[1/*] Just to clarify, in the hopes of getting less lunacy in my mentions: I am a professional programmer. I have implemented novel hash functions before. I work on server code. I long ago read and completely understand the original BitCoin paper.
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[2/*] I know exactly what crypto _does_. The issue is not that I need the technology explained to me. The issue is that I disagree with the lofty claims about the benefits of blockchain as a consensus as opposed to less costly consensus protocols.
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[3/*] Either there are or aren't solid, thorough arguments for why blockchain is a necessary cost to bear for economic consensus protocols and cannot be substituted with weaker, cheaper protocols, or there aren't. I want to hear them. I am not currently hearing them.
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Replying to @cmuratori
What do you think of ADA or XRP? Aren't those "cheaper" consensus protocols as you describe them?
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Replying to @beast_pixels
More specifically, what I mean to say is, when someone argues that a particular consensus protocol does thing X, I will ask them to prove to me that a _weaker_ consensus protocol does not also achieve X in practice.
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Replying to @cmuratori @beast_pixels
Another way to say it would be, a claim has to be backed up by a solid argument that it does not degrade in practice to the same system we already have today, which is itself a form of distributed consensus algorithm.
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Replying to @cmuratori @beast_pixels
So the key aspect is to demonstrate that when fully adopted (ie., a significant portion of the world now uses cryptocurrency X), it actually provides some technological benefit _in practice_ not provided by our current currency regime.
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I personally believe this is _much harder to demonstrate_ than most people in crypto seem to think. But I am more than willing to be convinced.
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