Note that Bitcoin is purposefully not turing complete. http://bitcoin.stackexchange.com/questions/17258/turing-comp...
https://en.bitcoin.it/wiki/Script wiki here
First paragraph:
>It is purposefully not Turing-complete, with no loops.
Ethereum: A Turing-Complete Cryptocurrency
11–20 of 88 posts
Re: Ethereum: A Turing-Complete Cryptocurrency
#12I don't understand who does all the turing complete contract computation. Presumably the miners, but they're paid to do some useless proof-of-work work, not the turning complete computation of the contract.
Re: Ethereum: A Turing-Complete Cryptocurrency
#13How do I mine them?
Re: Ethereum: A Turing-Complete Cryptocurrency
#14Text content: http://pastebin.com/NCGRv74u
(Saw comments that the site went down and still had it loaded on my machine)
Re: Ethereum: A Turing-Complete Cryptocurrency
#15They must run their webservers on top of their Turing-Complete cryptocurrency... their site seems to be down.
Re: Ethereum: A Turing-Complete Cryptocurrency
#16Re: Ethereum: A Turing-Complete Cryptocurrency
#17I don't understand who does all the turing complete contract computation. Presumably the miners, but they're paid to do some useless proof-of-work work, not the turning complete computation of the contract.
The fee goes to the miner who happens to find the containing block, yes. But not to the thousands of validating nodes integral to the network. And over time fees are given proportional to hashpower... which doesn't make any kind of sense. The incentives are all messed up.
Re: Ethereum: A Turing-Complete Cryptocurrency
#18I don't understand who does all the turing complete contract computation. Presumably the miners, but they're paid to do some useless proof-of-work work, not the turning complete computation of the contract.
The fee goes to the miner who happens to find the containing block, yes. But not to the thousands of validating nodes integral to the network. And over time fees are given proportional to hashpower... which doesn't make any kind of sense. The incentives are all messed up.
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Re: Ethereum: A Turing-Complete Cryptocurrency
#19I think the clever idea here (IMO) are the fees. An argument against implementing a Turing complete language inside Bitcoin or an Altcoin might be that it's hard to determine when execution should end. The fees allow arbitrarily complex constructs without any hard cap, while preventing abuse.
Maybe, but not the way its implemented here. The fee needs to go to all the nodes which perform the validation, not to the miners.
Re: Ethereum: A Turing-Complete Cryptocurrency
#20The currency has been hacked.