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kinakomochidayo

174 karma · joined January 23, 2020

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kinakomochidayo··on Global high-performance proof-of-stake blockchain with erasure coding
No, not all PoS start with the creators having 100% of all coins. See Ethereum.
kinakomochidayo··on Global high-performance proof-of-stake blockchain with erasure coding
Ethereum is doing just fine after going PoS, in fact, it’s much more secure than when it was PoW from a security budget standpoint while achieving less inflation compared to Bitcoin, and will continue to remain secure compared to Bitcoin’s critical security budget issue as block rewards go down. It’s also special compared to other chains in that it started out as PoW for at least 7 years.

Bitcoin has ASIC monopoly and conflicts of interest with core devs connected to companies dipping into mining.

Solana and other chains are VC fueled crap though, I agree.

kinakomochidayo··on Global high-performance proof-of-stake blockchain with erasure coding
I don’t think Bitcoin whitepaper talks about ASIC monopoly and economies of scale :D
kinakomochidayo··on El Salvador's crypto experiment ends in failure
BTC in its current form is probably the biggest scam in existence right now. BTC does not work long term, as block rewards increasingly get cut in half and the transaction fees aren’t enough to incentivize the miners. It’s been well known outside the Bitcoin community, and slowly talked about within Bitcoin, with some core devs like Peter Todd talking about tail emission, but that would break the 21 million cap. Bitcoin is screwed.

https://www.cs.princeton.edu/~smattw/CKWN-CCS16.pdf

kinakomochidayo··on El Salvador's crypto experiment ends in failure
Which is ironic, considering how Bitcoin security budget will very likely decrease as time goes on with Bitcoin halvenings and low transaction fees going to miners
kinakomochidayo··on Tether and Circle are battling to win the US stablecoin market
I hope Circle wins out in the end. Tether is super sketch. The fact that they they’ve only done attestations but haven’t done a full audit says everything.
kinakomochidayo··on Bitcoin Reserve Bills Are Failing in Quick Succession in States
Good, there’s no reason to hold an asset with unaddressed critical security budget issues.

As block rewards get halved every 4 years, if the transaction fees remain low as it is today (due to ETFs, HODL, wrapped BTC, etc) the chain could get attacked.

kinakomochidayo··on Bybit loses $1.5B in hack but can cover loss, CEO confirms
https://en.bitcoin.it/wiki/Value_overflow_incident

Other transactions besides the one that created 184 billion BTC in that block was effectively “rolled back” on the working chain.

kinakomochidayo··on Bybit CEO Confirms Exchange Was Hacked for $1.46B
it was actually up to the node operators to update their clients or not, which resulted in a contentious chain split. just like Bitcoin. decentralization worked as intended.
kinakomochidayo··on Bybit CEO Confirms Exchange Was Hacked for $1.46B
let’s not forget that Satoshi rolled back Bitcoin in 2010, whereas Ethereum was a surgical state change within a smart contract
kinakomochidayo··on ADHD Didn't Break Me–My Parents Did
I remember Dr Gabor Mate mentioning how ADHD is from childhood traumas and upbringing and it resonates with me.

For me, it was a combination of my parents authoritarian parenting, and authoritarian school/environment, where teachers never checked in with me to see how I was doing.

Psychedelics was the only thing that helped me, and I haven’t taken prescribed medications in over 10 years since my powerful experience which physically helped me feel love and safety for the first time; things I never experienced at home.

More experiences with Ayahuasca over the past several years have helped me fully process most, if not all the traumas I remember (also helped me remember the ones I forgot!) and I’m now in a much better place mentally, emotionally, physically, and spiritually.

As a result, I think its fully possible to be neurodivergent without having disorders

kinakomochidayo··on No Bitcoin ETFs at Vanguard (2024)
Parent's point is weak - it's not possible right now for people around the world to hold fiat/stocks in their own centralized, custodial wallets due to stringent KYC/AML, and blockchains currently fill that need for stablecoins, and will fill that need for tokenized stocks, treasuries, etc.
kinakomochidayo··on No Bitcoin ETFs at Vanguard (2024)
I didn't say that mining would cease - it's that there would be way less incentive for people to mine, so less hash power, and more susceptible to 51% attacks.
kinakomochidayo··on No Bitcoin ETFs at Vanguard (2024)
There were only few others mining, so they mined many blocks for themselves through information asymmetry.

Would’ve been different if there were way more miners from the beginning

kinakomochidayo··on No Bitcoin ETFs at Vanguard? Here's why
There might’ve been only 2-4 others mining so yeah, they mined for themselves through information asymmetry
kinakomochidayo··on No Bitcoin ETFs at Vanguard? Here's why
Satoshi ninja-mined in the beginning for themselves. If they had posted about Bitcoin further in advance and had many more people mining, that would’ve been different.
kinakomochidayo··on No Bitcoin ETFs at Vanguard? Here's why
If it’s truly digital gold, that will only lead to the demise of the chain as a result of block rewards going down and not enough transaction fees to support the miners. Bitcoin truly has a security budget issue.
kinakomochidayo··on No Bitcoin ETFs at Vanguard? Here's why
There’s also ASIC manufacturing monopoly
kinakomochidayo··on No Bitcoin ETFs at Vanguard? Here's why
Then that means stablecoins aren’t needed.

And yet, reality disagrees with your logic and stablecoins are on track to be used even more.

Tokenization on Ethereum will end up being way more important and useful than pet rock Bitcoin.

kinakomochidayo··on No Bitcoin ETFs at Vanguard? Here's why
Bitcoin will need to add tail emission due to the security budget issues as block rewards go down and there isn’t enough transaction fees to support miners
kinakomochidayo··on Be a property owner and not a renter on the internet
Why would anybody own an asset with unresolved security budget issues?
kinakomochidayo··on Visa Introduces the Visa Tokenized Asset Platform
That’s unless they’re building on an Ethereum rollup, similar to what Sony and Coinbase are doing
kinakomochidayo··on A Brief History of Blockchain Interoperability
Why are you using mainnet Ethereum? People are on L2s like Arbitrum, Base, etc. Less than $0.001 for gas fees
kinakomochidayo··on Ask HN: Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC?
Lightning Network will never get widespread adoption because the UX is horrible.
kinakomochidayo··on Ask HN: Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC?
should just use USDC on Base instead - no high transaction fees like with Bitcoin, no crappy UX with Lightning, cheap transactions, free bridging, and no conversion fees for USDC -> USD unlike BTC -> USD.
kinakomochidayo··on Ask HN: Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC?
I don't think anybody would enjoy the UX with Lightning where payments regularly fail. And if you're asking them to use custodial services, that just introduces additional risk. Not to mention the fluctuation in value of BTC.

Better to use USDC on Base or Ethereum instead. or maybe USDT on Tron like many people around the world do.

kinakomochidayo··on Psilocybin desynchronizes the human brain
Probably depends on your objective.

Mushrooms are much gentler and forgiving than LSD when it comes to traumas.

kinakomochidayo··on Extraverted People Talk More Abstractly, Introverts Are More Concrete (2012)
I’ve always thought that it’s a difference between intuitives (abstract, and possibilties) vs sensors (concrete, and what is/was)
kinakomochidayo··on The Promise of 5-MeO-DMT
It’s probably important to differentiate NN-DMT and 5-MEO-DMT. I’ve heard that 5-MEO is much more intense than NN-DMT.

I’m assuming that you’re talking about NN-DMT. It can definitely shake up the foundations of your world view, especially if not taken with the right set and setting.

I don’t think it’s as common with the pure form, but there is a slight possibility of it revealing some underlying emotional issues. There are plenty of functional professionals who carry some significant childhood traumas and issues that may bubble up to the surface through these experiences.

kinakomochidayo··on The Promise of 5-MeO-DMT
Was the 5-MEO from the plants or toad? I heard that the toad one is much lighter than the plant one
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