2/ That’s why reasoning from first principles (bottom-up reasoning) is superior to analogies, when it comes to understanding things.
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13/ No matter how many layers of obscurity & bullshit you sprinkle on top, PoS can never overcome this fatal weakness.
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14/ IMO the mistake PoS researchers often make, is to look at Bitcoin as a purely distributed system problem. But Bitcoin is more than that.
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15/ Bitcoin is a distributed system *with physical properties*. You can emulate the distributed components (leader election, randomness, hashing, etc.), but you can’t cheaply emulate physical properties.
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16/ Looking at Bitcoin purely through the lens of distributed system research is like a caveman seeing a stethoscope for the first time & conclude it’s useless for fixing people. Or a medieval man seeing a radio & think it’s a worthless piece of brick.
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17/ The old mental models are usually insufficient to fully understand the significance of new technology.
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18/ It’s kinda sad to see so much time & effort being spent on these PoS systems, that are to me an obvious dead-end. So much ado about nothing.
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Why is it so important for a temporarily detached member to be treated any differently than a new member? New members always have to figure out which is the canonical chain.
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Trust minimization. A PoW node requires trust only when bootstrapping, after that point it's on autopilot. A PoS node continually requires trust, no matter how long it has been running. Also see this threadhttps://twitter.com/hugohanoi/status/952712190808608768 …
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Thank you for sharing your insights. I appreciate the respectful debate :)
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