Bitcoin Miner günstig kaufen eBay

/r/Technology

Subreddit dedicated to the news and discussions about the creation and use of technology and its surrounding issues.
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AnarchoCryptography

AnarchoCryptography
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Human's Help Human's Build Bitcoin Better

Currently one man's effort to help newbies learn about Bitcoin. Eventually a community effort to help everyone enhance Bitcoin.
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08-31 07:44 - 'This is how i think it works. / If you look close at the video, you can see what is going on: / 1. The machine shows a QR code (a LN invoice) 2. The customer scans the QR with the mobile phone 3. The customer pays the invoi...' by /u/beinardus removed from /r/Bitcoin within 489-499min

'''
This is how i think it works.
If you look close at the video, you can see what is going on:
  1. The machine shows a QR code (a LN invoice)
  2. The customer scans the QR with the mobile phone
  3. The customer pays the invoice
  4. The cryptographic proof of payment is shown back to the machine
  5. The motor starts running
  6. Goto step 1
The machine is offline. In step 3, the customer does not communicate to the node embedded in the machine, but an online node that mirrors this node.
In step 4, the node embedded in the machine is able to verify the proof of payment, because it has to match the invoice of step 1.
I don't know if these proof of payment QR codes (step 4) are new. I have not seen them before.
'''
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Author: beinardus
submitted by removalbot to removalbot [link] [comments]

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield?

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield?
Is there a maintained spreadsheet anywhere that shows this $mined/minermarketprice ratio for marketprices of new and used miner asics and fpgas?
submitted by dswdswdsw to BitcoinMining [link] [comments]

Be careful buying bitcoin in Romania from these machines ... 25,819Lei is $6,500 or €5,600 - one hell of a markup! (Current price is $5835). Anyone else seen these elsewhere, what are the rates?

Be careful buying bitcoin in Romania from these machines ... 25,819Lei is $6,500 or €5,600 - one hell of a markup! (Current price is $5835). Anyone else seen these elsewhere, what are the rates? submitted by mcnicoll to Bitcoin [link] [comments]

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield?

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield?
Used is fine by the way.
I like to look at the $bitcoinyield/minermarketprice return rather than all the others but i havent found a convenient maintained spreadsheet for that.
submitted by dswdswdsw to Bitcoin [link] [comments]

10-01 19:04 - 'What is a Ricardian Contract? A Ricardian contract is a legally binding agreement on the blockchain. It is an ordinary text document that is readable by both humans and machines. Find out more' (arxum.com) by /u/Arxum_company removed from /r/Bitcoin within 353-363min

What is a Ricardian Contract? A Ricardian contract is a legally binding agreement on the blockchain. It is an ordinary text document that is readable by both humans and machines. Find out more
Go1dfish undelete link
unreddit undelete link
Author: Arxum_company
submitted by removalbot to removalbot [link] [comments]

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield? /r/BitcoinMining

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield? /BitcoinMining submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield? /r/Bitcoin

Are there miner machines available for purchase under $200 (preferably under $100 ) that can mine $10 gross worth of bitcoin a year at current prices ignoring electricity costs? If not what is best cheap miner gross yield? /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Be careful buying bitcoin in Romania from these machines ... 25,819Lei is $6,500 or 5,600 - one hell of a markup! (Current price is $5835). Anyone else seen these elsewhere, what are the rates? /r/Bitcoin

Be careful buying bitcoin in Romania from these machines ... 25,819Lei is $6,500 or 5,600 - one hell of a markup! (Current price is $5835). Anyone else seen these elsewhere, what are the rates? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Be careful buying bitcoin in Romania from these machines ... 25,819Lei is $6,500 or €5,600 - one hell of a markup! (Current price is $5835). Anyone else seen these elsewhere, what are the rates?

Be careful buying bitcoin in Romania from these machines ... 25,819Lei is $6,500 or €5,600 - one hell of a markup! (Current price is $5835). Anyone else seen these elsewhere, what are the rates? submitted by ImagesOfNetwork to ImagesOfromania [link] [comments]

Bitcoin mentioned around Reddit: You suddenly come into possession of a time machine that you can use to travel to any point in time past or future. What is the first thing you do? /r/AskReddit

Bitcoin mentioned around Reddit: You suddenly come into possession of a time machine that you can use to travel to any point in time past or future. What is the first thing you do? /AskReddit submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin [Cash] is what is known as a decider. There is very little written on this concept, and I believe [B]itcoin [Cash] is the first system to implement a completely total system as a Turing machine ; Craig Wright * [Cash] insertion mine /r/btc

Bitcoin [Cash] is what is known as a decider. There is very little written on this concept, and I believe [B]itcoin [Cash] is the first system to implement a completely total system as a Turing machine ; Craig Wright * [Cash] insertion mine /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

In bitcoin block mining isnt the correct result a result of many of many guesses to the solution to the problem thus dependent on the numbers of guesses made by the machine to give a higher chance of a correct guess? Also what is the length now of a typical correct result to release a block?

In bitcoin block mining isnt the correct result a result of many of many guesses to the solution to the problem thus dependent on the numbers of guesses made by the machine to give a higher chance of a correct guess? Also what is the length now of a typical correct result to release a block?
submitted by georedd to BitcoinMining [link] [comments]

Sounds like mining is not a good way to make money, what about bitcoin machines/terminals? /r/Bitcoin

Sounds like mining is not a good way to make money, what about bitcoin machines/terminals? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

Bitcoin mentioned around Reddit: Is bitcoin mining really just mining for a machine that computates and predicts what everyone on the internet will see from their news feeds/google results? /r/conspiracy

Bitcoin mentioned around Reddit: Is bitcoin mining really just mining for a machine that computates and predicts what everyone on the internet will see from their news feeds/google results? /conspiracy submitted by BitcoinAllBot to BitcoinAll [link] [comments]

At this point in the bitcoins evolution is it even worth the time to mine coins without a very serious setup? If it is possibly still worth it what mining usb, or small mining machine would you recommend? It seems publicly either u have a big mining operation or it's just not worth the t /r/Bitcoin

At this point in the bitcoins evolution is it even worth the time to mine coins without a very serious setup? If it is possibly still worth it what mining usb, or small mining machine would you recommend? It seems publicly either u have a big mining operation or it's just not worth the t /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I've been doing bitcoin mining with ASIC machines. What is a worthwhile graphics card or CPU mining machine I should get?

Thanks in advance for answering.
submitted by thewhiskey to dogecoin [link] [comments]

In bitcoin block mining isnt the correct result a result of many of many guesses to the solution to the problem thus dependent on the numbers of guesses made by the machine to give a higher chance of a correct guess? Also what is the length now of a typical correct result to release a block?

In bitcoin block mining isnt the correct result a result of many of many guesses to the solution to the problem thus dependent on the numbers of guesses made by the machine to give a higher chance of a correct guess? Also what is the length now of a typical correct result to release a block?
submitted by georedd to Bitcoin [link] [comments]

Mike Tyson:"What the hell is a bitcoin machine?"

Mike Tyson: submitted by coincrazyy to BitcoinAll [link] [comments]

Controls Engineer salary structure (no amounts talk please)

Hey there ya'll,
I recently started with a company as a controls engineer earlier this year. I've never held such a position, and I don't know very many people that do or worked with any in the past. Thus, I don't have much of a data pool to reference when it comes to expected benefits or salary structures.
In my job description I'm more of a "C&I" and I'm often referred to as such by those I'm working with or for. It's a European company that has just stepped into the NA market for their products (and plan to expand). We work primarily with Siemens PLCs, making all major program/HMI changes necessary for the function of the plant for now and the future. We also commission the equipment our company wrote the programming for. We dabble a little in other software needed to support our equipment (Movitools/Simotion/Lenze L-force engineer to E&H, Vega, etc). We're not exactly required to turn wrenches or physically work on things, but its not beyond our position to adjust sensors, photoeyes, etc in the absence of an electrician to "just get the machine up."
Currently I'm a Salary (OT Exempt) employee. I get no written benefit of COMP time (but our manager is tracking out OT hours to use as comp time), no bonuses, and per HR if we work fewer than 40hrs a week we are supposed to be docked pay. My question to you is: What is your typical salary structure (no $ figures, just if your hourly, salary non-exempt, salary exempt, paid in bananas and bitcoin, etc) and/or what benefits do you receive in your role?
I know there's some freelance guys in here, or traveling guys that work for a central hub to provide controls support. My question though is more for the controls engineers/technicians in a M-F gig. However, other folks in the sub may be curious, so please clarify your role if you answer.
Thank you for your input.
submitted by Mangonesailor to PLC [link] [comments]

Why Amaury's stunt is clever, why it's a potentially recurring problem, and what can be done about it

TLDR: this isn't an Amaury problem, it's an incentive problem. If BCH splits and the ABC token retains even some residual value, then we're likely to see future "IFP splits" in other tokens and possibly BCH again.
Here's my take on The Amaury Situation.
I think he wants to get out of dealing with BCH and leading the ABC team. I think he's over it. I think he wants to go do something different.
He could quit and walk away. But why do that, when he could create a perpetual income stream for himself as well?
"Dead" coins hold value
A lot of people here seem to think the ABC split will be worthless. I disagree. It will have significant value:
Let's assume ABC is only worth $20. Even under this assumption, Amaury stands to get $10 every ten minutes in perpetuity - for doing absolutely nothing. That's $60/hr. (x 24 hours, or $1440/day) in mail money. That's a decent wage - a perpetual income stream (annuity) - with literally no work required.
But I think $20 is super low. Tokens strangely hold value long after the token appears dead. For example LTC is still worth about $50 - and that's AFTER it's champion announced it was a dead project and all the devs left (and LTC is much less scarce than BCH). FFS even BSV is worth $150 and the entire cryptosphere agrees its a scamtoken run by a con artist.
If LTC and BSV can do it, so can ABC. I predict ABC token will hold significant value.
If the ABC token can hold $50/coin, then Amaury looks to collect $150/hr. (x24 hrs - $3600/day). If it can hold $100/coin, then Amaury gets $300/hr (x24 hrs - ie $7200/day).
But even if it drops to $10/token, he still gets $720 every day.
For doing nothing.
Why is this a problem
This is a serious problem with our incentives. If he succeeds, Amaury will have piloted a repeatable exit-scam recipe for any reference implementation.
"Tired of supporting your halfass token and ragtag devs? Here's an easy escape hatch! Just create a version that pays you a nice annuity, let the token split, and retire with your annuity."
That's the problem. Amaury doesn't have to keep the ticker. He just has to successfully split the token into two tradeable tokens, and he wins his annuity.
What can be done
I'm not sure. I want Amaury to lose here. I want him to get zero annuity. I want to send a clear signal to the next Amaury that splitting the token in order to collect your annuity is a losing strategy.
But I can't see how to accomplish this.
One way would be to attack his chain through reorgs. But there is no direct incentive for miners to do this. And I don't support the notion that "bitcoin works because miners attack chains they don't support."
Another would be to try to drive the value of his token to zero. But that's basically impossible. I think it will be very hard to drive the value of his token even to $20. And at even $20 he gets a nice little annuity. Not a get rich quick scheme by any stretch, but still, it'll pay for a nice mortgage. I know I wouldn't turn down the chance to get an extra grand per day of mail money. So even at $20/token, Amaury will have demonstrated that his easy retirement plan will work. We need $2/token if we want to declare his strategy an unqualified failure. We can't.
And the problem here is that if/when BCHN (or anyone else) becomes the reference client, then its leaders will have the exact same incentive to cause a split when they're tired of managing the project and want out.
Conclusion
Amaury has surfaced a possible gaping vulnerability in the incentive system which creates a perverse incentive to continually create "IFP" type splits. This vulnerability exists in all bitcoin-like tokens. Unless we can find a way to completely block Amaury from his expected revenue stream, he will be setting a precedence that we can expect to see repeated on other tokens and possibly even on BCH again one day.
Edit: I wanted to point out that dskloet has reminded us there is a third option, and that is that instead of allowing Amaury to split the coin, we can soft-fork ABC in such a way that ABC considers the blocks to be valid, but the IFP funds are unusable. The obvious way to do this (as dskloet pointed out) is to blacklist the IFP address. But blacklisting has its own consequences. Another way to do this might be to do something like make the coins sent to that address "unmovable" so that ABC clients will see the blocks paying to IFP and therefore valid, but he can't spend the money.
Edit: to clarify
What's the difference between blacklisting and making the coins unmovable? Isn't that exactly what blacklisting is?
Blacklisting means not accepting transactions from address X.
I propose instead sending "fake coins" to address X. Like putting slugs into a coin-op machine. The machine owner can still try to spend the slugs, but nobody will take them. But the machine owner can still spend any valid tokens spent in the machine.
submitted by jessquit to btc [link] [comments]

Robinhood vs. The Paywall

Paywalls are, technologically speaking, quite fragile. In fact, as of today, if you are quick enough at the keyboard, you can easily copy the full text of a New York Times article before the Javascript kicks in and trims it.
I do this sometimes and I have a fast machine and a fast internet connection, which should make it harder. Other sites are more clever, but for the most part, paywalls are still a bit of a joke.
However, they're getting a lot better and more prevalent. I can imagine that right now an engineer at NYT is working on a better paywall with no practical way of cheating it.
All that aside, an article is just a piece of ordered text and some formatting, and I don't see that changing any time soon. Once you're past the paywall, the text just sits there in your browser, or in your email, or whatever. It can be viewed, copied, pasted, or read by a 3rd party extension.
What would it take, practically speaking, to "Robinhood" that text and make it freely available to everyone whether or not they've paid for it? There are numerous ways to access paywalled content today, which I won't share but aren't hard to find. But I'm interested in whether or not there is a solution that is so robust that it backs publishers into a corner where they need to find another way to make money. And when I say "robust" I mostly mean "legal", because I am assuming that any illegal method would ultimately lose out in a game of legal whack-a-mole (think torrent trackers or darknet markets).
Anyways, some initial considerations...
  1. You'd have to have at least one participant who has access to the paywalled content, but ideally many more than that who can all participate in tossing the content back over the paywall.
  2. You would need to have an immutable and accessible place to put the paywalled content so that other people could point their browsers to that location and see the same content that they would if they were looking at the source.
  3. As noted, you'd want to eliminate as much legal risk as possible. That goes for both the content "suppliers" and the content "consumers" (or, Robinhood and those he gives to).
I am not sure exactly what would happen if I just started copying and pasting paywalled content on, say, Reddit, but I am pretty sure it would catch up with me eventually because I am explicitly re-publishing. This solution would need to be so foolproof that it would put those who would otherwise enforce against it in an untenable position.
So, bear with me, here's what I want to know: how flawed, immoral, antisocial, and generally lacking is the following idea? My suspicion is that it is a pretty bad idea and is also pretty naive, but it's still been fun to think about and maybe some of you would like to discuss it. I am interested in any implications that come to mind.
~
The idea:
If you want to participate in this scheme, you install a browser extension. If you have access to any paywalled content, then every time you visit a page and view that content, the browser extension grabs the text and compresses it to its smallest possible representation.
Next, the browser extension make the smallest possible arbitrary transaction on the blockchain (looks to be about $0.06 currently), and stores as much of the article as it can fit in the OP_RETURN field, which is basically just a blank field for arbitrary text and currently has a size limit of 256 bytes (Note: There are tons of similar ways to accomplish the same thing, any many better blockchains for this use case. I just don't really keep up with the smaller blockchains and think that we can use the Bitcoin blockchain as a simple way to demonstrate the idea).
It may take a few transactions to store an entire article, but once it's part of the blockchain, it's there forever, and anyone who would want to subsequently view that article would only need to have access to the indices of the transactions and software that can de-compress the OP_RETURN values and reconstruct the article. I imagine this would also happen in the browser extension.
In this way, it's a lot like private torrent trackers. Everybody shares what they have access to, and the pieces of data that comprise the underlying media fly around the network freely. The software client is responsible for piecing them together and making the data cohesive for a given end user.
Today, a torrent client is completely legal, but having pirated media on your computer is not. Also, I'm pretty sure that opening your media collection to peers is also illegal, but I'm not actually sure.
Using the blockchain as the storage mechanism changes the calculus a little bit. You're not storing any pirated data on your machine, rather, you are stashing bits and pieces of it in a decentralized ledger, which nobody owns, meaning that nobody is really accountable for it. It's also impossible to take down.
The question of legality here is something like "are you allowed to include copyrighted works in transaction text on the blockchain?". And if not, how many chunks would the article need to be broken apart into to make it no long "The Article", but rather just pieces of arbitrary data which, if put together in the right order, would happen to reproduce "The Article"? Someone who is more knowledgable than I am would need to chime in here.
~
I wanted to get a sense of if this is even practical so I grabbed the text from a NYT article called "Opinion | No, the Democrats Haven’t Gone Over the Edge" by David Brooks.
After running the text through 1000 rounds of compression I got it down to 2702 bytes. The current OP_RETURN size limit for a BTC transaction is 256 bytes, so you would need to make around 10 transactions to store this single article.
And each transaction has a fee that goes to miners, which appears to be around 128 satoshis/byte according to https://privacypros.io/tools/bitcoin-fee-estimato
The BTC sent in a given transaction is recoverable, because it could be sent to a wallet that is owned by the sender, but the fees are unavoidable. Given the current rate, storing a NYT Opinion article on the Bitcoin blockchain, forever, would cost about 2707 * 128 Satoshis, or roughly $37.
So my immediate thought is wow that's expensive. I also know that it's frowned upon by the Bitcoin community and would be perceived as antagonistic by the miners. But my guess is that there's a better way to accomplish the same thing (again, off-chain transactions or using a totally different blockchain such as Ethereum, or BSV).
In fact, in "The unfuckening of OP_RETURN", Shadders shows that one can practically store up to 100kb of text in a given BSV transaction (BSV is a fork of bitcoin, which aims to align more with Satoshi's "original" vision).
The result of Shadders experiment? Well, here's the complete prequel to "Alice and Wonderland" in a single transaction, on the blockchain, forever: https://whatsonchain.com/tx/ef21e71d00b9fce174222e679640b09e29ac8a55f321c93e64b16cc3109959f8
Good thing Alice and Wonderland is in the public domain, right? Or... should it even matter what's "public" and what's "paywalled"?
What do you think?
submitted by mrctte to TheMotte [link] [comments]

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How to Use a Bitcoin ATM - YouTube

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