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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. Vijay Boyapati‏ @real_vijay Sep 8

      1/ #Ethereum is crashing (not just in USD terms but in BTC terms); has the demand for a decentralized world computer disappeared, or is something else at play? Let's consider the fundamentals from an economic point of view.pic.twitter.com/8ii9f4goMG

      88 replies 482 retweets 1,046 likes
      Show this thread
    2. Alan Keegan‏ @MisterKeegan Sep 9
      Replying to @real_vijay

      Thoughts on impact of PoS on reservation demand?

      1 reply 0 retweets 2 likes
    3. Vijay Boyapati‏ @real_vijay Sep 9
      Replying to @MisterKeegan

      Theoretically it could help but I strongly doubt POS is going to work at scale

      1 reply 0 retweets 3 likes
    4. Alan Keegan‏ @MisterKeegan Sep 9
      Replying to @real_vijay

      Why?

      1 reply 0 retweets 1 like
    5. Vijay Boyapati‏ @real_vijay Sep 9
      Replying to @MisterKeegan

      That subject is deserving of a tweet storm in and of itself. I suggest you look up the writing of @hugohanoi on this topic, he's great.

      1 reply 0 retweets 8 likes
    6. Hugo Nguyen‏ @hugohanoi Sep 10
      Replying to @real_vijay @MisterKeegan

      Hugo Nguyen Retweeted Hugo Nguyen

      🙏🏻😊 This thread gives a good summary of what I’ve written on the topic. From the engineering perspective, PoS is unlikely to work / offer any real benefit over PoW.https://twitter.com/hugohanoi/status/1021831408489136128 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      "Irretrievable sunk cost" is the key in PoW. The "stake" used in PoS creates a temporary illusion of security/immutability. It's neither sunk nor irretrievable, and that's a fundamental flaw you can never get around. https://twitter.com/francispouliot_/status/1021563523598573568 …
      Show this thread
      2 replies 3 retweets 7 likes
    7. Hugo Nguyen‏ @hugohanoi Sep 10
      Replying to @hugohanoi @real_vijay @MisterKeegan

      From the economic perspective, PoS has zero impact on “reservation demand” beyond what’s being offered by PoW. Any extra reservation demand that comes from staking will only exist to the extent that MR stays > MC: this demand is fleeting & won't last.

      3 replies 3 retweets 11 likes
    8. Hugo Nguyen‏ @hugohanoi Sep 10
      Replying to @hugohanoi @real_vijay @MisterKeegan

      The financial cost of staking will eventually rise to meet the reward. Staking is not “free” as many believe. So in the “reservation demand” department, PoS is no better than PoW.

      1 reply 1 retweet 3 likes
    9. Hugo Nguyen‏ @hugohanoi Sep 10
      Replying to @hugohanoi @real_vijay @MisterKeegan

      I’d also piggy-back on Vijay’s wonderful thread 😛 The reservation demand of Ethereum is artificial: people hold ETH less because they believe it is a good Store-of-Value, but more because they believe others will be forced to use ETH as a vehicle for dApps.

      2 replies 2 retweets 4 likes
      Hugo Nguyen‏ @hugohanoi Sep 10
      Replying to @hugohanoi @real_vijay @MisterKeegan

      As we’ve seen with the smartphone revolution, the “apps economy” can be quite unpredictable. Apps go in & out of favor quickly, even things like FB. “dApps economy”, if one truly exists (assuming ETH can overcome its engineering problems, which is a huge ask), is a lot worse.

      2:57 AM - 10 Sep 2018
      • 1 Retweet
      • 2 Likes
      • Sar Haribhakti Paco Taco
      1 reply 1 retweet 2 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Sep 10
          Replying to @hugohanoi @real_vijay @MisterKeegan

          Because Ethereum’s reservation demand is forced / artificial, it can evaporate as quickly as dApps go out of style (if they manage to work in the 1st place). In contrast, Bitcoin’s “conservative” utility of being sound money, will never go out of style.

          1 reply 1 retweet 9 likes
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