Knowledge Miners: Bitcoin’s Next Early Adopters
People often complain of the early adoption phase in Bitcoin’s early years, with the many people who had either mined the currency or bought a significant amount when the price was far cheaper. Yet mining the cryptocurrency and hedging the virtual money is not the only phase of early adoption within this new economy. In fact, as the currency is less than....
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Bitcoin promises extraordinary rewards to early adopters, should it go mainstream. The rewards are potentially far greater, for the earliest adopters, than could be achieved by starting a successful business. Nakamoto himself could end up by far richest person who has ever lived, and many others will end up in fabulous luxury just for mining on their laptops or spending miniscule amounts of money in 2009. Lots of people don’t like this prospect, often because they believe that a few individuals with extraordinary wealth is harmful to the social order. For example, Michel Bauwens of the P2P....
Today is Bitcoin’s Birthday. Satoshi Nakamoto released the Bitcoin Whitepaper eight years ago today, on October 31, 2008. At the time, many people who first read the paper became interested in the background technology, and several wanted to see it in a working state. It seems very few knew that was going to happen. Once Bitcoin launched in 2009, the....
Bitcoin’s price dropped by $30 this morning as market uncertainty increases due to an on-going closed door meeting between Bitcoin miners and Bitcoin Core developers. Details are sparse as no media representatives or independent observers have been invited to arguably the most important meeting in bitcoin’s almost eight-year history. What is known is that the meeting is attended by seven Chinese miners or representatives of mining companies and 20 Bitcoin Core/Lightning Network developers. No one has been invited from the Bitcoin Unlimited or Bitcoin Classic team as far as is known with....
Staking on Ethereum 2.0 is a business opportunity for early adopters in 2021.
Mining pool incentives are a double-edged concept, though. Miners are already rewarded for mining on the network, through the block reward. Quite a few interesting discussions are taking place in the Bitcoin ecosystem right now. Roger Ver, one of the few prominent early Bitcoin adopters, recently issued an interesting statement. He discussing upping the Bitcoin block reward from 12.5 BTC back to 25 BTC, by paying half out of his own pocket. An intriguing marketing idea for Bitcoin Classic, although it raises a fair few questions as well. To put this news into perspective, it is not....