book progress

[reddragdiva]

I just spent 7 hours today doing nothing but going through the blog (good Lord I post a lot) and noting down stuff that would be on topic for the second blockchain book. It's been a heck of a year, hasn't it. Soooo we'll see if I get to these any time soon. I have 4000 words of notes and my goodness there are so many stories to tell. The working title is now "A Buttful of Fistcoins," just to make sure I definitely cannot use it.

Things I should do this long weekend:

• Similar hours of notes for "Roko's Basilisk", or perhaps some prospective text
  • Robin Hanson made a dick of himself in public, so I'll probably have to at least mention him, and now I probably also have to read 10 years' Overcoming Bias
  • Hanson thinks the Journal of Cosmology is a legit scientific source, holy shit
• Script for a prospective audio book. I need to do Intro and ch 2, and note glitches in the reading of ch 1.
• My own accounts to some degree, then they might be in usable order by January.
• A ton of house stuff and stuff, the place is a pit. Tidy, change sheets, you know.
• Start yet more mead off.

Things I am doing this weekend:

• Reading books. So many books. I have Kindle Unlimited and I'm hitting the self-published punk rock books hard.
• Reading Worm fanfic, because there is little better to waste hours upon.
• Eating things that disagree with me 'cos I like them.
• Sleeping more. I remember sleep patterns.

You?

Comments

[pndc]

Given that working title, have you considered doing a collaboration with Chuck Tingle?

[lovingboth]

I have thoroughly enjoyed the blog, thank you.

What I haven't spotted anywhere is a discussion on what happens when all the bitcoins have been mined. Instead of getting something that they might, possibly, be able to sell for $$$s and a transaction fee, miners will just get the transaction fee.

So.. are they going to shrug their collective shoulders at their income falling off a cliff and keep going despite the electricity and hardware costs? A big chunk of them stop mining, leaving it vastly easier for anyone staying to own 51% of the mining? Make transaction fees go through the roof?

None of them seems good for bitcoin, but then I thought it was overrated when it got to $1.

[reddragdiva]

The idea was it would go to a "fee market", where miners made money off transaction fees.

There's a lot of obvious consequences to this, but none of them were considered because everything about bitcoin is ad-hoc, ill-thought-out, frankly delusional or all three.

December 2017 - with average transaction fee of $55 - was a taste of it.

What happened in practice was that all the legitimate merchants disappeared - even the ones who had a payment use case for bitcoin - and the darknets moved to other cryptos that weren't clogged to uselessness.

Everything about bitcoin is a multilayered fractal lasagna of stupidity.