Piotr Piasecki

Over the last few weeks we had a lot of people discussing Bitcoin forks. Every member of the Bitcoin community is voicing their opinions on the matter, so I figured I'd write down my thoughts as well.

Last week marked my fourth year of moderating /r/Bitcoin . A lot has changed in the last year, but also, a lot has stayed the same. So I figured I'd provide my thoughts on our current situation and a few important events that have transpired recently.

Recently I became involved with SCC's committee on "Blockchain and electronic distributed ledger technologies". During one of the discussions, I've learned about a new term that seems to have become very popular in the banking industry - "Distributed Ledger Technology" (DLT). Apparently companies like Deloitte or even the UK government have picked up on this new thing and seem to be abuzz with it.

Last week we discussed [problems with using really big numbers in cryptocurrencies](news/problems-with-big-numbers-in-crypto-how-bitcoin-dodged-a-bullet/). This week I'd like to talk about misconceptions surrounding cryptocurrencies with big coin supplies, as well as the wider topic of inflation. Both this and the previous article were inspired by the [OneLife Mastermind event](https://www.youtube.com/watch?v=WI6l4N4MQaE), during which the people on stage were gushing about [how many coins their system will have and can mine, ](https://www.youtube.com/watch?v=WI6l4N4MQaE&t=11089)"The new blockchain will mine 50'000 coins per minute. [...] I think we are mining about 2'000'000'000 coins now."

Recently, the infamous OneCoin made news once more in the Bitcoin circles after their OneLife mastermind stream. One of the more interesting things mentioned was the previously announced blockchain reset, coin doubling and increase in coin generation speed.

Recently, I was contacted by a fellow Bitcoiner and informed about some possible shady goings-on on the DECENT platform. Reportedly, the platform has raised 5352BTC (3.2M USD equivalent) in its token presale, but the product appears to be on some shaky grounds. Lets have a look at what we can find out about the platform, the presale and have a look at whether there is something shady going on...

Earlier this month, the G20 summit was held in China. One of the more interesting topics discussed, was the addition of Chinese yuan to the International Monetary Fund Special Drawing Rights. The topic is rather important, but it doesn't seem to be discussed all that widely in the crypto community.

The Bitcoin community has debated a potential hardfork to Bitcoin for over a year now. There have been various solutions proposed to change the hard cap on block size and increase the amount of transactions that can go into any single block.

Working at Factom I came across an idea that seems seldom explored in the cryptocurrency space - a transactional currency called entry credits. They operate alongside the main currency of the network, factoids, but while factoids are a fully functional cryptocurrency that can freely circulate in the network, entry credits have a number of restrictions on them:

[The DAO](thedao) has made a lot of waves recently. First - last month when it became [the largest crowdfunding project in history](news/the-dao-could-become-the-largest-crowdfunded-project-in-history-this-week/), at one point surpassing Star Citizen's 116M USD (although it might be partially due to ETH exchange rate fluctuations). Second time - earlier this week when the DAO was hacked. So lets start from the beginning and have a look at the rise and fall of The DAO.