Earlier quoted context omitted.
You can't sell postgres table inserts.
Yes you can. Google made a business out of it.
Show me where Google is selling each row update operation for $13k a pop.
Beyond the Bitcoin bubble
91–100 of 244 posts
Re: Beyond the Bitcoin bubble
#92Isnt the author, well, supposed to keep his private key private? It was quite easy to create a text file with that 1b0be2162cedb2744d016943bb14e71de6af95a63af3790d6b41b1e719dc5c66 key and "geth account import key.txt" into a ethereum wallet to get a seemingly valid account. Please tell me that i am missing something very important here.
Uh, do you expect there to be any money in there?
There is also 1 LUN = 30$ in that account.
https://etherscan.io/token/Lunyr?a=0x6c2ecd6388c550e8d99ada3...
Re: Beyond the Bitcoin bubble
#93I am personally hoping we can survive the speculation craze and reach a point where we can use the block chain technology in revolutionary (or even evolutionary) ways. Since it’s tax time I can’t help but feel that the true long term danger to block chain technology isn’t draconian government regulation, it’s the IRS. For example I have a transaction earlier this year where I purchased some software for $15 BTC equiv…
Transaction fees back then weren’t as brutal so I will ignore that issue as I believe it is 100% solvable. What was truly brutal is that using standard FIFO accounting practices I owe an additional 30% tax on the “money” I spent. My cost basis for that particular coin amount was 10% of what the current price of BTC was when I made the transaction. For tax purposes, Bitcoin is not considered a currency, it is consider…
Oh I knew that before I spent it, it was more for the novelty of making a Bitcoin purchase.
Re: Beyond the Bitcoin bubble
#94Earlier quoted context omitted.
Your comment isn't very helpful. How about your share some of your insights about the "whole picture" instead of posting some giant list of random links about something called "cryptoeconomics". To me, cryptoeconomics currently seems to consist of designing unscalable systems to convert fiat currency into CO2 and useless digital tokens, some of which can manipulate other useless digital tokens, etc, all achieving pre…
Let me know if any of the articles below serves the purpose better for you. https://medium.com/@jpa_of_snc/blockchain-the-revolution-wil... https://medium.com/@jpa_of_snc/ethereum-the-machinery-of-cha... edit: at least you could read the definition of cryptoeconomics....
I've looked at that first article before. Nearly every single example listed could be done with a standard DB and/or required centralised trust. The author of the article doesn't appear to have put two and two together that if the land registry in Ghana wants a centralised public DB then obviously only the land registry itself should ever be allowed to write to that DB and why on earth do you need a massive, slow public network that the registry would need to pay to use just to confirm that it was in fact the land registry when it could just use a private key?
I do however think blockchains are an excellent, useful concept. Verifiable, non-repudiable, write-only audit logs are a fine idea and I can think of many uses for them. I've never heard a reason why they need to be run on inefficient, unscalable, power-hungry, untrusted, adversial public networks, however.
Re: Beyond the Bitcoin bubble
#95I hope the technology matures beyond 'blockchain' and marketing drops the 'coin' moniker and the gold rush dies down. Cryptographically verified distributed log files should have negligible hype value and be hidden part of the infrastructure. I predict that 10 years from now normal relational databases have infrastructure for shared, authenticated and verified rows and columns and we laugh at the ICO era.
I view the current cryptocurrency wave as proof of concept experiments of some very exciting technology. Building blocks that allow new design oportunities for things that were not viable or easily previously. Hopefully we do leave the laughable ICO era behind, and even if traditional relational databases get cryptographic features, but I feel the sum of capabilities the new technology can offer is larger than that.…
Coins are unavoidable in currency-like applications such as Bitcoin. But it is perfectly viable to run a coinless network. Energy is one area where coin backed Proof of work mining isn't very useful
Re: Beyond the Bitcoin bubble
#96Earlier quoted context omitted.
It can be equally well done with a Postgres database.
And leave all the INSERTs and SELECTs to a trusted third party like Uber?
The average person defines trust very differently than the average hacker, Hacker News reader, crypto-anarchist, or Ethereum developer.
For the latter group, trust means that mathematically nothing can go wrong. Everything is cryptographically proven, and short of being able to factor large primes, there is no logical way for the protocol to result in an incorrect answer, and no central authority that can abuse its authority.
For the average person, trust means nothing has gone wrong. When you first encounter a stranger, you open up a little bit, trust him with small secrets or small tasks, and see what happens. If she doesn't abuse that trust, you entrust her with progressively more vulnerability. Once someone or something has a long-time record of being in a place where they could have abused your trust but did not, they're considered "trustworthy".
For many people, Uber is still a trusted third party. Ditto Facebook and Google. For most of the media, they're not, because Facebook and Google together fucked over most of the media in a pretty large way. But half of America - and much of the rest of the globe - doesn't trust the media anyway, because the media's story is unrepresentative of their own lived experience. The average person determines who to trust on their own, irrespective of what the math says. For them, the fact that Ethereum has been hacked even though mathematically it can't be hacked is a big strike against it - unless they have another reason to trust it, like having made a whole lot of money speculating in it.
Re: Beyond the Bitcoin bubble
#97I don't understand the transit example presented in this article. I feel like I am missing something fundamental about the utility of any of these distributed services backed by their own type of coin. For the transit example you have some people who want to request rides, and some people who want to provide rides. OK. Someone develops an application to process these requests, in some kind of bidding system... How ar…
This - all things that can by done by SomethingSpecificCoin can be equally well done on smart contract platform ala Ethereum. There is no reason (except for rewarding founders and early investors) someone who want to provide taxi rides own specialized mining equipment for maintaining blockchain of a proprietary coin. I rode a taxi few months ago, and I don't remember having to change my currency for a TaxiCoin which…
it is illegal for him not to accept the national currency
According to the United States Department of the Treasury’s site[1], there is no federal law requiring that businesses accept currency or coins as payment for goods or services.
[1]https://www.treasury.gov/resource-center/faqs/Currency/Pages...
Re: Beyond the Bitcoin bubble
#98Earlier quoted context omitted.
The SEC is warning people so they don't get scammed. Good for them. Their actions aren't unwarranted because there's been a lot of scams. You're asking for an open market so that people can be defrauded.
Not really, first of all when SEC warns it is usually when people already actually get scammed. Second - if my father kept telling me "son, don't go there" I wouldn't know why, and how to distinguish safe places from unsafe. All I mean is that by scarring you don't protect people from being defrauded. And I wouldn't care if I'd like to see people being defrauded, but in fact I do care, and don't find the "scarring/wa…
My dumb friends can go get defrauded all they want, but if they know it is a bubble, and know they are mostly likely in the gambling unINformed losers end of the deal they will probably only get defrauded and gamble with what they are willing to lose. Like going to a casino.
Re: Beyond the Bitcoin bubble
#99I am personally hoping we can survive the speculation craze and reach a point where we can use the block chain technology in revolutionary (or even evolutionary) ways. Since it’s tax time I can’t help but feel that the true long term danger to block chain technology isn’t draconian government regulation, it’s the IRS. For example I have a transaction earlier this year where I purchased some software for $15 BTC equiv…
You legitimately made gains on those coins though and in this country we currently have a capital gains tax. What would you prefer? A loophole the size of a mountain for bartering appreciating assets? A special carve out for bitcoin? A removal of the capital gains tax (which would result in raising taxes for the poor or large deficits)? The system works the way it does for rather decent reasons.
I would prefer that the government control the supply of money and take a part of a preset emission to fund itself.
A second part of the emission could be used for UBI protecting the poor and getting buy in from the populous.
It would rid ourselves of the debtor's prison and the government would no longer be providing a yearly negative reward signal to it's financially successful citizenry.
Oh well enough fantasizing, time to guess how to report income tax on low liquidity asset income that hasn't, and sometimes can't, be liquidated. If I'm wrong it's time for bank account freezing and fines. Maybe jail time if I upset the wrong employee.
Feeling pretty scared in the home of the brave right now..
Re: Beyond the Bitcoin bubble
#100Earlier quoted context omitted.
Let me know if any of the articles below serves the purpose better for you. https://medium.com/@jpa_of_snc/blockchain-the-revolution-wil... https://medium.com/@jpa_of_snc/ethereum-the-machinery-of-cha... edit: at least you could read the definition of cryptoeconomics....
I've looked at that first article before. Nearly every single example listed could be done with a standard DB and/or required centralised trust. The author of the article doesn't appear to have put two and two together that if the land registry in Ghana wants a centralised public DB then obviously only the land registry itself should ever be allowed to write to that DB and why on earth do you need a massive, slow pub…
So, for transparency... I'm the author of both articles.
It's true that they could be done with a standard DB which would be managed like most of the other public / government IT throughout the developing world. The key to understanding the use cases is to look at the blockchain capabilities one by one and see where Ghana benefits from having a hard to modify public database.
If there is any subject that you would like to see developed or answered feel free to let me know. I usually write my articles as a way of responding to FAQ I receive in my consulting business.