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Bitcoin euphoria and how it can damage volunteer distributed computing
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Richard Haselgrove Send message Joined: 4 Jul 99 Posts: 14650 Credit: 200,643,578 RAC: 874 |
And I suppose that bitcoins have no serial numbers to trace.................................In theory, the blockchain acts as a distributed serial number tracing every transaction... ...if there ever was a blockchain. And what it *doesn't* do is to tie back those transaction participants to real, live, people with social security numbers and home addresses. |
kittyman Send message Joined: 9 Jul 00 Posts: 51468 Credit: 1,018,363,574 RAC: 1,004 |
And I suppose that bitcoins have no serial numbers to trace.................................In theory, the blockchain acts as a distributed serial number tracing every transaction... And taxable income. I am sure it's appeal would diminish greatly if it couldn't be kept 'off the books'. "Freedom is just Chaos, with better lighting." Alan Dean Foster |
Keith Myers Send message Joined: 29 Apr 01 Posts: 13164 Credit: 1,160,866,277 RAC: 1,873 |
Yes, one of the appealing factors in crypto currency is that transactions aren't open to monitoring by outside government agencies. One of the first users of Monero were drug dealers as the transactions were invisible to the DEA and FBI who would normally monitor cash transactions through the banks. Can't tax an intangible asset. Seti@Home classic workunits:20,676 CPU time:74,226 hours A proud member of the OFA (Old Farts Association) |
Richard Haselgrove Send message Joined: 4 Jul 99 Posts: 14650 Credit: 200,643,578 RAC: 874 |
Or recover stolen loot from a sting. If you go off-state, you lose access to the resources of the state - like the police or FBI to investigate crime. |
Keith Myers Send message Joined: 29 Apr 01 Posts: 13164 Credit: 1,160,866,277 RAC: 1,873 |
I've seen the quote before but can't remember who to attribute, but the statement was an allusion that the state of cryptocurrency is like the 'Wild West' of past years. Lots of lawlessness and few, if any, effective law enforcement actions. Seti@Home classic workunits:20,676 CPU time:74,226 hours A proud member of the OFA (Old Farts Association) |
KLiK Send message Joined: 31 Mar 14 Posts: 1304 Credit: 22,994,597 RAC: 60 |
I dunno. I'm all for taxing bitcoin usage. Oh, man. You're barking at a wrong tree! Mixing headless crunchers to find some BTC or other currencies , with something that makes recognition for what we do here. Sorry to say that, but my government did nothing on my tax return for my participation in SETi@home project. But GRC came to do just that & get something back for my investment in: time managing & administer computers, money for the bills (electricity) & money for investment (just last year I've invested 70% of my monthly paycheck to computer equipment). So, as GRC is concerned - they bring & popularize the science done here (& on other projects). While other crypto hunters use the cards, CPUs & electrical bills for their own use. No matter how much we know that any GPU card can't revenue profit on BTC - there's still stubborn people who will do it. So don't bark on guy who popularize science - bark on ignorance ones! ;) non-profit org. Play4Life in Zagreb, Croatia, EU |
Raistmer Send message Joined: 16 Jun 01 Posts: 6325 Credit: 106,370,077 RAC: 121 |
Is cryptocurrency, and mining, not placing a monetary value on distributed computing? Rather they distract distributed computing potential resources to make monetary value instead of solvation of scientific tasks. As one say "such power and in peacefull aims"... SETI apps news We're not gonna fight them. We're gonna transcend them. |
tullio Send message Joined: 9 Apr 04 Posts: 8797 Credit: 2,930,782 RAC: 1 |
I am following an online course on cloud computing bu Dublin University via FutureLearn, a part of Open University. They gave two examples in which cloud computing is used, genoma sequencing and oil prospecting. The latter also makes use of GPUs, via both CUDA and OpenCL. Tullio |
Dr Who Fan Send message Joined: 8 Jan 01 Posts: 3213 Credit: 715,342 RAC: 4 |
T-Mobile Interference Caused by Man's Bitcoin Mining Rig T-Mobile customers in northern Brooklyn had been complaining for much of last year about mysterious service issues that consistently plagued certain areas of the New York City borough. After a lengthy investigation, the FCC and T-Mobile discovered the culprit was that one man's bitcoing mining rig (more specifically a Bitmain Antminer S5) was somehow causing the interference in the 700Mhz band. "The device was generating spurious emissions on frequencies assigned to T-Mobile’s broadband network and causing harmful interference," the FCC's enforcement bureau told the man in the letter. |
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