Centralized payments are a powerful force for centralization of the web, creating platforms for content and services that are centralized around a payment processor/aggregator. What happens when payments themselves become decentralized? The nexus of centralization dissolves and the content platforms can become decentralized too. In this talk presented at the Los Angeles Bitcoin Meetup, Andreas examines the impact of payments and the re-decentralization of the web.
Chapters
0:00 Why has mining centralized in China?
2:01 What happens when you build a lot of generation capacity but no distribution network?
3:35 What could you do with the excess capacity? What do you do with the electricity that would otherwise get wasted?
Keywords/phrases: Mining centralization is the result of the hash rate's rapid acceleration, going from CPU mining to ASIC mining to catch up with Moore's Law. There a reasons mining has centralized in China. They have experienced enormous growth in electricity generation in the last twenty years but with poor distribution networks, so there is a lot of extra capacity that is wasted. If you have an excess of electricity generation, you can either turn it back off (which can take several hours) or you make money mining during the lull in demand. One Chinese mining farm partnered with a hydroelectric plant in a tiny village. Bitcoin is a battery, it is an energy storage mechanism. The current incentives are to keep mining in China. There's a disparity between political power and electrical power. This represents the best of entrepreneurial capitalism in a country that desperately needs it, which we should applaud them.
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https://aantonop.io/joinaantonopytAbout the Site π
This site provides links to random videos hosted at YouTube, with the emphasis on random. π₯
Origins of the Idea π±
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. π§
Challenges Faced π€
Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. π
Creating Truly Random Links π οΈ
The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube πΊ
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. π
Content and Users π΅
Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
Monetization and Impact π€
YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. π
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