Back to the grindstone.
I find all of the current speculation around the Blockchain very interesting from a philosophical point of view but completely irrelevant technically. The difficulty that many of the pundits seem to miss is that voting comes exclusively to those with an interest and it is not made on a one-to-one basis by the individual but by the control of hashing power.
Some of this voting capability comes from miners who have an interest in selling quickly. They are constrained by short-term capital requirements and the need to satisfy public investment. Even when they are venture capital funded may have requirements to divest.
In these scenarios, the voters one of marketplace reflection. The miner looks to the maximisation of short-term profitability and votes along those lines.
Of more interest is that of the long-term highly capitalised private investor. These are ones no one talks about. The ones that can hold bitcoin for the long-term. Right at the moment, a depressed market is actually a long-term buying opportunity. In these instances it becomes possible to hedge against the long-term valuation of bitcoin by using it in escrow or as a security interest.
In any event, my interest has always been long-term. As the prototypical anti-Keynesian capitalist I do not look to the long-term statement of death but rather the continuing reinvestment. The issues were Blockchain forks are nothing new. They have occurred several times before and will occur and be rectified again. The world does not end.
I of course remain the bitcoin maximalist that I have always been. The nature of the Blockchain is one that allows only a single entity. It is a distributed entity but just the one that is used as a backbone for everything. This is a good thing. We only really want one ledger, one basis of reality and what we get in a single Blockchain is the maximal amount of security that we can achieve.
I am going to go back to writing and am going to talk more about some of the research have been doing over time. This time however, I am doing things for me. I am writing for me and I am researching for me. I am particularly uninterested in those who decide that this is a selfish pursuit as they benefit from the research I am doing and providing. I really don't care who reads this and nor will I justify myself.
Since purchasing and building my first supercomputer in 2012 I have managed to obtain a license for a core banking platform including source code. This was completed in 2013. For all the flaws in the existing banking models there are many problems that have already been solved. Interestingly, if we take the best aspects of banking and move these into a more resilient ledger system that is distributed without the need for centralised trust we find we create the foundations of a system that will enable a truly global commercial platform without the requirements that seem to play into the hands of regulators.
In the past six years I have managed to both make myself unemployable in some sense and semblance of a word as well as removing the need to ever be employed in the traditional sense. This has been an interesting dichotomy and one that has taken me time to come to adjust to. In this, I have decided to not only continue my research but to go back to formal study. I spent the last two years outside of the university environment in many senses of the word. I have missed it. So, as well is working I will be back to formal study in the New Year.
On block size
This current argument is interesting from a purely philosophical point of view but the reality of the scenario is that very few of the pundits making any of the comments have any true say in what will occur. Bitcoin is based on a voting system but is voting against investment.
For those investors and miners who have a short-term focus, it is simple to see that their views will simply mirror a larger marketplace. Long-term, they are irrelevant.
The real determinant here is not venture capital or as I prefer to call it vulture capital nor any amount of US investment, but long-term private capital. The present market state is one of the depressed value. To the investor with a long-term outlook this actually has several beneficial properties. Then, private investors do not need to report their plans to the wider market. They can seek to hold capital value over the long-term.
In this scenario, even a mining interest need not be disclosed. The distributed miner who does not sell but rather seeks to accumulate does not need to leave any trace.
On my ramblings
These thoughts about my own. Your agreement is not necessary and nor are your opinions.
For the first time, I am truly in a position where I do not need to kowtow to the beliefs of others, to their desires or to their view of what I should be.
I have a little over 6 million lines of source code for everything from statistical programs to core banking and now I have a global team and private individuals with the ability and skill set to ensure my vision. Add to that, personal control and ownership of the 15th largest supercomputer on the planet and I must say that I am in a relatively good position.
For the first time in around three years I will be going back to doing industry certifications and adding a few more degrees. I also do not need to ever worry about my research again. I never need to ever fill out an application to a university begging for access to the resources that I need. I can happily go along my path, one that doesn't follow the normal status quo, and disrupt anything I wish.
So, going forward, I have to say that I am enjoying things now. I love that no one knows what the hell I'm doing. I love that I can spend my days coding and researching. I love that I can research and not have to spend half of my time justifying why something that is not the way we have always done things is better.
Most of all, I love sitting back and watching all the theatre that comes from people who have no interest in a real sense. Those who sit on the proverbial sidelines and yet say how things should be.
Clear as mud and as vague as always but as I stated I never really cared if my audience likes what I have to say. All I care for is a quality of the product to produce and whether it is used.
Friday, 4 September 2015
Back to the grindstone.
Posted by Craig Wright at Friday, September 04, 2015
Sunday, 10 May 2015
THE DEMORGAN LTD GROUP OF COMPANIES TO RECEIVE UP TO $54 MILLION FROM AUSINDUSTRY R&D TAX REBATE SCHEME
Australia’s fastest Top500 HPC is dedicated to Cryptocurrency and smart contract research
Posted by Craig Wright at Sunday, May 10, 2015
Sunday, 26 April 2015
Posted by Craig Wright at Sunday, April 26, 2015
Monday, 24 November 2014
I am interested in talking with people in the community concerning Super Computer security. In particular, forensics and incident handling.
I run the organisations that manage two existing Top 500 (Top500.org) systems.
Nothing that exists really cuts it right now. Memory forensics... When Terra-bytes are involved forget it. Disk, try finding something that can handle Hundreds of PetaBytes.
This is a call for interested people in the community.
I would like to hear from suitably qualified people. One thing I have learned in my time is it is not if but when. Right now, there is no preparation as there is nothing that really scales.
If you would like to have access to a Rocks Cluster Super Computer. If you would like to create something new in CUDA and Xeon Phi architectures, then please do get in touch.
We will be awarding a number of proposals for time on our systems for people to test their hypothesis.
Posted by Craig Wright at Monday, November 24, 2014
Friday, 31 October 2014
It has been a while and I will vanish from this blog again once I start on the work one.
Busy is an understatement right now. But we do have systems up and running. I have completed the process of moving the old cluster to the new one.
Posted by Craig Wright at Friday, October 31, 2014