homakov

19 ms·

181.
by homakov 9y ago
> There have been successful tests of blocksizes of up to 1 GB or 1000x the current size no need to be genius to just increase blocksize 1000x and "assume" gigabit connection which no one has. Lightning network is a great idea,
182.
How Ethereum Occasionally Backdoored the Official Wallet(medium.com)
4 points by homakov 9y ago|0 comments
183.
by homakov 9y ago
It's impossible to steal money from other wallets. Miners can only reverse history and double spend, which is anyway deadly enough.
184.
by homakov 9y ago
Who decides it and when? Why new PoW is supposed to be "better"? Whenever you need to change consensus which wasn't expected by consensus itself (self amendability) you're in stale mate situation and NO ONE can predict h
185.
by homakov 9y ago
Actually both cases are deadly. I don't think that miner take over is reversible if done right. I haven't seen a single step by step article explaining the actions in case of large double spends. Do we get air drop from some twitt
186.
by homakov 9y ago
Point me there, I will research them. How do they solve energy distribution? It's not that china has the asics - it's that they have the electricity which dominates any PoW by design. So it's unfair for any PoW change even if
187.
by homakov 9y ago
That's drastically more expensive than hijacking 3 miners in 1 country. But doable, right now by state power like US. But still better than pow.
188.
by homakov 9y ago
Yes. same plot as https://medium.com/@homakov/how-to-destroy-bitcoin-with-51-p...
189.
by homakov 9y ago
The number of entities is much higher. It's not like 15/15/15% stakes and 3 entities. It's hundred.
190.
by homakov 9y ago
There are more than 1 variable in the outcome. And from what I see it is very existential. Just not used yet.
191.
by homakov 9y ago
Hashrate is more important than anything else. They can mine empty blocks forever. Or be made to do it by China to protect yuan. I'm 100% sure it will happen if they see it as a threat.
192.
by homakov 9y ago
Just think ahead and you'll see there's no actual _plan_. Just ideas floating around. New PoW means weak and easily hijackable consensus, which means no trust from public. So this _is_ the problem that has no solution as far as we
193.
by homakov 9y ago
Next question: what exactly algo? What hashrate will be? It will be 2009 back, with weak chain = basically without any security from double spends.
194.
by homakov 9y ago
Nodes are ephemeral and sybil attackable. Mining block is in fact consensus. If miners empty block forever whats next?
195.
by homakov 9y ago
That does not matter if there will be a reason. Is there a reason for paypal to ban your account today? Most likely no. But it can. And maybe will. Maybe not. Decentralization prevents that even if they wanted to.
196.
by homakov 9y ago
Thisisfine.jpg is usual in Bitcoin problems p2p cash! => ok, store of value decentralized => ok, let's just hope China will be good to us I hold quite a few BTC, but I prefer to remain realist.
197.
by homakov 9y ago
>If they wanted to disrupt the network they have had plenty of chances to. "If paypal wanted to ban my account they would do it already. Must be secure to store all my money there then". >If you break down the pie chart into
198.
Bitcoin isn't decentralized(medium.com)
59 points by homakov 9y ago|95 comments
199.
by homakov 9y ago
Please elaborate, what cardano does differently?
200.
by homakov 9y ago
Great idea
201.
by homakov 9y ago
Certificate validation don't involve UX friction. I need this friction to be justified, and it the sync is very slow new comers will never bother to be a full node. Give people instant sync, and they won't consider light wallets a
202.
by homakov 9y ago
It would be perfect to make a snapshot whenever a blockchain to last state is taking over 20% of state size. I.e. with 10 GB state do it every 2Gb (monthly). And IMO it's safe to discard any chain older than 3-6 months because only peo
203.
by homakov 9y ago
78MB per week recently? What's the math? Isn't sharding major compromise on security? I thought snapshots mean you just download the exact state at block X and never bother about tx older than X. And you do that not because of tim
204.
by homakov 9y ago
You seem to be right! That doesn't dramatically change the problem, but with avg blocksize 13Kb https://etherscan.io/chart/blocksize multiply 6000 blocks per day the data to download per week is just 700Mb, am I r
205.
by homakov 9y ago
I said specifically as a resistant blockchain, and gave a clear metric why. And not vs Bitcoin, which also isn't in great shape.
206.
by homakov 9y ago
As a blockchain. As a Ponzi scheme (and platform to run them) it's wildly successful.
207.
by homakov 9y ago
Sorry, I got very annoyed hearing price arguments. We need to stop caring about price and see what's underneath.
208.
by homakov 9y ago
That's like counting a mentions in Google Trends. Number of non-mining nodes is quite irrelevant to security or usability of the network. People install it to play around somewhere in the cloud.
209.
by homakov 9y ago
> A week has 168 hours, which means you'll spend a minute per hour syncing on average. Assuming, the user wants to have a daemon running full time. They just downloaded your thing and you're imposing your rules? Deleted. > A
210.
by homakov 9y ago
You need to be _able_ to become one easily and quickly. That's called censorship resistance.

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