Free Transcript Project #8

===========================================

Source video
—————-
Title : “Bitcoins & Gravy” podcast
Episode 17 : “Solar Power & World’s Smallest Computer

URL : http://youtu.be/qFplul7dbX8

Organization         : “Bitcoins & Gravy” (podcast)

Web Site
http://bitcoinsandgravy.com
https://letstalkbitcoin.com/blog/post/bitcoins-gravy-17-solar-power-worlds-smallest-computer

YouTube Channel

http://bit.ly/1urBhr0

Co-host #1               :  John Barret
Contact                     :  howdy@bitcoinsandgravy.com

Co-host #2               :  Lij Shaw
Contact                     :  http://www.thetoyboxstudio.com/

Guest #1                   : Nissan Bahar
Web Site                   : http://keepod.org/

Guest #2                   : Nick Gogerty
Contact                      : LinkedIn Profile : Nick Gogerty
Web Site                    : http://www.solarcoin.org

Announcer                 : Adam B. Levine (Founder of the “Let’s Talk BItcoin” network)
Contact                      : adam@letstalk bitcoin.com
web site                      : http://ww.letstalkbitcoin.com

==============================================

Transcript
————-

Announcer (Adam B. Levine) : This program is intended for informational and educational purposes only. All views and opinions expressed are the views and opinions of the individuals and sponsors presenting them, and not the LTB network. Enjoy the show.

————————————————————————————————————————————

John Barret (Co-host 1) : Welcome to “Bitcoins and Gravy”, episode 17.

Lij Shaw (Co-host 2) : On http://www.bitcoinaverage.com, Bitcoins are trading at $0.49 per millibit. That’s $490 per Bitcoin, a significant increase this week over the last few weeks, where Bitcoin was hovering in the lower 400s to mid-400s. Sounds like Bitcoin may have been listening to our last podcast – Episode 16 – talking about Greek coffee, finding the right dire, and a proper rise for Bitcoin.

John Barret : Mmmm… Mmmmm… Mmmmm. Now that’s gravy.

[intro music]

John : Welcome to “Bitcoins and Gravy”, and thanks for joining us today as we podcast from East Nashville, Tennessee. I’m John Barret.

Liz : And I’m Lij Shaw.

John  : We’re two Bitcoin enthusiasts who love to talk about Bitcoins.

Liz : And share what we learn with you, the listener. Welcome to “Bitcoins and Gravy” and thanks for listening.

[end of intro and music]

On today’s show Lij and I travel to Tel Aviv, Isreal to speak with Nissan Bahar. Nissan is one of the core developers of “Keepod” – a simple and inexpensive technology that may be able to help to bridge the digital divide that we  see in the world today. Together we discover that there are over 5 billion people – that’s 2/3 of the world’s population – who still don’t have access to a computer or a smartphone. Hey people, that’s a lot of people!

Lij : We also continue our “To The Sun” series, as we talk with SolarCoin’s very own Nick Gogerty – the founder of SolarCoin. Nick wrote the whitepaper on SolarCoin, and he’s just the guy we’ve been waiting to talk with to get the final details on the SolarCoin project, and what we can expect to see in the years ahead. The future definitely looks bright for SolarCoin, and for solar energy. You know, maybe it really is time we started paying more attention to that massive, flaming ball of nuclear energy in the sky. After all, it really is our very own, naturally occurring nuclear power plant.  Oh yeah, but without the problems like nuclear waste and Fukushima-style meltdowns.

[music]

John : Today Lij and I are thrilled to be speaking with a gentleman in Tel Aviv Isreal, Nissan Bahar.

Lij : Hey Nissan. Welcome to the show. Welcome to “Bitcoins and Gravy”.

John : Welcome to the show Nissan.

Nissan : Thank you. Thank you for having me here.

John : Nissan is one of the core developers of “Keepod” – a simple and inexpensive technology which may be able to bridge the digital divide that we see in the world today.  Nissan, can you tell us – first of all – all little bit about yourself and then tell us about Keepod.

Nissan : Yeah, sure. So I was born in Isreal, and living in Italy actually in the last 10 years or so, where I met my business partner, Franky – who is the co-founder of Keepod. I’m coming from a background in technology – mainly information security. I’ve been doing security for many large enterprises : banks, telecoms, energy companies, and so – in Europe. We started with Keepod a few years ago as a security product, which was targeting that market. Then about a year ago we decided that it was time to do something better with the technology that we developed, and with the knowledge that we gathered – and started what you see today as the Keepod project.

Lij : Wow, interesting. So it started out as a security project, and it evolved into this miniature computer that’s going to save the world and bring computing power to the other 5 billion people in the world.

John : We hope so. Yeah.

Nisan : Well, yeah.

Lij : So tell us what Keepod is now, because it’s pretty fascinating.

Nissan : So Keepod is a project, first of all. It’s not just the product, because it’s an ecosystem of tools, conditions and organizations that are making this happen. First of all we have the actual operating system. Keepod is an operating system which was designed to jump between one computer to another. We are not inventing here anything new, because “OS-on-a-stick” is something that geeks and hackers have been using for many years now. What we are doing here is really targeting it as the main system of the user – which is not something that is being done today. So we decided to go with Android, which is the most common operating system today, in the world. So we are running Android 4.4 Kit-kat on your desktop. And it is beautiful. So imagine having “What’s App” and your favorite applications on the big screen. It’s very lightweight. It’s very powerful. We’ve reduced the footprint of the system to something like 300 MB, which is really tiny for a desktop OS. And it is very intuitive. So where we are going – where people don’t have access to computers – they find themselves with something more familiar, because there are markets, like India – where you have 94% penetration of mobile, and over 50% of which is smartphone. So they find something that is familiar to them – very intuitive. And people who don’t know it at all, the learning curve is very fast. The biggest and best example I have is the project we just did in Nairobi. We went to three schools there, and kids who were 9 to 13 years old – something like that, who never saw a computer and never worked on a computer – after two hours they were sending us emails.

Lij : Wow!

John : So, Nisan, how did you decide to go to Nairobi? And can you tell us a little bit about the “Why Not Academy“? I’m sure there are many acadamies like that in the world, but why Nairobi? And what city were you in there?

Nissan : Yeah, so we went to Mathare, which is one of the largest slums in Africa. It’s the second largest slum in Nairobi, after Kibera. It’s home for 500 thousand people who live in incredible conditions. We were looking for a first project, and our interest was to go and do it in a place where the conditions would be difficult for implementation – where we were going to find ourselves in an environment which was not so “tech ready” – like we might have in other areas. From the other end, it is a perfect place for starting people, because the language barrier is not so big, because they speak English there – quite good. And there is connectivity. We can get 3G access in Nairobi.

We went there an we met the guys there at “LiveInSlums” – it’s an NGO that works in slums around the world. They work in Brazil. They work in Cairo – if I’m not mistaken. They work in Nairobi. And they presented to us the “Why Not Academy“. It is a school that they have built in Mathare. They support this school. It’s a “street school”. It’s one of many. Kids there don’t have the means even to go to the public schools. And those street schools – that are mainly supported by charity – are the only thing the kids have.

John : The “Why Not Academy” is a new school, is that right?

Nissan : Yeah, it is a new school. The guys from “Liven Slums” built it. They practically built it, really. They sent a group of people. The designed it. They build the school, the facilities. They built a vegetable garden – which is feeding the school – inside the slum. It’s an incredible agricultural project. They hooked it to the power – although it’s not really legal, the power – there is power. Also it is operating, and it s a really nice initiative. And when we heard about it we felt that Keepod might be a good fit, and that we could bring — with access to information in the end, which is what Keepod is all about – education might be empowered there. And also, not only that, that school is actually a base for other projects like the organic agriculture, which require information and access to techniques. Also an HIV prevention initiative, human rights initiatives, and so on. They are all gathered in that place. So it is all little projects that require access to information, to technology, and to computers, for different reasons.

John : Wow! How did you first hear about that.

Nissan : We met in Milan. “LiveInSlums” is an Italian NGO. So we met with the NGO looking for one of their projects to see if it is interesting. They told us about Mathare, and we met some members of the community that were brought to Milan by the “LiveInSlums” team, and we really fell in love with the place – the people and the stories. And when we went there it was quite an incredible thing. So, Nairobi is not the safest place in the world, you know? But in the slum, we felt really calm. People were expecting for this. People really embraced us. We went inside the slum and lived with them for more than a week there – just setting up the place : the hub, the school, the connectivity and everything. And we never felt so secure. And the reaction and the hunger there is for these kinds of technologies is incredible.

The more amazing thing is is that there are connected to the world in terms that they know there is Facebook, they know there is Google, they know there is Apple, and so on. If you go outside of Mathare and just go to the highway, you see billboards for the new “MacBook Air” that it looks like you are traveling in California. They don’t have access to it, but they are absolutely interested in it. So the moment we presented it the first thing that they started doing was actually creating an email account on Gmail, or a Facebook account, or stuff like that.

Lij : Wow! That’s pretty fascinating. So I just want to jump back for a moment and clarify a little further. We’re talking about an operating system for Android on a USB stick that is called “Keepod”, that can be given to people –  since USB sticks are extremely afforable and much easier to get to people who can’t afford something like a “MacBook Air” in Nairobi. So this system can recycle and reuse older computers, right? Is that the way this works? You can take an old PC laptop, or an old Macintosh that somebody else has discarded, and use this system with the USB stick to bring it back to life and use Android on it?

Nissan : What we do here is we break a few paradigms, that breaking them will allow bridging the digital divide, in our opinion. The first one is we don’t think that it is sustainable or possible to bring a laptop per person in the world.

Lij : Sure.

Nissan : Okay? That’s just impossible. It’s not scalable. It’s not sustainable. There’s not enough material in the world for that. Okay? So this is the first thing. In order to bring personal computing to everyone we can use shared computers wisely. And in order to do that we separate the operating system from the host. So the operating system is not sitting inside the hard drive, but it’s sitting on a thumb drive. By doing that we actually are able to guarantee all kinds of things – especially better privacy, better security, avoiding malfunctions misconfiguration of the host, or virus spread on the old system – and so on and so on. And the computers live longer. Another thing that we do is, we say that instead of trying to manufacture cheap computers – which is what everyone is trying to do : cheap laptops, cheap tablets, and so on – they will never be cheap enough. Even $50 is too much. And in a world where only in the United States there are 85,000 computers thrown away each single day.

John : Wow!

Nissan : We can find computers. We can bring them to a new home. And yes, if they are old computers I can use Keepod in a very smart way, because it is going to be a shared computer with no hard drive, with no host operating system. You just go there, plug in, and “Boom!” Android is very slim. It doesn’t require a lot of power. It doesn’t require resources. When I remove the Keepod the next user can go there and have his own private operating system – his own private computing environment. We compare ourselves a little bit to public transportation. Think about it. It’s like everybody would like to have a nice car. Not everybody can afford it. So you hop on a bus. It’s not as shiny. Sometimes the air conditioner is not working, but it gets you to work, right?

John : Yeah. That’s a good analogy.

Nissan : So, we’re doing the same thing here. The same thing. But we do it at the street level.  We do it in a way that the distribution model that we have chosen, and the approach to it is going to work from one hand – yes – through organizations, through people who are active in the field, and so on. But we are also going to enable this to have direct access.  People will be able to download the operation system for free. People will be able to create grassroots projects – which is what we are all about. Since we have started we are saying to people, “Okay. I am traveling next month to Kenya. I want to bring with me my two old laptops and – I don’t know – 20 devices, or 40 devices. Let me know where they are needed.”

John : That’s really cool.

Lij : Yeah, it’s fascinating. I think the first thing that was a little hard for me to understand was the concept of, “How do you get a laptop to live on a USB stick?” But the brilliant thing about what you are doing is that you don’t need to use all of the massive processing power of the laptop. By using the Android system it’s very simple. It’s as simple as what I am used to on my phone, which is already super capable and powerful.

John : Let me ask you, Nissan. Are they taking the hard drives out of these used laptops first? Is that the first thing, to just get the hard drive out of there?

Nissan : Yeah, so we prefer that the laptop will arrive without a hard drive. We sat with local technicians — like in Mathare we did exactly that. So we get the computers, and some of the computers still have hard drives. He provides services to the school. He goes and fixes what is not working, and so on. He removes the hard drives. He can keep them, and he can sell them. And actually it is a pretty good deal for these guys. So he can get up to $60 or $70  for a hard drive there, which is quite a lot for Mathare.

Lij : Also, you mentioned security – and that’s how you got into this. Does this actually increase your security and protection from viruses and things of that nature – from the internet – by not having a hard drive, and just using this Android operating system?

Nissan : Yup. First of all, if the user got infected by malware or a virus, it doesn’t affect the next users. Okay? Because, think about it, you use the computer – the operating system – and then you go out and there is nothing on the host. The next user is booting his own operating system, which is completely separated.

John : So that person goes away with their Keepod that has the virus on it, and if they knew that they could just get another Keepod. Is that right?

Nissan : Yeah. They can just reset it – flash it – and “Boom!”

John : Is there a  way to fix, or to get rid of a virus that gets onto somebody’s Keepod so that they don’t have to erase it and all of their information is gone as well.

Nisan : One way – and it’s actually a prevention way, which is ideal – is just go to the app store, download an anti-virus software and then you are covered there. If not, you can always reset the device and just restore to the manufacturer settings, and you get to OS fresh and new. Then you restore your data and you’re good to go.  So this is one thing.  The second thing – which I think is even more important – is that you are not leaving any footprint of your activity on the computer that you used. Data is not linking from one computer to another. And – if you think about education and shared computer environments – I actually got this comment from the United States, and it was so true. I was speaking with one school, and they were saying, “This is ideal for us, because kids always go to the library or to the computer class, and they log in to Facebook but they don’t log out. And if another kid goes to that computer, he can ruin your social life in five minutes”.

Lij : [laughter] Oh man.

John : Sad but true.

Lij : So it’s cool what you say in your analogy about footprints. It reminds me of when you go visit a national park and they say, “Take nothing but pictures, and leave nothing but footprints.” But with Keepod you can take just about anything you want and not even leave footprints behind.  That’s pretty cool.

John : Nice. That is cool, man. That;s great.

Lij : What are some of the limitations as far as which computers this might work on, or might not work on.  Is this going t o work on just about anything?

Nissan : We’re targeting desktops, first of all. So at this moment we are not working with or targeting tablets, and obviously smartphones. That is real-time ability, and we categorize it as — actually there is a good balance between the two if you want to discuss this. Now we’re targeting [X86?] systems, but we prefer not older than 2006 computers. [This is] because we don’t want to get, first of all, junk – because there is no sense in bringing in something that won’t work properly. And because of – in terms of computing power – any news web site, or whatever, will require some computing power, right? And if the computer is too old it’s just not up to the latest web sites and web apps. So we need to have 1 GB of RAM. We want to have at least a first generation of Dual Core. This means 2006.

Lij : I was going to say, “Yeah. Whew! My laptop is just going to make the cut.” I think I’m still running a 2007 MacBook.

John : Oh man. So, as far as the United States – let’s take Nashville, or any other city that has public schools, and that has, let’s say, maybe not the best educational system set up with the US public schools. My friend works in the public school system in the south side of Chicago, and I would guess that the students there are less interested in learning than some of the students you met there in Nairobi. So there are lot’s of problems in the public schools in the south side of Chicago, as there are in other cities in the U.S. Do you have plans to bring Keepod to these cities. Are there organizations that are interested in Keepod now in the U.S.?

Nissan : It’s actually happening right now. The cool thing about it is that in the last ten days , since there was a major story in the BBC about us, and then “Boom!”, things started to roll really quickly. We got a lot of requests from the United States. Both from the more charity side, and on the other, from the education side. The U.S. is very interesting for us. I don’t know if you know this, but 20% of the U.S. population don’t have access to computers at this moment.

John : I believe that.

Lij : Yeah, I believe that too. I work in the public school system here in Nashville, and I’ve worked with many kids who don’t have access to computers – other than at school itself.

Nisan : So, first of all, yeah. So definitely the United States is currently a target for Keepod. The idea is that we don’t require – and we don’t need – distributors, or official channels in order to move. What we have created is, from one end, the possibility to do a grassroots project, So, anyone can decide to start a Keepod project. And in the United States this is happening. We’ve got people who have started to order devices. They get our computers. If they need our assistance to get refurbished computers, we help them – if it’s a school or if it’s a community center, and so on. The second that we did is we started the program – now it’s in beta, and we are getting applications at this moment – for what we call a “Keepod Point”. A “Keepod Point” means that anyone – really anyone – who has the space to do this, can be a Keepod reseller. What does it mean? That you can get Keepod and sell them to your local community. The condition is that you have at least two computers that are available for public access. Okay? So you can be a little coffee shop, you can be a bar, you can be community center, you can be anything. This is starting to get really popular. We’ve got a lot of requeats from the United States, actually, – form the different states. So we are working on both directions. From one hand helping people and organizations who want to do this as a project, and from the other end people who take the initiative and want to create their own Keepod point and enable access to information.

John : So hey, is there any way that we can get you and Franky to come here to the United States, and maybe we can all take a trip up to Chicago and do one of our shows from there?

Nisan : We would love that?

John : Or right here in Nashville, right? We could do a show right here in Nashville.

Nisan : I’ve never been in Nashville. I play guitar, and this is one of the places I want to go.

John : Hell yeah. You know, Lij has the Toybox Studio. This is perfect. You can come here and record. And, you know, this board that he has here is the same board that recorded “Hotel California”. I don’t know if that, Nissan.

Nisan : Are you serious?

Lij : Yeah, it’s the very same one. It makes sense to me that you would be a musician. When I first heard about Keepod I thought it was some sort of MIDI control or a keypad. Then I learned that it was just to help people get smarted and connect around the world.

Nissan : We are really connected to the music world. It is one of the things, if you look at how we move and how we do things, we are working as a startup. But the mood there, is really, really a lot about the artistic side. Not only [me], but my business partner is actually a filmmaker, Franky. He’s not coming from technology. This guy did videos with Red Bull and Barton snowboards in the last 10 years, doing extreme sports.

John : Oh wow. You know, when I watched the BBC special it looked like you guys were having a lot of fun and I enjoyed that so much. I got really excited when I first heard about Keepod, and I started combing the internet for more information about it. That’s when I landed on a Reddit page,  and they were discussing Keepod. One of the posters there – one of the people who wrote in –  wrote that you were considering including a Bitcoin wallet on every Keepod flash drive. So we would love to know that this is true, but at this point it is really just a rumor. And we actually don’t really enough know if you know what much about Bitcoin, or if you have interest in Bitcoin. I am guessing you might.

Nissan : So, it is a very interesting opportunity, because we think – we don’t know yet. Okay, so we are actually studying this – and actually anyone who can contribute to the idea, and to us understanding better – is very welcome to do that.  Because we are trying to understand if this is something that can actually empower the people we are targeting. My feeling is that, yes. And my feeling is that Keepod feels like a very good match for Bitcoin, both from the OS side, and the fact that you have your own hardware is perfect. And the idea that you actually bypass so many limitations that we have today when it comes to money transfer, and getting funds from one place to the other or one person to the other, this might be very interesting. In Nairobi we see something that is called M-pesa. I don’t know if you know that?

Lij and John : Yeah.

Nissan : Yeah, so they do everything with mobile payments. They don’t use cash. And I don’t see any reason why they would not be eager to do that with Bitcoin. So, you know, it’s an opportunity.

Lij : Yeah, I mean in the Bitcoin world, just the concept of having an operating system built into a USB flash drive and using that in order to create wallets and sent Bitcoins back and forth. That’s already in existence. That’s already the smartest way to carefully and securley create your wallets.

John : Right, and I think that anybody using Bitcoin, if they can take their Keepod out of the computer, knowing they’re not leaving any trail at all, what a thrilling thing for new Bitcoin adapters, and really for anybody that uses Bitcoin on their computer. Because that’s a big fear is that after you’re finished doing whatever you’re doing with Bitcoin, or with this site or that site, you’ve left information there, and that computer can be hacked, and then people can steal your private keys for the Bitcoin. So that’s something that seems really important. You know, Andreas Antonopoulis, I remember him talking about how it’s difficult here in the United States to get people interested in Bitcoin because you have to go through this long explanation, plus you’re fighting what the media has to say about money laundering and all these scary things. But when he went to Kenya, and he talked to the people there, as soon as he said, “Oh, it’s like Empesa.” they immediately understood what Bitcoin was. I thought that was so cool, so I think the same thing would be true in Nairobi and other places in Africa.

Nissan :  Since the Reddit discussion started, I’ve gotten requests from India, China, Malaysia, and some other countries saying, “Are you going to do that?” And they really dig this. It looks like they completely understand what is the potential here. You have a strong community there of people who understand what Bitcoin is, so we will be happy to get some advice there, and to see if we can design something smart into this. Because, indeed we don’t know this world very good. We are not experts in Bitcoin, and if the scale that we are looking to do here with Keepod, and for the project to work, we need to design it properly, and make the right choices.

Lij : Well Nissan, let’s use this opportunity here to put a call out to our listeners, and ask them for contributions of any comments or ideas they may have for what will work well for Keepod. We’ll make sure that that gets to you.

John : Calling all listeners. Calling all listeners… Yeah, yeah, absolutely Lij.

Lij : Well Nisan, thank you so much for joining us here on “Bitcoins and Gravy” today. The Keepod project is just really fascinating stuff. And the concept that you might be able to bring this together with Bitcoin just seems to make a whole lot of sense. I know that there’s lot’s to explore, but it sure sounds like it’s a perfect fit.

John : It really does, and just thinking about the disenfranchised people here in the United States – in the cities, and just throughout the country – who really don’t have any access to what a lot of other people do. It just seems like such an important thing that you guys are doing, and it sounds to me like you guys are not doing this to try to make a bunch of money. You guys are doing this to really help, is that right?

Nissan : That’s true.  Everybody looks at me kind of weird when I talk about this. We went to our accountant, and he was like, “Okay. I’m not used to having customers like you. I don’t know how to handle this.”

John : Oh, man.

Lij : It’s a little bit like when Nicola Tesla was talking with J.P. Morgan, and Morgan looked at him and was like, “How are we going to charge for this? I don’t understand?” And he was offering free energy to the world.

John : Oh, man. Well, I think that what you guys are doing is fantastic. And again, watching that BBC video, everybody should watch it. Can you tell our listeners how they can watch that BBC video, and also how they can find you, and how they can get involved.

Nissan : “Keepod BBC” on Google will definitely bring that up. Keepod.org is our url. You can go there. There are a lot of links in the blog. For sure, you will also see the video for the BBC. And that’s it. Guys, it was really a pleasure talking with you, and I really thank you for the kind words, and the ideas that you’re pitching here with the Bitcoin is amazing for us.

John : I would have to say that if you get a chance to listen to Andreas Antonopolous, he’s the Bitcoin guru, really. Just go and listen to some YouTube videos, and listen to him speak. He’s a great educator, he’s a great speaker, and his heart is in the right place. He’s the one that talks about the other 6 1/2 billion other people in the world that don’t have financial systems – or access to financial systems – like we do, who are basically financially disenfranchised. So when you’re talking about helping the 5 1/2 people who don’t have computers and don’t have cell phones, and access to that, he’s talking about pretty much the same thing. So I think you guys could work hand-in-hand. I would love to see, somehow, you and Andreas get together and have a meeting of great minds.

Nisan : That would be amazing. It sounds so in line with what we are doing. I told you, Keepod is about not only the operating system, but about an ecosystem.  Ecosystem means a lot of things around it. It can be from the more simple things we’ve been talking about, like refurbishing computers – how to get the 85,000 computers thown away each day, to Nairobi or whatever. But it’s also what’s surrounding it. And the financial system is a key, key element in this. You know?

Lij : I like it when you say “ecosystem”. It sounded a little bit like “equal system” to me. You’re really, kind of, creating an “equal system” to just bring equality of computing to people around the world.

Nisan : That’s actually the idea.

John : Nice.

Nisan : Guys. This is amazing. So, I’m so happy we connected. Really. Let’s talk soon then. Keep in touch. Really.

John : Thanks Nissan.

Nisan : Cheers. Bye bye.

[music]

John : So Lij, I need to talk about the “Bitcoins and Gravy” contest for a minute. On last week’s show we told our listeners about how they can enter to win 0.25 Bitcoins. That’s one quarter of a Bitcoin, and that calls for a hearty : “Mmmm…Mmmm…Mmmm”. So if you’re interested in entering the contest, here’s what you do. Using your Smartphone, video camera – or any video camera – record yourself singing along, playing along, or dancing along to the song “Ode To Satoshi”. You’re performance can be ten seconds long, or three minutes long.  That’s up to you, the listener, and how creative you feel like being. Once you’ve recorded you’re performance, upload it to YouTube and give it a name. Then email us, or call us on the hotline, and let us know how to find you on YouTube. If you need further technical assistance, just ask. We’re happy to help. That’s right, we’re making a music video for the song, and we want you the listener to be in the video. Since we know that we’re going to get more than just a few submission, Lij and I have decided that we’re going to include at least a half a dozen or more of these performances in the video. So how are we going to decide who the winner is? That’s easy. The winner is the one that Lij and I like the best. So get out your video cameras and start creating for the chance to win 0.25 Bitcoins. “Mmmm…mmmmm…mmmmm. Now that’s gravy.”

[segway music]

John : So today we welcome Nick Gogerty, the founder of SolarCoin, and principal of value-creation consulting firm “Thoughful Capital Group”. Nick, welcome to the show.

Nick Gogerty : Thank you very much. I’m excited to be here.

Lij : Nick, it’s a pleasure to have you here on “Bitcoins and Gravy” with us.

John : So Nick, where would you like to start? I know that you’ve written a book titled “The Nature of Value : How to invest In the Adaptive Economy”. Can you tell us what you mean by the “adaptive economy” and how that fits in with SolarCoin? I know you have an extensive background in investing and economy. How does all of this fit into SolarCoin?

Nick : The book “The Nature of Value” deals with the economy, and the creation of economic value as an adaptive process – and the process acts a lot like nature. I spent personally about 25 years investing, and working with different groups – including the world’s largest banks and hedge funds – and in four years of that research I boiled down to that book. Part of that book deals with money, and how money works, and that kind of deals with SolarCoin, and the creation of that.

Lij : MmmHmmm.

Nick : Basically, the thinking behind SolarCoin is that a currency, or a form of money, effectively is – and this is going to sound  a little strange – but it’s really a social protocol. Money is a way for all of us to exchange value efficiently. And so as a social protocol, the more people that agree to and accept a form of money – whether it be dollars, gold, Bitcoin, SolarCoin, etc. – the more utility, or the more value, that form of money  – that currency – has.  And that’s part of the research that came out of the book, and the part of my work involved in that. My background in foreign currency goes back to the age of 17, when I was trading Japanese Yen futures. That was back in 1987. So being a proprietary trader for one of the world’s largest banks in London – which is, kind of, the ForEx headquarters of the world – and having worked for various hedge funds here in the states. So a bit of background in money, and some other things. And, of course, the book is being put out by Columbia University – the same place where Warren Buffet went to school – and the book is on value. So, I’ve got a bit of a background in economics and money.

John : Well, that’s pretty impressive. I think we should begin by maybe bragging about you a little bit. You worked with the world’s largest hedge fund, “Bridgewater Associates”, $150 billion. Being a quantitative ForEx analyst for “Banque Nacionale De Paris”, $2 trillion balance sheet. Founding software startup and strategic risk firms. Chief analyst at Starlab, a deep future, multidisciplinary science research institute. And I think there was something in there that had to do with research into time machines, or something like that? Black holes and time machines?

Nick : [laughter] Exactly. At one point the institute was modeled on the MIT Media Lab, and had some people from the MIT Media Lab on board. And there was a theoretical physicist who was researching some of those things, among some more, let’s say what we call, “applied science” areas – material sciences, life sciences, media studies. I was overseeing three different schools of artificial intelligence at one point, in terms of research. So, it’s some interesting stuff.

John : Wow.

Nick : Yeah. It’s really fun.

John : And building risk models for global banks. I wrote that you had done that.  That’s some pretty heavy stuff, man. So you’re background in finance and investing, it seems like anybody who’s interested in investing in SolarCoin, they might want to listen to you.

Nick : [laughter] Well, ultimately everyone has to listen to themselves, and look around at what they think is correct, what they think is true and is going to be most interesting. But feel free to read what I have to say, and if you agree with the arguments it might be very interesting.

Lij : Well, so tell us more about SolarCoin and why we should be interested in investing in it.

Nick : Sure. The original idea came from a whitepaper that I drafted with co-author Joseph Zitoli, who you’ve interviewed earlier. And in that whitepaper there was the concept of an energy-backed currency. And at the time, in 2011, that concept really wasn’t feasible unless you had your own central bank [laughter], to implement. Now, with the provability, or the fact that Bitcoin technically works, and that anyone in a sense can issue a currency that is robust and transparent to over-issuance or over-circulation, that premise became viable – potentially viable – an energy-backed currency. And then, looking into it, realized that it could be used to do good by backing solar energy with that currency, and then having that currency represent solar energy. The SolarCoin idea is a subset of this energy-backed currency idea, and the realization was that the “proof of work” inherent in acting as a distribution mechanism, and as a verification mechanism, Bitcoin, instead of using a purely cryptographic “proof of work”, why not use a real-world, physical “proof of work”? And that real-world, physical “proof of work” is the production, or generation, of solar energy. And so that’s tied into SolarCoin.

What ends up happening is anyone who produces one mega-watt hour of solar energy in the world – anywhere with the facility – can claim on of these SolarCoins. And that’s viewed as an equitable means of distributing the currency, while also acting as an incentive to produce more solar energy globally. And there’s a pre-mine that was set up that’s participated for the last, at least 40 years, to incent solar energy globally.

John : Can you tell us about how the SolarCoin mining differs from Bitcoin mining?

Nick : Sure.Most of it is similar. It’s based off of a Litecoin fork, and that will produce – roughly based on the design – about 105 million coins, based on the half-life, etc. The rest of the coins were pre-mined, and so the only way to earn them – or the “proof of work” required to get those coins – is to submit a verifiable “proof of production ” of solar energy. So each verified one mega-watt hour of energy produced entitles the claimant to a SolarCoin. And to date we’ve had claimants from 11 countries, so it’s rolling out pretty well. We just gave coins out to Cypress and Austria over the weekend, and we look forward to adding more countries.

Lij : Help us understand a little bit. Scrypt mining is going to get more and more difficult as more miners get involved. It is similar to Bitcoin in that way? Will the mining become more difficult?

Nick : It’s similar to Bitcoin in the fact that the algorithm, and the effort required – something called “re-targeting” – so that it adjusts relative to the effort applied to it. So there’s a constant issuance of rate of the coin.

Lij : Okay, and them when it’s issued to people who are generating one mega-watt of solar energy, it seems that one mega-watt of solar energy is going to become easier and easier to generate as solar energy is adopted globally. How does that translate?

Nick : Yeah. So here’s what ends up happening. The mining [?], because the half-life only lasts, really, for four years. So there is a one year half-life, and about 95-95% of the coins we’ve mined in the first  four-and-a-half years. So what will end up happening is that as the mining tapers off – with the exception of, let’s say, transaction-based rewards – the real circulation mechanism will become the granting, or the basically “giving away”  of SolarCoins to people who produce solar electricity. Now one mega-watt of solar electricity is quite a bit. That’s about enough to keep the average American home powered for a month. So, what’ll end up happening is – over time, for example last year – globally there are estimated to have been about 160 million mega-watt hours of electricity produced with solar energy. That would equate to 160 million potential claimable SolarCoins. That amount grows – or is anticipated to grow – 20-30% per year, over the next 20-30 years.

John : That’s good news.

Nick : Yes it is. And the neat thing about energy – in almost any economic process, and part of the research for my book “The Nature of Value” – is that any manufacturing or production process gets cheaper as you make more of it. As more value flows through the economic system, it gets cheaper. And the cool thing about solar energy is every time we, globally. double the number of solar panels we produce – so we shift, let’s say, an extra 2X gigawatts of solar panels – the cost drops 22%. That’s kind of like a “Moore’s Law” of solar energy, and that’s held up for the last 20 or 30 years. So, to produce one solar panel that would make a watt of power, back in the 70s, cost about $1, 000. Now, it costs just under $1.

John and Lij : Wow!

Nick : And as energy is a pure commodity, it’s a price thing. So what ends up happening is you have this commodity that’s dropping in price by a factor of 22% every time you shift 2X more.

Lij : It’s quite different from gasoline.

Nick [laughter] Exactly. It get’s more difficult — well, parts of gasoline get cheaper with [drilling?], but also it gets more difficult to find it as it gets in more deeper rock formation, etc. – with the exception of shale, but we won’t get into the technical discussions on that. So the interesting thing about solar is it’s one of these things where, as you ship more solar panels and produce more energy, it gets cheaper, so you sell more. And as you sell more, it gets cheaper, faster. So, solar energy is going to be one of the most interesting things right now. It’s cost is not fixed. It’s a moving target, and so it’s going to get cheaper, better, faster, globally, very quickly. And you’re in a space – namely “global energy” – where you’re talking about $100 billions and trillions of capital investment.

John : Wow.

Nick : Solar coin acts as an incentive to help people make that choice. So, let’s say a SolarCoin – which right now has a de minimus value – but let’s say that as we grow the economy of SolarCoin holders, if it were to go to $10 per mega-watt hour, all of a sudden the individual looking at putting solar panels on their roof, or in a village or [other?] area, might say, “Oh wow! Not only do we get the solar energy, but we get the benefit of claiming the SolarCoin as an incentive. That’s pretty cool.” Now the value of a currency has two factors that drive it. One is speculative, and the other one is transactional. Economists call these two “utility functions” of a currency. So the more people that hold, or agree to, or believe in a currency, they more transactional value it has. So a dollar you can use almost globally, because everyone agrees, and they understand, what a dollar value is. The dollar protocol is global.

So the current universe of Bitcoin holders is estimated, I think, at about a half million to two-and-a-half million users – last report I saw. Now the cool thing about that is that’s pretty small in the internet world, and yet Bitcoin has the market cap of $5 to $5.5 billion dollars.

John : Right. Almost $6 billion. I like to say six billion. It makes me feel better.

Nick : So the cool thing is we are at what I call the “Compuserve Era” of this technology, or this protocol. Compuserve – if you remember back in the 80’s – everyone had email addresses that were numbers. It was clunky. Nobody used it. Nobody liked it. It was ugly. And that’s really the great news for Bitcoin. The software is horrible. The wallets aren’t user-friendly. Your aunts or uncle can’t really figure it out, etc. The great news is you’ve got a $6 billion economy out there, with something that – engineering-wise – works, but from a useability perspective is horrible. Once that useability gets solved, or improved, and we move from the “Compuserve Era” and have what I call the “AOL Moment”, you’re going to see an explosion into something really interesting, for a lot of the alt-currency spaces. What I mean by that is that is you move from a $6 billion economy to a 10X or 100X one. Whether that happens in the states, or in some other country that adopts the currency and the protocols, that remains to be seen. What isn’t known by a lot of people is the average fiat currency – or government currency – lasts 27 years. That equates to about a 3% failure rate, and I can give you guys the links on that. Now we’re used to the dollar, and the pound, and these other currencies that have been around for hundreds of years. But depending on what country you’re in , if you have a very unstable currency, and there is a problem, you might be very interested in an alt-currency that is easily accessible, not as controllable, and easy to park into a smartphone. And with $20 and $40 smartphones emerging in the next two or three years things could get very interesting, both for Bitcoin and the alt-coin space. And we think SolarCoin is going to ride along with it, and we hope to do a lot of good.

Lij : Mmm Hmm. To focus on the value of SolarCoin, in the future, wherein Bitcoin becomes harder and harder to create – and the value goes up partly through that, I think . In SolarCoin, the value is going to rise, or fluctuate, with the speculative volume, and also the ability to trade in SolarCoin and use it for transactions down into the future, even though it’s going to be easier to acquire.

Nick : Yeah. You have two sides to that equation – supply and demand. The supply side is the granting andthe mining. So the more people, the easier that it is to get SolarCoin by receiving a grant for generating electricity. Or, if mining gets harder – that’s the supply side – the demand side, which is like, “What the heck is this thing worth? What’s its value?” is going to be a mix of the speculative belief in how high, and where, it’s going in the future – and the utility function. How many people can you trade, swap, get something with this currency for. That’s about it. We’re very focused on “ease of use”, growing that economy via “ease of use”. We’re working on improving our communication and our messaging, etc. to try and get to the broader audience of people who aren’t as familiar with — and frankly, don’t even really need to know all of the plumbing under the coin.

John : Nick, one thing I’m still unclear about is, how do the producers of solar energy prove to you that they;ve produced the solar energy? What is the proof that allows you then to award them SolarCoins?

Lij : Yeah. Where’s the “proof of work”?

Nick : Sure. Exactly. The “proof of work” is a submitted verification from the energy meter in the home. So, if you have a solar panel on your roof, it produces DC power, and that gets converted into AC power for your house. That conversion goes through something called an “inverter”, and that inverter also works like a meter, and it shows exactly how much has been produced. And a lot of these things are online. So our first grant, for example – to a woman named Lisa Shockly, in Arizona – she just sent us a link to her inverter. And that feed was online. I think she is a “Solar City” customer. You can look it up online, and say, “Oh yeah. She has “X” number of solar panels on her roof” – and you can verify that in lots of ways. It ties out to what she says she claimed on the power. And the converter images and documentation all looked like that was verified.

We’re working on developing software so we can show those verifications to the community. So you’ll be able to dial up – especially for the larger solar farms – and say, “How were these verified? Who verified and said these were okay? And what was the means?”

John : I always want to say, “Can’t we just throw it onto the blockchain, time-stamp it, and say, “this is proof?”

Nick : Well, what we’re going to be doing is the grants will all go onto the blockchain, and there’ll be a transaction message that will tie out : Who the generator was – in terms of what the source was. Who made the claim? How much the claim was for? And that data is going to include the latitude of where the person is at, what’s called the “nameplate capacity”, or the capacity for the solar generating roof. So it’s going to be, “Bob Smith… Five kilo-watts on the roof… Between June and July, in Arizona.. and claimed 5 SolarCoin.” etc.

John : Nice.

Lij : Okay, cool. So for our listeners – say for a listener who is an absolute beginner at this – how would they about, right now, getting some SolarCoin? Can you  explain the basics?

Nick : Sure. There are a couple of ways. Obviously you buy on an exchange, and those are listed on the site. As a claimant – let’s say you have solar panels on your roof – just go to the web site, download a wallet, and then fill out the form – submit the claim. There are about 10 or 15 pieces of data we need, and if you have solar on your roof you”re going to know – pretty much – what those pieces of data are, in terms of, “Oh, here’s the type of meter. Here’s how much [you’ve] generated.” The same way that you might look at your electricity bill and say, “I used 50 kilowatt hours last month.” You’ll go online and be able to look — because you’ll get it from whoever is providing, monitoring and managing your solar panel. You’ll have a little report that will say, “You generated 50 kilowatts.” You just put that in the form. It usually takes 10 to 15 minutes to do the first time.

Lij : Okay, and so for somebody who might be a beginner — for example, they may have experience with solar panels, and having solar energy, but this whole concept of SolarCoin and Bitcoin may be new to them. How would you describe what downloading the wallet means to them?

Nick : Sure. Just go to the homepage. You’ll download a piece of software that will sit on your computer. It will sink up with the blockchain – or this large ledger of all the transactions –

John : And we should let people know that the faster your computer is, the faster it will do that. And that if you have a really slow computer, it could take half of your day.

Nick : [laughter] Yeah. It just runs in the background, so you have to be patient. Inside that piece of software – which is called your wallet, which is basically where you’re going to store your coins – you’ll get an address that will be the receiving address. That’s basically where you ask people to send your SolarCoins to. Take that address, put it – with your other information – into our web site, on the claim form. It’s right up there on the homepage. There’s a button for claiming SolarCoins. And usually, within three to four days, your SolarCoins will be sent out, and you’ll get an email, and you’re part of the process. You’re part of the SolarCoin community.

Lij : That’s cool.

John : That’s well explained. And I guess the form that they fill out to verify the production of solar energy is also probably fairly straight-forward?

Nick : Yes, it is. We’re designing it to be as simple as possible. And right now – because we’re in the early phases – we’re learning how to make it as simple as possible, and just building out the database to automate it more. So right now, for all the volunteers in our community, it’s a very manual process to do all of that stuff, across 11 countries – as you can imagine.

Lij : So do you have a term, or a name, for the people who have downloaded wallets? You know, the volunteers in the SolarCoin community? Are they referred to as “the planets”, or the [?], or-

John : How about the “Sun Gods”.

Nick : [laughter] You know, we don’t. One of the fun things about the whole process is the communities come up with some great names and concepts, and it’s fun to watch the whole thing grow organically. So, from the name of the smallest unit being a “photon”, instead of a “Satoshi”. Someone refers to the currency now as “Solars” – which, kind of, seem like “dollars”. So, we’ll have to see. Again, let people self-identify. It will be one of the great things when people come up with the nickname of how they want to be called.

Lij : Okay. So now do we explain to the beginner how they might go about mining SolarCoin at this point?

Nick : Yeah. Mining SolarCoin is really like any alternative currency. There are a couple of ways to try and go about that. One is the wallet itself. If you download the piece of software from the web site, it allows you to mine the SolarCoin. That being said, the difficulty now found in the currency is so high that really mining with a PC isn’t worthwhile. It’s not efficient. So, if you really want to get into mining, it’s really for the techie people – who probably are already miners.

John : Or the gaming folks, that have GPUs sitting around?

Nick : Yeah. They can either use a GPU, or you go and join a mining pool and lease a mining rig. I’m not going to try and explain that to people. I think that they can probably find better explanations online to do it.

John : There’s a lot of information online about that.

Nick : Exactly. It’s just like any other coin, from that aspect of the mining.

Lij : Great. Well thank you so much. That was a lot of great insight into SolarCoin, and just the process of investing, and the value of money.

John : I agree. And, you know, I still like to think of the sun as the giant nuclear energy plant in the sky, without the associated risks of radiation, without the associated risks of nuclear waste, and Fukushima-style problems. That’s my perspective.

Nick : Yeah. I’m actually working on reviewing a paper for an astrophysicist at Harvard.  He’s doing some stuff on economics, and he’s under the same agreement that the most effective means of energy – from a safety perspective, a bio-safety perspective, for 100 or 200 years – is solar. Because it doesn’t have a thermal footprint, which nuclear, fossil fuels, and other things have –

John : Right, and yet we still have goofy people out there saying, “Why solar? We have plenty of coal?”

Nick : Well, it’s always good to have a diversity of opinions, and well thought-out arguments. The good thing is that solar is getting cheaper all the time. So eventually it just becomes a simple, economic argument.

Lij : Yeah.

John : So the last thing I’d like to ask is you wrote somewhere, I read, “The nature of value is the economy of life.” Can you close our interview with some words of wisdom for our listeners?

Nick : The economy, long term, will continue to grow, find, and invest and allocate to stable things that contribute value to us all. And those will grow.

Lij : Like the sun.

John : Nice.

Nick : There we go.

John : I’m investing in the sun. Thank you so much.

Lij : Nick, thank you so much for joining us today on “Bitcoins and Gravy”, and we look forward to seeing what happens with SolarCoin, and hopefully speaking with you again down the road.

Nick : Great. Thank you very much.

John : Thanks Nick. We really appreciate you being here.

Nick : All right. Take care. Bye.

[outro music]

Lij : Thanks to today’s guest on the show – Nissan Bahar of Keepod, and Nick Gogerty of SolarCoin. To find out more about our guests and sponsors, visit our show notes at http://www.bitcoinsandgravy.com/episode17 . Thank you so much for listening to our show. We greatly appreciate your time and attention. If you like the show, please remember to go to ITunes and leave us a review. Also, hit the “subscribe” button if you would like to hear from “Bitcoins and Gravy” each week.

John : And remember the “Bitcoins and Gravy Hotline”. Have you ever wanted to be a podcaster? Then call us at 615-208-5198, and leave us a mesasge with your comments, questions, or complaints. This is your opportunity to tell us what you think. If you give us permission, we will put you on the show. So call the “Bitcoins and Gravy Hotline” at 615-208-5198. That’s right, that’s the “Bitcoins and Gravy Hotline”. And, of course, we offer a number of ways for you to download all of our past podcasts. You can go to http://www.letstalkbitcoin.com, or directly to ITunes.com, or you can go to our web site : http://www.bitcoinsandgravy.com

John : If you enjoyed this show, please take a moment and leave a review, or comment, on ITunes, or Soundcloud. Let us know what you like, or where we can improve.

Lij : And remember, it’s your reviews and comments that help new listeners discover “Bitcoins and Gravy”, plus all the other great shows on the “Let’s Talk Bitcoin” podcast network. And we thank you for your generous tips and donations.

John : I”m John Barret.

Lij : And I’m LIj Shaw. And you’ve been listening to “Bitcoins and Gravy”, from East Nashville, Tennessee.

[end]

=========================================================

Feel free to donate some Bitcoin to support the research and writing effort of this blog.

Donate some Bitcoin to support the research and writing effort of this blog.

Free Transcript Project : #6

==========================================

Source video
—————-
Title : “Disruptive Leaps – “Let’s Talk Bitcoin – Episode #134”

URL : http://youtu.be/3bmeohism0g

Organization         : “Let’s Talk Bitcoin” Network :
Web Site                 : http://www.letstalkbitcoin.com/

Host 1                      : Adam B. Levine
Contact                  :  LinkedIn Profile , Email : adam@letstalkbitcoin.com

Host 2                     :  Andreas M. Antonopoulos
Contact                   : LinkedIn Profile
W
eb Site                 : http://www.antonopoulos.com/

Guest                       : Jeffrey Tucker
Contact                    : LinkedIn Profile
W
eb Site                  : http://www.liberty.me/

==========================================

Transcript

Announcer (Adam B. Levine) : Today is the 9th of August, 2014 and this is episode 134. This program is intended for informational and educational purposes only. Cryptocurrency is new, highly experimental, and we’re not experts – just obsessed companions, walking the road towards a more peer-to-peer future.

Adam B. Levine : Welcome to “Lets Talk Bitcoin”, a twice-weekly show about the ideas, people and projects building the digital economy and the future of money. My name is Adam B. Levine. Today on Let’s Talk Bitcoin I’m joined by Andreas Antonopoulos, one of the other hosts of the show.

Andreas Antonopolis : Hello.

Adam Levine : And today we have a special guest, Jeffrey Tucker – one of my favorite economists and a spirited Austrian. Jeffrey, how are you?

Jeffrey Tucker : Everything is really great. I’m so happy to be here. It’s really great that we’re able to meet up. I’m on the road a little bit doing this and that. I just got back from a nice Bitcoin meetup in Washington D.C. last night.

Adam Levine : So you are in Washington right now. What are you in Washington for?

Jeffrey Tucker : I came to introduce a series of seminars for, first the Charles Koch Institute, and then a nice interview on “Reason TV”, and now I’m headed to give a big lecture to the “National Convention of the Young Americans for Liberty”, which is kind of a political organization. But when you ask me to speak you’re not going to get too much about politics. You’re going to get a lot about crypto-anarchy.

Adam : So we have a lot of listener questions. Since we’ve booted up the forums I’ve been posting, “Hey, we’re going to be talking to these people. Do you have any questions?” So the first one that we have comes from the listener “Strip”. He says, “Is it necessary for Bitcoin to be a symbol for some kind of idea? Is the symbolism important? Is the idea important? Or is it the tech?”

Jeffrey : So this is a very interesting question because lot’s of people have different views about this. Even in Bitcoin meetups you find some people who have very conventional understanding of Bitcoin as a superior payment network. They see it as an improvement over Paypal. Then you meet other people who come out of the cyber-punk, anarchist world, and see it as a tool for liberating the world from nation-states. These are very different views, right? My own opinion about it is that it’s both things, and all things, and people should just hold whatever views they want to about it. The beautiful thing about Bitcoin is that it is not dependent upon our opinions of it. Nobody is in charge of Bitcoin. I don’t think it is necessary that we have a particular ideology going into our Bitcoin promotion or ideas. We can all interpret and understand it in a different way. If you think about it, it’s almost like electricity or internal combustion or something like that. These are gigantic and technological improvements that have entered into civilization. Many people have different ideas about how the technology is going to be used. That’s good and fine, but the tech is going to take it’s own direction regardless of what we think about it.

Andreas : I love the idea that it is both, because I think that the technology itself is most certainly neutral. It’s a technology that can be used for a variety of purposes. But at it’s core it encompasses certain principles : principles of transparency, principles of openness, peer-to-peer use that is decentralized and egalitarian. And here’s the trick, a neutral technology is not neutral if you put it in a world which is terrifically biased and skewed. Or as George Orwell said, “In a time of universal deceit, telling the truth is a revolutionary act.” So in a time of universal financial deceit, a transparent, open and egalitarian financial network is a revolutionary technology. It is political – not because it is inherently political – but because it is put into a context of deceit. The act of creating equal access finance with transparency – in our world – that is revolutionary.

Jeffrey : This is a wonderful way to put it! So often, Andreas, when you speak I often feel like I am sort of 1.0 and you are 2.0 – and I completely agree with what you said. I also love how Bitcoin embodies all of the coolest technologies of our time. What I am about to speak on at the Y.L. is about all of the beautiful technologies that are driving the world forward. From cryptography, open source program, and distributed networks and peer-to-peer relationships – these are entirely changing the world. I’m not sure if people are aware of this – especially these highly politicized young activist. The ground is shifting beneath our feet, and Bitcoin represents, I think, the most developed embodiment of all the coolest technologies that we’ve seen emerge over the last five to ten years.

Andread : I’ll give you another example of a technology that is inherently neutral, but when introduced into a society that was hopelessly biased it caused a revolution. That was the telescope. Galileo put two pieces of ground glass on the ends of a tube and peered up into the heavens, and what he saw was not heavens. What he saw was circle objects in elliptical orbits rotating around the sun. And that was simple truth. It was completely neutral. It was just reality sitting out there. But you drop that into the middle of 16th century Catholic church indoctrination, and that is a nuclear weapon on mass enlightenment which destroys all of these preconceived notions of a firmament – a heaven above, a material world below. Geocentricity instead of heliocentricity. That is an enormously revolutionary act, and it simply involves opening your eyes and looking up, and seeing something that directly contradicts 800 years of dogma and indoctrination. Does that make the telescope a revolutionary technology? Does that making looking reality in the face a revolutionary act? No, it’s completely neutral. It just is.

Adam : But it’s disuptive. It’s very disruptive.

Andreas : It ended whole nation-states. It destroyed kingdoms. It brought down royal families. It upended the world. It lead to people nailing proclamations of doors and taking of on ships and colonizing a new continent with completely different ideas. It lead to the French revolution. It lead to a victory of democracy over the middle ages – the “dark ages”. It lead to the end of the Holy Roman Empire. And it was just two pieces of glass on a tube. Again, it’s not the technology itself, it’s the context within which it appears.

Jeffrey : In Thomas Kuhn’s book “The Structure of Scientific Revolutions” it’s really, really interesting his description of a prevailing orthodoxy, and a paradigm that comes to be overthrown in the course of development of science in which there are too many anomalies that appear that are not explained by the prevailing paradigm. Then the paradigm collapses and we enter into a pre-paradigmatic state, where there is a lot of argument about what we are going to believe now about the future. Then a new paradigm emerges. As I was reading I couldn’t help but think that that applies also to social and political systems also – not just scientific paradigms. I really feel like we’re living through one of those right now. Andreas, you mentioned the underlying context here of a, sort of, equipotent world in which peer-to-peer relationships are the dominant thing. I really see that as the emerging new paradigm, and the failing paradigm – that is ending – is one of hierarchies and third-party trust relationships – whether it be banks, corporations or nation-states, actually.

Andreas : The problems is that these changes are, obviously, massively destructive because there are a large number of people in very powerful institutions invested in maintaining the status quo. No matter how wrong it is. No matter how perverted it is. No matter how much pain and suffering it introduces into the world. It’s very profitable for some, and you know, as another saying goes , “If your paycheck depends on you not seeing they truth, you won’t see the truth.”

Jeffrey : People get really embedded into the current paradigms, and to orthodoxies. People don’t understand really. This is what Thomas Kuhn’s book was an attack on, is the Whig’s theory of history – that there is a, kind of, smooth evolution of marginal improvements that go from thing to thing to thing. What he said was that actually we, sort of. hurl from one paradigm to another. There are all of these establishments that exist raised up around certain belief systems, and people are born into a certain structure, and they absorb that into their belief system. And they hang onto that for as long as possible until it becomes essentially impossible to do otherwise. This is what I think is essentially going to happen with Bitcoin. We all encounter ressistance to it. We are surrounded by people who are resistant. We see, sort of,a gradual enlightenment taking place. I notice in the last month, for example, I’ve personally encountered two people who were radical, radical Bitcoin critics a year ago, who have completely changed their minds in light of of just experience. That would be Peter Schiff and Jim Rogers, two intellectual investors who I really respect, who used to laugh at me for my views on the subject, who have now come around completely and admitted that they were completely wrong and are looking forward to a beautiful Bitcoin future.

Andreas : Well some of the strongest advocates in Bitcoin were originally skeptics. It’s in the nature of a skeptic – an honest skeptic – to ask hard questions. When you encounter someone who – as soon as you introduce Bitcoin to them – doesn’t just dismiss it, but dismiss it by asking really hard questions. Then you notice that they’re eagerly listening to your answers. They present you with their objections, and they are hoping that you will be able to overcome those objections to give them rational arguments to rethink their position. An honest skeptic will give you arguments, will let you demolish them, and then will make that change, absorb the new data and become an advocate. Some of the strongest advocates, I think, started like that. Then there’s a completely different category of person who is a skeptoc, but does not want to assimilate any new information that would violate that thinking. They don’t ask questions. They have preconceived ideas of what’s true and what isn’t, and any attempt to tell them about Bitcoin is dismissed. That’s how you know the difference between an honest skeptic and a dishonest skeptic, I guess. I don’t think it is surprising that people like Peter Schiff made that change, because that’s where our strongest advocates will come from.

Jeffrey : Can I tell you how it happened? It’s actually very funny. So, I’m bumping into Peter Schiff, and I’ve been arguing with the guy for like a year-and-a-half or even two years about Bitcoin. Because even before I became an advocate I was not a critic, right? He was one of these critics who would give like 65 reasons why Bitcoin is a terrible ides – one of these kind of guys. Then I ran into him in Las Vegas at “Freedom Fest” and he practically grabbed me by the lapels and said, “I have the most amazing story to tell you. My company started accepting Bitcoin, because I figured ‘Well, if I can get it converted into dollars right away, I don’t care .’ People can pay me in bananas – if it is converted into dollars it doesn’t matter to me.” So he enabled a widget on his web site that allowed his clients to pay in Bitcoin. And he said to me “You know, I can’t believe it. When I usually get international transfers in for some of their product they have to wait for or five days for a wire transfer and pay huge transactions fees for Paypal, and credit cards are ridiculously expensive and always involves some fraud issues.” He said, “But with Bitcoin, did you know that I can process these transactions even before the client gets off the phone and I pay virtually zero transaction costs?” And he’s telling me this – with wide eyes – as if he’s telling me news, you know? So I said, “Really Peter, is that right?” and he said, “Yeah, I’m telling you, that’s what’s right.” I said, “Well okay. I’m glad to hear this.” It’s the experience I think.

Adam : The experience really is it. That really is it. I think we all started as skeptics. I was looking at Bitcoin for a good year before I really felt like it was something that I might put some money into. And that was seeing it crash and come back a couple of times. It just seems like everybody has their own comfort threshold.

Andreas : Right, and as we expand adoption we’re reaching a comfort threshold of more and more people. They see the first crash, the second crash, the third crash, the forth crash, the fifth crash – and it’s still not dead, which is kind of remarkable. The number of obituaries that have been written for Bitcoin in quite staggering.

Adam : I thought it was pretty remarkable.

Jeffrey : I’m sitting here so thrilled, Here it is – I guess we’re approaching August 2014 – and I started writing about this subject around February 2013. I didn’t expect what would happen, but I wrote about five or ten articles right away, since I kind of stared engaging the Bitcoin economic structures and seeing what they’re all about. Then, in a funny way, the ceiling fell in on me. All of my old colleagues and friends started coming out of the woodwork to say that I was not of sound mind – that I had forgotten all of the lessons that I previously knew, and that I had, sort of, lost it. I was severely attacked and criticized – and it shocked me really. I have to admit to you that it is has been delightful over the last year-and-a-half to see how all of these people have shut up. You know? I hate to feel that sense of schadenfreude, but I just do.

Adam : It’s nice that there’s more support for it now, but we still haven’t hit that 1% yet,

Andreas : Yeah, Jeffrey, you said something that got my attention, which is people telling you, “Have you forgotten all the lessons? Have you forgotten all the things you know?” And that’s really the primary criticism of an established paradigm. The lessons and the things you know ; the conventional wisdom which is being drummed into your head. Especially if you study the subject – as an insider, as an academic in the space, or as a professional in the space – and you become skilled and expert in the space, that means you have reached the apotheosis of indoctrination. You’ve absorbed all of the dogma and become adept at teaching it to others. So the ironic thing is that the people who are able to escape the paradigm first are the ones who have never been schooled in it. If you come at it and say, “I don’t know anything about money so this Bitcoin thing looks good.” you’ve got a better chance of learning something. But if you think you already know everything there is to know about money and you have that conventional wisdom in your head, it’s almost impossible to escape that paradigm. It invades your life in every way. It informs your academic success. You’ve written papers about it. You’ve taught thousands of others the same thing, and reinforced it in your own mind. You’ve expanded your view within that narrow framework. You’ve explored it’s edges. You’ve taken it from a vague description to hard lines and sharp edges. Then stepping outside of that is almost impossible. So you see that sometimes a person who comes along and throws all of that in disarray is someone outside the field. It has to be, because they’ve avoided the indoctrination. It’s the patent clerk at the Austrian patent office who says, “Newtonian physics? I don’t think so.” It’s the tinkerer who has no formal training in electronics who understands a new perspective. And it’s the half-programmer, half-physicist systems-thinker “Satoshi Yakamoto” who is obviously not an economist, who comes along and says, “Well how about we do it this way?”

Jeffrey : I love what you just said, and I hope that somebody transcribes those two paragraphs you just said. I know in my case I had a serious problem that everything I thought I knew argued against the legitimacy of Bitcoin. It became a serious problem for me mentally, because I couldn’t make sense of it in light of my theories. But at some point I decided look, “What am I going to trust? What I actually see out the window? Or the theories that are in this hundred-year-old book that I’ve got rolling around in my head?” I finally had to trust reality over theory and hope that at some point they could reemerge together in a way that makes rational sense to me. But there was a whole long period in there where I couldn’t actually bring the two together. But none-the-less Bitcoin is happening. So I had to take almost a kind of a leap out of my prevailing orthodoxies in order to embrace Bitcoin. Then, gradually – over the course of about twelve months – I began to put it all back together again. Now Bitcoin makes sense to me in light of what I previously understood, but with some tweeks, you know? So there is a certain amount of intellectual humility which is required to leave one paradigm and enter another.

Andreas : When you said you had to make an intellectual leap it brought to mind another beautiful example of paradigm shifting and just stepping completely outside of the accepted norms and doing something so obviously weird and different that it shocks everyone, and it forces them to reconsider reality because it simply works. That’s the story of Dick Fosbury. Richard Fosbury is the athlete who was the first person to do the high jump with a backwards flip. Nobody had ever done it that way. Everybody would run up to the pole and, kind of, scissor their legs over it. That was the established way of doing it for decades – possibly even hundreds of years – who knows. He ran up and jumped backwards, and at first the reaction was that the judges tried to figure out if this was actually allowed.Can you do this? Is this part of the rules? Because he immediately set world records by doing this weird backwards flip. And they said, “Well, the pol is still there, it didn’t fall off.” It completely violated the existing paradigm – completely crazy and weird looking – and, of course, the next year everybody was doing it.

Jeffrey : That’s a great story.

Adam Levine : LTBCoin is the official community rewards program of the “Let’s Talk Bitcoin” network. You can earn LTBC by performing any number of thing you probably already do. If you listen to shows like “Let’s Talk Bitcoin” listen up for the magic word. When you hear it, visit http://www.letstalkbitcoin.com. Log in to your free account, and enter the magic words to claim your share of the listener rewards. Now it’s time for the ‘LTB News Flash”, brought to you by Cryptokit – the easiest, fastest Bitcoin wallet which installs right into your browser so it’s always ther when you need it.

Here are the headlines for August 9th, 2014 : Lake Tahoe Property sells for 1.6 million Bitcoin. Bitcoin momentum growing in emerging markets. Hacker swipes $83,000 from Bitcoin mining pool. The Bitcoin derivative boom could be a mark of the cryptocurrency’s coming of age. [Huboy?] bets big on multisig with quick wallet acquisition. Bitcoin Foundation seeks more time to address virtual currency rules. Hungary’s 200 volt now accepts Bitcoin for laptops, tablets, t.v.s and more. Check it out at cryptokit.com.

Today’s first sponsor, with a high water mark of 81,250 LTBC is “Storj.io”. Here’s what they have to say about the project :

Commercial Announcer : Imagine if the cloud wasn’t up here, but down here, with us. That’s storj. Storj is a cloud shared by the community. It is potentially the largest, cheapest and most secure cloud available. What you share is what you get. You can even be paid for renting your extra space. But how is it more secure? Each file is shredded, encrypted and spread across the network until you are ready to use it again. You can be sure the files are safe because the keys are in your pocket, not a company’s. Only you have access to your stuff. Because the network is shared you don’t have to worry about slowed download seeds coming from one place. We’re all helping make the system blazing fast. And if you have some extra space lying around, you’ll get paid by users who need more than they can share. It’s like renting out your empty hard drives. A cloud with security, no downtime and sopeed at a fraction of the cost.

Adam Levine : They’re currently running a crowd sale. August 15th is the last day to get involved. If you’d like to learn more visit storj.io.

It’s time for the magic word. Today’s magic word, for episode 134, is “liberty”. That’s L-I-B-E-R-T-Y. You’ve got until the 13th of August to visit Letstalkbitcoin.com and enter the magic word for your share of the LTBC audience rewards.

So, today’s second sponsor is a little bit different. With 62,000 LTBC, community member [Seen mason?] asked that we use his time to talk a little about the situation in Gaza. His perspective is this : Between 1947 and 1949, seven to eight thousand non-Jews were expelled from their family lands in Isreal and hundreds of villages were destroyed. Those people were kept under occupation without rights or a state for 47 years. Muslims, Christians and others within Isreal can’t rent or purchase land in about 80% of the country, and are basically second-class citizens by law. While, on the other hand, any Jewish person born anywhere in the world may gain Israeli citizenship and take the land of a non-Jew.

And with that, I’ve pissed off about half of our audience. Just kidding. Thanks to C. Mason for his perspective. My mind is very one-track.I tend to focus on things I can positively impact. Mostly this just seems like there is no winning scenario. It’s not about the people, it’s about the politics of control – which is probably a whole show unto itself. And certainly just because one side of the story has terrible stories doesn’t mean that it’s not just as true on the other. And that’s the thing, I guess. It’s just not about you or I at all. In the Middle East – just like everywhere else – our leaders make bad decisions just because it’s the best – as they see it – of the available options. Is it good for anyone really? No. But that’s not the world that we live in – yet. So that’s it. Back to the show.

Adam Levine : So Andreas, a little bit earlier you mentioned patent clerk, Newtonian physics. Intellectual property really has been – for hundreds of years now – kind of a core part of how people both monetize and protect. And it’s been interesting watching disruptive technologies – specifically cryptocurrency, which isn’t really governed by patents, and can’t really be controlled by patents – and on the other hand you have things liike 3D printing, that made a lot of progress over a couple of years, but that was only because some 20-year-old patents had expired and now these parts were able to be made by just anybody who wanted to make them as opposed to the one manufacturing conglomerate that had the legal right to be able to do it before that point.

So, Jeffrey, I’m curious, where do you think intellectual property controls can fit within a Bitcoin framework, and what impact would it have had if the situation had been different in the cryptocurrency space.

Jeffrey Tucker : So my own feeling on intellectual property is that it is basically an artificial thing that can only exist in an age of the nation-state, and that’s governed by the physical world threats of monopolistic elites who control the world through compulsion and coersion. That’s fundamentally at odds with what the digital age is all about : about malleability, reproducability, immoirtality and distributed networks. The idea of some elites gathering together to allocate who owns what in the realm of ideas is incompatible with this. Seriously, I’ve done a lot of work on the history of intellectual property – the ideological structure surrounding it. It wasn’t really until after the beginning of the 21st century that we saw hardcore, really serious attacks on the idea of IP – and it’s because digital networks really broke the system down. We saw some opposition to IP even as early as the beginnings of the industrial revolution, but nothing really substantial and serious until the digital age. Basically, I think the system is broken down and isn’t going to last, and it is very interesting to me to see how large corporations are starting to realize this and stop putting so much energy and time into enforcing their patents and copyrights – and starting to use the new networks of open source cooperation and the sharing economy to their advantage.

Andreas : Here, here. That’s a great commentary. Intellectual property is an artificial construct for monopolizing ideas and creating cartels around abstract concepts. The basic problem is that no one really has an original thought that they’ve conceived completely by themselves without anybody else being involved. Innovation is simply expending a culture of four-and-a-half million years one millimeter forward by combining all of the existing inputs and producing something slightly different – something that probably a few thousand other people have probably done somewhere else. The idea that you can take that and create a monopoly around that – while originally envisioned as a way to reward creators – has ended up creating these islands of stagnant creativity and isolation by removing things from the culture. The age-old compact – the social compact, that is even encoded in the U.S. Constitition, which is that “Congress can secure rights for creators in order to promote the arts and sciences.”. This idea that these patents and copyrights are of limited time – so that you take from the cultural Zeitgeist, you enhance it or advance it a tiny bit, you get a short-term reward, and then you give it back to the public domain so that others can build upon it. That compact then got perverted. Starting with the Disney company, who as soon as they saw their Mickey copyright runnning out, went ot Congress and got it extended 73 times – until copyright essentially became infinite, instead of limited in time, They were quite happy to take “The Brother’s Grim” and every other cultural story, appropriate it for their own needs, and then give nothing back to the popular culture. Take all of the stories of our ancestors, turn them into copyright material, and then give nothing back by perverting the copyright law. We’ve seen this happen across the board in intellectual property. Well, open source breaks that cycle. It recognizes that collaboration and creation moves faster, and innovation with collaboration moves faster – and if you give back to the community the community will give back to you again and again, and it creates this feedback loop of accelerated innovation. Whether it is Linux, or Wikipedia, or a thousand other things which have come from it – especially now with the introduction of the “Creative Commons” law and licenses. Those are amnazing things, and what they’re showing is that there is a much better way to do it.

Jeffrey : I heard something last night that really intrigued me, because I’ve tried to understand the best way to describe open source projects and what they mean. At the Bitcoin meetup last night somebody said that the great thing about open source technology is that it, sort of, takes away the obligation we all feel to constantly reinvent things – to constantly recreate, on our own, from scratch – all things. Always reinventing the wheel in a world of intellectual property, as you say, requires absolute originality. But open source programming – and open source everything – allows us to draw from the energies of others, and take what’s already been done and build on top of them. So you have this cumulating capital that grows over time. I was trying to thinkof a right analogy. It’s as if you had, sort of, one cake that is baked by the entire world, that is constantly getting ever better and ever more delicious, and the more people eat it there is ever more cake for ever more people. Rather than individual cakes by individuals constantly throughout history, you have one big cake that everybody is constantly making better and testing and bringing their own ideas to. I thought that was a really nice way to think about it,

Andreas : Yeah. The core fallacy at the heart of the concept of the intellectual property is the word “property”, because one of the absolute characteristics of property is that if you have property and I take that property, you no longer have that property. It is by definition singular, unique, unitary and not sharable. But if you have an idea, and I copy that idea, we both have that idea. And if I give it to ten more people, all twelve of us now have that idea – and we can all build on it. And you lost nothing from the fact that I have the idea. It’s not property, and it’s not property because it’s not tangible, it’s not destroyable. It’s infinitely copyable. If you have invented something and I copy that, then really what we are doing is doubling the rate of invention. Because – at the end of the day – you didn’t really invent something, you just expanded on thousands of years of culture. Your addition is standing on the shoulders of giants, and really hasn’t raised the bar that much.

Jeffrey : The whole idea od property in the first place – as you said – comes about because of the existence of scarcity. It’s a social construct we invented to stop conflicts, to deal with the problem of rivalrous control over the physical world. Once you migrate to the digital world you get simultaneous consumption of all things – with no depreciation of the original object – property is no longer necessary. It becomes just an absurdity. You know, it is important to remember that in history people have had mistaken views of propert over all sorts of things. For example, in the 18th century, and up until the early part of the 19th century – people thought that slaves were legitate forms of property, In fact, there is a 5th Amendment to the Constitution that was put in there to protect property rights over other people [chuckle], you know? Now we recognize that was just a mistake. So in the 21st century we’re gradually realizing that this is also a mistake to apply the term “property” to the realm of ideas?

Adam : But was it always a mistake? Because the arguments I hear both of you making basically revolve around, “Now we have digital things.” But that wasn’t true even 30 or 40 years ago. So 200 years ago, when intellectual property was getting started inthis country – in the United States – I have it in my head that it might actually have served a purpose, because the inventor was at the mercy of a manufacturing partner that might take years and might actually kick them out of the business because the inventor doesn’t control – or have any claim to – the very centralized and capital-intensive means of production. So Lincoln had a quote that I like. He said, “Patents added the fuel of interest to the fire of innovations.” I wonder, did they ever serve a purpose in your eyes, Jeffrey?

Jeffrey : No, I don’t think so, and I think what we need to do is totally revise intellectual history. There origin of the steam engine was a similar kind of problem. I mean, it was a great innovation, but it got locked down by oatents and nothing happened of any value for another 10 or 20 years, because everybody was, sort of, prohibited by law from adding to it. It was very interesting what happened with even things like the cotton gin. Who’s that guy – Eli Witley – supposedly invented it, but he didn’t invent it, he improved it slightly and got a patent on it and then went around spending the next 20 years cracking skulls to prevent innovation, He finally learned his lesson after he bankrupted himself spending so much money on patent lawsuits. It’s the same thing with the Wright Brothers. They came up with pretty cool little onnovation that gave them the title of being the first in flight, and then they spent the rest of their whole lives enforcing the patents. Meanwhile, all of the other countries in the world actually improved airline technology. By the time World War I came along the U.S. had the worst airplanes in the world, because we had the tightest patent controls [laughter].Yeah, I don’t think that patents have ever served any kind of purpose, and we really need to revise our intellectual history.

Adam, you said something very interesting about how maybe intellectual property is not really relevant in the digital age, but it might have had relevance before. But I really feel like we should have known that IP was not a good idea, even dating all the way back to the Gutenberg bible. When the Gutenberg bible came along, of course there was no IP over the psalms and the other texts that were being printed. But there was a confusion, because people associated the ideas on the page with the physical property of the page itself. We couldn’t really conceptualize the fact that these were really difference products. I mean, the ideas in the book are part of the non-scarce realm, the book itself is part of the scarce realm, and so we have this merging of these two things – one non-scarce and one scarce – and one beautiful thing called a “book”. But it took us a long time to realize that we are dealing always with two realms – one scarce and one non-scarce. We just didn’t know it – fully and completely – until the last few years.

Adam : So Bitcoin emerged as a very hobbiest sort of thing. It was very, very amateur, very experimental – “Let’s see what we can accomplish. We’re doing this because it’s neat that we can do this.” And I recently read a book called “The Master Switch” by Tim Woo, and in that he tells a bunch of different stories of information empires as they succeed and then fail. One of the stories he tells is about AM radio and FM radio. AM radio strikes me very similarly to how Bitcoin emerged, and FM radio seems like maybe after these recent discussion about these rules that are being made in New York. Maybe that’s the situation that everything that comes after will fall under. So I’m curious, do you know this story?

Jeffrey : I’m not aware about it.

Andreas : It’s been a while since I read Tim Woo’s book, so maybe you can remind me while we explain it to our listeners.

Adam : It’s a fairly lengthy thing, but the ideais that, in the early days, a kid who wanted to set up a radio station could set up a radio station with one of these little crystal radio things, and it was a hobbiest thing that people did because it was fun. You could set up a broadcast and you could listen to things, and this was very new at the time. Basically, it took like forty years to develop, but by that point it had developed into quite a successful industry, and there were a variety of monopolies, actually. Because at the time the only way you could get a station from somewhere non-locally was to use AT&T’s long distance lines. That actually was one of the reasons why FM radio was kind of suppressed, because FM radio came along and it esssentially made it so that ranges and power requirements were such that, before, it was unfeasible with AM radio to do re-broadcast stations – where you broadcast from one hill and then it is re-broadcast from another hill. The range was too short and the power requirements were too great. But when FM radio came along, it essentially made it so that anybody who wanted to do this could very cheaply set up these networks of stations and re-broadcasters, and that was one of several reasons why the FM radio paradigm – which it actually invented the FM radio technology and funded the research to do it – then sat on the technology. So the FCC came along and said, “In order to maintain the standard you can use much less power than you could with an equivalent AM station, so that it will only give you an AM equivalent broadcast distance.”. I’m rambling, and doing a kind of terrible job with this, but it seems like sometimes – especially in the last hundred years – these are used as weapons to suppress technologies.

Andreas : Not sometimes, Adam. Every single time, in every disruptive technology, the existing industries have used every weapon at their disposal to fight for incumbency and to prevent disruption. Which is, of course, the normal reaction. which then tells you what regulation does. Regulation starts off – at least presumably, or presented as – consumer protection, and it very quickly becomes a way to distinguish incumbents and to protect them from competition. Because they become adept at navigating the regulation, they co-opt the regulators, and then as soon as disruption happens they turn the regulation around and point it as a big weapon against the disruptors. That has happened in every industry. It’s happening today in every industry.

Jeffrey : In the end they never succeed. That’s what’s amusing. History progresses in any case, it’s just that the regulators can slow us down, but that can’t ultimately stop it – which makes it just a vast waste. I feel this way about a lot of these Bitcoin regulations that are coming out. It’s going to make the sector function less well, it’s going to make it less competitive, there’s going to be less focus on the consumer and more focus on compliance. But im the end, fifty years from now, none of these regulations that they’re trying to pass right now are going to have any relevance for whether – and to what extent – Bitcoin adoption is going to take place. Bitcoin is going to take its own course eventually. It’s just a matter of how many victims you want to create in the meantime. That’s what it’s all about.

Adam : Well, in New York, for example – again, we’re talking about proposed rules here just real briefly – that essentially say that you have the same compliance requirements if you do anything with Bitcoin – and users that have some basis in New York – as you would if, basically, you were a minor bank. The reporting requirements are very stringent, and it basically makes it so that with the current way that cryptocurrency is, it’s kind of incompatible to be complaint and to not create and entirely new cryptocurrency. So, I’ve been wondering about that. I mean, it’s kind of easy to create a new cryptocurrency, so if New York wants to go along with this type of means, doesn’t it make sense to actually either – maybe not them, nut somebody else does it – but create a cryptocurrency that actually complies with all of these requirements that they want. That has the real name currency attached, and that doesn’t require you to Jerry-rig it, rather than using Bitcoin where – yeah, you can use it, but you’re throwing out all of the advantages that came with it, so why bother?

Andreas : I think that’s mistaking a feature for a bug. The fact that Bitcoin is incompatible with these regulations, that’s not a bug in Bitcoin. That’s a feature. That’s one of the best features in Bitcoin. It’s incompatible with these regulations because those regulations themselves express the existing paradigm, and that is exactly what Bitcoin is disrupting.

Adam : But I’m going to call you on this, Andreas, because Bitcoin is neutral. So, at the same time, you’re kind of putting an ideology onto it. So, that’s what I’m saying —

Andreas : No. I’m not —

Adam : Bitcoin has the ideology baked into it. Can you twist that ideology and create something else that’s very similar but that doesn’t have that exact thing.

Andreas : No. What I’m saying is that Bitcoin is neutral, but Bitcoin is neutral in a way that violates the tenets of a very “not neutral” regulatory system that assumes that the best way to achieve consumer protection is to have all of the personal identifiable information of consumers given to several agencies with lax controls – so they can lord over it and supposedly stop “bad guys”. And what that does is actually destroys consumer protection. Privacy is consumer protection. The idea that by giving all of your private information you will be protected as a consumer is perverse. And the fact that Bitcoin does not conform to that idea because it is neutral, because it allows consumers to interact without having to go through this perverse activity of giving up all of their personal information just to transact – that is not a bug in Bitcoin. That is the feature that makes sure that Bitcoin will not fit into these comfortable regulations, and it won’t fit into the comfortable regulations because the regulations themselves are perverse – the idea that consumer protection is ensured by taking all the private information of consumers. And when consumers have a choice, to choose how they want to be protected, they choose not to give out their personal information. That —

Adam : — But that is the point. —

Andreas : — It’s neutral. —

Adam : Yes, in reality, given the choice. But they don’t have a choice. If this happens, then the only legal uses for Bitcoin will be this type of use – where you are disclosing all of this information. So that’s what I’m saying, is that in the world we live in, if this happens is it better to keep using Bitcoin and still disclose all of that information because you’re going to have to anyways – if you’re in New York, and under the subject of all of this nonsense. Or is it better to create something that, kind of, bakes it in? More importantly, what about people who are not us – and who are not in this for the ideology of it – think?

Announcer (Adam B. Levine) : Thanks for listening to episode 134 of “Let’s Talk Bitcoin”. Content for today’s episode was provided by : Andreas M. Antonopolis, Jeffrey Tucker and Adam B. Levine. This episode was edited by Denise Levine and Adam B. Levine. Music for today’s show was provided by Jared Rubin of “Security Beats” and General Fuzz. If you’re a developer, you might be interested in our upcoming “Coins For Commits” program. As the platform goes open source in the coming weeks we want as much help as possible, and you’ll earn LTBC for your commits. If you have any questions, send an email to adam@letstalkbitcoin.com and I’ll help you find the right person to speak to.

=========================================================

Feel free to donate some Bitcoin to support the research and writing effort of this blog.

Donate some Bitcoin to support the research and writing effort of this blog.

Day 10 : Writing As A Tool For Building and Developing Your Freelance Transcription Career

hand_writing

My first day as a certified member of the transcriptionist team at TranscribeMe has been one of fascination and information overload. Having now registered on the system I have been given access to several well-organized, yet dense, resources which form a comprehensive introduction and transition into the company. The internal social media network (which is essentially a customized, internal, Facebook-style social media platform where all members of the company can connect and share information) is run on the Yammer system. The revolution in workplace social media applications which Yammer exemplifies is in itself a very interesting subject to research. Here’s a very informative lecture by Adam Pisoni, the CEO of Yammer, where he explains how the evolving social media technology is revolutionizing communication and productivity levels in work organizations off all kinds and sizes :

A quick browse through the sections and topics shows a thriving social network of people from locations throughout the world sharing helpful information related to company operations, work issues, support for all kinds of potential issues which can arise, etc. It has all of the helpful features of any social media system, allowing you to connect with, follow, send messages, chat, etc. with other members of the company. Compare this with the essentially ABSENT communication provided by the other company I have been working with for the past month and the TranscribeMe system is a breath of fresh air. It is also a good opportunity to gain experience with this kind of productive communication system and the purposes it serves in the online transcription industry. Communication itself is a VITAL component to the entire online transcription operation, as it is often the only mechanism by which transcribers can collaborate and share important information related to the companies they work for, the projects they work on and the customers they serve. Considering that most online transcriptionists are home-based teleworkers who are dispersed throughout the world, the internet essentially provides the main means of communication between themselves, their coworkers, and their employers/clients.

I decide to take things nice and slowly as I work to get my bearings in this initial stage. I read a couple of posts whose topics catch my interest. These short posts are clear and provide quick and complete answers to very practical questions. I find a handful of these posts in the first hour of browsing, and each one provides an answer to an important question I have as a newbie which then allows me to proceed working through the system with more confidence and competence. I also “follow” a few of the people I know from the external forums who have already been working on TranscribeMe. These connections are valuable, especially in the beginning as I can ask some questions directly to these people instead of taking the risk of bothering other people in the network who I don’t know. As a newbie I am hesitant to make any posts as there is always the risk of breaking etiquette by asking a question which has already been addressed. So I decide to lurk for the first few days and take in as much info as I can without actually posting.

Speaking of etiquette, the company also provides a very helpful “Guide For New Transcribers” ebook (in pdf format). This handy little eight page book provides answers to the most important issues which arise as you get acquainted with the system (ex. the audio files system,  social network rules and etiquette, description of the entire transcription process, information on how to get help, etc.). I commit to reading one or two pages of this document per day to my training schedule.

I now have a healthy amount of information to go through in the days ahead. I will spend roughly an hour per day browsing through and interacting on the company’s internal social media network, reading a few pages of the style guide and beginner’s guide, take on some of the roughly one-minute transcription files to practice my skills and earn some income, and contine to read several blog posts (on the growing number of quality transcription-related blogs I am finding through my research) to continually expand my skills and knowledge related to the whole world of transcription. One such quality blog I have discovered recently through one of the transcription forums is :

http://www.alphabetsecretarial.co.uk/blog/

The Alphabet blog has several especially interesting posts which are worth the time, such as :

Twitter – Nonsensical Jibber Jabber or Transcribers on a Global Scale?

In addition to (and in extension of) all my research, I am finding that my blog writing is becoming more important as the amount of information I am working through increases. The writing process allows me to process and organize the experience. It allows a natural pacing which is healthy for someone like me whose brain works very fast and has a tendency to take on too much which overloads the circuitry and ultimately ends up becoming counter-productive. Knowing that my blog posts will be read by other people who are new to the transcription world in the future forces me to explain the whole experience clearly – both to them and myself (since as we all know the old saying “The best way to learn something is to teach it.”). The blog is also serving another important function of giving me something to focus on when there are no jobs available on either of the company’s available job boards, or when the jobs which are available for not appealing. It is easy to get stuck in the mode of checking the boards obsessively – especially when the workflow is thin – and this can become counterproductive in itself. It is better to focus on something which you focus on productively for several hours.

In general I have found writing to be an increasingly important tool in the expanding information age. The world as a whole, is continuing to be transformed into a more densely information-based entity. Think about how much more information we are faced with on a daily basis today compared with just a decade ago. More and more things in the world are becoming digitized. From the increasing digitization of photographic information enabled by the expansion of Smartphones with attached cameras which can directly upload images to various social media sites in mere seconds, to the more elaborate applications allowed by the collection, processing and presentation of data by “Big Data” applications such as Google Maps, which has now collected enough data to allow users to engage in a “virtual street-level visual tour” of any street in the developed (and even undeveloped world) IN ADDITION to locations underwater, on the Moon, Mars, etc. It really is amazing how much information is now being processed and utilized to enhance a growing number of practical (and some not-so-practical) everyday functions for people throughout the world.

Since information (a.k.a. : “content”) is essentially the new currency of the modern digital world it only makes sense that one way we can contribute to the development of this emerging paradigm is to contribute knowledge in various forms. Writing, of course, is a main mechanism by which we transfer information from inside our minds into the external world and thus to the minds of other individuals and the group-mind as a whole (the internet now serving as the physical embodiment of that aggregate, “global mind”. Therefore, I find that writing (especially with the application of that writing in the form of blogging) is an important component to my overall online activity (of which the transcription, editing, research, etc. are all a part). The writing functions as a thread which ties the other efforts together and makes the whole process more efficient and presentable.

Morgan Gist-MacDonald – academic editor, writing coach and owner of Paper Raven Editing company – explains the importance of building an online presence for the writer as a main tool for helping people, in her blog post :

How building your online presence could change your life and your readers’ 

Morgan’s blog is full of informative and practical blog articles which examine all of the important issues for writers in the digital age. It is well worth the time browsing through her posts.

So, my whole strategy in learning and navigating the transcription world is really taking on some good shape and efficiency. Combining the daily research tasks with practice on audio files within my capability and the blogging effort is really taking on the healthy qualities of creative flow which are turning the whole endeavor into an enlightening and somewhat enjoyable one. It should be interesting to see how much progress I will achieve after another month following this general strategy,

In the next post I will discuss how online transcription is a great way to be exposed to new kinds of interesting information and get paid to do a job which helps improve the quality of that information – a real win-win situation.

FrankyFreedom
freelance_transcriptionist@hotmail.com

 

Day 6 : Dealing With Rejection in the Online Transcription Industry

no entry

In the past six days I’ve made some good progress towards the longer term goal of building a steady flow of online transcription work while simultaneously building my competency and skills so that I can accept and complete files audio files with confidence and efficiency, and ultimately make an adequate amount of income to survive, maintain this self-training, and eventually build a progressively larger amount of work (both in terms of quantity AND quality) and income. Actually, I don’t really need that much income during this beginning period, as I live a relatively spartan lifestyle, and so my living expenses are basic due to my current living location.

Although I haven’t written so much about my personal life up to this point, I think it is now a good time to reveal that I have lived in the “developing world” for the past decade. In my specific situation, trying to survive in the United States (the country where I was born) became too difficult. Many of the young people in my generation graduated university only to find themselves hopelessly drowning in student loan debt, with dwindling prospects for attaining any sort of long term, gainful employment in the field they had attained their degree in. The economies of the “developed” countries have taken a significant turn for the worse in the past two decades, and I was smart (and lucky) enough to realize that things were only going to get worse. Although my predictions have now been vindicated, there is a silver lining here. The development of the internet has created two major forces which are counterbalancing the implosion of the traditional economy. These are telecommuting and freelancing, in combination with various others.  We are now in an age where it is possible to work in a location independent manner (a.k.a. “digital nomadism”) if you are able to attain an adequate number of, and degree of, work skills which can be performed with a proper laptop computer and internet (especially including wifi) connection. I will discuss this issue in much more detail into the future.

Getting back to my personal story, over several years during my 20s, after drifting around the Unites States both to explore and try to find a place to settle and build a business, I began gradually exploring several developing countries in Asia. I started as a traveler, then made the transition into English teaching for several month periods, and when that got to be too stressful I transitioned into freelance photojournalism, then web journalism/blogging, editing, and am now finally ready to take the next step into the exciting field of transcription. I will write more about myself in future posts, but for now this is good, and relevant, information to know in relation to the topic being discussed at this point. The most important point is that my living costs are quite low (it is currently possible to survive on~$600 USD per month) and so I have the flexibility to work for cheap for a while as I spend the time and energy gaining transcribing experience and building a network of fellow transcriptionists and prospective clientele. This is an advantage that many newbies in the “developed world” do NOT generally have, primarily due to the high, and increasing, cost of living. I therefore want to take full advantage of my situation to get up and running as quickly (yet methodically) as possible. It took a LOT of sacrifice to leave my country of origin, and I intend to be successful at achieving the ability to make a proper living which I was not able to in the US. The alternative is to return there, where the situation is now drastically WORSE, for a multitude of reasons, and so I am taking this effort very seriously, and have created this blog to assist future newbies to the industry to minimize the time and energy they need to spend to attain steady progress in a short time.

At this point, I have now built a daily workflow consisting of : evaluating various audio files as they appear on the “available jobs” board of the online system of the company I work for. By evaluating different audio files I get a better sense of the characteristics of the different kinds of projects that are out there. In addition, since I am also actively working on some files at the same time, I am getting to know what I am capable of through experience. Plus, I am building my skills through self-study using various free resources (ex. blogs, forums, etc.). Finally, yesterday I began adding another major component to the mix. That is, evaluating new prospective online transcription companies (one or two per day) and applying to those which fit my desired criteria. I completed one application yesterday (to the Rev.com company) and hope to find and apply to another quality company today.

Now, at this point let me say that I have some bad news and some good news. I’ll start with the bad news, which isn’t really SUPER-bad, but just a bit frustrating – another “speed bump” on the road of life – but at the same time, a situation with which I will attempt to turn “lemons into lemonade”.

I indeed received a sooner-than-expected response email from Rev.com this morning. The email said exactly this :

Dear Mr. X,

Thank you for applying for the transcriptionist position with Rev. We have rigorous minimum standards and unfortunately your application did not meet those.

Please do not contact Rev regarding this decision, as we are unable to further elaborate on our reasons.

Again, thank you for your interest in working with Rev. You may re-apply in six months.

Regards,

Rev Recruiting

Now, it wasn’t so much the fact that I had invested quite a bit of time and energy in completing the application (including the significant writing component and the two transcriptions) – and thought that I did both quite well – that frustrated me upon receiving this email. It wasn’t even so much the fact that they didn’t give a reason for rejecting my application.

What WAS most frustrating about this rejection was the fact that they made ZERO effort to attempt to provide me with any sort of constructive information, or anything which would indicate that they valued my existence in any way (for example, as a potential FUTURE transcriber, a potential future CUSTOMER, etc.). They basically just slammed the virtual door shut in my face and said “Good luck.”

Now, as an experienced online marketer I would say that this is a significant loss on the part of the Rev company, in the sense that they are not taking advantage of the potential benefits of their online presence. So as not to sound like I’m being cynical simply because my application was rejected, let me elaborate on what I am talking about AND suggest some constructive alternatives to the strategy by which the Rev company currently rejects applicants.

First, we need to consider that many of the people who complete Rev’s transcriptionist application are inexperienced “newbies” who are in search of opportunities to build their skills and obtain new information about the industry. In addition, they have just spent an hour (or MORE) of their valuable time and effort writing and transcribing only to get a curt email saying “No thanks. Good luck”. If these applications have some errors (assuming that some applicants’ errors are more or less severe than others) can you really make such firm judgement of them based on an essay and two short transcriptions? After all, they are probably nervous, it may be their first transcription test, etc. Plus, if you don’t give them any kind of feedback on the reasons why their application was rejected then they won’t be able to address and work on those issues so that they can perform better on future transcription application tests, ESPECIALLY in the early phase where they may not be aware of some of the quality self-study resources available online. The last thing a “lost” newbie needs is to spend valuable time on an application, and end up feeling inadequate and confused.

The issue is actually broader than this, because it is well known in the online marketing industry that “Content Is King”. That is, information which HELPS people and is given away FREELY is the CURRENCY of the online world. It is for this very reason that I have (and WILL) spend COUNTLESS hours developing this blog. It is NOT an effort driven by the desire for self gain, but for the purpose of HELPING people, by providing them with free and actionable information. THIS is the true nature of proper human relations, and one which has been SADLY corrupted for far too long. The internet has now provided a platform for the REVIVAL of this more evolved form of human evolution.

By Rev leaving rejected applicants “hanging” the company is missing out on opportunities to contribute their expertise to the wider web community and raise the bar for the whole industry. I will elaborate on this by going back to my original review of the company, which I wrote about in the last post (Day 5 : Evaluating Online Transcription Companies).

In that post I talked about how Rev’s blog was not really designed to its fullest potential. The main blog page is merely a text link page, the categories are oddly/erratically organized, the blog post subjects are random in topic and they a very small handful of posts related to transcription. Now think about the potential of the Rev bloggers writing up some high-quality and regular posts about different aspects of the transcription industry (ex. future trends, the role of a company like Rev in the context of the whole industry, analysis of different aspects of the transcription industry, resources for aspiring transcriptionists, etc.). This kind of content is something that rejected applicants (like myself) could really benefit from. Especially since they stated very clearly that I can re-apply in six months, then having some blog articles to read over the next few weeks and months would allow me to get to know more about the company, keep them on my radar, and thus be in a better, more informed position if/when I re-apply. To illustrate this clearly I will compare Rev’s approach to another company (later in this post) which DOES implement this kind of proper web site interaction with the general public, and as you will see the result of this is VERY beneficial to the company, the industry, AND the general online (and offline) public.

For now, I will just say that by Rev making no effort to stay connected with the rejected applicant OR give them a quick little push forward they are breaking a cardinal rule of the new information age – in which “CONTENT (and CONNECTIONS) is king.” – and actually missing out on potential opportunities which will benefit their company’s reputation and profit margin, while at the same time creating a group of disgruntled rejected applicants who have naturally gone right on ahead and voiced this resentment on various popular transcription industry forums. This, of course, is bad publicity – but of the kind which could easily be AVOIDED. My point here is that by a simple change in marketing strategy (with some basic DIPLOMACY thrown in) Rev could easily provide their rejected applicants with some helpful guidance (perhaps directing them to their blog, or some other helpful, free resources for beginning transcriptionists) instead of just issuing a cold email which tends to make the applicant feel inadequate and bitter for wasting their valuable time and energy,  likely during a period of unemployment, where are overly stressed and struggling financially.

*** Disclaimer : As I stated previously on this blog, any critique I make of the online transcription companies is intended ONLY as CONSTRUCTIVE criticism based on my own personal experience, both in dealing with these companies AND as an experienced online marketer. My comments are intended to HELP and offer constructive suggestions. In addition, if any representatives of these companies wish to contact me and discuss the issue further I am MORE than happy to offer additional constructive suggestions/consultation free of charge. My main goal is always to make the internet a BETTER place for everyone, as I believe that this technology is the most powerful innovation in recorded history, and which has the power to dramatically transform the world and the quality of life of the majority of the people who inhabit this planet (and perhaps other planets) into the future – ESPECIALLY the vast number of those people who live in abject poverty throughout the less developed countries of the world.

I welcome your feedback, and can be reached for further discussion at any time via email at :

TranscriptJunky@gmail.com

or

https://twitter.com/TranscriptJunky

Okay. That being said, even though the application to Rev was not successful in the sense of actually being accepted into their system and thus being able to benefit from their alleged high-quality training program and member support system, the process HAS been beneficial in that I was able to leanr some valuable information by analyzing their web presence and see a good example of how one of the more tech-savvy companies is utilizing the power of internet technology to streamline their operation and make the application process straightforward for applicants.

Being now a bit battle-hardened – and thus even more determined to succeed – I decided to turn my research again to the online community for a good lead on the next online transcription company I should evaluate and possible apply to. This is another major benefit of the transcription forums. They provide you with the REAL information you need (through consensus) to minimize wasted time and energy on the lower quality companies). A few members of the Transcription Haven forum had given positive reviews of the TranscribeMe company. At first, I was hesitant to follow up on this company primarily because the reviews generally described that the audio transcription files are very short (a maximum of one minute for the transcription audio files). I couldn’t understand how this would be feasible to most people. In my opinion, this eliminates one of the most important motivating factors in transcription, which is to learn some information from the files you are transcribing. This, of course, would be difficult if the files are only one-minute long. However, it turns out that my confusing (while PARTIALLY valid) was due mainly to the fact that I did not more fully understand the system by which this company operated. That is, it uses global CROWDSOURCING to break the longer files into multiple one-minute sections, which enables the small sections to be transcribed faster, and then reassembles them. You can also work your way up the “QA” (Quality Assurance) level, at which point you are then able to work on the full audio files (resulting from to reassembled collection of one-minute segments).

In addition, I was discovering that the few cautious attempts I had made at transcribing the rather long (usually over 30 minutes) audio files made available by the first (current) transcription company I am freelancing for were quite a bit overwhelming in general. I was able to get them done, but felt that I just didn’t have the skill level necessary to do so in a relatively comfortable, or timely manner. Therefore, I had been working mainly on the editing projects at the current company and only taking on the shortest and easiest transcriptions. I was starting to think that being able to work on smaller files of only a few minutes in maximum length may be just what I needed as a stepping stone to more advanced work. It was also brought to my attention through the forums that TranscribeMe provides a well designed training program that you progress through as PART OF the application process. In other words, they are providing you with some VALUABLE free training, which helps you build confidence and experience, EVEN IF, you are rejected for some reason. I went on my intuition and the information in the reviews, and it turns out that deciding to pursue TranscribeMe was INDEED a good decision, at least for a next few months, and as the intended stepping stone.

In accordance with the research and evaluation strategy I have developed and documented on this blog so far, I will proceed through the standard steps of : (1) evaluating the web presence of the company, and then (2) proceeding through the application process if the evaluation proves appropriate.

As soon as you arrive at the main page of TranscribeMe.com you can tell that this company is not messing around. The design of the web site is top-notch, including an inviting color scheme, scrolling graphic article links, a clear link to their blog right at the top and bottom of the page, testimonials, accessible link to the section for transcribers, clear information to their star transcription app product, and more). You get the sense that they have put a lot of time and effort in presenting as much information of value to ALL of the many and different kinds of visitors who arrive at the site, and doing so in a manner which is easy for the visitor to find the information they need.

At this point I am quite a bit overwhelmed by the sheer AMOUNT of information on this site and so I decide to follow my visual instinct and click on the scrolling article with the pretty picture of their free mobile transcription app. The app page opens to reveal an excellent, comprehensive run-down on their very valuable (especially for the price – FREE) mobile app which allows the user to record audio, upload it to the TranscribeMe site and order a transcription right through their smartphone. On the page they have a few good static pictures of the app and description on how to use it. The level of streamlining (both in terms of technology and marketing) which they have achieved is quite commendable.

After being highly impressed by their mobile transcription app I decided to head over to the blog to see what other kind of valuable information the savvy marketing people at TranscribeMe were putting out. I figured that before even attempting to focus on their transcription work opportunities I would first evaluate the quantity and quality of free information they have put out for the benefit of the web community. In this way we can make a decent assessment of where their business philosophy and mission are at, and do so by evaluating the ACTUAL actions they have taken in putting content out for public consumption. After all, as the old saying goes, “Actions speak louder than words.”

So I head right over to the TranscribeMe blog which is clearly and easily accessible via the “blog” menu link clearly positioned right at the top of the page. Upon opening the main blog page I am grateful see a proper and very professionally executed blog (with all of the standard blog formatting that people are accustomed to (as opposed to the less polished/functional “text-only” main blog page at the Rev site). They also have on display their email newsletter sign-up form and Twitter and Facebook profile links clearly and immediately on the right side of the page. In other words they have taken great effort to make be user-friendly and attempt to connect with people who constitute their various target markets (transcription customers, transcribers, etc.)

With just a quick browse through the ten blog posts on the first page it is clear that the people at TranscribeMe are making a SERIOUS effort to cater to the information needs of EVERY segment of their overall market. A few of the posts on that first page which immediately catch my interest are :

1. TranscribeMe : Creating Jobs For Unlikely Candidates

2. How is TranscribeMe Different From Other Freelance Job Sites?

and

3. TranscribeMe Represents A Work Platform For The Future

While the post titles are interesting enough, I decide to click through to read the third article and get a feel for the quality of information they are putting out. As expected, the article is very well executed. In a clearly written and concise 412-word article they describe how TranscribeMe’s revolutionary, high tech micro-tasking system allows transcription jobs to be most efficiently completed through breaking each job up into manageable sections and distributing them to a massive global “crowd” (a.k.a. “crowdsourcing”) of experienced transcriptionists. In the end, this process produces the most time and cost effective solution to transcription and benefits all parties involved – the customer, the transcribers and the company itself. The post also talks about the multitude of work and continuing education training opportunities available to transcribers who work for the company, as well as their very helpful Yammer internal social media communication platform which provides highly efficient means of communicating and collaborating with the thousands of other workers in the organization, who are distributed throughout the world.

By the time I finish reading this article I feel like I have gained some excellent and practical knowledge about the company, the whole industry, the overall opportunity which TranscribeMe can offer me as a “newbie” transcriptionist, and the sense that collaborating with this company will provide significant benefits for personal growth and career development into the future, for however long it is feasible.

This is an excellent example of what a high quality blog presence look like. They provide valuable information to their target reader. After reading this article I am highly motivated to read MORE of there articles, and I will do exactly that (likely one post per day) in the coming days. In addition, if I decide to follow through with their online freelance transcription application I will have more than enough of their blog content to work through BOTH while I wait for the results of the test AND/OR if I my application should be rejected I will still be able to continue benefiting from the information they put out regularly on the blog.

Also, considering that they have OTHER major products BESIDES their transcription service (for example, their mobile app) it would only make sense that TranscribeMe would have it in their interest to maintain the connection with ANYONE who comes to the site (whether it be prospective transcribers, potential app/transcription customers, etc.) as – like in my personal case – many people likely first come to the TranscribeMe web site UNAWARE of the free mobile app they offer, and thus by discovering the information on the app they are transformed into potential transcribers AND customers. It’s a win-win situation. This is a good example of professional level marketing strategy, and even if I don’t get the chance to work as a transcriptionist for TranscribeMe they have already earned my respect for their professional online marketing savvy, and will certainly have me as a customer who will use their mobile transcription app into the future if that ever becomes necessary.

I think it is best to let the reader absorb the girth of information presented in this post by concluding here. In the next post I plan to continue my evaluation of the TranscribeMe site, focusing on the freelance transcription section of the site and (likely) moving through the application process. For now I suggest the reader have a look around their site, browse the blog and read a few posts to get a feel for their operation.