Skip to main content

Could bitcoin mining lead to exploring internet bandwidth issues?

Highly recommend the original white paper on crypto written by Bitcoin creator Satoshi Nakamoto: https://bitcoin.org/bitcoin.pdf Short read, not too much math, extremely well written and describes in depth not only the motivation and design, but potential vulnerabilities and why they are not practical threats. One interesting problem not addressed is explosive growth in block size. Recall that: - blocks are limited to one every ~10 mins by self adjusting difficulty - blocks must contain all transactions from previous 10 minutes Currently we are doing about 400k transactions per day, and one block = ~1MB. If we assume transaction count is roughly proportional to the amount of people using the currency, we could see 100x or 1000x growth in transaction volume. So we're looking at 100mb or 1GB blocks. This would create a bandwidth issue, every node has to download 1GB every 10 minutes, there would be propagation delays. I don't think this is a huge problem - networks are getting faster, but this problem is not addressed in the white paper. He does talk about tree pruning of historical blocks. One thing I'm not clear on, do miners just grab the hash from a node, or do they grab the entire transaction set? For example see the world transaction rate growth since inception, and pay attention to the explosive rate of growth in the past month. https://blockchain.info/charts/n-transactions?timespan=all

Comments

Popular posts from this blog

THE COPA CIRRUS SR22 PERFORMANCE REPORT

About this report This report was generated from data collected from 160 active COPA SR22 pilots. You can see the original survey here: http://tinyurl.com/sr22cruisesurvey . You can download PDF . Table of Contents What you will get out of this report Who were the pilots behind this survey What aircraft are counted in the survey Actual cruise speed and fuel flow Fuel flow vs TAS for NA lean of peak operations What is the most efficient altitude for NA SR22? Turbo SR22 performance at high and low altitudes Are TKS/FIKI planes slower? What is the fastest NA SR22 by generation? Who gets the best range? Are high hour NA SR22 engines slower and do they burn more fuel? How do LoP vs RoP performance compare? POH vs actual performance for NA Who is the fastest SR22? Conclusion About the author Frequently asked questions What you will get out of this report This report is for SR22 owners and buyers. How your SR22 performs compared to other SR22s How altitude affects perfo...

Why a SR22 leaseback is the worst financial decision an airplane owner can make

Airplane leaseback seem like a really good idea - your airplane becomes a business, generates income, which pays for maintenance, insurance, storage, and might even put a few bucks in your pocket. You'll hear this from flight schools, FBOs, airplane brokers and airplane manufacturers. The proposal I received for leaseback on my own plane looked very good, $72,000 income per year! The ugly truth is you leasebacks are a terrible financial decision. You're better off to park your plane in a hangar and not fly it at all. This was the proposal I received: Profit calculation for G2 SR22 in KFRG $300/hr rental rate -20% management fee $60 $240/hr income 300 hrs flown = $72,000 income per year First, there are some baseline increases due to more expensive commercial insurance and higher cost tiedown and required maintenance. These numbers are for an SR22 that was to be based out of KFRG. Annual fixed-cost increases to go to the flight school Flight sch...

How to configure engine power 55%, 65%, 75% on Piper Archer / Piper Cherokee

Most pilots, even CFIs, don't understand how to properly configure engine for various altitudes on a simple Piper Archer. The advice of "full rich below 3000" is simply wrong. Below is a simplified procedure based on the POH. It will ensure better performance, longer range, and longer engine life. The advice of "lean until running rough, then add some" is better, but still imprecise.  First, see POH section 4.27 CRUISING on how to configure engine. Simplified procedures Climb Mixture, throttle full forward Note the EGT temperature just after takeoff As you climb EGT will drop (too rich). Every 500 or 1000', lean mixture slightly to raise EGT back to the temperature you noted on takeoff.  DO NOT allow temperature to get higher than this! At 6000' lean much more to get peak EGT. Note the temperature. Every 600 or 1000' above 6000' are-lean mixture to get back to peak EGT. Best Power Cruise (fly fast): Mixture, th...