bitcoin

Thinky.done – early learnings

We’ve closed the garage door on our first experiment of 2014 over at thinky.do and there’s a post about what we learnt about bitcoin from our Open Wallet Experiment there. A few weeks ago we went public about our rebooted approach to experimentation, so what have we learnt about learning one month on?

First off, constraints are both good and bad, or, more accurately, helpful and limiting. We set ourselves the goal of thinking up and launching an experiment, in public, in a 4 week period. And, Yay us, we got it out of the door. Just. We might have had a better conceived, better executed experiment if we’d given ourselves more time, but we might also still be in idea generation phase, filling up whiteboards with hypotheticals and possibilities instead of results and learnings. We did it, it’s done, onto the next doing.

Second, the subject of the experiment. The extended Labs team were absolutely certain that Bitcoin was the right subject for our first foray. Everyone was talking about it, none of us understood it properly, this was our chance to learn. And learn we did. We now know how to buy it, look after it and spend it. We’ve also learnt that bitcoin is a hard thing to think about and a difficult tool to use for experimental purposes. Getting to grips with bitcoin took time and the technical restraints meant several ‘pivots’ before the Open Wallet Experiment got out there. And while we’re not bitcoin billionaires, we’re in a better position to talk to clients about the benefits and drawbacks of cryptocurrencies than we were in January.

And lastly, how we work. We couldn’t have done anything without help from a number of people. Colleagues in BBH, partners outside (particular thanks to the guys at MediaMonks for talking us through bitcoin practicalities), people who emailed and commented on the blog and our G+ page, all helped tremendously.

And so, on to Experiment No2. Trying to remember what we’ve learnt already, and not forget that each month we’re starting over, all over again.

 

The Open Wallet Experiment is live

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A few weeks ago we blogged about our recommitment to Labs experiments and our new ‘hit-and-run’ approach to experimentation. And now we’re pleased to say that our first experiment is now live, though there were, of course, some hurdles and hiccups on the way.

If you’ve been following the progress of this experiment on thinky.do you’ll know that we decided to make bitcoin the subject of our first field test. This subject came with certain technical and epistemological issues – it’s not all that easy to get hold of bitcoins even assuming you’ve understood what they are for and what you can do with them.

But we are interested in whether the very nature of cryptocurrency transactions – anonymous, underground, based on algorithmic trust rather than human relationships – leads to behaviours that can be best described as, er, shady. Or whether given the chance, perhaps the bitcoin community will prove itself as wholesome as a troop of Boy Scouts.

So we’ve set up bitcoin wallet (address and QR code below) into which anyone can make a payment.. We’re going to leave this wallet up and open until midday on sunday (assuming that all goes well!) and at the end of that time, everything in the wallet will be converted into ‘real money’ and donated to the Disaster Emergency Committee.

Wallet address – 19xnfvdAHitNErAGEhVnfkeBSTL8VVv8yV

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But we’re also going to do something possibly very ill advised and release the key for this wallet into the wild, meaning that anyone with the wallet address (ie anyone) and the key (ie anyone!) can both donate and withdraw money to and from the wallet. No-one should try this at home!

We’ll be posting frequent stats on activity in the wallet and while we can’t identify individuals, we can identify wallet addresses. So we’ll see how many donations are coming in, how many are leaving and we’ll be able to hero addresses giving generously and identify those wallet addresses taking advantage of this open experiment.

Bitcoin wallet key – 2G6uK7QwKRPntaS7drFSUVsUf24ZVmEaK8gET2K2Uj4w

So, let’s go – the wallet is open and so is the key. We’re not sure what’s going to happen next, but we’re looking forward to finding out.

UPDATE: This post went live at 16.24 and we tweeted about it at 16.27. It took less than 30mins for the 0.01 bitcoin (just over $5) to be withdrawn by a user with the wallet address 1NYR7RF4pdc1i923qGhnkkakCqDLL9dd45. Thanks for taking part :-/

Introducing thinky.do

 

As Jeremy hinted at last week, we want to make more experiments this year. One of the key things we took away from Robotify is the need for a more modest approach that genuinely allows for speed, failure, mess … experimentation, really.

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So for this year, we’ve baked lightness and pace into the process itself in order, we hope, to accelerate learning, but also to have more fun.

Our ambition is to create and release 10 experiments in 2014. We will do this by adopting a ‘hit and run’ approach to the exercise. Each month we’ll pose a new question, and we’ll run a live session to generate and prototype answers. We’ll force ourselves to ship something within 25 days and with a tiny budget – the month’s experiment needs to have sailed before we agree on the next brief.

We might end up with 10 failures, but we’re certainly hoping for 10 pieces of learning, 10 horizons broached, many more new people met and at the very least, to have done something fun with something new, every month for a year.

This new framework means our focus will be on people before machines, behaviours before builds and live development, not drawn out processes. Inspiration might come from platforms, from partners or from people’s imaginative uses of technologies and the web. It could come from anywhere really, as long as it gives us an opportunity to learn.

As well as more experiments, we’re also looking for more involvement from more people. So we’re going to be inviting the whole of BBH and our partner MediaMonks to experiment with us, and a bit later this year, look at how we can go even more open source. For now, we’ll post the question up on the blog before we run the working session and welcome comments and insight. And, as we did with robotify.me, we’ll make the learning process itself transparent, with briefs, ideas, and development being posted in (almost) real time on our new experiments platform.

This new home for Labs experiments is thinky.do. From now on, this is where anyone interested can follow the erratic ballads of Labs experiments, though of course we will point at new thinky.do activities from here and from our twitter every now and again.

 If you head there now, you’ll see that we’ve put up our question for the first experiment of the year. It’s all to do with crypto currencies and the creation of value. We’re holding our first live session this afternoon at BBH in London, so expect to hear more very soon.

We’re excited about switching up a gear in experimentation and we’re definitely curious to see what happens. If you’d be interested in joining us for the ride, please drop a note to collaborators@bbh-labs.com, leave a comment here or at thinky.do.