4 ms·

> What is the equivalent of parasites in blockchain-land? It’s the people insinuating impropriety of Proof-of-Work mining in the hopes of less than transparent

> What is the equivalent of parasites in blockchain-land? It’s the people insinuating impropriety of Proof-of-Work mining in the hopes of less than transparently promoting a competing premined/ICO’d Proof-of-Stake cryptocurrency sans any form of disclosure statement. You know, the sort of thing that’s been plaguing the cryptocurrency space for a good, solid decade now?

pazimzadeh 6y ago
Aw buddy. You couldn't spare putting $100 in the Ethereum pre-sale? Anyway I'm not talking about direct competition, I'm talking about parasitism.
- atweiden 6y ago
  > I'm talking about parasitism. Much if not all of the anti–Proof-of-Work narrative and the debunking thereof can be characterized by Brandolini’s law [1]. ITT “Sure, the overwhelming majority of `$COIN` was premined by insiders or sold to prestigious investors for pennies in exclusive pre-ICOs, but look over there — Bitcoin mining is oh-so-unfair. Disclosure statement? What’s that?” All the financially-motivated disbursal of misinformation takes a considerable amount of time to debunk, hence the parasitism component. [1]: https://en.wikipedia.org/wiki/Brandolini%27s_law https://en.wikipedia.org/wiki/Brandolini%27s_law
  - pazimzadeh 6y ago
    10% is not a majority. I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.
    - atweiden 6y ago
      > I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one. “On day one” it was possible to CPU mine Bitcoin on any ordinary Windows PC using a freely available open source GUI application.
      - pazimzadeh 6y ago
        To this day the UI for just sending transactions is pretty bad, so I can't imagine how bad it was on day one. I am interested to see a screenshot, if you could share.

pazimzadeh 6y ago

Aw buddy. You couldn't spare putting $100 in the Ethereum pre-sale? Anyway I'm not talking about direct competition, I'm talking about parasitism.

atweiden 6y ago
> I'm talking about parasitism. Much if not all of the anti–Proof-of-Work narrative and the debunking thereof can be characterized by Brandolini’s law [1]. ITT “Sure, the overwhelming majority of `$COIN` was premined by insiders or sold to prestigious investors for pennies in exclusive pre-ICOs, but look over there — Bitcoin mining is oh-so-unfair. Disclosure statement? What’s that?” All the financially-motivated disbursal of misinformation takes a considerable amount of time to debunk, hence the parasitism component. [1]: https://en.wikipedia.org/wiki/Brandolini%27s_law https://en.wikipedia.org/wiki/Brandolini%27s_law
- pazimzadeh 6y ago
  10% is not a majority. I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.
  - atweiden 6y ago
    > I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one. “On day one” it was possible to CPU mine Bitcoin on any ordinary Windows PC using a freely available open source GUI application.
    - pazimzadeh 6y ago
      To this day the UI for just sending transactions is pretty bad, so I can't imagine how bad it was on day one. I am interested to see a screenshot, if you could share.