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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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    1. Stephan Livera‏ @stephanlivera Oct 12

      "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 …

      5 replies 41 retweets 97 likes
    2. Viktor Arvidsson  🕊‏ @anotherday____ Oct 12
      Replying to @stephanlivera @NickSzabo4 @hugohanoi

      Many holes. Conclusions do not follow wishful thinking. For example, I could steal the key to a miner, applying the same logic PoW breaks. The idea that reduction of cost in PoS is equal to reduction in safety is unsubstantited and so absurd it would be a miracle if it held true.pic.twitter.com/mol3L5nZJe

      1 reply 0 retweets 2 likes
    3. Hugo Nguyen‏ @hugohanoi Oct 12
      Replying to @anotherday____ @stephanlivera @NickSzabo4

      Nope, read again. Risks not comparable. Majority control in PoW: requires seizure of physical assets, after taking control still costly to rewrite history/double-spend. Majority control in PoS: requires hacking software nodes, after taking control, unlimited power at no cost.pic.twitter.com/T1j2TfkFWb

      1 reply 0 retweets 2 likes
    4. Viktor Arvidsson  🕊‏ @anotherday____ Oct 12
      Replying to @hugohanoi @stephanlivera @NickSzabo4

      Yes. That falls under wishful thinking. It also runs counter to your own logic economically, especially considering the nature of already distributed technology. Seizure is also not a requirement for asset control. Point is there are ”off-chain” security issues on both ends.

      2 replies 0 retweets 2 likes
    5. Hugo Nguyen‏ @hugohanoi Oct 12
      Replying to @anotherday____ @stephanlivera @NickSzabo4

      Miners who delegate block construction to centralized pools do reduce network security. However shady behaviors in pools are easily detected & miners have a fallback: switch pools or disconnect their physical hardware. No fallback for PoS nodes whose keys have been hacked.

      1 reply 0 retweets 2 likes
    6. Hugo Nguyen‏ @hugohanoi Oct 12
      Replying to @hugohanoi @anotherday____ and

      I see you conveniently ignore my point about the difference in cost *after* taking majority control :-)

      1 reply 0 retweets 1 like
    7. Viktor Arvidsson  🕊‏ @anotherday____ Oct 12
      Replying to @hugohanoi @stephanlivera @NickSzabo4

      If we are to be rude I could just point out that geographically decentralized is a nonsense term—you mean distributed—and that dispersion is ineffective given the game of scale + energy use signals location. But no—I am not conveniently anything. I gave you time. Remove your ego.

      2 replies 0 retweets 0 likes
    8. Hugo Nguyen‏ @hugohanoi Oct 12
      Replying to @anotherday____ @stephanlivera @NickSzabo4

      lol why do you bring up ego I’m addressing your _argument_😆- 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.

      2 replies 0 retweets 1 like
      Hugo Nguyen‏ @hugohanoi Oct 12
      Replying to @hugohanoi @anotherday____ and

      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. 🤷🏼‍♂️

      7:05 PM - 12 Oct 2018
      • 1 Like
      • jeet🐊
      0 replies 0 retweets 1 like

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