What else do you use to determine who is (approximately) one person?Continue readingNode influence proportional to CPU power
Day: June 1, 2021
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Latency and locality
With a global p2p network, it is necessary to have all nodes receive the transaction, do some calculations and send results back.Continue readingLatency and locality
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Satoshi’s node-to-power ratio
The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used.Continue readingSatoshi’s node-to-power ratio
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Transactions – Trust No One
If knight’s “trust everyone collectively” meant, “trust in the process” I find that insightful and a good motto.Continue readingTransactions – Trust No One
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Bitcoin minting and botnets
If people believe that bitcoin is simply a way for botnet herders to convert spare cpu cycles into cash, they are unlikely to participate.Continue readingBitcoin minting and botnets
But I do think that is is really important to point out that all that CPU power and electricity usage is absolutely NOT required for the task at hand.Continue readingBitcoin minting: a critique of preceptions
I believe that the amount of energy input required to the bitcoin economy represents a serious obstacle to its growth.Continue readingBitcoin minting is thermodynamically perverse