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Author Topic: Ethereum scammers trying to suppress BTC till they find someone to Dump Eth on  (Read 9257 times)
Mr.grin
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May 26, 2016, 01:43:16 PM
 #161

I guess eth is not a scam, it's been there all the time and it is very baiik coins for trading. well, but ETH will never replace bitcoin as the best coin
There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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r0ach (OP)
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May 26, 2016, 01:59:16 PM
 #162

PoS offers the same security as PoW

WRONG:

Why proof of stake has no value:

Since Satoshi did not solve the Byzantine generals problem, this means confirmations are completely arbitrary.  So why are two confirmations more useful in Bitcoin (PoW) than one?  Because it's an open entropy system where over a period of time, it's either unlikely or statistically impossible for someone to maintain a monopoly on block validation when there is no upper limit to confirmations.

Recursive systems like proof of stake tend to permanently monopolize block validation by design, with no real fault or state recovery to fix it once it goes off the rails.  The act of introducing interest compounds this problem even more.  This makes a proof of stake confirmation essentially worthless due to being a bounded entropy system.

On top of being worthless, proof of stake is also a permissioned ledger.  The purpose of mining in Bitcoin is to create a permanent decentralized exchange peg, which thus results in a permissionless system.

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korila
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May 26, 2016, 02:17:10 PM
 #163

PoS offers the same security as PoW

WRONG:

Why proof of stake has no value:

Since Satoshi did not solve the Byzantine generals problem, this means confirmations are completely arbitrary.  So why are two confirmations more useful in Bitcoin (PoW) than one?  Because it's an open entropy system where over a period of time, it's either unlikely or statistically impossible for someone to maintain a monopoly on block validation when there is no upper limit to confirmations.

Recursive systems like proof of stake tend to permanently monopolize block validation by design, with no real fault or state recovery to fix it once it goes off the rails.  The act of introducing interest compounds this problem even more.  This makes a proof of stake confirmation essentially worthless due to being a bounded entropy system.

On top of being worthless, proof of stake is also a permissioned ledger.  The purpose of mining in Bitcoin is to create a permanent decentralized exchange peg, which thus results in a permissionless system.

What about Delegation ??
Lisk is using it and seems promising
educate me r0ach
r0ach (OP)
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May 26, 2016, 03:39:41 PM
 #164

What about Delegation ??
Lisk is using it and seems promising
educate me r0ach

Lisk is a Bitshares 1.0 clone, which is a Rube Goldberg implementation of proof of stake.

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techgeek
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May 26, 2016, 05:28:49 PM
 #165

Last time I checked, there wasnt a hard code for this alt coin.

So one can only assume of its worth if its being - unlimited lol. I dont know about that, and that whole Dao system forces people to invest in their ETH to re-circle ETH value which absurd.

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