nnnnn11111

4 ms·

1. 1.▲
   by nnnnn11111 7y ago

   Modern asic farms require a lot of up-front investment in developing hardware. All it takes is for one person to think he can hurdle the cliff and he can raise a lot of money to do it if the reward is there, not unlike the first group of pe
2. 2.▲
   by nnnnn11111 7y ago

   To me this is like arguing that something like high frequency trading is ok because it doesn’t generate c02. The reality is that hundreds of millions in wasted human capital, particularly the best mathematical minds on the planet, is extrem
3. 3.▲
   by nnnnn11111 7y ago

   From what you’re saying it seems like an “incentive cliff” at 100x the power of whatever the competition produces is being relied upon for the security of the currency, meaning there exists a strong incentive for someone to waste human capi
4. 4.▲
   by nnnnn11111 7y ago

   But it’s several million just to get it started. If the reward for pulling off an attack is the same as in proof of work systems, why wouldn’t the waste wind up equaling the reward (ie hundreds of millions in waste if it’s used to secure so
5. 5.▲
   by nnnnn11111 7y ago

   If there’s a reward for computing a VDF faster than everyone else, why won’t the amount of wasted resources, in the the form of e.g. human capital dedicated to computing faster VDFs, not be equivalent to the economic waste if the verificati