So I spotted 21.co the other day on Medium.com and it got me thinking about how monetising cyberspace is the root-cause of many cyber-problems. After all, monetising cybercrime is what is driving ransomware and the hacking of health insurance providers for valuable PII.
How will a marketplace like 21.co affect that? Will it legitimise cryptocurrency? And what will the average Joe do with their bitcoin?
21.co seem to be coming up with some neat tricks, but will we ever see the day when we pay for stuff using bitcoin? With the average block generation time wavering wildly between the 6-13 minute mark, the average site master with content to monetise is probably going to think seriously about adding a 2-6 block confirmation cycle into the purchasing time. If the content is available on-demand, waiting 20-30 minutes to get access is going to be a blocker for a user. Paypal is quicker, eh?
This seems to be the universal catch with cryptocurrencies. If you make it easier to generate a block it becomes easier for the bad guys to cheat the system. Its a constant balancing act between difficulty and speed.
Well 21.co want to add the 402 status code to HTTP (Payment required). If only I could get you to pay for viewing this…. well, if get a few thousand of you to access it daily I can monetise easily. That’s what advertising is for…that and hooking unsuspecting Flash users with a drive-by download.
Don’t you just love Cyberspace!