From: Alex Mizrahi <alex.mizrahi@gmail•com>
To: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] death by halving
Date: Sat, 25 Oct 2014 22:08:05 +0300 [thread overview]
Message-ID: <CAE28kUS7cr3i-pSew6Y+xvfLEY5D1mi4oHU-GXv+jEf-i_8sVQ@mail.gmail.com> (raw)
In-Reply-To: <CAJHLa0M20QjBOwhOwJWJUcPBLzmaX1uuPy-6ytvJQWLZy68aeg@mail.gmail.com>
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> 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!
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next prev parent reply other threads:[~2014-10-25 19:08 UTC|newest]
Thread overview: 29+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-10-25 18:06 Alex Mizrahi
2014-10-25 18:12 ` Jeff Garzik
2014-10-25 18:22 ` Alex Mizrahi
2014-10-25 18:31 ` Jeff Garzik
2014-10-25 19:08 ` Alex Mizrahi [this message]
2014-10-25 19:16 ` Gavin Andresen
2014-10-25 19:53 ` Alex Mizrahi
2014-10-25 21:50 ` Melvin Carvalho
2014-10-28 20:17 ` Ferdinando M. Ametrano
[not found] ` <CAAS2fgSiz-XRVQ4V+KbrTUWG4=g=WGf8c-pF4b4fFnfyU9HOqQ@mail.gmail.com>
2014-10-28 20:36 ` [Bitcoin-development] Fwd: " Gregory Maxwell
2014-10-28 20:57 ` Alex Mizrahi
2014-10-28 21:19 ` Jérémie Dubois-Lacoste
2014-10-28 21:43 ` Gregory Maxwell
2014-10-28 22:43 ` Ferdinando M. Ametrano
2014-10-29 14:34 ` [Bitcoin-development] Death by halving (pro-active proposals) Sergio Lerner
2014-10-29 17:25 ` Jeff Garzik
2014-10-28 21:23 ` [Bitcoin-development] Fwd: death by halving Ferdinando M. Ametrano
2014-10-28 21:34 ` Neil
2014-10-28 21:44 ` Ferdinando M. Ametrano
2014-10-28 22:00 ` Thomas Zander
2014-10-28 22:38 ` Ferdinando M. Ametrano
2014-10-28 21:57 ` Christophe Biocca
2014-10-25 20:27 ` [Bitcoin-development] " Adam Back
2014-10-25 20:43 ` Thomas Zander
2014-10-25 20:28 ` Thomas Zander
2014-10-25 20:49 ` Alex Mizrahi
2014-10-25 21:51 ` Alexander Leishman
2014-10-25 22:10 ` Ross Nicoll
2014-10-25 22:42 ` Melvin Carvalho
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