After a very successful internal meetup talking about Bitcoin and an upcoming talk about Decentralized Trust we invited more experts to share their thoughts on cryptocurrencies with us.

At itnig every Friday we sit down to talk with interesting people whom we meet throughout the week and we make a podcast (in Spanish) out of our conversations. You can listen to it on iTunes, subscribe to our channel on Youtube or enjoy it through iVoox.

Podcast #21 at itnig with Dario Nieuwenhuis, Jordi Baylina & Kamil Jura

For this Podcast #21 Bernat Farrero, CEO at itnig, Jordi Romero, CEO at Factorial, César Migueláñez, Product Director at Factorial, Masumi Mutsuda, Media at itnig talk with Dario Nieuwenhuis, founder of Verse, Jordi Baylina, Blockchain developer and Kamil Jura, designer at Quipu about mining, ICOs, the legality of all that involves cryptocurriences and their future.

What is Blockchain?

Jordi tells us it’s basically a global computer to which you can upload a program. But in reality it’s not one computer but many (4000 or 5000 computers) and just any person can upload a program to a Blockchain. All computers will then execute these transactions jointly, all computers at the same time are executing the same transaction step by step. A consensual algorithm.

All transactions are remembered and packaged to form a block. This chain of blocks with all these transactions is a register, it’s not modifiable… One of the first applications Blockchain was used for is money. It has one single instruction: to move money from one place to another. This is just one application, we can use Blockchain for all kinds of topics, think about insurance, identity, governance.

We are in a very premature phase of this technology, but in the short term this can change the world.

What’s so great about Blockchain?

One of the cool things of Blockchain is that you can establish rules, according to which a system changes its state. Let’s take money as example: Every person has his/her balance, if this person wants to move money he/she has to have money in their balance, has to sign with the adequate cryptography…etc.

Just take this a bit further: Once established certain rules, everybody who wants to use this Blockchain has to abide by these rules without the necessity for a central entity (government, central bank) to control it. Nobody can modify or jump these rules without the consensus of the majority — and this opens up many opportunities, which were before closed or taken care of in a closed environment like a government. This technology lets you think about corruption, inequality or power abuse in new terms.

We talk a lot about consensus when mentioning Blockchain. Are all users really equal?

The miners decide what rule changes apply or not but I would not compare this to a central government or bank as every person has the capacity to mine, without asking permission or have to be in a government.

There are different actors inside a Blockchain: The miners (who construct the blocks), all nodes propagating the blocks, the users (who have or accept bitcoins for example), the exchangers, the developers who maintain the code…

What is mining?

The person with the computer does a lot of calculations to create the next block in the blockchain. Miner mine the transactions inside the blocks.

Have you every mined a Blockchain?

With standard hardware this is really hard. so if you want to mine you connect to the pool, if you are developing you can create a small Blockchain and mine. But in general here in Europe it is not profitable to mine, as the costs for the m achine and more than anything for electricity are really high.

***

Listen to the whole Podcast to find out what Jordi, Dario and Kamil think about predictability in mining, about ICOs and the concept of decentralization. While exploring these ideas we’ll take a few detours to talk about the current legal framework, hear anecdotes of bitcoin cash ATMs in Switzerland and coffeeshops accepting bitcoins as far back as 2013 in Palo alto and Germany.

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W.

WHY YOU SHOULD CONSIDER A COWORKING SPACE FOR YOUR STARTUP

Your home office or a coffee shop won’t be enough!

Yes, we all know the tale about the guy who starts a small company in their garage or basement, has a brilliant idea and becomes the next Steve Jobs. It’s true, most successes have very humble beginnings. It’s also true that not all garage or basements are going to magically get you a successful business. They might work in the very (veeeery) early stages of your startup, but you can’t always meet a client at coffee shops, not to say your basement. 

A great, if not the best, solution is to find a coworking space. Coworking spaces have become very popular all over the world, either for freelancers or entrepreneurs and startups. 

Coworking spaces are not just big rooms with desks and chairs with high-speed wifi. The areas are made to be exciting places to work and improve your productivity.

As a startup, you need to find resources fast and affordably. More importantly, you’ll need motivation. This is why you should consider a coworking space. 

Here are some basic but amazing benefits from coworking spaces:

Community

Joining a coworking means joining a community.  Being surrounded by other entrepreneurs, freelancers and talented independent people is without doubt a one of the best features of a coworking.

Motivation is key when starting a new project and trying to develop your own business. The road will get though and you’ll appreciate other entrepreneurs’ vision and support! Other workers’ feedback can be very useful to improve your service/product before trying to sell it to the world. 

Networking, networking and…networking!

As a startup, you’ll be looking for networking opportunities. Most coworkings host professionals from different kind of industries, which can open up many doors for you and your business. Not all coworking spaces are about networking, some of them prefer to have a quiet individual work environment, so as a startup you have to make sure to choose a coworking with networking opportunities.

At Itnig, for example, we love to share ideas and support other entrepreneurs. Don’t be shy, some of the other coworking tenants can bring great business opportunities, or even become new clients (and friends)! 

Budgetfriendly

As entrepreneurs (or people for that matter) it’s very important to understand the importance of money, more specifically: budget. Tight budgets call for smart spending. Coworkings are usually budget friendly, most of them offer different membership options depending on your startup’s needs and budget.

Amenities 

A coworking provides you with everything needed to be as productive as possible. High speed internet connection, printers, conference rooms and COFFEE. Some coworkings even plan afterwork activities and events to make it all more fun! As a startup, a coworking space is your best chance at having all the basic amenities but also the fun ones, like a ping pong table or a nice chill out terrace. 

Happy clients

As you grow and have more clients, it can get messy if you keep meeting them in coffee shops. Coworking spaces offer office services such as conference rooms. That way your meetings will be more professional and comfortable for everyone. 

Barcelona is a city full of coworkings of every kind! Our Itnig community keeps growing, we now have up to 20 startups such as Andjoy, Classlife, Factorial and Freeverse, all under the same roof. We have afterwork activities and we also plan different kinds of events open to anyone interested in marketing, tech stuff, entrepreneurship and design. Our space is about 2.100m2 with up to 800m2 of conference rooms, events space, ping pong and fun activities. 

There’s also  wifi, endless coffee and talented people. Join us!