Adam Gering

What are bitcoins? (for dummies)

Mon, 01 Apr 2013 23:14:41 -0600

Answer by Adam Gering:

Bitcoin is something of a limited supply, that can be securely transferred between parties in a verifiable manner without relying on the trust of third party or a central entity. It cannot be counterfeited. It has no intrinsic value what-so-ever, only what people are willing to exchange it for.

In this sense, bitcoin is analogous to fiat physical cash, which more or less shares all the same characteristics listed above. However, bitcoin has two specific characteristics physical cash doesn’t have which are huge advantages:

(1) it is digital and not physical, therefore can be transferred between parties without physical exchange (e.g. over the Internet), and…

(2) the supply of bitcoins cannot be arbitrarily inflated (e.g. central banks inflating the monetary supply or printing money).

The mining of bitcoins serves purely to allow the supply of bitcoins to inflate in a controlled and predictable manner. It wasn’t really required, but it both encouraged early adoption of bitcoin, encourages network distribution of the bitcoin chain (which facilitates the transfer/verification function) and moderately reduces its value appreciation.

Bitcoin has two clear disadvantages to fiat physical cash, and one shared disadvantage:

(1) It is not legal tender for debts public and private. (i.e. no one is obligated to accept it and you cannot pay your taxes in it).

(2) It does not have a geographic monopoly, and can be subject to competition by other digital currencies.

(3 - Shared) It is targeted by thieves and can be stolen without recourse.

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Lessig Blog, v2: Prosecutor as bully

Mon, 14 Jan 2013 16:13:22 -0600

Lessig Blog, v2: Prosecutor as bully:

lessig:

(Some will say this is not the time. I disagree. This is the time when every mixed emotion needs to find voice.)

Since his arrest in January, 2011, I have known more about the events that began this spiral than I have wanted to know. Aaron consulted me as a friend and lawyer. He…

When its time to find a coworking space. (Guy at Starbucks)

Wed, 09 Jan 2013 19:16:30 -0600

When its time to find a coworking space.

(Guy at Starbucks)

A startup founder's hourly rate

Wed, 25 Apr 2012 14:54:22 -0600

A startup founder's hourly rate:

newsyc:

A startup founder’s hourly rate (ninjasandrobots.com)

Go The Fuck Home: Working Too Much is Hurting Your Productivity

Thu, 29 Mar 2012 20:24:49 -0600

Go The Fuck Home: Working Too Much is Hurting Your Productivity:

Go The Fuck Home: Working Too Much is Hurting Your Productivity (thewebivore.com)

Safe Shepherd: Startup chaos, and Crashing our way into 500 Startups

Mon, 26 Mar 2012 19:31:26 -0600

Safe Shepherd: Startup chaos, and Crashing our way into 500 Startups:

safeshepherd:

I’ve been asked to write this blog post by many, many friends over the past few months; here it is.

Everything changed when Dave McClure checked-in on Foursquare three blocks from our apartment…

My co-founder Geoff and I began our start-up adventure with nothing more than blind ambition, a…

AARRR! Super secret 500 Startups intellectual property.A:...

Thu, 01 Mar 2012 00:20:15 -0600

AARRR! Super secret 500 Startups intellectual property.

A: Acquisition - where / what channels do users come from?
A: Activation - what % have a “happy” initial experience?
R: Retention - do they come back & re-visit over time?
R: Referral - do they like it enough to tell their friends?
R: Revenue - can you monetize any of this behavior?

Hello Bubs!: The House Y Combinator Should Have Built

Thu, 01 Mar 2012 00:09:02 -0600

Hello Bubs!: The House Y Combinator Should Have Built:

dariusmonsef:

It’s hard to critique a model that has succeeded as well as Y Combinator has… So I’ll be clear that I’m not trying to point out a deficiency in YC, but rather an opportunity to make the experience even better. This idea has been something kicking around in my head since we did YC 2 years ago, but…

(Reblog) Entrepreneur Designers: Week 2: Customer Development

Wed, 22 Feb 2012 10:05:21 -0600

(Reblog) Entrepreneur Designers: Week 2: Customer Development:

entrepreneurdesigners:

Week two focused on the customer development process and running experiments.

The Customer Development process, developed by Steve Blank, offers a framework for product development that can feel familiar to designers trained in empathetic human-centered design. (Though Blank uses Customer…

(Reblog) Entrepreneur Designers: Week 1: Perspectives

Wed, 22 Feb 2012 10:04:34 -0600

(Reblog) Entrepreneur Designers: Week 1: Perspectives:

entrepreneurdesigners:

When Christina and I began the process of designing the course, we came up with a few principles to help us think about the content, structure, and goals of the class:

1. Networks are a foundational concept.

As a society, we are undergoing one of the most significant macro-level shifts in our…

Staying @ 3700 The Strand, Manhattan Beach, California....

Sat, 18 Feb 2012 23:15:32 -0600

Staying @ 3700 The Strand, Manhattan Beach, California. Absolutely beautiful weather.

Click to view slide presentation

Tue, 07 Feb 2012 22:44:24 -0600

Click to view slide presentation

mothernaturenetwork: Oil rig hotel?Yep, you read that...

Tue, 07 Feb 2012 16:57:04 -0600

mothernaturenetwork:

Oil rig hotel?
Yep, you read that correctly. Take a gander at a stunning vision of an oil rig in the Gulf of Mexico transformed into an eco-resort and spa

"That which is overdesigned, too highly specific, anticipates outcome; the anticipation of outcome..."

Mon, 06 Feb 2012 18:41:00 -0600

“That which is overdesigned, too highly specific, anticipates outcome; the anticipation of outcome guarantees, if not failure, the absence of grace.”

- William Gibson, All Tomorrow’s Parties

First Contact

Sun, 05 Feb 2012 19:43:22 -0600

I will be in the San Francisco Bay Area between Feb 22^nd and Mar 8^th, and at SXSW Interactive (Austin) March 9^th-13^th. I am also unexpectedly in Seattle the 15^th-16^th of February, and in Los Angeles the 18^th-21^st, ahead of my originally planned trip.

I am moving to Silicon Valley in July, to become deeply involved in the business and science of startups. It is my goal to devote the next three decades or more to starting new companies, mentoring startups, investing in startups, and generally being obsessed with building companies and turning ideas into reality.

I’m seeking to meet people who are doing this already; individuals involved in incubators and accelerators, in entrepreneurship focused and mentorship centric organizations; active angel investors and seed-stage VC investors; and entrepreneurs building companies. To learn, share, network, and set the groundwork for future collaboration.

I’m not presently raising money. However taking advice from Mark Suster, I’m interested in meeting potential investors early who consider themselves “accessible”; to soak up as much advice as they’re willing to give, and informally share my ideas. This time next year I expect to be raising, and have applications with top-tier accelerators.

I’m also seeking to meet individuals with the passion, desire and skills to build companies; potential cofounders and early employees. Founding team is the key element in executing an idea and scaling a business; I’m seeking the absolute best, and will be liberal in sharing equity and upside potential.

Original Article

Silicon Valley or Bust

Sun, 15 Jan 2012 18:52:06 -0600

It’s official; we’re moving to Silicon Valley.

While there may still be some debate on where the best place to start a company is, the San Francisco Bay Area is without debate the center of the Universe for Internet startups. I want to be in the center.

Especially after living so long, so far away from the center. On a sleepy subtropical mountainside in Costa Rica, I’d proved you can run an Internet business from anywhere in the world you have a laptop and an Internet connection. The problem is I’d forgotten who I had intended to prove that to or why.

A 19-year-old tormented by startup ideas asked on Quora what he should do. I suggested he massively self-educate himself with the skills needed to execute those ideas, and move immediately to Silicon Valley with a make it or bust attitude. I’m going to live my advice and do the same.

Original Article