Cryptocurrency & Blockchain



An in-depth look at Cryptocurrency & Blockchain, what they are, how they differ from existing methods, and what the advocates and critics have to say about them. Visit our Website: http://www.isaacarthur.net Join the Facebook Group: https://www.facebook.com/groups/1583992725237264/ Support the Channel on Patreon: https://www.patreon.com/IsaacArthur or with Bitcoin: https://www.coinbase.com/IsaacArthur Visit the sub-reddit: https://www.reddit.com/r/IsaacArthur/ Listen or Download the audio of this episode from Soundcloud: https://soundcloud.com/isaac-arthur-148927746/cryptocurrency Cover Art by Jakub Grygier: https://www.artstation.com/artist/jakub_grygier Further Reading: Original Paper on bitcoin: Satoshi Nakamoto, "Bitcoin: A Peer-to-Peer Electronic Cash System" https://bitcoin.org/bitcoin.pdf Charles Stross Blog Entry "Why I want Bitcoin to die in a fire" http://www.antipope.org/charlie/blog-static/2013/12/why-i-want-bitcoin-to-die-in-a.html Daneil Jeffries rebuttal, "Why Charles Stross Doesn’t Know a Thing about Bitcoin": https://bitcoinmagazine.com/articles/charles-stross-doesnt-know-thing-bitcoin-1389147532 Abrahim Ladha’s “Hypothetical Problems concerning the Theory of Relativity on Cryptographic Currency Implementations”: https://arxiv.org/abs/1604.04265 Paul Krugman's paper "Theory of Interstellar Trade": https://www.princeton.edu/~pkrugman/interstellar.pdf

Comments

  1. Frank DOES smell fishy!

    Arthur, not you too, please...


    ;D
  2. Steem.io is the future of social media....it is using the blockchain to back the platform. All content posted is embedded into the blockchain and is uncensorable and can not be taken down by any government.
  3. that was amazingly good for a show that likes to talk about building domes around galaxies.
  4. Issac Arthur for King of earth 1
  5. Da Joos
  6. a cryptocurrency called dash has implemented voting type systems, in order to make development dissensions
    its quite interesting.
  7. Blockchains wouldn't be good on voting.
    Simply because there are better options.
    The state could simply give out Private-Keys.
    One Key per person.
    Not fakeable.
  8. ( Worlds First Digital Currency Made Exclusively For The Advertising Industry )

    (https://ads.cash/prelaunch/2.html?id=rushmaster&link=1)
  9. On the criticisms, I have comments that come up to my mind:

    1- Stealing computing power or electricity isn't as much of a deal as devaluing commodity or fiat currency, because in old money, the money itself is being devaluedby bad behaviour and in cryptocurrency it's just like plain old theft or hacking which can be easily tracked or accounted and doesn't properly affect the value of the currency, our issue at hand.

    2-Although it's true that a lot of computer power is being wasted for book-keeping, this is promoting the development of better computers and algorithms. Computers made for cryptocurrency at the start will not stay as such for long, in particular as the system requires faster upgrading. Most actually useful computer applications don't require large amounts of power, so "outdated" computers from cryptocurrency can be passed down to these jobs and still be more than enough.

    2.5- Common people have their computers idle for most of the day. And tha's lots of computers. If they join on collective mining or efforts like the @home projects, we can optimize the global computing power and energy consumption greatly.

    3 and 4- That's actually good! It's harder to defeat bandits, but's just as always has been in nature and otherwise. The predator runs fast enough to catch the prey, the prey then runs faster. There's nothing much that can or should be done about it. If it isn't cryptocurrency lending the edge to criminals, it would be something else, so one might as well be relieved to be a shortcoming one can be aware of. There's also the issue taxes or some law banning the possession something, somewhere which always ridiculous and we, as a species, should have grown up away from those laws. These create criminals which wouldn't be there otherwise. Eg. (although somewhat simplistic) when you ban firearms, people become afraid of their safety, thus they demand firearms. Many other social issues are variants of this fact. You can't take away from people without giving them a comparable and tangible alternative... that is unless you want them to create and join black markets.
  10. dont save money,JUST MAKE MORE
    https://www.genesis-mining.com/a/345770
  11. Vinge did talk about interstellar economics and trading in his Zones of Thought series, of which I don't quite remember how accurate, but remember finding interesting. They're a great read for any sci fi fan.
  12. Can you post a direct source on the assertion that the miner who does the most work / finishes the calculations first gets all the payout? To my knowledge rewards are split between all miners based on how much computing power you contributed (or how many hash calculations rather).
  13. Your cats meowing make me think my cats are trying to get my attention. :-)
  14. I've been making my way through all of your videos from start to finish and I have to say,? I wasn't looking forward to Cryptocurency...
    However, you made the topic interesting and relatively easy to digest!
  15. Bitcoin and gold standard is what we need
  16. Dont be afraid of the btc price fall...Purchase ad packs with your btc which would give you btc in return...please do your due diligence...https://www.adscrypto.com/ref/3160
  17. Hmm, interesting problem there at the end.

    The first solution that pops to mind would be scale based blockchains. Planets, and individual facilities would have their own, while star systems would have a larger and slower one. It would require new safety protocols to prevent double spends due to the lag in information transition. These would have to take into account time stamps of transmission after the transaction has left a node in the local area and transmitted to other nodes in the solar system.

    The difficulty and power consumption of mining would likely scale up with the increased time. Any increase in the scale of the civilisation would add another layer of blockchain to interact with.
  18. I think another problem is as follows:

    Printing 10 $100 bills, about the value of a bitcoin, costs a $1.54.

    Mining 1 BTC costs hundreds of dollars.
  19. I don't think interstellar bank accounts make sense in the first place.
    You cannot connect bank accounts of two economies in a meaningful way if those basically have nothing to do with each other.
    That would be like making a huge amount of money in Skyrim and expecting to be able to spend it in GTA V.
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Additional Information:

Visibility: 31170

Duration: 30m 17s

Rating: 1102