How can volunteer-built software compete with for-profit business?
The notion that Bitcoin is infrastructure for a nascent market of volunteer-built software services is original to the Iterative Capital investment thesis, but how does this future look in practice? Exhibit A: Sourcecred, a project by Protocol Labs that uses a modified PageRank algorithm to rank and score contributions to a given open source project, and to dole out payments accordingly to the contributors. Read more below.
"SourceCred aims to empower open-source developers and communities by creating a project-specific reputation metric called cred.
A project’s contributors earn cred for helping out. For example, a project might reward:
Triaging issues Maintaining the build Fixing bugs Writing documentation Refactoring code Adding features
SourceCred will build social capital within communities, recognize their hardworking contributors, and encourage more people to help maintain and develop open-source projects."
Racing Against China, U.S. Reveals Details of $500 Million Supercomputer
"The supercomputer, called Aurora, is a retooling of a development effort first announced in 2015 and is scheduled to be delivered to the Argonne National Laboratory near Chicago in 2021. Lab officials predict it will be the first American machine to reach a milestone called “exascale” performance, surpassing a quintillion calculations per second. That’s roughly seven times the speed rating of the most powerful system built to date, or 1,000 times faster than the first “petascale” systems that began arriving in 2008."
Admiring the Problem
"Because admiring the unsolvable problem is one of the missionary’s most powerful tools. This isn’t rocket science. The oldest game in sales (ok, maybe the second oldest) is to find your customer’s biggest problem and tell them that you have a solution. This is a good business when that problem has a solution, but it’s a great business when it doesn’t."
XRP Sentiment Manipulated by Thousands of Bots, Analyst Claims
"Now, a few reports from independent researchers have concluded that there are thousands of phony accounts or bots on social media being used to manipulate XRP sentiment. In fact, Geoff Golberg has spent a lot of time studying XRP-related bots and phony accounts on Twitter and first revealed his findings last year."
The 10 countries with the highest inflation— Valentin Schmid (@vxschmid) March 20, 2019
#BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @SqCrypto. Why?— jack (@jack) March 20, 2019
After 1 year of studying lightning I proudly released 200+ slides explaining the BOLTs. This is to structure my thoughts for the #lightningnetwork book project. https://t.co/WWNJtE1GsU due to health issues #PTSD I will be in the hospital until June. No content/videos 'til then ;( pic.twitter.com/lYO42lg8li— Rene Pickhardt (@renepickhardt) March 20, 2019
Reverse submarine swaps are one of many applications and swap types that can be built on HODLHTLC. I’m not sure everyone will love the idea of pushing timelocks to the limit but there is no consensus or policy layer to stop this. Everyone runs their node how they prefer to run it https://t.co/OzmD4rZBde— Alex Bosworth ☇ (@alexbosworth) March 20, 2019
Ethereum is shaping up for a possible fork war, a stand-off between users (savers) & corporations. For some background on Bitcoin's 2017 B2X fork war, see @AaronvanW: https://t.co/CaTpmiXcMy https://t.co/q4qNsYinBL— Tuur Demeester (@TuurDemeester) March 20, 2019
This will break a lot of dapps... pic.twitter.com/mgZ4jGyVnb— timd (@TimDaub) March 20, 2019
ProgPoW is Ethereum's New York Agreement. A bunch of self-interested companies and their lobbyists pushing for changes that serve their bottom line, no matter the longterm consequences.— Hasu (@hasufl) March 19, 2019
Ethereum EIP seeks 20% developers’ reward akin to Zcash.— lawson : baker (@lwsnbaker) March 20, 2019
In the age of “fair launches” that forgot to pay developers + Moloch attempts to entice donations, it’s clear that people finally get that paying miners is not enough for long term sustainability of open-sourced projects. https://t.co/NkNbAm2ruR
Ten years into economic expansion, unemployment near 50 year lows, rates still near historic lows, Fed balance sheet 4x normal and the Fed thinks we need stimulus.— Michael Lebowitz, CFA (@michaellebowitz) March 20, 2019
Announcing Lightning Loop Alpha: An Easier Way to Receive on Lightning
"Lightning channels are like tubes of money: the more you send the more you can receive, and the other way around. Money moves around in the tube, but the total amount of funds remains constant. So, unlike other payment systems, Lightning requires “inbound capacity” in order to receive funds. This initial release focuses on on the ability for people to receive with what we call Loop Out. Lightning Loop Out allows users to increase their receiving capacity by offloading their funds from the network while keeping channels open."
PoS systems can only have so many validators before validators can no longer communicate w/ each other efficiently.— Spencer Noon (@spencernoon) March 20, 2019
This isn’t a problem for networks w/ concentrated supplies but what about those w/ low Gini co’s (e.g. $ETH)?
A: introduce randomness to fairly sample validators. pic.twitter.com/MTdCTscPmE