Vitalik Buterin, _Proof of Stake_, Pt 2, "On Colusion", p. 157
I've been reading this series of essays by the founder of #Ethereum (also formerly involved with #Bitcoin magazine). They're good reading, with lots of theory discussed by someone much more well-read than I. I love the way he quickly dismisses finance as the primary target of #cryptocurrencies and #blockchains, instead conceiving of a virtualized and distributed computer ... and the way he intently focuses on the costs and benefits of distributed networks and governance systems.
Note: I still own zero of any cryptocurrencies, despite my belief that minority communities in particular should transact part of their business that way.
My answer (not available in the chat, because I'm not a member):
I don't specifically care about the method (cryptographically signed blocks of transactions, chained together via a consensus algorithm), but I care about breaking people free from the control of banksters and believe that should be a priority for all of us.
That is why I care about #Bitcoin, #Ethereum and similar currencies.
> Ethereum co-founder Vitalik Buterin has hailed the London hard fork a success adding that it has given him more confidence over the upcoming merge to the Eth 2.0 chain.
> Speaking to Bloomberg News from Singapore, Buterin said that EIP-1559 is “definitely the most important part of London.” The upgrade, which went live around 15 hours ago, has tweaked the fee generation mechanism resulting in a portion of the fees being burnt.
It looks like the change from #PoW (proof-of-work) to #PoS (proof-of-stake) is proceeding well, though it is taking longer than originally expected. I knew a guy three years ago who tried to sell me his #Ethereum #cryptocurrency mining rig because he was convinced that the PoS switch would happen rapidly.
I don't know whether the "London" upgrade is considered a major upgrade or a point release. I do know that the "OpenEthereum" client will be deprecated once London happens. London follows April's "Berlin" release.
This is probably great, but it is way too long. I'm using listen for half an hour, then pause and go do something else. But I can't promise I'll be able to continue all the way through.
"Bankless" has a series of videos, but this is the only one I've listened to.
But I’m not pretending that I can time the market, so I’m not looking to buy something that will rise high enough to make me a millionaire. I’m looking at them as a medium of exchange, a means to facilitate purchases and sales. At this point, I’m not looking at them as a store of value, and certainly not as an investment.
Despite my insistence in conversations with #sonTwo that he should likewise consider cryptocurrency only as a means to purchase things, his father-in-law has been reading about sky-high #BTC prices and is putting up a small amount of money to get started investing in #cryptocurrency.