Mining centralization is the biggest issue facing PoW, but make no mistake, PoW is the best we've got and was a real innovation- in terms of offering real benefits over traditional BFT systems. PoS, otoh, is *not* an innovation & has 10x worse problems. https://medium.com/@hugonguyen/proof-of-stake-the-wrong-engineering-mindset-15e641ab65a2 …https://twitter.com/TusharJain_/status/995742468086870016 …
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Hugo Nguyen Retweeted Hugo Nguyen
Related to my earlier tweet regarding estimated chance of failure: I attribute PoS coins a 100% chance of failing to work at scale or becoming centralized within the next 10 years.https://twitter.com/hugohanoi/status/995513014420828160 …
Hugo Nguyen added,
Hugo Nguyen @hugohanoi
Rough math:
Probability of Bitcoin imploding = P(B) = x
Prob of altcoin A imploding = P(A) = x + (1 - x) * P(A imploding by itself) = y
Prob of derivative token T built on A imploding = P(T) = y + (1 - y) * P(T imploding by itself)
Most P(A) close to 100% & P(T) even more so.
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2:11 PM - 13 May 2018
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