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| author | Alex Mizrahi <alex.mizrahi@gmail.com> | 2014-10-25 22:08:05 +0300 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2014-10-25 19:08:12 +0000 |
| commit | c3003ad1e6b7dc4732198c2b382ebf86450e0b16 (patch) | |
| tree | 3ab13b0d040d5d32c49121a19cca179e3bfc0c33 | |
| parent | 97c4c1140a1501f0310a0221ca2f6b2e71ec4e7c (diff) | |
| download | pi-bitcoindev-c3003ad1e6b7dc4732198c2b382ebf86450e0b16.tar.gz pi-bitcoindev-c3003ad1e6b7dc4732198c2b382ebf86450e0b16.zip | |
Re: [Bitcoin-development] death by halving
| -rw-r--r-- | 34/3d9005a3260fc0f8d11ac2c0979d1f73a62ccd | 129 |
1 files changed, 129 insertions, 0 deletions
diff --git a/34/3d9005a3260fc0f8d11ac2c0979d1f73a62ccd b/34/3d9005a3260fc0f8d11ac2c0979d1f73a62ccd new file mode 100644 index 000000000..e9b9fe265 --- /dev/null +++ b/34/3d9005a3260fc0f8d11ac2c0979d1f73a62ccd @@ -0,0 +1,129 @@ +Received: from sog-mx-3.v43.ch3.sourceforge.com ([172.29.43.193] + helo=mx.sourceforge.net) + by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) + (envelope-from <alex.mizrahi@gmail.com>) id 1Xi6hA-00024j-AV + for bitcoin-development@lists.sourceforge.net; + Sat, 25 Oct 2014 19:08:12 +0000 +Received-SPF: pass (sog-mx-3.v43.ch3.sourceforge.com: domain of gmail.com + designates 209.85.214.181 as permitted sender) + client-ip=209.85.214.181; envelope-from=alex.mizrahi@gmail.com; + helo=mail-ob0-f181.google.com; +Received: from mail-ob0-f181.google.com ([209.85.214.181]) + by sog-mx-3.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) + (Exim 4.76) id 1Xi6h8-0006bt-KR + for bitcoin-development@lists.sourceforge.net; + Sat, 25 Oct 2014 19:08:12 +0000 +Received: by mail-ob0-f181.google.com with SMTP id uy5so391489obc.26 + for <bitcoin-development@lists.sourceforge.net>; + Sat, 25 Oct 2014 12:08:05 -0700 (PDT) +MIME-Version: 1.0 +X-Received: by 10.60.34.1 with SMTP id v1mr2240732oei.34.1414264085130; Sat, + 25 Oct 2014 12:08:05 -0700 (PDT) +Received: by 10.202.168.142 with HTTP; Sat, 25 Oct 2014 12:08:05 -0700 (PDT) +In-Reply-To: <CAJHLa0M20QjBOwhOwJWJUcPBLzmaX1uuPy-6ytvJQWLZy68aeg@mail.gmail.com> +References: <CAE28kUS-uDbd_Br3H5BxwRm1PZFpOwLhcyyZT9b1_VfRaBC9jw@mail.gmail.com> + <CAJHLa0PeB-DMs2zo680FRvaejV-K97k2g0Ti9pPdaNeH+gYmog@mail.gmail.com> + <CAE28kUSPb3ZC1nJyX7H__7cAgXvOvPbZ+Tub+htGd5+tujZndg@mail.gmail.com> + <CAJHLa0M20QjBOwhOwJWJUcPBLzmaX1uuPy-6ytvJQWLZy68aeg@mail.gmail.com> +Date: Sat, 25 Oct 2014 22:08:05 +0300 +Message-ID: <CAE28kUS7cr3i-pSew6Y+xvfLEY5D1mi4oHU-GXv+jEf-i_8sVQ@mail.gmail.com> +From: Alex Mizrahi <alex.mizrahi@gmail.com> +To: Bitcoin Dev <bitcoin-development@lists.sourceforge.net> +Content-Type: multipart/alternative; boundary=089e011765cd69b3b9050644040e +X-Spam-Score: -0.6 (/) +X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. + See http://spamassassin.org/tag/ for more details. + -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for + sender-domain + 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider + (alex.mizrahi[at]gmail.com) + -0.0 SPF_PASS SPF: sender matches SPF record + 1.0 HTML_MESSAGE BODY: HTML included in message + -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from + author's domain + 0.1 DKIM_SIGNED Message has a DKIM or DK signature, + not necessarily valid + -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature +X-Headers-End: 1Xi6h8-0006bt-KR +Subject: Re: [Bitcoin-development] death by halving +X-BeenThere: bitcoin-development@lists.sourceforge.net +X-Mailman-Version: 2.1.9 +Precedence: list +List-Id: <bitcoin-development.lists.sourceforge.net> +List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>, + <mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe> +List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development> +List-Post: <mailto:bitcoin-development@lists.sourceforge.net> +List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help> +List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>, + <mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe> +X-List-Received-Date: Sat, 25 Oct 2014 19:08:12 -0000 + +--089e011765cd69b3b9050644040e +Content-Type: text/plain; charset=UTF-8 + +> The hashpower market is maturing in the direction of +> financial instruments, where the owner of the hashpower is not +> necessarily the one receiving income. These are becoming tradeable + +instruments, + + +Meni Rosenfeld issued tradeable mining bonds back in 2012: + +https://bitcointalk.org/index.php?topic=65569.0 + +So this is hardly new stuff. But it definitely won't help. +The contract specifies how many bitcoins bondholder would get depending on +difficulty and other factors. +But, usually, bondholder doesn't care (and cannot check) where these +bitcoins come from. + +Thus the owner of the mining equipment can temporarily turn off that +equipment off, and instead buy them on the market, as he needs to spend +less money than he would spend on electricity. Then he can pocket the +difference. + + +> Simplistic models cannot predict what hashpower does in the face of +> business-to-business medium- and long-term contracts. +> + +Ah, yes, let's forget game theory, business people know it better! + +--089e011765cd69b3b9050644040e +Content-Type: text/html; charset=UTF-8 +Content-Transfer-Encoding: quoted-printable + +<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote"><div= +>=C2=A0</div><blockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px = +0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-= +style:solid;padding-left:1ex">The hashpower market is maturing in the direc= +tion of<br> +financial instruments, where the owner of the hashpower is not<br> +necessarily the one receiving income.=C2=A0 These are becoming tradeable</b= +lockquote><blockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px 0.8= +ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-sty= +le:solid;padding-left:1ex"> +instruments,</blockquote><div><br></div><div>Meni Rosenfeld issued tradeabl= +e mining bonds back in 2012:</div><div><br></div><div><a href=3D"https://bi= +tcointalk.org/index.php?topic=3D65569.0">https://bitcointalk.org/index.php?= +topic=3D65569.0</a><br></div><div><br></div><div>So this is hardly new stuf= +f. But it definitely won't help.</div><div>The contract specifies how m= +any bitcoins bondholder would get depending on difficulty and other factors= +.</div><div>But, usually, bondholder doesn't care (and cannot check) wh= +ere these bitcoins come from.</div><div><br></div><div>Thus the owner of th= +e mining equipment can temporarily turn off that equipment off, and instead= + buy them on the market, as he needs to spend less money than he would spen= +d on electricity. Then he can pocket the difference.</div><div>=C2=A0<br></= +div><blockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px 0.8ex;bor= +der-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:sol= +id;padding-left:1ex">Simplistic models cannot predict what hashpower does i= +n the face of<br> +business-to-business medium- and long-term contracts.<br></blockquote><div>= +<br></div><div>Ah, yes, let's forget game theory, business people know = +it better!</div></div></div></div> + +--089e011765cd69b3b9050644040e-- + + |