Paid in Full: an internet where every interaction is a financial transaction • Hacker News Board

Re: Paid in Full: an internet where every interaction is a financial transaction

#181

Post by potiuper » Wed, Apr 28, 2021, 8:24 AM UTC

potiuper wrote: post #180

exdsq wrote: post #73

Earlier quoted context omitted.

GP is wrong about the security of PoS. It is slightly less secure in favour of being more energy efficient, however it’s not that much more insecure.

https://etherscan.io/address/0x00000000219ab540356cbb839cbe0... shows the current total value staked for ETH2 at about $10B USD (4M ETH); 51% is $5.1B USD (2M ETH) with around 115M ETH in existence. Aave has about 0.6M ETH available to loan out at 0.76% APR ( https://app.aave.com/reserve-overview/ETH-0xc02aaa39b223fe8d... ) This is about a 0.01% interest rate per hr (8760 compound periods per yr) https://www.calculat…

Another case considering the requirement that the existing 51% could not be loaned would require just over doubling the outstanding staked assets, which is more than Aave's current $7.5B available to loan, to a total staked ETH2 of $20B USD again assuming no previously controlled stake. But, assuming the same the interest rate, the fee for a 1 hr 4M ETH loan is: $10B USD * 0.0001 = $1M USD. Still, half the amount compared to the PoW.

Re: Paid in Full: an internet where every interaction is a financial transaction

#182

Post by conception » Thu, Apr 29, 2021, 5:31 PM UTC

mjcohen wrote: post #166

conception wrote: post #38

Earlier quoted context omitted.

This is partially true... for income taxes. A large number of people do not pay income tax, and this includes retirees, the disabled, students, the very wealthy, etc etc. There are many types of taxes. And just about everyone pays taxes of some sort.

I am a retiree and I very definitely pay income tax.

I definitely wasn’t being clear there. I meant those 30% or so of retirees that depend entirely on social security.

Re: Paid in Full: an internet where every interaction is a financial transaction

#183

Post by ralusek » Fri, Apr 30, 2021, 1:58 AM UTC

Natfan wrote: post #102

ralusek wrote: post #47

Earlier quoted context omitted.

Would you look at that, you really do say "ye gods" a lot.

Looks like they have a keyboard shortcut for it.[0] Which is fine. I think you're getting downvoted because you made their turn of phrase seem like a bad thing. [0]: https://news.ycombinator.com/item?id=26938769

I was specifically responding to them because of the comment you linked here.