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> Can you actually point out the misinformation? Yes. I submit to you this article. Consider the framing of bitcoin's utility and the immovability of the statu
by tal8d 6y ago
> Can you actually point out the misinformation?
Yes. I submit to you this article. Consider the framing of bitcoin's utility and the immovability of the status quo.
> This article is not proposing to 'waste energy' on folding proteins.
No, that accompanies the handwringing about POW - you can substitute an number of other silly suggestions: SETI, fusion reactor modeling, etc.
> This article points out that other systems may also consume a lot of energy, but they give our societies a ton of value in return.
Have you maybe considered the possibility that, I dunno, bitcoin replaces the fiat currency - as intended from the outset of the entire endeavor?
- Apocryphon 6y agoBOINC has many projects, several of which are geared towards solving open questions in mathematics https://boinc.berkeley.edu/projects.php https://boinc.berkeley.edu/projects.php
- tal8d 6y agoWhich is the worst thing you could possibly use to secure anything.
- Apocryphon 6y agoTake it up with the creators of Gridcoin
- tal8d 6y agoYeah, that is basically a science themed chucky cheese token - not an independent currency.
- Apocryphon 6y agoWhy makes it not an independent currency?
- tal8d 6y agoStep one, don't do this: "BOINC superblocks fetch a participant’s BOINC recent average credit, also called researcher RAC. RAC is based on a participant’s earned BOINC credits. !!!>>>*Credits and RAC are defined by BOINC*<<<!!!"
- Apocryphon 6y agoBOINC's unit of credit, the Cobblestone (named after Jeff Cobb of SETI@home), is 1/200 day of CPU time on a reference computer that does 1,000 MFLOPS based on the Whetstone benchmark Eventually, credit may reflect network transfer and disk storage as well as computation. Credit has no monetary or other value; it's just a measure of how much work your computers have done. Total credit: The total number of Cobblestones performed and granted. Recent average credit: The average number of Cobblestones per day granted recently. This average decreases by a factor of two every week. https://boinc.berkeley.edu/wiki/Computation_credit https://boinc.berkeley.edu/wiki/Computation_credit
- tal8d 6y agoLets just take the shortcut: Who assigns the the proofing unit? The metric doesn't even matter, it is a question of who. Now, who controls that? Once you figure that out you'll realize that you are trusting parties that you either didn't know you were trusting, or you kinda knew but didn't want to think too hard about because nobody really cares about chucky cheese coin. You can't be rewarded for performing useful compute without some degree of implicit trust, which makes you dependent on the other party. You can dress it up with quorum algorithms, etc - but it only further obscures the underlying vulnerability. That is fine for a token system, but not for a cryptocurrency.
- Apocryphon 6y agoOkay, thank you for deigning to explain your objections in detail. That is actually quite helpful, as it has decreased my interest in GRC. I appreciate your time in reading the whitepaper and pointing out the deficiencies in the design.