country, bitcoin does not have much of an advantage over existing payment systems. But if you are buying something from somebody in another country, or you live in a place where there are no good payment systems, Bitcoin works very well. Proof of work and mining is the most fair, decentralized way to distribute new coins. They are also the best way of securing the network that we know of so far. Perhaps in 30 years when essentially all of the new coins have been mined and computer scientists have thoroughly studied other ways of securing the network it might make sense for Bitcoin to start to switch to something other than mining and proof-of-work to secure the network. Q: 3) How likely the possibility of replacing the existing legal currency with virtual currency? A: 3) Very unlikely in a large country. I can imagine a small country that uses a larger country’s currency deciding to switch to a crypto currency, though.
Q: 1) You have always insist on larger block. Some people share the same view, they just want to increase the block size, regardless of network bandwidth restrictions in China and other developing countries. How do you see this criticism? A: 1) Most people are using Bitcoin over very limited bandwidth connections-- most people use lightweight wallets. If you run a business that needs a fast connection to the Internet, then it is not expensive to rent a server in a data center that has very good bandwidth. Even inexpensive servers have plenty of bandwidth and CPU power to keep up with much higher transaction volume. If you insist on running a full node from your home, average connection speed in China today is 3.7 megabits per second, which is almost 1,000 transactions per second. Latency through the Great Firewall is a bigger issue right now, but there are several software solutions to that problem that people (including myself) are working on right now. Q: 2) In addition, I'm curious what is your opinion on the current Bitcoin Core team? There is no doubt? If so, why not act as a Core developer contributing code in Bitcoin Core to solve these problems? A: 2) I like most of the people on the current Bitcoin Core team, they are great. But there are a couple of people on that team I don’t want to work with, so I have decided to limit the amount of time I spend with that project.
Q: 1) Hello Gavin, I would like to ask you how long since your last contribution in Bitcoin Core or others related? Expect the big influence as one of the earliest contributors, do not you think you ought to talk about the code, mostly for the coutribution of development of Bitcoin? A from pangcong: 1)The last commit in bitcoin core made by Gavin is on September 30, 2015, after that Gavin was busy with bitcoin XT and bicoin classic. His actual development in bitcoin has never stopped, these records are very clear on github, if you want to ask questions which are obvious, please investigate first. A from Gavin: 1) Also: I submitted some patches to Bitcoin Core a few days ago. Q: 2) Also, you were a neutral software engineer before, seriously committed to improving the bitcoin. But now you're playing political means to enhance your impact on the future of Bitcoin, how do you respond with it? A from KuHaiBian: 2) Now the biggest problem in Bitcoin is not block size limit, but that there is only one development team, it is as dangerous as the situation that there is only one mining pool mining bitcoin. This is the biggest problem Gavin is trying to solve. A from Gavin: 2) I just give my honest opinion, and try to do what I can to make Bitcoin more successful.
Q: There is no systematic process for Bitcoin upgrades. Is there any regulation/restriction on the power of Core devs? How do we balance the conflict between the centrilized power of the devs with interest of the community consensus? Do you think Bitcoin need to learn from R3 chains or distributed ledger systems? I.e. setting up regulations to constrain the power of the devs, so that only devs with “restricted access” can contribute, not everyone. A: Competition is the best solution. If the Core team does not make their customers happy, then they will be replaced. It might take a year or more for another team to get the reputation for high-quality code that the Core team has acquired over the years.
Q: In 2016, you propose to increase block size limit to 8M, then doubled every two years. Is it still the most promising expansion plan in your opinion now? If it is, do you think it possible that the block size reach 8GB in 2036, particularly given the network speed and bandwith in developing countries. A: I think it would be best to eliminate the block size limit entirely, and let the miners decide if they should accept or reject blocks. The miners want Bitcoin to succeed, and will not choose a size so large the network cannot handle it. I don’t know if people would agree to eliminate the limit, though. A dynamic limit that grows, but prevents an extremely large ‘attack block’ would also be a good solution. The growing-8MB idea came from the idea that it should be possible for somebody on a home Internet connection to continue to validate every single transaction. However, more research showed that the bottleneck is not the connection from the Internet to our homes (even in China there is plenty of bandwidth there) but connections across international borders. In particular, the Great Firewall can sometimes greatly restrict bandwidth to and from China.
Q: Gavin, hello! What is the reason do you think the community rejected Bitcoin XT? A: It was a mistake to try to make more changes than just simply increasing the block size limit.
Q: Now the problem of block size limit is not so serious as before when Bitoin was attacked, and the Segwit has been deployed, so what is the controversy? Why have to argue to the bitter end, must we argue until bitcoin die? Gavin, we all know your contribution to Bitcoin. But in 2015, when you said in bitcoin software development, we need a "dictator" to resolve the dispute. I think you want to be this dictator. http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-June/008810.html A: Must we argue until bitcoin die: I think is is in the nature of people to argue, so I think we will be arguing about lots of things until either we die or Bitcoin dies. I think in a few years we will look back and wonder why there was so much arguing, but I also think some good things have come from all of the argument.
Q: 1) What do you think about Ethereum? Can smart contract run based on Bitcoin? A: 1) (This question is repeated. Please see Q18-4) Q: 2) What are the problems Miners may have to face after halving in July? Thanks! A: 2) There is a small risk that the halving will make a good fraction of the miners stop mining, because they will get about half of the bitcoins they got before the halving. And that might mean blocks take longer to create, which means less space for transactions, which might mean people get frustrated and leave Bitcoin. Which could drop the price even more, causing more miners to stop mining, more frustration, and so on. Miners tell me they have already planned ahead for the halving and this will not happen, which is why I think it is a small risk and I don’t think the halving will be a big problem for most miners. Q: 3) Where can we get the whole code and code review of bitcoin? A: 3) Bitcoin Core is at: https://github.com/bitcoin/bitcoin Bitcoin Classic: https://github.com/bitcoinclassic/bitcoinclassic btcd: https://github.com/btcsuite/btcd bitcore: https://github.com/bitpay/bitcore
The White House will roll out a long-awaited infrastructure plan today, which already faces hurdles in Congress because it doesn't offer as much new federal funding as Democrats want, or directly address how to pay for the effort. President Trump will propose spending $200B over 10 years, mostly in the form of grants designed to encourage states and cities to raise their own money for infrastructure projects, hoping to spark $1.5T in new investment. Economy Following last week's roller coaster ride, U.S. stock index futures are up by 1.2%, but with yields on U.S. 10-year Treasury paper touching a four-year top of 2.885%, it's too early to sound an all-clear on volatility. Another upcoming challenge will be the release of U.S. consumer price data on Wednesday - given that it was fears of faster inflation, and thus more aggressive rate rises, that triggered the global rout in the first place. 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The White House plans to stop funding the ISS after 2024 and is working on a transition plan that could turn the station over to the private sector, The Washington Post reports. NASA already subcontracts certain ISS support operations, such as supply flights carried out by SpaceX (Private:SPACE) and Orbital ATK (NYSE:OA), while Boeing (NYSE:BA) operates the station for NASA, which costs the agency $3B-$4B per year. Weekend Reads PRO+ Weekly Digest: Focusing On Stocks To Buy On A Pullback Marketplace Roundtable: Don’t Get So Emotional, Baby: Fear & Greed Trader On Tackling Market Turbulence Today's Markets In Asia, Japan -2.3%. Hong Kong -0.2%. China +0.8%. India +0.9%. In Europe, at midday, London +1.1%. Paris +1.3%. Frankfurt +1.5%. Futures at 6:20, Dow +1.2%. S&P +1.2%. Nasdaq +1.2%. Crude +1.7% to $60.20. Gold +0.5% to $1322.10. Bitcoin +7.2% to $8651. Ten-year Treasury Yield +5 bps to 2.88% Today's Economic Calendar 2:00 PM Treasury Budget
Hello Dogecoin, I have seen many great things come from this subreddit such as funding Olympic bobsledders and the ever great funding of the Dogecoin NASCAR which Josh Wise piloted for us! I have seen the benefits of Dogecoin and would love to help this community advertise it and help get the word out on our beloved cryptocurrency as well. Not many people in my area are familiar with even the word bitcoin or cryptocurrency and it saddens this shibe. I can’t even tell you how many of my friends I have tried to convert into Shibes with a very low success rate, but still, I have converted a few who will follow us to the future and to the moon!
My proposal to you Dogecoin, is that I want to help by broadcasting on OUR race team, the Dogecoin logo and whatever you want to throw on it for the Sponsorship. Our race team is so far composed of my dad, a friend who I have known since my first day at the track and where we became friends, and myself. We want to race this year with two 360 sprint cars piloted by myself and my father, and my friend is starting off with a sport compact since he has never had a chance to race before.
Background on my team: My dad, (58, but still sharp as a tack) who has driven for most of his life in a 360 sprint, finally decided to hang up his helmet when he had mouths to feed and no time to work on his car when he was dealing with my brother and I. He started racing at the age of 16 where he was influenced by his father and uncle who raced flat head Fords back in the day. They had owned a repair shop and they were the biggest Case tractor dealership in our area for many years, which made it easy for them to race seeing that they had all the tools and parts on hand all the time. Most of the machine work on the engines they did themselves. My dad decided that he wanted to start racing in a sprint car and with the help of his dad and uncle, they threw together parts to make one for him to race at a few tracks here in Nebraska. What they didn’t know was how well my dad would do. My dad dominated the dirt track circuit back in the 70’s and into the 80’s. He has over 10 track points’ championships, easily over 30 trophy dash wins, and I’ve personally got to watch him race and come from the back field of 10+ cars and within 15 laps, be honing in on first and taking it for himself. He recently got a chance to get back in in 2010 where he and I got to build a car from the ground up. We were a crazy tight budget race crew that built the car completely of spare parts. The engine, we put what we could in and took her to the track. My dad, after sitting idle for close to 10 years was back at it. Well, lo and behold, the rear end we got from a guy at a swap meet, didn’t have the gears in it that he told us it had in it and they were too deep. My dad started in the heat in 3rd, and on the first corner gave it hell to try to take first struggling to get around the other guy. Well, the next corner he took on first and pulled it off and we all cheered and as he laid into it on the straight, but that’s when the worst thing imaginable happened. A gigantic fireball and lots of white smoke poured from the car. We knew instantly that we had blown it up. If only for a moment though, my dad was already back to his former glory. Well, long story short, we poured our and a friends money into it to put together another engine. We had such a budget race car that it didn’t quite have the power to compete with the big boys, but my dad was still giving his all and holding position as best as he could. Well, after that year, we got under some financial struggles and he had to hang up his helmet yet again. Myself: I am 19 years old and I have been around racing, mostly sprints, my whole life. I have served as a pit crew member for a good amount of my life, helping where and when I could. I helped our family friend with his sprint car and so did my dad. I have drag raced where I have taken 2nd place in High school, as well as a 3rd place finish with my 78 Camaro, which I only had a couple chances to race last season. I also have gotten time in a sport compact, where I raced a better time than that of %95 of the field. I have never got the chance to sit behind the wheel of a sprint car other than to pilot it around the shop and the few chances I climbed on the throttle, I became addicted. I have taken my own Camaro out with my dad before though, and we have played around with dirt style racing and even taking it on pavement to the limits. I have shown my dad what I am capable of and I am ready to take it onto the track with the “Greatest Show on Dirt!” My Friend: He is the nephew of the family friend that we have always sponsored in racing. He helped out in the pits with his father who was always reminiscing about the good ol’ days when all of them used to be out on the track with my grandpa and great uncle. He was always telling me no one could put on a show quite like they did. My friend is 17 years old and is ready to start off his career in racing. It has always been a dream of his, but has always been limited in the fact of money. He decided that this year though, that no matter what, he was racing. He looked into racing a hobby stock until he found a good deal on a sport compact that he decided would be a good start for himself. Sponsorship: I would love to be able to fund all three of us going track to track sponsoring Dogecoin and whatever else you might want to put on the car, such as wallets, Dogecoin exchanges, or even just our subreddit in general. I promise that with this sponsorship, we will hit as many tracks as possible and we will take our cars to the Knoxville Nationals where it will get broadcasted on National T.V.!!!! Don’t forget also, the more we travel, our trailer becomes a gigantic rolling billboard for Dogecoin and anything else we so choose. Depending on how adventurous and how much we get funded, we are even looking at going into the World of Outlaws, where they have multiple events a week and are all broadcasted on T.V. If we can get big enough, we will even be able to sell merchandise such as t-shirts, die cast Dogecoin cars, and even shibe bobble heads if we want! In this sponsorship, we are looking at funding two 360 sprint cars and we are trying to basically race the sub compact straight out of our own pocket since they’re not too care intensive, unless it gets rolled.(which we really hope won’t happen) In the instance that we get more funding than needed to race our 360’s, we will up our cars to 410 sprints, which is where they can run with the World of Outlaws and be broadcasted on national T.V. on a weekly basis. If funding goes a little better than planned, we can make a single 410, but we won’t be able to really make it into the WoO with it since the cars have to stay together for transportation reasons. I also want to help Dogecoin in sponsorship by making a film documentary on our season. If I can get the Dogecoin shibe sponsorship, I will take this to a few directors and see if any of them take interest in making us into a TV. documentary or even into a show such as discovery channel has done. The best example I can give is like Gold Rush Alaska. They go for all or nothing in search of their dreams. Well, in ours, it would be my dad trying to reclaim former glory and me, the rookie trying to fill my dad’s shoes.
Cost: The thing everyone has been waiting for. Well, we are looking at buying a full enclosed race trailer that can house the sprints, their parts, tools, tires, and miscellaneous equipment. Then there’s the fuel for both the transportation and the cars which can get pricey. For the cars, we are looking at putting at least $25,000 into each as to keep them at the top of the pack and not “sitting ducks” against the big boys who have national sponsorships. (This includes tires, minor parts, and extra wings) Then, depending on how “flashy” we would want it, we could paint the cars ranging from a grand to five grand. Then, all we have to worry about is breakdowns and a push vehicle. We wouldn’t need anything fancy, but no matter the size, it’s still a cost. To fully fund our whole year of racing w/o breaks, rolls, and tearing things up, we are asking for as close to $75,000 as we can get. We will fund ourselves as best we can and we will fully support the Dogecoin community in all our endeavors. I also have talked to my crew on further sponsorships and we have agreed that no matter what, we will always sponsor the Dogecoin community, even if you guys aren’t our main sponsors for the next racing year. Basically, what I am saying is that say Lucas Oil wants to pay us to race for them next year. Well, we would have them as the cars’ main sponsor, but somewhere on that car is going to be Dogecoin related. If we even put you on the top of the wing, the whole crowd would see you for years to come w/o you ever putting in the effort after the 2015 year. I’d rather though just keep you guys as my sponsor after seeing how close of a group we shibes are.
If we can get at least half funded, it would be enough to start our season and show you guys what we are made of and how bad we want to race for you! My dad is a simple man and his whole life has been dedicated to racing. Seeing him on the track back in 2010 I could tell how much he enjoyed it and how much he had dreamed the day would come when he could get back into a car. Watching him hang up his helmet though, I could tell was one of the saddest days of his life. I feel like he has lost his spark since that day. Every time I make a comment to him about the “old days,” he gets a smile on his face and I can see the excitement as he recalls stories and highlights of his racing days and when my whole family used to dominate tracks throughout Nebraska. I want to see that spark come alive again. When I told him that I might be able to find a sponsorship for this season for both of us to race, he was ecstatic and I finally saw that spark come back to life! I have always bonded with my dad through racing. It’s the only thing that I can ever get him to talk about it seems like and I can see how much he wants to teach me and get me to fill his shoes and go further than he ever did as a racer. I have dedicated my heart and soul into racing just like him and have no intentions of ever changing sports. I have a 1978 Camaro that I have rebuilt with my father that has a 302 out of a 1969 Camaro Z28. It is our pride and joy and I have done all I can with racing it since I’m very limited with where I can race it, and when I can afford it since it costs an arm and a leg to drag race in the sticks. I plan on keeping this car till the day I die and I know that I plan on having the same devotion to maintaining and racing my sprint car. Thank you so much for reading and best regards, Z11x Motorsports, The Doge Race Team! TO THE MOON!!!
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