Coinbase from YC to DPO

Post by New_California » Wed, Apr 14, 2021, 7:43 PM UTC

CuriousCosmic wrote: post #238

New_California wrote: post #132

Earlier quoted context omitted.

No, Cardano is still centrally coordinated, with an intention to go actual PoS some day.

I'd be curious what you mean by centrally coordinated and not PoS? There are certain ways that Cardano is not yet fully decentralised to be sure but the network is operating as a proper decentralised PoS network. The network has been transitioning from Federated nodes to Decentralised nodes (transferring by about 2% every 5 to 10 days) for the past few months. The d parameter (marking the transfer from 100% federated…

Post by thesausageking » Wed, Apr 14, 2021, 7:45 PM UTC

Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

Post by ardme » Wed, Apr 14, 2021, 7:45 PM UTC

colinmhayes wrote: post #151

hundreddaysoff wrote: post #125

Earlier quoted context omitted.

Naive related question from a crypto n00b that a lazygoogle failed to answer: I just plotted some Chia. I left my laptop open to do this. Usually I would just put the laptop in power save mode all night. My understanding is that to actually make any Chia, I would need to wait ~1 year with my one 100GB plot with full-power mode enabled. Vs mostly with the case closed, as it is now, while I do other things. And this do…

Proof of stake has no mining, no datacenters. If proof of stake ends up working it would probably be almost as effective as Visa currently is. Visa is always going to be more efficient due to it's centralized nature. Currently one bitcoin transaction uses the same amount of energy as driving a tesla 2000 miles, so POS is quite an improvement.

Post by abalone » Wed, Apr 14, 2021, 7:46 PM UTC

reidjs wrote: post #329

onlyrealcuzzo wrote: post #130

Earlier quoted context omitted.

Global wealth is $400T. All crypto currency combined is worth about ~$2T at this point. So to store 0.5% of the world's wealth, we are using 0.6% of the world's energy. Banks obviously don't use anywhere near this much energy. Bitcoin is estimated to use more energy than all other server farms put together. So we are using 0.6% of the world's energy to store 0.5% of the world's wealth. And Doesn't seem like the ideal…

This implies that the energy required to store wealth in centralized databases is easily calculable. It also implies that the goal of storing wealth is optimizing for low energy usage, which seems less important than security/safety, ease of transfer, taxation, automation, and other factors. I’m not making an argument for or against PoW. Just want to point out it’s possible >.6% of humans energy output may in fact go…

Post by koonsolo » Wed, Apr 14, 2021, 7:47 PM UTC

dnr wrote: post #363

janandonly wrote: post #335

Earlier quoted context omitted.

And in Brian had simply bought bitcoins with his $10.000 in 2012, when the price was $4-$12 per piece? He could have bought 833-2500 bitcoins, with a current value of $5.2500.000 - $157.500.000. He choose to do more than "HODL" and go through the hard work of building a product and a company, which in my book, makes him a true hero. Even though he went the casino/shitcoin rout later...

Would bitcoin be worth nearly as much as it now if Coinbase didn't exist?