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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 14
      Replying to @hugohanoi @evoskuil and

      Hugo Nguyen Retweeted Eric Voskuil

      And again, you still haven't explained why same hardware cost in attack/defense == doesn't contribute to security. All I see is flawed reasoning: "X must be worthless because Y is better"-but that doesn't mean X is worthless. Not to mention, Y is not true!https://twitter.com/evoskuil/status/1029229754933624832 …

      Hugo Nguyen added,

      Eric Voskuil @evoskuil
      Replying to @evoskuil @hugohanoi and 3 others
      To contribute to confirmation security a factor must disproportionately favor market mining (which is the same as disfavoring the censor, given zero sum). Hardware costs and block subsidies affect both equally. Only fees favor market miners over the censor.
      2 replies 0 retweets 0 likes
    2. Kay Kurokawa‏ @kaykurokawa Aug 14
      Replying to @hugohanoi @evoskuil and

      I will try to explain: If a 51% attacker obtains some cheap ASIC's, it is true that he has an advantage. However, it is irrelevant to the security model if the 51% defender is willing to bear the cost of the attack by using more expensive miners (prev-gen/GPU).

      2 replies 0 retweets 2 likes
    3. Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @kaykurokawa @evoskuil and

      Again, this doesn’t explain how hardware cost contributes nothing to security. These 2 things you’re talking about are completely orthogonal.

      1 reply 0 retweets 0 likes
    4. Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @hugohanoi @kaykurokawa and

      Assuming: (a) avg hardware capacity of X TH/s (b) avg efficiency of Y J/GH Combined with: (c) avg block reward $R/day (d) 10-min-per-block constraint These 4 factors together create a _market equilibrium_ where there is an optimal level of hash rate (& mining hardware).

      1 reply 0 retweets 0 likes
    5. Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @hugohanoi @kaykurokawa and

      Sure, if the hash rate goes above the optimal level (e.g., in case of an attack), it costs roughly the same to the defender & the attacker, for any extra hash rate. No one disputes that. But that is *orthogonal* to the fact that there is an optimal level of hash rate.

      1 reply 0 retweets 0 likes
    6. Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @hugohanoi @kaykurokawa and

      A “majority” attack, by definition, has to take into account this hardware cost in acquiring majority hash rate - that was previously at equilibrium.

      1 reply 0 retweets 0 likes
    7. Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @hugohanoi @kaykurokawa and

      Budish took this hardware cost into consideration - and called it the stock cost (God, does anyone actually bother to read Budish paper?). The only difference between his & my calculation is the question of the price of prev-gen ASICs, not that the stock cost doesn’t exist!

      2 replies 0 retweets 0 likes
    8. Eric Voskuil‏ @evoskuil Aug 14
      Replying to @hugohanoi @kaykurokawa and

      It is possible that you are both wrong (see appeal to authority and ad populem logical fallacies).

      1 reply 0 retweets 0 likes
    9. Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @evoskuil @kaykurokawa and

      Weird comment. I think you misfire there ;-) Citing Budish is not appealing to authority nor ad populum - if I am, why would I reject his theory? lol. It’s called establishing a common baseline - something seems impossible with you in most of your arguments.

      1 reply 0 retweets 0 likes
    10. Eric Voskuil‏ @evoskuil Aug 14
      Replying to @hugohanoi @kaykurokawa and

      “...took this hardware cost into consideration... the only difference between his & my...” - IOW, I’m not alone (ad populem) and/or he is an authority and agrees with me (appeal to authority).

      1 reply 0 retweets 0 likes
      Hugo Nguyen‏ @hugohanoi Aug 14
      Replying to @evoskuil @kaykurokawa and

      dude, he is no authority on the matter and neither are you. I’m citing whatever argument that makes the most sense. Right now, that doesn’t include yours ;-)

      10:49 AM - 14 Aug 2018
      1 reply 0 retweets 0 likes
        1. Eric Voskuil‏ @evoskuil Aug 14
          Replying to @hugohanoi @kaykurokawa and

          It doesn’t matter whether he is or not. It is your logical error to use him as one. You did not cite an argument, you cited agreement by a person.

          0 replies 0 retweets 0 likes
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