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cmuratori's profile
Casey Muratori
Casey Muratori
Casey Muratori
@cmuratori

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Casey Muratori

@cmuratori

I'm worried that the baby thinks people can't change.

Seattle
caseymuratori.com
Joined March 2009

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    1. Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      This is (but one) of the reasons "blockchain" is not a particularly good idea. People want low-latency, high-volume transactions, but the designs of these systems preclude that possibility entirely. They are, by design, not able to do the thing you wanted them to do.

      5 replies 0 retweets 34 likes
    2. Max‏ @moistgibs Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      Throughput isn't a problem if block size scales (on BTC, notably, it does not). Latency remains, but various chains have addressed it with e.g. opt-in 0-confirmation transactions, where the payee accepts the double-spend risk.

      1 reply 0 retweets 0 likes
    3. Casey Muratori‏ @cmuratori Oct 10
      Replying to @moistgibs @TimSweeneyEpic

      It's unclear what "block size scales" means here, though. Block sizes can't be scaled arbitrarily because they are universally replicated state. The VISA volume would crush most nodes on the BitCoin network, etc., just for storage.

      2 replies 0 retweets 2 likes
    4. Max‏ @moistgibs Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      For example, BTC blocks are limited to 1MB. BCH 32MB. BSV blocks are variable and uncapped, and blocks >1GB have been mined. Throughput scales proportionally. This has storage implications for nodes of course - large block advocates contend that storage is cheap.

      1 reply 0 retweets 0 likes
    5. Casey Muratori‏ @cmuratori Oct 10
      Replying to @moistgibs @TimSweeneyEpic

      That is kind of obviously false, as is well-covered in the original Lightning Network paper.pic.twitter.com/LYRhULDJqS

      3 replies 0 retweets 2 likes
    6. Max‏ @moistgibs Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      Visa averages ~1.7K/sec according to quick google search. Yes storage still a problem, but divide TB/year by 25 or so. I'd expect some innovation if/when storage becomes a bottleneck. LN whitepaper may not be the best citation source, some would call it small-blocker propaganda

      1 reply 0 retweets 0 likes
    7. Casey Muratori‏ @cmuratori Oct 10
      Replying to @moistgibs @TimSweeneyEpic

      In theory it could be that if that rate doesn't increase, and storage does, in ten years or so it might be feasible to consider (eg., one 16TB drive per year of transactions right now would be unwieldy; in 10 years that may not be unwieldy because a single drive might store 64TB)

      1 reply 0 retweets 1 like
    8. Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @moistgibs @TimSweeneyEpic

      But again, not really a very compelling argument for adopting this technology. It's very inefficient either way, and this is just storage, to say nothing of how you actually go about efficiently validating transactions over a 16TB-per-year backing store.

      1 reply 0 retweets 0 likes
    9. Max‏ @moistgibs Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      Are we limiting the discussion to proof-of-work chains? There are proof-of-stake chains doing Visa-level transaction throughput today, e.g. Solana. One of the tricks they use is distributing storage across nodes.

      1 reply 0 retweets 0 likes
    10. Casey Muratori‏ @cmuratori Oct 10
      Replying to @moistgibs @TimSweeneyEpic

      Well, as with all things crypto, it's hard to have a broad discussion because different currencies do things differently, usually each with its own set of weaknesses that people like to pretend aren't there.

      1 reply 0 retweets 1 like
      Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @moistgibs @TimSweeneyEpic

      So it's hard to switch from talking about one to talking about another, because yes, the other coin will not have the same drawback, because it "fixed" the problem, but it usually "fixed" it by just creating a different problem somewhere else.

      6:26 PM - 10 Oct 2021
      • 2 Likes
      • David Deutsch Max
      1 reply 0 retweets 2 likes
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