BitCoin: Will digital currency calculations lead to price inflation for "free" Internet services?
I skimmed this article, but do not get a warm fuzzy feeling. Does the suggestion that distributing the vast processing requirements of cryptocurrencies into our daily life just mean that the things we get for free will suddenly be competing against a profit center for computer cycles?
https://techcrunch.com/2017/01/08/the-future-is-a-decentralized-internet/
And does this imply that a heavy load on crypto calculations will cause a general slowdown of the web? And if currency computations take precedence, what is the worst case possible scenario?
https://techcrunch.com/2017/01/08/the-future-is-a-decentralized-internet/
And does this imply that a heavy load on crypto calculations will cause a general slowdown of the web? And if currency computations take precedence, what is the worst case possible scenario?
ASKER
My research is only looking "down the road," actually. It seems that the 1,000 pound guerrilla is the enormous number of processes needing to be solved for Bitcoin, and there will be a cost to distribute that, even if distributed widely. And if they incentive one web behavior over another, the un-lucky ones will pay for services that otherwise may be free.
True?
True?
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ASKER
thanks
You are welcome. I know I take a skeptical eye to this stuff but I think you and I are safe for quite a while. Thanks.
Bitcoin mining uses dedicated, off-line server farms. The internet communications required to support these calculations will be insignificant.
I do not believe there is any near term threat and further, that if a threat begins to materialize, people (via governments) will work to ensure the internet remains available to all.
I would not panic if I were you. File this one in "something to consider down the road"