1/ What is handwaving & sloppy thinking is ignoring subtle but important differences between PoW & PoS. Such as the *degree of social consensus required* - in terms of both magnitude & frequency.https://twitter.com/killerstorm/status/1044522585663447040 …
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Well, they are clearly against using **any** metrics. If it was the issue with wrong metrics, surely they would have suggested right metrics, or how to come up with such, or research papers they like. But I see nothing like that. They just dismissed ALL academic research,
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wholesale. Obviously, there's some bad research, but if you dismiss the whole academia that means that your position can't be defended using rigorous reasoning.
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What do you expect? They are engineers
No offense to academics, but from what I've seen, the engineers have a *much* better grasp on Bitcoin fundamentals than most academics (even CS researchers), and the engineers are rightfully conservative when it comes to make-up metrics. -
If I have to choose whom to trust, I'd choose the engineers. Any day. Now that's not to say that's there's no quality research in crypto. I'm particularly a big fan of
@random_walker . http://randomwalker.info/publications/mining_CCS.pdf … -
Speaking of
@random_walker, his most recent paper formalizes the problems with PoS, from the aspect of pseudorandomness. Doesn’t surprise me one bit. Although he seems to still give PoS some benefit of the doubt
https://twitter.com/random_walker/status/1043552710086340609 …
End of conversation
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