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Home :: Money
05 May 2018
A recent story in Medium describes yet again quite well why blockchains don't solve any real
problems:
Blockchain is not only crappy technology but a bad vision for the future.
So what is their irresistable appeal?
Bitcoins remind me of a story from the late chair of the Princeton University
astronomy department. In 1950 Immanuel Velikovsky published
Worlds
in Collision, a controversial best selling book that claimed that
3500 years ago Venus and Mars swooped near the earth, causing
catastrophes that were passed down in religions and mythologies.
See more ...
Stable link is https://jl.ly/Money/bccrud.html
15 Mar 2018
I have learned about a dandy new cryptocurrency called Paypals.
How does it stack up against Bitcoin and other currencies?
See more ...
Stable link is https://jl.ly/Money/bitpal.html
22 Jan 2018
Today's papers are full of puffy pieces about
the wonderous new Amazon Go (pronounced, I
hope, Ama-Zongo) in which you tap your phone as you enter and cameras watch what you
do, figure out what you've put in your bag, and charge you for it when you leave.
There's certainly no check-out lanes
and few visible staff but the whole thing smells to me like a gimmick.
See more ...
Stable link is https://jl.ly/Money/amazongo.html
22 Dec 2017
Let's say I'm with the Chinese government and
decide that I am tired of people evading currency controls and money
laundering using Bitcoin. So we adjust the Great Firewall of China to
block port 8333. We also add some proxies that allow some uncleared
transactions from outside to flow into Chinese networks but not the
other way, and keep track of which ones we let through.
Since a large fraction of the miners are inside China and all of the
hard currency exchanges are outside, this will cause a pretty serious
fork. No doubt people will start trying to evade the block, but the
GFoC works pretty well, and any evasion will take a while to start
being effective. It'd also be easy to tell who was trying to evade
(look for outside transactions in the chains they publish) and send
someone around to chat with them.
Even if the two sides are eventually reunited, then what? You have
two separate chains, with overlapping sets of transactions, which
would make any sort of ad-hoc hack to splice one chain onto the other
impossibly hard, even if the anarchists in the Bitcoin world could
agree to it. The bitcoin voting algorithm would eventuall make one
chain win and the other one disappear. If some of the disappeared
transactions were yours, how would this affect your opinion on
Bitcoins?
Stable link is https://jl.ly/Money/bitsplit.html
26 Sep 2017
Here's some unexpected advice about what to do about the recent
giant Equifax breach: nothing.
See more ...
Stable link is https://jl.ly/Money/equinot.html
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