0wing

10 ms·

61.
by 0wing 9y ago
1. The Bitcoin algorithm gave early Bitcoin miners much more of the supply for measurably less work/capital costs. Satoshi designed the supply to go almost entirely to early adopters. Just as easy the algorithm could have been designed
62.
by 0wing 9y ago
Right... except the internet is not a physical space so tell me how do you measure distance between nodes? Latency? Let's look at the Lightening network white paper: 8.4 Payment Routing It is theoretically possible to build a ro
63.
by 0wing 9y ago
I cited BGP. You've provided no technical details, only an ad hominem fallacy. Feel free to explain actual technical details of how LN does anything interesting, other than further centralize Bitcoin into centralized payment processor
64.
by 0wing 9y ago
This is why there's thousands of new crypto-currency designs improving on the flaws of Satoshi's implementation. Not only is it easy to start fresh, but it's measurably more fair for new users to avoid BTC/ETH and other
65.
by 0wing 9y ago
There's no reason for new users to become bag holders. Sellers and "HODLers" rely on psychological manipulation and ignorance of new users to sell bitcoins produced by the software for low effort.
66.
by 0wing 9y ago
Either the Lightning Network has found a solution to the routing problem which the entire internet has relied upon since 1989 [1], or the LN marketing is disingenuous and the actual implementation will be nothing more than an excuse to extr
67.
by 0wing 9y ago
Please explain how the Lightning Network developers solve an unsolved NP-Hard problem in computer science regarding routing? [1] The Lightning Network design is exactly what the first sentence of Satoshi's Bitcoin whitepaper seeks to a
68.
by 0wing 9y ago
Correct, it's actually measurably worse. As time passes, Bitcoin becomes more exploitative to new users. [1] Not to mention, the bandwidth is severely crippled and the network is basically unusable for normal transacting. Take the case
69.
by 0wing 9y ago
Bitcoin and blockchain systems are nearly all designed to exploit new users and extract capital from greater fools who are too late to the game and didn't read or understand the rules and fine print. Satoshi's Bitcoin and many of
70.
by 0wing 9y ago
Every system deserves critique and improvements. Mining and staking algorithms have so far been measurably distributed disproportionately to a tiny minority of users. PoS is ironically manipulative in its own way, where an exchange or early
71.
by 0wing 9y ago
Blockchain does nothing to solve a malicious publisher submitting incorrect data. In this case, someone could be druged against their will and coerced into installing this app. In the case of other similar supply chain verification blockcha
72.
by 0wing 9y ago
Distributed how? Produced how? by work? Bitcoin distributed the vast majority of its wealth to aprox less than ~1000 individuals. Best estimates are that there are about one million holders of Bitcoin; 47 individuals hold about 30 p
73.
by 0wing 9y ago
Proof of Work is better described as Proof of (resource) Waste (for late adopters). The only thing PoW attempts to do is increase the amount of capital wasted via wasting electricity and computational cycles as time progresses. Ironically i
74.
by 0wing 9y ago
The algorithm BTC uses has been depreciated in favor of ASIC resistant mining protocols which prevent what we see with Bitmain and allow normal users to access mining rewards. BTC ASICs are a case of failure to prevent centralization. Nearl
75.
by 0wing 9y ago
BTC PoW hashing power is supplied by ASICs so it's impossible for BTC miners to do anything with their hardware other than mine BTC/BCash. PoS mining is just rewarding the rich simply for being rich. What could be wrong with that?
76.
by 0wing 9y ago
Building additional units (supply) in SF isn't being limited by the renters, it's zoning laws, prop 13, and NIMBYs.
77.
Japanese zoning laws(urbankchoze.blogspot.com)
1 points by 0wing 9y ago|0 comments
78.
by 0wing 9y ago
Actually the opposite, by taxing land in high demand urban cores it would incentivize more efficient use of the land - i.e. building up to support more occupants or higher value economic activity. [1] Deregulating the zoning restrictions wo
79.
by 0wing 9y ago
Apple doesn't generate more shares every 10 minutes. Apple and stocks also generate value, whereas Bitcoin and PoW software burns electricity/value.
80.
by 0wing 9y ago
It's also simply how the supply is produced. Satoshi made a machine that prints money if you do work. He made it so it only required a small amount of work to begin with and as time goes on, someone else with the same machine and the s
81.
by 0wing 9y ago
What you should know about Cryptocurrency advocates is they're likely trying to SELL you on the need to buy into their scheme because they want to pass off their cyberbeaniebaby for more than it cost to produce it. Most of the cryptocu
82.
by 0wing 9y ago
This author is either lying or has no idea how blockchains work. See: https://hackernoon.com/ten-years-in-nobody-has-come-up-with-... Blockchain will administer similar shocks to insurance, healthcare and all mass pa
83.
by 0wing 9y ago
As can Litecoin, Ethereum, Monero, and so on: https://coinmarketcap.com/ BTC and Bcash are subject to ASIC centralization. Litecoin and other scrypt based algos have had ASIC hardware attacks developed recently as well.
84.
by 0wing 9y ago
No, Bitcoin is a parallel to distributed computing and databases. PoW blockchains like Bitcoin only work by attempting to increase the capital cost of write access to the database. PoW blockchains purposefully waste as much computing power
85.
by 0wing 9y ago
1. If LN works to scale, it should be deployed. It's not, and has not for years. 2. You have absolutely no way to accurately verify or anticipate that claim. Feel free to provide a retort to my claim that Bitcoin is flawed from Satoshi
86.
by 0wing 9y ago
Re: [PATCH] increase block size limit Satoshi October 04, 2010, 07:48:40 PM It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit It can start being in versions way ahead, so by the time
87.
by 0wing 9y ago
Bitcoin is an early stage technology that still hasn't solved its scaling problem. It's almost 10 years old, and they knew about blocksize bandwidth limitations early on. Bitcoin used to have a variable blocksize that w
88.
by 0wing 9y ago
No. This is specific to crypto currency supply production algorithms. Coin supplies are created by running the software. Bitcoin and many other cryptocoins use a rule that lets the first users take control of the supply very easily by gener
89.
by 0wing 9y ago
Numerous cases of backdoored wallets, or poorly implemented weak private keys generated from javascript, or straight up theft from deposits. While a tiny aspect of dealing with Bitcoin is secure (key pairs) [1], actually using Bitcoin has p
90.
by 0wing 9y ago
Satoshi style PoW algorithms are intended to waste as much energy as possible. PoW mining just raises the capital cost to control the network without ever improving the speed or functionality. It's a system that increases the waste as

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