421–430 of 431 posts
Earlier quoted context omitted.
Also a good time to point out that there are energy efficient blockchains that work differently from bitcoin -- not all crypto is as power hungry (some use disk space, or memory, or even just the tokens themselves to replace bitcoin's proof of work model).
So point them out, please. One that is efficient on all levels.
Earlier quoted context omitted.
that’s not how 51% attacks work. you have the miners but you also have the actual bitcoin nodes that are witnessing the blockchain growth.
Do the witnesses have any weight on the consensus?
Earlier quoted context omitted.
But it is individuals, not governments, who mine Bitcoin. In fact, the people who mine Bitcoin don’t like governments very much, and wouldn’t cooperate with a government-imposed Sybil attack that would devalue their state-independent store of wealth, any more than they would cooperate with said government going to war with a country they’ve exported all their investments to. Such people would actively seek to use the…
> But it is individuals, not governments, who mine Bitcoin. Bitcoin mining has outgrown this stage. It's more like companies, now. > the people who mine Bitcoin don’t like governments very much, and wouldn’t cooperate with a government-imposed Sybil attack... Early Bitcoin proponents don't like governments much. Chinese miners are another story. They see a business opportunity and have no interest in losing social cr…
Myself - I pay my 28%. No loopholes.
Earlier quoted context omitted.
A very large amount (something about 25-47% [1]) of homes use electricity without getting any computation for their electricity to heat conversion. Those homes could use computing devices (albeit at a high capital cost) with 0 marginal energy or environmental cost. Especially if their device is a sunk cost. Yes heat pumps are better than 100% efficient, but they're inappropriate in many circumstances, and can be as e…
> This ROI _could_ be funneled into carbon offset projects, renewables, and research. They could also just take the costs that would go to ASICs and instead put that into the investments in the first place. What actual utility is there in some mathematical computations for society as a whole?
I know it's tempting to argue along the lines of "What could be more important than the environment?" and that is a good question, but that is a shift in societal values question, not an economic one. Economics simply helps one optimize the outcomes towards a values set.
Earlier quoted context omitted.
Thats why the only cryptocurrency that really appeals to me now is Chia with its Proof of Space. Not zero power usage, but better, and I like the design goals and its approach.
I assume you mean storage space. There you run into the same problem if you scale the system. The proof still needs scarcity in whatever storage is made of. For many natural resources, the local concentration is key to viability. See phosphorus, or helium depletion. Once the reserves are gone, we cannot maintain our scale of production, as alternative extraction usually is too energy intensive to scale. Please consid…
You went on a rant that started barely connected and ended up talking about food production for 7 billion people (which is currently happening by the way since there are about 7 billion on earth).
Earlier quoted context omitted.
> if you don’t touch your coins, no one can take them away from you. (A 51% attack can’t reassign coins.) it can't generate new unsigned transactions but it can roll back the network to a state when someone else owned those coins. from a practical perspective there is no difference, you no longer have those coins.
Couldn’t you retransmit the transaction to the nodes (assuming you had a copy of the old blockchain) and assuming let’s say Kraken/Coinbase etc isn’t wanting to profit from the attack and already spent it to another address, you can receive the funds “again”
Earlier quoted context omitted.
What if this drop in hash is to use on the 2nd chain?
Well we have a good explanation of the drop: the power outages. Also with 25% hash power you're going to have a hard time doing a 51% attack.
They're is literally no way to know what really happen.
Earlier quoted context omitted.
Well we have a good explanation of the drop: the power outages. Also with 25% hash power you're going to have a hard time doing a 51% attack.
Let's say I'm a bad actor in us. I hear about this event in China and I start to do the 2nd chain. You'll think that China region was doing that 25% but maybe they were only doing 1% and I did the other 24%. They're is literally no way to know what really happen.
If you were running your own pool then people would likely be tracking your pool and know where you're located. But if you are keeping a low profile and participating in a variety of other pools, then you might go unnoticed. But still, the pool operators might track which IPs are submitting work, and geolocate them, and see which countries are dropping in their work submissions. If you had ran all your stuff through a Chinese VPN historically, then it would make sense. Although usually you want the lowest latency possible when mining to avoid losses due to submitting stale work. A VPN would probably hurt your profits a little.
Earlier quoted context omitted.
Let's say I'm a bad actor in us. I hear about this event in China and I start to do the 2nd chain. You'll think that China region was doing that 25% but maybe they were only doing 1% and I did the other 24%. They're is literally no way to know what really happen.
Interesting idea. If you were running your own pool then people would likely be tracking your pool and know where you're located. But if you are keeping a low profile and participating in a variety of other pools, then you might go unnoticed. But still, the pool operators might track which IPs are submitting work, and geolocate them, and see which countries are dropping in their work submissions. If you had ran all y…
But considering that there is so much money at stake, an elaborate plan like this... It's possible. Actually it's not even that elaborate. You just need a vpn, and do the split based on news.
Earlier quoted context omitted.
Interesting idea. If you were running your own pool then people would likely be tracking your pool and know where you're located. But if you are keeping a low profile and participating in a variety of other pools, then you might go unnoticed. But still, the pool operators might track which IPs are submitting work, and geolocate them, and see which countries are dropping in their work submissions. If you had ran all y…
Do you really think that 1s delay will influence any income... I really doubt it. But considering that there is so much money at stake, an elaborate plan like this... It's possible. Actually it's not even that elaborate. You just need a vpn, and do the split based on news.
https://www.reddit.com/r/MoneroMining/comments/9sph9w/does_n...
https://ethereum.stackexchange.com/questions/18201/does-netw...