Bitcoin Forum

When describing what the network of computers calculating the blocks does, the metaphor of weaving is much better than that of mining:

• done together (a network)
• to strengthen the fabric (the transactions)
• intertwining threads (cryptographic functions)
• with emerging patterns (the payment or other applications)
• upon new fabrics (alt-coins, with their separate blockchains)

Also, a nice bonus, the first computers were the automated looms that were programmed with punch cards, and gave rise to the Luddite movement opposing them, just as the incumbents oppose Bitcoin, and its automation of the opaque financial system.

Check out more details and nuances in the full article I wrote for Bitcoin Magazine:
http://bitcoinmagazine.com/12311/weaving-better-metaphor-bitcoin-instead-mining/ (http://bitcoinmagazine.com/12311/weaving-better-metaphor-bitcoin-instead-mining/)

What do you think?

It's a well thought out idea, deserving of at least one reply.   :)

meh.

It might, but there is no way a name change for mining will be widely accepted.

I guess string theory is kinda mixed in there somewhere  :-\

Well... I just dont know.. "What did you say you did again?" "Im a Bitcoin weaver.... I weave Bitcoins"

Thanks for the positive reply  ;)


And for the neutral-tending-to-negative one  ;D


Yes, I agree: if it gets picked up, it won't replace the mining terminology, even if it is better. That is path dependency for you!


It isn't, but you are probably right, I should have "weaved" it in! ;)


Good point. Do you think that mining is macho and admirable, while weaving is to be looked down upon?
"I strengthen the global tapestry of financial transactions. The computers? Think about weaving, that's what they do, only with numbers, not with textile fibers."

So i'm weaving.....my grand grand mother would be proud....

This man speaks the truth.
Behold, my new bitcoin miner weaver:

http://d1vr6n66ssr06c.cloudfront.net/wp-content/uploads/2014/01/BrokenAge.jpg

I was weaving bitcoin blocks using the latest 8-bit PunchCardMiner, but the reader got stuck on a lace card.

http://upload.wikimedia.org/wikipedia/commons/7/7d/IBM_lace_card.jpg

How do I fix this? Do I have to reset my memory drum?


In terms of weaving, when I first learned of bitcoin, there was another currency around at the time called loom.

https://bitcointalk.org/index.php?topic=2349.0

http://p2pfoundation.net/Loom

https://loom.cc/

Satoshi weaving the genesis block.....
http://www.williamson-labs.com/images/sage-memory-drum-1154.jpg

I like the thought process that went into this, unfortunately it's missing that one thing, block rewards.

Weavers weaving to make cash...doesn't have that "mining for gold" aspect that Bitcoin mining has.

Best thread on the forums at the moment.  ;D

Yes, you are right. And as every metaphor, it can't be perfect, otherwise it'd be the thing, rather than a representation of, a stand-in for the thing...

But also, the rewards are a temporary feature of the Bitcoin network. In only a 126 years there will be no rewards directly generated from weaving, and just as other activities, instead of magically paying for itself, it will be rewarded by those who value it.

In the case of bitcoin transactions on the network these will be the fees. People will pay to have their thread woven into the tapestry of the transactions.

weaving a chain of transactions to show the whole history of bitcoin.

whats next using this weave to predict fture fraudsters to kill off before they mess with bitcoin, and then learning how to bend the path of a bullet?

analogy: the movie 'wanted'

Bow we know why Satoshi is so quiet. He, like sleeping beauty, cut himself on the spinning wheel ;)

There's still rewards, they are called transaction fees.
And they pay ALOT if worldwide adaptation is achieved.

better metaphor

Rubixing

taking small segmants (tx data) verifying the colours match together (tx taint) and solving a puzzle to form a complete block

https://i.imgur.com/ipFC1Td.png

Rubixing. That's some food for thought!  :)

I think Mining is still much more better. It's easier to understand for people too.

it's probably a better metaphor but too late to change it i guess and also it sounds less cool.

FTFY

The block reward is a temporary bootstrap. At some point there will no longer be a block reward and people will have to go to history books to understand why it is called "mining".

if i employed you for 3 months, that would be considered temporary.. if i employed you for 120+ years, would you call that temporary?

for everyone living today, blockrewards are a permanent feature. as every single one of use will never see a day when rewards are not part of bitcoin.

i would say bitcoin rewards in our grand childrens future, will be temporary..

Transaction fees currently average about 0.1 BTC per block and the block reward will be less than 0.1 BTC per block in about 30 years. Of course, a rising exchange rate will put downward pressure on transaction fees, but they will still dominate the block reward in less than 120 years.