251–260 of 1001 posts
It worked. And it reduces the world's energy bill by 0.5%: https://twitter.com/JonathanBeuys/status/1570305323629527046 I feel a great disturbance in the force. As if a million miners cried out all at once and then were suddenly silenced.
Wait, the Ethereum blockchain alone was consuming 0.5% of the world's total energy?
> The Merge is one of the largest technological events in the industry to date. I feel kinda ashamed. I work in the IT industry and I claim to have knowledge about ("good") software engineering practices, distributed systems, compilers, algorithms, etc. Nevertheless, I didn't understand a word of what the article is saying. Could you recommend serious references (preferably books and not random blogs) I could read to…
I’m really curious what the GPU miners are going to be doing with their cards. Today may be as big a moment for gamers as it is for ETH devs.
For those interested in understanding the tech rather than the typical bashing things as beneath them, I wrote up a detailed technical explainer of how Ethereum PoS works: https://0xfoobar.substack.com/p/ethereum-proof-of-stake
Most people aren't bashing the tech, but bashing the excessive hype, fraudulent scams and money chasing.
> The Merge is one of the largest technological events in the industry to date. I feel kinda ashamed. I work in the IT industry and I claim to have knowledge about ("good") software engineering practices, distributed systems, compilers, algorithms, etc. Nevertheless, I didn't understand a word of what the article is saying. Could you recommend serious references (preferably books and not random blogs) I could read to…
Here is a good video that basically explains everything: https://www.youtube.com/watch?v=bBC-nXj3Ng4 This is not a very good explanation, but basically, you can have a "currency" using just asymmetric key cryptography: users simply sign "transactions". The problem is that you need a central authority to confirm the order of transactions, otherwise the recipient of a "transaction" will not know if the funds associated…
This is just a vague example, not a working idea. The point of it is that the level of security and trustlessness is not always required to be absolute. E.g. even with fully-secure pow crypto we still have to trust non-crypto claims about usdt, [non?]shitcoins, “hot” wallets, and other maybe-not-ponzis.
Earlier quoted context omitted.
Ethereum isn't supposed to be money (though it can be), it's fuel you use for doing other things. Do people use less oil because it's deflationary and gets consumed when used? No, because it's useful now. The most likely end game for Ethereum is being a replacement for all backend financial systems. Instead of having to hire teams of people to verify things or integrate various legacy systems together, everyone can b…
Banks would never switch to a system that makes all transactions publicly traceable, and they shouldn't. The industry has investigated blockchains for many years, since distributed consensus for transactions is a problem they actually have. They might run their own private chains. But it won't be ETH.
> Edgington, who began his career researching climate science before eventually landing in crypto, understood where his daughter was coming from. “Rightly or wrongly, she'd absorbed a very toxic environmental narrative,” he said. “I mean, it's kind of hard to defend ‘stickers for grownups’ that emit, by some estimates, a megaton of [carbon dioxide] a week.”
I’m really curious what the GPU miners are going to be doing with their cards. Today may be as big a moment for gamers as it is for ETH devs.
[0]: https://www.coinwarz.com/mining/ethereum-classic/hashrate-ch...
Great! Unlike BTC the miners can sell their gear so they are not down on their investment.. I imagine BTC miners putting up a good fight if this was on the table and they stand to lose all their asics
One, they are going to sasturate the market which will drive the prices down significantly. They cannot not saturate the market, because GPUs age due to new developments by manufacturers. This already makes the prospect of recouping initial investments rahter dim. Consider that non-miner market has a huge distain for miners and are willing to pay premium on new cards just to stick to the miners. I don't think resale…