Earlier quoted context omitted.
Monkeys with typewriters are currently busy banging out whitepapers for ICOs.
i thought they write the next Hollywood-Blockbuster?
No, they're way too good for _that_.
Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
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Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#22Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#23Bitcoin Paper Wallets (2015) | https://news.ycombinator.com/item?id=15302500
Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#24Around when this was published I looked into the feasibility of pencil-and-paper wallets. What would it take to generate a key-pair using just pencil and paper? There are tricks like big tables of precomputed multiples of the generator that make it easier, but you still need to do hundreds of 77 digit modular multiplications. And you want to be absolutely sure you made no mistake.
Well secp256k1 private keys are just 32 random bytes (with some minor exceptions) so I think you could arrange something with a plain dice and a little bit of time.
Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#25I think there is a market for selling hand-mined bitcoins as a novelty item, but selling individual hashes might be a pretty small niche.
It takes a lot of billions of hashes per bitcoin - I think your hand mined one would work out a bit too expensive for anyone to buy.
Not to mention that Bitcoins are indistinguishable from themselves. So that'd be a very niche idea.
Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#26I think there is a market for selling hand-mined bitcoins as a novelty item, but selling individual hashes might be a pretty small niche.
To be able to mine at all (with whatever speed), you need to be able to complete an individual hash operation in less than 10 minutes - before the next Bitcoin block is created elsewhere on the network - because you have to base your calculation on that previous block's hash. If it takes more than a day to compute one hash, it does not work, no matter how many of them you could theoretically do in parallel.
Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#27Earlier quoted context omitted.
It takes a lot of billions of hashes per bitcoin - I think your hand mined one would work out a bit too expensive for anyone to buy.
Not to mention that Bitcoins are indistinguishable from themselves. So that'd be a very niche idea.
You'd need a new coin. Perhaps some form of proof of work that could only be done by hand
Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)
#28Earlier quoted context omitted.
Monkeys with typewriters are currently busy banging out whitepapers for ICOs.
A friend of mine writes and edits ICO whitepapers. He's very skilled and gets paid pretty well for those skills.
No one is denying skills, just measuring skills on a “how many monkeys” scale.