745 karma · joined January 12, 2014
http://www.newegg.com/Product/ProductList.aspx?Submit=ENE&De...
[1] http://www.levyinstitute.org/pubs/wp_589.pdf [2] http://gabriel-zucman.eu/files/SaezZucman2014Slides.pdf
It gets even worse when the subject doesn't actually know anything useful. Waterboard most people and they will confess to anything they think will make it stop.
Increasing generation capacity to meet demand spikes is expensive, and requires having large, expensive power stations waiting at the ready, just costing money.
Presumably the major cause of data degradation in archival time-scales is bit-rot from either component failure or media corruption. What are the sources of bit-rot and component failure? Can they be accelerated to provide a rough benchmark for component failure over longer time-scales?
https://play.google.com/store/apps/details?id=com.paramount....
The fact remains that Ultrasound is not an efficient mode of energy transmission [1]. Wireless induction is almost certainly more efficient over the same distances. And ultrasound is a potential nuisance and hazard to wildlife and pets in way EM broadcasts simply aren't.
But where Bitcoin falls down is in the long term model of currencies. Currencies should only be a medium of exchange, not a long term investment vehicle. We want people to spend or invest money in useful things rather than hoard money. Bitcoins deflationary model encourages hoarding, which in turn diminishes the amount of currency in active circulation, resulting in a sub-optimal medium of exchange.
A directed, concentrated, high decibel volume, in the 40-60kHz range is not the sort of thing found naturally 'all of the time.' As other posters have mentioned, transmitting energy via sound is likely impossible do both safely and at useful amperage. Ultrasound is not safe at high energies even if you can't hear it.
[1] patentimages.storage.googleapis.com/pdfs/US20120299541.pdf
As much as the project seems to have good intentions, insisting that It's BitCoin, BitCoin is different doesn't mean your product is actually exempt from rules and law. Or that Bitcoin is all that different.
There is no reason someone couldn't build a similar project using traditional currency. But then they would run afoul of the many laws designed to protect depositors, investors, and the financial system writ-large. As someone remarks in TFA, holding the amount of currency on ones balance sheets this project would, if successful, is a terrible idea. It's ripe for fraud and abuse. There is a reason services like Gittip assist in transferring fund, and act as the debiter and depositor.
This whole thing is emblematic of the problems with Bitcoin culture, which seems to think it doesn't have to follow any of the rules. Sorry lads, if Bitcoin is currency, you have to behave like banks and investment firms if you are going to act like banks and investment firms.
For instance, I'm working on a web app to visualize a particular subset of twitter activity. Scaling the database to cope with performance demands may prove challenging on free project tiers.