Earlier quoted context omitted.
Is there a peer to peer way to stop nuclear proliferation?
Be nice to people and don't drop so many bombs on their country they'll live in poverty for decades?
How can I personally do that second part?
Ethereum Proof-of-Stake
301–310 of 338 posts
Re: Ethereum Proof-of-Stake
#302Earlier quoted context omitted.
Forking it is the real threat. If some entity does end up controlling 67% or doing something the community does not agree with, people will just stop using the chain. This already happened once with Ethereum.
Yes, but etherium forked in favor of the stakeholders.
Depends on who you ask, and what fork they would rather be.
Those that decide against the fork stayed on what became "classic".
Re: Ethereum Proof-of-Stake
#303Earlier quoted context omitted.
Once you understand that your regime *is* the oppressive regime, you'd understand why this is necessary.
Hi, I am Russian. To really help ordinary people in oppressed countries, the first step is to implement policies such that they only affect those who should be affected. If you do that, cryptocurrency benefits become moot: a Russian freelancer working overseas can legally TransferWise money to help her mom, but a Putin-connected oligarch can't wire money to help the regime. For many reasons, it's difficult: e.g., how…
>>If you do that, cryptocurrency benefits become moot: a Russian freelancer working overseas can legally TransferWise money to help her mom, but a Putin-connected oligarch can't wire money to help the regime
There are plenty of nationalities which are banned from TransferWise:
https://wise.com/help/articles/2813542/why-cant-i-open-a-wis...
Russians may one day join that list.
Re: Ethereum Proof-of-Stake
#304Earlier quoted context omitted.
You should understand that this is a very USA centred opinion. There’s a whole big world of different cultures and politics, and it is possible to believe there are other approaches where we reject violence and authority. It’s the usual “you’re helping drug dealers/terrorists/North Korea, but what about the children?!” state simping that ignores the violence of the existing systems, and ignores the billions of people…
Amusingly all the crypto tech bros are living in free liberal societies in the West.
So are all the people calling for peer-to-peer electronic cash to be banned and the status quo, of a centralized global financial system which cuts off entire countries, to remain in place:
https://www.coindesk.com/policy/2020/10/23/money-reimagined-...
Re: Ethereum Proof-of-Stake
#305Earlier quoted context omitted.
That's not what happened. Bitcoiners defended decentralization over throughput. The argument back then was that we should first experiment with scaling with other solutions and try to innovate as far as possible, and after that see how much actual L1 block space is needed. Now we are starting to see that it was the right choice.
How is LN the right choice for decentralization? you need central relay nodes with a ton of liquidity. Besides there is nothing stopping you from setting up LN over a L1 that isn't cramped, you have a limited throughput of settlement transactions. Satoshi himself even suggested a blocksize increase. It is really a no-brainier when the cost of storage and bandwidth will continue to decrease over time, especially in a…
Well, the idea is that most people should be able to run a full node. Even now, you need a quite large SSD to sync and store the blockchain. Ideally, you'd want to run full node on a mobile device. Block size can be increased in the future when it's reasonable to do so.
Even with larger blocks, there's still the issue of latency and throughput. LN offers trustless instant settlement with very high throughput. Everyone is able to run their own node and open channels, so it doesn't really depend on any central third parties, even if there's some degree of concentration of liquidity. There should always be multiple routes and it should be possible to circumvent any bad actors. And obviously, L1 is still available for everyone.
In addition, there are other L2 solutions such as fedimints and statechains. The beauty of layered architecture is that there can be multiple competing solutions on L2, and L1 can be kept simple, secure and decentralized.
Here's a good article on the problems of scaling with big blocks + SPV: https://www.coindesk.com/markets/2017/07/30/could-spv-suppor...
Re: Ethereum Proof-of-Stake
#306Earlier quoted context omitted.
Because social consensus can be achieved on which Ethereum fork to use but not on every transaction that fork processes.
Solving that doesn’t sound nearly as difficult as a full PoS (or proof of anything) scheme.
What would be an easy way to solve that?
Re: Ethereum Proof-of-Stake
#307Earlier quoted context omitted.
In Eth2 PoS the validator has two keys: signing key, and withdrawal key. They are derived from the same mnemonic seed phrase that can be kept in cold storage. The signing key must be stored on the device doing the staking, but the withdrawal key does not need to be, it is only secured by cold storage.
Right, but OP is not talking about theft, OP is talking about someone (with possible short interest) creating havoc by causing people's staking nodes to behave in a bad way caused them to be slashed. You can't get the money they lost (it's gone for good), but you might be able to profit of a short position, or with a more sophisticated scheme, a resulting fork.
I see - I am sure those sort of attacks will happen. If you secure thousands of ETH in a single validator and are tied with something that could be shorted - such as a company and its stock or token - then your situation is just as vulnerable to attack as keeping your cold wallet in your home's safe. Somebody could break into your house and either coerce you to provide the staking keys, or crack the device, or find another vulnerability if your opsec is not effective enough. If you're staking in the cloud with Amazon you are probabbly even more vulnerable.
But isn't this the whole idea? By staking, you are placing your capital at risk in order to help secure the network. This is how staking is often described by Ethereum developers.
> or with a more sophisticated scheme, a resulting fork
I'm not following this.
Re: Ethereum Proof-of-Stake
#308Earlier quoted context omitted.
Be nice to people and don't drop so many bombs on their country they'll live in poverty for decades?
How can I personally do that second part?
Tricky one, voting, and encouraging the view that everyone is a human and some sets of people aren't "evil", even if their leaders are bad
Re: Ethereum Proof-of-Stake
#309Earlier quoted context omitted.
https://en.wikipedia.org/wiki/Bombing_of_North_Korea "During the campaign, conventional weapons such as explosives, incendiary bombs, and napalm destroyed nearly all of the country's cities and towns, including an estimated 85 percent of its buildings" No idea why they have bad infrastructure and hate the west
They rebuilt a lot of that in the decade after the war with extensive aid from Russia and China. Their economy was actually doing better than South Korea's up until maybe the '70s or even '80s (it depends on what metrics you are looking at). Where it started going seriously off the rails was in the '80s when they adopted a policy of radical self-sufficiency. Unfortunately they can't really be self-sufficient, at leas…
But that still makes them 20 years behind the times. And then:
"Russian accusations of indiscriminate attacks on civilian targets did not register with the Americans at all. But for the North Koreans, living in fear of B-29 attacks for nearly three years, including the possibility of atomic bombs, the American air war left a deep and lasting impression. The DPRK government never forgot the lesson of North Korea's vulnerability to American air attack, and for half a century after the Armistice continued to strengthen anti-aircraft defenses, build underground installations, and eventually develop nuclear weapons to ensure that North Korea would not find itself in such a position again. ... The war against the United States, more than any other single factor, gave North Koreans a collective sense of anxiety and fear of outside threats that would continue long after the war's end"
Re: Ethereum Proof-of-Stake
#310Earlier quoted context omitted.
Hi, I am Russian. To really help ordinary people in oppressed countries, the first step is to implement policies such that they only affect those who should be affected. If you do that, cryptocurrency benefits become moot: a Russian freelancer working overseas can legally TransferWise money to help her mom, but a Putin-connected oligarch can't wire money to help the regime. For many reasons, it's difficult: e.g., how…
>>If you do that, cryptocurrency benefits become moot: a Russian freelancer working overseas can legally TransferWise money to help her mom, but a Putin-connected oligarch can't wire money to help the regime There are plenty of nationalities which are banned from TransferWise: https://wise.com/help/articles/2813542/why-cant-i-open-a-wis... Russians may one day join that list.
Maybe you misunderstood me. This year Russians got de facto banned from many services, cannot use paid features of Github (Copilot or sponsoring projects), are blocked by freelancer marketplaces, etc. I am not risking using TransferWise to transfer money home (to a non-sanctioned individual's account in a non-sanctioned bank) out of fear of losing my account forever. This is because Western companies interpret sanctions wider than strictly required to err on the side of caution due to the aforementioned reasons.