Mereja.Forum

[gearhead]

The man-child is cajoling us to join him in his quest to AI mine blockchain crypto and lessen his dollar dependency!

I have an indigo child for a nephew who built his first mining CPU when he was nine. At 15 the entire basement is machine after machine, stack after stack, running electricity like crazy but under performing his/mine/aunts/parents/friends investment. Now he been talking expediting mining through AI and even breaking the code itself and asking everyone for more money! Imagine this money draining cyber punk of a kid be running a country! Yet we have Abiy, the man-child trapped in a 14 year old body talking about supplanting hard currency!

The reality is that that, blockchain crypto's viability itself is highly contested, with best estimates of a critical mass 20 years down; that is notwithstanding that benefactors wont resist its ascendence!

All this Abiy's shenanigans of front against the dollar is so that he stays in power for 10 years without contesting anyone especially oromia. It would have been fine had it not been the case that this breeds the least competent managerial group in oromia and ethiopia and makes the 10year economic plan undeliverable!

https://seekingalpha.com/article/442145 ... dollar-btc

[DefendTheTruth]

The man-child is cajoling us to join him in his quest to AI mine blockchain crypto and lessen his dollar dependency!

I have an indigo child for a nephew who built his first mining CPU when he was nine. At 15 the entire basement is machine after machine, stack after stack, running electricity like crazy but under performing his/mine/ants/parents/friends investment. Now he been talking expediting mining through AI and even breaking the code itself and asking everyone for more money! Imagine this money draining cyber punk of a kid be running a country! Yet we have Abiy, the man-child trapped in a 14 year old body.

The reality is that that, blockchain crypto's viability itself is highly contested, with best estimates of a critical mass 20 years down; that is notwithstanding that benefactors wont resist its ascendence!

https://seekingalpha.com/article/442145 ... dollar-btc

You are a quick learner, which is on the positive side for you. But learning doesn't end with being able to post some kind of an internet site link after just have "successfully" googled it.

Take time and dig deeper, if you care about yourself.

Contested is not the same as disproven by any stretch of an imagination, is it? The loosing side keeps always contesting like also the current change in Ethiopia, that is the hallmark of a change.

[Horus]

It is interesting that we now see such concepts as blockchain technology, cryptoassets, cryptocurrency, Bitcoin, bitcoin, etc ...on ER Forum. To my knowledge, there are only 2 academic level books written on cryptoassets and Blockchain technology. I am currently reading 'Cryptoassets: the innovative investor's guide to Bitcoin and byond' (2018) by Burniske & Tatar and the 2nd book is published in 2020.

My point is this. I seem to agree with the prediction that we are now going beyond the age of Information technology and entering the era of Blockchain Technology (BT). BT is simply a software. It is a type of database used in various other fields other than currency and trade. So a lot people are not clear about the distinction between Blockchain technology (ሁሉም የሚያውቀውና ክፍት መዝገብ ማለት ነው) cryptocurrency - a medium of exchange, store of value & counting method (such as pricing other commodities and services).

As we speak there are close to 1000 different cryptocurrencies and the biggest one is Bitcoin, bitcoin. The whole idea is simply an encrypted computer code. That it. It is called Automated Mathematical Trust system. And, yes, there a great debate to get off American controlled Dollar or any other single nation or Euro like currency dependence by creating a neutral, mathematical, blind technology that no body controls.

The biggest problem is that there is no physical asset or physical reality that support or pegs this mathematical trust system - mere computer code. So, it is very critical that we Ethiopians grasp the essence of what this technology is all about but its current adoption is too premature.

I want to study the latest book on it before forming a definitive belief on it. Remember that Bitcoin is nothing but a mutual emotional, psychological consensus of its users. It is simply a notion people assign value to because they agree to do so! One has to be familiar with quantum reality to feel comfortable and say" In Mathematics, We Trust"!

Here is an excellent current discussion ...
https://seekingalpha.com/article/442145 ... dollar-btc

[DefendTheTruth]

Horus,

ዛሬ አንድ ቦታ ላይ ጥሪ አርጌልህ ነበር፣ ለምን ብቅ ሳትል ቀረህ እዛ ላይ?

Until then I will try to straighten your misconception about IT (Information Technology) sometimes also referred to as ICT (Information and Communication Technology).

Blockchain is not beyond IT but a part of IT itself, in Blockchain and other similar fields the underlying idea is processing information (or you can also say processing data to generate information) and storing or transmitting, according to the end goal.

Software is the tool you use to do the job, software (SW) is a component of the information processing machine, the other important component is the hardware (HW). In the absence of the two there is no IT.

Similarly Blockchain and Bitcoin are not one and the same: one is a technology the other is the application on the basis of that technology.

Airplane is a technology and the use of airplane for a passenger flight and warfare are two of the applications of the same technology, just to give you an analogy.

Blockchain is a sort of decentralized information processing among a set of distributed information processing machines, cooperatively.

Those who invented Bitcoin used the technology as an application on the basis of blockchain.

The Ethiopian government has reportedly signed an agreement with a company working in the field to administer the students of different levels in the country, which I shared on this forum yesterday after reading it somewhere else on the internet. This is also another field of application of the same technology. There are many other applications of this technology in businesses and administration around the world in the fields of IT.

IT like every other science is also going through stages of development and the latest development stage is mostly known as Intelligence.

We used to process data to gain information and use the information to make (an optimal) decision up until the era of intelligence, but now the machine is not only generating the information but also takes over the decision making itself. This is what we call intelligence, sometimes also called in different names like maschine learning, for example.

I hope you didn't miss my contribution on this forum that I just dubbed the 4 Eras, did you?

[Horus]

ዲዲቲ
ስለምን እንደ ምትቀባጥር አይገባኝም። መጀመሪያ ከላይ የጻፍኩትንና ያያዝኩትን ድንቅ አርቲክል አንብብና የቤት ስራህን ስራ። ስለ መረጃ ቴክኖሎጂና ሰር ሰራሽ ኢንተለጀንስ አንተ አታስተምረኝም። ምንግዜም ከሰከርክ በኋላ ፎረም ላይ አትሞጫጭር ትርፉ ቅሌት ነው። ተመልስና የጽፍኩትን አንብብ፣ ከዚያም ያልገባህን ጠይቀኝ!!

[Tiago]

Interesting comment from Joe Breeze - Harvard University

"" Blockchain technology itself is a fad (technically a flawed architecture). The concept of a decentralized database is not. I’ve listed some of the issues with blockchain below:

. It’s not scalable. The more blocks added, the bigger it gets, and transaction speeds decrease. Buy a pack of gum with some bitcoins and it could take an hour for the transaction to go through.

. Attempts to make a blockchain scalable decreases its security, its performance, and becomes less “decentralized”. This is the nature of the architecture itself.

. The reason Bitcoin made blockchain a buzzword is because cryptocurrency was a good candidate for blockchain. All it needs to do is keep track of a simple transaction: user A -.010 BTC -> user B +.010 BTC. The advantage is not having to go through a middle-man for the transaction. That’s it. Try using a blockchain to move goods around. You still end up in the same “trust” situation as you did with Amazon or eBay.

. Since blockchain is just technology that anyone can implement, there will be hundreds of blockchain implementations (as we see now with the hundreds of coins available). They all do the same thing, and the only difference is that the currency might be used for something specific. Why would any consumer want to use more than one type of currency to buy and sell things? I mean, people can hardly tolerate currency exchange at the airport! On the other hand, a cryptocurrency might be a perfect candidate to fix that exchange problem! The questions is, what will the world agree on and will blockchain be the tech to use?

.The blockchain is not as secure as the buzz makes it out to be. Theoretically, a large, wealthy corporation could own over 51% of the nodes maintaining a public blockchain, which enables them to have control over all transactions.
Since blockchains can be implemented by anyone, those developers have control over the network. This generally removes the “de” from decentralized database. If a defect is found in the software, it could render the blockchain unsafe and force the developers to roll out a new one. This has happened with the Ethereum blockchain. A hacker exploited a smart contract (DAO) in the Ethereum blockchain which forced the developers to do a hard fork of the code, fix the problem, and introduce a completely new Ethereum blockchain. Again, taking the “de” out of decentralized database.

But again, blockchain and decentralized databases are two different things. Personally, I think blockchain will go away and get replaced with a much more robust system. Will virtual/crypto currency still be around? Absolutely! But the question is if the blockchain should be the tech to support it. I have my doubts based on the bullets above.
""

[gearhead]

Horus
ትውከትህን የደንቆሮ አውቃለሁ ባይነትህን የራስህን ቶፒክ ጀምረህ ብቻህን ለፍልፍ!! DT has a better grasp on the topic than definitional regurgitation that you put out, after an initial read on the issue! So too, in your zeal to appear as an authority, as you do with everything you mistakenly duplicated the same article i posted on the initial thread! If you are going to spend the time to read, and discuss,i engage in regulatory and valuation aspects of blockchain crypto specially if you can contextualize it with events in ethiopia. Behave!

DT, I am glad you corrected your misunderstanding regarding the use of AI center regarding blockchain finance. The intention is to blunt out the effect of inflation (in combination with energy/perishable commodity) factors and not as much to dethrone a currency...which in reality, not even china and india are trying to do. See the link above!

As to information on blockchain crypto, I am maxed out just tending to my nephew who has turned his basement into a mining farm. However, BLOCKCHAIN in logistics with potential to crunch shipping lead-time will be interesting to me.

Thank you!

ዲዲቲ
ስለምን እንደ ምትቀባጥር አይገባኝም። መጀመሪያ ከላይ የጻፍኩትንና ያያዝኩትን ድንቅ አርቲክል አንብብና የቤት ስራህን ስራ። ስለ መረጃ ቴክኖሎጂና ሰር ሰራሽ ኢንተለጀንስ አንተ አታስተምረኝም። ምንግዜም ከሰከርክ በኋላ ፎረም ላይ አትሞጫጭር ትርፉ ቅሌት ነው። ተመልስና የጽፍኩትን አንብብ፣ ከዚያም ያልገባህን ጠይቀኝ!!

[DefendTheTruth]

ዲዲቲ
ስለምን እንደ ምትቀባጥር አይገባኝም። መጀመሪያ ከላይ የጻፍኩትንና ያያዝኩትን ድንቅ አርቲክል አንብብና የቤት ስራህን ስራ። ስለ መረጃ ቴክኖሎጂና ሰር ሰራሽ ኢንተለጀንስ አንተ አታስተምረኝም። ምንግዜም ከሰከርክ በኋላ ፎረም ላይ አትሞጫጭር ትርፉ ቅሌት ነው። ተመልስና የጽፍኩትን አንብብ፣ ከዚያም ያልገባህን ጠይቀኝ!!

Horus,

ብገባህ ኖሮ ነበር የምደንቀኝ። ሰላልገባህ ይድነቀኝ አሁን?

I will not go down to your level and open my mouth with you, as someone who is unable to learn, a certain ignorant. This is what you wrote, among others:

I seem to agree with the prediction that we are now going beyond the age of Information technology and entering the era of Blockchain Technology (BT). BT is simply a software. It is a type of database used in various other fields other than currency and trade.

It seems that you were thinking about impressing others, just by trying to use some sort of acronym.

ዲሮስ ከአተላ ዳፊ ሌላ ነገር ምን ይጠባቃል?