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EB49 – Meni Rosenfeld: Mining Pool Reward Systems, Bitcoin Economics, Bitcoin in Israel
Support the show, consider donating: 3CaVLqGd8DE6ztuVuhLpf1bUxyTakopMbJ (http://bit.ly/1FUeNmg) Meni Rosenfeld is Founder of Bitcoil and Chairman of the Israeli Bitcoin Association. Having organized several meetups and conferences in Israel, he is a very active member of the Israeli Bitcoin community. Meni has been studying mining pool reward methods for several years and in 2011, wrote a paper titled “Analysis of Bitcoin Pooled Mining Reward Systems”. This research gave him a broad understanding the reward system landscape and the issues with many of the methods used by pools. He later wrote proposals for alternative non pay-per-share methods and which would render pool hopping impossible: the geometric method and double geometric method. Links mentioned in this episode: - Mining Pools Reward Methods Talk - Bitcoin 2013 Conference [YouTube]: http://bit.ly/1whIxT2 - Analysis of Bitcoin Pooled Mining Reward Systems [paper]: http://bit.ly/1zyyQ7v - Summary of mining pool reward systems [paper]: http://bit.ly/1xutjto - Analysis of hashrate-based double-spending [paper]: http://bit.ly/1wAry12 - Meni Rosenfeld's vanity thread [Bitcoin Talk Forum]: http://bit.ly/1v2QzMC - Geometric method [Bitcoin Talk Forum]: New cheat-proof mining pool scoring method: http://bit.ly/1zdoNnv - Double geometric method [Bitcoin Talk Forum]: Hopping-proof, low-variance reward system: http://bit.ly/1DS4knV - Mine in multiple pools to reduce variance [Bitcoin Talk Forum]: http://bit.ly/1wBAv6R - Multi-PPS [Bitcoin Talk Forum]: http://bit.ly/12OytYe - ASIC will not centralize Bitcoin mining [Meni’s blog]: http://bit.ly/1tYfial - Blocksize Economics by Gavin Andresen [Bitcoin Foundation]: http://bit.ly/10uKcdq - Proof of Activity: Extending Bitcoin’s Proof of Work via Proof of Stake [paper]: http://bit.ly/1v2QN6t - Israel Bitcoin Meetup Group: http://bit.ly/10uKaCz - Israeli Bitcoin Community Facebook Page: http://on.fb.me/1wuunyb Sponsors: - Fairlay: http://fairlay.com/epicenter Bitcoin difficulty over 75B by the end of the year: http://bit.ly/1w85tW3 Show notes: http://epicenterbitcoin.com/podcast/049 SoundCloud: http://soundcloud.com/epicenterbitcoin/eb-049 Epicenter Bitcoin is hosted by Brian Fabian Crain & Sébastien Couture. - Visit our website: http://epicenterbitcoin.com - Subscribe to our newsletter: http://epicenterbitcoin.com/newsletter - Twitter: http://twitter.com/epicenterbtc
Views: 784 Epicenter Podcast
Decentralized GEMS takes on Social Messaging Networks via Counterparty CryptoBiz Magazine
Jay Addison reports on GEMS, a Bitcoin App that lets Users Earn Money From Social Messaging Koinify, the crypto crowdfunding platform, has announced that Gems will be the focus of their first cryptocurrency fundraiser. Gems is a recently announced app that can be described as “messenger meets cryptocurrency,” with a fully encrypted mobile messaging system AND a built-in digital wallet where you collect, store, and spend gems tokens accumulated through your participation as a user. The Tel Aviv-based startup's founder, Daniel Peled, came up with the idea of combining a messaging app with cryptocurrency and began developing the idea with two programing partners. Their mission was to make it easy, almost transparent, to earn and save Bitcoin, using a new token called gems. According to Peled, “There are two reasons we started with the Gems project”: At the moment, the masses lack a strong incentive to enter the Bitcoin ecosystem. Gems solves this problem by ingeniously taking the most adopted form of online communication, mobile social messaging, and introducing a value-reward system built on top of Bitcoin. We also wanted to create an easy, simple way for people to open and use a bitcoin wallet. Currently, when we introduce Bitcoin to new users, the process remains very complicated. We need to go to Blockchain.info, set up a wallet and then explain public and private keys, two-factor authentication, cold storage, and so on. It takes typically one to two hours to introduce someone to Bitcoin and get them set up in the ecosystem. Through Gems, we make all of this very simple. The registration process takes ten seconds. Your username serves as your Bitcoin address. From the beginning, you’ll automatically have a few gems to play with -- so right from the start you’ll be using a cryptocurrency without doing anything difficult. Gems tokens are created with the Counterparty protocol, and crowdfunding will be begin mid-November. For more information, visit Koinify.com or Getgems.org. To read more click here http://cryptobizmagazine.com/decentralized-gems-takes-on-social-networks-messaging-via-counterparty/ Produced by Trent E. Nellis Chief Operations Advisor CryptoBiz Magazine. To subscribe to CryptoBiz Magazine go to www.cryptobizmag.com
Views: 780 CryptoCoinShow