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273

Why Smart People Have Bad Ideas

April 2005 This summer, as an experiment, some friends and I are giving seed funding to a bunch of new startups. It's an experiment because we're prepared to fund younger founders than most investors would. That's why we're doing it during the summer—so even college students can participate. We know from Google and…

284

Nothing is Cheaper than Proof of Work

I previously wrote a post on proof of work (PoW) and mining . The first half generated great interest but (apparently) failed to be universally persuasive. For example, CCRG (Ethereum’s multi-million dollar funded “research” organization) consists almost entirely of academics theorizing about proof of stake (PoS) .

298

Zawinski's Law

“ Every program attempts to expand until it can read mail. Those programs which cannot so expand are replaced by ones which can. ” Coined by Jamie Zawinski (who called it the “ Law of Software Envelopment ”) to express his belief that all truly useful programs experience pressure to evolve into toolkits and…