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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 29

    Hugo Nguyen Retweeted Emin Gün Sirer

    1/ Emin again with the BS that PoW’s role is merely a “Sybil-controlled mechanism”. (And therefore PoS is a reasonable drop-in replacement.) It’s the classic mistake domain experts make when analyzing systems purely from their Point-of-View.https://twitter.com/el33th4xor/status/1046042561067003904 …

    Hugo Nguyen added,

    Emin Gün SirerVerified account @el33th4xor
    Replying to @zooko
    No no, the entire discussion groups all uses of PoS as if they are equivalent, and misses the crucial distinction that it's the consensus algos that matter, not the Sybil control mechanisms.
    11:01 AM - 29 Sep 2018
    • 42 Retweets
    • 144 Likes
    • Who Accepts Crypto  ?? Stein H Ludvigsen re.Phil Reina Nakamoto 🕊 Martin Skieller Thomas Bakketun Beep Boop Pat⚡️ Hipstercryptster MuchBitcoin⚡[patch/upgrade ur bitcoin core client]
    12 replies 42 retweets 144 likes
      1. New conversation
      2. Hugo Nguyen‏ @hugohanoi Sep 29

        Hugo Nguyen Retweeted Emin Gün Sirer

        2/ Here is Emin’s original “lecture” for reference https://twitter.com/el33th4xor/status/1006931729679044608?s=21 … I seriously hope Emin is not the only one teaching blockchain at @Cornell. Because he is dead wrong.

        Hugo Nguyen added,

        Emin Gün SirerVerified account @el33th4xor
        Proof-of-Work and Proof-of-Stake are **sybil control mechanisms**. PoS doesn't achieve consensus by itself. It has to be coupled with a protocol, such as PBFT, or Ben-Or, or Tendermint/Cosmos, or Avalanche, to make decisions.
        Show this thread
        2 replies 3 retweets 39 likes
        Show this thread
      3. Hugo Nguyen‏ @hugohanoi Sep 29

        3/ Reducing PoW’s role to Sybil control is like an alien looking at cars and conclude that their main purpose is for protecting people from external objects. When they try to create the same thing, they might end up with something like the Flintstones’ car. 🙄pic.twitter.com/yMnFWQ9fHA

        1 reply 2 retweets 35 likes
        Show this thread
      4. Hugo Nguyen‏ @hugohanoi Sep 29

        4/ Where pure-CS-type PoS people fail is a complete disregard for (a) economics (b) history & (c) physics. The same way people chased Perpetual Motion completely disregarded (a) (b) & (c), although they had a better excuse since they didn't possess the right conceptual tools.

        3 replies 4 retweets 32 likes
        Show this thread
      5. Hugo Nguyen‏ @hugohanoi Sep 29

        5/ If an object has value, people *will* spend effort to chase it, up to whatever the object is worth. MC=MR, in other words. PoS won’t save you from PoW’s “waste”, cost just manifests in a different way. “Nothing is cheaper than PoW”. h/t @Truthcoin http://www.truthcoin.info/blog/pow-cheapest/ …

        2 replies 6 retweets 54 likes
        Show this thread
      6. Hugo Nguyen‏ @hugohanoi Sep 29

        6/ PoW is what gives Bitcoin “unforgeable costliness”, something few CS people would even try to analyze. @NickSzabo4 spent years researching & elaborately explained in his study on the Origin of Money: (Good) money *must* have unforgeable costliness. https://nakamotoinstitute.org/shelling-out/ 

        3 replies 13 retweets 59 likes
        Show this thread
      7. Hugo Nguyen‏ @hugohanoi Sep 29

        7/ PoW is a lot more than Sybil-control, it gives digital blocks real-world weight, the same way Gold has real weight. What are blocks but simply a bunch of 1s & 0s? PoW is the _bridge_ between the digital & the physical.https://bitcointechtalk.com/the-anatomy-of-proof-of-work-98c85b6f6667 …

        2 replies 9 retweets 60 likes
        Show this thread
      8. Hugo Nguyen‏ @hugohanoi Sep 29

        8/ Value doesn’t come from nothing, it doesn’t arise just because a bunch of people collectively decide that some digital strings have value via their computer nodes - which is what Proof-of-Stake does.

        3 replies 2 retweets 32 likes
        Show this thread
      9. Hugo Nguyen‏ @hugohanoi Sep 29

        9/ Like many astutely observed, if it was possible to create money this way (by hooking up a bunch of computers together), we wouldn’t have to wait until now. Make no mistake, PoW mining & Nakamoto consensus are crucial in the creation of digital hard money.

        3 replies 3 retweets 28 likes
        Show this thread
      10. Hugo Nguyen‏ @hugohanoi Sep 29

        10/ P.S. This type of tunnel vision & pretense of knowledge is what spawns a bunch of ludicrous ideas in the crypto space. From PoS to Ethereum to utility tokens.

        6 replies 5 retweets 41 likes
        Show this thread
      11. Hugo Nguyen‏ @hugohanoi Sep 30

        Hugo Nguyen Retweeted Hugo Nguyen

        11/ *Note: Unforgeable costliness is *not* the same thing as the labor theory of value:https://twitter.com/hugohanoi/status/1046105642870681600?s=21 …

        Hugo Nguyen added,

        Hugo Nguyen @hugohanoi
        Replying to @el33th4xor
        You're missing half the equation. Energy cost doesn't *guarantee* value, but all things valuable must cost energy. The other required ingredient is un-forgeability.
        1 reply 0 retweets 9 likes
        Show this thread
      12. Hugo Nguyen‏ @hugohanoi Sep 30

        Hugo Nguyen Retweeted Hugo Nguyen

        12/ Note #2: don’t confuse the *creation* of value with the *transfer* of valuehttps://twitter.com/hugohanoi/status/1046125820161323008?s=21 …

        Hugo Nguyen added,

        Hugo Nguyen @hugohanoi
        Replying to @SGBarbour @el33th4xor
        Not quite, @el33th4xor is still wrong. Staking *itself* requires little to no energy expenditure. Emin is confusing the creation of value (internally) from the *transfer* of value.
        2 replies 1 retweet 9 likes
        Show this thread
      13. End of conversation
      1. New conversation
      2. Red Lightning‏ @cinnabar3 Sep 30
        Replying to @hugohanoi

        So glad to see one more person recognizing Prof. Emin's false teaching. Emin has been doing this for a number of years & when being called out, he blocks his critics. He's also been a vicious troll, paid by @Cornell (& taxpayers) to teach but spending most of his time on Twitter

        1 reply 1 retweet 13 likes
      3. Cyril Grunspan‏ @CGrunspan Oct 1
        Replying to @cinnabar3 @hugohanoi @Cornell

        Yes. I'm glad to see that I am not the only one to share this opinion. I will add that he tried several times to discredit our work with @rperezmarco. https://arxiv.org/pdf/1805.08281.pdf … His behaviour is scientifically unethical. Don't pay attention to this troll.

        0 replies 1 retweet 7 likes
      4. End of conversation
      1. New conversation
      2. Diego 'Not giving away Crypto' Gutierrez-Zaldivar‏ @dieguito Sep 29
        Replying to @hugohanoi

        I don't agree with the tone (ie: using terms like BS) but I agree PoS and PoW are not interchangable.

        2 replies 0 retweets 6 likes
      3. Buzz Lightyear  ⚡️‏ @JpintoPedro Sep 30
        Replying to @dieguito @hugohanoi

        The BS is based on past history. He his known for his incorrect posts and bias information. He's nothing more than a sock puppet that repeats what others tell him to. He does not understand the blockchain nor anything relevant for this space. Yet he sells himself as some guru.

        0 replies 0 retweets 2 likes
      4. End of conversation
      1. Winter is Coming‏ @theantnest Sep 29
        Replying to @hugohanoi

        90% of his thoughts should stay in his head. He completely misses the point on most things he talks about. It's actually funny.

        0 replies 0 retweets 5 likes
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      1. Mr Hash‏ @hashamadeus Sep 29
        Replying to @hugohanoi

        He's just fluffing to pump his forthcoming ICO.

        0 replies 0 retweets 5 likes
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      1. Jorge Bailón M.  ⚡ #NoCSW‏ @baijorge Sep 30
        Replying to @hugohanoi

        "The professor"...pic.twitter.com/ujyLzrvg9e

        0 replies 0 retweets 1 like
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      1. Phuoc Do‏ @DoPhuoc Oct 4
        Replying to @hugohanoi

        Phuoc Do Retweeted Emin Gün Sirer

        @el33th4xor said both PoW and PoS are Sybil control mechanisms. You quoted it in the tweet right below. You either misread his words or mischaracterize his words.https://twitter.com/el33th4xor/status/1006931729679044608 …

        Phuoc Do added,

        Emin Gün SirerVerified account @el33th4xor
        Proof-of-Work and Proof-of-Stake are **sybil control mechanisms**. PoS doesn't achieve consensus by itself. It has to be coupled with a protocol, such as PBFT, or Ben-Or, or Tendermint/Cosmos, or Avalanche, to make decisions.
        Show this thread
        0 replies 0 retweets 0 likes
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      1. StorecoinDev‏ @StorecoinDev Oct 3
        Replying to @hugohanoi

        StorecoinDev Retweeted StorecoinDev

        https://twitter.com/StorecoinDev/status/1047502426209546240 …

        StorecoinDev added,

        StorecoinDev @StorecoinDev
        1/ Is PoW a mere Sybil control mechanism? This thread -- https://twitter.com/hugohanoi/status/1046097559993880584 … -- argues that PoW is more than just a Sybil control mechanism and we agree.
        Show this thread
        0 replies 0 retweets 0 likes
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