🎬 Video Presentation of BeyondBitcoin | EOS & Voltron | Nov 1, 2017

YouTube:

0:36 We are going to have these hangsout about the crypto sphere, combat FUD that suround EOS and all the delegate proofs take chains that exist.

EOStalk.io forums

00:55 And talk about EOStalk.io forums, shows Discord, you can see the price and it is build on Steem.

1:36 Cross chain tokens as rewards of engaging

02:30 Voltron concept: different chains and DACs working together. Think of it as different ecosystems which don't necessarily have to fight each other, they can complement each other but you need a scalable framework that allows that.

Google's succes was its minimal and fast interface

03:13 Would you use Google if it would take 1 minute to get a search result? That's why Dan Larimer talked about efficiency for so long.

03:54 Urge you to subscribe to EOS.io, the official YouTube channel.

04:36 A big shout out to the bitshares community who made all of this possible by helping to fund of the toolkits and that started delegated proof stake and started us on this road.

5:04 Updates on EOS.io in the EOStalk.io forums in the Official Announcement section. Showing EOStalk.io You can be upvoted (or downvoted by trolls) and make a bit of money since the forum works on Steem.

05:37 For people saying EOS is vaporware EOStalk.io is build on Steem, a crypto currency blockchain, as is chain.bb.

6:38 Upvoting is nice, you can appreciate people by putting money where your mouth is.

07:01 because all the non scalable crypto currencies don't want you to know about this.

07:35 Fun live voltron responds by the community. Please share our talks!

08:59 Direct connection to Dan for questions in case Fuzzy doesn't know.

Video

9:24 Starts playing "Scaling Blockchain Computation and Storage by Daniel Larimer"

So today I'm going to talk about scaling, blockchain infrastructure and storage. I've been in the blockchain space since 2009, when I first started investigating Bitcoin and in that time we've watched the technology mature as we try to scale it to handle more and more use cases.

So in that time I created bitshares back in 2013 to build a decentralized exchange, and in order to do that, we had to really increase throughput and then in 2016 I created Steam, the world's first decentralized social media platform, which really had to push the boundaries of usability is the first blockchain so easy to use, you didn't even realize you're on a blockchain.

Then this year I took out all those lessons learned to build. A EOS was announced just this past May, and it's a smart contract platform designed for parallel execution to scale to millions of transactions per second.

EOS is like an Operating System on your computer

10:42 That means that you're talking about not only one chain where you have just one process, that's running kind of like a single threaded computation. You're talking about multiple threads, that can run different processes and, if you think of it, kind of like in terms of an operating system - that's that's where we're going here.

And he's talking about various chains all being able to exist and have scalability in the millions of transactions per second on EOS which is absolutely insane considering that. Dan has given very nice estimates like for Ethereum saying that they have a maximum of 500 transactions per second.

I actually hear it's less than 30, which @Akrid and I have talked about actually in the past.

11:54 Question from the audience: Don Coulter says will bitshares move over to EOS and do you think it's a good buy at 8 cents? A: We don't want to give price estimates. But BTS has been going up significantly.

BitShares

12:38 Let's compare to Google, imagine if other blockchains provide a service kind of like Google or your credit card ATM. If you swipe your card or you search on Google, and it takes you minutes, mass adoption is not going to happen. So when you look at bitshares, bitshares is number one in transactions in the world right now, despite being delisting from Bittrex.

Maybe Bittrex thought that they could harm bitshares, but it's a decentralized exchange. So all they've essentially done well. Bitshares is ahead of Bitcoin in daily transactions. Its value proposition is huge, you can actually have your EOS on Bitshares right now.

14:03 BitShares was made by this same guy who made EOS; Dan Larimer and a team of other people in the bitshares ecosystem. His dad, Stan Larimer is a retired rocket scientist for the Air Force, is still there. @Xeroc is still there also. But BitShares is single threaded and EOS is multithreaded.

EOS Storage video continued

15:15 Moving to EOS storage playing same video. Scaling Blockchain Computation and Storage by Daniel Larimer

People been trying to do decentralized storage for a long time. In fact, I was trying to do decentralized storage before I even got into Bitcoin and cryptocurrency. This is a very tough problem. You've got projects out there, [like] filecoin storage, MaidSafe, they're all trying to incentivize users to host content and to store files and to provide the bandwidth to fetching those files and they all operate on a fee based model, a micro payment model where you don't necessarily know or trust the people who are storing your files.

Now this creates a big issue. If you're trying to host your images for Steemit on them, [say on] one of these storage systems. Your users aren't going to pay every time they download a file. So this makes public hosting very, very difficult.

Furthermore, there's a lot of legal liabilities associated with participate in these networks, because people encrypted all kinds of content that could cause problems for the people participating in the network.

All these micro payments end up putting transactions onto the block every single month, just to keep the status quo and, as we've already seen, blockchains can't handle the current transaction volume. So these things are going to be bottlenecked by other blockchain payment infrastructure in addition to all the barriers from a user experience point of view.

We like to change this by turning the economics on end and introduce EOS storage. EOS storage is the first decentralized storage, with high speed hosting of content that has no fees for storage or bandwidth.

There's no purchase necessary, instead, users lock tokens. Every user in the system has some tokens that entitle them to bandwidth and storage. When they no longer need the storage or bandwidth, they can delete their files and get their tokens back.

Stake instead of paying for every transaction

18:30 The fact that there's no purchase necessary for the user is very important. Imagine if you were going to, let's take the Google model again. And let's say you're going to pay for every time that you search, you are going to pay a little, [like] only a penny. Maybe that comes out of your account. But there's a psychological thing where people tend to not want to do that. They would rather have those fees paid in another way that doesn't seem as psychologically traumatic.

19:13 Instead you buy bandwidth from the Internet service provider and it's a monthly thing. But it's usually not liked by megabyte. So it's not necessarily where you're actually paying every second that you're on the internet. You're actually just paying for a share proportional to everybody else in the network.

And people are not all using capacity of the internet all at once. They're generally using it at peak times. But there are other times that are lower and you can get a lot of the bandwidth at different times. So you actually have services that that will do things at non peak hours for various reasons.

So what Dan is talking about here is; if you can lock up your tokens and while you have your tokens locked away you're using that storage. Now you can take them out when it's no longer needed. Now you're actually paying nothing other than the associated cost with those tokens potentially going down in price.

20:32 But if people really like this ecosystem, then the tokens might even go up in price. So there's a very real possibility that by walking up these tokens you could even make money when you pull them out. If you don't need them anymore and you just get rid of them.

If you look at the transactional model everywhere else in crypto, it's not like EOS. Essentially, you have transaction fees for every time you send. And this might be a valuable thing.

EOS' business model

Some people actually say that EOS doesn't have a business model, and this is one of the problems with EOS. Actually that's something that I hear in the bitshares community because they have transaction fee model at this point in time. I'm not against transaction fees. If you look at it kind of like the internet, the internet doesn't necessarily have a business model either. But it's a bigger thing than just one type of use case. That's I think where EOS is going with this is, the decentralized Internet.

22:11 Comment from the audience, Hassan Ahmad says:

I like the idea of renting out your EOS tokens, so larger organizations can store large amounts of data for a fraction of the cost of buying the tokens themselves.

Imagine if you could invest in the internet as a public service

This is where I get so frigging excited because you're 100 % right. Like imagine if everything were switched around today and the internet, as you know it, you could actually invest in the Internet, as a public service.

So not Google owning and controlling it and doing all of what they do. You actually own part of it, or part of many of them, because there might be multiple Internets. The cool thing about this is when you have a stake in let's say Comcast. If I owned a stake in their company, imagine if I can store away tokens and that stake that took those tokens that are locked away, they give me monthly bandwidth to download stuff and to do things. And if I have an overage of that now, I can sell it to the guy next door. Or if he doesn't then to all these different businesses that might want them.

So you actually might have Comcast saying "we have businesses that want to buy these things off of you" and sending you letters in the mail. "Do you have extra bandwidth that we that we could buy off of you for an extended period of time?"

23:59 This is where we talk about public infrastructure being owned by everybody or having the potential to be owned by everybody. It's freaking epic. While everybody else is talking about price. What are we talking about here? We're talking about a new internet, the internet of DACs.

EOS Meetups to be added to EOStalk.io

24:42 Comment from the audience, Javier Suarez is mentioning an EOS meetup in Fort Lauderdale and Florida.

I'm going to be having meetups added on EOStalk.io We have community projects, but that's not just meetups. I would like to have a place just for meetups and we are going to be adding them. So now feel free to post those meetups to community projects.

Thank you to the 22 of you who are listening live right now. What you guys are saying is precisely the type of stuff that we need people to hear. Because, let's face it, the current ecosystem is not where it needs to be. I'm not putting it down. I love crypto.

Fuzzy's history

I've been here since the very earliest days of crypto. I won't even tell my sad story about how I could be so much richer. But I've stuck around because I took an oath that I cared about and I care about our freedom. And what the foundation of America was and what we've done and what the founding fathers and our ancestors have done.

But freedom isn't just an American idea. It's something that's around the world and these things that we're trying to do here is trying to go in the direction of helping free people from these systems. Almost in some way we have to operate in an opaque manner because of the the dangers of people in the centralized power areas of power. So when we can help to decentralize those power points and have open source MIT license software so that anybody can build their own systems. We're looking at something quite amazing.

EOS crowdfunder

27:29 The EOS crowdfunder is actually buying tokens to let people know you are on that ledger who helped make this technology possible. And essentially this is a very historical time. You're going to be essentially signing your name on that list by holding these tokens.

When a bunch of projects launch different chains trying to be the the EOS you're going to see other chains that say "we're going to give the same people our token". So you might actually get to choose to be a member of many EOS ecosystems.

You might actually get to choose to be a member of many EOS ecosystems. Like you might actually have tokens in multiple chains that are competing directly with EOS because they want the attention of the people who participated in the largest non-ICO to ever exist, the largest ICO if it was an ICO.

Venture Capital behind EOS

28:45 Comment from the audience, people are just mentioning that the ledger has 1 billion dollars in VC fundind backing it. Yet it's just releasing details if you want to do a start-up now it's the best time.

They're talking about VC's, and they're not even talking about the the money that has been earned from the the sale of these tokens. Brach Pierce from the block one team was saying 700 million, which is even higher than my conservative estimates earlier of over 500 million. That's that's pretty huge in and of itself, and then you add in this VC funding and it's a pretty big deal.

Now a lot of people are saying the VC funding doesn't exist. I have a hard time believing that. Maybe they'll prove me wrong, but I have a real hard time believing it and I'm actually very comfortable saying I doubt that that's the case.

30:00 Comment from the audience,

Con jason says fuzzy for president and chris assistant: We call him president fuzzy.

No presidents, those are centralized

I would love if we all work together, so we don't have to have presidents or anybody who leads us. Last night we were going to do this live stream and we were having some issues because of connectivity and lag between the video and our talking. Quite literally, I had people who stayed up until damn near midnight with me after 5, 6 hours being online trying to help me. So I depend on people and I'm going to try my damnedest to never say that I don't. That's the fact we all depend on people, even if we're in an individualistic society.

We are creating synergy.

EOS Terms of service called the constition video

31:56 About the the Constitution is a peer-to-peer agreement it's a contract signed and counterparts if you will between every user of the system Scaling Blockchain Computation and Storage by Daniel Larimer

35:21 On Steem there's no Terms of Service.

36:15 How does community establish what the consensus is, and a constitution is a very good starting point. A constitution can also be ratified by the people within the community if they feel like there's something that needs to be added or omitted from it.

This is part of the wholy trinity; governance. Good rules essentially.

If you are citizen in a country where they said well, you don't like it just get rid of your citizenship that doesn't work.

Dan wants to build block chains and build technology that frees people right and that secures life, liberty and property.

If you don't have a steering wheel on a car, you know what I mean it can go real fast and it can kill you.

40:24 Comment from the audience: Kanye 67 says I love the fact that every time someone enters the EOS ecosystem, they are simultaneously agreeing to the terms of the community.

41:06 Similar to the declaration of Indepence.

42:23 Stack chart of how EOS is going to work

43:26 Telegram: t.me/eostalk

video from me to we

44:02 Playing EOS and the Era of DACs by Brendan Blumer, Daniel Larimer, and Brock Pierce from 10:45

44:44

Everything changes. Historically, we've built a world where it's about kind of me and proprietary things. And I'm trying to capture opportunity for myself in an environment where all of these parties have essentially aligned interests. Anything that any of you do that benefits the ecosystem benefits me. And we move from a world, that's about me to a world about we, where it's in my best interest to share all of my information and knowledge. It's in my best interest to collaborate with everyone and anyone in an environment where you've got venture capitalists, for example, focused on the development to this ecosystem. It doesn't matter if my firm makes the successful investment and enables entrepreneurs to do amazing things. If anyone does, I benefit, we all benefit and this kind of changes the structural foundation of everything.

46:42 In practice to be fair, it's not quite that easy anybody who's in these ecosystems can see that, even if the incentives are seem like they're, totally aligned, there's definitely going to be coopertition.

Aligning incentives as much as possible video

47:35 Aligning incentives as much as possible is a net benefit to society. Plays video again [EOS and the Era of DACs by Brendan Blumer, Daniel Larimer, and Brock Pierce(]

) from 11:25

To be more specific on how a decentrallized Uber could look in this environment, it's the customers, rather than paying with a credit card they could potentially get free rides proportional to how much stake they have or they could pay if they don't have stake. Pay with the additional stake to the driver and all this would be coordinated through a blockchain.
You'd have many different interfaces. Many different apps all competing to provide the best experience to the user. So rather than one company controlling the entire interface, it could work like Steemit, where there are two or three or more interface being built on top of steem, because the database is public. Normally these companies set up they've got these databases that are walled off, heavily protected, but these decentralized organizations make them public, which means anyone can use that information to provide a better user experience and when anyone does that everyone benefits the entire network grows. It's all about creating the incentives for entrepreneurs to identify ways to improve the entire ecosystem. The world just hasn't been open source. Historically, it's been a voluntary system and when there's no incentive associated with making these contributions, you're not going to get the whole world involved. Now, there's the financial incentive for the entire world to be open sourced.

49:54 The internet probably, is the most valuable after the very basic necessities like air and water. After maybe shelter and clothing internet is right up there on Maslow's hierarchy of needs. If you're not a connected person in today's age, you're definitely not as empowered as you could be.

You might literally get a hundred Uber coupons sent to your phone every month, because you're storing your EOS with them. And those uber coupons are worth free rides. You can pass them out to friends on holidays. You can use them yourself. You can sell them on eBay.

Around the holidays, these suckers tend to go up in price. Or on Saturday or Friday nights they go up in price because people are getting ready to go out.

Cross-chain tokens Whaleshares and BeyondBits explained

53:00 whaleshares explained, you send whaleshares or beyondbits you got by doing community worl or service and you can let your work be upvoted by sending 1-100 of either whaleshares or beyondbit tokens to an account and with that you'll get an upvote with 1-100% upvote power which is worth around $30 currently for 100 beyondbits.

55:45 between multiple chains

56:37 Tokenization and gamefication

How business could profit from giving out tokens to their employees. Employess could have token/points for their family. Like literally eating your own 'dogfood' so to speak. You might expect it to keep the quality up because now you have this feedback mechanism.

59:19 More tokens = more decentralization

59:22 EOS is going to be able to run everything (every blockchain out there)

59:45 the fairest possible mining circumstances because dan has

60:23 problems of centralization and mining

62:26 we can kind of take what they're saying about EOS and expound on it

63:16 bitshares and Steem have more transactions than BitCoin

64:07 visa 40.000 transcations, Facebook??, Ethereum 500, BitShares over 3000 operations per sec. tested

66:25 there will be other Decentralized eXchanges on EOS but BitShares showed it was possible.

67:22 BitShares as the number one chain in terms of transactions in the world

About the EOS' ICO and why it takes so much time

68:13 people who are whales love a short capped ICO, they create a Fear of missing out and pump up the price before dumping. Dan did the exact with EOS, said we're gonna have the first 20% in day one that will help establish a price, and each day a chunk called simulated mining. It forces Whales to buy a little bit at a time which brings more equal opportunity in acquiring stake, unlike what happened on Steem where there was mining at the beginning and now there is centralization because some early miners who are now whales have 10.000x Steem Power then Minnows (newbies).

71:26 For anybody who disagrees with EOS look at Bitcoin it's deflationary, it's been a longer quote-unquote 'crowd fund' than EOS by far, about ten years now.

72:51 EOS meetups @officialfuzzy has connections to the EOS events team, going to definitely be working to help them out in his own way. >Not hired by them but I have plans.

73:20 EOS community projects and meetups on EOStalk.io

Reach out to us if you are doing meetups

73:31 If anyone is running a meetup consider reaching out to Fuzzy aka @officialfuzzy and he'll provide some cross platform tokens that work today unlike things like Smart Media Tokens / #SMT. Upvotes are within 30 seconds which I can confirm. People with event or meetups who are serious enough will be live streamed.

74:58 Many people are working hard in the ecosystem to build value with these new tools and the EOS team has seen many of them, and are saying please show us what you have got.

75:50 Thanks very much and thank you guys to the background crew.

76:15 There are a lot of people who don't like EOS, they do not like the fact what it represents that they have not accomplished yet and they're afraid too that they're going to be destroyed something.

77:28 Lisk is BitShares 1.0 technology, don't fall behind, now you have Bitcoin gold.