Free audio plugins blockchain and coin idea

[stratum]

What's new is BitCoin and all the fuzz arround, mainly designed to move money from gullible clueless grandma pocket into the pocket of the miner.

I guess all this had begun in Rome when the empire didn't have enough gold income to cover its expenses. Perhaps in an earlier empire with the same problem. Same story since then in various forms, and who had invented fractional reserve lending, it's even more capable in terms of moving money away from the clueless. Therefore that's not an argument against bitcoin for that reason.

[nonnaci]

Doesn't bitcoin mining now boil down to who can best take advantage of energy arbitrage? e.g. cheap electricity in polar regions? Can't see this being sustainable if they're going to externalize costs like this.

[DPhil]

Personally I feel cryptocurrencies are just an absolutely terrible idea, because they waste crazy amounts of electric power on the "mining" and therefore contribute to global environmental warming. We should be looking for ways to make the modern society MORE energy efficient, not less.

Who cares about electricity, especially if civilization goes towards solar. The same critique can be said about just every industry - meat and diary production produces toxic waste, paper production generates deforestation, examples are plenty. We all are just fking consumers of this planet. The idea is not about cryptomining - if implemented correctly, miners get only a small stake of the coins.

When I'm reading something like that, I loose trust in a one-man-company like yours and think twice the next time I want to buy something from Voxengo. Seriously. BitCoin mining and other generated cryptocurrencies are not only a huge waste of energy, but also a parasitic concept, like financial speculations of all sorts, to exploit hard working people. In the end all this number playing is realised into real goods and services people work for. So you exchange some mathematical, energy wasting drivel with real goods and services. It is the epitome of dumb and greedy capitalism.

+10000000 I thought exact the same thing. It was just a matter of time until this bitcoin hype/scam poisons audio industry. But that it will become that popular right now is sad.

[Aleksey Vaneev]

Developing plugins doesn't scale. If you need more hashing power you add ore ASICs. If you need to more developer power, you need to find a wife and produce some (will take 18 years of rampup time at least).
Also what is during XMass? When all the devs are on vacation? Is the network on pause then becuase no new blocks produced?

Websites work, downloads served during vacations. Developing plugins scales in a much the same way as all other production. Mining power does not rise fast as well, takes year to double. The higher the investment on a particual blockchain the higher the resulting production.

[PurpleSunray]

I guess all this had begun in Rome when the empire didn't have enough gold to cover its expenses. Perhaps in an earlier empire with the same problem. Same story since then in various forms, and who had invented fractional reserve lending, it's even more capable in terms of moving money away from the clueless. Therefore that's not an argument against bitcoin for that reason.

But it was an argument to use BitCoin at a first, that turned out to be a downright lie.
If I open a bank accoun and that bank tells me "we don't have transaction costs, it's all optional" .. then I open an account and find out that transaction costs are in fact optinal, but I if don't give 50€++ optinally, they are simply not going to confirm my transaction it forever.

For all the anti-captialism folks, BitCoint is kind of the future. Transaction w/o banks or regulations for free folks. yeah lol. Hope they going to open their eyes soon... BitCoin is actually waaaay worse then any bank system when it comes to captialism & ripping-off ppl.

[Aleksey Vaneev]

+10000000 I thought exact the same thing. It was just a matter of time until this bitcoin hype/scam poisons audio industry. But that it will become that popular right now is sad.

Well, I'm not doing any blockchain, it's just an idea. I perceive cryptocurrency as just a financial technology. Currently it's useless and speculative. But if developed further it will change the world forever. End of capitalism and socialism. Only mass private investments into production. And free products.

[PurpleSunray]

End of capitalism and socialism.

Read my comment above.
It's not the end, it's next round.
Now the money ripping has moved from a somehow-regulated banks&financial sector into a completly open and unregulated area where everyone can do whatever he wants.
It's not the end of capitalism, it's capitalism 2.0 - just replace the word "Bank" (that needs to stickto regualtions) with "Miner" (that has no regulations at all)... it's getting worse, not better IMHO.

[Aleksey Vaneev]

End of capitalism and socialism.

Read my comment above.
It's not the end, it's next round.
Now the money ripping has moved from a somehow-regulated banks&finencial sector into a completly open and unregulated area where everyone can do whatever he wants.
It's not the end of capitalism, it's capitalism 2.0 - just replace the word "Bank" with "Miner" on all your thinking.

No, miners only get a couple of percent of the total coin mass per year. Transactions fees on bitcoin are not representative of blockchain technology - there are a lot of coins with almost zero transaction fees. Bitcoin is absolutely non-representative at the moment.

[ere2learn]

Proof of work will end eventually,delegated proof of stake seems like a better system to me

[stratum]

I guess all this had begun in Rome when the empire didn't have enough gold to cover its expenses. Perhaps in an earlier empire with the same problem. Same story since then in various forms, and who had invented fractional reserve lending, it's even more capable in terms of moving money away from the clueless. Therefore that's not an argument against bitcoin for that reason.

But it was an argument to use BitCoin at a first, that turned out to be a downright lie.
If I open a bank accoun and that bank tells me "we don't have transaction costs, it's all optional" .. then I open an account and find out that transaction costs are in fact optinal, but I if don't give 50€++ optinally, they are simply not going to confirm my transaction it forever.

For all the anti-captialism folks, BitCoint is kind of the future. Transaction w/o banks or regulations for free folks. yeah lol. Hope they going to open their eyes soon... BitCoin is actually waaaay worse then any bank system when it comes to captialism & ripping-off ppl.

The argument goes like: The number of coins producible is limited, therefore it's gold in software form, even better, it's not even minable beyond a limit. That's the promise they had sold to the world, and perhaps its even true as long as alternatives aren't created (they have been).

One problem I can see is that there is nothing whatsoever that backs its value, so it's entirely speculative. That's why it may fail in the end.

On the other hand it's a new technology that might be useful, as long as people don't take it too seriously.

[Aleksey Vaneev]

Proof of work will end eventually,delegated proof of stake seems like a better system to me

But it's the same thing in the end if not developed further. Useless and speculative. I want to see a further development of this new fintech.

[PurpleSunray]

> Bitcoin is absolutely non-representative at the moment.

Why?
I could say that BitCoin is the only representative at the moment, because it is the only widely used.

No, miners only get a couple of percent of the total coin mass per year. Transactions fees on bitcoin are not representative of blockchain technology - there are a lot of coins with almost zero transaction fees.

Yeah, Banks also only get a couple of percent of the total revenue per year.
So what's the montivation for a miner if transaction fees are zero?
I think it is directly related to the blockchain concept.
It relies on someone to produce blocks and that someone wants a reward for it.
So as soon as your zero-transaction-fees-coin reaches the volume of BitCoin and has i.e. 400k unconfirmed transactions, you will see a race on transaction fees... why? Because captialsm is not dead at all. If there 400k unconfirmed transactions the 400k+1 is maybe willing to pay me 1k$, so that I include it on the next block immediatly instead of waiting for hour on queue? So millionar can do instant transaction and the unemployed has to wait until all the millionar transactions have been processed.

Captialsm is a problem of the human-kind.
You can's solve it with a chain of digital hashes.
So stop telling ppl that you can... all you do is building yet another system, that makes it even easier to be a greedy hustler than ever before.

[Aleksey Vaneev]

> Bitcoin is absolutely non-representative at the moment.

Why?
I could say that BitCoin is the only representative at the moment, because it is the only widely used.

No, miners only get a couple of percent of the total coin mass per year. Transactions fees on bitcoin are not representative of blockchain technology - there are a lot of coins with almost zero transaction fees.

Yeah, Banks also only get a couple of percent of the total revenue per year.
So what's the montivation for a miner if transaction fees are zero?
I think it is directly related to the blockchain concept.
It relies on someone to produce blocks and that someone wants a reward for it.
So as soon as your zero-transaction-fees-coin reaches the volume of BitCoin and has i.e. 400k unconfirmed transactions, you will see a race on transaction fees... why? Because captialsm is not dead at all. If there 400k unconfirmed transactions the 400k+1 is maybe willing to pay me 1k$, so that I include it on the next block immediatly instead of waiting for hour on queue?

Captialsm is a problem of the human-kind.
You can's solve it with a chain of digital hashes.
So stop telling ppl that you can... all you do is building yet another system, that makes it even easier to be a greedy hustler than ever before.

See https://coinmarketcap.com/ - Bitcoin is largest, but far from being the only widely used. Transaction throughput is a limitation of a particular blockchain. E.g. Bytecoin's throughput is only limited by Internet's throughput. You have to understand that miner's income is divided by blockchain's total hashrate. When coin's hashrate goes too high, miners switch to other coins, it's a dynamic system. Mining is a general model of production. As long as there is a "reward" for mining, transaction fees can be kept zero. They are not zero to solve the problem of transaction spam.

[PurpleSunray]

E.g. Bytecoin's throughput is only limited by Internet's throughput. You have to understand that miner's income is divided by blockchain's total hashrate. When coin's hashrate goes too high, miners switch to other coins, it's a dynamic system. Mining is a general model of production.

Now you got the point.
BitCoin ran into the hasrate problem because some big miner where jumping off.
Last week, at the day the unconfirmend transaction reached >300k, suddenly all the dog coin, ehter & so rigs of my colleges where stopped they dusted their BitCoin rig again. Why? Cause of tansaction fees.

So miners are basically running after the coin that gives them biggest revenue.
This is captiasum at its pure form.
There is no difference in between a transaction that is for a super-urgend-medial service and must pass the system fast or someone dies vs it is a new toy for saudi millionar.
There is no social factor on this - it PURE capitalsm.
That's all I want to say.. I'm fine with the blockchain technology, it just won't slove capitalsm or any social problem. In fact I think it will make problems worse, because today I am a bank customer, can call them, explain my problem and ask for help. BitCoin miners don't care about anything else than fees. So I would say that bank system is actually more social than Bitcoin.

[Aleksey Vaneev]

So miners are basically running after the coin that gives them biggest revenue. This is captiasum at its pure form.

Capitalism is about capital centralization, 99% of wealth in hands of 1%. Running for more profit is not capitalizm, it's a mathematical reasoning. Hashrate dump is a problem of bitcoin blockchain that changes difficulty once per 2 weeks. A lot of other blockchains update difficulty every block (e.g. every 2.5 minutes).

There is no difference in between a transaction that is for a super-urgend-medial service and must pass the system fast or someone dies

The idea I've outlined will offer free medical service, with expenses covered at a later time by investors.