21 APIs & Bcoin: Are They Bitcoin's Next Killer Apps? - YMB Podcast E145

## YMB Podcast E145: APIs & Bcoin - A Summary

1. Narrative Summary:

The YMB Podcast episode delves into the fascinating resurgence of 21 Inc. and its Bitcoin computer, revisiting a topic previously discussed years ago. The focus is on the potential of APIs and a network called "Ping 21" to unlock new and practical applications for Bitcoin. Globe Spotter.co, a server monitoring service, serves as a concrete example of a consumer application built on the 21 computer. This service, along with others, leverages a network of nodes where users can run software and get paid in Bitcoin for their computing power. The podcast explores the innovative model of paying for APIs directly, per call, using Bitcoin, bypassing traditional monthly subscription models and fostering a more decentralized and efficient marketplace. While acknowledging centralization concerns surrounding the current 21 platform, the hosts are optimistic about its potential to be a "killer app" for Bitcoin, demonstrating a real-world use case and driving further innovation, even suggesting it's vital for Bitcoin's long-term survival.

2. Main Topics Discussed:

• 21 Inc. & the Bitcoin Computer: Revisiting the company and its hardware, highlighting recent developments and consumer applications.
• Globe Spotter.co: A server monitoring service built on the 21 computer as a practical example.
• Ping 21 Network: A network of nodes that run software, provide API information, and are compensated in Bitcoin.
• APIs (Application Programming Interfaces): Explaining what APIs are and how they function, using examples like Twitter and Facebook.
• Bitcoin-Based API Payments: Exploring the model of paying for APIs directly with Bitcoin per call.
• Decentralization & Efficiency: Discussing the benefits of a decentralized API marketplace, eliminating aggregation and overhead.
• Distributed Computing: How the 21 computer simplifies distributed computing and encourages participation.
• Centralization Concerns: Addressing the centralization challenges associated with the current 21 platform.
• Comparison to Purse & Safe: Drawing parallels to other Bitcoin-powered innovations like Purse and Safe.
• "Killer App" Potential: Assessing the potential for this API model to be a significant application for Bitcoin.

3. Key Quotes:

• Daniel Brown: "And we want to talk about the whole service some more. It's been a long time. There's tons of new stuff that it's been announced about what they're doing and how they're supposed to work."
• "The fact that money is involved here, I think it's huge because now I want to do it." - Expressing enthusiasm for the Ping 21 network.
• "It's the market, right? It's the marketplace." - Referring to the direct payment model for APIs.
• "The fact that it's on Bitcoin... you can directly pay the person that does the work. There's no aggregation and centralization and overhead. All that stuff is just gone." - Highlighting the efficiency of Bitcoin-based API payments.

4. People Mentioned:

• Daniel Brown (Podcast Host)
• Tim Baker (Podcast Host)
• John Stewart (Podcast Host)
• Daniel (Mentioned in relation to the API marketplace)

5. Bitcoin Price:

• No specific Bitcoin prices were mentioned in this episode.

Sponsor: Satoshi Dice (Bitcoin casino - sd.u, me and btc.com) - Blocked in the US.