Mining civ crypto
Unclaimed property laws are the vehicle by which the state takes control of untouched tangible and intangible property as its custodian until the true owner reemerges. This Note argues that RUUPA is inadequate in its language surrounding virtual currencies and will result in unclear administration by implementing states, which will inevitably lead to complex and contentious litigation. Part II reviews the background and common-law roots of American unclaimed property law as well as the characteristics that make Bitcoin and other cryptocurrencies unique. Part IV discusses a solution to this problem, including clearer language that relates explicitly to cryptocurrency and increased technological capabilities in states who want to include these assets in their unclaimed property law. In the past decade, states have begun to amend their unclaimed property laws to allow the state to take control of unclaimed cryptocurrency.
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Content:
- crypto fully diluted market cap
- In Defense of Power-Hungry Services (That Aren’t Bitcoin)
- Does AMD need to announce its own GPU hashrate limiter to combat cryptocurrency mining?
- How Long Would It Take to Mine Bitcoin by Hand?
- Bitcoin may consume as much energy as all data centers globally
- Bitcoin: Can This Be The First Digital Ponzi Scheme in History?
- What makes Bitcoin valuable, is it like gold or fiat currency? Here is your answer
- The Actual Impact Of Bitcoin On War
crypto fully diluted market cap
As bitcoin has appreciated and seen increased global adoption, it has emerged as a macroeconomically relevant phenomenon. This has turned formerly theoretical debates into live, practical questions on how Bitcoin will affect geopolitical relations. The current balance of global power is defined by complex arrangements of military alliances, trade flows, ethnic and religious affinity, cultural influence, linguistic agreement, and, of course, national borders. And yet, we can still, and increasingly must, analyze the question of violence — especially state violence — in a future world order where Bitcoin is a major, if not the dominant, economic and political force.
Some reason that Bitcoin will positively adjust the calculus of violence by which states decide how and where to project power and secure their respective interests. By shifting a large portion of national wealth from easily seized and vulnerable tangible assets into digital form, the incentives to violent conflict — as a means of confiscating this wealth — are substantially reduced.
This moves the locus of inter-state conflict from the battlefield to the global, competitive mining market. Real wars become hash wars, and the negative externalities of the former death and destruction are replaced by the positive externalities of the latter energy efficient computation and power generation.
While this is well-reasoned and accords with the likely directional influence of Bitcoin on state competition, it is overly simplistic and incomplete. For human conflict exists on a spectrum: from soft power influence and psychological operations psyops , gray zone subversion, and deniable covert action or sabotage to more overt forms of military violence via stand-off strikes, large-scale invasion, and in the escalatory limit all-out nuclear war.
To claim Bitcoin will usher in an era of enduring world peace is to argue that it will eliminate all of these long-enduring sources and methods of human conflict. It is possible it will, but there are contrary forces at play that must not be overlooked. Considering the full set of relevant factors, a more reasonable thesis to hold is one in which Bitcoin may constrain certain forms of large-scale, expensive conventional war, but may not on net materially reduce human conflict or substantially constrain state violence.
One can argue that all property claims, when it comes down to it, are enforced via violence or the threat thereof. If Bitcoin succeeds in transposing most property claims from a vulnerable physical form to a more easily protected digital bearer asset, then one may argue that bitcoin removes one potent locus of physical violence from the world: physical property.
So even if Bitcoin succeeds in reducing one driver of war, one may not feel confident in the claim that Bitcoin fixes all, or even the dominant, drivers of war.
One can imagine a world that has fully adopted a Bitcoin standard, but in which zero-day exploits in critical enterprise software and industrial control systems are found and deployed by teenage Minecraft players, autonomous drone-swarms are built and launched by hobbyists for a few hundred dollars, a disaffected postdoc cooks up synthetic viruses in his garage laboratory, and AI-bot armies execute continuous psyops campaigns against target populations.
At a different scale, once bitcoin becomes a globally-adopted neutral reserve asset, protection of domestic mining operations tightly integrated into energy grids becomes a national security issue. While mining firms within each nation will likely be regulated into coopetitive arrangements that dissuade disorderly sabotage, no such constraints will exist between states.
This will manifest first in sophisticated corporate espionage and sabotage operations, likely involving the same sorts of firms which now hire armies of ex-intelligence and military professionals to conduct all sorts of unsavory activities around the world. As is the case with strategically important industries today, these types of activities tend to fuse with state intelligence services.
Bitcoin mining may become a strategically important industry, if not the most important such industry in the most geopolitically powerful and relevant nations. Thus, it should not be surprising if we come to see state intelligence agencies brought into service to protect domestic mining operations and develop offensive capabilities to threaten their global competitors. Given the interconnection of these mining operations with regional energy production and grid networks, this will compound the existing risks states face in protecting against cyberattacks and disruption to critical infrastructure.
However, the lessons from the current spate of cyber-incidents is that the offense is inherently advantaged over defense in these types of digital environments. It could be the case that the direct, substantial incentive that Bitcoin provides energy owners to protect their networks will finally focus attention on basic cyber-hygiene, insider-threat mitigation, and effective business continuity activities, but this is more a hope than a rational expectation.
While beyond the scope of this essay to fully analyze, it is plausible that bitcoin, if adopted as the primary global neutral reserve asset, will constrain but not eliminate most forms of national debt finance. Note that it is likely that before it reaches equilibrium adoption as a unit of account which could be a very long ways away , bitcoin will spend a substantial period of time as a reserve asset taking increasingly dominant share of similar assets in its store of value function and somewhat as a medium of exchange vehicle to settle large balances between institutions and governments and in jurisdictions which have adopted it as legal tender.
Note that this will likely be a much more constrained form of debt finance than we currently see, though it is hard to estimate this precisely. This is because war especially in the form near-future technology will enable may not be that expensive to prosecute.
As we saw above, the exponential effect of technological deflation partly enabled by bitcoin shifting investor time preference and raising the hurdle rate for productive capital investment will accelerate the trend already underway to radically cheap, but asymmetrically effective weapons.
National defense strategies among the most geopolitically significant states will plausibly evolve towards a barbell strategy that combines irregular warfare capabilities with nuclear deterrence. The most expensive parts of national defense budgets derive from having to pay, train, equip, supply, transport, and provide medical benefits to human soldiers, and to construct manned platforms e.
The next few decades will see a shift towards autonomous and unmanned weapons systems and cyber-enabled electronic warfare to deny, disrupt, and destroy similar adversary systems.
One perverse effect of the very power of nuclear weapons is the creation of deterrence voids for non-nuke threshold conflict, especially in deniable or gray-zone domains. As the capabilities to cheaply execute effective operations in these domains increases, the incentive to do so, while knowing the nuclear threshold sits high above, will be strong for many states.
One can imagine revanchist regimes or those disposed to take special advantage of newly affordable weapons systems to prosecute long-awaited grievances or secure what they may see as marginal, and increasingly perishable, military superiority. For example, the Nagorno-Karabakh war saw Azerbaijan combine drone technology and long-range sensors to direct precision fires that dominated the battlefield and decisively tipped the scales in a decades-long conflict.
These capabilities would have been out of reach just a few years ago, but were made affordable to such a small state by the deflationary impact of technological progress.
But this seems unlikely, especially if the technology deflation continues to make them ever cheaper, and while the world remains a contested, finite geography riven by historically embedded lines of division and political heterogeneity. II States will likely continue to sustain and expand world-ending nuclear capabilities, even under a Bitcoin standard, merely as a result of the locked-in logic of deterrence. The one military technology where states are likely to be less cost sensitive are nuclear weapons.
The existential consequences of nuclear weapons will continue to hang like a sword of Damocles over humanity until we reach some as yet unenvisioned plane of enlightenment that ushers in enduring global accord. Until that time, we will require that states invest whatever is necessary in order to maintain extremely secure and reliable nuclear command, control, and communications NC3 systems. While our constitution vests the Commander in Chief CiC executive powers over the armed forces, it formally remands the authority to declare war with the Congress.
The time-scales of nuclear war, however, render all of that moot. Given the precious few minutes between launch detection and detonation, the CiC is given sole and unchallenged authority to issue counter-strike orders, able to select from a menu of pre-selected target packages defined in the Single Integrated Operational Plan.
This nuclear SIOP is designed explicitly to convince our nuclear adversaries that a devastating retaliatory strike is guaranteed, a deterrence logic captured by the dictum of mutually assured destruction. The fraught stability of this system courted catastrophe several times during the Cold War, and that era was comparatively simple from a game-theoretic perspective.
As more and less stable states continue to nuclearize, the dynamics of multi-party deterrence becomes dangerously unpredictable. B61 bomb to mega-weapons e. Now, you may be asking why this excursion on nuclear weapons.
Well, if the question at issue is the degree to which Bitcoin may constrain state violence, and war in particular, it seems to me absolutely imperative to recognize the deeply embedded present system of nuclear deterrence. Humble Bitcoiners must reconcile themselves to this unfortunate reality, and hope that the enlightened Bitcoiner leaders of the future will dedicate themselves to reinvigorate the failed non-proliferation, denuclearization, and arms-reduction efforts of our current politicians.
III Bitcoin fixes a lot of things, but war is unlikely to be one of them at least for the foreseeable future. More fundamentally, human conflict isn't always or even mostly motivated to directly seize monetary wealth.
We fight each other for many reasons, including over scarce assets e. In the "long-run," one can, possibly, envision a utopia of abundance where all conceivable axes of human conflict have been eliminated or mitigated. But this seems so far off as to distract from the more likely practical scenarios we must navigate in the decades ahead.
Bitcoin as a bearer asset presents immense benefits as well as security challenges for individual holders. These will scale with the scale of adoption. Right now, national governments substantially invest in securing domestic critical infrastructure — especially the financial system and its centralized, interconnected digital ledgers — from cyberattack, insider exploitation, theft, sabotage, and natural hazard disruption. If you don't believe the combined intelligence and defense capabilities of the world's remaining, likely most powerful states will not invest in forms of violence, compellence, theft, sabotage, and manipulation to undercut their rival's economic stability, I encourage more "adversarial thinking.
The precise outlines of the future state of geopolitical competition in a Bitcoin standard are hard to foresee. Exactly how the incentives of Bitcoin mining and national reserve adoption may affect the calculus of inter-state violence is unknowable.
Still, we can reason and explore the parameter space of possibilities given present conditions and projected trends. There are good reasons to believe that Bitcoin may reduce the incentive for large-scale, conventional war and imperial-style occupations. At the same time, such forms of state violence may become outmoded regardless of Bitcoin due to the dramatic improvement in weapons technology to asymptotically project power with relatively little cost. Further, the posture of nuclear forces — and the taught logic of deterrence we rely on to prevent their use — will likely be entirely unchanged by Bitcoin at least for the foreseeable future.
Where does this leave us on the question of Bitcoin and war? This is no fault of Bitcoin, which promises a great reformation and improvement in many critical aspects of our civilization. Rather, this is merely a statement that, for all its power, Bitcoin is unlikely to change in our lifetimes, at least inherent aspects of the human condition, existing as we are on a finite planet, burdened by the frailties of nature and our fraught history.
Bitcoin is a net good for humanity, and especially good for those states that recognize its virtues before others. Bitcoin fixes a lot of things, and these should be explained clearly and proclaimed proudly, to all who wish to hear. For all its promise however, Bitcoin is unlikely to fix war. Until it does, stay humble and stack sats.
This is a guest post by Matthew Pines. Press Releases. By Tyler Parks. By Sebastian Bunney. By Phil Gibson. By Stackmore. By Anda Usman. By Wilbrrrr Wrong. By Mark Goodwin. By Aleksandar Svetski. By Mike Hobart. By Alex Gladstein. By Guillaume Girard. By Andrea Steffanoni. See More.
In Defense of Power-Hungry Services (That Aren’t Bitcoin)
Our country is blessed with limitless natural resources, giant oceans protecting us on the left and right, and friendly neighbors to the north and south. What will continue to make the U. What will keep our money secure? Our departure from the gold standard is a recent phenomenon, and the unprecedented money printing by developed nations even more so. President Nixon thundered these words on December 18, , in a surprise weekend national address announcing the Smithsonian Agreement.
Does AMD need to announce its own GPU hashrate limiter to combat cryptocurrency mining?
Mining cryptocurrency is a power intensive business, with big operations hoarding ASIC rigs and high-end GPUs in an endless quest for world domination money. The Bitcoin-mining Game Boy from [stacksmashing] is one of them. Video, embedded below. The hack is relatively straightforward. The Game Boy runs custom software off a flash cart, which runs the SHA hash algorithm on incoming data from the PC and reports results back to the PC which communicates with the Bitcoin network. For the technically experienced, everything you need to know to recreate the project is there. While the Game Boy manages just 0. This is actually not a joke. I saw this on the radar a few days ago before HaD ran up an article. This is a joke but a much more sophisticated and wonderful one.
How Long Would It Take to Mine Bitcoin by Hand?
Programmer, author, podcaster, and all-around legend Jimmy Song made the pilgrimage to El Salvador. He wrote about his first impressions on his Bitcoin Tech Talk newsletter and his perspective deserves a place in the From The Ground series. Instead of going to the specifics, Jimmy Song used a wide lens and detached himself from the situation. What are the Salvadorans feeling as Bitcoin inevitably transforms their country?
Bitcoin may consume as much energy as all data centers globally
It is primarily used as a form of currency and replaces the resource gold from previous titles in the series. Coin can be found and acquired through a large number of ways, some depending on the civilization that a player chooses. Coin can be mined from four different types of deposits. To mine coin, all a player has to do is task a Villager or any other resource gathering unit on the mine and the unit will automatically mine from it. Gathering rates can be improved with Market upgrades and Home City shipments.
Bitcoin: Can This Be The First Digital Ponzi Scheme in History?
Corporates investing in crypto has been saved. Corporates investing in crypto has been removed. An Article Titled Corporates investing in crypto already exists in Saved items. More and more operating companies have begun allocating cash to digital assets and crypto currencies. This is a new dynamic and a departure from more conventional investing by funds and others in this space.
What makes Bitcoin valuable, is it like gold or fiat currency? Here is your answer
Bitcoin is a decentralized, digital currency. It was invented by a mysterious individual known by the handle, Satoshi Nakamoto. But where the hell do bitcoins come from anyway? Ken Shirriff is the hero of this story.
The Actual Impact Of Bitcoin On War
Around The Block With Jefferson. And last we talk. Thanks for having me again on your podcast, very excited to be here. Jefferson: Yes, thanks for being back on my show.
This allows for new features, such as Proof-of-Location PoL. Don't see any GEO nearby? No Problem! This magnet will attract GEO to nearby places! Drop a Magnet What is GeoCoin about? GeoCoin has created a real life scavenger hunt where users are rewarded with cryptocurrency! Users are able to geo coin mining and drop GEO on to the map for others to collect in a fun blockchain gaming user experience powered by Ubiq.
Either way, one need only spend a short time in the right corners of Twitter and Reddit to witness the sort of factional competition usually reserved for politics, religion, and sports. He and others in this faction see Bitcoin as the only cryptocurrency with a future. In The Bitcoin Standard , Ammous presents something of a Bitcoin Maximalist Bible: a guide, from an Austrian school of economics point of view, to the historical context of the now famous white paper written by the mysterious Satoshi Nakamoto and to the economic characteristics of Bitcoin that make it so endearing to those who view it as sound money.
you are absolutely right