When your tech is incredibly wasteful, slow, can't scale and serves basically no real purpose then maybe you should just stop instead of trying to fix it.
Proof of stake or proof of work, it's still just the dumbest sort of capitalist excess.
I took a PhD course on blockchains and related consensus systems and yeah everything is a nightmare of power requirements and unclear mathematical rigor in a lot of instances (like Ethereums zero knowledge stuff has no actual published math backing it afaik). Same issue with the "privacy preserving" coins like Zcash and Monero, the math is just not there right now and all the developers just released their networks when they got VC funding.
Here's a recent paper that tries to analyze the security claims of several coins.
I mean to an extent the security claims are true, just not all of them are known to be and its not clear what modifications are required to prove the security properties they want. Monero is the most provably secure I think right now.
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When your tech is incredibly wasteful, slow, can't scale and serves basically no real purpose then maybe you should just stop instead of trying to fix it.
Proof of stake or proof of work, it's still just the dumbest sort of capitalist excess.
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The thing is that you can't really shut it down because it is so decentralized.
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So centralize it.
Dump NSA resources in until you have control of the network then destroy it.
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Which is why they allow it to exist.
I'm saying the idea that it's safe or independent is a pipe dream.
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btc and blockchain are solutions in search of a problem (that probably doesn't exist)
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That's a false analogy. Crypto is like if you took the first nuclear reactor and started building powerplants based on its design.
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I took a PhD course on blockchains and related consensus systems and yeah everything is a nightmare of power requirements and unclear mathematical rigor in a lot of instances (like Ethereums zero knowledge stuff has no actual published math backing it afaik). Same issue with the "privacy preserving" coins like Zcash and Monero, the math is just not there right now and all the developers just released their networks when they got VC funding.
Here's a recent paper that tries to analyze the security claims of several coins.
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I mean to an extent the security claims are true, just not all of them are known to be and its not clear what modifications are required to prove the security properties they want. Monero is the most provably secure I think right now.