vbuterin

29 ms·

241.
by vbuterin 14y ago
Because it's really inefficient and a horrible waste of electricity. Doing Bitcoin mining in that way basically turns it into a payment processor charging you through your electricity bill, with a 90% transaction fee.
242.
by vbuterin 14y ago
> However, the problem is that the amount of time it takes for a transaction to become "verified," i.e. be part of the official block chain, can take up to 10 minutes. You actually can accept transactions instantly just fine; the term "
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by vbuterin 14y ago
> from real goods to services Hence inventions like Canada's "goods and services" tax.
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by vbuterin 14y ago
The way I would see a hypothetical solution work is to target price stability directly through some kind of supply/demand mechanism - that is, add a way to create currency units at a few percent above some target rate and a way to destroy t
245.
by vbuterin 14y ago
http://ripple.com It's a cryptocurrency system that lets you store ANY currency that someone, somewhere is willing to support through it. So far it's just USD, AUD, EUR, CHF, BTC and a few others, but gold and silver are definitely going
246.
by vbuterin 14y ago
You can think of it as a magically valuable liquid flowing down a system of ever-growing pipes representing the blockchain where the transactions are linking points and txins and txouts are pipes with their cross-section areas corresponding
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by vbuterin 14y ago
Actually, Moore's law guarantees that the hardware will become useless much sooner than the Bitcoin mining rewards run out.
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by vbuterin 14y ago
My favorite is things like 'Role of UBIquitin and ubiquitin-like modifiers in Cellular regulatiON' ("RUBICON") - New Scientist called it "MAD" = "malformed acronym syndrome". http://www.newscientist.com/article/mg19025562.700-feedback....
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by vbuterin 14y ago
Private litigation ALSO has a nation-wide bureaucracy with an immense army of "conflict resolvers", and is often so inefficient that the litigation itself if often used by powerful corporations as a means of harassing their enemies. We need
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by vbuterin 14y ago
Generally, some kind of economic incentive solution works much better than outright bans. It allows the market itself to decide what instances of pollution provide enough value to justify their harm and which ones don't. The problem is, how