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1. For scaling, the burden of proof lies on Lightning Network/ETH2/whatever they're calling them today to demonstrate that they can scale (how many years has it
by thematrixturtle 5y ago
1. For scaling, the burden of proof lies on Lightning Network/ETH2/whatever they're calling them today to demonstrate that they can scale (how many years has it been now?), and he demolishes two widely proposed alternatives to PoW, namely proof of storage and proof of stake.
2. This is a rant, not an error.
3. I'm not sure what you're arguing here? His argument is that in practice, a tiny cartel of mining pools exerts central control over most cryptos, meaning they're not really decentralized at all.
4. There are a) way, way, way more DeFi hacks and exploits than TradFi ones, and b) consumers don't get wiped out when a bank gets robbed or hacked.
5. Omission != error
6. Ad hominem.
- inter_netuser 5y ago1. burden is on those claiming expertise. 2. being luddite in 2022 is a grave error. 3. he's absolutely dead wrong. pools do not exercise central control which has been observed empirically numerous times. 4. Card industry alone loses $40B per year. That's just cards. Lending and wealth is a whole other universe. So make it roughly 1-2T per year, which is the entire crypto marketcap lost every year by tradfi, roughly 10x than DeFi. F. GG. 5. omission of the most key topic at hand, isn't a simple error, it's proof of ignorance. 6. ad hom, but by you. (since when is it an ad hom to call someone wealthy and successful to the point they are immune to vagaries of daily life in most locales on Earth? Amazing.)
- derac 5y agoCan I see some sources for (4) and your claim that his sources are biased?
- inter_netuser 5y ago
- timeon 5y agoIt seems that in the end the one spreading the 'FUD' is you.
- dmitriid 5y ago> being luddite in 2022 is a grave error. > ad hom, but by you. riiiight