gtrubetskoy

11 ms·

61.
by gtrubetskoy 9y ago
>> Is the value of pooled mining that participants in the pool share the nounce they’re calculating, to avoid duplicating work within the pool? This is an excellent question. The pools do not need to divide the nonces across participa
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Proof-Of-Work is a Decentralized Clock(grisha.org)
10 points by gtrubetskoy 9y ago|3 comments
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by gtrubetskoy 9y ago
> Coinbase in contrast is a gold standard of professionalism. I hope you're joking.
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by gtrubetskoy 9y ago
I am a little surprised by how most of the comments I see here attempt to compare LTC with a stock of a company where Charlie is a "CEO". It has nothing to do with that. Litecoin (and Bitcoin) are open source projects. They are dr
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by gtrubetskoy 9y ago
The way it's usually done in the US is employees have a special brokerage account which is closely monitored (and probably won't let you trade during blackouts). Even if you had your own account on the side, the brokers would have
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by gtrubetskoy 9y ago
They are registered as money transmitters in just about every state, not sure what the legal implications of that are exactly, but I doubt the regulatory bodies will just let it slip. If there is any suspicion of "fraud", then you
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by gtrubetskoy 9y ago
Exactly how do you "prohibit" trading a crypto currency?
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by gtrubetskoy 9y ago
This would all be fun and games, but I suspect the SEC will want an explanation and I'm not so sure Coinbase has a good one. I wouldn't be surprised if they are shutdown tomorrow before sunrise.
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by gtrubetskoy 9y ago
Fascinating how all the comments explaining that for fast and cheap transactions there is Litecoin (which has SegWit and Lightning) and pointing out BCash (still vulnerable to transaction malleability because it does not have SegWit) techni
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by gtrubetskoy 9y ago
Back when the last mile was a real problem, people got pretty inventive with using directional antennas to establish links over vast distances using unlicensed spectrum, which as far as I know is totally legal still. Here's a Cringely
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by gtrubetskoy 9y ago
> how is it not about Russia It could be, the key missing piece of information is the physical location of the actual router that is the ultimate source of this. It is only known by their peers or upstream and is not easily traceable (in
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by gtrubetskoy 9y ago
You only need to create filters for the routes you know, e.g. if you are an ISP providing internet connectivity for company X, then you know that the only advertisement from the link to X can be for X and if the link to company X advertises
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by gtrubetskoy 9y ago
> These are places in which routers from major western countries can sit basically side-by-side with routers from Russia and China. Are you saying that Russia and China should be worried?
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by gtrubetskoy 9y ago
This is a well known "feature" (because it is not a bug) of BGP and every ISP worth their salt ought to be doing route filtering to prevent this sort of thing. If they're not, then the traffic can be diverted to Russia or the
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by gtrubetskoy 9y ago
Because most people here sadly do not get it. Hacker news isn't what it used to be.
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by gtrubetskoy 9y ago
A bit of trivia: the word(s) "block chain" never mentioned in the paper.
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by gtrubetskoy 9y ago
But you can only have so much cash in your pocket. The bitcoin private key is 32 bytes always, regardless of the amount. For example here is the famous 37 BTC ($500,000+) donation to Andreas Antonopoulos yesterday, this couldn't be don
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by gtrubetskoy 9y ago
What we are learning is that there are far easier ways to steal bitcoin than the so-called 51% attack. Miner collusion would be so expensive to pull off and the amount of money you can steal this way is not that great - you still need the e
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by gtrubetskoy 9y ago
But you do need banks to store cash. And the bank better have a secure vault and security guards and cameras and all that. An elliptic curve key, which is what possession of bitcoin is, is just a large number. To send a bitcoin you need t
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by gtrubetskoy 9y ago
> Proof of stake is meant to consume less resources but then the power is then handed to people with the most money? I'm surprised nobody has caught on to the fact that the present fiat system is in essence a Proof-of-Stake one. &gt
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by gtrubetskoy 9y ago
Another aspect that is frequently overlooked is that keeping bitcoin requires no energy at all (literally you can write the key on a piece of paper), and a transfer (not considering the mining aspect) requires very little as well (it can be
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by gtrubetskoy 9y ago
Looks like the first mainnet transaction went through today? https://medium.com/@lightning_network/lightning-protocol-1-0... "As developers of the Lightning Network protocol, we’re excited to announce versi
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by gtrubetskoy 9y ago
> just because it’s premined doesn’t mean it’s a scam Not a scam, but there is a problem with premining. Consider the first 1 million Satoshi's bitcoins, which, albeit unintentional, still qualifies as pre-mining IMO - we don't
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by gtrubetskoy 9y ago
Plain Go, no frameworks (may be a little Gorilla toolkit components such as their mux), Postgres with sqlx and React on the front end. I describe it in detail here: https://grisha.org/blog/2017/04/27/simp
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by gtrubetskoy 9y ago
This article over-analyzes the situation and gives Lenin and co too much credit. What happened was very simple: * Russia is in the midst of World War I and things are rather rough for people. * Leftist/liberals use the situation to the
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by gtrubetskoy 9y ago
Back in September I've written down my thoughts on how Bitcoin price is determined in a two part blog (the second part is about pricing), and back then I concluded that Bitcoin will falter if it does not reach the cap closer to that of
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by gtrubetskoy 9y ago
I did something similar [1] though not nearly as detailed, whereby as of Sep 2017 I estimated the total hash power to be equivalent to 712,672 S9 miners, which roughly adds up to 8.584 TWh/year 8.584 / 109613 = 0.00008 = 0.0
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by gtrubetskoy 9y ago
Good point, and there is another twist I realized: sugar is used as filler (e.g. for removed fat in low-fat stuff), so Erythritol might not work because same volume of it would make it unbearably sweet. Personally, I'd prefer they just
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by gtrubetskoy 9y ago
Because price per pound: Erythritol: $20 Sugar: $0.44 Source: https://webcache.googleusercontent.com/search?q=cache:mhVolO... [Google cache, the original PDF is 404 Not Found] Edit: looks like one can find erythritol fo
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by gtrubetskoy 9y ago
All the Googles, Facebooks, banks, government supercomputers, etc, are "wasting" a lot more energy than Bitcoin, as pretty much all of the energy in the world used for computing is dissipated as heat, including the computer on w

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