A Quote by Balaji Srinivasan
Conceptually, we believe that embedded mining will ultimately establish bitcoin as a fundamental system resource on par with CPU, bandwidth, hard drive space, and RAM.
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Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21, we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol - and particularly in the industrial uses of bitcoin enabled by embedded mining.
There's such a magnitude of record taking. It's so exhaustive. Bandwidth and hard drive space are able to accommodate limitless capacities to take a record of anything and everything.
The bitcoin protocol is about mining bitcoin, not pricing bitcoin. There is nothing in the protocol about establishing a market price for bitcoin; you need a market for that, but what if all the exchange markets are shut down?
The future is about wings and wheels and new forms of space transportation, along with our deep-space ambition to set foot on another world in our solar system: Mars. I firmly believe we will establish permanence on that planet. And in reaching for that goal, we can cultivate commercial development of the moon, the asteroid belt, the Red Planet itself and beyond.
In the future, I expect to see bitcoin mining in places where electricity is free or cheap. You could put solar array in the Arizona desert attached to bitcoin miners, and instead of trying to ship that electricity all over world, you could ship Bitcoin all over the world.
Busy people all make the same mistake: they assume they are short on time, which of course, they are. But time is not their only scarce resource. They are also short on bandwidth. By bandwidth I mean basic cognitive resources - psychologists call them working memory and executive control - that we use in nearly every activity.
Some bitcoin users see the hard fork as in some ways violating their most fundamental values. I personally think these fundamental values, pushed to such extremes, are silly.
There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope.
DivX Plus Streaming is adaptive bit rate streaming solutions, which means it works by detecting a user bandwidth and CPU capacity in real time and adjusting the quality of the video stream accordingly.
Bitcoin is valuable as a currency because of the economic efficiencies the bitcoin network is already creating as transactions flow over it. As with the Internet, more applications will flourish which will make the bitcoin network, and thus bitcoin as a currency, valuable.
The gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous.
Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.
Any type of operating system that I wanted to be able to hack, I basically compromised the source code, copied it over to the university because I didn't have enough space on my 200 megabyte hard drive.
A basic is an introduction. A fundamental is a foundation. A fundamental is a premise, idea, or fact that an entire system arises from and is based on. A fundamental determines the shape of what arises from it, much as a foundation of a house dictates its layout. A basic is how you introduce people you are teaching to the system. It is a beginning concept, often simplified to assist learning. If a fundamental is the foundation, a basic is the front door to enter the system.
I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But I don't intend to sell the Bitcoin. I intend to hold it until there's a day where I can just use Bitcoin completely.
The content people have no clue. I mean, no clue. The cost of bandwidth is going down to nothing. And the size of hard drives is getting so big, and they're so cheap, that pretty soon you'll have every song you own on one hard drive. The content distribution industry is going to evaporate.
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