Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by cardanome on Monday February 15, 2021 @05:25PM (#26148355)

Ripple has still the fifth biggest market cap.

If you look at the five biggest coins by market cap (excluding USDT which is just digital Dollar) then three of them use proof of stake, Cardano, Polkadato and Ripple. Ethereum is actively transitioning to proof of stake.

Bitcoin is the ONLY outlier. Though also the biggest market.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by galangalalgol on Monday February 15, 2021 @05:51PM (#26148668)

I'm old and clueless. Is proof of stake related to anonymity in any way? I read something about dealers in contraband switching from btc to monero among others for that reason.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by hulahoof on Monday February 15, 2021 @09:11PM (#26150148)

No, anonymity for the users is generally separate from the consensus algorithm. XMR, at least when I was mining it many years ago, was more about preventing leakage of wallet, funds info to every person you transacted with - and is probably the gold standard in anonymous transactions - which is why it's price is so stable.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by Geee on Tuesday February 16, 2021 @08:01AM (#26153439)

Ripple is not proof-of-stake. It uses traditional consensus with trusted validators. It's basically a fiat currency that is run by a corporation to benefit them.

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