3 ms·

It does not feel right, does it?

by zxcb1 7y ago

dfischer 7y ago
I had a vision once – Facebook invented true AGI and life as we know it is a simulated reality thanks to that AI. Oh well.
tgragnato 7y ago
> 27 fellow Silicon Valley titans [...] to operate as preliminary “validator nodes” What could possibly go wrong?
- buboard 7y ago
  some other cryptos have similar oligarchy model, e.g. stellar
  - tgragnato 7y ago
    The oligarchic model offers considerable savings (less computational and energy waste). It's understandable why it's tempting. But I think that the consensus protocol of Stellar looks a lot more like a sweet spot: it has different levels of participation to the network, each of which gives different incentives, requirements and use cases. > https://www.stellar.org/developers/stellar-core/software/admin.html#level-of-participation-to-the-network https://www.stellar.org/developers/stellar-core/software/adm... My criticism is specific to this particular implementation (and management).
- Spivak 7y ago
  Is this really any different than your ability to buy things in-practice gated nigh exclusively by MasterCard and Visa? It sounds less like a dystopia and more like the tech sector and payment processors have been collectively itching to escape the current banking system.
  - tgragnato 7y ago
    If there is one thing I learnt is that using a techno-bubble elite speech you can cover up a large number of loopholes, fraud schemes, ... Regulators and prosecutors know payment processors extremely well; once you start using another language they're partially unable to compute. In this sense the choice of initial validators alarms me. Trust is something that must be earned: it's different because I know the evils of the system I'm using, I don't know the evils of this system and it might be worse. ...worse... > In light of this, Facebook aims for the project to be fully “permissionless” — rather than permissioned, where membership of the Association is only granted to a select few —after five years and transition to a proof of stake network. "me looking at the GitHub repository": there's a lot of technical debt that needs to be addressed, where is the design for this stuff? A "we'll fix it" is not enough, certain issues require a lot more work than code development.

It does not feel right, does it?

by zxcb1 7y ago

It does not feel right, does it?

I had a vision once – Facebook invented true AGI and life as we know it is a simulated reality thanks to that AI. Oh well.

tgragnato 7y ago

> 27 fellow Silicon Valley titans [...] to operate as preliminary “validator nodes” What could possibly go wrong?

buboard 7y ago
some other cryptos have similar oligarchy model, e.g. stellar
- tgragnato 7y ago
  The oligarchic model offers considerable savings (less computational and energy waste). It's understandable why it's tempting. But I think that the consensus protocol of Stellar looks a lot more like a sweet spot: it has different levels of participation to the network, each of which gives different incentives, requirements and use cases. > https://www.stellar.org/developers/stellar-core/software/admin.html#level-of-participation-to-the-network https://www.stellar.org/developers/stellar-core/software/adm... My criticism is specific to this particular implementation (and management).
Spivak 7y ago
Is this really any different than your ability to buy things in-practice gated nigh exclusively by MasterCard and Visa? It sounds less like a dystopia and more like the tech sector and payment processors have been collectively itching to escape the current banking system.
- tgragnato 7y ago
  If there is one thing I learnt is that using a techno-bubble elite speech you can cover up a large number of loopholes, fraud schemes, ... Regulators and prosecutors know payment processors extremely well; once you start using another language they're partially unable to compute. In this sense the choice of initial validators alarms me. Trust is something that must be earned: it's different because I know the evils of the system I'm using, I don't know the evils of this system and it might be worse. ...worse... > In light of this, Facebook aims for the project to be fully “permissionless” — rather than permissioned, where membership of the Association is only granted to a select few —after five years and transition to a proof of stake network. "me looking at the GitHub repository": there's a lot of technical debt that needs to be addressed, where is the design for this stuff? A "we'll fix it" is not enough, certain issues require a lot more work than code development.