The document discusses improvements being made to Bitcoin at scaling conferences. It outlines 9 ways developers are looking to improve Bitcoin: 1. Make transactions take up less space in blocks through solutions like SegWit. 2. Move less important transactions off the main blockchain securely using solutions like the Lightning Network and sidechains. 3. Speed up transactions using solutions like the Lightning Network. 4. Increase privacy so users control their data through solutions like TumbleBit, MimbleWimble, and CoinJoin. 5. Grow the developer ecosystem. 6. Enter new markets like finance, IoT, energy, supply chain, and identity. 7. Make it easier to run a copy

1. @SDWOUTERS
The future of
bitcoin

2. @SDWOUTERS
Bitcoin was invented in 2008 as a way to
transfer value without “trusted” third parties
bitcoin.org/bitcoin.pdf

3. @SDWOUTERS
Media that predicted “The Death of Bitcoin”
Deaths by publication:
DailyPaulCNNCity A.M.ChronBroken Librarian BTC Feed Business Insider
BloombergAbout.com Acton BizNews.comArduino TronicapenwarrAOL
Financial TimesFester’s DenDavid Seaman FortuneForbesFool.com Fusion
Gizmodo Australia IEX International Business Times Javamazon Moneygeek
MyBroadBandMother Jones News.com.au NewStatesman NY Mag OUI Share
The New York TimesThe KernelThe Calculating InvestorStreet Insider
Sputnik NewsPYMNTS.com Reuters Robert Nielsen Salon Seeking Alpha
The Underground EconomistThe Telegraph The Washington Post The Weekly Standard
USA Today Valley News VICE News Wired YahooWall Street Daily
bitcoinobituaries.com

4. @SDWOUTERS
Bitcoin has been running non-stop for 7+ years
160M 434K $150M $105B
Transactions Blocks in the
blockchain
in transactions
per day currently
Transferred over
the blockchain
466M 16M 10B 100K
bitcoins
transferred over
the blockchain
Amount of
Bitcoins that
currently exist
Value of all
bitcoins
companies that
(indirectly)
accept bitcoins

5. "Don't forget that the millions of people all over the world
who are now part of the Bitcoin network were once very
strong skeptics. This includes people with decades of
experience in network security and cryptography."
~Andreas Antonopoulos

6. If Bitcoin is so great,
why isn’t everyone using it?
@SDWOUTERS

7. @SDWOUTERS
‣ Bitcoin is only 7 years old, it
still needs a lot of development.
‣ We have never tried THIS before
and it is about MONEY, not info.
‣ It’s like the Internet in the 90s:
‣ People don't get it.
‣ It looks ugly.
‣ We have few use cases.
‣ People don’t see how it will
change the world.
‣ Those who are disrupted by it
will do everything to stop it.
‣ Mainstream 10 years later
‣ Mass adoption 20 years later

8. @SDWOUTERS
Today there are Millions, but not
Billions of people using Bitcoin

9. @SDWOUTERS
One of the main hurdles for mass adoption:
Scalability of the network
*As a trade-off to be decentralized
3-7 transactions
per second*
185+ transactions
per second
Up to 24k transactions
per second

10. So far this hasn't been a problem,
but the blocks of transactions that
get added to the Blockchain every
10 minutes are getting full
@SDWOUTERS

11. So far this hasn't been a problem,
but the blocks of transactions that
get added to the Blockchain every
10 minutes are getting full
There is less space to add new users that
can use Bitcoin for tiny transaction fees.
(Now around $0.12 per transaction)
@SDWOUTERS

12. IDEA: Why not make
the blocks bigger?
@SDWOUTERS

13. You can try to keep expanding forever, but
at some point you hit physical network limits
@SDWOUTERS

14. It may be better to get people to carpool,
Build NEW layers or transport methods
You can try to keep expanding forever, but
at some point you hit physical network limits
@SDWOUTERS

15. 10
100
1000
10000
7
185
24000
How can we still get Bitcoin to these levels to be
usable by every human or program globally?
@SDWOUTERS

16. To solve these and other complexities to make
Bitcoin more successful, developers from all
over the world come together every year.

17. Scaling bitcoin #3 took place
on 8-9 October 2016 in Milan, Italy

18. Scaling bitcoin #3 took place
on 8-9 October 2016 in Milan, Italy
A private event for the technical community,
though everything was livestreamed

19. @SDWOUTERS
For most people it’s really hard to understand
all THE technical talk that happens there.
SegWit
ECDSA
MAST
Coinjoin
Tumblebit
Mimble Wimble
HLTC
Schnorr signatures
Lightning
Covenants
Jute braiding
Flare routing
UTXO
zkSNARKs
OWAS
SPV wallets Merkle trees
Hashing
RSA
ZKCP
Onion routing
MAC

20. @SDWOUTERS
So I thought I’d help out by going through
the transcripts on scalingbitcoin.org

21. @SDWOUTERS
Based on the talks, I think
the developers are trying to
improve Bitcoin in 9 ways

22. @SDWOUTERS
9 WAYS to IMPROVE
bitcoin

23. @SDWOUTERS
Make transactions take up
less space in blocks1
SegWit

24. @SDWOUTERS
2 Move less important transactions off
the main blockchain in a secure way
Lightning NetworkSidechains

25. @SDWOUTERS
3 Speed up transactions
10
100
1000
10000
7
185
24000
Lightning Network

26. @SDWOUTERS
4 Increase privacy so the user
decides who sees their data
TumbleBit MimbleWimbleMAST
ZKCPOWAS
CoinJoin
Onion RoutingFlare Routing

27. @SDWOUTERS
5 Make the developer ecosystem grow

28. @SDWOUTERS
6 Enter new markets
Finance
Internet of Things?
Energy?
Supply chain?
Identity?
Intellectual
property?
Legal?

29. @SDWOUTERS
7 Make it easier/rewarding to run a copy of the
blockchain so the network remains decentralized

30. @SDWOUTERS
8 Make it easier for small miners to compete
so we have more decentralization
VS

31. @SDWOUTERS
9 Make it easier and safer to
store bitcoins on any device
Covenants

32. @SDWOUTERS
9 ways to Improve Bitcoin
1
2
3
4
5
6
7
8
9
Make transactions take up less space on the blockchain
Move less important transactions off the main blockchain
Speed up transactions
Increase privacy and put it in the hands of the user
Make it easier for the developer ecosystem to grow
Enter new markets
Make it easier to run a copy of the blockchain
Make it easier for small miners to compete
Make it easier and safer to store bitcoins

33. @SDWOUTERS
1
2
3
4
56
7
8 9
There are discussions about if/in which
order these should be implemented

34. While the road WILL BE BUMPY,
the future looks bright!
@SDWOUTERS

35. samwouters.com
Speaker on Bitcoin & Blockchain
Digital Transformation Consultant
at Duval Union Consulting
WWW
sam.wouters@duvalunion.com
Sam Wouters
@sdwouters

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