exo762

16 ms·

151.
by exo762 5y ago
Re: valuation. The biggest contributing factor is speculation. I think it dwarfs every other possible factor. The second biggest one - fees are paid in ETH, and fees will continue to be paid in ETH. More, EIP-1559 will actively decrease amo
152.
by exo762 5y ago
There is nothing simple about hash functions :-) They rely on unproven mathematical conjecture that one-way functions exist. Their existence would imply that P!=NP :-) Re: shell game. Are you implying that fraud or misdirection is involved?
153.
by exo762 5y ago
I agree. Ropsten is the proof. Still, I'm fine with Ethereum moving fast and breaking things.
154.
by exo762 5y ago
> Who will slash the slashers?? Anyone who can produce a block with the proof inside. Attack you are describing depends on attackers having not 51% of the stake, but 100% of the stake. > while not eliminating it either. You would have
155.
by exo762 5y ago
> smaller operations and hobbyists will rush in to fill it. Hash rate gradually climbs back up and instead you have 10x the energy usage because you can no longer run the PoW in a scalable way. This is false. Miners will spend about the
156.
by exo762 5y ago
Whole chain is changing the rules. For block N-1 and earlier blocks - fork choice rule inspects amount of work. For block N and later, fork choice rule is one of https://beaconcha.in/
157.
by exo762 5y ago
> Even stakers can expend more money for a better chance at receiving the eth2 staking rewards. This will result in just as much energy use for a given reward value as Bitcoin. I think you are wrong. Staker pays in "time-cost of mon
158.
by exo762 5y ago
> The stakers (and their adjoints) can collude and decide to reorg the chain for a different outcome. This can be done indefinitely at no additional cost. No, they can't. As a part of the attack they will have to produce a two diffe
159.
by exo762 5y ago
No, it wont. Look for L2 solutions.
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by exo762 5y ago
> Ethereum will remain multiple orders of magnitude less efficient than traditional banks. As a payment network? Layer 2 solutions will be in production by the end of this summer which will enable payments that costs 3 cents, regardless
161.
by exo762 5y ago
> Fundamentally, the proof of work system locks in longer chains because of all the work that was done historically. VDFs used in Ethereum's hybrid PoS replicate this property to large-enough extent. In case of PoW the resource you
162.
by exo762 5y ago
> The ethereum Miners will rebel I don't think miners can do anything about this. In the worst case, they coordinate to stop mining on N-1 block. But this requires an amazing level of coordination, plus network can directly bribe&#x
163.
by exo762 5y ago
You are on point. The solution is (and people do it today) don't run backup nodes, or you will risk getting slashed. Your penalty for missing your vote is very mild - basically not earning the reward for the round.
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by exo762 5y ago
PoW also implies large inflation, which pays for the security of the network. With PoS you can reduce issuance greatly, while staying safe.
165.
by exo762 5y ago
> enough folks will ignore this and keep mining Irrelevant. Well designed networks are pretty much isolated from whims of miners. Ethereum is one of them, Bitcoin is not. I'm speaking about 2 weeks difficulty re-targeting window vs
166.
by exo762 5y ago
This is false. At least false for Ethereum's hybrid PoS. It uses Verifiable Delay Function as an element of random number generation process. One can look into number of rounds of VDF and treat them just the way they treat proof of wor
167.
by exo762 5y ago
> This is a fundamentally undemocratic system. All modern democracies are representative. People themselves don't decide about things, their representatives do. This is the price we are willing to pay to get effective governance.
168.
by exo762 6y ago
Solution is different. Decriminalize software errors exploitation / hacking. Reliance on justice system is a fools' errand in a global economy anyway. There are two tiers of software operations. Global (FAANG etc) and local. First
169.
by exo762 6y ago
> Power usage is proportional to Bitcoin value Not precise enough. Power usage is proportional to block reward USD value, which is proportional to BTC value. But once in 4 years number of BTC awarded for mining a block is halved.
170.
by exo762 6y ago
This illustrates the need Handshake project. They created an alternative root for DNS - basically a fully distributed ICANN replacement.
171.
by exo762 6y ago
Immortality (in minds of pissed off relatives), here I come!
172.
by exo762 6y ago
> The latter seems to offer very low tx fees and much higher tx rates, is it a matter of smart contract code etc? Chains are of two types. Cheap and unused is one, expensive and used is the other. For Ethereum current limits on the size
173.
by exo762 6y ago
There is also an issue of complexity hiding the risk. I'm not convinced that DiFi solves this problem.
174.
by exo762 6y ago
Recently miners started exploiting this possibility for profit. This is a problem in many ways, and this problem is hard to solve. Possible solution involves splitting miner role into two - one group will do sequencing (without knowing much
175.
by exo762 6y ago
More than that. You can actually simulate your execution locally. So you should know if there is a possibility of making a profit even before you send the tx.
176.
by exo762 6y ago
> While I'm not a fan of how the Ethereum project and ETH token is managed There is a real possibility of BTC finding home on Ethereum network in future. Recent advancements in cryptography make building of fully trust-less bridge b
177.
by exo762 6y ago
Segregation is what you get when you permanently remove people from platforms. Sounds almost like a truism.
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by exo762 6y ago
> Destruction of property is an inconvenience. You never have been poor, have you?
179.
by exo762 6y ago
Imagine road rage situation. You press the button, mini-atlas hops out of the trunk of your Hyundai car and delivers justice. /s
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by exo762 6y ago
They could have gone with Althea design and have both freeloader and sustainability problem solved. Instead they did this...

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