RAYZER'S WET DREAM COME TRUE: BITCOIN CRASHES LOL

[grarpamp]

On Fri, Dec 22, 2017 at 6:48 PM, John Newman <jnn at synfin.org> wrote:
> A brief point... The whole proof of work calculation that is done
> in the process of Bitcoin activity would be far more
> interesting if it did something useful. I suppose this is
> much easier said than done - how do you precisely
> quantify "useful work" (eg crunching data on the genome,
> on folding proteins, on SETI, etc)...

> Are there are any digital currencies working in this
> direction?

Maybe there are some, try searching bitcointalk.
Does breeding virtual crypto kitties qualify / useful?

> Is it even feasible?

Maybe, so long as the work being computed over is decentrally sourced
like bitcoin transactions are.
ie: You can't trust big pharma or even seti at home to not eventually corrupt
say the flow of work source units to eventually preferential /
adversarial to you
entities.
However it is conceivable that every miner could downlink the random sky of the
universe through their own personally owned satellite dishes / RTL-SDR
units into
a cooperative long baseline shared data distribution mesh and somehow crunch
away at that with its unit verification by peers being the proof of
work upon which
blocks ride. Yet still, unless you have a way around cryptanalysis / easy attack
that SHA-256 and the other hard crypto were instituted to prevent?... no savings
there, you'd just be computing two things on one chain, which could wind up
with one endeavour being felt pointless, thus taking down the other for being
suboptimal waste, unless you could plugin other crap like over ETH.
Maybe you can design one.

> I take only a mild interest in Bitcoin having sold (used, actually) a number of coins at $400-$600 a couple years
> ago and feeling foolish now

So long as cryptocurrency remains unstoppable under various remaining
and hopefully increasing freedoms, and up till the time it reaches forex
capital flow equilibrium with any remaining fiat currencies, it will be on sale,
and probably quite profitable and world changing compared to other
investments. Most seem to say a 5-10% allocation towards crypto would
not be foolish, even up against any risk of total loss. Over 8+ years since
the first of many Genesis says that won't happen. Hodling says you can
say you were there for the next 8.