This document discusses two approaches to peer-to-peer data mining: local algorithms and the Newscast model of computation. Local algorithms perform computations using only local communications between neighbors. The majority voting problem is presented as an example of an exact local algorithm. An approximate local algorithm for K-means clustering over a P2P network is also described. The Newscast model is then introduced as an alternative approach based on a gossip protocol that continuously rewires network connections, allowing data mining primitives to be computed in a decentralized manner even as the network dynamically changes.