The PoW Extinction Event within 10 - 20 years

GrandMasterDash

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I believe the crypto industry may experience a catastrophic blow, especially to ASIC mining. This means you should seriously consider selling / converting most of your crypto holdings before this PoW extinction event.

The largest nations will eventually mandate all electrical goods to be fitted with a Secure Element / TPM chips. Although some of these chips will talk via 5g / wifi, all of them will be talking directly over the power lines they are connected to. Think of it as an IMEI or MAC address for every electrical product. If the communication link is blocked / tampered with, the appliance will not work without significant hacking / impairment.

We have already seen how a diverse range of technologies from phones to door cams have been misappropriated to "protect us". Whether it's COVID, ransomware, terrorism or pedophiles, governments have long stepped over the mark. And now the seeds have been sown in the name of climate change. The propaganda about bitcoin mining and the environment will continue. Already we hear concerns about market "distortions" of video cards in GPU mining. We hear about power efficiency and consumption ratings when machines are idle. We hear how some of Nvidia's cards are forbidden for use in data centers. The reasoning behind all of this (or lack thereof) is not important, only that a certain narrative is being spoon fed to us. And when they are ready to pounce, they will say, "you already did X and Y, now you can do Z". And you will buy these appliances because they will be cheaper and convenient...

And then one day they finally flip the switch and they say, "we must all work together to fight climate change, we must limit our usage of gaming, or aircon, or washing machines". And then, just like net neutrality, goodbye power neutrality.

"We identified your computer was working too hard. Please save your work, your device is about to hibernate for two hours".

"Your bitcoin miner / dash masternode is using too much continuous power"

"Yes, some of our friends have devices that continue to work, this is to protect our infrastructure"
 
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Luckymac

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I think this is a good piece of advice the 'for your own good' technology is going to have limitations on what can be done. Interesting to see how the next 18months to 2 years go.
 

HeavLeighGill

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It’s scary to think about all of this. They don’t need to microchip us because most of us have our phones and other devices glued to our hands most of the time. I saw an advertiser saying that they watch us through the camera lense on our phone to see what we look at and where our eyes go when certain things pop up on screen, which is how Facebook and other apps are so good at showing us advertisements for things that we want. There’s no telling what we don’t know but I’m sure the government doesn’t like the privacy offered by cryptocurrencies, so it isn’t really reaching to think that they will probably come after it at some point.
 
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GrandMasterDash

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It’s scary to think about all of this. They don’t need to microchip us because most of us have our phones and other devices glued to our hands most of the time. I saw an advertiser saying that they watch us through the camera lense on our phone to see what we look at and where our eyes go when certain things pop up on screen, which is how Facebook and other apps are so good at showing us advertisements for things that we want. There’s no telling what we don’t know but I’m sure the government doesn’t like the privacy offered by cryptocurrencies, so it isn’t really reaching to think that they will probably come after it at some point.
Yes, though I am the rare person that actually leaves my phone at home most of the time.

Yes, these companies build tools that are creepy / immoral from an individual's perspective but as a company it gives them an edge to make money and to then take pride on how clever they are. Take, for example, google's location tracking based on audio from your environment.. opening up your mic without explicit consent and then identifying nearby devices e.g. another device playing tv / radio / youtube. Bam! VPN / ad-blockers rendered next to useless for protecting your location.

Or Amazon using Ring door cams, doing facial recognition and then getting tapped by the police to help them identity and track people. Or Ring using bluetooth / wifi to build tracking networks completely independent of your ISP. None of it fantasy, all here and now.

Gone are the days when you could build stuff like that for personal pleasure. Now it's all about exploitation to the nth degree. If it can be done, it will be done.
 

qwizzie

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Aug 6, 2014
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I am more worried about the threat quantum computers pose to blockchain encryption in the next 5 to 10 years.
Thats something that crypto projects (including Dash) should start working on / be proactive in (defense-wise).

 
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GrandMasterDash

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I agree, quantum computing could pose significant problems for dash, not least that it insists on being a publicly auditable chain i.e. all public keys in full view. I'm not an expert on this but from what I understand, this is the advantage of using MimbleWimble because a) transaction histories are not put on the blockchain, and b) the signing of transactions is done privately between individuals i.e. you've got to get your hands on the public keys / session keys before you can crack them. Dash should consider implementing MWEB (MimbleWimble Extension Blocks) like litecoin, or paying David Burkett to do it for us.

It might also be a good idea to gradually switch from X11 to a custom version of RandomX (monero) because it seems to me that a super generalized and random algo would be more resistant than Application Specific Integrated Circuit algos. Not least that I heard X11 has a relatively high collision rate, though I don't know how true that is.
 

GrandMasterDash

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@Swiss_cheese who knows, but my guess within 10 - 20 years. I'm thinking it would be a gradual process, starting with high energy consumption products then gradually trickling down.
 

cashisking86

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Aug 3, 2021
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It’s scary to think about all of this. They don’t need to microchip us because most of us have our phones and other devices glued to our hands most of the time. I saw an advertiser saying that they watch us through the camera lense on our phone to see what we look at and where our eyes go when certain things pop up on screen, which is how Facebook and other apps are so good at showing us advertisements for things that we want. There’s no telling what we don’t know but I’m sure the government doesn’t like the privacy offered by cryptocurrencies, so it isn’t really reaching to think that they will probably come after it at some point.
Yeah the die is cast already with tracking people etc. It stands to reason governments will come after cryptos that offer genuine anonymity down the line.