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Earlier quoted context omitted.
Is Proof of Stake proof of waste? It has some of its own unique challenges, but I think it seems better in that it doesn't require committing lots of physical resources.
I guess that depends whether an exabyte is a lot.
Recent related threads: Thoughts on a “HDD shortage” from an industry insider - https://news.ycombinator.com/item?id=27008295 - May 2021 (106 comments) SSD makers start warning that mining products like ChiaCoin will void warranty - https://news.ycombinator.com/item?id=27001848 - May 2021 (381 comments) Chia surpasses 1 exabyte of hard drive space - https://news.ycombinator.com/item?id=26975734 - April 2021 (151 comm…
I am... Suspicious of all the chia articles popping up on HN. I have not seen the same kind of buzz happening in other crypto spaces about it. And I am also suspicious about the claims that chia is the one that is such a threat to data storage supply, considering there are other crypto currencies with a similar approach. Overall, I am inclined to say that this is a submarine and HN is falling for it. Regardless, more…
If all the usual crypto charlatans aren't "to the moon"-ing it, that is a strong indicator of value for me.
The reason it is getting play on HN and other tech focused outlets is because it is an interesting new project from the designer of BitTorrent, who clearly knows a thing about designing protocols.
If someone could create a cryptocurrency using proof that require people to pick up garbage, the world would be garbage-free in a month.
People would litter just to create more garbage to “mine.”
[1] Who uses Bitcoin for peer-to-peer payments? And the cryptocurrency ecosystem as it exists right now, far from allowing people to transact without third parties, is driving a cambrian explosion in third parties, because most people are incapable of transacting Bitcoin themselves.
This seems like an ad for Chia disguised as a hit piece. It doesn't help that the author's only other article is trying to pump Dogecoin.
To be honest I kind of wish someone would build a proof-of-bandwidth crypto. Miners would overtake data centers with cheap transit, driving the build out of more long-haul network. Some would then move to different neighborhoods just to get FTTH access, enabling more incentive for last-mile build out.
Orchid is a decentralized crypto market for bandwidth: https://www.orchid.com/ You can run a node and sell bandwidth to people who want to proxy traffic through your node
So, is deleting articles the new deleting vowels? facepalm
I asked this recently but the topic died before I got many answers. Basically, I’m not a cryptocurrency denier. I just don’t understand it. Do people want cryptocurrency because they want to spend it on stuff? Or do they want cryptocurrency because they want to sell it for other currencies? In other words, at what point will a cryptocurrency stand on its own as something that’s worth a pair of shoes? Instead of being…
1. Main advantage of it is that it can't be stopped.
2. Since it can't be stopped - it allows to evade any regulation from the government or the bank. If it replaces banking system - you can move around the globe with your capital and spend it the way you like. This is not the case at the moment
3. Bitcoin could become a currency if it was fast enough and fees were low enough. Which was quickly discovered to be not true since the complexity increased, transactions slowed down and no one agreed to upgrade block size since this is additional costs to mining.
4. Since bitcoin now is slow and expensive industry found another way to use it - store long term value without risk of government to inflate currency and steal your money. point#2 is still valid. Recent surge in prices is caused by this reasoning in my mind.
5. Since everyone earned enormous amount of money in past months people will keep hodling expecting the growth to continue, but it will slow down. Once it slows down - people will start selling to get their profits and there will be huge correction.
6. In the very long run bitcoin can go through multiple cycles of such growth and decline and either will become more predictable (community will come up with some rules on how bitcoin fees and speeds are regulated etc.) or will stay this a bit more dangerous but a but more free way to transfer value geographically and also over time.
It probably could be more dangerous to world governments if point #3 realized
I just... do not understand how smart, even _brilliant_ people, the sort of people who know enough to make something like this, can look at Bitcoin... the waste, the way it has utterly failed to achieve what it set out to do[1], everything, and thinks, I know, I want to do that, but instead of blowing up the market for GPUs it'll be SSDs. Why? To get rich? It even seems doubtful to me that the people who developed Ch…
Earlier quoted context omitted.
Orchid is a decentralized crypto market for bandwidth: https://www.orchid.com/ You can run a node and sell bandwidth to people who want to proxy traffic through your node
Curious about this idea. What happens if illegal stuff happens? Assuming bandwidth = internet. Side thought is renting out your mobile device for peripheral testing. That's something I was looking for recently video/audio specifically.