Don't you just love ...
... Internet stalkers? Ted Nelson is a fuckwit of the first water.
Not that bitcoin is worth anything, mind ... I certainly don't trust it for anything.
Sociologist, philosopher, computer industry pioneer and inventor of the term “hypertext” Ted Nelson is claiming that he knows the identity of Bitcoin inventor “Satoshi Nakamoto”. In a rambling – and, let's face it, odd – 12-minute post on YouTube, Nelson spins out the suspense, throws in a dialogue with himself as Sherlock …
The mechanism that Tedd Nelson had as to how material on the net should be linked may not have materialized but that doesn't mean it is not a good idea. The same idea was behind namespaces in XML which has had some traction but has gone largely ignored as people have used XML in ways divergent from trying to solve the problem of disparate and redundant formats.
Since I'm not sure how you define crackpot I can't speak to that "ad hominem" attack.
Thanks for that link. I found the article well put together. I love stories about 'rogue' mathematicians who come out with a genius idea that takes everyone else by surprise. I'm glad there are people like that out there. It reminds me of the Reinassance era when one person could discover something whereas now it feels a rarity. The Russian genius Perelman is also a fine example.
Bitcoin is far too practical and useful in the real world, to have ever come from the mind of a pure mathematician. The mathematics of the cryptography behind it is trivial, in comparison to the things their minds can grapple with. And Byzantine Generals is game theory, not number theory which is Mochizuki's field. Sorry Nelson, you're way off.
Bitcoin is unstable and wholly impractical as a currency, it is only getting press right now because people think they can make some money speculating on it. It fits perfectly well that a mathematician may have developed something that only works in a highly developed set of circumstances that he assumes will never change.
Paper Dollar is unstable and wholly impractical as a currency, it is only getting press right now because people think they can accumulate riches monetizing debt denominated in it. It fits perfectly well that a monetarist, a Keynesian and a string of clueless White House dwellers may have developed something that only works in a highly developed set of circumstances that they assume will never change.
D.A.M: "Paper Dollar is unstable and wholly impractical as a currency..."
I agree with your general perspective of how the government thinks currency and many other things *should* work, but I think there is a substantial amount of people that feel any physical representation of currency is more practical than a uint64_t or whatever bitcoin is represented as, in whatever database. I know the current economy might prove otherwise about physical currency, but look at the current economy :-/. I thought the dotcom bubble proved something, maybe not.
The evolution of virtual currency should have to wait, at least until we've sorted out the mess we've made with the physical one, else we are just adding another problem to the ever growing mess. I'm not against the existence of virtual currency, I'm just currently against any further development of it. I hope someday soon my mind will be changed, but things aren't looking up.
If you think paper money is "physical", and that Bitcoin is not "paper money", you miss the relation.
Both had around the same strengths and weaknesses, just to a different value. Give and take, usually means we do not get a perfect result, just move the "weakness" of the system around.
"Both had around the same strengths and weaknesses, just to a different value. Give and take, usually means we do not get a perfect result, just move the "weakness" of the system around."
'Fiat' money does not have the weakness that a bunch of internet crazies hold the lions share (~80%) of the currency in long-term dormant accounts, nor does it have a built in distribution limit. BTC has a lot of weaknesses and will never make a useful currency.
If we'll wait for the current economical trouble causes to be fixed, we'll never get any fixes. Bitcoin isn't a currency like the Dollar, but an asset like Gold. That is: you mine it, you hoard it, you speculate with it, you hope that one day it will save your ass, and pray that the day when gold drops in price to match lead doesn't ever come.
Presumably if this is correct the US Justice Department will already be working on an extradition request. Expect charges of money laundering, maybe criminal conspiracy charges etc. Since he's not as important as say HSBC then it really wouldn't surprise me.
Also waiting for the usual nutcases that pass for elected officials there to start mouthing off about how this is a threat to society and must be stopped.
Nelson's spaculation seems superficial and totally wrong to me.
Mochizuki is 1st and foremost a matematician. His whole life work is about pure formalistic proofs of math theorems.
Bit coin inventor is mostly a computer scientist / programmer. Bitcoin is code.
Neither the math behnd bitcoin, not the code is difficult to understand. It is way below the complexity of what Mochizuki has been working on for years. It is not what motivates or interests him.
But Nelson's video is entertaining in a way. Perhaps Nelson should be an actor. He definitely seems to be enjoying it and I have to admit I enjoyed some of the drama.
Whuh? Who is this guy and what does he have to do with this story? Is he just some random person who approached you out of the blue to tell you what he thinks of Ted Nelson, or is he some expert in the field (and if so, what field?) who you approached for a comment (and if so, why)? Or what?
ProShares, the issuer of exchange-traded funds with around $65 billion under management, has launched the first short Bitcoin exchange-traded product in the US, offering a way for investors to make money from the ongoing cryptocurrency meltdown.
Dubbed the ProShares Short Bitcoin Strategy, the ETF is set to launch on the New York Stock Exchange under the ticker BITI. Bitcoin declined to $17,601.58 over the weekend, according to Coin Metrics. It has lost 70 percent of its value since last November's highs.
Speaking to the Financial Times, Nate Geraci, president of wealth management firm The ETF Store, said there would be "a rather robust market" for the short funds.
The cryptocurrency world is experiencing what can only be described as a meltdown, with prices plummeting today to lows not seen since the end of 2020.
The plunge is likely due to several factors including general economic uncertainty as seen in the stock market, inflation, bearish conditions and loss of confidence in crypto-coins, and scared money and bots being spooked by whales selling.
It definitely did not help that crypto-lending biz Celsius Network put a freeze on withdrawals, swaps, and transfers Sunday night. Soon after Bitcoin tumbled 10 percent, Ethereum lost 19 percent of its value, and fan-favorite Dogecoin shed nearly 15 percent of its value, or about $0.01, since then.
Comment Microsoft co-founder Bill Gates has declared that "expensive digital images of monkeys are going to improve the world immensely."
He was joking, obviously, though considering Gates's supposed connection to microchips in vaccines, one can never be too careful. What he's talking about are non-fungible tokens (NFTs), which came up at a TechCrunch event in Berkeley, California, on Tuesday. Specifically the Bored Ape Yacht Club variety.
You know those kids' books where the picture is divided into three (head, body, legs) so you can turn different sets of pages to get a different image? That's what the Bored Ape Yacht Club is for those willingly parted from large amounts of money for the right to stand next to a picture of a cartoon chimp.
A crew using malware that performs cryptomining and clipboard-hacking operations have made off with at least $1.7 million in stolen cryptocurrency.
The malware, dubbed Trojan.Clipminer, leverages the compute power of compromised systems to mine for cryptocurrency as well as identify crypto-wallet addresses in clipboard text and replace it to redirect transactions, according to researchers with Symantec's Threat Intelligence Team.
The first samples of the Windows malware appeared in January 2021 and began to accelerate in their spread the following month, the Symantec researchers wrote in a blog post this week. They also observed that there are several design similarities between Clipminer and KryptoCibule – another cryptomining trojan that, a few months before Clipminer hit the scene, was detected and written about by ESET analysts.
China has become the world’s second most prolific miner of bitcoin – or maybe it always was – according to new data from the Cambridge Centre for Alternative Finance (CCAF).
The Centre on Tuesday announced its latest hashrate data analysing activity from September 2021 to January 2022 and found the USA is home to 37.84 percent of mining capacity, ahead of China at 21.11 percent, Kazakhstan ‘s 13.22 percent and Canada’s 6.48 percent.
US prosecutors have accused an American citizen of illegally funneling more than $10 million in Bitcoin into an economically sanctioned country.
It's said the resulting criminal charges of sanctions busting through the use of cryptocurrency are the first of their kind to be brought in the US.
Under the United States' International Emergency Economic Powers Act (IEEA), it is illegal for a citizen or institution within the US to transfer funds, directly or indirectly, to a sanctioned country, such as Iran, Cuba, North Korea, or Russia. If there is evidence the IEEA was willfully violated, a criminal case should follow. If an individual or financial exchange was unwittingly involved in evading sanctions, they may be subject to civil action.
Big names in Bitcoin have defended cryptocurrency mining, issuing a jointly signed letter hitting back at US lawmakers who last month urged a government watchdog to probe the practice.
Twitter founder and Bitcoin champion Jack Dorsey, the CEO of Bitcoin-collecting MicroStrategy Michael Saylor, and others on Monday signed the letter [PDF] that is a point-by-point rebuttal to a memo [PDF] sent last month to America's Environmental Protection Agency (EPA) by Representative Jared Huffman (D-CA) and a couple dozen other Democrats.
In that first letter, Huffman and pals asked the EPA to probe proof-of-work cryptocurrency mining facilities to ensure they're following US laws such as the Clean Air Act and Clean Water Act, and not having an outsized effect on climate change. Proof-of-work cryptocurrencies include Bitcoin, Ethereum, and Monero. Ethereum, for one, is planning to move to fully proof-of-stake approach, which is more energy efficient.
The wiki community held a vote as to whether the Wikimedia Foundation should continue to accept cryptocurrency donations, the result of which was a resounding "no".
The proposal was made by Wikipedia administrator, checkuser and oversighter GorillaWarfare based on three points: it could be seen as an endorsement of cryptocurrency by the organization; the tech is not environmentally sustainable; and, last of all, accepting crypto could damage the reputation of the foundation.
The Wikimedia Foundation currently accepts donations in Bitcoin, Bitcoin Cash and Ethereum, as well as traditional payment types. According to the community, crypto is one of the foundation's smallest revenue channels, making up a mere .08 percent of 2021 revenue, equating to $130,100. Total revenue for 2021 was around $162 million.
Intel has disclosed more details of its Blockscale ASIC, the firm's entry into the realm of cryptocurrency mining with a dedicated chip built to provide users with energy-efficient hashing for proof-of-work consensus networks.
As previously revealed, the chip now identified as the Intel Blockscale ASIC is designed to provide hardware acceleration for SHA-256 (Secure Hash Algorithm-256) processing for blockchain proof-of-work applications. It will start shipping in the third quarter of 2022.
Intel has now claimed that its Blockscale ASIC has a hash rate of up to 580GHps, or giga hashes per second, and can support up to 256 integrated circuits per chain. The latter means that a customer could theoretically build and operate a mining system comprising 256 of the Blockscale chips, which would be capable of over 148THps, or tera hashes per second.
Europe's lawmakers this week moved ahead with their proposed cryptocurrency regulations, having ditched a rule that might have banned financial services from dealing in Bitcoin and Ethereum.
The European Union is considering ways to regulate digital coins, particularly to stamp out money laundering, and as such in 2020 drew up a draft framework dubbed the Markets in Crypto Assets (MiCA) to achieve this. During the development of this red tape, an amendment was proposed that, depending on its interpretation, could have made it illegal for app and web services to handle transactions involving proof-of-work coins, such as Bitcoin and Ethereum.
Proof-of-work algorithms underpin these cryptocurrencies, how they are mined, and how transactions are confirmed by the network. These algorithms have been criticized for being computationally intensive and consuming large amounts of energy, prompting some lawmakers to propose restrictions. Under the European Green Deal, member states are trying to slash greenhouse gas emissions, and are heavily scrutinizing activities like running proof-of-work algorithms.
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