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Set Up Private Blockchain With Ethereum

posted by Fnord666 on Wednesday November 01 2017, @07:46PM   Printer-friendly
from the create-your-own-fiat-currency dept.

MrPlow writes:

Submitted via IRC for AndyTheAbsurd

I don't think it needs introduction about the current hype that is going on with Blockchain, bitcoin, Ethereum and other initiatives. To get more feeling about what it is and how it works I decided to have a go with Ethereum as it promises to be a possible disruptive solution for lots of different use cases. Without going into the theoretical background of Blockchain or Ethereum (there are already lots of docs written about it) this post will focus on how I set up a private Ethereum network on my MacBook. I will use Docker containers as Ethereum nodes and use Mist browser on my Mac to 'connect' to the private network.

Source: https://pragmaticintegrator.wordpress.com/2017/10/28/set-up-private-blockchain-with-ethereum-part-1/

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  • (Score: 2) by MichaelDavidCrawford on Wednesday November 01 2017, @08:47PM (3 children)

    by MichaelDavidCrawford (2339) Subscriber Badge <mdcrawford@gmail.com> on Wednesday November 01 2017, @08:47PM (#590758) Homepage Journal

    I have an argument for the perpetually increasing value of bitcoin. My understanding is that there is a limit to the total number of coins that can be mined, but more and more people are "investing" in it. Also my understanding is that it gets harder and harder to mine. Sometimes someone will die or be incapacitated without telling anyone their wallet password, thereby removing coins from circulation. There was a cautionary video on Facebook by a young woman who made a lot of money on bitcoin - but forgot her password!

    An argument for decreasing value of bitcoin is that cryptocurrencies are increasing in number. The ones I have heard of are bitcoin, ethereum, litecoin and ripple. These will draw "investors" away from bitcoin.

    A really cool get-rich-quick scheme is to invent a new cryptocurrency, mine yourself a zillion coins then convince everyone else to put it into common use.

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  • (Score: 2) by takyon on Wednesday November 01 2017, @08:57PM (1 child)

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Wednesday November 01 2017, @08:57PM (#590763) Journal

    A really cool get-rich-quick scheme is to invent a new cryptocurrency, mine yourself a zillion coins then convince everyone else to put it into common use.

    Nobody has ever thought of that one.

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    • (Score: 5, Informative) by Snow on Wednesday November 01 2017, @09:24PM

      by Snow (1601) on Wednesday November 01 2017, @09:24PM (#590772) Journal

      Haha, true that!

      MDC, check out https://coinmarketcap.com/ [coinmarketcap.com]

      They don't even list all coins, and they have over 1200 coins listed. All but /maybe/ 5 are complete shit.

  • (Score: 0) by Anonymous Coward on Thursday November 02 2017, @02:07AM

    by Anonymous Coward on Thursday November 02 2017, @02:07AM (#590838)

    Well since you can trade fractions of a coin there really ISN'T a limit! Just keep inflating the price and dividing by whatever number makes your bank account bigger.