An Overview of Bitcoin

Discussion in 'Cryptocurrencies' started by Baron, Oct 24, 2013.

  1. Pekelo


    #51     Dec 30, 2017
    Sprout likes this.
  2. Sprout


    Can anyone compare and contrast the difference between blockchain, hyperledger and hashgraph?

    Are there any (current vs planned) implementations of the latter two?
    #52     Jan 1, 2018
  3. Pekelo


    You are going to make my head hurt. I challenge any crypto fan to explain these 3 to the average person.


    What is hashgraph?

    Hashgraph is a data structure and consensus algorithm that is fast, secure, and fair.

    Is there a cryptocurrency?

    There is no hashgraph public ledger or cryptocurrency. Hashgraph is currently being implemented on permissioned networks.


    Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology.

    Think of it as an operating system for marketplaces, data-sharing networks, micro-currencies, and decentralized digital communities. It has the potential to vastly reduce the cost and complexity of getting things done in the real world.

    That is what Hyperledger is about – communities of software developers building blockchain frameworks and platforms.


    Hashgraph vs. Blockchain

    Other advantages it offers over Blockchain

    A new consensus algorithm based on superior distributed ledger technology. This eliminates the requirement for massive computation and unsustainable energy consumption like those of Bitcoin and Ethereum.

    As mentioned earlier, Bitcoin is limited to 7 transactions per second. On the other hand, Hashgraph is 50,000 Times Faster: limited only by bandwidth — 250,000+ Transactions Per Second (Pre-Sharding)


    Hyperledger vs. Blockchain

    "Hyperledger is different from ethereum or ripple or bitcoin as it doesn’t own a currency. It is software that is used for processing. The Usage depends on how each company chooses to utilize the software. For example, banks may use the Hyperledger software to process internal data on their server without having to deal with external entities."
    Last edited: Jan 1, 2018
    #53     Jan 1, 2018
    Sprout likes this.
  4. Pekelo


    Let me answer this in a separate post. There can be lots of plans about the future (LN anyone?), but there are 2 problems with any plans concerning bitcoin:

    1. Who is going to do it, investing money and time in the development?
    2. Can we reach consensus and actually implement the new development?

    So let's say you are a cryptofan, and you have the dough too. You hire a bunch of programers and work on it, eventually coming up with a newer and shinier bitcoin version. This brings you to the #2 question, what is your chance that you can convince miners and others that they should implement your idea, specially if it is against their financial interest?

    Because of this problem, it is much easier to start a new coin or at least a new fork and divide the bitcoin fanbase instead of trying to reach consensus. You can talk as much about technology as you want, when my financial interest is against your logic, I will shit on logic. See BCH, what is clearly an improvement on bitcoin, but who wants to switch over when their little crypto rocket is still going up in value, no matter how bad technologically it is?

    Another problem with #1 is, that other teams could be working on similar solutions and they might develop a working product faster, making your effort worthless eventually. Again, the problem of decentralization... Better to work on a new coin...

    So this problem of decentralization is going to be the death of any overly successful crypto, reaching consensus among users will be impossible and this will give way to new coins and forks.
    Last edited: Jan 1, 2018
    #54     Jan 1, 2018
    Sprout likes this.
  5. Sprout


    #55     Jan 3, 2018
  6. Here4money


    My current strategy is now to off load inflated old coins to shop for bargain new coins with merit. I'll hold some of those older coins as they continue to go up, but realize the 100x gains on them may be over.
    #56     Jan 3, 2018
    vanzandt likes this.
  7. vanzandt


    SRN should be an up and comer.

    The SRN is the FINNEY™ network’s default currency. Here are a few examples –

    Stay connected while traveling abroad, using P2P data connection sharing over FINNEY™ devices network

    Monetize FINNEY™ devices’ computer power while idle, sharing over the secure FINNEY™ network

    Running low on battery is solved, by trading battery power with another FINNEY™ user

    Securely send and receive payments for services and products, using FINNEY™ fee-less transactions system

    SIRIN LABS will partner with consumer electronics OEMs to promote the adoption of FINNEY™ architecture, the software platform, and the SRN currency. Both hardware and software platforms will be released as open source
    #57     Jan 3, 2018
  8. Sprout


    This is pretty mesmerizing stuff,...

    Witnessing the birth of a new financial universe:

    If you click on the viz, it will show rankings of map quadrants spatially containing network nodes.

    Pretty Tripping stuff.

    Live Dataviz of blockchain transactions in real time:

    Considering the size of the BTC network universe, this appears to me like the volume would be a bit low. Is there another way to look at this?

    It is interesting to see the frequency of $100k transactions.
    Last edited: Jan 3, 2018
    #58     Jan 3, 2018
    bpr and vanzandt like this.
  9. If you dont know who the sucker at the table is, its you
    #59     Jan 17, 2018
  10. Robert Morse

    Robert Morse Sponsor

    #60     Jan 22, 2018