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Dabs
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January 14, 2020, 01:37:40 PM
 #101

What did he miss? He just said he didn't miss anything, and articulated in a much better manner the situation than you did. His post history is also much better, to the point they're not going to be wasting any more time if you just continue trolling incoherently.

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January 14, 2020, 03:44:41 PM
Last edit: January 15, 2020, 01:18:50 AM by Khaos77
 #102

Bitcoin is still in beta, and still an experiment that could fail. None actually knows which design-decision is right.

Over 10 years of beta code, pretty lame.
With that track record, LN will never be ready.

You can pretty well bet, the ones that China shuts down because the miners are causing grid problems will fail in the long run.
With PoS , there is no insane power drain, and China would have a hard time pinpointing an exact physical location if the staker wanted to hide from them.





What did he miss?

The Correct Answer.  Cheesy




FYI:
BSV went up over 88% in a single day, looks like the miners are starting their Halving Games.


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January 15, 2020, 05:47:12 AM
 #103

Bitcoin is still in beta, and still an experiment that could fail. None actually knows which design-decision is right.

Over 10 years of beta code, pretty lame.
With that track record, LN will never be ready.

You can pretty well bet, the ones that China shuts down because the miners are causing grid problems will fail in the long run.


Because of the supply cap, I'm with the opinion that Bitcoin will stop being in beta only "once the fee market is supporting the hash market".

Quote

With PoS , there is no insane power drain, and China would have a hard time pinpointing an exact physical location if the staker wanted to hide from them.


POS has its problems too, it depends on trusted-third-party checkpoints.


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January 16, 2020, 12:59:48 AM
Last edit: January 16, 2020, 01:10:12 AM by Khaos77
 #104

POS has its problems too, it depends on trusted-third-party checkpoints.

No it does not.
ZEIT's proof of Stake design has not used a hard coded checkpoint in years.
It is only secured by the coins and longest chain for years now.

By the way, PoW or PoS can use checkpoints , it is not specific to either algorithm.
Bitcoin used checkpoints for their early years.

FYI:
Adding a hard coded checkpoint during major design changes is a smart thing to do.
Core devs were stupid not to add one for the segwit nonsense.

http://archive.is/dEZ35
Satoshi own words on Checkpoints
Quote
Added a simple security safeguard that locks-in the block chain up to this point.

The security safeguard makes it so even if someone does have more than 50% of the network’s CPU power, they can’t try to go back and redo the block chain before yesterday. (if you have this update)

I’ll probably put a checkpoint in each version from now on.
Once the software has settled what the widely accepted block chain is,
there’s no point in leaving open the unwanted non-zero possibility of revision months later
.


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January 16, 2020, 08:09:11 AM
 #105

POS has its problems too, it depends on trusted-third-party checkpoints.

No it does not.
ZEIT's proof of Stake design has not used a hard coded checkpoint in years.
It is only secured by the coins and longest chain for years now.


Then, what protects its blockchain from the vulnerability of long-range nothing-at-stake attacks? Attacks that cost nothing to produce millions and millions of blockchains controlled by an attacker?

You said miners can collude, risking the costs of Proof of Work, what stops collusion in Proof of Stake which costs nothing?

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