The Blockchain is just a database, design in a way that updating data is very expensive. The only application is Bitcoin.
Outside Bitcoin; A Blockchain can't be secured, and so, is just a costly misplaced technology; A classical database will do the job better.
This is the reason we have Bitcoin; Bitcoin is sound money, and the software running Bitcoin is designed to run for decades.
And we have the word: Cryptocurrencies, Bitcoin is alone, others are just scams for most of them, or useless for the remaining.
Bitcoin defined scarcity; the others are just a way for some software developers to print money.
A 51% attack is just a reminder that you can't secure any software junk.
We have a lot of noise in this space; And so many useless/doubtful projects. Bitcoin is censorship resistant, and lightning is the second layer allowing real scalability.
A conference to watch:
https://youtu.be/16T5CUNGX2Q
Fiat currencies are the true lottery ticket: A wealth transfer: from the fiat currency user to the state. We already know the winner.
Since the 20th century, only fiat currencies are available as money; Keynes mindset, and inflation, did a great job to suppress the 'store of value' effect of any money.
Now, we need a trustless, trans-border, anti-censorship resistant, and so enforcing the private property rights of the owners, new form of hard money. This is Bitcoin: A protocol; And as a money; Bitcoin is harder than Gold.
Only Bitcoin matter.
We must keep in mind: transactions in Bitcoin are censorship resistant; And the transactions can't be reversed. These features can only be achieved using POW, and a software working as a protocol without any 'single point of failure'. A central authority is a 'single point of failure'.
Only Bitcoin has these properties in the cryptocurrencies world. Others are just companies with a known 'central authority'.
The short-term price of Bitcoin is meaningless. We will see in ten years; I'm sure John McAfee will be right with his price prediction.
We had to much noise in this 'space'. Only Bitcoin matter; Bitcoin is the only one truly scarce, others are just companies doing marketing on their useless products. The innovation is the software trustless 'hard money'; Not useless features like the unscalable, unsecured, and centralized ETH, with premined and so on... These useless projects should go to an insignificance point; As they were at the beginning of 2017.
Your are missing the point; We face deflation with computing hardware. Are you waiting ten years to buy a better processor or a better hard-drive at the same price; The answer is NO.
Inflation is just a wealth transfer to the money printing industry. That's All. Keynes is the issue, not the answer!
Bitcoin can't face the same issue. Private property in Bitcoin is enforced by cryptography; If you have your private keys, you own your Bitcoins. Keeping its own keys is taking Bitcoin seriously. What happened with Mt. Gox is a lesson for everyone
If you think Bitcoin as a payment system, you are missing the point. Bitcoin is a store of value; 'Lightning' is the payment system of Bitcoin and 'Lightning' can scale without issue. 'Layers' are the answer.
Shorting a week ago was a good bet; But today...
Bitcoin is scarce; I doubt, it will go under $1000. But the price doesn't matter on the short run anyway.
The 19th century had the Gold Standard; Since the 20th century we have only fiat currencies, and inflation.
Now we have Bitcoin a 'hard money' compatible with modern world. A cross border store of value.
This space had thousand of useless projects with title like: Better than Bitcoin, or Bitcoin 2.0. handled by scammer. The bear market was inevitable.
In the cryptocurrencies space only Bitcoin matter. Bitcoin will still be around us in ten year. And we will see the price...
These studies are irrelevant. Bitcoin is a 'hard money'; It means it can't be print at will and can't be counterfeit. The scarcity of Bitcoin is real.
If you want something that cost nothing to produce you can use USD. USD can be inflated at will; Bitcoin can't.
Mining Bitcoin must be costly like mining Gold.
BCASH is just useless; It was just hard forked to get something still compatible with the ASICBoost trick used by BITMAIN; We know now that BITMAIN own 10000000 BCASH, this coin will just crash if BITMAIN is out of money.
BITCOIN (BTC) is the store of value, ZEC is not, it was just released for the people controlling the code to get a 20% tax on the mining operation.
I don't understand why Jimmy Song waste his time debating with Roger Ver. All theses 'alts' are just scams for most of them or useless for the fair ones.
The book 'The Bitcoin Standard' is the good one to get a good economic perspective.
BCASH holders definitively miss something, and at 6.8% of the BTC value, this coin look more and more as a Titanic.
Litecoin and Dogecoin are not premined cryptocurrencies; At least this reduces the risk of pump and dump scheme; This is what we see a lot of the time for the last few years when the 'ICO' concept is involve...
Someone killing a bulletproof 'security model'; and replacing it by a lot of absurd random layer of software code is at least an 'useful idiot' in this post Snowden era.
As a Slackware user myself; Slackware chooses the right path; and follow the good UNIX practices that gives us better securities expectations.
Systemd users choose to follow the M$ model; A 'do everything', but a do everything without any concern for the implementation; and the ‘testability’ of the whole code. This gives us, tasks using useless 'root' privileges, functions that can’t be part of a ‘/bin/init’ but are added anyway to Systemd and so on
The good move is to remove Systemd. Systemd has no added values and add only new issues.
You are right; On a classical UNIX setup, all the directories/files describe in this 'blog' are only writable by 'root'; So the malware can't compromise the full system. It requires something bypassing the classical security layers, maybe SystemD?
The today French Present has only one goal win the next election (2017). His strategy is now inspired by the former East Germany, control everything...
RSA factorization using today quantum registers is more than useless; The last year largest number processed was: 56,153.
The quantum decoherence is faster when the number of particle increases; And to defeat the RSA some huge quantum registers are required.
The only question: is a quantum machine that can process useful computing operation is even possible?
If M$ is not clear about what there are doing; This is clearly because they want to make money with your data; with your behavior; Selling ads, selling where you are, selling what you are doing...
Now you are still buying the OS, and you are the 'product' too. Fascinating!!!
The classical UNIX philosophy is one daemon one goal, perfectly implemented, fully secured and full documented. Systemd breaks this view and takes the windows 7 and before concept.
We know that results of this second philosophy: One software that does everything, using a quick and dirty implementation, with an incomplete, and erroneous documentation, and the security is done in a fully procrastination way...
Are you sure that systemd can really escape this second philosophy? In my opinion it can’t. I’m still using the slackware distribution, and I hope they will stay away from systemd.
The direction taken by a lot of OS manufacturer is quite problematic: You are now the product.
This is incompatible with the definition of a computer: A machine that you own and does what you order to do, and not locked in any way, and capable of doing generic computing; Not a system that tag your internet request, and collect whoever knows; and that can only run pre-selected software...
Now the OS world is divided in two: UNIX keeping the classical computing way; M$, google and the some other; using a locked OS, and turning more or less the user in the 'product'.
Slashdot Mirror
The Blockchain is just a database, design in a way that updating data is very expensive. The only application is Bitcoin. Outside Bitcoin; A Blockchain can't be secured, and so, is just a costly misplaced technology; A classical database will do the job better.
This is the reason we have Bitcoin; Bitcoin is sound money, and the software running Bitcoin is designed to run for decades. And we have the word: Cryptocurrencies, Bitcoin is alone, others are just scams for most of them, or useless for the remaining. Bitcoin defined scarcity; the others are just a way for some software developers to print money. A 51% attack is just a reminder that you can't secure any software junk.
We have a lot of noise in this space; And so many useless/doubtful projects. Bitcoin is censorship resistant, and lightning is the second layer allowing real scalability. A conference to watch: https://youtu.be/16T5CUNGX2Q
Fiat currencies are the true lottery ticket: A wealth transfer: from the fiat currency user to the state. We already know the winner. Since the 20th century, only fiat currencies are available as money; Keynes mindset, and inflation, did a great job to suppress the 'store of value' effect of any money. Now, we need a trustless, trans-border, anti-censorship resistant, and so enforcing the private property rights of the owners, new form of hard money. This is Bitcoin: A protocol; And as a money; Bitcoin is harder than Gold. Only Bitcoin matter.
We must keep in mind: transactions in Bitcoin are censorship resistant; And the transactions can't be reversed. These features can only be achieved using POW, and a software working as a protocol without any 'single point of failure'. A central authority is a 'single point of failure'. Only Bitcoin has these properties in the cryptocurrencies world. Others are just companies with a known 'central authority'.
The short-term price of Bitcoin is meaningless. We will see in ten years; I'm sure John McAfee will be right with his price prediction. We had to much noise in this 'space'. Only Bitcoin matter; Bitcoin is the only one truly scarce, others are just companies doing marketing on their useless products. The innovation is the software trustless 'hard money'; Not useless features like the unscalable, unsecured, and centralized ETH, with premined and so on... These useless projects should go to an insignificance point; As they were at the beginning of 2017.
Your are missing the point; We face deflation with computing hardware. Are you waiting ten years to buy a better processor or a better hard-drive at the same price; The answer is NO. Inflation is just a wealth transfer to the money printing industry. That's All. Keynes is the issue, not the answer!
Bitcoin can't face the same issue. Private property in Bitcoin is enforced by cryptography; If you have your private keys, you own your Bitcoins. Keeping its own keys is taking Bitcoin seriously. What happened with Mt. Gox is a lesson for everyone
Executive Order 6102: The confiscation of Gold. It already happened under president Franklin D. Roosevelt.
If you think Bitcoin as a payment system, you are missing the point. Bitcoin is a store of value; 'Lightning' is the payment system of Bitcoin and 'Lightning' can scale without issue. 'Layers' are the answer.
Shorting a week ago was a good bet; But today... Bitcoin is scarce; I doubt, it will go under $1000. But the price doesn't matter on the short run anyway. The 19th century had the Gold Standard; Since the 20th century we have only fiat currencies, and inflation. Now we have Bitcoin a 'hard money' compatible with modern world. A cross border store of value. This space had thousand of useless projects with title like: Better than Bitcoin, or Bitcoin 2.0. handled by scammer. The bear market was inevitable. In the cryptocurrencies space only Bitcoin matter. Bitcoin will still be around us in ten year. And we will see the price...
These studies are irrelevant. Bitcoin is a 'hard money'; It means it can't be print at will and can't be counterfeit. The scarcity of Bitcoin is real. If you want something that cost nothing to produce you can use USD. USD can be inflated at will; Bitcoin can't. Mining Bitcoin must be costly like mining Gold.
BCASH is just useless; It was just hard forked to get something still compatible with the ASICBoost trick used by BITMAIN; We know now that BITMAIN own 10000000 BCASH, this coin will just crash if BITMAIN is out of money. BITCOIN (BTC) is the store of value, ZEC is not, it was just released for the people controlling the code to get a 20% tax on the mining operation. I don't understand why Jimmy Song waste his time debating with Roger Ver. All theses 'alts' are just scams for most of them or useless for the fair ones. The book 'The Bitcoin Standard' is the good one to get a good economic perspective. BCASH holders definitively miss something, and at 6.8% of the BTC value, this coin look more and more as a Titanic.
Litecoin and Dogecoin are not premined cryptocurrencies; At least this reduces the risk of pump and dump scheme; This is what we see a lot of the time for the last few years when the 'ICO' concept is involve...
Someone killing a bulletproof 'security model'; and replacing it by a lot of absurd random layer of software code is at least an 'useful idiot' in this post Snowden era.
As a Slackware user myself; Slackware chooses the right path; and follow the good UNIX practices that gives us better securities expectations. Systemd users choose to follow the M$ model; A 'do everything', but a do everything without any concern for the implementation; and the ‘testability’ of the whole code. This gives us, tasks using useless 'root' privileges, functions that can’t be part of a ‘/bin/init’ but are added anyway to Systemd and so on The good move is to remove Systemd. Systemd has no added values and add only new issues.
You are right; On a classical UNIX setup, all the directories/files describe in this 'blog' are only writable by 'root'; So the malware can't compromise the full system. It requires something bypassing the classical security layers, maybe SystemD?
The today French Present has only one goal win the next election (2017). His strategy is now inspired by the former East Germany, control everything...
The OS is now the true ownership of the machine, and will get the ads revenues...
RSA factorization using today quantum registers is more than useless; The last year largest number processed was: 56,153. The quantum decoherence is faster when the number of particle increases; And to defeat the RSA some huge quantum registers are required. The only question: is a quantum machine that can process useful computing operation is even possible?
Doing everything as systemd do, and adding 'su', is likely a new security threat.
If M$ is not clear about what there are doing; This is clearly because they want to make money with your data; with your behavior; Selling ads, selling where you are, selling what you are doing... Now you are still buying the OS, and you are the 'product' too. Fascinating!!!
Why giving up something efficient and optimized for large power output, to a gadget like resource optimized for low power output: Nonsense
The classical UNIX philosophy is one daemon one goal, perfectly implemented, fully secured and full documented. Systemd breaks this view and takes the windows 7 and before concept. We know that results of this second philosophy: One software that does everything, using a quick and dirty implementation, with an incomplete, and erroneous documentation, and the security is done in a fully procrastination way... Are you sure that systemd can really escape this second philosophy? In my opinion it can’t. I’m still using the slackware distribution, and I hope they will stay away from systemd.
The direction taken by a lot of OS manufacturer is quite problematic: You are now the product. This is incompatible with the definition of a computer: A machine that you own and does what you order to do, and not locked in any way, and capable of doing generic computing; Not a system that tag your internet request, and collect whoever knows; and that can only run pre-selected software... Now the OS world is divided in two: UNIX keeping the classical computing way; M$, google and the some other; using a locked OS, and turning more or less the user in the 'product'.