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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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    John Backus‏ @backus Aug 13

    In the tech startup world, the engineering community shouts “avoid tech debt! Standards! Move slower!” Meanwhile, every successful startup is a mountain of tech debt. Beyond security, ETH’s community needs more tech debt. Ship that unfinalized EIP to mainnet, life is too short

    10:21 PM - 13 Aug 2018
    • 7 Retweets
    • 133 Likes
    • Saber B. Sayadi Blue Thylacine Jaime Sorgente Yenwen Feng Thomas Bergman PJ Ice Goose Josh Schwarzapel Jorge Camargo
    20 replies 7 retweets 133 likes
      1. John Backus‏ @backus Aug 14

        EDIT: People, I’m talking about building on top of Ethereum not building Ethereum itself. Also, note I said “beyond security”! I’m talking about people waiting for security unrelated standards to finalize for their dApps.

        0 replies 0 retweets 13 likes
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      2. Murad Mahmudov  🚀‏ @MustStopMurad Aug 14
        Replying to @backus

        You're thinking like a startup engineer with 3-month-horizon You need to think like a monetary architect with a 1000-year horizon This is the key difference. Money is about trust, security, anxiety-reduction. NOT moving fast and breaking things. Value Accrual = Money First

        1 reply 7 retweets 29 likes
      3. John Backus‏ @backus Aug 14
        Replying to @MustStopMurad

        This tweet was about building on top of Ethereum, not building Ethereum itself. I still think I disagree with this 1000 year time horizon thing (trust is important but not the only variable) but I’ll have to write a blog post for that (partially to help clarify my own thinking)

        1 reply 1 retweet 1 like
      4. Murad Mahmudov  🚀‏ @MustStopMurad Aug 14
        Replying to @backus

        To build a robust *Money* trust and perceived reliability are of utmost, predominant importance. That’s bare minimum. Why am I so obsessed with *Money*? Because it’s the only thing in this whole space that will *capture value*, not just create utility

        1 reply 0 retweets 4 likes
      5. Murad Mahmudov  🚀‏ @MustStopMurad Aug 14
        Replying to @MustStopMurad @backus

        most important for SoV, in my view:pic.twitter.com/k5H5jMrIIN

        0 replies 3 retweets 11 likes
      6. End of conversation
      1. Eli Krenzke‏ @eKRENZKE Aug 14
        Replying to @backus

        No. Just... No. You're talking about a borderless and self-sovereign currency. Don't rush proposals because you think it "captures" more value. Finalize proposals when it's ready, like Bitcoin. Bitcoin is not built on debt -- it was built as a reaction to it.

        0 replies 0 retweets 6 likes
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      1. Muharem Hrnjadovic‏ @al_maisan Aug 14
        Replying to @backus

        Also, https://xkcd.com/2030/ 

        0 replies 1 retweet 2 likes
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      1. Muharem Hrnjadovic‏ @al_maisan Aug 14
        Replying to @backus

        Err .. ETH is not a starup.. remember the DAO hack? Or the parity wallet screwups? There’s a lot of money riding on that tech (still). Maybe the lightning network that started with small amounts is a good example to emulate?

        0 replies 0 retweets 6 likes
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      1. Justin Moon‏ @JustinMoen Aug 14
        Replying to @backus

        IIUC you're saying ETH devs need to ship sooner. Tech debt is one way. Scope reduction is probably a better one.

        0 replies 0 retweets 3 likes
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      2. Christopher J. Rock‏ @ChrisJRock Aug 13
        Replying to @backus

        And software engineers are the only engineers with no faith in the reliability of their technology.

        2 replies 0 retweets 0 likes
      3. Paulo André‏ @prla Aug 13
        Replying to @ChrisJRock @backus

        And with good reason, because their technology is in fact not reliable. It’s just that the consequences of it don’t kill people (usually).

        0 replies 0 retweets 3 likes
      4. End of conversation
      1. Kacper Wikieł‏ @kacperwikiel Aug 14
        Replying to @backus

        YOLO DAO

        0 replies 0 retweets 2 likes
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      1. Paulo André‏ @prla Aug 13
        Replying to @backus

        Agreed, when the definition of success is exiting relatively fast. If it’s building a lasting company, you better care more about tech debt than the average does.

        0 replies 0 retweets 1 like
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      2. hikikomorphism 🏝 🛰️‏ @hikikomorphism Aug 13
        Replying to @backus

        you might be right in many cases, but projects like the DAO could have done with a bit less tech debt

        1 reply 0 retweets 1 like
      3. 1 more reply
      1. SylTi  ⚡‏ @SylTilt Aug 15
        Replying to @backus

        Ridiculous! You don't ship half backed financial application, unless you want peoples to lose a lot of money!

        0 replies 0 retweets 0 likes
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      1. Thuongvu‏ @Rainloft Aug 14
        Replying to @backus

        High ETH prices really threw a wrench in the works. Ethereum was this move fast platform, and all that money brought attention but a lot of unneeded risk when what I think should be #1 priority is speed of innovation.

        0 replies 0 retweets 0 likes
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      1. Jimi Smoot‏ @jsfour Aug 14
        Replying to @backus

        I agree if the debt can be paid. But on ETH contracts are immutable so it can never be paid or it’s very expensive. Look at the parity contract issue, the DAO, etc.

        0 replies 0 retweets 0 likes
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      1. Ran Reichman‏ @ranreichman Aug 14
        Replying to @backus

        That’s how you lose people’s money.

        0 replies 0 retweets 0 likes
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      2. ジェシー‏ @jessearmand Aug 14
        Replying to @backus

        Everyone accumulates tech debt, it’s only a matter of how much. Everyone does it regardless

        1 reply 0 retweets 0 likes
      3. ジェシー‏ @jessearmand Aug 14
        Replying to @jessearmand @backus

        Successful startups are perceiving their debt relative to their success, it’s an after effect analysis. Not a prediction.

        0 replies 0 retweets 0 likes
      4. End of conversation

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