251–260 of 260 posts
I work for a large provider in the VCS/CI space. While I appreciate the varied opinions in the comments here on the perceived usefulness of Crypto, I think folks outside of the space simply do not understand how much time is being spent combating the issue. If we, for example, had a team of 20 working on our CI offering, we would have re-allocated at least 50% of them to work full-time on combating the miners. And th…
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...Can you expand on that a little further? I don't really understand what it means "to stake" in this context, or why more RPis (or other compute resources) wouldn't let you mine more/faster. Or if you have a link to a good resource for explaining how proof-of-stake works in a way that would clarify this, that would also be fantastic.
> more RPis (or other compute resources) wouldn't let you mine more/faster. Essentially, because there is no computationally intensive work being done. Proof-of-Stake is kind of like saying: "I have 100 of these coins staked in the network that I can't spend, because of my faith in the network, I'd like to validate this other transaction of 10 coins, the network should award me with 1 coin for validating this transac…
If you don't mind, then, can you explain what does allow for staking more coins at a time? That is, if I wanted to increase my rate of mining by 100x in a PoS system, how would I do it?
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“Basically the same bridge” is such a hilarious oversimplification that it makes your blame of the Federal Reserve even more amusing. No, absolutely no improvements in engineering, materials, process, or design in sixty years. No added overhead for environmental studies and other regulations. It’s all the Fed. Hacker News discussing economics is like arguing geopolitics with someone on peyote.
The thing is that "improvements in engineering, materials, process, or design" should make it cheaper, not more expensive. That's how it works in other industries. Although I don't think it's fair to put all the blame on the Fed. The same thing has happened in the UK and many other places.
Would it be an improvement to build my car out of wood rather than steel? It'd certainly make it a LOT cheaper!
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If it were a hedge against inflation, it would behave like a hedge against inflation, and yet it shows no similar characteristics to preexisting inflation hedges? hmmmmm
> yet it shows no similar characteristics to preexisting inflation hedges Is that because, so far, if you were to measure since its inception, it's outperformed any other hedge against inflation?
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In that same vein, I assume that anyone who comes out against crypto has little or no stake in it. And I’m usually correct.
That’s a revelation as mind blowing as noticing people against drugs tend not to consume them. Only crypto folks seem to think skin in the game is a prerequisite for criticism and objective discussion. Do you need to own other humans to form an opinion on slavery? Do you need to eat meat to form an opinion on being a vegetarian? Do you need to be in Congress to opine on its dealings? Why is cryptocurrency any differe…
Homosexuality.
It's such a common thing for people that are extremely vocal against homosexuality to end up being found having a same-sex affair, that I start to assume anybody who is extremely homophobic is actually just a deeply-closeted gay.
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> more RPis (or other compute resources) wouldn't let you mine more/faster. Essentially, because there is no computationally intensive work being done. Proof-of-Stake is kind of like saying: "I have 100 of these coins staked in the network that I can't spend, because of my faith in the network, I'd like to validate this other transaction of 10 coins, the network should award me with 1 coin for validating this transac…
Thanks for replying, even so late! If you don't mind, then, can you explain what does allow for staking more coins at a time? That is, if I wanted to increase my rate of mining by 100x in a PoS system, how would I do it?
If you want to stake more coins than you have, then you need to acquire coins by other means (ie. buy them off someone who doesn't want to stake them).
Stakers also have an incentive to trade some of their rewards instead of re-staking them, because they want the network to get utilised rather than simply be 100% staked.
> This rant has been a long time coming and is probably one of the most justified expressions of anger I've written for this blog yet. However, it will probably be the last one. You're free to disagree whatever you wish to, but from this to "I'm ashamed to share an industry". Hey man, who are you? Then I'm ashamed to share the web with you. It's fine to disagree/agree/comment, but I'm little bit triggered of your wor…
And he's right, that is so stupid as to be (colloquially; literally, "that it ought to be") criminal. The technology itself is evil to its roots.
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> yet it shows no similar characteristics to preexisting inflation hedges Is that because, so far, if you were to measure since its inception, it's outperformed any other hedge against inflation?
So did tulip bulbs, for a while.
> This rant has been a long time coming and is probably one of the most justified expressions of anger I've written for this blog yet. However, it will probably be the last one. You're free to disagree whatever you wish to, but from this to "I'm ashamed to share an industry". Hey man, who are you? Then I'm ashamed to share the web with you. It's fine to disagree/agree/comment, but I'm little bit triggered of your wor…
No, he's ranting about a "technology" based on wasting energy. And he's right, that is so stupid as to be (colloquially; literally, "that it ought to be") criminal. The technology itself is evil to its roots.