Topic: rpietila Altcoin Observer - page 143. (Read 387552 times)

Why do you think so? My smartphone is on charger almost every night, regularly, and I would be very happy if it would do something useful instead of waiting for the alarm clock to fire up. It's trivial to set preference in any application to work only when the phone is on charger.

Just read the John Tromp's paper and I believe he is on the right track with memory-swapping constrained algorithms. Probably there's a need to examine some algorithms that prefer the RISC based instruction pipeline, and try to incorporate them somehow with Cuckoo Cycle hashing. Idea is to further bias the smartphones since they have less memory and slower processors than desktops, and are almost without exception RISC based. Such combination would be a winner.

If all goes well and the team will deliver, how long does it take before there are 100s of useful apps running on ethereum? And that there are people actually using those apps? Probably takes a while after the launch before there are anything useful, and the miners start mining and selling, and there are huge amounts of people with loads of presale ether. And, if bitcoin skyrockets to 5x-10x people are wanting to sell ether for fiat.

If I knew the answers to those questions, it would be easy to decide between buying from presale or markets after the release.

Bitcoin is not a big phenomenon on the scales Intel cares about.

I find it hard to believe that any form of PoW mining (regardless of algorithm) on a smartphone would ever be popular given battery life considerations.

No.  Sha512 is also sha-2.

Sha3 is keccak, and it's a completely different algorithm.

...and sha3 is sha512

Sha256 is Sha-2.

Why wouldn't it make sense for Intel to use SHA256 since Bitcoin has become such a big phenomena.
Is AES better?

Intel is proposing to accelerate SHA2. But this is going to take years to be implemented and adopted by a majority of computers.

AES is already accelerated on Intel CPUs. And every one is going to need encryption in this brave new NSA world.

I'd bet on AES instead of SHA2 as reaching ubiquity sooner.

Isn't Bitcoins SHA256 used widely not only for mining already?

I've written similarly, but note that getting to 100M takes time and perhaps much of the supply is mined before you get there, especially with coins that have diminishing % rate of debasement (i.e. most all of them).


GPU can be defeated because it doesn't have specialized instructions and the CPU does, but preventing ASICs is impossible (if the incentive is large enough).

I had thought of both of the ideas mentioned in the "ASIC Resistance" section. Neither will defeat ASICs. And I see that Vitalik hasn't seen my analysis of Cuckoo hash, because I argued it can also defeated with an ASIC.

Instead I think the best goal is the algorithm should be one that it is likely to be highly needed for general computing and thus Intel will continue to accelerate it and motherboard vendors might even build on an ASIC to each motherboard. Bitcoin USB ASICs with the similar power efficiency of the bigger models now cost only $15 at Amazon.com.

You can go on trip around the world, have all the girls you want, buy some sport cars, a manor with a swimming pool,...
You know plenty things to do with millions of dollars non refundable (thank you Bitcoin).

EDIT :
The Ethereum contract say it  We have no time schedule and no obligation of delivering anything which mean We'll spend all our life enjoying your BTC while you wait for your vaporware, thank you. 

Something simple I don't understand is: why to raise considerable funds so early when many things are not close to final (not even talking about implementation, but design)?
It is not like they need the money short-term to work on this... or if that's the case, then it's really a company.

Running the contracts on mining nodes is in my analysis a non-starter. That will be your only hint as to the direction I would take this if I were creating a Turing-complete scripting for block chain.

Well I agree with that. If Ethereum's currency offers nothing that Bitcoin doesn't already offer, then should allow Bitcoin to be the currency used on their smart contracts blockchain.

But Ethereum is talking about some innovations on the currency also, e.g. 12 second block period and transactions.

Then again it is apparently mostly vaporware and many other aspects aren't even decided, e.g. the Pow algorithm.

That alone would give me nightmares if I were using Ethereum.

Or someone exploits their VM code and breaks out.

Hey guys I agree about the IPO metrics being silly (in terms of buy small, grow big, but maybe they work as a centralized distribution mechanism?) and I wrote similar criticism at the thread I linked to.

But then I took another look at it from the standpoint of technology and potential market size.

1. A programmable blockchain has 100s more applications than Bitcoin alone. This could be what is required to increase adoption by 10 or 100 fold.

2. Vitalik Buterin seems quite capable at least from reading a few of his blog posts. Yet I will say that when Charles H. asked me to look at Vitalik's Dagger Pow CPU-only algorithm several months ago, I told him it could be trivially defeated with parallelism in the same memory footprint and now Vitalik admits it ("shared memory"). So it appears to me he might be very intelligent yet unable to actually choose correct designs and "get 'er done".

The concept of what Ethereum wants to achieve is extremely powerful and could really change the world immensely. Any one agree or disagree?

A ("the") fundamental problem is that Turing-complete insures viruses will appear and mess up the state (i.e. on the block chain).

I don't see any solution from them yet on this fundamental issue.

Yet I am thinking about a potential decentralized solution and so if I can think of it, they may be able to too.

I agree of course they are selling vaporware in many respects.

Probably will end up being a failure, but there is huge latent potential also (difficult to totally dismiss).

Comments? Thoughts?

P.S. I am very sleepy, so please excuse if this post is lame.

Add: I haven't looked in detail at the other smart contract coins, e.g. CounterParty, BitShares. Do they offer Turing-complete scripting?

I've been reading some of the negative posts regarding ethereum and I'm having a hard time grasping - in a world of a million clonecoins why it's a bad investment?  Anonymint's idea of virus in the blockchain is the biggest detracter I can see.

I see people saying
  A - the distribution model gives too much ethereum distribution to original investors.
  B - the distribution model doesn't limit the number of ethers distributed - so it screws the initial investors.

This seems to balance out for me.  I mean - if initial investors are getting screwed but too much ether distribution at the same time...

Second complaint I've seen is inflation. 

Inflation = @ .26 inflation against the ORIGINAL investment amount (not a recurring .26) is less than bitcoin in year 1 (100%) & year 2 (50%) etc.  At some point (been too lazy to figure it out) it will inflate faster than bitcoin - but by year 5 (if my math is right) it'll be 7% inflation and continue to decline.

Third complain is that it's a scam.  I have a difficult time buying this after looking thru the forums, looking at the github activity (https://github.com/ethereum/cpp-ethereum).  Here's a guy who's creating his government with it - https://forum.ethereum.org/discussion/1009/the-people-s-republic-of-doug-ethereum-based-decentralized-organization

It feels like pointing out the obvious to say that even if ethereum raises $10,000,000 - they have already done MORE work & innovation than 100X the everyday $250,000 - $500,000 scamcoin / pump & dump.

P.S.  I'm not an investor - have too much tied up in crypto already.  Just wondering if I'm crazy.

Amazing that we both posted about the same thing in different places on the same day. We must team-up to make this coin

Going to read everything on cuckoo Github.