cryptodogemoon

10 ms·

31.
by cryptodogemoon 9y ago
If you design a system for mass adoption that exploits the masses and only benefits a tiny group of people and you publish your blueprints and claim the details were available, that doesn't change the fact that you've already lite
32.
by cryptodogemoon 9y ago
Completely wrong. The output is actually completely inverse. More work, more users, less output. The consistency you're thinking of is likely the algorithm that adjusts blocktime to 10 minute intervals.
33.
by cryptodogemoon 9y ago
No, this is purely the internal economic model of bitcoin production concerning work/energy/value input versus output to workers. Imagine someone tells you they've created a money printing machine that prints 21m BTC, and the
34.
by cryptodogemoon 9y ago
Early miners are exerting less energy and less work to produce more coins. The difficulty curve often further benefits early miners to be taking minimal risk when the design is reverse logarithmic.
35.
by cryptodogemoon 9y ago
There's no evidence to support your claim. Even if one provided blockchain transaction logs, they might just be moving funds to wallets owned by the same user.
36.
by cryptodogemoon 9y ago
Proof of Work simply facilitates existing capital to proportionately take over the network and supply. It becomes notibly problematic if the total distribution is produced within a small window of time, locking out entire swaths of the popu
37.
by cryptodogemoon 9y ago
As Satoshis minting algo was used, why should one user receive significantly more coins for such low effort simply for running the software at an early date? The end result is early users exploiting users who join the network after them. Po
38.
by cryptodogemoon 9y ago
>Are you suggesting he provides a bigger reward for work as time goes on, thereby providing more currency later in the piece? Yes. The minting design Satoshi choose merely granted a few users the majority of the supply for the least amou
39.
by cryptodogemoon 9y ago
Like any other product or service, when you exchange your money for BTC all that has happened is someone decided to sell you BTC and you gave them money. BTCs exchange rate is dependent on someone else offering money. If there's a mark
40.
by cryptodogemoon 9y ago
Satoshi actually used a manipulative log curve for his minting algorhythm which effectively created a ponzi style distribution scheme. The majority of BTC was produced to the small userbase for minimal effort, whereas time passes the comput
41.
by cryptodogemoon 9y ago
Why Bitcoin forks? Exchanges would be where the fraud happens. MtGOX was insolvent and yet they inflated the price of Bitcoin across all exchanges. Bitfinex is alleged to be engaging in the same market manipulation through margin wash trade
42.
by cryptodogemoon 9y ago
The technical implementations and actions speak louder than words. Bitcoin maximalists try to rationalize their design flaws, but ultimately it's simply software running a service. There are new teams working on improving designs and u
43.
by cryptodogemoon 9y ago
What? The core developers (employed by Blockstream) have intentionally kept the block size at 1MB in order to support the product they're attempting to develop (lightening network layers) which lets them facilitate federated payment pr
44.
by cryptodogemoon 9y ago
Throwing computational power at a PoW system for hash collisions is significantly more wasteful than simply reducing the cost of electricity itself or depositing the energy into a storage system for use at later in demand times. If free ene
45.
by cryptodogemoon 9y ago
Proof of Steak mearly gives power to whomever has established wealth. It is a marginal improvement over PoW, when the PoW algorithm is not computationally useful outside brute force hash lotteries and capital infrastructure race speculation
46.
by cryptodogemoon 9y ago
A battery system would be more useful and less wasteful.
47.
by cryptodogemoon 9y ago
There's an irony in proof of work as means of producing a currency supply to thwart centralized financial institutions when the people with existing capital are in the most advantageous position to take over the minting and infrastruct
48.
by cryptodogemoon 9y ago
Banks offer many services in addition to secure and insured deposits. The same cannot be said for wallet software made by anonymous internet devs with a lower barrier to implant obfuscated back doors to steal user funds irreversibly. Bitcoi
49.
by cryptodogemoon 9y ago
Why bother with a second layer when new blockchain designs improve upon the designs of Bitcoin? The ledger is "secured" by about 6 mining pools which might even be controlled by the same people. Second layer goes completely agains
50.
by cryptodogemoon 9y ago
Their claim of 0 fees will not last. It means DDOSing will be trivial, and their network will be crippled.
51.
by cryptodogemoon 9y ago
> Blockchain and Bitcoin is different than physical resources because it's so easily produced. The whole point of PoW is that it is not easy to produce Bitcoin -- physical goods have scarcity enforced by nature; Bitcoin
52.
by cryptodogemoon 9y ago
verge offers nothing interesting in terms of privacy or features. its just a boring clone with a forced TOR connection. the marketing is great though!
53.
by cryptodogemoon 9y ago
"Satoshi" choose to produce the largest percentage of the total Bitcoin supply to the smallest group of users for the lowest computational effort/value input. Rather than designing the supply distribution to coincide with inc
54.
by cryptodogemoon 9y ago
The production curve Satoshi designed was to produce the largest supply of Bitcoins for the least amount of effort/resource input to the smallest group of users running the software. Half of the supply was produced this way in the firs
55.
by cryptodogemoon 9y ago
Volitilty will be inherent with bitcoin, and any blockchain database where the supply has been distributed for low computational/energy/capital input to the small pool of users who aquire majority stake in the total supply, thus
56.
by cryptodogemoon 9y ago
Tether and it's sister company, Bitfinex have had a long history of extremely suspicious and opaque behavior. The CEO has been quoted as sympathetic towards a known ponzi scheme after it vanished with everyone's deposits. https:&