jezhiggins + blockchain   172

Wei Dai - Wikipedia
Creator of b-money, a bitcoin prevursor
blockchain 
5 weeks ago by jezhiggins
[1902.07254] The Shutdown Problem: How Does a Blockchain System End?
We define and examine the shutdown problem for blockchain systems: how to gracefully end the system's operation at the end of its useful life. A particular focus is those blockchain systems that hold archival data of long-lived interest. We outline what it means to achieve a successful shutdown, and compare those criteria to likely end-of-life conditions in a generic blockchain system. We conclude that the decentralized nature of blockchain systems makes shutdown difficult, particularly if the system uses an unstable consensus like the Nakamoto consensus of Bitcoin. Accordingly, we recommend against using blockchain with unstable consensus for any data whose value is likely to persist beyond the life of the blockchain system. For any such systems that are already in operation, we recommend considering a hard fork to implement stable consensus. Such consideration needs to happen well in advance of the system's end of life.
blockchain 
7 weeks ago by jezhiggins
Accepting Bitcoin as a Small Business - 4 Years In - Seymour Locksmiths
We decided to put this theory to the test. In September 2014 we officially started accepting Bitcoin for all of our locksmithing services, shortly afterwards we also starting accepting Dash. Since that day over four years ago and the time of writing, we have not had one customer ask to pay in Bitcoin, Dash or any other cryptocurrency.
blockchain 
7 weeks ago by jezhiggins
Bitcoin is Processing Fewer Payments Per Month Than It Was in 2016 - Longhash
Although many venture capitalists in Silicon Valley were promoting the use of Bitcoin for payments more than anything else in the early days of the network, it has become clear that the store of value use case is the main aspect of the technology gaining consumer adoption right now.

A decent number of merchants have decided to remove the option to pay via Bitcoin since the small bubble in merchant adoption back in 2014, and evidence of the lack of growth in retail payments these days can be seen directly on the Bitcoin blockchain.
blockchain 
7 weeks ago by jezhiggins
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