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a_yawning_cat's profile
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@a_yawning_cat

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@a_yawning_cat

stray thoughts, loosely held. rat jaeger.

California, USA
aycat.substack.com
Joined December 2018

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    1.  🐈‏ @a_yawning_cat Jun 22

      proof of work vs proof of stake: proof of work is like all the magnetic ink, magical threads, watermarks, etc... getting all of this stuff takes effort and work

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    2.  🐈‏ @a_yawning_cat Jun 22

      proof of stake is like "why are u wasting so much energy and earth's resources creating these features, why don't you just arrest people who use fake dollars so that everyone is honest" getting caught using a fake dollar risks your freedom

      1 reply 0 retweets 6 likes
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    3.  🐈‏ @a_yawning_cat Jun 22

      the weakness of pos then is that it's honor system based. the stake is necessary b/c otherwise there is no risk. if a famous person gave you a stack of pos dollars you'd be like "ok sure" but if a homeless guy does so you'd be like "nah do u have venmo instead"

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    4.  🐈‏ @a_yawning_cat Jun 22

      with pow on the other hand the currency itself embeds a degree of proof to its validity. so much work went into it that it acts as a signature that can only be produced by a Higher Authority though for the dollar bill, even this can be overcomehttps://en.wikipedia.org/wiki/Superdollar …

      1 reply 0 retweets 2 likes
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    5.  🐈‏ @a_yawning_cat Jun 22

      between "full decentralization" and "full centralization" there likely exists a middle ground where the bulk of the excess friction and waste of a decentralization is reduced but the system is more trustworthy than a fully centralized one

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    6.  🐈‏ @a_yawning_cat Jun 22

      the u.s. dollar as cash ironically serves this purpose in many countries the fiat of the central gov is considered trash but the dollar, with all its fancy security threads and watermarks has enough embedded proof-of-work that it's valuable despite being centralized as well

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    7.  🐈‏ @a_yawning_cat Jun 22

      i'd rather use google drive than bittorrent or ipfs bc the user experience is so much better despite the centralization risk the downside is in places where google isn't trusted like china, there are more hoops to jump through

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       🐈‏ @a_yawning_cat Jun 22

      google has enough marketcap/reputation at "stake" that it's good enough for files even for more important things like savings & equity, vanguard, bank of america, fidelity, schwab, etc... all have enough "stake" to be trustworthy the problem is... so did lehman brothers...

      9:41 PM - 22 Jun 2021
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      • . subtle himbo body (375/400#DL) Radagast ⚡🌋
      1 reply 0 retweets 3 likes
        1. Ross Roams‏ @ross_roams Jun 23
          Replying to @a_yawning_cat

          Good thread

          0 replies 0 retweets 1 like
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