Taek

45 ms·

571.
by Taek 5y ago
This is also a Facebook problem. A responsible company would have disclosed a vulnerability instead of exploited it
572.
by Taek 5y ago
I do think the downvote button contributes considerably to shutting down things like pun threads and low effort comedic jabs. It's always sad to see someone who is making a good faith effort to have an interesting conversation get drow
573.
by Taek 5y ago
Curious if you have a list of topics that uniquely/surprisingly stand out as high or low quality
574.
by Taek 5y ago
I agree that we should try to implement global fines/taxes/fees/whatever on the externalities of society (be it electricity, manufacturing, dumping, litter, etc). I disagree that it would have a significant impact on PoW. PoW
575.
by Taek 5y ago
It's a well established result in PoW that a small constant improvement in efficiency (say, one mining farm is 5% more efficient than others) turns into an exponential advantage in hashrate over time if the profits are continually re-i
576.
by Taek 5y ago
In practice a PoS network tends to have a participation rate of between 10% and 30%, and the 2-3 largest exchanges collectively tend to own between 10% and 50% of the total supply. And then also in practice most of the staking is performed
577.
by Taek 5y ago
The exchanges have no reason not to support both sides of a fork, for example the BTC/BCH split. Then the owners of the tokens ultimately decide which one is more valuable by selling their tokens on the chain they don't prefer and
578.
by Taek 5y ago
There's a couple of misunderstandings here. Mining is expensive and low margin. Generally, the people who own the most Bitcoins are not the same as the people with the most mining rigs, the two parties tend to be completely divorced, a
579.
by Taek 5y ago
Of course, you need _some_ amount of transactions. But that could theoretically be 500 a year and still adding just as much value as bitcoin today, so long as the transactions were sufficiently significant.
580.
by Taek 5y ago
There's probably enough data out already on how long hard drives last while mining Chia to make a reasonable estimate. It kills hard drives fast enough that a large percentage of hard drives which were mining at genesis are now dead.
581.
by Taek 5y ago
This is a massive over-simplification of the problem. A strong proof of stake construction has to consider all forms of Sybil attacks, all forms of wealth concentration (a significant problem in most cryptocurrencies - the top 3 exchanges o
582.
by Taek 5y ago
Ethereum's original logic bomb was set to trigger in 2017. Then later it was updated to trigger in 2017. And then later it was updated to trigger in 2018, and then 2020, and currently I believe it's set to trigger in 2022. But the
583.
by Taek 5y ago
The people buying Bitcoin don't need to be aware that it costs 6 GW of power, any more than they need to be aware of the electricity costs associated with the manufacture of plastic, electronics, or other goods and services. If we as a
584.
by Taek 5y ago
> If a proof-of-work cryptocurrency holds its price, its energy usage can only go up. The cost of proof-of-work is paid by the network participants. When you transact on Bitcoin or Ethereum, you pay massive fees to proof of work miners t
585.
by Taek 5y ago
> We need to drum up interest for a solution. There is already massive interest in finding more efficient ways to solve the problem. It's a difficult problem to solve (as Elon Musk will likely learn in the coming year). The cost of
586.
by Taek 5y ago
Not all transactions are created equal. Some transactions are more valuable than others, and there is also value in just maintaining a steady state (holding wealth). Something that also seems to get lost in the mix frequently is the fact th
587.
by Taek 5y ago
Nah there are dozens of options where you could easily move 5 million a day. They are probably using bitcoin because it's easiest for the victim to pay in. I assume they would rotate it through zcash/monero before they spend it
588.
by Taek 5y ago
Yeah Zcash provides good privacy for the most part, as long as you use it correctly. Once you cash out, it's a typical money laundering problem. How do you get money into circulation without raising suspicions of where it came from? Pl
589.
by Taek 5y ago
The whole point of a trustless transaction is that you don't need to worry about who the counterparty is. You don't need the leverage to sue somebody because fraud is not possible. For digital transactions, the lack of trust can b
590.
by Taek 5y ago
Bitcoin's Proof of Work algorithm has linear scaling. Basically 100,000 nodes all trying to build consensus using Nakamoto PoW can do it in O(100,000) messages. The scaling factor on the number of miners is not what is a bottleneck her
591.
by Taek 5y ago
In some senses it's not a lot, in other senses it is a lot. Large systems (like the US banking system) only do a few intra-bank settlements per day, 100 tps is well beyond what you need for nation states to do business with eachother.
592.
by Taek 5y ago
A design technique called utreexo allows you to validate essentially every single transaction in the entire history in full parallelism. With an infinite number of cores, you could in theory validate the entire bitcoin blockchain in under a
593.
by Taek 5y ago
Why is there no innovation in healthcare? Because better technology won't get the entrepreneur a satisfying reward.
594.
by Taek 5y ago
Most coders I know have had occasional run ins with a rabbit hole where several days of their life got sucked into a single drawn out coding session with little breaks besides food, and had some of the most productive few days of their live
595.
by Taek 5y ago
By 2030 gasoline cars are going to be just as equipped to violate your privacy as electrical cars. Many of them already are.
596.
by Taek 5y ago
People aren't at fault here. These systems are deliberately designed to put the user in a compromised position. Designed by behavioral experts using techniques the business world has been building up for decades.
597.
by Taek 5y ago
Food. Mosquitoes need blood to reproduce (among other things) and there's a finite supply of that. This caps the population. A very rapid reproduction rate means that they can quickly go from any population size to the max capacity of
598.
by Taek 5y ago
The key thing here is that the operator/uploader is different from the app developer. As an app developer, you don't need to build or operate any backend at all, and you have no costs. Buying local storage and paying for an extern
599.
by Taek 5y ago
SkyTransfer has the benefit of being "infrastruture-less". Rather than needing someone (the developer or someone else) to run a server, it can sit on top of the same Skynet infrasturcture that runs everything else. SkyTransfer was
600.
by Taek 5y ago
If you've got a suggestion for an alternative way to build Skynet, I'm all ears.

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