Bitcoin Documentary featuring Jeff Berwick, Roger Ver and others (and an idea for scaling from a programmer)
Interesting new bitcoin documentary that puts bitcoin in a favorable light.
There will be a lot of rising tension in governments around the world over this issue as equity drains from national fiat into cryptocurrencies like bitcoin. China has already effectively "banned" bitcoin to practically no effect. Several other countries have tried various legal measures to stop it, but it's like a hole in the wall of a dam. In 2009 that was a pin-prick, but it's grown in size. Soon it will be a flood.
If you want change, this is how you do it. You've been given the vote, but the choices put before you are largely meaningless while the most important control over you is untouched (money). Unlimited money is unlimited political power, but limited money is limited political power. If bitcoin becomes the world's reserve currency, that will put a stop to the military industrial complex, the world wars and wealth will begin to decentralize.
The next few years are going to be absolutely critical in determining which future we end up in. If people are too scared and abandon bitcoin because governments hold guns to your head, then the future will be a digital panopticon (big brother on steroids) and we will still be enslaved for a time. However, this cannot last forever because centralized data structures are fatally flawed. It's only a matter of time before we end up with a future more like Star Trek.
I had an idea for scaling while reading Mastering Bitcoin. I doubt that I'm the first to think of this, but one of the ways that computers overcame limited RAM was by overclocking. Analogously this would be the same as shortening the 10 minute time frame for block writing to something like 5 minutes, 2.5 minutes, etc. Of course, one would have to reduce the difficulty of the hash nonce by changing the number of zeros in front.
Perhaps there's an important reason for why this isn't a good solution (probably sacrifices security in some way), but if blocks are being processed faster, it would also require greater processing power to undo previous blocks for a double spend. Perhaps one of you out there can explain why this approach hasn't been proposed (to my knowledge).
Donations (public bitcoin address):
3FwxQsa7gmQ7c1GXJyvDTqmT6CM3mMEgcv
Quite educative documentary about bitcoin.
img credz: pixabay.com
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