What Goldman Is Telling Big Money Clients About Bitcoin

https://github.com/EOSIO/Documentation/blob/master/Technical...

And decide

For investment only outlook

Token Model and Resource Usage

PLEASE NOTE: CRYPTOGRAPHIC TOKENS REFERRED TO IN THIS WHITE PAPER REFER TO CRYPTOGRAPHIC TOKENS ON A LAUNCHED BLOCKCHAIN THAT ADOPTS THE EOS.IO SOFTWARE. THEY DO NOT REFER TO THE ERC-20 COMPATIBLE TOKENS BEING DISTRIBUTED ON THE ETHEREUM BLOCKCHAIN IN CONNECTION WITH THE EOS TOKEN DISTRIBUTION.

All blockchains are resource constrained and require a system to prevent abuse. With a blockchain that uses EOS.IO software, there are three broad classes of resources that are consumed by applications:

Bandwidth and Log Storage (Disk); Computation and Computational Backlog (CPU); and State Storage (RAM). Bandwidth and computation have two components, instantaneous usage and long-term usage. A blockchain maintains a log of all messages and this log is ultimately stored and downloaded by all full nodes. With the log of messages it is possible to reconstruct the state of all applications.

The computational debt is calculations that must be performed to regenerate state from the message log. If the computational debt grows too large then it becomes necessary to take snapshots of the blockchain's state and discard the blockchain's history. If computational debt grows too quickly then it may take 6 months to replay 1 year worth of transactions. It is critical, therefore, that the computational debt be carefully managed.

Blockchain state storage is information that is accessible from application logic. It includes information such as order books and account balances. If the state is never read by the application then it should not be stored. For example, blog post content and comments are not read by application logic so they should not be stored in the blockchain's state. Meanwhile the existence of a post/comment, the number of votes, and other properties do get stored as part of the blockchain's state.

Block producers publish their available capacity for bandwidth, computation, and state. The EOS.IO software allows each account to consume a percentage of the available capacity proportional to the amount of tokens held in a 3-day staking contract. For example, if a blockchain based on the EOS.IO software is launched and if an account holds 1% of the total tokens distributable pursuant to that blockchain, then that account has the potential to utilize 1% of the state storage capacity.

Adopting the EOS.IO software on a launched blockchain means bandwidth and computational capacity are allocated on a fractional reserve basis because they are transient (unused capacity cannot be saved for future use). The algorithm used by EOS.IO software is similar to the algorithm used by Steem to rate-limit bandwidth usage.

Gemini is great, but they are slow to verify and as you stated very limited on your trading pairs.

https://github.com/EOSIO/Documentation/blob/master/Technical...

But I think most people are happy to forego those things and not have to worry about losing significant chunks of cash to fat-finger mistakes or hacks.

When most people barely know what a browser is, illuminating them to the intricacies of bitcoin seems a tall task. And if they can just use some system like Coinbase and "not even know they're using bitcoin," then they're essentially just using Paypal.

It's hard to see how it ever goes beyond a very niche market, and as long as that niche market is in a speculative frenzy it's hard to see how it becomes of much use to that market beyond a vehicle for speculation.

And should some group trade amongst themselves while avoiding censorship from some other group, the persecuted group as it grows in number becomes likely to use it's numerical sway to influence the govt doing the censorship in a new direction, or form a new govt that facilitates more efficient trade between the group.

And efficiency here refers not just to a couple ledgers instead of thousands, but also the massively reduced overhead of every member not having to do extensive security themselves, but rather offloading the security to central authorities.

Trust is beneficial to society, the more trust in a society the better a society scores on a host of other metrics.