"As PoS merely involves the temporary lockup of existing capital and does not consume said capital, it does not satisfy the unforgeable costliness requirement" - @hugohanoi
Excellent post!https://medium.com/@hugonguyen/work-is-timeless-stake-is-not-554c4450ce18 …
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-Because of your response. -Which 2nd point? -Not in the grand scheme —plus you are limiting the problem arbitrarily, it is not only a risk of seizure and it is not only state actors one must worry about.
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> Not in the grand scheme Can you elaborate? You still have not given any reasons to back up your argument that hardware dispersion is ineffective against the state.
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Can illustrate. Saudi Arabia just killed a journalist at their embassy. What was US response? Again the scope is false but question is then in which scenarios would state seize hardware (under what pretext). Some would lead countries to cooperate others would not. Lex Pirate Bay.
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(Never said dispersion is ineffective—i.e. censorship resistant—I am saying that dispersion logics contradict the scale logic on which your overarching claim is made. If we take dispersion as positive then something in your argument is absurd logically speaking).
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((Sorry irresistant—too many negations.))
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Obviously degree of decentralization matters, i.e., dispersion over 200 countries is better than 2. But you're missing the point. Point is PoW has this defensive option *at all*, due to physical HW on the ground. Disperse hardware is the last line of defense if pools are hacked.
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In comparison, PoS validators are merely software & required to have sensitive keys online to sign txs. Validators can be targeted from anywhere remotely. Once keys are stolen & majority control lost (btw the threshold for majority control in PoS is 1/3, not 1/2), you’re screwed.
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I used “geographically decentralized” to differentiate against other types of decentralization - as mining involves both software & hardware. If you prefer distributed, that’s good too. Don’t think semantics matters here.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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- and no you still have not addressed my 2nd point. Not sure what you mean by ineffective. Hard for Chinese govt to seize hardware in China AND Iceland. That’s what I mean by geographically decentralized.
