Earlier quoted context omitted.
> Google Cloud, Azure, deploy a server yourself, etc. My point is that if AWS decides to follow Hetzner, the rest will too. If it was so easy to just deploy a server yourself, then more people would be doing that already. Right now, AWS is the lowest bar cause that's what half the people running this stuff know already [1]. > If your service is illegal PoS / staking is a grey zone right now... there is a lot of discu…
> PoS / staking is a grey zone right now... there is a lot of discussion over the legalities. There's really not.
Blockchains by number of nodes/validators
171–179 of 179 posts
Re: Blockchains by number of nodes/validators
#172Earlier quoted context omitted.
You’ve articulated why people call Bitcoin “digital gold”.
Totally. So what's the advantage of using crypto over a bar of gold then?
Crypto can be secured and transported much more cheaply and easily - as opposed to gold, where many people would rather own/trade a receipt for gold kept in a secured vault.
Re: Blockchains by number of nodes/validators
#173Earlier quoted context omitted.
Yes, it's pretty much only miners selling, but only a small fraction of them sell on exchanges as apparent from the low volumes. The original Cuckoo Cycle turned out to be rather ASIC friendly; the Cuckatoo variant even more so. But it's the Cuckaroo variants that saw the most changes to make them substantially more ASIC resistant.
Where else would they sell?
They don't. They have the funds for the electricity (which are rather modest compared to other coins) and just accumulate Grin...
Re: Blockchains by number of nodes/validators
#174Earlier quoted context omitted.
Where else would they sell?
They don't. They have the funds for the electricity (which are rather modest compared to other coins) and just accumulate Grin...
So then that explains the price being as low as it is... nobody is actually using it... just sitting on it in the hopes that it might go up some day. Sigh.
update: removed comment about ROI cause I didn't do the full maths.
Re: Blockchains by number of nodes/validators
#175Earlier quoted context omitted.
They don't. They have the funds for the electricity (which are rather modest compared to other coins) and just accumulate Grin...
So then that explains the price being as low as it is... nobody is actually using it... just sitting on it in the hopes that it might go up some day. Sigh. update: removed comment about ROI cause I didn't do the full maths.
> So then that explains the price being as low as it is... nobody is actually using it
That comment makes no sense, since most cryptocurrencies have no use except speculation. The price is low (well, no lower than Doge) because Grin deters speculation, and hence much fewer people are willing to speculate on it.
> ROI is 4300+ days
Based on what electricity price?
Re: Blockchains by number of nodes/validators
#176Earlier quoted context omitted.
So then that explains the price being as low as it is... nobody is actually using it... just sitting on it in the hopes that it might go up some day. Sigh. update: removed comment about ROI cause I didn't do the full maths.
> So then that explains the price being as low as it is... nobody is actually using it That comment makes no sense, since most cryptocurrencies have no use except speculation. The price is low (well, no lower than Doge) because Grin deters speculation, and hence much fewer people are willing to speculate on it. > ROI is 4300+ days Based on what electricity price?
> not counting the 'modest' power usage.
Re: Blockchains by number of nodes/validators
#177Earlier quoted context omitted.
Chia sounds like the biggest lost opportunity ever. Why not use the drives for cloud storage? Destroying a lot of HDDs and SSDs for nothing
Probably the same reason PoW is wasted on "useless calculations" instead of calculating protein folding or whatever. Because these useless calculations have cryptographic properties (one way functions) that make the process secure. Useful calculations instead of just calculating a simple hash function would either be risky in term of future security (because of unknown properties), or outright insecure.
Completely off topic and not really relevant to your comment buuutttt Banana coin’s ‘POW’ is based off protein folding and contributing to medical research. It’s a joke and you aren’t enabling consensus but you are getting banana emissions for ‘noble causes’, which I found was fun and regularly run it when I go to sleep.
Re: Blockchains by number of nodes/validators
#178Earlier quoted context omitted.
You’ve articulated why people call Bitcoin “digital gold”.
Totally. So what's the advantage of using crypto over a bar of gold then?
Because while gold bars might be technically decentralized, that doesn't mean they are practically decentralized too. In fact, gold bars are probably 99% centralized in corporate and governmental vaults, neither of which are openly audited. Also; lots of 'paper gold' is sold, suppressing the value of it.
Re: Blockchains by number of nodes/validators
#179Earlier quoted context omitted.
> it did validate all blocks, but it didn't have anything meaningful to say to the network That is a bit of an understatement of its function. If a miner produced a bad block (with, say, 51 btc block subsidy), and it pushed that block onto the network to my node, it would reject it and not propagate that block to others. This is a meaningful feature that is often overlooked. Looking at metrics like Realized Price and…
Very good point, I didn't think about the propagation function of the nodes. Indeed, a node would only propagate blocks it accepts as valid. But how does that help the network except by saving some bandwidth? In the end, "bad" blocks will and should propagate and should be rejected by every node that decides that the block is "bad". There isn't one node that is a gatekeeper for "bad" blocks. I think that whenever peo…
Nodes automatically forward valid blocks to all connected peers. This means that the initial miner would send it to, say, 100 peers, all of whom would reject it. Why send that block to anyone else, wasting resources and posing an attack vector (spamming the network with bad blocks, hogging resources and slowing/breaking the p2p network layer).