OMG—everyone who cares about Proof-of-Work mining needs to read the entirety of https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b …. There are many major truth bombs in there. This is going to force me to rethink a lot.
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Replying to @VitalikButerin @zooko
Why do so many devs seem to think proof of stake wont work?
9 replies 0 retweets 9 likes -
Replying to @DougPolkPoker @zooko
I don't think any *serious academic* will tell you PoS doesn't work; rather, they might tell you that PoS has *different security assumptions*. CC
@el33th4xor6 replies 12 retweets 79 likes -
I think there is a general worry about the degree of centralization on PoS networks, as well as concerns as to how gameable block rewards will be
7 replies 1 retweet 21 likes -
That worry seems misplaced. With PoW, degree of decentralization is out of the devs' hands, at the whims of other people's Asic manufacturing abilities. PoS can provide much greater degree of decentralization.
6 replies 5 retweets 41 likes -
Replying to @el33th4xor @zooko and
My hypothesis, as yet unproven, is that the combination of proof of stake and proof of work will be superior to either one alone. The Average Is Over by
@tylercowen has similar theory on man-machine teaming.7 replies 8 retweets 37 likes -
Replying to @jgarzik @el33th4xor and
Isn't it perfect, then, that Dash just so happens to leverage such a model? :)
1 reply 2 retweets 11 likes -
Replying to @TheDesertLynx @jgarzik and
you mean
$DASH, the first DAO, already has an elegant solution years ago and no one was paying attention? i guess it’s hard to look outside of one’s crypto bubble

2 replies 0 retweets 5 likes -
I guess that's what happens when the space is dominated by speculation, no one actually does proper research into what's been applied and what's been successful.
1 reply 0 retweets 5 likes
and/or maybe people just intentionally close their eyes because conflict of interest 

#StoreOfDrama
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Yeah that too. Well ignoring it until it goes away doesn't work when competitors are making massive inroads in the real world.
1 reply 0 retweets 4 likes - 1 more reply
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