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Re: Blockchain, block size and interledger (was: How do bank payments actually work?)

From: Henry Story <henry.story@bblfish.net>
Date: Wed, 27 Jan 2016 18:05:19 +0000
Cc: Fabio Barone <holon.earth@gmail.com>, Web Payments <public-webpayments@w3.org>, Interledger Community Group <public-interledger@w3.org>
Message-Id: <6DB243B5-1191-4844-B968-63EC5CC55253@bblfish.net>
To: Tao Effect <contact@taoeffect.com>

> On 27 Jan 2016, at 02:33, Tao Effect <contact@taoeffect.com> wrote:
> 
>> What do people here think about the potentially incumbent collapse of bitcoin as a crypto-currency itself and the block-size issue?
> 
> I think this BS and you should stop spreading it.
> 
> https://fixingtao.com/2016/01/point-by-point-response-to-mike-hearns-final-bitcoin-post/ <https://fixingtao.com/2016/01/point-by-point-response-to-mike-hearns-final-bitcoin-post/>
Thanks for the article, which does undermine Mike Hearns case.
But there are other cases that have been made too, especially with regard to the energy consumption
of the current bitcoin blockchain. 

See this article 
  http://motherboard.vice.com/read/bitcoin-is-unsustainable <http://motherboard.vice.com/read/bitcoin-is-unsustainable>

At the same time Tony Arcieri who is an expert in cryptograph argues that even though this
may doom the current bitcoin algorithm this does not doom the whole concept. In the second
part of his article "The Death of Bitcoin" he points to a number of up and coming algorithms
that could be much more energy efficient

https://tonyarcieri.com/the-death-of-bitcoin <https://tonyarcieri.com/the-death-of-bitcoin>

Clearly this is a huge research project. Add to that the very intruiging possibility of
having an RDF distributed ledger fusion and I'd say the space is still wide open, and
very exciting. 

Henry

> 
> Cheers,
> Greg
> 
>> On Jan 26, 2016, at 12:59 PM, Fabio Barone <holon.earth@gmail.com <mailto:holon.earth@gmail.com>> wrote:
>> 
>> As suggested, I am starting a new thread for this topic.
>> I apologize if I am coming over as verbose and/or cluttering your inboxes.
>> 
>> ****
>> 
>> What do people here think about the potentially incumbent collapse of bitcoin as a crypto-currency itself and the block-size issue?
>> 
>> The question is related to the blockchain itself, not bitcoin.
>> Block size is ultimately a "political" decision of the community, and there appears to be a scism because of that.
>> Not wanting to discuss that in itself (it's probably being discussed elsewhere),
>> 
>> but what do you guys think this means for blockchain technology itself?
>> 
>> Will we see a proliferation of different blockchains, making ILP even more interesting and important?
>> 
>> Could this be a blow to blockchain technology itself (unlikely IMHO), because limitations of this technology are becoming apparent?
>> 
>> What developments do you foresee happening in this field, also maybe not underestimating a potential collapse of the global economy this year?
>> 
>> On a side note, I like Ethereum's basic tenets but I am worried about a lock-in of some sorts...
>> 
>> 
> 
Received on Wednesday, 27 January 2016 18:05:57 UTC

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