tag:blogger.com,1999:blog-4503292949532760618.post9038775704243698885..comments2024-03-28T00:21:45.637-07:00Comments on DSHR's Blog: Rarely Is The Question AskedDavid.http://www.blogger.com/profile/14498131502038331594noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4503292949532760618.post-39118994519115621872020-06-21T13:37:19.222-07:002020-06-21T13:37:19.222-07:00The halvening happened, and it may be "good f...The halvening happened, and it may be "good for Bitcoin" but it <a href="https://davidgerard.co.uk/blockchain/2020/06/21/news-estonia-not-so-keen-on-crypto-peter-todd-settles-sexual-assault-defamation-claim-how-compound-works-bye-bye-wirecard/" rel="nofollow">isn't good for Bitcoin miners</a>:<br /><br />"How are Bitcoin miners doing after the halving? Total fresh bitcoins transferred from miner addresses on Thursday 18 June was 988 BTC, the lowest since February 2010 — which was before Bitcoin exchanges existed. There’s about 900 BTC freshly created each day — so miners are having to sell more coins than they mine, to keep up with their bills, and it’s still the lowest ever."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-39712521092826034892020-06-21T13:29:36.810-07:002020-06-21T13:29:36.810-07:00Ever since Cryptokitties ground the Ethereum block...Ever since Cryptokitties ground the Ethereum blockchain to a halt, a search has been on for a scaling solution. Now <a href="https://davidgerard.co.uk/blockchain/2020/06/21/news-estonia-not-so-keen-on-crypto-peter-todd-settles-sexual-assault-defamation-claim-how-compound-works-bye-bye-wirecard/" rel="nofollow">David Gerard reports</a> that the inability to scale has been re-discovered:<br /><br />"The forum site Reddit uses “karma points” — up and down votes on posts and comments. For some unfathomable reason — I would guess someone high up having massive Ethereum bags — they want to do these as tokens on Ethereum, in conjunction with the Ethereum Foundation.<br /><br />But Ethereum doesn’t scale to cat pictures, let alone to Reddit. Even running these tokens on just two subreddits on an Ethereum testnet, Reddit are finding that: “Community Points distributions have cost an order of magnitude more gas than all other operations combined, primarily due to on-chain storage costs associated with onboarding new users.”<br /><br />So Reddit is running a competition to find a scaling solution for Ethereum! You know, one of the things that Ethereum’s been after since 2015."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-75076921186179445922020-05-12T10:34:20.227-07:002020-05-12T10:34:20.227-07:00Jemima Kelly reports that Bitcoin’s “halvening” is...Jemima Kelly reports that <a href="https://ftalphaville.ft.com/2020/05/11/1589207259000/Bitcoin-s--halvening--is-upon-us/" rel="nofollow"><i>Bitcoin’s “halvening” is upon us</i></a>:<br /><br />"The reason this is so exciting to bitcoin bros (and gals, though there are far fewer of those) is that this event is seen as <a href="https://ftalphaville.ft.com/2020/01/30/1580390916000/Bitcoin-s--halvening--won-t-boost-its-price-/" rel="nofollow">a “surefire way”</a> for <a href="https://davidgerard.co.uk/blockchain/2019/05/27/the-origin-of-number-go-up-in-bitcoin-culture/" rel="nofollow">number to go up</a> (ie, for the price to increase). That’s because, according to the logic, if demand remains the same, the “age-old phenomenon of supply and demand” will kick in.<br /><br />As we’ve pointed out before, however, the supply is still actually increasing, just at a slower rate. The halvening, therefore, can be thought of as a kind of “tapering”, but not a reduction in supply. Tomorrow, there will still be more bitcoins in circulation than today. So we see no reason that the halvening should boost bitcoin’s price."<br /><br />And it didn't - staying around $8.5K.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-41945569962642389262020-04-28T10:05:06.654-07:002020-04-28T10:05:06.654-07:00News from the art world regarding blockchains and ...News from the art world regarding blockchains and smart contracts as a proof of ownership of digital artworks in this Twitter thread by Harm van den Dorpel: https://twitter.com/harmvddorpel/status/1255108289584644097<br /><br />Highlights:<br /><br />"1/9) The way left gallery used to work (v1) was that people could pay with +50 cryptocurrencies (using Coingate), PayPal, or creditCard (using Stripe)"<br /><br />"8/9) Interestingly, most people who bought editions from left gallery, and who are active in the blockchain space, paid with PayPal, not with their crypto..."Dragan Espenschiedhttps://www.blogger.com/profile/07217215855337282021noreply@blogger.com