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Paypal Jumps Into Bitcoin With Both Feet

boldra Re:Can someone clarify the state of BitCoin? (134 comments)

You'll get lots of different opinions, but there are plenty of weaknesses 1. Mining is centralized, and there's no incentive to decentralization 2. Mining is quite wasteful 3. The block size is too small for high transaction volume. Solutions require more nodes, but as the blockchain grows running a node becomes more expensive. 4. The prices is too volatile 5. Bitcoins aren't fairly distributed. My main gripe is that the price of coins is dictated by the cost of mining them, and is not related to the cost of keeping the network secure. (https://bitcointalk.org/index.php?topic=600436.0) Despite all this, the increase in adoption in the last twelve months has been phenomenal. Many large retaillers (Expedia, Dell, Newgg) have started accepting bitcoin. Hundreds of ATMs have been rolled out. Numerous financial products featuring Bitcoin have been confirmed. So on the one hand, Bitcoin has some serious problems, but on the other hand, there are a lot of people with a lot of money interested in keeping it going.

about 3 months ago
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Correcting Misperceptions About Evolution

boldra Re:A modest proposal (838 comments)

Good, but I think if you really understand evolution, there's a chance you're going to want a bacteriophage instead of an antibiotic anyway.

more than 6 years ago

Submissions

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free energy demo melts

boldra boldra writes  |  more than 7 years ago

boldra (121319) writes " Steorn's perpetual motion engine (reported here yesterday) has apparently melted beyond repair. According to CEO Sean McCarthy:

Technical problems arose during the installation of the demonstration unit in the display case on Wednesday evening. These problems were primarily due to excessive heat from the lighting in the main display area. Attempts to replace those parts affected by the heat led to further failures and as a result we have to postpone the public demonstration until a future date.
They may have cheated thermodynamics, but they're still victims of Murphy!"

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