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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. Hugo Nguyen‏ @hugohanoi Aug 13

      You did not "miss" a step in his logic ;-) His logic is full of jumps. Comparing block subsidy to mining investment is ridiculous. They're nothing alike. I'm not gonna go into Chia (not relevant).

      1 reply 0 retweets 1 like
    2. Hugo Nguyen‏ @hugohanoi Aug 13
      Replying to @hugohanoi @SGBarbour and

      Block subsidy is built-in to the consensus code & by design will go away. So of cos it has zero value in the long term calculations. You can't say the same about hardware cost. It will always be a non-zero factor. Please.

      1 reply 0 retweets 0 likes
    3. Eric Voskuil‏ @evoskuil Aug 13
      Replying to @hugohanoi @SGBarbour and

      Actually I was referring to non-zero block subsidy. Referring to the eventual zero subsidy as having zero confirmation security value would be sort of pointless, so I didn’t feel it was necessary to spell it out.

      1 reply 0 retweets 0 likes
    4. Eric Voskuil‏ @evoskuil Aug 13
      Replying to @evoskuil @hugohanoi and

      It does not follow that a mining factor with a nonzero absolute cost is a positive security contribution. You are assuming this to be true, and I have explained to you why it is not.

      2 replies 0 retweets 1 like
      Hugo Nguyen‏ @hugohanoi Aug 13
      Replying to @evoskuil @SGBarbour and

      Hugo Nguyen Retweeted Eric Voskuil

      The only tweet I see you "explaining" this argument is this "the censor bears the same cost as the non-censor". How does that explain that hardware cost is a non factor again?! Color me unconvinced.https://twitter.com/evoskuil/status/1029204845566124034 …

      Hugo Nguyen added,

      Eric Voskuil @evoskuil
      Replying to @evoskuil @hugohanoi and 2 others
      Given that you don’t seem to understand why hardware is zero-valued in terms of bitcoin confirmation security, I will explain. It is the same reason that the block subsidy is zero-valued in the same context. The censor bears the same cost (or reward) as the non-censor.
      9:52 PM - 13 Aug 2018
      1 reply 0 retweets 0 likes
        1. Eric Voskuil‏ @evoskuil Aug 13
          Replying to @hugohanoi @SGBarbour and

          If both market and censor are affected proportionally by all factors the censor can stay entrenched forever at no cost beyond its fully-recoverable capital investment. Hardware cost and block subsidy are proportionate factors, fees are not.

          0 replies 0 retweets 1 like
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