cryptobeanbaby

6 ms·

1.
by cryptobeanbaby 8y ago
You realize Bitcoin/Ethereum are simply computer software right? And you missed the essential caveat; aprox 4.11% of Bitcoin addresses control 96.53% of all BTC in circulation. This is a conservative estimate, as anyone familiar with h
2.
by cryptobeanbaby 8y ago
Mining pools form due to the transaction costs of decentralization. Better explained as a result of the mining protocol being winner takes all, and is granted write access authority (for guessing a increasingly larger random number)
3.
by cryptobeanbaby 8y ago
Technically the Ethereum network is majority owned by Vitalik Buterin and the folks who payed 0.50 USD (likely much less, if paid in BTC mined earlier). 72,009,99 of the 101,684,297 Ether means the Ethereum network has a worse Gini coeffici
4.
by cryptobeanbaby 8y ago
To quote a prior Senate Minority Leader Tom Daschle on the floor of the Senate: "How long would it be before you saw traders investing in a way that would bring about the desired result?" As in, if one found a way to bet against y
5.
by cryptobeanbaby 8y ago
It looks like Augur has no way to validate the "REP holders" though? This means a sybil attack can be launched by anyone behind the Augur project (assuming they set aside large reserves of REP for themselves, how would anyone know
6.
by cryptobeanbaby 8y ago
Worth mentioning, Bitcoin and Satoshi style Proof-of-Work doesn't actually solve the Byzantine General's Problem, it merely creates a lottery system that allows anyone with a large amount of excess capital to take control of add
7.
by cryptobeanbaby 8y ago
There's no point in doing that, because if you can do that you can do $$ <--> $$
8.
by cryptobeanbaby 8y ago
https://www.stellar.org/blog/bitcoin-claim-lumens-2/ https://www.stellar.org/about/mandate/ Lumen Distribution >At the genesis of the Stellar Network, 100 billion lumens (XLM)
9.
by cryptobeanbaby 8y ago
XLM was "premined" (instantly generated for free) and distributed to the established "wealthy" userbase in an effort to get them to tell outsiders to buy in. It's like some evolution of Multi-Level-Marketing meets p
10.
by cryptobeanbaby 8y ago
what happens when one of these large mining operations in China/South pacific/etc target this network and begin accumulating all the handshake "coins". How would someone 3 years from now have access to generate coins&#x2
11.
by cryptobeanbaby 8y ago
Why is a Proof-of-Waste blockchain necessary for this? We already have https://www.eff.org/observatory , and anyone can run a DNS server for free.
12.
by cryptobeanbaby 8y ago
It looks like the dev team has already anticipated a SHA3 based ASIC design as a threat to monopolize control over the Handshake protocol. Guessing an insider on is hoping to exploit this for financial gain and control of this isolated DNS
13.
by cryptobeanbaby 8y ago
Ah yes, like how Coinbase told its investors that Bitcoin is great for money laundering and bypassing sanctions? Immune to country- specific sanctions (e.g. Russia-Visa) http://freebeacon.com/wp-content/uplo
14.
by cryptobeanbaby 8y ago
Why would anyone pay (..with software tokens) for your system when they can use the existing internet, Bittorrent, Freenet, TOR, and so on for free? If you want an example of an ancap society visit Somalia and read the book "The Jungle
15.
by cryptobeanbaby 8y ago
Thank you for replying dang. Transparency in moderation here at HN is immensely appreciated and respected.
16.
by cryptobeanbaby 8y ago
>It's unclear what amount of correlation - if any at all - exists between miner control.. Manipulation of arbitrage and suppression/prioritization of transactions. This was demonstrated in an attack on the Ethereum network by t
17.
by cryptobeanbaby 8y ago
Are you suggesting that manipulation is okay, if it has historically happened in a regulated market?
18.
by cryptobeanbaby 8y ago
>"For example, trading in bitcoin is electronic, which facilitates competition and price transparency." One of the main reasons this ETF was rejected is because many of the major exchanges like Bitfinex, BitMEX, Binance, and Kr
19.
by cryptobeanbaby 8y ago
If you're suggesting cryptocurrencies like Bitcoin or Ethereum would replace fiat, then I have a new cryptocurrency to sell you.
20.
Ask HN: Do HN Mods censor stories unfavorable to their “investments”?
4 points by cryptobeanbaby 8y ago|4 comments
21.
Futures Markets Applied to Prediction (FutureMAP)(en.wikipedia.org)
2 points by cryptobeanbaby 8y ago|0 comments
22.
by cryptobeanbaby 8y ago
I'll assume this is flagged because it's not favorable to broadcast this feature to the public, and "investors" aka HODLers here at Hackernews would want to hide this event.
23.
Augur protocol leads to Ethereum-based ‘assassination market’(bitnewsbot.com)
31 points by cryptobeanbaby 8y ago|16 comments
24.
by cryptobeanbaby 8y ago
> Ethereum is PROGRAMMABLE MONEY What if someone just programs more programmable money? Also why would anyone want to use a system where over 71% of all money is owned by a small group of anonymous oligarchs? Presale ICO / Prem
25.
by cryptobeanbaby 8y ago
> I’m surprised that any US exchange is allowed to list coins like Bitcoin Cash It's ironic you would single out Bitcoin Cash as an attempt by the software devs to defraud people. Take a look at how Ethereum, Bitcoin Core, or any o