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Hi, notice that I'm not proactively bringing up any specific cryptocurrencies, let alone the same cryptocurrency over and over in the same thread. This is because I'm not a bagholder. I have no interest in talking to bagholders. The science and engineering details of cryptocurrency design and implementation are by definition beyond a bagholder's comprehension. The act of holding bags precludes formulating a dispassionate understanding of cryptocurrencies -- as Upton Sinclair put it, "It is difficult to get a man to understand something when his salary depends on his not understanding it." You see, if I was a bagholder, I would have a hard time comprehending why it's a terrible idea to fall back to the "community" trying to decide which fork is valid. If the community members had high enough trust in one another that they don't need the blockchain (specifically, a fork-ranking protocol) to come to a valid majoritarian decision on which fork is the right fork, then we really don't need the blockchain in the first place! The same sinews of trust can be used to decide what everyone's balance is at all times, since after all, the community members already trust one another to decide which transaction histories (out of many) is the true ledger. But thankfully, I'm not a bagholder, which means I can see that this assumption about the community is not viable. Also, if I was a bagholder, I would have a hard time comprehending why attackers don't just try and buy 51% of the stake. It would be difficult for me to understand that attackers are going to take the path of least-effort, which would be the act of knocking nodes offline and/or exploiting zero-days on nodes hosting staking coins in a bid to get the network to slash enough of the honest coins that quorum can no longer be met. But thankfully, I'm not a bagholder, which means I understand this weakness. In addition, if I was a bagholder, I would have a hard time understanding that PoW and PoS security in their "happy paths" is irrelevant. The resilience of blockchains is determined by their unhappy path behaviors. PoW requires less proactive trust and coordination between community members than PoS -- and thus is better able to recover from both liveness and safety failures -- precisely because it both (1) provides a computational method for ranking fork quality, and (2) allows anyone to participate in producing a fork at any time. If the canonical chain is 51%-attacked, and the attack eventually subsides, then the canonical chain can eventually be re-established in-band by honest miners simply continuing to work on the non-attacker chain. In PoS, block-producers have no such protocol -- such a protocol cannot exist because to the rest of the network, it looks like the honest nodes have been slashed for being dishonest. Any recovery procedure necessarily includes block-producers having to go around and convince people out-of-band that they were totally not dishonest, and were slashed due to a "hack" (and, since there's lots of money on the line, who knows if they're being honest about this?). But thankfully, I'm not a bagholder, so I understand the difference. It's great to know that you, too, are not a bagholder, and you're continuously bringing up Cardano solely because it's a motivating but misguided example, and has nothing to do with how many Cardano tokens you own. Otherwise, I'd have nothing to say to you at all, and if HN had the feature, I'd have simply blocked you already. |