Bitcoin How Little We Knew Back Then

By on January 9th, 2018 in bitcoin, cryptocurrency

In my travels I came across a presentation with the interesting title, Hacking the Global Economy with GPUs or How I Learned to Stop Worrying and Love Bitcoin (PDF of Presentation), and it was very enjoyable to watch.

This presentation is from DEFCON 19 in 2011 and it has some very interesting points about Bitcoin and where it stood at the time.

  • At the time $30 a Bitcoin was an inflated price. Given todays prices, this is quite funny.
  • Talks of how easily the system can be hacked, even though BitCoin is relatively secure. Folks hacked the system hard when Bitcoin was worth $30, what is happening now that the prices are at insane levels?
  • At the time, legal forces hadn’t taken direct notice of Bitcoin, but Silkroad is mentioned (almost a foreboding statement).
  • No mention of Bitcoin being used as the de facto payment for Ransomware either.

Here is the presentation, quite interesting and worth watching.

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