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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 Bob McElrath

    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 …

    Hugo Nguyen added,

    Bob McElrath @BobMcElrath
    Replying to @hugohanoi
    I am constantly befuddled that everyone doesn't realize PoS is circular exactly as you describe. It's simply a logical error to think that you can somehow "fix" circular arguments.
    6:14 PM - 27 Sep 2018
    • 3 Retweets
    • 25 Likes
    • Bruno [crypto beret] Larvol Eric Lombrozo Kosnakov [NOCB] Cryptoconomy ⚡ vires_in_numeris Alex Hardy 🦊 dotglum Chandra Duggirala MD Michael ¯\_(ツ)_/¯⚡️
    4 replies 3 retweets 25 likes
      1. New conversation
      2. Hugo Nguyen‏ @hugohanoi Sep 27

        2/ Efforts to create Perpetual Motion Machines went on *well after* the Laws of Thermodynamics have been discovered (into the present day). And people still got duped. Btw, everyone should check out the history of Perpetual Motion. It’s fascinating https://en.m.wikipedia.org/wiki/History_of_perpetual_motion_machines …

        1 reply 0 retweets 7 likes
        Show this thread
      3. Hugo Nguyen‏ @hugohanoi Sep 27

        3/ Theory 2: Crypto space has been completely taken over by sociopaths. Many of them know deep down that PoS is a dead end, but they will milk this cow/manipulate people as long as they can.https://meaningness.com/geeks-mops-sociopaths …

        1 reply 0 retweets 11 likes
        Show this thread
      4. Hugo Nguyen‏ @hugohanoi Sep 27

        4/ Theory 2 is admittedly a more cynical take. But IMO it does have some merits. Can you think of some personalities in crypto who might fit the profile of a sociopath?

        1 reply 0 retweets 1 like
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      5. End of conversation
      1. New conversation
      2. paralleldown‏ @paralleldown Sep 28
        Replying to @hugohanoi

        I think some view it as broadening the range of players that can participate in consensus? Number of people w capital + laptop much larger than those that can fab 7nm si + have access to cheap power.

        1 reply 0 retweets 3 likes
      3. paralleldown‏ @paralleldown Sep 28
        Replying to @paralleldown @hugohanoi

        But it also closes some incentive loops that would significantly tighten the eth investment case - by linking cost of consensus to the opportunity cost of holding+locking up eth, you align holders and users in a symbiotic relationship that incentivizes eth to compete as SoV.

        0 replies 0 retweets 3 likes
      4. End of conversation
      1. Sazan  🌿 ⛓‏ @AvdiuSazan Sep 28
        Replying to @hugohanoi

        The boy has 2 theories 😊 why not make them 3?

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Pocketh‏ @digi_banc Sep 28
        Replying to @hugohanoi

        Apparently, you haven’t done your homework to understand what POS means for validators. There are penalties expected if uptime is not maintained properly. It requires investment and work. Right there, your post is invalidated.

        1 reply 0 retweets 0 likes
      3. Akanshu ( ͡° ͜ʖ ͡°)  ⚡‏ @JainArgh Sep 29
        Replying to @digi_banc @hugohanoi

        Compare it to mining hardware costs and investment in terms of electricity

        0 replies 0 retweets 0 likes
      4. End of conversation

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