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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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    Hugo Nguyen‏ @hugohanoi Sep 27

    Hugo Nguyen Retweeted Arvind Narayanan

    An apt summary of most if not all of non-PoW protocols: "we solve distributed consensus on X by assuming we have solved distributed consensus on Y." In the process you'd get fancy terms like "randomness beacon" that sounds sophisticated, but in reality just obfuscates the issue.https://twitter.com/random_walker/status/1043613473974964224 …

    Hugo Nguyen added,

    Arvind NarayananVerified account @random_walker
    The consensus problem intuitively sounds trivial but is fiendishly hard. A common trap is to design protocols that assume a solution to consensus… without even realizing it. Prime example: "All nodes generate the same pseudorandom value by observing astronomical phenomena." https://twitter.com/random_walker/status/1043610027070754821 …
    12:12 AM - 27 Sep 2018
    • 5 Retweets
    • 31 Likes
    • Cryptoconomy ⚡ Anthony Lusardi nic carter Admir Tulic fengyuncrawl Sean Erle Johnson Evergreen Bear Nathaniel Whittemore Rearden Code
    5 replies 5 retweets 31 likes
      1. New conversation
      2. Hugo Nguyen‏ @hugohanoi Sep 27

        You'd then get these diabolical white papers that go on for pages, filled with formulas no less, to prove the robustness of these protocols. All starting off of a circular reasoning fallacy. But math, right? 🙄

        2 replies 0 retweets 13 likes
        Show this thread
      3. Hugo Nguyen‏ @hugohanoi Sep 27

        It's surely intimidating if you're new to crypto. All these smart-sounding people writing all these smart-sounding words. Their papers so thick, their formulas so fancy. They can't be all wrong, right? Some of this is due to pure incompetence, but some are outright scammy.

        2 replies 1 retweet 10 likes
        Show this thread
      4. Hugo Nguyen‏ @hugohanoi Sep 27

        The crypto scene of today must have been very similar to the early days of science, when people still believed in Perpetual Motion and the idea of getting something out of nothing. One day we will look back and laugh at all this insanity. 😛

        0 replies 2 retweets 10 likes
        Show this thread
      5. End of conversation
      1. New conversation
      2. Distributed Paul Technology‏ @SauceryCoin Sep 27
        Replying to @hugohanoi

        Distributed consensus went unsolved for like 30+ years now everyone has their own solution 🤨

        1 reply 0 retweets 3 likes
      3. Hugo Nguyen‏ @hugohanoi Sep 27
        Replying to @SauceryCoin

        Right? lol.

        0 replies 0 retweets 2 likes
      4. End of conversation
      1. New conversation
      2. Datavetaren‏ @Datavetaren Sep 27
        Replying to @hugohanoi

        What I find odd is that so many reasonably smart people are misled.

        1 reply 0 retweets 2 likes
      3. Hugo Nguyen‏ @hugohanoi Sep 27
        Replying to @Datavetaren

        Hugo Nguyen Retweeted Hugo Nguyen

        Very odd indeed.https://twitter.com/hugohanoi/status/1045481925425524736?s=21 …

        Hugo Nguyen added,

        Hugo Nguyen @hugohanoi
        1/ I’m befuddled too. I have 2 theories on PoS popularity: Theory 1: there is some strong mental block/bias that blinds people. The idea of getting something from nothing might prove to be too attractive. Just look at how long people searched for Perpetual Motion Machines. https://twitter.com/BobMcElrath/status/1045465795193655296 …
        Show this thread
        1 reply 0 retweets 0 likes
      4. Datavetaren‏ @Datavetaren Sep 27
        Replying to @hugohanoi

        I’ve used the analogy of thermodynamics and ”perpetum mobile” myself but in the context of ”blockchain not #bitcoin.”

        0 replies 0 retweets 2 likes
      5. End of conversation
      1. New conversation
      2. Joel Kaartinen  ⚡‏ @jkaartinen Sep 27
        Replying to @hugohanoi

        Some practical examples on what these assumptions are for some actual projects would be a nice addition that'd help get a handle on what you're talking about.

        1 reply 0 retweets 0 likes
      3. Hugo Nguyen‏ @hugohanoi Sep 27
        Replying to @jkaartinen

        most PoS protocols :-) you only have to look up how they address randomness / claim to be able to generate randomness by consensus.

        0 replies 0 retweets 0 likes
      4. End of conversation
      1. New conversation
      2. Alex Mizrahi‏ @killerstorm Sep 27
        Replying to @hugohanoi

        How does Bitcoin solve the problem of establishing a genesis block and protocol rules? Isn't it a consensus problem? To avoid the "turtles all way down" problem, ANY system needs to be rooted in human consensus. It's just that with Bitcoin you consider this setup a common

        1 reply 0 retweets 2 likes
      3. Alex Mizrahi‏ @killerstorm Sep 27
        Replying to @killerstorm @hugohanoi

        knowledge, but for a new protocol you're going to complain about a lack of technical solution to the consensus about initial parameters. The solution to consensus bootstrapping problem can be understood as a Schelling point https://en.wikipedia.org/wiki/Focal_point_(game_theory) … , kinda fascinated concept on

        1 reply 0 retweets 0 likes
      4. Alex Mizrahi‏ @killerstorm Sep 27
        Replying to @killerstorm @hugohanoi

        its own. Obviously, when Bitcoin was announced, people DID NOT have to use the genesis block generated by Satoshi, that DID NOT have to download binaries & code from http://bitcoin.org  and run it, they DID NOT have to use SHA256^2 for mining. But it was obvious to everyone,

        1 reply 0 retweets 0 likes
      5. Alex Mizrahi‏ @killerstorm Sep 27
        Replying to @killerstorm @hugohanoi

        and that's what they did. It works same way with PoS or any other consensus systems: initial steps are obvious. The goal of the protocol is to maintain the consensus once its already going.

        0 replies 0 retweets 0 likes
      6. End of conversation

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