Ethereum going crazy, like bitcoin

“I used to be able to read and write. Then I watched a streetbeefs video and became retarded.”

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Thoughts on #saito?

Interesting interview Saito Full Breakdown | Interview With Co-Founder David Lancashire - YouTube

Good read from someone that understands this on a deeper level than most.

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Fuck, i thought they were claiming August? I want my stake money back.

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Of course it’s true. A single miner winning the lottery and creating a block doesn’t change the fact that the more hash power you have the higher your expected rewards.

With PoW you use hash power to get rewards. With PoS you use coins to get rewards.

Neither is intrinsically more fair than the other IMO.

I’m not suggesting Bitcoin switch to PoS. I’m saying that to properly compare PoW and PoS you need to keep everything else constant (eg compare the same cryptocurrency with PoW vs PoS).

As an aside I think the one thing Bitcoin might fork for is if the threat of a quantum attack requires a fork. Adam Back might have to break out the Satoshi Nakamoto character one more time but if quantum resistance does require a fork Bitcoin will fork and that fork will become the new Bitcoin.

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I’ve l said that a few times early in this thread. I don’t think it’s a dealbreaker today but it will be no later than maybe 2030. BTC needs a fork to become quantum safe. If in that same fork they could figure out a zero trust zero knowledge ledger is probably be all in.

Lol You obviously don’t know what the fuck you’re talking about.

Why is using hash rate more fair than using coins to determine who creates the next block (and gets the rewards)?

The rich get richer with PoS, it takes no work. It’s that simple. The premined coin owners and exchanges can basically control it all.
Proof of work takes some actual work, some skill, some knowledge and effort, is more secure and isn’t beneficial to one group over another.
Fair doesn’t necessarily equal easy.

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PoW certainly increases decentralization.

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In a sense doing work does seem more impressive than just staking. Miners are working hard swinging their pickaxes while stakers sit on the beach drinking pina coladas…

But the point of this work is essentially just to distribute lottery tickets. The more work you do the more tickets you get and whoever finds the winning ticket gets to create the next block.

How is using computers and electricity as the basis for distributing these lottery tickets more secure than using coins?

doesn’t need a fork, it is inconceivable that a proposal to up the cryptography would not be accepted by all miners. And is one of the first rebuttals to the, ‘what wen quantum?’ question.

This wasn’t the flippening that I was told about.

eth/btc has nothing under it. expect freefall.

Why is it that every single time when I open this thread Oprah is shouting at me.

At least with an NFT you have something tangible.

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Hey, im just pointing out a reality.
you want to hold your hyperlink, enjoy it.

3 digits incoming.