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backus's profile
John Backus
John Backus
John Backus
@backus

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John Backus

@backus

Seeking alternative compression. Hopefully wrong on average. Shameless. Started @getcognito and @bloom

San Francisco, CA
Joined August 2012

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    1. John Backus‏ @backus Aug 9

      Me, talking to any computer security professional that will listen to me: > Why aren’t you doing smart contract auditing you maniac?? > People are making like $50k for 4 weeks of work!!

      6 replies 5 retweets 35 likes
    2. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
      Replying to @backus

      Some people prefer to work on projects for their future impact rather than merely their own personal financial gain. Many of the Bitcoin core developers could have gone this route if they didn't value their reputations.

      1 reply 1 retweet 1 like
    3. John Backus‏ @backus Aug 9
      Replying to @michaelfolkson

      Yea, but these people are almost always mercenaries for large consulting companies.

      1 reply 1 retweet 0 likes
    4. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
      Replying to @backus

      And those large consulting companies pay them $50K for 4 weeks work? If (and it is an if because I don’t know) they do a lot of work for consulting cos they are still reducing their earning potential by avoiding ICO projects for ethical and/or reputational reasons.

      1 reply 1 retweet 0 likes
    5. John Backus‏ @backus Aug 9
      Replying to @michaelfolkson

      I was saying that the people not auditing contracts are usually at big consulting companies and being paid less. Smart contracts aren’t only for ICOs. Also I don’t think there is reputational/ethical risk for auditing.

      1 reply 1 retweet 1 like
    6. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
      Replying to @backus

      If you think the project has approx 0% chance of succeeding and people are going to lose tens/hundreds of millions of dollars perhaps you don’t want your name or your company’s brand associated with the project? Especially by profiting from the existence of that project.

      1 reply 0 retweets 0 likes
    7. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
      Replying to @michaelfolkson @backus

      I’m pretty sure the auditors or consultants of Enron, Theranos etc would’ve preferred to have not been involved/associated with them post hoc.

      1 reply 0 retweets 0 likes
      John Backus‏ @backus Aug 9
      Replying to @michaelfolkson

      I'm not really sure what we're talking about at this point. Yeah, if the company was guaranteed bad news then people wouldn't want to be associated. Real life though? Most stuff isn't clear cut. Of course I wasn't talking about doing work for clearly malicious people.

      5:41 PM - 9 Aug 2018
      • 1 Like
      • Trenton Van Epps
      1 reply 0 retweets 1 like
        1. New conversation
        2. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
          Replying to @backus

          I know for a fact some of the Bitcoin core devs think Ethereum is a scam. And therefore projects built on top of Ethereum have to be scams too. You can’t build a business/protocol on top of a scam.

          2 replies 0 retweets 1 like
        3. antiprosynthesis‏ @antiprosynth Aug 10
          Replying to @michaelfolkson @backus

          Sounds to me like those Bitcoin core developers should step out of their echo chamber once in a while. Ethereum, as well as Bitcoin, the USD or internet for that matter, is *used* for nefarious purposes. That makes none of these a scam though. The bane of uncensorable platforms?

          2 replies 0 retweets 0 likes
        4. Michael Folkson  ⚡️‏ @michaelfolkson Aug 10
          Replying to @antiprosynth @backus

          The concern isn’t that Ethereum is used for nefarious purposes. All fungible currencies are. The concern is that it can’t scale securely and in a decentralized manner. If it is centralized it is censorable, in which case it is difficult to argue why a blockchain is needed at all.

          1 reply 0 retweets 0 likes
        5. antiprosynthesis‏ @antiprosynth Aug 10
          Replying to @michaelfolkson @backus

          Bitcoin suffers from the exact same lack of incentive for running a full node. Making it marginally more easy to run one is a bandaid at best I'd say.

          1 reply 0 retweets 0 likes
        6. Michael Folkson  ⚡️‏ @michaelfolkson Aug 10
          Replying to @antiprosynth @backus

          "Marginally" being the key word here. Marginally easier won't make a difference. Significantly easier is the aim.

          1 reply 0 retweets 0 likes
        7. antiprosynthesis‏ @antiprosynth Aug 10
          Replying to @michaelfolkson @backus

          That is still fighting the symptoms rather than the cause. While a full node should obviously be runnable by regular hardware (definitions vary on the threshold), making it runnable on primitive hardware at the cost of fundamental usability is misguided. We can agree to disagree.

          0 replies 0 retweets 1 like
        8. End of conversation

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