11–20 of 33 posts
The one who devises a method to keep crypto people busy without them having negative effects on the real world might get the Nobel Peace Prize - or rather the Economics one? Maybe both - to express our deepest gratitude?
Kind of curious how you can actually ensure they actually have that unused space available. The article said it had to be empty.. couldn't someone just write their own disk driver that lies about the size of the drive?
Browsing the Chia FAQ, it looks like the Chia organization is busy pre-farming Chia coins for themselves with plans to loan them to companies to use:
> Why are we pre-farming?
> Chia has a novel business model to both, lower volatility of the coin and increase adoption. By loaning Chia and managing the interest rates of those loans as well as other tools like buying our stock with chia coins, we hope to lower the quarter to quarter volatility of the coin. To drive adoption, we intend to loan Chia to Global 5000 companies who will use it to pay their international vendors quickly, less expensively, and more securely.
This idea that companies will need to borrow a volatile currency to get payments done faster feels like a joke. Why must every fast payment scheme use arbitrary tokens with floating exchange rate instead of simply tapping into existing banking systems and representing existing currency holdings? No serious business wants to put a volatile cryptocurrency on their books just to transact a tiny bit faster.
Getting really fucking tired of these ponzi schemes creating massive collateral damages. Can the "industry" just move on to proof of stake and contain their damages to themselves?
Proof of stake is an oligarchy. The only proof-of-X that works is if X guarantees one person has the same voting power as another person. Finding X is currently an unsolved problem in mathematics and computer science. No cryptocurrency does this.
the problem is that this creates at best a concentric circular pattern of ownership (and thus leverage over liquidity), even if everyone involved is completely honest and ownership is 100% transparent. in reality it's far worse than that because pseudo anonymous address ownership means claims of "fair distribution" cannot be trusted let alone proven.
decentralization is a mirage.
Getting really fucking tired of these ponzi schemes creating massive collateral damages. Can the "industry" just move on to proof of stake and contain their damages to themselves?
Proof of stake is an oligarchy. The only proof-of-X that works is if X guarantees one person has the same voting power as another person. Finding X is currently an unsolved problem in mathematics and computer science. No cryptocurrency does this.
Kind of curious how you can actually ensure they actually have that unused space available. The article said it had to be empty.. couldn't someone just write their own disk driver that lies about the size of the drive?
Getting really fucking tired of these ponzi schemes creating massive collateral damages. Can the "industry" just move on to proof of stake and contain their damages to themselves?
Proof of stake is an oligarchy. The only proof-of-X that works is if X guarantees one person has the same voting power as another person. Finding X is currently an unsolved problem in mathematics and computer science. No cryptocurrency does this.
I would assume current SSD shortages are more related to global chip shortages and increased demand than a speculative cryptocurrency that hasn't even fully launched yet. Browsing the Chia FAQ, it looks like the Chia organization is busy pre-farming Chia coins for themselves with plans to loan them to companies to use: > Why are we pre-farming? > Chia has a novel business model to both, lower volatility of the coin a…
I see Bram Cohen got the original authors of "proof of space" or whatever this is to author papers with him, and also got inflationary pressure in there, but if that's the extent of research, well, that's still not how the economy works. At least ransomware gangs won't switch from encrypting to deleting stuff altogether for space.