1,412 karma · joined February 9, 2012
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Pretty specific. Good article.
This assumes enough hashpower where people can still transact on the legacy chain, and with some sort of replay protection to where exchanges can safely actually convert the funds to have two separate tradable tokens. Right now that doesn't exist, so exchanges won't touch it. This is a huge reason why Bitcoin Unlimited was a non-starter.
There are enough side channels leaked trying to proxy an Internet connection through an encrypted tunnel, this is picked up on through Machine Learning or otherwise and it pretty effectively blocks many forms of escape. Read the parent article, let it soak in, and come back.
And from TFA, it looks like whatever China can't block through technology, they are blocking through politics.
Companies who are successful have spent way more time in ensuring that their software works reliably with their debuggers, across a wide range of chips and platforms. Sure it's expensive, but everything just works.
By 'stealing' this software in this way, cloning firms are dragging the entire industry down with the clones that don't work 100%, or the IoT devices that get infected due to lack of any security. I'm really hoping some certification body like UL, or major distributor like Amazon or Alibaba, steps in and starts ensuring at least a basic level of quality for hardware and software.
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Happy 4th of July!!!
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To incentivize renewable energy production, "Renewable Energy Credits" are used for the bookkeeping of what kinds of energy is being generated, and are created when energy is produced by a renewable provider (handwaving a bit here...)
Consumers and businesses can have their electric plan provider purchase these credits per their usage to make sure they are getting the correct portion that actually comes from a renewable source.
So the demand and pricing is adjustable determined by the pricing of the credits.
"If you elect to purchase a renewable energy product, we will ensure that the appropriate amount of renewable energy credits (RECs) is retired to authenticate the renewable energy contained in the product."
So here in TX we can actually individually vote with our wallets to make a difference in the makeup of renewable energy demands in the state. Maybe tiny steps at a time, but at least it is possible.
The current article (Nov 2016) is here: http://webcache.googleusercontent.com/search?q=cache:KOIWNI0...
But I definitely agree that it is working 'as designed' at the moment, and actually handling the situation of high demand reasonably well. And I can't wait for new technologies to become available on top of BTC for innovation at a global scale.
BTW thanks for all the work you have done with Bitcoin, I hope you have been able to stay above the fray on this issue for the most part.
Of course I support any efforts to get rid of shortcuts in the POW function ASAP, and by any means necessary. The whole reason behind a POW function is to ensure a fair competition.
Personally, I think that mining only should not be a for-profit enterprise. Only parties that have goals aligned with the long-term economic future of Bitcoin should be involved in mining, like major exchanges, merchant providers, etc. The value proposition was only ever to secure the network and get some financial help with doing so.
Otherwise, you have to have constant innovation and investment otherwise you are pointlessly fighting the difficulty level adjustment.
I agree that bigger blocks are needed to ease even non-witness/standard transaction backlogs, and to ease up on wallet and other providers that want a faster network in-place without needing updates that work in concert SegWit like the Lightning Network. The 1 MB was originally an anti-spam limit. In a dream world, we would have a dynamic anti-spam block size. But I don't see consensus happening any time soon. :(
Though I'd like to try and provide a summary for people who don't know what's going on.
Bitcoin desperately needs to scale to handle higher transaction demand. It can take multiple hours for transactions to be confirmed, and due to the demand, fees are high ($2-3 per transaction for fast confirmation.) A technical approach (SegWit) was proposed and implemented by the Bitcoin developers in order to improve transaction capacity a couple years ago. This also brings along a number of innovations which can help implement what is termed 'Layer 2' solutions to happen inside Bitcoin, instead of using an altcoin like Litecoin or Ethereum. Think of this enabling a Visa-like entity to provide instant settlement services denominated in BTC, and secured by the Bitcoin blockchain.
However, this upgrade is very contentious with the miners who are entrusted with securing the blockchain against attackers. Bitcoin mining now is a professional enterprise where major players need to be located in places with cheap ASIC production and cheap electricity to have any hope of making a profit. In some cases, they see these new layer 2 solutions as reducing their transaction fees, which are becoming a large percentage of their profits. Instead, they have been proposing just a larger base block size limit, which will solve the transaction backlog and send the fees to the miners, but then not make progress moving forward with what users and developers want, which is increased innovation. In addition, the larger block size is seen as increasing centralization of mining since only larger providers will be able to deal with the extra data rates (since there is an advantage to having quick transfers of newly created blocks when mining.)
Since Bitcoin is decentralized, anyone can run any software. There are mechanisms in place for miners to 'vote' with their hashpower/mining rate to agree on software changes, then after enough support, the mechanism activates. This is the easiest way to make sure global upgrades happen smoothly and in a coordinated fashion. However, users are becoming desperate and are looking for other ways to make these innovations happen without needing support from the miners.
Unfortunately the Internet and echo chambers have destroyed the hope of meaningful discussion about this topic. Please, HN commenters, do not bring in Reddit-level comments here... Provide sources and a balanced view, and please be respectful.
Interested in RFID? In improving inventory and replenishment processes in hospitals, labs, and clinics? In automatically tracking pallets, containers, and other assets around a facility? Come join us!
Venture Research is a leader in the RFID industry and is consistently pushing the leading edge of what is possible using RFID. We have a variety of opportunities available for both fast-paced new product design and development as well as for development on some of our long-term stable products. 17 year old small but growing company, privately held, with excellent benefits, 401K matching, paid health insurance and highly competitive salary and bonus structure.
We are hiring for the following positions:
* Embedded platforms engineer: C, Linux, Android NDK. Experience with hardware co-design, Python, QT, Django, React a plus.
* Embedded firmware engineer: microcontroller development using primarily NXP Kinetis parts.
* Senior .NET / Backend developer: C#, VB.Net, ASP.NET, MSSQL, Oracle, JavaScript and JQuery. .NET MVC a plus.
Please email resumes to hr@ventureresearch.com, or use the email in my profile. Thanks!