61–69 of 69 posts
This article's premise is about how we are on the edge of new disruption. They seem to think it's all been done rather than we are now sitting on innovations that require an unwritten playbook. Kinda like google, smart phones, or Amazon/eBay in the beginning. The talent pool is small again and specialized. The story is far from written.
This article's premise is about how we are on the edge of new disruption. They seem to think it's all been done rather than we are now sitting on innovations that require an unwritten playbook. Kinda like google, smart phones, or Amazon/eBay in the beginning. The talent pool is small again and specialized. The story is far from written.
Written?
Disclosure: I own Bitcoin, Dash, and Sia, but I've sold most of my Bitcoin. I'm surprised I even have to spell this out for people, but here goes: Mining stops the double spend problem just like market makers solve the liquidity problem: A little bit is great, but at scale it's divorced from the public good it provides. We don't need the amount of mining that is going on in Bitcoin right now. It's just wasted cycles…
>It's just wasted cycles because of the economics of the damn thing. I think a lot of people miss that mining is zero sum when over the threshold that the network needs. For example if mining hardware costs dropped by one half, people catch up and mine with twice as much computing power, the network increases the difficulty of mining by two, and the same amount of bitcoin is distributed and secured as was before the…
Although outraged by the idea at first, I have to say that there are some benefits here: 0. This starves the advertising industry, which has insatiable apatite for private information, and questionable practices of obtaining it. 1. Payment is done using only CPU power and you electric bill which are private, and the process itself could be made secure and efficient by incorporating it into browsers. 2. Sites no longe…
> 1. Payment is done using only CPU power and you electric bill which are private, and the process itself could be made secure and efficient by incorporating it into browsers. Not really private... my electric meter broadcasts my power consumption in plain text on the 900MHz ISM band every minute... I used this program to read the meters of all my neighbors: https://github.com/bemasher/rtlamr ... You probably also ca…
As far as passing money between people goes, it's more private than giving someone cash in a back alley.
Earlier quoted context omitted.
Mining doesn't have to be a cost efficient use of cpu cycles for the person browsing for this to catch on, it just needs to be a more cost efficient use of bandwidth and server power for the entity serving the ads. Bitcoins are the consistently valuable and liquid coin, therefore it can make sense to serve bitcoin mining js.
It will never be, and indeed nobody has bothered to make a bitcoin minibg js. Why? Because each desktop CPU would only yield 20-30 megahashes per second, less if you don't want to slow the user's computer to a crawl. A server would need to manage millions of clients just to match a single ASIC miner which has efficiency rated in terahashes. And that amount of hash power would only return about 30 dollars in bitcoin o…
Disclosure: I own Bitcoin, Dash, and Sia, but I've sold most of my Bitcoin. I'm surprised I even have to spell this out for people, but here goes: Mining stops the double spend problem just like market makers solve the liquidity problem: A little bit is great, but at scale it's divorced from the public good it provides. We don't need the amount of mining that is going on in Bitcoin right now. It's just wasted cycles…
Ads make content available to people with no money to spend. Restricting content to those who can pay, instead of paying by ad placement, is only going to further the divide between social classes.
Earlier quoted context omitted.
>It's just wasted cycles because of the economics of the damn thing. I think a lot of people miss that mining is zero sum when over the threshold that the network needs. For example if mining hardware costs dropped by one half, people catch up and mine with twice as much computing power, the network increases the difficulty of mining by two, and the same amount of bitcoin is distributed and secured as was before the…
But the trust in the system increases. By your logic we would need only one computer mining. It always takes 10 minutes (or so) anyway...
Disclosure: I own Bitcoin, Dash, and Sia, but I've sold most of my Bitcoin. I'm surprised I even have to spell this out for people, but here goes: Mining stops the double spend problem just like market makers solve the liquidity problem: A little bit is great, but at scale it's divorced from the public good it provides. We don't need the amount of mining that is going on in Bitcoin right now. It's just wasted cycles…
Advertising will never go away. You pay for cable, yet cable still has ads. Micropayments could potentially be adopted as a short-term alternative, but if it were ever to become the status quo, publishers would just start adding advertisements on top. Then we'd have a system where we both pay money directly, and also have ads, which would be worse.
Can someone explain briefly how this works? I was under the assumption that you need to download the blockchain to be able to mine. Or in-browser mining just takes stabs in the dark?
Mining is typically something like: Hash(nonce + Hash(chain[including with new transactions])) So in some sense you need the chain but you can pass Hash(chain) to a client and let that just increase nonce and hash it. Without synchronisation the found block might be for a stale chain but if you're using someone else's power you don't care, and the nature of distribution here means it's likely to be fresh anyway in th…
Hash(nonce + 2^256 * Hash(chain[including with new transactions])) Still an oversimplification, of course.