Indeed the theory is so bad in this area that we need very large engineering margins for safety.
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Replying to @NickSzabo4 @bendavenport
Agree! Though this can be interpreted multiple ways, eg "we need the block size to be big with large safety margins so blocks don't clog up"
2 replies 6 retweets 34 likes -
Replying to @VitalikButerin @bendavenport
No. Clogging up is not a matter of safety (security): it's mainly just a matter of fees.
4 replies 4 retweets 45 likes -
Replying to @NickSzabo4 @bendavenport
When fees rise enough to make physical hologram millibitcoins unspendable, that's de-facto loss of funds. That *is* a security failure.
12 replies 40 retweets 182 likes -
Replying to @VitalikButerin @bendavenport
It's an extremely limited failure based on people using a blockchain in a way it could not sustainably be used (i.e. for micropayments).
7 replies 17 retweets 99 likes
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