How bitcoin will disrupt Hollywood | Michael Terpin | TEDxHollywood

This talk was given at a local TEDx event, produced independently of the TED Conferences. In this talk, Michael dives into the concept of Bitcoin and how the entertainment industry can benefit from the use of this futuristic form of banking.

Michael Terpin is the founder and CEO of Terpin Communications Group, a leading public relations and strategic communications firm, specializing in high-technology and digital convergence.

About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

22 Comments on How bitcoin will disrupt Hollywood | Michael Terpin | TEDxHollywood

  1. Yes, “little b”, is for the currency, thank you, because it is not a proper
    noun. Big “B” for the currency symbol as well as to represent the
    technology, thank you.

  2. Minimum fee to send bitcoin at this time is a nickel, can’t let that slide
    Michael, can’t say micro-payments of a 1/2 penny. Developers, programmers,
    we cannot let that kind of thing propagate as fact.

    And sure, you can send bitcoin and attempt to do that with no fee, but
    that’s a rouge app as essentially, sending bitcoin without the minimum fee
    that rewards the miners is very, very bad for bitcoin.

    You can use Vertcoin, or Darkcoin, or Vericoin for these types of
    fractional penny micropayments, because the minimum fee to send those,
    “assessed in the coin itself”, is far less than the value of the 1/2 penny
    payment.

    • +ParlanceOpus Yes, sure, I’ve been following the development of the
      micro-transaction tipping bots on twitter, one of the first was Joris
      Bontje’s implementation of Pika Pay, and this is all good and the point is
      certainly made it CAN be done on the output end. And we are all glad to see
      this type of technology in development however to the general public who
      knows little about bitcoin at all, much less these advanced apps, etc.,
      like the audience Michael is talking to, we need to be careful with how we
      present their entry into bitcoin.

      I still think that saying one can send thousands of dollars for a NICKLE
      fee, is more honest in the introductory phase for a potential bitcoiner
      convert, LATER … when they figure out for themselves that they could
      potentially send any amount of money for free, like the millions in coin
      sent by the US Marshall’s service with no fee … well, we can let them
      figure that out themselves.

      That whole “FREE” marketing scheme just smacks of used cars and marketing
      come ons which could easily be interpreted in the short term as
      disingenuous and create some level of cognitive dissonance.

      Why do the cheapie “freebie” pitch, when you can say the actual transcation
      process DOES represent value, but it only costs a nickle. That’s far more
      effective than the “FREE LUNCH” pitch, which is so old, tired, trite and
      abused.

    • +Pat Jack Yes I agree. Bitcoin is revolutionary enough that it doesn’t need
      to be exaggerated in it’s capabilities when talking to tech inclined folk.
      But it depends who you’re talking to. When I try to make the penny drop to
      people that aren’t technical and don’t get it I talk about future
      applications and things that aren’t happening right now, and maybe even
      CAN’T happen right now, but are the promise of decentralised trust and
      programable cash. If you were trying to amp someone up about the internet
      in the early 90’s you would be talking about possible future applications
      like amazon or itunes.

    • FALSE: the minimum fee to send Bitcoin is zero. When the US marshals sent
      Tim Draper his 30,000 Bitcoins from the FBI auction, 0 fees were paid. it
      only slows down how fast the network confirms the transaction.

    • Guys, listen to the video again. What I said was that you could charge
      half a cent per video view and bundle up 74 of them – NOT charge half a
      penny and have 74 transactions, but have one transaction with accounting at
      half a penny apiece (e.g., the monthly bill would be 37 cents. And I
      didn’t have time or space on my slide that said “no fees” to add “no fees
      required, but it goes a bit faster if you tip the miners a few pennies”…

  3. Right now these things are not doing that well. Bitcoin lost some 50
    percent of what it was not so long ago, Doge coins are nearing EOL status,
    and these things are getting stolen here and there because people don’t
    know how to use them. It makes us hesitant to invest on these things. 

    • +xuridun Yes up and down because it is trading in a dollar centrist world,
      But that does not mean the same “games” couldn’t be played by the bitcoin
      currency. The impact would not be all that noticeable in the old games that
      use large transactions because large transactions don’t usually carry a
      relatively large fee. In fact usually the fees for ACH transactions and
      Cashier checks are zero most of the time already. The micro transaction
      arena is where bitcoin is very shiny. With the proper infrastructure
      Private transactions are possible. Even where the players in the game have
      very significant adversaries like the history of the silk road a very
      significant amount of commerce took place before that market ended. The
      concerns of the participants were some what privacy oriented so after the
      silk road was shut down and even though some of the end consumers lost
      their bitcoins twenty more markets rose in it’s place. I still think the
      delivery mechanism is the weak point. Seriously now, public delivery to
      your house. Seems like a bad Idea to me but until they institute mass non
      invasive package inspection it will continue and UPS and other common
      carriers will be Assimilated and resistance is futile.

  4. I’m not so sure that BitCoin is as “game changing” as the bitcoin zealots
    want you to think. It looks like a bunch of hype to me. It’s the latest
    “trend”, a fad.

    • how many time i have listend to : fad,trend , ponzi, tulip bubble over
      and over again. , all these have been already proven wrong. And the biggest
      proof of it is that price has been going up each year and the amount of
      bitcoins beeing traded goes down .in yearly bubble cycles.. with a mini
      bubble pop that bottoms out above the last top of previous bubble.. This
      year.; millions $ (more then in the early internet days) are beeing
      invested into infrastructure around bitcoin. especialy into the
      institutional level for big bankers. we are still in the early adoption
      fase.. but ppl tend to be blind for the short term crazy volatility in a
      small market.. not seeing the potential and big picture. Bitcion is here
      to stay just as bittorent never went away. there might be a better altcoin
      some day. but btc is able to evolve over time so i don’t see it happen in
      the first few years .. then again.. this is all imho.

    • +kaja
      Ok, I’ll concede that cryptocurrencies are here to stay. But they will
      never replace regular, old fashioned pocket cash, never. BitCoin and the
      like are just plain too much of a hassle than pulling some money out of
      your pocket and conducting business right there. No dependance on a
      network, no electronic device required, instant transaction, instant
      recognition, pretty much universal acceptance.
      Sure, this stuff is here to stay, and the amount of transactions will be
      impressive, but it will always be a minority player. Never a real “game
      changer”.
      REAL money is self contained, no other dependencies. I can pull it out of
      my pocket and use it anywhere. I don’t need a cell phone or computer with
      an internet connection. As a seller, I just need to decide if I want to
      accept that particular currency, no other setup required, no software
      clients, no middlemen, no over complex digital security concerns.
      But I’m not trying to talk you folks out of it. You hipsters can go use
      your “CoolCoin” all you want. I’ll keep using physical cash.

    • +Peter Belanger I understand that bitcoin may never be like cash, but most
      of the things i buy today is with my bank plastic card for little things
      like food, drinks, cleaning products, fuel for car, My bank can see every
      little thing i do and i still have to fill in a pin code. … with
      bitcoin we will be able to do this just by looking at a product with google
      glasses and nod (this already exists) and be anonymous like cash, If you
      realy want to use bitcoin as cash you can. print your own paperwallet of
      1$ and there you have a cash system(yes thats not something usefull in real
      life today but i can see potential there to make it easy). The idea of
      having cash and use it anywhere is not correct. I traveled only yesterday
      to another country and i had to go to an exchange in the airport to get the
      local currency. With bitcoin i can go everywhere in the world without
      having to change to local currency. that is. if bitcoin is going to be
      successfull and becomes a world currency. bitcoin will have a big advantage
      compared to cash for travelers and no expensive airport/atm exchange fees.
      There might be a time when cash is just not allowed anymore(my country is
      trying to force this already). If you want to keep using cash thats
      fine.But I realy dont see why you watch a bitcoin video and start calling
      it a fad and refering to bitcoin people as hipsters with their “coolcoin”?
      whats the point realy?

  5. I don’t understand the focus on Hollywood. Bitcoin can revolutionize the
    world. Who gives a crap about Hollywood, and why be so myopic about it?

    • +Jeehoo Ahn He goes on before and after and during his talk about the
      payment advantages of Bitcoin or potentially any other digital currency.
      The Title is Independently applied by the poster. So they pick make one up
      to get more views and more advertising revenue. Because of this some of
      these titles are pretty off topic and don’t give an accurate picture of the
      subject of the video. Cat video titles are pretty reliable though. To
      change the world or even a small piece of it, digital currencies must be
      adopted first. In case you are unaware, Hollywood is a huge processor of
      micro-payments and Any entertainment distribution system can help
      popularize a technology. I know people who base there choice of Phone on
      How it arranges the user interface. And they have tried both largely
      available types android and Apple and choose Iphone. For many the first
      portable experiences with buying and using a product with a phone was
      Itunes and Iphone. So interface and product symbiosis is important. A set
      top box for pay per view by bitcoin for netflix? Actually netflix could do
      it already. I could see that happening as a first major market maker for a
      virtual currency.
      It looks like currently the virtual coin payment industry is choosing
      Coinbase and a few big name online retailers. Like Overstock.com and Dell
      Computer. The Dell Computer move is a watershed event. They are a huge
      computer company. Still the biggest door opener might just be the
      entertainment delivery industry.

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