This week’s newsletter describes a proposed BIP for creating signed messages for non-legacy addresses and summarizes a discussion about provably burning small amounts of bitcoin for denial of service protection. Ugam Kamat explains how the proposed addition of schnorr signatures in segwit v1 does not remove the need for 바이낸스 ECDSA. Bluntly, the need for "education" everyone keeps talking about is primarily an excuse for their inability to create or articulate intuitive systems. Not far away, we can see a cluster of maybe two dozen cargo containers that Salcido has converted into mines, with transformers and cooling systems. Miehe still runs his original mine, a half-megawatt operation not far from the carwash. It’s true that many of the more alarming claims-for example, that by 2020, bitcoin mining will consume "as much electricity as the entire world does today," as the environmental website Grist recently suggested-are ridiculous: Even if the current bitcoin load grew a hundredfold, it would still represent less than 2 percent of total global power consumption. But Bolz, a longtime critic of cryptocurrency, says local concerns go beyond economics: Many residents he hears from aren’t keen to see so much public power sold to an industry whose chief product is, in their minds, of value only to speculators and criminals.
"I was trying to mimic as closely as possible in cyberspace the security and trust characteristics of gold, and chief among those is that it doesn’t depend on a trusted central authority," he says. "I mean, this is a conservative community, and they’re like, ‘What the hell’s wrong with dollars? "I think there’s a window here," Huffman says, "and it’s unknown how long that window will be open." Yet he, too, knows that any such talk will lead to criticism that the basin is yoking its future to a volatile sector that, for many, remains a chimera. Its real function, they say, is as a "store of value"-that is, an investment asset, like gold or company shares-except that, unlike these traditional assets, bitcoin has no real underlying economic value. The exchange has particularly strong volume in pairs like NEO/BTC, GAS/BTC, ETH/BTC, and BNB/BTC. The platform had earlier launched BTC contracts and claims to have already reached an all-time high daily trading volume of more than 370,000 BTC (approximately $2.7 Bn USD) in recent market s
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For that reason, Huffman argues that the basin should be actively recruiting more miners, even if it means importing power. Many also fear that the new mines will suck up so much of the power surplus that is currently exported that local rates will have to rise. More fundamentally, miners argue that the current boom is simply the first rough step to a much larger technological shift that the basin would do well to get into early on. Salcido says he’ll have 42 megawatts running by the end of the year and 150 megawatts by 2020. Carlson says his next step after his current build-out of 60 megawatts will be "in the hundreds" of megawatts. The next step is to install the actual binaries. There are concerns about the huge costs of new substations, transmission wires and other infrastructure necessary to accommodate these massive loads. For all the peril, others here see the bitcoin boom as a kind of necessary oppor
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Back in East Wenatchee, Miehe is giving me an impromptu tour of the epicenter of the basin’s boom. Now she’s giving up her ICE roles to run Bakkt. In the past year, miners have made inquiries or requests for power totaling two-thirds as much as the basin’s three county utilities now generate. By one estimate, the power now needed to mine a single coin would run the average household for 10 days. But his main job these days is managing hosting sites for other miners and connecting outsiders with insiders-and he’s OK with that. He’s still bullish on crypto, and on the basin’s long-term prospects. The counterargument is that the blockchain economy is still in its infancy. No new action items, but follow-up related to the following previously-published items is still recommended. Hillmann blamed a failure by law enforcement to submit a timely request via Binance’s web portal and then answer the exchange’s follow-up questions. Then there's the matter of keeping transactions authentic and safe from tampering. All of this suggests an obvious question: If the rules of Bitcoin can be changed, and have been changed, then how do rule changes happen?