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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. Hugo Nguyen‏ @hugohanoi Jan 12

      31/ PoS weaker security is also evidenced by its need to require a lot more “social consensus” (which is just a fancy word for manual human intervention) than PoW.

      5 replies 13 retweets 125 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Jan 12

      32/PoS plans to rely on “making it the user's responsibility to authenticate the latest state out of band. They can do this by asking their friends, block explorers, businesses that they interact with, etc. for a recent block hash in the chain that they see as the canonical one.”

      1 reply 4 retweets 43 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Jan 12

      33/ Vitalik’s beloved defense against this type of weakness is that PoW also require social consensus. Well, DUH. *All man-made systems require some degree of social consensus*, there is no exception.

      2 replies 5 retweets 57 likes
      Show this thread
    4. Hugo Nguyen‏ @hugohanoi Jan 12

      34/ The political system, the transportation system, the banking system, the dollar, Bitcoin, etc. All these systems require buy-in from humans collectively as a group, in order for them to work. Man-made systems would break down immediately without social consensus.

      2 replies 8 retweets 61 likes
      Show this thread
    5. Hugo Nguyen‏ @hugohanoi Jan 12

      35/ To argue that since PoW needs social consensus, it’s OK for PoS to need social consensus, is a downright stupid argument. What matters is not whether you need social consensus, but *how much*?

      1 reply 9 retweets 71 likes
      Show this thread
    6. Hugo Nguyen‏ @hugohanoi Jan 12

      36/ The less social consensus / human intervention a system needs, the stronger & more secure it is. The goal is to move as much as possible to *machine consensus*- to eliminate human biases & errors.

      3 replies 20 retweets 104 likes
      Show this thread
    7. Hugo Nguyen‏ @hugohanoi Jan 12

      37/ PoW makes machine-level consensus a trivial problem. When there is a fork, a machine just has to pick the one with the most accumulated PoW. Yes, Bitcoin still needs some social consensus to get the system up & running. But after that, it’s mostly on auto-pilot.

      1 reply 7 retweets 63 likes
      Show this thread
    8. Hugo Nguyen‏ @hugohanoi Jan 12

      38/ In contrast, in PoS you would continuously need social consensus in order to resolve forks. The reliance on social consensus is magnitudes bigger than PoW.

      3 replies 9 retweets 60 likes
      Show this thread
    9. Hugo Nguyen‏ @hugohanoi Jan 12

      39/ In conclusion, there is just no comparison between PoW & PoS. It’s like a NBA team vs a highschool team.

      6 replies 7 retweets 73 likes
      Show this thread
    10. Hugo Nguyen‏ @hugohanoi Jan 12

      40/ PoW is a system designed to withstand the worst, PoS involves obfuscated setups in order to hide its fatal weaknesses. One is a resilient platform for the future, the other is a toy.

      19 replies 18 retweets 129 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi Jan 13

      Hugo Nguyen Retweeted Hugo Nguyen

      41/https://twitter.com/hugohanoi/status/952254443365347328 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      Replying to @TuurDemeester
      Thanks Tuur. To add since so many people seem to be missing the point... “What about tech innovations? Cars vs horses? LED vs. lightbulb? Aren’t those examples of using less energy to achieve the same goal?” No because in those cases there are exploitable inefficiencies.
      11:17 AM - 13 Jan 2018
      • 7 Retweets
      • 41 Likes
      • ginnlogic !Bruce Wagner ZaBici Tuan Nguyen Sirbu Amethyst Purp Shunsuke Omura BTCbuddah joe beattie
      17 replies 7 retweets 41 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Jan 15

          Hugo Nguyen Retweeted Hugo Nguyen

          42/ Continued debate with Vitalikhttps://twitter.com/hugohanoi/status/952712190808608768 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ Ehhh, I addressed directly Casper’s handwaving attitude regarding “weak subjectivity” or the reliance on social consensus in my thread. @VitalikButerin believes this kind of weakness is trivial. But it’s not. https://twitter.com/VitalikButerin/status/952548219988226049 …
          Show this thread
          1 reply 1 retweet 5 likes
          Show this thread
        3. Hugo Nguyen‏ @hugohanoi Jan 27

          Hugo Nguyen Retweeted Hugo Nguyen

          43/https://twitter.com/hugohanoi/status/953346191152033792 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ Proof-of-stake cryptocurrencies cannot be trustless.
          Show this thread
          1 reply 0 retweets 1 like
          Show this thread
        4. Hugo Nguyen‏ @hugohanoi Jan 27

          Hugo Nguyen Retweeted Hugo Nguyen

          44/ A deep dive into PoW & extending the energy argumenthttps://twitter.com/hugohanoi/status/957091071745433601 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ The anatomy of Proof-of-Work
          Show this thread
          0 replies 1 retweet 5 likes
          Show this thread
        5. End of conversation
        1. New conversation
        2. tokeikun‏ @tokeikun Jan 14
          Replying to @hugohanoi

          Hi Hugo, This thread is really interesting and worth to read. May I translate this into Japanese?

          1 reply 0 retweets 0 likes
        3. Hugo Nguyen‏ @hugohanoi Jan 14
          Replying to @tokeikun

          Yup, please go ahead.

          1 reply 0 retweets 0 likes
        4. tokeikun‏ @tokeikun Jan 14
          Replying to @hugohanoi

          Thanks!

          0 replies 0 retweets 0 likes
        5. End of conversation
        1. PeepReader‏ @PeepReader Jan 13
          Replying to @hugohanoi

          Great thoughts! Worst use of tweeter! :)

          0 replies 0 retweets 1 like
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        1. BigGoose77‏ @BigGoose77 Jan 13
          Replying to @hugohanoi

          Hybrid PoW/PoS (ala Decred) is where the greatest network security lies. All the benefits of both worlds without any of the downsides.

          0 replies 0 retweets 1 like
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        1. DylB‏ @RomanDragQueen Jan 13
          Replying to @hugohanoi

          Both POS and POW require upfront cost.If you fail a POS attack you lose your coins. A failed POW attack does not burn down the mining farm.

          0 replies 0 retweets 1 like
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        1. Hari Gtt‏ @harigtt Jan 15
          Replying to @hugohanoi

          I think what you are missing is the viability of POW in a larger scale and long time

          0 replies 0 retweets 0 likes
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        1. Peter Opara‏ @oparex Jan 14
          Replying to @hugohanoi

          Guess you havn’t hard about quantum physics yet. Hawking radiation could explain PoS for example. Using natural sciences to explain social (trust) phenomenon can backfire

          0 replies 0 retweets 0 likes
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        1. CoTrader CEO‏ @Gary_Bernstein Jan 13
          Replying to @hugohanoi

          You place a lot of faith on your analogy But there are logical gaps all over it. According to it, no system can be more efficient than another. It’s like you’re trying to convince yourself to avoid cognitive dissonance. The lady doth protest too much, me thinks.

          0 replies 0 retweets 0 likes
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        1. Alberto M  🎓 🇻🇪 🐍 🏄‏ @Alberto_millan Jan 13
          Replying to @hugohanoi

          pic.twitter.com/XHkoi8iw6m

          0 replies 0 retweets 0 likes
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        1. ys‏ @testrc_test Jan 13
          Replying to @hugohanoi

          Great great post, thanks for this!

          0 replies 0 retweets 0 likes
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        1. hibachimachine‏ @hibachimachine Jan 13
          Replying to @hugohanoi

          WTF!

          0 replies 0 retweets 0 likes
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        1. u n l o‏ @heartytiger Jan 13
          Replying to @hugohanoi

          I'd summarize your tweetstorm as #Ethereum PoS will solely work because of @VitalikButerin and @VladZamfir and that sounds about right

          0 replies 0 retweets 0 likes
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        1. Jamie  🧛‍♂️ 🧛‍♀️ 👱🏼‍♀️ ⚡️‏ @mcnicollme Jan 13
          Replying to @hugohanoi

          You can indeed make something out of nothing ...https://www.newscientist.com/article/mg21328472-000-trying-to-make-the-cosmos-out-of-nothing/ …

          0 replies 0 retweets 0 likes
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        1. Britton‏ @bwinterrose Jan 13
          Replying to @hugohanoi

          Next tweet storm: POW vs POS infrastructure investment and network growth incentive. POW grows infrastructure like nobody’s business. Also: POW post-mining (likely scenarios) vs POS post-mining.

          0 replies 0 retweets 0 likes
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        1. Rick $COSS [Not Giving Away $TUBE]‏ @WolfOfCOSS Jan 13
          Replying to @hugohanoi

          Can you prove that the current PoW implementations have no exploitable inefficiencies, or are you just talking out of your ass? Kind of seems like the latter.

          0 replies 0 retweets 0 likes
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