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September 22, 2015, 05:44:05 AM |
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21 unveiled it's $400 standalone miner based on a Raspberry Pi.
21 is promoting paying for content directly as opposed to ad-supported content. That is roughly analogous to broadcast TV vs. cable. It's a different business model, but one that can only be done with microtransactions. To continue the metaphor, it would be like paying for cable every time you changed the channel instead of a monthly bill. Currently, that cost is supported primarily by the block subsidy, and runs at about 65 kWh per transaction. (300 MW mining network, 1.27 transactions per second.) That's about $4 per transaction. Also, at the current 7 TPS (or less) transaction limit, There couldn't possibly be more than a thousand users of this premium internet before it bogs down and takes our entire network with it.
Weirdly, 21 publicly supports BIP100, the proposal to increase blocksize and therefor transaction capacity only when a majority of mining votes to do so. Why? The only logical explanation is that they expect to dominate mining and vote to increase blocksize FASTER than BIP101 would automatically increase it!
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