@BitcoinPierre
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Riot already has excellent hardware research! Just covering all the bases
Because Riot is publicly traded, anything like this would be officially communicated by the company directly.
That's fair, I see God's creation as the absolute ultimate proof of work.
That's a good point, I tried to be concise in my answer but I was indeed convinced both by the utility of belief and by logical + empirical evidence. The clearest evidence to me was introspective observation of the existence of my own soul, its relationships, and its reactions.
I'll still be doing a wide range of bitcoin R&D, including Lightning!
hyperbitcoinization started October 2008, change my mind
Greed motivates people to learn more than any other factor, but if left unchecked greed turns into avarice and leads to scamming.
  1. Transaction fees are often seen by bitcoiners as important for finality ("security"), replacing the block subsidy, or censorship resistance. But in my view empirically they've been most important for congestion control and incentivizing Lightning development.
  2. Most bitcoiners are proponents of "protocol ossification", whereas I look at protocol changes with many questions in mind:
a. Is it a softfork? b. How many lines of code or how much engineering complexity is it adding to implementations? c. What is the impact on node operator cost? d. What is the end-user value of the change? e. What other changes is this competing with in priority?
Macro trends take decades, not months or years, to come to fruition.
More prosperous and free than today's world, thanks to bitcoin!
I think it's generically true of any business that long term profits get compressed due to competition and technological innovation, so all companies are constantly having to refresh and reinvent themselves.
I had been an advisor for Riot for the past 3 years, they approached me at a conference in NYC after I spoke about what bitcoin maximalism is. I've been impressed by their urgency in execution and laser focus on bitcoin mining!
Lots of bitcoin and mining topics I'm excited to dig into:
Proof of work versus proof of stake Transaction fee predictions Block subsidy purpose Long term security Hashprice history Supply audit follow-up Data-usage audit SegWit and Taproot adoption Reorgs Output value, spending amount Velocity of outputs Mempool competition RBF and CPFP usage Softforks Tracking "blocks needed to close all open Lightning channels"
Before bitcoin I was a gold bug (though I only owned a couple of silver coins because I was a broke college student). When I heard about bitcoin's 21 million supply cap at the end of 2012, a light bulb went off and I started going down the rabbit hole, reading and writing about bitcoin: https://nakamotoinstitute.org/authors/pierre-rochard/
I've seen data suggest that the capital gains tax issue is a major problem, so getting a de minimis exemption in every jurisdiction would be the next big step.
But I also think there is no "next big step", in the sense that we're at the "1 to N" stage of adoption, lots of small iterative steps.
Great question. I learned that it's really important to thoroughly specify and align on the exact role and resources you'll have before joining a company. Don't just meet with the hiring manager and a peer, also meet with the major stakeholders you'll be working with to make sure they're all exactly on the same page with regards to mission and culture.
Proof of work versus proof of stake Transaction fee predictions Block subsidy purpose Long term security Hashprice history Supply audit follow-up Data-usage audit SegWit and Taproot adoption Reorgs Output value, spending amount Velocity of outputs Mempool competition RBF and CPFP usage Softforks Tracking "blocks needed to close all open Lightning channels"
Not your keys, not your bitcoin. Using a custodial Lightning node with a small amount of value is low risk, but don't use it as your long term savings solution.
  1. Putting more capacity towards peers that "prove" themselves great routers, closing channels that are "unproductive".
  2. Running experiments with peer selection, especially using betweenness centrality measures.
  3. Hardware resource usage is negligible, personally I had a node with hundreds of channel on a retail i5 laptop. Any mid-range server could probably do thousands of channels.
  4. Private channels can be expensive for a routing node to have, I think they're really best for full-fledged LSPs who are charging the end-user wallet for the private channel.
  5. IMO a day offline is too long, close the channel.
  6. I think it would make sense to have both a clearnet and a tor node.