1,511 karma · joined February 25, 2014
Sorry if that sounds unnecessarily harsh. It’s not directed at you, parent commenter. I agree that this is the exact use case crypto was meant to solve. I just think it’s a tragedy how Blockstream and co have crippled bitcoin and its development.
It’s downright cancerous.
The phrase means "want" in the same way water "wants" to flow downhill.
I'm curious what it is about the Patreon model that doesn't sit right with you? To me it seems like it's both the most respectful monetization strategy to viewers, and provides the creator with a much more stable income than YT ads, YTP shares, or sponsors.
So I guess I agree with both you and the parent comment somewhat in that in general the bar is higher at FAANGs but at the same time I have multiple former colleagues from smaller companies who I consider to be excellent, passionate engineers but who cannot be lured to big tech by any amount of money or prestige (I’ve tried). While many passionless “arbitrary metric optimizers” happily join FAANGs and do whatever needs to be done to climb the ladder without a second thought.
To be clear I’m not trying to victim blame here, it’s just that if people actually understood what they were buying then they would have known this. FTX, and indeed all legally incorporated companies in the crypto space, are greedy scumbags antithetical to the entire purpose of crypto.
In theory it’s possible for a Bitcoin-like blockchain to record all of Visa’s transactions in a single giga-block with only a single mining hash attempt.
Transaction throughput is not meaningful here.
You cannot forge history, even with 100% of the hash power. Firstly, each transaction is cryptographically signed with the keys of the sender address. Secondly, each full node within the segmented network will have the full history.
The only thing you can do is publish different blocks to the segmented network than the blocks the outside network has. You cannot create arbitrary transactions. You can only censor others’ transactions within the segmented network. Since the mining difficulty will not adjust instantaneously your segmented network will fall behind the outside network in block height unless you control more hashing power than everyone else mining Bitcoin on either network combined. So as soon as anyone in your segmented network re-establishes connection with the outside network (and they will, they could receive a physical hard drive with the blockchain on it and rebroadcast to segmented nodes) all your work is for nothing.
You might say “yeah well I’ll publish an entire fake history that is MUCH longer than the outside network with lower difficulty so I can stay ahead”. Well, actually you can’t, because if you wanted vastly more blocks between Bitcoins inception and the present then the difficulty will necessarily be much higher because that’s how difficulty gets set, by how quickly blocks are produced. You would have to change the difficulty adjustment algorithm, creating a fork between your own malicious node(s) and the other nodes in your segmented network. Oh and by the way, you _still_ can’t create arbitrary transactions.
> The global bitcoin system is well within rearch of a hostile state 51%'ing it
I’ll believe it when I see it. They honestly have a better chance outlawing it and imprisoning anyone who’s ever used it.
Not everyone needs to run a node, and not everyone could, but it is totally feasible for an individual to run their own if they decide they can't trust anyone else for whatever reason. Especially if you were running a node specifically for the purpose of name resolution you could discard the vast, vast majority of data on the Ethereum blockchain (for example).
> what if someone gets a name and we as a society (i.e., justice, whatever) decides that they should not be in control of it? [...] and that's a problem.
No, that is a feature of a decentralized system. Individual node operators would be able to decide whether or not to serve particular records, but censorship resistance is one of the core features of blockchains in the first place.
> What if a private key is lost, the associated names are gone forever?
The association wouldn't be gone, it would just be unchangeable until it eventually expires. This is a known tradeoff if you are choosing ENS over traditional domain name registration.
> What if your private key is leaked by mistake and someone hostile take control of your name?
As opposed to today where someone hostile, like for instance the Afghani government (The Taliban), can seize your domain for any reason or no reason at all?
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I think we just have a fundamental disagreement about what types of features and use cases a name resolution system should have. That's completely fine, you're entitled to your own believes. You can use the system that most closely resembles your beliefs, and I'll use the one that most closely resembles mine. Fortunately for us different name resolution system can peacefully coexist due to the nature of name mappings. At least for now, none that I know of collide in namespace.