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Bitcoin The Miners Dilemma
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Book Synopsis Bitcoin -- The Miner's Dilemma by : Ittay Eyal
Download or read book Bitcoin -- The Miner's Dilemma written by Ittay Eyal and published by . This book was released on 2015 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bitcoin digital currency introduced this mechanism, which is adopted by almost all contemporary digital currencies and related services.A natural process leads participants of such systems to form pools, where members aggregate their power and share the rewards. Experience with Bitcoin shows that the largest pools are often open, allowing anyone to join. It has long been known that a member can sabotage an open pool by seemingly joining it but never sharing its proofs of work. The pool shares its revenue with the attacker, and so each of its participants earns less.We define and analyze a game where pools use some of their participants to infiltrate other pools and perform such an attack. With any number of pools, no-pool-attacks is not a Nash equilibrium. We study the special cases where either two pools or any number of identical pools play the game and the rest of the participants are uninvolved. In both of these cases there exists an equilibrium that constitutes a “tragedy of the commons” where the participating pools attack one another and earn less than they would have if none had attacked.For two pools, the decision whether or not to attack is the miner's dilemma, an instance of the iterative prisoner's dilemma. The game is played daily by the active Bitcoin pools, which apparently choose not to attack. If this balance breaks, the revenue of open pools might diminish, making them unattractive to participants.
Book Synopsis The Bitcoin Dilemma by : Colin L. Read
Download or read book The Bitcoin Dilemma written by Colin L. Read and published by Springer Nature. This book was released on 2022-10-15 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are few innovations that have the potential to revolutionize commerce and have evolved so quickly that there remain significant misunderstandings about their operation, opportunity, and challenges as has Bitcoin in the dozen years since its invention. The potential for banking, transacting, and public recording of important records is profound, but can be displacing if not done with appropriate care, and is downright dangerous if certain pitfalls are not noted and avoided. Among other things, this book proves the existence of a Bitcoin dilemma that challenges the conventional wisdom which mistakenly asserts the incredibly intensive energy consumption in Proof-of-Work cryptocurrency mining will be remedied by more efficient mining machines or sustainable power sources. It shows for the first time within a well-specified economic model of Bitcoin mining that the recent runup in electricity consumption has a simple and inevitable explanation. For a coin with almost completely inelastic supply and steadily increasing demand, the conditions for accelerating electricity demand is consistent with economic theory and may well characterize the future of Bitcoin. The book also demonstrates the counterintuitive result that improvements in mining efficiency, in terms of electricity consumption per terahash of processing power, or decreases in electricity costs as cheaper sustainable energy is diverted to this industry, merely exacerbates the acceleration of energy consumption because of a prisoner’s dilemma arms-race-to-the-bottom. The book proposes policy solutions to mitigate this Bitcoin dilemma but note that the mobility of industry capacity which needs but a ready supply of electricity and an Internet connection frustrates local regulation and warrants global solutions. The incredible opportunities of this industry will only be realized if our regulators, legislators, entrepreneurs, and general public garner a more complete and objective understanding of this and other Proof-of-Work mining techniques. The book provides this broader perspective based on the author’s research as an economist, his position as a director of a large regional bank, his understanding as a technologist and as an environmental and sustainability researcher, and his public policy experience as a mayor who has also written books and articles about public policy and public finance.
Book Synopsis Cryptocurrency Mining For Dummies by : Peter Kent
Download or read book Cryptocurrency Mining For Dummies written by Peter Kent and published by John Wiley & Sons. This book was released on 2019-11-08 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Find out the essentials of cryptocurrency mining The cryptocurrency phenomenon has sparked a new opportunity mine for virtual gold, kind of like the prospectors of a couple centuries back. This time around, you need some tech know-how to get into the cryptocurrency mining game. This book shares the insight of two cryptocurrency insiders as they break down the necessary hardware, software, and strategies to mine Bitcoin, Ethereum, Monero, LiteCoin, and Dash. They also provide insight on how to stay ahead of the curve to maximize your return on investment. Get the tech tools and know-how to start mining Pick the best cryptocurrency to return your investment Apply a sound strategy to stay ahead of the game Find cryptocurrency value at the source From the basics of cryptocurrency and blockchain to selecting the best currency to mine, this easy-to-access book makes it easy to get started today!
Download or read book Once a Bitcoin Miner written by Ethan Lou and published by ECW Press. This book was released on 2021-10-19 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: A map to the new frontier, and a rollicking ride across it Ethan Lou goes on an epic quest through the proverbial cryptocurrency Wild West, through riches, absurdity, wonder, and woe. From investing in Bitcoin in university to his time writing for Reuters, and then mining the digital asset ― Lou meets a co-founder of Ethereum and Gerald Cotten of QuadrigaCX (before he was reported dead), and hangs out in North Korea with Virgil Griffith, the man later arrested for allegedly teaching blockchain to the totalitarian state. Coming of age in the 2008 financial crisis, Lou’s generation has a natural affinity with this rebel internet money, this so-called millennial gold, created in the wake of that economic storm. At once an immersive narrative of adventure and fortune, Once a Bitcoin Miner is also a work of journalistic rigor. Lou examines this domain through the lens of the human condition, delving deep into the lives of the fast-talkers, the exiles, the ambitious, and the daring, forging their paths in a new world, harsh and unpredictable.
Book Synopsis The Essential Guide to Bitcoin Mining by : Brian M. Holmes
Download or read book The Essential Guide to Bitcoin Mining written by Brian M. Holmes and published by Holmes House Press. This book was released on 2018-12-17 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: New and updated 2nd edition. More miners, more coins, more info. The Essential Guide to Bitcoin Mining: A Cryptocurrency Tutorial is more than just Bitcoin mining. The book introduces people to mining Bitcoin and Altcoins. It discusses what Bitcoin and cryptocurrency is and the history and use cases for it. The book also touches on investing, security, and the retail adoption of crypto. Mining is the focus of this very approachable and useful book. If you don't know anything about Bitcoin or cryptocurrency you will learn much here. If you want to enhance your knowledge of crypto mining and the crypto space this book is for you.
Book Synopsis Applied Cryptography and Network Security by : Robert H. Deng
Download or read book Applied Cryptography and Network Security written by Robert H. Deng and published by Springer. This book was released on 2019-05-28 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 17th International Conference on Applied Cryptography and Network Security, ACNS 2019, held in Bogota, Colombia in June 2019. The 29 revised full papers presented were carefully reviewed and selected from 111 submissions. The papers were organized in topical sections named: integrity and cryptanalysis; digital signature and MAC; software and systems security; blockchain and cryptocurrency; post quantum cryptography; public key and commitment; theory of cryptographic implementations; and privacy preserving techniques.
Book Synopsis Bitcoin Essentials by : Albert Szmigielski
Download or read book Bitcoin Essentials written by Albert Szmigielski and published by Packt Publishing Ltd. This book was released on 2016-02-22 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gain insights into Bitcoin, a cryptocurrency and a powerful technology, to optimize your Bitcoin mining techniques About This Book Learn how to use the advanced features of Bitcoin wallets Set up your Bitcoin mining operations to mine with efficiency Explore what the future holds for mining and blockchains in this pragmatic guide Who This Book Is For If you have never mined before, this book will ensure that you know what mining is all about. If you are familiar with Bitcoin mining, then it will help you to optimize your mining operations at a deeper level. A basic understanding of computers and operating systems is assumed, and some familiarity with cryptocurrency basics would be an added advantage. What You Will Learn Get introduced to Bitcoin mining from the ground up Find out about mining software and the different types of mining hardware Master setup techniques to enable efficient mining Examine the pros and cons of the different types of mining hardware Deduce the differences between solo and pool mining Take a peek into professional mining farms Explore the future of mining and blockchain-based applications In Detail Blockchain is being billed as the technology of the future. Bitcoin is the first application of that technology. Mining is what makes it all possible. Exploring mining from a practical perspective will help you make informed decisions about your mining setup. Understanding what the future may hold for blockchains, and therefore for mining, will help you position yourself to take advantage of the impending changes. This practical guide starts with an introduction to Bitcoin wallets, as well as mining hardware and software. You will move on to learn about different mining techniques using the CPU, GPU, FPGA, and ultimately the ASIC as an example. After this, you will gain an insight into solo mining and pool mining, and see the differences between the two. The book will then walk you through large-scale mining and the challenges faced during such operations. Finally, you will take a look into the future to see a world where blockchain-based applications are commonplace and mining is ubiquitous. Style and approach This is a practical guide that includes detailed step-by-step instructions and examples on each essential concept of Bitcoin mining.
Book Synopsis Bitcoin Mining 101 by : Sebastian Merz
Download or read book Bitcoin Mining 101 written by Sebastian Merz and published by BoD – Books on Demand. This book was released on 2021-01-29 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bitcoin Mining 101 ASIC, CPU, GPU, FPGA, blocks and hashes. I know what you are thinking, what does all of this mean, right? It means profits - if you do it right. Welcome to the world of Bitcoins! Anonymous, fast, low and sometimes no fees - what could be better? There are some risks and a lot you need to know. So go ahead and read this book to find out all about bitcoins and bitcoin mining; you'll be equipped with everything you need to know by the time you have finished reading. You might even join a mining pool, maybe you'll invest - read on and decide.
Book Synopsis Blockchain Mining by : Bradley Lakeman
Download or read book Blockchain Mining written by Bradley Lakeman and published by Independently Published. This book was released on 2018-12-16 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you want to Join the Blockchain Revolution that's taking the world of finance by storm, then keep reading... It's not a secret that many big online platforms are investing in blockchain technology and cryptocurrencies. Even if the Bitcoin value drops down to 3400USD the big online platforms still see a future. In this book, you will discover: * How Bitcoin Mining Works * Solo Mining vs. pool Mining, and which one you should choose * How To Start Bitcoin Mining * The secret criteria to select the most profitable coins to mine in 2019 and further. * Mining Strategies for Making Profits * Crypto Mining features you're not probably using * Bitcoin Wallets, Where to buy bitcoins * Discover how you can avoid the 5 most expensive mistakes And much, much more! Blockchain Mining is your guide through the seemingly complex world of bitcoin, providing the knowledge you need. This book provides essential detail to get you started. You can start an investment portfolio, even if you literally have no money And if you want to discover the secrets and tactics about blockchain mining that the big players use, scroll up and click the 'Add to Cart' button.
Download or read book Bitcoin written by Allen Andrews and published by . This book was released on 2019-08-09 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bitcoin currency is a decentralized, highly-secure approach to how money is transferred between two entities. As the Blockchain technology continues to grow, more adopters are starting to see the value behind investment and the potential for a currency that isn't ran by empty government promises. While still a volatile form of currency and only beginning to be adopted into retail environments, Bitcoin offers adopters a huge chance to make a profit while changing the course of financial history. Bitcoin: The Complete Guide to Understanding Bitcoin Cryptocurrency and Bitcoin Mining aims to teach newcomers about the ins and outs of the technology and opportunities. This includes: The language and technology behind Bitcoin and cryptocurrency How "mining" generates new Bitcoins and processes transactions The equipment and techniques used to mine Bitcoin and earn profits The anonymity of Bitcoin and other security concerns What affects the price of Bitcoin How you can invest in Bitcoin for the sake of improving technology or making a profit Demystifying a lot of the jargon is a huge first step, and with layman explanations throughout, Bitcoin serves readers enough information to get them started down the Bitcoin journey before it's too late to make a profit. With explanations of hardware, software, and general safety measures, new adopters to the world of Bitcoin will start out with a solid foundation.
Book Synopsis The Bitcoin Dystopia by : Dunstan Teo, Alvin Chiang
Download or read book The Bitcoin Dystopia written by Dunstan Teo, Alvin Chiang and published by Notion Press. This book was released on 2019-05-30 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bitcoin, the brainchild of Satoshi Nakamoto, is as unfathomable as its elusive creator. Is it an instrument of exchange, like currency notes, or is it an investment tool? While many of us could still be grappling with the concept of cryptocurrency, fortunes have already been built and lost; lives have been impacted and, in some cases, ruined in this whole new uncharted universe of digital money. Piecing together published information from various sources, The Bitcoin Dystopia: The Prelude offers a bird’s eye view of the current state of affairs with regard to cryptocurrency and the larger world in which it is situated. At the same time, the book makes a bold prediction about the future of the world through a provocative storytelling approach that is atypical of non-fiction. Bitcoin is unorthodox and any attempt to grasp its impact should be anything but conventional.
Book Synopsis Cryptocurrency Mining for Beginners by : Stephen Satoshi
Download or read book Cryptocurrency Mining for Beginners written by Stephen Satoshi and published by scott m ecommerce. This book was released on 2018-02-17 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the best ways to profit from mining crypto in 2018… You might have thought mining cryptocurrency is no longer worth it. That the costs outweigh the rewards. And you’d be right - for Bitcoin. It's true, the current upfront investment is too high to justify any returns. However, there are many other coins which are still very profitable. Coins you can mine on your PC or laptop. With no special hardware required. In fact, some of these coins will net you up to $50 a day. That’s an extra $18,500 a year. All from the comfort of your own home. In this book you’ll discover: Why mining Bitcoin is no longer worth your time or money - Page 24 How to spot a mining scam - before you invest your money in it - Page 70 How you can mine coins on the go, directly from your cellphone - Page 79 A hidden way to profit from mining that doesn’t even involve mining yourself - Page 92 How to set up your own mining rig - Page 52 The most profitable Proof of Stake Cryptocurrency for passive income - Page 87 …and much, much more! …plus a free bonus report detailing 3 exciting microcap cryptocurrencies with great opportunity for profit in 2018. So if you’re ready to discover how you can potentially make an extra $18,000 from home this year. Then click “add to cart” to receive your book instantly
Download or read book Bitcoins written by Muhammad Aslam Zahid and published by Universal-Publishers. This book was released on with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bitcoin Mania by : Learn2succeed.com Incorporated
Download or read book Bitcoin Mania written by Learn2succeed.com Incorporated and published by Productive Publications. This book was released on 2014 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of a world peer-to-peer cryptocurrency
Book Synopsis Bitcoin Mining for Beginners by : Bitcoin Mining Experts
Download or read book Bitcoin Mining for Beginners written by Bitcoin Mining Experts and published by Createspace Independent Publishing Platform. This book was released on 2014-01-29 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover everything you need to know to cash in on the Bitcoin gold rush! Bitcoin is becoming more and more popular and increasingly valuable - it gained over 1,000% in value last year! Some of the people taking advantage of this Bitcoin "gold rush" are making thousands of dollars in the process! Why can't YOU be the next Bitcoin success story? In this Bitcoin step-by-step guide, you'll learn: - How to Get Bitcoins - The Benefits of Bitcoin Mining - How to Successfully Create a Bitcoin Mining "Rig" - Pros and Cons of Joining Bitcoin Mining Pools - The Future of Bitcoin Learn step-by-step how to become successful with Bitcoin with this complete Bitcoin mining guide! ON 50% OFF SALE FOR A LIMITED TIME! Make an investment in your financial future and grab your copy TODAY!
Download or read book Debunking Economics written by Steve Keen and published by Zed Books. This book was released on 2001-07-28 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the score card for economics at the start of the new millennium? While there are many different schools of economic thought, it is the neo-classical school, with its alleged understanding and simplistic advocacy of the market, that has become equated in the public mind with economics. This book shows that virtually every aspect of conventional neo-classical economics' thinking is intellectually unsound. Steve Keen draws on an impressive array of advanced critical thinking. He constitutes a profound critique of the principle concepts, theories, and methodologies of the mainstream discipline. Keen raises grave doubts about economics' pretensions to established scientific status and its reliability as a guide to understanding the real world of economic life and its policy-making.
Book Synopsis Bitcoin and Cryptocurrency Technologies by : Arvind Narayanan
Download or read book Bitcoin and Cryptocurrency Technologies written by Arvind Narayanan and published by Princeton University Press. This book was released on 2016-07-19 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative introduction to the exciting new technologies of digital money Bitcoin and Cryptocurrency Technologies provides a comprehensive introduction to the revolutionary yet often misunderstood new technologies of digital currency. Whether you are a student, software developer, tech entrepreneur, or researcher in computer science, this authoritative and self-contained book tells you everything you need to know about the new global money for the Internet age. How do Bitcoin and its block chain actually work? How secure are your bitcoins? How anonymous are their users? Can cryptocurrencies be regulated? These are some of the many questions this book answers. It begins by tracing the history and development of Bitcoin and cryptocurrencies, and then gives the conceptual and practical foundations you need to engineer secure software that interacts with the Bitcoin network as well as to integrate ideas from Bitcoin into your own projects. Topics include decentralization, mining, the politics of Bitcoin, altcoins and the cryptocurrency ecosystem, the future of Bitcoin, and more. An essential introduction to the new technologies of digital currency Covers the history and mechanics of Bitcoin and the block chain, security, decentralization, anonymity, politics and regulation, altcoins, and much more Features an accompanying website that includes instructional videos for each chapter, homework problems, programming assignments, and lecture slides Also suitable for use with the authors' Coursera online course Electronic solutions manual (available only to professors)
