3 ms·

I'm in total agreement about the dangers here. It seems absolutely insane to institute these kind of untested changes on a production system. These belong in

by paulmd 9y ago

I'm in total agreement about the dangers here. It seems absolutely insane to institute these kind of untested changes on a production system. These belong in some other coin, not Ethereum. Furthermore it's insane that miners are just going along with this plan. They think since they hold Ethereum now that they will receive greater future rewards - but this is literally a parable that we warn our children about - "The Goose That Laid The Golden Eggs". http://www.mythfolklore.net/aesopica/perry/87.htm http://www.mythfolklore.net/aesopica/perry/87.htm If these changes were simply switched on then they would have absolutely no chance of standing, there would be an immense backlash. VB is exploiting social-engineering to push these changes with the whole "Ice Age" scheme. Gotta boil that frog slowly.

CryptoPunk 9y ago
Proof of Stake was part of the original plan for Ethereum. Everyone knew going in that it would transition to it. The entire development team, not just Vitalik, has agreed to use ice ages to encourage the entire community to hard fork, to prevent orphan chains from emerging every time one of these planned changes is implemented. It's unfair and inaccurate to describe the execution of a long-established plan that has been part of Ethereum since the beginning as some sort of nefarious plot being pushed through using manipulation.
- Taek 9y ago
  Does it really make sense to push an untested, highly criticized, and drastically different security architecture onto a live $20 billion system? Especially from a team that has a history of borking updates (Spurious Dragon)? If there was an ounce of sanity here you'd at least have a 12 month trial period in an altcoin to iron out the kinks.
  - DoubleMalt 9y ago
    Ethereum is the testing ground for Ethereum Classic ;)
  - nebabyte 9y ago
    Ethereum is not the first coin to use PoS.
    - petertodd 9y ago
      ...and other coins using it have run into severe problems. For example, Peercoin had to add a system of centrally managed checkpoints to avoid nothing at stake attacks: https://github.com/peercoin/peercoin/blob/fbc81b380221e55c94c50de979d910d68ce715f9/src/checkpoints.cpp#L70 https://github.com/peercoin/peercoin/blob/fbc81b380221e55c94...
      - blockson 9y ago
        bitcoin also has hardcoded checkpoints as well. so what's your point petertodd? if you feel there is a security concern or attack, you should properly elaborate your concern Peercoin has been running 5 years. What severe problems are you referring to?
  - CryptoPunk 9y ago
    When that was the original plan, yes. This space is about experimentation, not making safe asset classes for crypto Scrooges. And the PoS will be tested extensively before going live.

by paulmd 9y ago

CryptoPunk 9y ago

Proof of Stake was part of the original plan for Ethereum. Everyone knew going in that it would transition to it. The entire development team, not just Vitalik, has agreed to use ice ages to encourage the entire community to hard fork, to prevent orphan chains from emerging every time one of these planned changes is implemented. It's unfair and inaccurate to describe the execution of a long-established plan that has been part of Ethereum since the beginning as some sort of nefarious plot being pushed through using manipulation.

Taek 9y ago
Does it really make sense to push an untested, highly criticized, and drastically different security architecture onto a live $20 billion system? Especially from a team that has a history of borking updates (Spurious Dragon)? If there was an ounce of sanity here you'd at least have a 12 month trial period in an altcoin to iron out the kinks.
- DoubleMalt 9y ago
  Ethereum is the testing ground for Ethereum Classic ;)
- nebabyte 9y ago
  Ethereum is not the first coin to use PoS.
  - petertodd 9y ago
    ...and other coins using it have run into severe problems. For example, Peercoin had to add a system of centrally managed checkpoints to avoid nothing at stake attacks: https://github.com/peercoin/peercoin/blob/fbc81b380221e55c94c50de979d910d68ce715f9/src/checkpoints.cpp#L70 https://github.com/peercoin/peercoin/blob/fbc81b380221e55c94...
    - blockson 9y ago
      bitcoin also has hardcoded checkpoints as well. so what's your point petertodd? if you feel there is a security concern or attack, you should properly elaborate your concern Peercoin has been running 5 years. What severe problems are you referring to?
- CryptoPunk 9y ago
  When that was the original plan, yes. This space is about experimentation, not making safe asset classes for crypto Scrooges. And the PoS will be tested extensively before going live.