Topic: Inflection Point POC; "Proof of Crack" - Scanning more profitable than Mining (Read 256 times)

Honestly my impression of OP is that they have a pretty low sentiment for crypto in general and don't see any long term trend of shilling.  I will agree some of OPs  beliefs are debatable and quite condescending but they aren't irrational. Their motivation isn't for monetary gain (at least I don't see that)  more of a "I warned you"  due to their continued ostracisation from the community.  As you can tell I'm very new to this community and I hope the bell curve of crypto sentiment is symmetrical or else some black swan events may slip through the cracks... 

It's more a question of motive.  If you check their post history, all they do is paint doomsday scenarios about Bitcoin so they can pump whichever altcoins they happen to be invested in at the time.  No one is going to take any of their suggestions seriously, because obvious shill is obvious.

Don't take the acronym POC too seriously and try to view it more as a parody.  The author isn't suggesting a new consensus protocol,  the essence of what they're saying is sha256 & secp256k1 is only computationally secure and there maybe a time where recovering stranded BTC from inactive wallets is a worthwhile endeavour. To use the traditional Bitcoin mining analogy, instead of individuals hauling pickaxes to the cave a few individuals might take shovels to the Caribbean to find buried treasure.

I sincerely doubt the author of this topic, a renowned troll, is posting this because they have a genuine interest in PoC.  They're posting this because they have a vested interest in making weak and illogical arguments against Bitcoin.  They're using PoC as a smokescreen.

They'd rave about any untested concept you care to name if it meant they could take pot-shots at Bitcoin.  Tenacity is not an admirable quality in this situation.  If you want to support an altcoin, please go post about it in the correct subforum.  It doesn't belong here.

I'd just like to take a moment to thank you for being so open in regards to Proof of crack. I recently had the same thought earlier this year and it's validating to see someone else share those. I admire your tenacity of being involved in this since 2018. I've only been working on this for a few months and personally experienced numerous times of doubt.

Proof of Work algorithm, SHA256 hashing, Elliptic Curve Cryptography and the curve that bitcoin is using for it, and a lot more are not going to become bad or weak just because you spammed about them hundred times in the past month.
your posts are only proving that you lack understanding of how things work or possibly don't want to understand them and are more interested in spamming long walls of text about each of these topics!

POP

Proof of PONZI,

That has a nice ring to it,

A shitcoin detector, I suggest you use LSTM/RNN 'text dictionary' and run it on this forum, using HODL as the main vector, 'Proof of Sentiment "SHITCOIN", but I still think that POS mean 'Proof of Shit' (ETH), like in 'no shit, sherlock, its a shit-coin'

Yes, ETH can also be hacked, but its not worth the effort,

Well I like 'Proof of Crack' Capacity is so 2014, like 'Stake' is 1990's progressive political BS.

Work is a waste of resources and its no long profitable, so its game-over, you can talk all you want about how 'beautifu' work was, but going forward it will be seen as a waste of resource ( electrical, computational, ... )

If I throw scrabble letters on the floor, eventually I will generate an intelligent sentence, what of it? That's not much different than running SHA on TX-List, and incrementing a nonce, hoping to find N leading Zero's, what of it?

The FAD of 2017 was the ASIC-PROOF "POW" and BITMAIN replied, You code it, and our hardware will crack it, ... now all alt's that have value in top-20 CAP bitcoin miners, and GPU's are now out of the game for mining, but in the POC world GPU's are the real-deal.

What off it? So we quit mining ZCASH, or ETH and run INTELLIGENT-SCANNING ALGO's to solve DLP, at least that is noble of a fields medal.

Proof of Offal (Poo)

POW is dead, its a losing proposition that's not coming back, right now 'IF' you run an S-9 ( jet engine ) for 2+ years you 'might' get a bitcoin, I think if you intelligently scan for 'lost coins' using intelligent (DLP) methods and NOT dumb LBC methods, then your way ahead scanning.

I swear people will stop coming up with pointless new proofs one day.  The reason no one has found anything more reliable than Proof of Work is because it's actually quite good.  There's an equilibrium between incentive and responsibility that other proofs have yet to match, let alone surpass. 

Also, this one needs a new acronym.  POC has been in use by "Proof of Capacity", or HDD plotting, since 2014.

The cost of POC is higher than POW because it is less efficient. So, if you can't make a profit with POW, you certainly won't make a profit with POC.

We have POW, POS, now we have POC

POW is a waste of electricity

POS is stealing,  just a new way like ICO's to separate morons from their money, .i.e. a criminal venture highly endorsed by crypto-community.

POC is mathematically challenging, its low cost power entropy, and it will  lead to a stronger crypto-currency.

What has POW begat? NADA, just lies, and broken promises, and economic ruin for 10's of 1,000's and growing daily.

What has POS begat? Bullshit, just snake-oil, in a new container, they knew POW was over so the parasites created a new revenue model

Everything about BITCOIN has been a BIG LIE.

1.) Its NOT  SAFE
2.) Its not secure
3.) Its not private,
4.) It's not 'free' to transfer, or even 'nearly free'
5.) It's not a tool for 'little people', its a trap that big-people use to 'catch' little people
6.) Gov say's its ok for GOV to scan block-chain, but bad for little people to scan block-chain ( so much for open block-chain p2p, .. )
7.) BTC was to be +51% p2p little-people, trust came from lack of monopoly, ... fact is +90% all crypto-miners for a cryptos comes from one chinese company, called 'bitmain', so much for the 'lies of bitcoin'

POW - proof of work, hamster running in cage, count revolutions
POS - proof of stake, send 'founder' lots of money, and you can be better person, 4-legs good, 2-legs bad ( animal farm )
POC - Proof of Crack, hacking bitcoin, Just-Do-It to quote Nike, cuz its fun, and more intellectually interesting than POW or POS

...

To quote the 'joker' on "Batman: The dark knight" ... SO HERE WE GO  ...

I have long predicted that scanning, metal-detecting for lost coin, would be far more profitable than mining, once mining cost more than the cost of power, we're they're today, running an s-9 is a negative profit, anywhere on earth less than 0.05 Usd/kwh, and no where on earth has power this free, so only people who 'steal' electricity, can mine for  a profit now,

That leaves 'scanning'

Now people talk shit about 'ethics', but let's take a step back here, first fools have long promised the world and said "Bitcoin can't be hacked" from the very beginning in 2009, ... all the way to 2014, and how many people warned about 'brain wallets' even on this forum?

The block-chain is public the GOV (CIA) frequently uses the block-chain to track INTL flow's of money, everybody reads the block-chain, and scans the block-chain, the fools of BTC, want it both ways, they want the GOV to track the citizens of the world, but they don't want the little people to have the same power as the GOV.

...

Now to the ethics of hacking, well as long as you don't actually use the funds, I don't think you have anything to worry about, I know there are issues, as some coders have got into "Imperial Problems" ( star-wars talk for the nazis who think they control earth ) about say writing software that hacks the internet. But again, white-hats do it on gov dole, and black-hats are what? anybody that isn't on gov dole, ...

All this is about power,

Which is back to btc, one of the other lies is that btc was to enable the little guy, but how is that if he's not even allowed to read the block-chain, and interpret that data as he wishes?

...

It is what it is, GPU class machines are now cheap, and they can and do hack bitcoin, and this thing will scale,

Now as to btc, let's remember that both ecdsa & sha that were chosen were NSA, and at no time in NSA history have they ever made public an algo that didn't have a backdoor. Let's also remember that in time the backdoor is found, just like recently on the INTEL chip.

I have seen dozens of NSA algo's cracked since the 1970's, this shit is highly redundant, hell I remember the time when if I coded an algo the NSA couldn't crack, they could label it as a 'bomb', seriously its like alice-in-wonderland, the Imperial power can make up words to mean anything they want.

...

Talking about "STEALING"

The biggest criminals on bitcoin are the exchanges, they rob people daily nothing is said

The next biggest criminals are the day-traders, they have destroyed bitcoin,

99% of all btc theft is in your face, but the protectors of BTC ignore it, ...

IMHO the kids who take this stuff to the next level aren't motivated by money, study philosophy study old YOGI texts, or advanced buddhism, "If your really good at something the money will come", those who ONLY WORK for money, always LOSE.