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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)

#31

Earlier quoted context omitted.

A friend of mine writes and edits ICO whitepapers. He's very skilled and gets paid pretty well for those skills.

The fact alone that writing and editing ICO whitepapers (plural) is something an individual can do as a job makes me trust ICOs significantly less.

Lawyers charge exorbitant amounts for writing contracts. Selling papers is not a new invention.

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#32

Earlier quoted context omitted.

You have seen nothing yet https://www.fiverr.com/writer_clara/write-and-proofread-your...

Oh God. Given the quality of this gig description, at least we know that whitepapers written by that person will be immediately recognizable as scams.

And yet, people will still invest in it.

The "Useless Ethereum Token" [1] subtitles itself as so:

You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.

Seriously, don't buy these tokens.

And people still invested more than $40.000 in it [2].

[1] https://uetoken.com/

[2] https://qz.com/1023501/ethereum-ico-people-invested-thousand...

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#34
post #24
post #9

Around 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.

Of course, but it would be cool if you could also calculate the public component on paper (and ideally verify it computerless as well). You could really create your bitcoin/ether/etc wallet with the public key only, whilst having an extremely low attack surface (private key never touches computer memory).

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#35
post #4

Earlier 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.

If he wrote http://mimblewimble.cash/20160719-OriginalWhitePaper.txt, I'd like to meet him!

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#37

Earlier quoted context omitted.

The fact alone that writing and editing ICO whitepapers (plural) is something an individual can do as a job makes me trust ICOs significantly less.

Smart money has always been on selling shovels to the gold diggers.

On the bright side, maybe the cryptoworld is merely investing on better GPUs by metric-tons of cash.

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#38

I've found it works best with artisanal sharpened pencils http://www.artisanalpencilsharpening.com

Well, the Paypal button actually works! I wonder if someone ever placed an order though...

There was a much lower price point originally, before he got sort of famous from the book, and subsequently a TV-show (Going Deep). The current price is basically to keep people from ordering, but still having it open if someone REALLY wants to get one.

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#39
post #38

Earlier quoted context omitted.

Well, the Paypal button actually works! I wonder if someone ever placed an order though...

There was a much lower price point originally, before he got sort of famous from the book, and subsequently a TV-show (Going Deep). The current price is basically to keep people from ordering, but still having it open if someone REALLY wants to get one.

Honestly, what is getting me is that his book on sharpening pencils is actually 224 pages long. That seems awful long on such a simple subject!

Re: Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

#40
post #38

Earlier quoted context omitted.

There was a much lower price point originally, before he got sort of famous from the book, and subsequently a TV-show (Going Deep). The current price is basically to keep people from ordering, but still having it open if someone REALLY wants to get one.

Honestly, what is getting me is that his book on sharpening pencils is actually 224 pages long. That seems awful long on such a simple subject!

And yet he made a half hour show with episodes such as "how to bounce a ball", "how to dig a hole, "how to open a door", "how to take a nap", etc.
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