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Revolutionary p2p currency

Blogs > Alejandrisha
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Alejandrisha
Profile Blog Joined July 2010
United States6566 Posts
Last Edited: 2013-05-14 21:56:24
May 14 2013 03:03 GMT
#1
Unless you've been under a rock for the past few years, you've heard of the new wave of decentralized cryptocurrencies that have gained a semblance of traction. Bitcoins, Litecoins, Namecoins, the list goes on. The premise is the same: a transition from storing purchasing power within banks to storing it within the hard drives of individuals, securely encrypted and completely independent of any regulation. Consequently there is no public record of transactions, and false transactions are more difficult to contrive. Even in its infancy, the front-running cryptocurrency, Bitcoin, currently trades at the rate of $116 USD at the time of this post and the total value of Bitcoins traded in the network comes to about $1 billion USD.

But even more revolutionary is the new wave of Calligricurrencies made possible by the groundbreaking science of calligraphology. Similar to the way Bitcoin transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the p2p Bitcoin network, calligricurrency transactions involve a skilled calligraphist creating from scratch a unique block of 256 handwritten symbols, letters, and numbers which is verified at the point of transaction for its craftsmanship. If the recipient calligraphologist deems the block worthy enough to be accepted by the calligraphology community at large, he accepts it at face value.

Here is an example of one such block:

[image loading]


The calligricurreny craze has led to an unprecedented, astronomical shock in the demand for calligraphers around the globe. An unintended consequence is that many hobbyists no longer see their own calligraphology pursuits to be viable. "Calligraphology is dead," touts disillusioned part-time calligraphologist Robert Shortfeather. "I used to be able to print my own blocks and make a nice profit before the big guys started employing dedicated hand-writers to churn them out." And according to multiple other credible sources on the matter, such is exactly the case. As calligraphologists have begun to develop more efficient methods to generate blocks, their rigs have become more extravagant. Below is one such apparatus in which one calligraphology entrepreneur was able to harness the composition power of nearly 100kb/m, or 100,000 blocks per month:

[image loading]


Not unlike other p2p currencies, calligraphology has its skeptics. There are those who say simply cutting a piece of paper into smaller pieces of paper with a pair of scissors is not an acceptable way to make change. And still others who claim that the bubble will burst whence the demand for additional blocks causes the overall quality of blocks to fall, and then the good blocks will drive the bad blocks out of circulation.

Thankfully, I was able to arrange an interview with renowned calligraphologist Billiam Bigsworthy to clear the static. "Other p2p currencies preserve their worth and stability by capping the number of units that can ever be generated," he droned, twirling one of the handlebars of his mustache this way. "The nature of Calligraphology prevents the implementation of similar methods, but fortunately there is another mechanism in place. As more blocks are generated, the standard for acceptable blocks will steadily raise over time."

After a beat, I asked, "doesn't that mean the blocks that fail to meet the rising standard will no longer be accepted as tender?"

"Sure, but the paper it's printed on may still be burned for fuel."

Bigsworthy showed me his own collection of various calligricurrencies: a handful of Charles Dickoins, a couple Edgar Allen Pounds and a single Shakesphere.

****
get rich or die mining
TL+ Member
hp.Shell
Profile Blog Joined April 2010
United States2527 Posts
May 14 2013 03:36 GMT
#2
hehe, cute.
Please PM me with any songs you like that you think I haven't heard before!
WombaT
Profile Blog Joined May 2010
Northern Ireland27387 Posts
May 14 2013 03:39 GMT
#3
Interesting blog, you have any further resources on this that you'd think are worth a read Alej?
'You'll always be the cuddly marsupial of my heart, despite the inherent flaws of your ancestry' - Squat
TL+ Member
Alejandrisha
Profile Blog Joined July 2010
United States6566 Posts
May 14 2013 03:45 GMT
#4
On May 14 2013 12:39 Wombat_NI wrote:
Interesting blog, you have any further resources on this that you'd think are worth a read Alej?

i find cryptocurrencies fascinating and i have been reading everything i can about them the past few weeks. i recommend the horse's mouth:

http://bitcoin.org/bitcoin.pdf

and if you consider mining yourself i'd head here + Show Spoiler +
https://bitcointalk.org/index.php?topic=28402.0


as for the science of calligraphology, i sadly have no additional resources :D
get rich or die mining
TL+ Member
RemarK
Profile Blog Joined April 2011
United States452 Posts
May 14 2013 03:50 GMT
#5
motherfuckin bitcoins nigga
I <3 StarCraft.
WombaT
Profile Blog Joined May 2010
Northern Ireland27387 Posts
May 14 2013 04:25 GMT
#6
Cheers for the links, shall check them out
'You'll always be the cuddly marsupial of my heart, despite the inherent flaws of your ancestry' - Squat
TL+ Member
3772
Profile Joined May 2010
Czech Republic434 Posts
May 14 2013 16:34 GMT
#7
All transactions are public. It's used for things like Silkroad because there isn't anything connecting a person to an account.
WalkinDead
Profile Blog Joined February 2013
88 Posts
May 14 2013 17:04 GMT
#8
eh...I prefer my cash cold and hard...and real
hp.Shell
Profile Blog Joined April 2010
United States2527 Posts
May 14 2013 17:49 GMT
#9
That calligriblock looks like Georgian.
Please PM me with any songs you like that you think I haven't heard before!
Alejandrisha
Profile Blog Joined July 2010
United States6566 Posts
May 14 2013 21:52 GMT
#10
On May 15 2013 02:49 hp.Shell wrote:
That calligriblock looks like Georgian.

if by that you mean a lot of the letters look like butts, then yes, i'd have to agree with you
get rich or die mining
TL+ Member
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