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Why Mining Variance Matters

Miners join pools mainly to reduce the variance of their returns. But if the expectation is unchanged, why does variance matter so much? A look at the risk math of...

Preventing Mining Pool Concentration with Lamport Signatures

A minimal change to the Bitcoin protocol that could discourage mining-pool concentration — having miners generate Lamport signatures instead of block hashes — without penalizing existing ASIC investments.

Dispelling some myths about Bitcoin, from a Bitcoin fan

Dispelling misconceptions common even among people who know Bitcoin well — starting with what hashing power actually buys you: security through expensive, irreversible spending, not transaction throughput.

Un ordinateur a-t-il vraiment réussi le « test de Turing » ?

Un programme informatique viendrait de réussir le test de Turing. Les médias en ont fait une nouvelle sensationnelle — mais qu'en est-il vraiment ? Retour sur Turing et la valeur...

Blind experiment

Double-blind studies are the gold standard in medicine. I contend they should be triple-blind. The statistician analyzing the data should be given anonymized, whitened, normalized data from the experiment and...

Reputation networks and branding

I can think of a couple of things that branding achieves: