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Children Playing Blockchain

jott.live

101–104 of 104 posts

Re: Children Playing Blockchain

#101

Earlier quoted context omitted.

http://www.paulgraham.com/gba.html Not sure blockchain fits the way PG defined "hacker." Blockchain needs to be more rigorous in implementation due to being in finance and its target preference with malicious hackers.

From your article: "It's called a hack when you do something in an ugly way. But when you do something so clever that you somehow beat the system, that's also called a hack. The word is used more often in the former than the latter sense, probably because ugly solutions are more common than brilliant ones. Believe it or not, the two senses of "hack" are also connected. Ugly and imaginative solutions have something in…

Except they really aren't that break through and imaginative. We had Merkel Trees, distributed algos, and consensus mechanisms beforehand. All the Satoshi paper did was to really solve the double spend problem by making people solve trival problems over and over. Hackers see this as wasteful as tech and as a societal contribution. We can build better systems that aren't as wasteful using proven methods. Keep in mind, here is not proof that staking will actually work, only proof of work has a proof.

Taking a small quote from the article that aligns with what you want to be cool doesn't make it so. In the end, for most people, blockchain will be like ACH or some internal system that a bank wrote. The entire financial system is not going on the blockchain, it's not replacing the dollar. Wait to see how the Digital Yuan plays out.

Keep pumping the fantasy tho, my diamond hands can hodl quite a bit.

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From Paul's article

Those in authority tend to be annoyed by hackers' general attitude of disobedience. But that disobedience is a byproduct of the qualities that make them good programmers. They may laugh at the CEO when he talks in generic corporate newspeech, but they also laugh at someone who tells them a certain problem can't be solved. Suppress one, and you suppress the other.

This attitude is sometimes affected. Sometimes young programmers notice the eccentricities of eminent hackers and decide to adopt some of their own in order to seem smarter. The fake version is not merely annoying; the prickly attitude of these posers can actually slow the process of innovation.

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Maybe pause to think about why HN has changed their attitude on blockchain from 2017. Pause, listen, and think

Re: Children Playing Blockchain

#102

Earlier quoted context omitted.

Aw buddy. You couldn't spare putting $100 in the Ethereum pre-sale? Anyway I'm not talking about direct competition, I'm talking about parasitism.

> I'm talking about parasitism. Much if not all of the anti–Proof-of-Work narrative and the debunking thereof can be characterized by Brandolini’s law [1]. ITT “Sure, the overwhelming majority of `$COIN` was premined by insiders or sold to prestigious investors for pennies in exclusive pre-ICOs, but look over there — Bitcoin mining is oh-so-unfair. Disclosure statement ? What’s that?” All the financially-motivated di…

10% is not a majority.

I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.

Re: Children Playing Blockchain

#103

Earlier quoted context omitted.

> I'm talking about parasitism. Much if not all of the anti–Proof-of-Work narrative and the debunking thereof can be characterized by Brandolini’s law [1]. ITT “Sure, the overwhelming majority of `$COIN` was premined by insiders or sold to prestigious investors for pennies in exclusive pre-ICOs, but look over there — Bitcoin mining is oh-so-unfair. Disclosure statement ? What’s that?” All the financially-motivated di…

10% is not a majority. I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.

> I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.

“On day one” it was possible to CPU mine Bitcoin on any ordinary Windows PC using a freely available open source GUI application.

Re: Children Playing Blockchain

#104

Earlier quoted context omitted.

10% is not a majority. I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.

> I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one. “On day one” it was possible to CPU mine Bitcoin on any ordinary Windows PC using a freely available open source GUI application.

To this day the UI for just sending transactions is pretty bad, so I can't imagine how bad it was on day one. I am interested to see a screenshot, if you could share.
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