I read the whitepaper, looked at the code, and with that understanding I can see Tau-Chain has massive potential.
The uncertainty is whether or not it can be developed to meet it's potential. If it can do what I think it can do, then it should be self funding and self sustainable once it gets up and running, similar to Bitshares, Ethereum, or NXT, where the community will be able to simply vote on proposals or fund new development using the market mechanisms.
Tau-Chain also has some unexpected surprises in how it has evolvability, which is something a lot of developers overlook. The only problem with Tau-Chain at this time is the difficulty in explaining the concept, and the uncertainty around whether or not it will work, but that is the same uncertainty Bitcoin had, Mastercoin had, Bitshares had, NXT, had, Ethereum had, so if you give money to Ohad consider it donation for the furthering of a science project which has potential to change the world if successful.
Thanks! Would be nice if you could point to what you're not convinced is possible, and maybe I'll be able to point to existing implementations of such. What I meant is that while everything about what you are doing is logically sound, the theory is correct, the uncertainty is whether or not you'll be able to build out the design with the limited funding you've received so far. The design is excellent so I can't really find any flaw with it but it also seems like it would take years to code. What I like about it is that it seems to be the most scalable and flexible design possible, while also being secure. You've changed my opinions on Turing completeness, I now see that the Tauchain way of doing things is correct. Please try to find a possiblity to prevent pool mining. This is in my opinion the biggest issue of BTC...
From my understanding, Tauchain can run Bitcoin inside it, or really run any practical implementation of any algorithm. So if Tauchain is built I don't see why you can't do far better than Bitcoin from within the Tauchain space. Sorry if I'm not the best at explaining things but I see the same sort of potential with Tauchain that I saw with Bitcoin. Bitcoin is like an app which can run on Tauchain, and all apps are just proofs, algorithms. So any app should be able to run on Tauchain in theory without any practical limitation. Ethereum will have some issues because of the insistence on being Turing complete which while sounding nice but I see no practical benefit yet I see security risks. The only concern I have with Tauchain is people might not understand it. It has the potential but just like with Bitcoin, a lot of people might have to learn a lot of new concepts to understand what exactly it is. I suppose once there is a demo out there, so people can have some evidence that it works in practice rather than in theory, then we will see adoption. The main issue I think people have when they first learn about Tauchain is that it is doing something they previously thought was impossible. Of course if you look at the references section of the whitepaper you can trace back the thought processes of Ohad to find that it is plausible, it just hasn't been tested in practice as far as I know. I've not seen anything like Tauchain built before, only talked about. |
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I read the whitepaper, looked at the code, and with that understanding I can see Tau-Chain has massive potential.
The uncertainty is whether or not it can be developed to meet it's potential. If it can do what I think it can do, then it should be self funding and self sustainable once it gets up and running, similar to Bitshares, Ethereum, or NXT, where the community will be able to simply vote on proposals or fund new development using the market mechanisms.
Tau-Chain also has some unexpected surprises in how it has evolvability, which is something a lot of developers overlook. The only problem with Tau-Chain at this time is the difficulty in explaining the concept, and the uncertainty around whether or not it will work, but that is the same uncertainty Bitcoin had, Mastercoin had, Bitshares had, NXT, had, Ethereum had, so if you give money to Ohad consider it donation for the furthering of a science project which has potential to change the world if successful.
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Update on POSv and other things. Here is the status, the founders board has paid 50% of a development fee to the team behind Cannacoin for the POSv project. The amount was paid and accepted in BTC. To date we haven't had a status update for 3 weeks. So we ask the following from the community. 1. If you know how to reach the cannacoin lead devs, please ask them about the status of the Solarcoin POSv dev project or funds. https://bitcointalk.org/index.php?topic=740903.0 The cannacoin site seems to have gotten quiet, this might be due to other projects they are involved with. 2. If you know a trustworthy developer who can get SolarCoin to POSv please introduce them to me. This provides us with a rapid plan B. The project involves the following 1. migrating the current coin code base to POSv 2. maintaining the transaction messaging TX message capability. 3. Do this using the current SLR blockchain. We mistakenly went down a rabbit hole with a migrate to a new block-chain solution, which is too risky. 4. Deliver a compiled MacOS, Win and Linux compilable code as well as leave the source up in the repository https://github.com/solarcoin/solarcoin On other fronts the foundation has engaged a marketing specialist who focuses on growing communities to identifying the cost and methodology for getting to 50k users. The individual has built campaigns at the regional and national level working with govts, banks and brands over 30 years. the target of 50k SLR users creating just half the economic utility of BTC (market cap/# of BTC users) is likely to be interesting. A very high level security specialist with 20 yrs experience is working on a budget and timeline for the following projects: 1. securing the generator/ genesis pool, 2. building a website backend that can enable a skinnable wallet: think easy mobile and web affiliates. 3. toolset and architecture for general affiliate security model so that is what is going on. Nick Are you sure you weren't scammed? I don't see much advantage going with PoSv. Ethereum launches soon, as will Sidechains for Bitcoin. Eris exists now and is in testing: https://erisindustries.com/What advantage does PoSv have? It's hard to update it because it's hard coded most likely in C++ so what benefit do you have if you'll have to update it in a few years anyway? Using Eris you can make your entire foundation a decentralized organization or DCO. You could also automate certain aspects with smart contracts which in the long term will make the process run more smoothly. Development has been handed over to Vericoin. Both posv and post are being considered. Etherium like technologies are also being considered for future development. The thread has this history. Good. I think Eris is probably best for a project like this because you can easily build it into a DCO and put the unclaimed coins into a pool controlled by a robot in decentralized space using a smart contract. Eris is the most flexible and allows the Solarcoin Foundation to remain an independent entity. It's probably also the cheapest to upgrade and configure so you wont have to keep paying lots of money to C++ developers. The community will eventually be able to write smart contracts. Hopefully PoSt is just used to transition the community to PoS and away from PoW. The next transition could be to Eris and to make the Solarcoin foundation into a DCO. Solarcoin is a great idea with a great future but it's still relying on a bit too much trust at the moment in it's design. |
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Update on POSv and other things. Here is the status, the founders board has paid 50% of a development fee to the team behind Cannacoin for the POSv project. The amount was paid and accepted in BTC. To date we haven't had a status update for 3 weeks. So we ask the following from the community. 1. If you know how to reach the cannacoin lead devs, please ask them about the status of the Solarcoin POSv dev project or funds. https://bitcointalk.org/index.php?topic=740903.0 The cannacoin site seems to have gotten quiet, this might be due to other projects they are involved with. 2. If you know a trustworthy developer who can get SolarCoin to POSv please introduce them to me. This provides us with a rapid plan B. The project involves the following 1. migrating the current coin code base to POSv 2. maintaining the transaction messaging TX message capability. 3. Do this using the current SLR blockchain. We mistakenly went down a rabbit hole with a migrate to a new block-chain solution, which is too risky. 4. Deliver a compiled MacOS, Win and Linux compilable code as well as leave the source up in the repository https://github.com/solarcoin/solarcoin On other fronts the foundation has engaged a marketing specialist who focuses on growing communities to identifying the cost and methodology for getting to 50k users. The individual has built campaigns at the regional and national level working with govts, banks and brands over 30 years. the target of 50k SLR users creating just half the economic utility of BTC (market cap/# of BTC users) is likely to be interesting. A very high level security specialist with 20 yrs experience is working on a budget and timeline for the following projects: 1. securing the generator/ genesis pool, 2. building a website backend that can enable a skinnable wallet: think easy mobile and web affiliates. 3. toolset and architecture for general affiliate security model so that is what is going on. Nick Are you sure you weren't scammed? I don't see much advantage going with PoSv. Ethereum launches soon, as will Sidechains for Bitcoin. Eris exists now and is in testing: https://erisindustries.com/What advantage does PoSv have? It's hard to update it because it's hard coded most likely in C++ so what benefit do you have if you'll have to update it in a few years anyway? Using Eris you can make your entire foundation a decentralized organization or DCO. You could also automate certain aspects with smart contracts which in the long term will make the process run more smoothly. |
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Agreed to the above-mentioned by Corather. Wallets, with say more than x thousand SLR should be kept in cold storage ; much as a lockup period would lock shareholders in a company from selling off (too soon) their stock. This will help keep a healthy price for SLR and claimants.
Just use a vesting period. |
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If people want to develop the PoS software they can bid for it. That's the only fair way of getting the job done.
Lowest bid wins.
Why use PoSv? Why not use Ethereum or Eris? |
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OK, so your in the cash collection phase. And even changed your original plans without refunding the money you already collected.
I didn't collect that much so far  When I find out a new thing (namely, tauchain) that makes the classic blockchain obsolete, I think the correct thing is to move to the new tech. ofc this was done with a lot of thinking and getting advice. What's the advantage and disadvantage of Tau-chain comparing with the classic blockchain, what about the blockchain of NXT? The most truthful and covering answer would be: on tau's chain, rules and behavior can be changed over time by the users. But this answer is obviously not enough. Let me state a very particular use case: Over tau one could give a formal specification of a program to be written. Like: a program that only verifies if a given program meets some requirements. Of course, it is inherently much easier to verify a program than to write it. Now, whoever supplies a code that fulfills the requirements, will be able to supply a logical proof for that (it is possible with functional programming languages), and the network will automatically reward them the coins offered for the implementation. Moreover: next time someone will look for a program (or function) answering those specifications, the answer will already be there, and code will be able to be reused. Brilliant. I'm going to be watching this. Theoretically it could work but right now I don't know if you have the ability to build it. |
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Hi all, Thanks Corather and Mazzaneo for mentions.  A short update on my project called the #solarcoinalphaproject. I promised that the first version would be out by late October so I thought I had better inform about the schedules. I am running behind schedule. The goal of the project is more of a running proof of concept to show that an encrypted signal can be sent from a stand-alone PV system's API to any required receivers to accurately and securely prove the number of solarcoin's being generated by the system during daylight hours of operation. 0) Design completed. Electrical design and then some tests of the gateway and its communication to the software teams API. Completed. I had some initial road blocks here. 1) Components procured and delivered. So far it also includes a global pyranometer enabling the system to have a prediction mechanism inbuilt based on historical weather data for the location. 2) Weather proofing tested for battery box. 3) Power system DC Wiring half completed. 4) Meeting with software team completed. Understand tasks. Remaining: 5) Communication box wiring 6) Dry test and link to API. 7) Stability and running for 1-2 weeks.  Writing the white paper (in parallel) to explain the prediction technology, the link to the API and possible further work ( I hope others can pick up from where I stop) i.e. secure blockchain calls and receives because my area of expertise is solar yield prediction technology, solar PV systems and PV monitoring systems, not networking security. Please note, the system is only a proof of concept intended to show what could be done theoretically. It would not interfere with anything. Thank you, -lfloorwalker Hi All, I'd like to introduce myself here as a "oldtimer" of the solar industry, as I've been into solar since the mid-late 2000's and installed mostly household rooftop applications (in the hundreds) and studied PV Farms to the bone. So my background would rather more be into the hardware rather than the software side of things, sorry for that. Congrats to those who braught solarcoin already so far, its now time for people like me to put some steam into the solarcoin and create some buzz. I'd like to join in and bring some advice to push the currency further into its development. First of all, thanks to Mazzaneo, as I've been discussing much with him about solarcoin (I'm one of those 8 investors) and wouldn't be here without him. Having read the brilliant DeKo paper, it seems to me that this cryptocurrency, in sharp contrast with many others, actually makes a lot of sense (and good). So in a word, I believe a lot in this cryptocurrency and the work accomplished to date is impressive. My concern is Value. Indeed, in order to pickup and move (fast) forward, the solarcoin currency needs to prove that it creates value. You can argue to the fact that whereas fiat ccy is backed by gold on (at best) a 5 to 1 par (ie there is only 1USD of real gold value per 5USD of papermoney circulating out there), solarcoin actually is closer to a real, proven and quantifiable 1 to 1 ratio (ie. 1MWh of tangible solar electricity = 1SLR), so in essence, solarcoin is more trustable than gold. But my concern is the tangible. Indeed, in order to take off, this currency needs more than developers and investors. My concern stems to the fact that, in order to bring attraction to the currency, buzz has to be created ; people have to be enticed to either invest (with a forward thinking) into solarcoin (although there is a limit to that, if it is not to create a bubble) and/or list their solar farm or solar rooftop application through the Solarcoin Generator Registration Program. So in order to take off, solarcoin now needs hardware : actual pv fields or solar rooftops. Only then will it be proven that value is created. PV owners should simply register then! The thing is : it's too complicated. Most of the folk I know from my generation will be very dubious about cryptocurrencies in general, so why would they actually upload information of their solar rooftop application (remember that they need a solarcoin wallet to do this!), let alone invest in the ccy itself...! Alas, if we don't have any registered solar farm or household PV applications, then widespread adoption of the currency will not follow (there currently is "only" 50.000 coins out there which have been registered through the SolarCoin Generator Registration Program). So we need an answer to this dilemma. To my mind, what you are doing, Ifloorwalker is just that! By reviewing this Datalogger concept, you are creating a tool to help register these solar applications and create value. So what is a datalogger ? Lets get to the basics : An array of solar panels is connected to a/several inverter(s). Light (photons) activate solar cells of the solar panel which, in short, produce electricity in the form of DC current. The inverter converts DC into AC current and then, passed a couple of transformers, you feed this electricity into the grid. I'm sure by now everybody knows this. The inverter may be equipped (at the request of client, financing party/Bank) with a transmitter/controller/datalogger in order to monitor the amount of solar energy produced (kWh) and fed into the grid. This datalogger is attached directly to the inverter via an RS-485 (or other) cable. Usually, each inverter producer markets its own datalogger. They can be cabled (ethernet), wireless (wifi) or even remote-controled (with a mobilephone chip – sim card that will transmit the information on a daily/hourly basis to a Control Unit (usually at the headquarters of an Installer or an inverter manufacturer who supplies some extendible guarantee on the equipment)). I will kindly refer you here to some types of monitoring devices/datalogger used widespread in the market : SMA's (inverter manufacturer) inverters are plugged to a datalogger (the sunny webbox) which will display indoors (on a small screen called the "sunnybeam") or directly onto your computer screen (via the "sunny portal"). Checkout : http://www.sma.de/en/products/monitoring-control.htmlThe datalogger I personaly like to work with is that of solarlog because you may use it with any type of inverter, regardless of the brand. See http://www.solar-log.com/en/home.htmlThe information sent to client might also be in an excel file or coded to UTF-8 (I personally don't know what that looks like) or some other code and might display info such as : ID - Name of installation, Monthly Energy [kWh] produced in May, Monthly Energy [kWh/kWp] for May, Yearly Energy produced to date [kWh] 2014, Yearly Energy [kWh/kWp] 2014. In essence, such production information exists and may be used. Indeed, a datalogger is quite cheap (400-500usd max!) and rather than developing a brand new datalogger I'd recommend checking these out first (see above) to see if we couldn't actually use these. What would we use these dataloggers for ? I believe that with the information retrieved from each datalogger, we could ask any PV houselhold owner to simply have this information sent to us (ie : "us", being the solarcoin foundation) and we in turn, would manage the solarcoins for the client. All a PV owner would have to do is register his solar PV info into the registration program, and let his datalogger send us his production info so that we know exactly when his solar installation has achieved 1MWh, at which point we would credit his wallet. The solarcoin foundation would manage his solarcoins until the day when this PV owner actually wants to redeem his coins (by which time, I'm sure he will have figured out how to manage a cryptocurrency wallet). Now, I'm sure, there's a bigload of coding in order to setup such an interface between the datalogger and the plateform/interent site in order to retrieve this information (especially that each datalogger might have its own coding!), but I believe whomever does come with such an interface will make it (very) easy for Mr. Anybody to register his solar application through the SolarCoin Generator Registration Program. Looking forward to meeting you all and the development team, sunnyboy Hi sunnyboy, Welcome to the Solarcoin forum here on bitcointalk. Based on our discussions together I am personally excited that we have a new member with a deep knowledge of the solar industry as well as the people behind it! With your contacts and influence in the Solar industry as well as your belief in the Solarcoin project we can make great strides towards realizing our ultimate goals and make SLR a truly viable currency! My advice is adopt DPOS technology. Use the technology to create value around a decentralized asset exchange backed by Solarcoins. |
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I'll go ahead and predict that within a few months some "phantom" delegates will get voted in at 100% pay. Either controlled by the devs or by someone attempting to tax the blockchain without actually working for it.
This is interesting. Would that be possible? Are there any extraordinarily large holders who could have the voting power to do that? Maybe only due to voter apathy? So the answer in my opinion is to use a software agent or slates as has been discussed. At some point maybe require users to vote for delegates before they can make their first trade with a recommendation in the tool tip to vote for delegates who are critical to Bitshares. You can list the developers but there should be other people listed as well who aren't associated with Invictus. You could list "Team Invictus" so people know they are part of a package but there should be other teams too. |
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This thread is ridiculous. Under the proposed default dev pay positions voters can vote them out with a click. Hardly greedy to put your salary in the hands of the users of your product.
The proposed change just allows the devs to stay focused on dev work instead of having to campaign to be elected.
Not very democratic to programmatically elect yourself as delegate. Its better to go with the will of the community of voters. As you would expect I'm against the proposal. |
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All people need is an OS device, an iPad, or even a crappy older itouch should run the app. So people should take that into consideration and IF they have invested a lot then they can buy a cheap apple device, even a 2nd gen I touch might run the apps?, less than $100. Plus a few months isnt much of you compare with the three years of airdrops.
Well this is not exact. It depends of the last supported iOS version of your Apple device. See here : http://en.wikipedia.org/wiki/History_of_iOS#Current_versionsI've got the first iPad and the last supported version is 5.1.1 from May 7, 2012. Nothing can be installed on it any more, not even the updates from the apps that where working before. What is the lowest compatible iOS version that GEMS support ? Hence the questions mark. But the point is worth making as many Android phone users have an OS device. Why not just make a web app? |
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geez look at that BTC market. I really wish I had more money to buy BTC to use to buy SLR. Now's the time!
I'm surprised BTC went down recently. With the announcement that PayPal will start accepting BTC, I thought it would go up. Weird. At least the good thing is, SLR is going up so we're not losing any value relative to fiat. If I had extra fiat on hand, I'd be scooping up BTC at sub-$400 prices and converting it into solid altcoins like SLR. Remember all those stolen Bitcoins from MtGox? |
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Of course he's trying to pump up his 30,000 BTC investment, he lost $5mill FIAT on it since July!  I believe in Bitcoin, I'm just trying to figure out why it's declined from $650 in July to $470 now, with mostly positive news, investors and entrepeneurs alike trying to jump in, and increasing adoption. Something's holding it back besides the proposed NY Bit license regulation, I just have no idea what it is.  A lot of Bitcoins are concentrated in the hands of miners, mining companies, mining pools, and it's increasingly a centralized situation. This is an example why Proof of Stake is superior because if it's properly distributed it's not going to be mined which means no inflation to dilute the price. I would suggest you head out of Proof of Work if you don't like volatility and head into something else. |
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http://bitcoinpricelive.com/bitcoin-etf-5-reasons-the-winklevoss-bitcoin-etf-will-send-bitcoin-to-10000/The Winklevoss Bitcoin ETF is set to go online at the end of 2014. You might remember the Winklevoss twin brothers from the movie The Social Network where they sued Mark Zuckerburg and Facebook to win 50 million dollars. Since then the twins have moved on to start a Bitcoin ETF named the Winklevoss Bitcoin Trust. Once it begins trading, expect the price of Bitcoin to soar to over $10,000. Here’s 5 reasons why: 1. Wall Street Money Will Flow Into The Bitcoin ETF. As soon as a person can go to their brokerage account, type in the symbol COIN and buy now, it will put upwards pressure on the price of Bitcoin. There are many wealthy investors who would like to get into Bitcoin but they feel uncomfortable that Bitcoin is not in their name, that they need to backup a wallet, and they need to keep their computer virus free. The Winklevoss ETF will allow the average wealthy investor who is a not technology expert to put large amounts of money into Bitcoin. 2. The Winklevoss ETF will be promoted as currency diversification on Wall Street Bitcoin is already being regarded by Wall Street as a new currency. The US dollar, Euro, and Yen have been undermined as a store of value. It will be advertised to clients as a high risk, high reward alternative currency. 3. Trading of the ETF will only be open during stock market hours The COIN ETF can only be bought or sold during the NASDAQ market is open in the United States. This means that the Wall Street investor will only be able to access Bitcoin trading from 9:30 AM EST to 4:30 PM. During this time period, there will be increased volume and more news released about Bitcoin. In the downtime there will be massive speculation about where the Bitcoin ETF will open and for what price. There will be discrepancies of the price between Bitcoin exchanges and the Bitcoin ETF. 4. Liquidity in Bitcoin markets will increase dramatically. There will be many more Bitcoins trading hands on a daily basis as the Bitcoin ETF will be required to allow shorting as well. This means that investors can bet that Bitcoin will go down as well. When the Bitcoin ETF opens, it will be much easier for Bitcoin Bears to bet that the price will go down. However, this is good for the price of Bitcoin as it will allow investors to bet both sides of the Bitcoin, increasing Bitcoin transactions 5. The Bitcoin ETF is required to buy additional Bitcoins Details of the Winklevoss ETF reveal that as more money flows into their trust, they are required to buy Bitcoins. Since the supply of Bitcoins is limited, this means they will have to buy from exchanges or over the counter purchases. Recently, the Winklevoss Twins announced they would pay in Bitcoin to go to space via Richard Branson’s Virgin Galatic. Expect the price of Bitcoin to go space as well! Do you have any market research or demographic stats to back up anything you say above? What proof do you have that wealthy investors are interested? |
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mining in secret = orphaned blocks = NO longer chain, I'm just sayin  Are you denying the possibility of a 51% attack? That equation is not true. When someone mines a longer chain in secret and publishes it later the until then longest public chain including all its block will get orphaned because it is not the longest chain anymore. But that all was not the point of the OP... Let's also not forget that ASICs can easily be taxed by governments which guarantees law enforcement gets their cut of the mining profits. Special purpose chips can only do one thing so taxing it doesn't disrupt the economy any more than taxing tobacco. CPU mining was general purpose so politicians couldn't put a tax on Intel or AMD chips. How can ASICs easily be taxed? I think it would actually be quite difficult without raising taxes on computer equipment. The only way that I can see ASICs being taxed is via sales tax, which is generally not outrageous. ASICs aren't general purpose computer equipment. It's highly specialized single purpose equipment. The only thing a Bitcoin ASIC can be used for is to mine Bitcoins. So who would complain if it were taxed? And how will you mine if your government puts a 10% tax? You'll pay the sales tax. |
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It will go down. I do not think it will be tradeable this time next year.
Said the 8 post and 2 days old account and then vanished in to the mist!! I will still be active next year, but BTSX will not. If you all really think this then buy BitUSD on the Bitshares X client. If Bitshares does crash you end up with more BTSX. If it ever rises then you could double your profit. But if you think BTSX is completely useless then yeah, stay in Bitcoin. |
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My interest in the internet is nothing more than testing my abilities as a penetration tester, with little or no knowledge of the victim. If you think you have thought of everything, I will create that which you never thought of.. just to prove it can be done.
I read how bitcoin is unstoppable.. wrong.
Everything required to intercept bitcoin payments is in place today, and almost worldwide. You can laugh now, but by the time this short post is finished you will realise the truth.. that bitcoin WILL fail, and not of it's own accord, but due to the fact that it is indeed a threat to any and all established currencies of the world, and hence a threat to those countries security.
Why better testers cant see this is beyond me.
First, create laws requiring interception of all traffic at the ISP level.
Second, lets give it a fictional name, like 'No Shitty Attacks' or NSA for short.
Place 'NSA Killbox' between ISP and the world. Switch to record mode.
This means A box between YOUR isp, and the rest of the world. Nothing you can do about this.
Linux users probably think they are cool and can bypass this.. no they cant. They think they can use TOR or some other ip spoofing method.. THIS is an illusion. Yeah it hides your ip from other end users, but YOUR isp has YOUR ip, period. Notice we are all given static ip's now? These are postcoded. Geo tagging is applied to ALL packets leaving YOUR pc at the ISP level, they can now decide where to send ALL packets using strict filtering rules.
When it's decided bitcoin is a threat to the security of any MAJOR country, they can force the isp to re-route p2p traffic to a dns dead end. At this point they can be clear and say, you want passed here, your paying for it.. This is how to tax bitcoin.
Or I could just look at the block chain for address's, write any address found there into my fresh wallet, and take all, using that dns redirect..
To all dodjy faucet owners.. lets see what your worth now that this is in print, it was implemented 4 years ago here where I live.. notice your new security? Made in Scotland.. go on, ask Richard.. B
All they would have to do is tax ASICs. |
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there has been a fuss around the fact that many think its not him writing the "im not dorian nakamoto"
any news on that ?
also, do you think nsa has the ability to know who is satoshi nakamoto if nsa really wanted to know it ?
If the NSA did know then they would just take his Bitcoins without him knowing how they did it. Because he has so many Bitcoins he has every reason not to want to be known. |
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mining in secret = orphaned blocks = NO longer chain, I'm just sayin Are you denying the possibility of a 51% attack? That equation is not true. When someone mines a longer chain in secret and publishes it later the until then longest public chain including all its block will get orphaned because it is not the longest chain anymore. But that all was not the point of the OP... Let's also not forget that ASICs can easily be taxed by governments which guarantees law enforcement gets their cut of the mining profits. Special purpose chips can only do one thing so taxing it doesn't disrupt the economy any more than taxing tobacco. CPU mining was general purpose so politicians couldn't put a tax on Intel or AMD chips. |
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