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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 Sep 23

      Hugo Nguyen Retweeted Alex Mizrahi

      1/ CVE-2018-17144 happens and you see a bunch of PoW & Core haters coming out of the woodwork. But they still fail at basic logical reasoning.https://twitter.com/killerstorm/status/1043243532423753729 …

      Hugo Nguyen added,

      Alex Mizrahi @killerstorm
      These people tell us that PoS is unacceptable because it's "subjective", and then post on social media urging "watch the news" to get alerted about a possible chainsplit. You can't make this shit up. Intellectual dishonesty is palpable.
      Show this thread
      2 replies 4 retweets 31 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Sep 23

      2/ (a) Minimizing trust & social attack surface is the most important goal in Bitcoin. PoW plays a big role in fulfilling this goal. PoS is inferior in every ways in this regard.

      1 reply 1 retweet 15 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Sep 23

      3/ (b) All software has bugs. When we say Bitcoin software should be treated as nuclear-reactor software, it doesn’t mean there will be ZERO bugs. Just orders of magnitude safer.https://medium.com/@hugonguyen/proof-of-stake-the-wrong-engineering-mindset-15e641ab65a2 …

      2 replies 1 retweet 17 likes
      Show this thread
    4. Hugo Nguyen‏ @hugohanoi Sep 23

      4/ You can simultaneously believe in (a) & (b). There’s no contradiction here. Engineering is both about the minimization of catastrophic failures, AND still expect a reasonable rate of failures.

      1 reply 0 retweets 5 likes
      Show this thread
    5. Hugo Nguyen‏ @hugohanoi Sep 23

      5/ Such is the unfortunate nature of software. Software abstractions are great but often times they are constrained by human’s inability to reason with absolute precision & comprehensiveness, unlike a machine.

      1 reply 1 retweet 6 likes
      Show this thread
    6. Hugo Nguyen‏ @hugohanoi Sep 23

      6/ Human intellect is analog, while “perfect" software requires digital precision. I learned this lesson the hard way from 10+ years of writing software. I've seen many amazing & super intelligent programmers, I've seen no programmers that don't make (serious) mistakes.

      1 reply 0 retweets 5 likes
      Show this thread
    7. Hugo Nguyen‏ @hugohanoi Sep 23

      7/ CVE-2018-17144 is evidence that shit will hit the fans *despite how good of a dev team you have*. I can bet hands-down that for every serious bug Bitcoin Core has, there are numerous equally serious bugs in your centralized and/or PoS shitcoins.

      1 reply 0 retweets 11 likes
      Show this thread
    8. Hugo Nguyen‏ @hugohanoi Sep 23

      8/ PoS problems are apparent to many without even writing a single line of code 😛 That is another job of good engineers: to point out errors way before shit gets implemented. Engineers who correctly conclude PoS is inferior will potentially save you millions down the line.

      1 reply 0 retweets 6 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi Sep 23

      9/ CVE-2018-17144 also reaffirms my belief that the Bitcoin protocol should ossify quickly. We *might* not even get to integrate Privacy, but that’s the price we have to pay if we want to not jeopardize this soon-to-be trillion-dollar foundation. The stake is already too high.

      9:09 PM - 23 Sep 2018
      • 1 Retweet
      • 9 Likes
      • Cryptomania ChildrenOfAristotle Rearden Code Gabriel D Vine🛸 Marty Bent Ahmad Adelgary Sylvain Ribes Ariel Deschapell cachemoney
      2 replies 1 retweet 9 likes
        1. New conversation
        2. HODL me tighter‏ @LowBtc Sep 23
          Replying to @hugohanoi

          #ossifynow (h/t @hodlonaut ) This has been a valuable wake up call. Threats will only grow more serious and insidious as nation states start to get involved. ex: what if Iran, Argentina, etc buys BTC before it moons again? Think the USA will simply let them enjoy their gains?

          1 reply 0 retweets 5 likes
        3. HODL me tighter‏ @LowBtc Sep 23
          Replying to @LowBtc @hugohanoi @hodlonaut

          If BTC is anywhere close to as successful as many of us expect it to be, no group of developers will be left unharmed or unpenetrated. It's not safe for the protocol or them.

          0 replies 0 retweets 3 likes
        4. End of conversation
        1. New conversation
        2. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @hugohanoi

          People who are intellectually honest should base their decisions on detailed threat modeling and analysis. What I see from Bitcoin developers, on the other hand, is to **rationalize** the system designed by Satoshi 10 years ago.

          1 reply 2 retweets 2 likes
        3. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          Let's take, for example, alert system. Yes, alert system is not very decentralized. But consider two scenarios: With a functioning alert system, in case of a software bug merchants can be warned automatically and risk is prevented. Without alert system, merchants might not know

          1 reply 0 retweets 1 like
        4. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          about vulnerability and lose their fund. So it seems alert system is a clearly positive thing. Now, to do it properly, perhaps instead of naive method used by Satoshi it should be co-signed by multiple developers. Whether you want it or not, users already trust the developers

          1 reply 0 retweets 0 likes
        5. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          of software they run. 99.999% users have no capacity to review all the code, thus there's no way to make it trustless. If you are concerned that false messages can be distributed through alert system, well, create straight guidelines for users to verify those messages, share

          1 reply 0 retweets 0 likes
        6. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          this documentation beforehands, explain that they shouldn't just do what alert says but use other communication channels to validate information. Also users who prefer to be 100% decentralized/trustless should be able to disable alerts. Obviously, it should be an optional

          1 reply 0 retweets 0 likes
        7. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          feature and not a mandatory killswitch. So, here, in few tweets, I designed you an alert system which is a clear beneficial feature for the 99.999% of users. Do you disagree with that? This model -- analyzing actual threats which can affect actual users -- can also be used to

          2 replies 0 retweets 0 likes
        8. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          analyze the core protocol and improve it. But instead people prefer to handwave something about "decentralization" and "trustlessness" without ever considering the ACTUAL threat model. Did you ever consider what are you going to do in the scenario of a 51% attack? Suppose the

          1 reply 0 retweets 0 likes
        9. Alex Mizrahi‏ @killerstorm Sep 25
          Replying to @killerstorm @hugohanoi

          attacker has that amount of hashpower and does not mind burning 10 million dollars worth of electricity per day to DoS Bitcoin, what are you going to do? @gavinandresen actually had some plans for that, but current generation of bitcoiners would rather jerk each other off

          1 reply 0 retweets 0 likes
        10. 5 more replies

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