Monthly Archives: January 2014

Back in the Day

Back when I was about 12 years old, my Grandfather gave us our first computer for Christmas.  I was totally excited about it.  I could start it up, play some games, and even connect it the phone line and make it act like an answering machine.  It was great.

My First Computer

As time went by, I figured out how to use the phone line to connect to a friend’s computer and send files back and forth.  And after that I learned how to connect to a BBS and download shareware and games.  The funny thing about this though, is that I was the only one in my house who was playing with it in this manner.  Everyone else used it occasionally to type a letter or a school paper, but doing the cool stuff wasn’t easy or glamorous to do.

Eventually AOL came out and others started using it more frequently to look things up online, send an email, or join a chat session.  It was still a pain at that point since you needed to hog the phone line to use it.  Speeds increased and email became more popular, leading to even more every day use.

Today, my family members probably are connected to the internet more than they could even fathom back then.  Checking email, browsing websites, and shopping are an every day thing.

What reminded me of this time is how Bitcoin is being used today.  Only super techno-geeks are really into it, and the mainstream people haven’t found a use for it in their every day lives.  Many people are just confused about how it could possibly take off and be accepted in mainstream.  I don’t have that problem though, since I remember playing with computers before they were easy.

There are a lot of people saying Bitcoin is like the internet in 1995 and I guess I’m one of them.  It’s a new technology that has some serious promise to change the every day lives of almost everyone, but they are blind to that fact.  Many of them even think it’s a silly idea.

While I can’t say for certain that Bitcoin will be around in 10 years, I can say that there will be some sort of digital currency and that it will be used in ways we can’t even imagine.


Latest Project

Over Christmas, I worked on the first iteration of a site for calculating taxes for Bitcoin:

Right now, the talk is mostly around how hard it is to calculate Bitcoin taxes or how to evade taxes using Bitcoin, but I think that will go away very shortly.  Programmable money is going to change the landscape of taxes for the better.

Today, I have no idea how much taxes I’m going to owe for 2013 even though 2013 is over.  I’m going to have to wait until me (or and accountant) spends hours and hours going over pieces of paper, plugging numbers into forms, and figuring out if things are correct.  This is very inefficient.

In the future, I see a place where we know on Jan 1st what the tax liability is.  Imagine companies using anonymous (but public) Bitcoin addresses to post tax withholdings, insurance payments, 401k Payments, and the rest of the check… you could write a script that calculated taxes on demand for the previous year and could even project in real time what your taxes would be for the next year.

It’s pretty amazing to think about…

See my post on Reddit for more info about the website.