On Block-chain Tim and Donald it is worth considering that Bitcoin is about one third of the value of all cryptocurrencies, Ethereum, which I am a miner of, is half the size of Bitcoin. Respectively they have a Dollar value of 150 billion and 75 billion, the rest of the Crypto-currencies market including the two large currencies is currently 377 billion dollars.
My Mining machines, which mine ERC Dagger type algorithms, are also computers which make up part of the distributed web. The distributed WEB is web mark 3.
Web 2 / The Cloud or internet of things is based upon a centralised model of computers with huge server farms, there are many such server farms in Northern Sweden because it is both cool and has abundant renewable Electricity Facebook here for instance. Genesis Mining has server Farms all over the world some in Icelöland as Donald says, this is because it is cool there and there is abundance renewable electricity.
In a Past Life, I became involved in data centre development. ( Some of my stuff from 1999 in this video)
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https://www.youtube.com/watch?v=obPLIY6Z6Pc
East 14 dot com was an internet village scheme co-located by two large data centres with symbiosis built into the proposed development the site I sold to Ballymore homes who are actually now building this.
https://www.ballymoregroup.com/news/ballymore-launches-goodluck-hope
Application specific integrated Chip ( ASIC) Mining, which Bitcoins SHA 243 Algorithm is mined by, means that Only the Bit Coin mining operation is supported on top of that Mining network, the Bitcoin Block chain can support a lot of trust-less transactions for distributed ledger work on that network but I believe although the Ethereum type currencies which can support the Distributed World Super computer, as well as participants in that distributed super computer being rewarded with currency at the same time as they participate in the distributed web eco system, is a huge opportunity for a distributed network system of exchangeable complementary crypto currencies.
Other crypto currencies such as burst coin and Hash Graph utilise Hard Drive and Mobile Phone technology and mining can be corespondent with Dagger mining with Claymore Dual miner for instance or just keep a ledger of centralised and centrally “Pre-mined” Coins as in the case of Ripple and Hash-graph or Cardano.
The Inter-Planetary File System IPFS has got to the beta testing stage and AKASHA is currently in BETA Testing, The Idea that such a valuable distributed supercomputer effectively in the WEB 3 commons is to be banned for excessive energy use is to me absurd. It Might be banned but the reason will be that it threatens the Central Bank IBS model of debt based banking.
There are 21 Blogs on my Blog about Block Chain and the distributed web.
https://letthemconfectsweeterlies.blogspot.se/search?q=Blockchain
Seeds along with Circular economy use models of consumption rather than ownership models based upon embodied energy valuation models could revolutionise a distributive debt-free rather than a re-distributive debt-based monetary ecosystem.
http://letthemconfectsweeterlies.blogspot.se/2018/04/akasha-smasha-decentralized-social_53.html
http://letthemconfectsweeterlies.blogspot.se/2018/02/the-distributed-web-energy-based.html
http://letthemconfectsweeterlies.blogspot.se/2017/10/getting-blockchain-central-banks.html
If you think about this post and then watch the Bernard Lietaer video I posted further up the Thread and then Think about seeds, tell me you do not get excited about the possibilities.
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I agree. To have any participation in the debate, we need to speak the ‘language’ in which the debate is conducted.
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I disagree when a set of axioms are completely unfit for the purpose one must come up with a new system of Mathematical Axioms, Newton and Leibnitz gave us calculus for that purpose.The problem if one lacks the imagination to embrace or invent new tools is that we become slaves to the Law of the Instrument https://en.wikipedia.org/wiki/Law_of_the_instrument where every problem ends up looking like a nail.
