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Latest articles tagged:

Bitcoin

1904, 2018

Should we think of Bitcoin as a store of energy?

|19 Apr 2018|News|

Many criticize Bitcoin due to the power it consumes to mine, but rarely is it put in context of other industries and economic efficiency overall. Here we debunk some of the energy myths and look at whether we should look at Bitcoin as a store of energy as well as value.

2308, 2017

Miners gaming the BCash emergency difficulty adjustment

|23 Aug 2017|News|

Block 481124 has special meaning on both the Bitcoin and BCash chains this week. For Bitcoin, it will mark the point at which Segwit finally moves to active, bringing with it a capacity increase and the potential for massive off-chain scaling through solutions like Lightning Network. For BCash, it delivered the first increase in mining difficulty since it split from Bitcoin on August 1st. The week also saw the emergence of a new phenomenon on both networks , a back and forth movement of hash power as miners chased profit. To understand the effect of having two high profile SHA-256 based cryptocurrencies we need to look at how the two chains manage mining difficulty. This, along with the price of the coins and the fees brought in from transaction fees, determines how profitable their mining is.

2005, 2017

The mirage of miner centralization

|20 May 2017|News|

Miner Centralization is hard to define. I present three unsatisfactory definitions, and discover a satisfying fourth (“the cost of the minimal viable mining operation”) along the way. Mostly it is just confusing.

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