Blockchain and blockchain alone.

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Blockchain and blockchain alone.

Postby chrisco » 02 Nov 2015, 19:23

This is a thread to talk blockchain.

For those who need a primer:

http://www.economist.com/news/briefing/ ... lockchains

http://www.ft.com/intl/cms/s/2/eb1f8256 ... z3qNgcBPGE

I'm very flyered up about commercial acceptance of this, and look forward to discussing it with the board.
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Re: Blockchain and blockchain alone.

Postby Frank the Tank » 02 Nov 2015, 19:37

'Sco, you know far more about data transmission than I do. Aren't 100+GB blockchains going to tax bandwidth and, maybe more importantly, power supplies more than we're ready to handle? Thank you. I'll hang up and listen.
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Re: Blockchain and blockchain alone.

Postby ctz31 » 03 Nov 2015, 08:46

I heard Blake and Miranda split over a block chain. Hell of a thing.
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Re: Blockchain and blockchain alone.

Postby the cheese » 03 Nov 2015, 08:56

That is why politicians seeking to clean up the Property Institute in Honduras have asked Factom, an American startup, to provide a prototype of a blockchain-based land registry. Interest in the idea has also been expressed in Greece, which has no proper land registry and where only 7% of the territory is adequately mapped.


Whatever Bitcoin or blockchain is, this is ridiculous.

Fifteen years ago or whenever the EU wrote:Yes, let's let a third world country into the Fort. Brilliant. That'll totally work.


They practically invented maps, and they don't have property records or maps of 93% of the country.
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Re: Blockchain and blockchain alone.

Postby chrisco » 03 Nov 2015, 10:23

Frank the Tank wrote:'Sco, you know far more about data transmission than I do. Aren't 100+GB blockchains going to tax bandwidth and, maybe more importantly, power supplies more than we're ready to handle? Thank you. I'll hang up and listen.


Hi Frank.

I'm still getting into the plumbing on this blockchain thing, but here's what I can tell...

A. Only a relatively small number of computers are hosting the full blockchain. These are nodes and/or miners (?). Nodes periodically synch with each other to make sure that everyone is carrying the most up to date version of the blockchain they can. When they synch, they are only adding missing pieces not swapping full files. From a bandwidth perspective, this should be pretty small.

B. Power appears to be the issue. The crypto part of this requires that you solve a hash to add a block to the chain. There's a financial reward (i.e. a bitcoin) for solving the hash, but the process of solving requires computing power which requires electricity. There are proposed alternate methods which could be more efficient than what bitcoin is using now.
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Re: Blockchain and blockchain alone.

Postby Frank the Tank » 03 Nov 2015, 11:27

chrisco wrote:B. Power appears to be the issue. The crypto part of this requires that you solve a hash to add a block to the chain. There's a financial reward (i.e. a bitcoin) for solving the hash, but the process of solving requires computing power which requires electricity. There are proposed alternate methods which could be more efficient than what bitcoin is using now.


But, and here's the rub, isn't efficiency the enemy of high-level cryptography? If we start keeping all kinds of records on the blockchain, and someone figures out how to do the equivalent of a 51% attack with only a few computers, aren't we all fucked?
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Re: Blockchain and blockchain alone.

Postby chrisco » 03 Nov 2015, 11:34

Frank the Tank wrote:
chrisco wrote:B. Power appears to be the issue. The crypto part of this requires that you solve a hash to add a block to the chain. There's a financial reward (i.e. a bitcoin) for solving the hash, but the process of solving requires computing power which requires electricity. There are proposed alternate methods which could be more efficient than what bitcoin is using now.


But, and here's the rub, isn't efficiency the enemy of high-level cryptography? If we start keeping all kinds of records on the blockchain, and someone figures out how to do the equivalent of a 51% attack with only a few computers, aren't we all fucked?


FTT - I'll show you too the Proof or Work vs. Proof of Stake debate and hang up and listen: https://www.cryptocoinsnews.com/bitcoin ... f-of-work/
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Re: Blockchain and blockchain alone.

Postby Mario Speedwagon » 03 Nov 2015, 15:24

Fifteen years ago or whenever the EU wrote:Yes, let's let a third world country into the Fort. Brilliant. That'll totally work.


Thanks, Goldman Sachs!
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Re: Blockchain and blockchain alone.

Postby chrisco » 03 Dec 2015, 09:24

Mario Speedwagon wrote:
Fifteen years ago or whenever the EU wrote:Yes, let's let a third world country into the Fort. Brilliant. That'll totally work.


Thanks, Goldman Sachs!


Goldman Sachs wants YOU! on the blockchain bandwagon.

http://www.businessinsider.com/goldman- ... r%20Select
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Re: Blockchain and blockchain alone.

Postby chrisco » 09 Dec 2015, 11:16

Wired thinks they found the bitcoin creator.


http://www.wired.com/2015/12/bitcoins-c ... an-genius/
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Re: Blockchain and blockchain alone.

Postby Mario Speedwagon » 09 Dec 2015, 14:33

chrisco wrote:Wired thinks they found the bitcoin creator.


http://www.wired.com/2015/12/bitcoins-c ... an-genius/


Australian genius. There's something you don't hear every day.
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Re: Blockchain and blockchain alone.

Postby Frank the Tank » 23 May 2016, 21:02

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Re: Blockchain and blockchain alone.

Postby ctz31 » 24 May 2016, 08:25

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Re: Blockchain and blockchain alone.

Postby ctz31 » 23 Aug 2016, 15:08

Double post. I thought there was a bitcoin thread, but maybe i was thinking of this ridiculous thing.

Chrisco, thoughts?

http://www.buffalonews.com/city-region/police-courts/former-ub-student-admits-using-bitcoins-while-dealing-in-drugs-20160823?utm_campaign=puma&utm_medium=social&utm_source=Facebook#link_time=1471981350

Aren't you also from queens. Any chance you know this gentleman? Perhaps you are "involved" in his business dealings?
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Re: Blockchain and blockchain alone.

Postby Dr Jeckyll » 15 Mar 2017, 18:55

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