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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Steve Barbour  ⛏‏ @SGBarbour Jun 11
      Replying to @hugohanoi @evoskuil and

      Assuming BetterHash makes improvements on lowering the cost to run a pool (BetterHash ‘Pool Protocol’ operator vs Stratum pool operator), then does that not incentivize more competition between pool operators, thus improving security?

      1 reply 0 retweets 2 likes
    2. Eric Voskuil‏ @evoskuil Jun 11
      Replying to @SGBarbour @hugohanoi and

      No, the incentive for competition remains unchanged. If there is a financial benefit to the protocol, they simply all upgrade.

      2 replies 0 retweets 2 likes
    3. Eric Voskuil‏ @evoskuil Jun 11
      Replying to @evoskuil @SGBarbour and

      1) No, this is unchanged vs. current pools. They of course have the "right" to change pools, but the larger pool wins. No improvement. 2) This is not a system security improvement, and is not necessarily an improvement. 3) No, in this case latency increases.

      2 replies 0 retweets 3 likes
    4. Hugo Nguyen‏ @hugohanoi Jun 11
      Replying to @evoskuil @SGBarbour and

      1/ That’s assuming pooling will be winner-take-all, which is possible but not guaranteed - why hasn’t one single pool dominated the market *already*?

      3 replies 0 retweets 2 likes
    5. Bob McElrath‏ @BobMcElrath Jun 11
      Replying to @hugohanoi @evoskuil and

      Because it would destroy confidence in the system. https://en.m.wikipedia.org/wiki/Ghash.io 

      1 reply 0 retweets 1 like
    6. Hugo Nguyen‏ @hugohanoi Jun 11
      Replying to @BobMcElrath @evoskuil and

      Precisely, so you can say that there is a natural force against pool monopoly - pools don't want to kill their golden goose. Even better if pools are forced to show their hands in the open, which is what BetterHash could do.

      1 reply 0 retweets 1 like
    7. Bob McElrath‏ @BobMcElrath Jun 11
      Replying to @hugohanoi @evoskuil and

      Bob McElrath Retweeted Bob McElrath

      It's a political solution to a computer science problem.https://twitter.com/BobMcElrath/status/1005921429840375808?s=19 …

      Bob McElrath added,

      Bob McElrath @BobMcElrath
      Political and economic solutions to computer science problems will always lose in the face of a well-engineered protocol, but political and economic solutions will always garner FAR more attention and investment, because people think they understand them and protocols are hard.
      2 replies 0 retweets 1 like
    8. Hugo Nguyen‏ @hugohanoi Jun 11
      Replying to @BobMcElrath @evoskuil and

      I would also love to just stay in the realm of computer science - but the fact is that Bitcoin is half-political in nature 😀 Decentralization needs active human participation.

      3 replies 1 retweet 2 likes
    9. Bob McElrath‏ @BobMcElrath Jun 11
      Replying to @hugohanoi @evoskuil and

      Unless a computer science solution is proven to NOT exist, we shouldn't compromise in the name of expediency.

      2 replies 0 retweets 1 like
    10. Hugo Nguyen‏ @hugohanoi Jun 12
      Replying to @BobMcElrath @evoskuil and

      Agreed! But this argument doesn’t apply here since a/ Bitcoin is a live, 100-bil-dollar network running in production & b/ pool mining centralization is *already* the political reality. BetterHash will improve on the status quo, not making things worse. It’s highly practical.

      2 replies 0 retweets 1 like
      Hugo Nguyen‏ @hugohanoi Jun 12
      Replying to @hugohanoi @BobMcElrath and

      Now if #braidpool is proven to work & we’re launching Bitcoin tomorrow, it’ll be a different story 🙂

      7:02 AM - 12 Jun 2018
      0 replies 0 retweets 0 likes

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