@Brothaz.From.Another.Mothaz

Sapere Aude

[BitHouse @BitHouse_Mining]

A special thank you to StoryTime and Gianluca Losco for the opportunity to share the story of Bithouse and our mission to mine Bitcoin sustainably by converting waste gas into energy.

Thanks to everyone for listening!

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[Charlie Shrem @CharlieShrem]

February 1, 2012 - FOR IMMEDIATE RELEASE

WORLD'S FIRST BITCOIN ASIC CHIPS HIT THE MARKET

Source: Bitcoin Foundation
Contact: Charlie Shrem, Vice Chairman, Yifu Guo

23-yr old Brooklyn native builds fastest "mining rig" in the world

New York, NY - Earlier this week, the Bitcoin network achieved a market capitalization of over $200 million and is processing over 40,000 financial transactions per day. After a year of speculation and rumor, the first application specific integrated circuits (ASICs) dedicated to Bitcoin mining have become a reality. Yifu Guo, 23, is now commercially shipping the fastest dedicated Bitcoin mining hardware in the world.
The custom processing hardware dramatically increases the security of the Bitcoin network and professionalizes the Bitcoin mining industry.
Yifu's Las Vegas-based company, BitSynCom LLC, coordinated with partners in mainland China to make their ASIC project a reality. Named the "Avalon ASIC V1," the mining hardware processes data at a speed of more than 65 gigahashes per second using only 500 watts of electricity. This represents a roughly 50x increase in mining efficiency.
There is no central company or server behind Bitcoin, rather it relies on a distributed network (similar to peer-to-peer file sharing). "Bitcoin mining" is the process of auditing financial transactions on this distributed global network.
Traditionally, mining has been done with powerful desktop graphics cards, and "miners" are rewarded for contributing to this auditing process with newly created bitcoins. The current exchange rate for one bitcoin is roughly twenty dollars.
While a typical desktop computer could "mine" a few dollars of bitcoins per day, the Avalon ASIC V1, which costs $1500 (payable only with bitcoins), currently earns $200-$300 per day. As more ASICs join the network, however, the mining difficulty will increase proportionally and the rate of profit will be reduced.
Several other US-based companies were also in the race to be first-to-market, but have suffered significant production delays.
"One of the most important consequences of ASICs is that normal desktop computers will be made increasingly irrelevant for Bitcoin mining," says Yifu Guo, CEO of BitSynCom LLC, "this means that botnets, under the control of hackers, will find it harder to profit from this activity. The incentive for hacking computers to engage in Bitcoin mining will be greatly reduced, and the resilience of the network will be greatly enhanced."
Charlie Shrem, Vice Chairman of the non-profit D.C.-based Bitcoin Foundation, praised the device, "This technological breakthrough not only brings a long awaited and hotly contested first-to-market product, but goes down in the Bitcoin history books as the new era of Bitcoin mining."

[BitHouse @BitHouse_Mining]

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[jagdeep sidhu @realSidhuJag]

If you consider countries as companies and the population as the retail consumer, suddenly everything becomes crystal clear (the current events, economic policies, "national interests"). There is a veil of ignorance the retail is brainwashed with to keep "alignment". With the technologies we are creating, we are preparing for a world post-singularity where the contracts between corporations and retail consumer are suddenly null and void.

[BitHouse @BitHouse_Mining]

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[BitHouse @BitHouse_Mining]

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[BitHouse @BitHouse_Mining]

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[BitHouse @BitHouse_Mining]

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[BitHouse @BitHouse_Mining]

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[BitHouse @BitHouse_Mining]

Edward Snowden Speach at Bitcoin2024

[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

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[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

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[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

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[Lyn Alden @LynAldenContact]

When it comes to analysis, design, or management, a critical and recurring challenge is to be able to:

1) hold two or more competing thoughts in your head,

2) but then not get stuck with decision paralysis,

3) and thus to be able to form a view and take action.

It's easy to fail in either of the first two steps.

For the first step, many people can't steel-man their opponent's view, don't take time to seriously consider competing arguments. This represents tribalism and insufficient critical thought, and has a high likelihood of being wrong. People become easy to manipulate, and where their views end up largely depends on luck of their surroundings and who managed to convince them of something earlier.

For the second step, a smaller subset of people get past the first step but then get stuck in decision paralysis or cynicism. There are too many paths, too many compelling and contradictory points. It then becomes a problem of overthinking and thus inaction. It's easier to identify problems than to build solutions, so this valley of inaction is an enticing trap that feels intellectually stimulating but leads nowhere.

The narrow path beyond those two, and what we should strive for, is to be able to do enough critical thought to the point where it starts to venture into the realm of decision paralysis, but then find a way to weigh the probabilities and form a conclusion to start taking action on, with the willingness to pivot if evidence/probabilities mount toward a different direction.

Anyway, happy Christmas Eve.

[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

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[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

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[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

Live a life you're proud of...
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[Lyn Alden @LynAldenContact]

They say that it would coexist with physical cash, but it’s important to keep in mind that once both exist, it is much easier to phase out physical cash.

Most changes to the financial system have been piecemeal, swapping out one small item at a time until it’s totally different.

[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

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[@Brothaz.From.Another.Mothaz @Brothaz_G_D]

We see genius...