Bitcoin "can sustain about the same rate of account-updates as, say, a team of human slide-rule operators" -@graydon_pub
.@petertoddbtc you should look into @graydon_pub’s work… I think something like it will eventually kill Bitcoin /cc @matthew_d_green
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@bascule@graydon_pub@matthew_d_green His work uses weaker security models than Bitcoin; it won't kill Bitcoin; it may succeed it. -
@petertoddbtc@graydon_pub@matthew_d_green consensus by a proof-of-work-powered lottery makes Bitcoin a wasteful and slow protocol -
@bascule@graydon_pub@matthew_d_green So? It works. Other options trade off cost for vulnerabilities, nothing at stake, Sybil attacks, etc. -
@petertoddbtc@graydon_pub@matthew_d_green there are other solutions to those problems than a costly proof of work -
@bascule@graydon_pub@matthew_d_green I'm well aware of them; hell, I've designed a few. But they have vulnerabilities that PoW doesn't. -
@petertoddbtc@graydon_pub@matthew_d_green I think I’ve reached my blockchainiac limit. Have a nice rest of your day -
@bascule@graydon_pub@matthew_d_green You'd have much more luck arguing the (correct) point that PoW solves a niche problem that few have.
End of conversation
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