… with preserving their main market: graphics, artificial intelligence, and computational workloads. That’s the key to decentralized mining — leverage existing markets which are bigger and already decentralized. … with preserving their main market: graphics, artificial intelligence, and computational workloads. That’s the key to decentralized mining — leverage existing markets which are bigger and already decentralized. When your hardware isn’t specialized, the hardware starts, and stays, distributed.
blockchain if t…research, “finality” means the extent to which a state transition is guaranteed not to be reverted. In the context of state channels, an operation is final if Alice cannot be prevented from realizing that operation on the blockchain if they choose to.
…that they can cast in “elections” where the winner of the most votes wins, and then takes “office”. No matter what the winner thinks or his plans are, he gets extraordinary, unrestrained extra-judicial, extra-ethical powers over the “electorate” and near total immunity from the law.
…so need significant bootstrapping of liquidity early on until they can achieve healthy equilibrium. But ultimately, these schemes capitalize on a key insight: a stablecoin is, in the end, a Schelling point. If enough people believe that the system will survive, that belief can lead to a virtuous cycle that ensures its survival.
At the end of the day, cryptocurrency miner manufacturers are selling money printing machines. A well-funded profit maximizing entity is only going to sell a money printing machine for more money than they expect they could get it to print themselves. The buyer needs to understand why the manufacturer is selling the units instead of keeping them fo…