casi (u/casi) - Readit News

casi commented on The Problem with Ethereum tomerstrolight.medium.com... · Posted by u/myth_buster

Is there any network where the inflationary half-life of the currency is something like a week? I've been looking for something like that since I heard that Bitcoin was deflationary.

(I was excited about Eth until I learnt its currency had persistent value...)

casi · 5 years ago

CirclesUBI and proof of humanity UBI

Both basic income projects. Proof of humanity ubi tokens are more easily tradeable and meant to provide Sybil resistance to eth projects, but circles has a nice self contained design which is probably more interesting as a form of basic income/ community currency.

casi commented on Ethereum just activated its ‘London’ hard fork cnbc.com/2021/08/05/ether... · Posted by u/alexrustic

jlokier · 5 years ago

Just a reminder that smaller guys don't have 32 ETH to spare. That's $88,603 USD. Not much for the levels.fyi crowd, but a fortune to most people.

Which means, whether you can stake is very dependent on your personal situation - especially geography - much like whether you can profitably mine.

Of course staking is still better than mining for many reasons. But it's a somewhat rich person's game.

casi · 5 years ago

You can join a staking pool with as little as you have. Just like joining a mining pool with your laptop.

And you can get eth with gasless minting of nfts. Draw a picture and sell it. Don’t have to spend any money.

I much prefer this to burning up electricity which basically hands the network to energy suppliers and asic manufacturers.

casi commented on Using Benford’s Law to Detect Bitcoin Manipulation statmodeling.stat.columbi... · Posted by u/luu

louwrentius · 5 years ago

Frankly, I can’t judge the merits of this article because I lack the knowledge required.

But I think at this point we know that all cryptocurrencies are ‘greater fool’ “investments”. [1]

They are in every way totally irrelevant and detrimental to society. Governments are unfortunately slow to crack down on the exchanges, although progress is being made.

And that effort is essential to battle the cancer that is the ransomware epidemic.

Anyone who follows the Lock Picking Lawyer on YouTube knows that with time, resources and dedication virtually all locks can be defeated and cryptocurrencies make ‘expensive’ attacks worthwhile on IT infrastructure.

Frankly it hurts to see how cryptocurrencies have been ‘legitimized’ by HN & ycombinator’s coinbase. Because so many people will be hurt.

[1]: https://twitter.com/smdiehl/status/1384055017003311106?lang=...

casi · 5 years ago

I equally find it strange that people continue to come to hackernews- the Silicon Valley VC startup land - and can’t grasp that the infrastructure for programmable money might have some value. And write off p2p communication and coordination tools as zero-sum/ fraudulent games. And then wish for the government to ban other people’s jobs and hobby’s and communities because they don’t like it.

Blows my mind that people might spend their day coding, and night playing mmorpgs, and still not understand crypto. I guess we need better UX and storytellers.

casi commented on I am often asked if I will “return to cryptocurrency” twitter.com/ummjackson/st... · Posted by u/null_object

jazzyjackson · 5 years ago

Because the left wing position is that a democratically elected government should be deciding how money is distributed, while the right thinks government should be stripped of this power. Think of blockchain as the privatization of money supply.

casi · 5 years ago

Can’t really talk beyond Europe viewpoint, so might be different elsewhere, but here in the UK the left often talks of removing Westminster central control and empowering smaller local politics. I’m left wing/labour/union/coop worker and work in crypto, same with my colleagues. I really disagree with the projection that it is right wing ultracapitalist. It’s one of the best tools I’ve seen for cooperatives and community organisations

casi commented on I am often asked if I will “return to cryptocurrency” twitter.com/ummjackson/st... · Posted by u/null_object

casi · 5 years ago

I guess there creator of dogecoin always saw it as a joke, so this isn’t surprising.

Cryptocurrency is about choice and voice. Coordination and communication tools. There are American right wingers with their tokens and systems they’ve designed. But there is also things like CirclesUBI which is much more socialist and gaining momentum in the Berlin indie art scene.

Of course if you aren’t engaging with the space you just see speculation and hear about hacks and crime and people who became millionaires. what you will hear about is what Silicon Valley vcs pour millions of dollars into things they want you hearing about.

But actually engaging with devs in the space and the different subcultures you can find people you get along with. You can find communities and daos doing things you are interested in and share your political alignment. Most people I know working in the space have European left wing leanings.

Also a reminder. You don’t have to spend any money to be involved. Write code, join chat rooms, work on things you enjoy and want to make. That is going to obviously be much more rewarding than gambling on the back of VCs bags.

casi commented on Starlink dishes go into “thermal shutdown” once they hit 122° Fahrenheit arstechnica.com/informati... · Posted by u/lakis

kortex · 5 years ago

Many of these folks are used to internet going out because the wind is blowing too hard, or it's raining, or snowing, or a cow is stepping on the fiber link.

https://www.datacenterdynamics.com/en/news/how-cows-caused-s...

casi · 5 years ago

People are always surprised when I describe how bad the internet connection I have is here in the UK. 3meg down 0.2 up. If it rains or is too windy the connection dies. I’ve spoke to bt and openreach hundreds of times but it never gets any better. I’m the last house on the end of a copper line and there is no interest in fixing it. Four years ago the village was supposed to get fibre, recently “delayed” again. I rely on the 3G signal, which isn’t much better tbh.

My Starlink arrives next week :) I’m so exited to be able to finally download some photos I put on google drive a couple of years ago.

casi commented on Solana Labs completes a $314M private token sale led by Andreessen Horowitz solana.com/news/solana-la... · Posted by u/nikita

keymone · 5 years ago

Nothing is slashed if attacker doesn’t publish the alternative chain until they have successful attack.

PoS is absolutely driven by rich and helps rich get richer faster than everybody else. If I get 10% stake - I get 10% of any future issuance, meaning my stake can never go below 10%, so my power in the system never dilutes even though I literally don’t have to do anything anymore. Miners in PoW have to participate in mining and their power can get diluted by anyone by simply getting more hardware online.

PoS doesn’t work.

casi · 5 years ago

That isn’t how it works.

There isn’t a cap on validators so you can’t buy up a fixed percentage of the network. More people can always join. You will be diluted over time unless you choose to reinvest(same as mining).

As we reduce the hardware costs and energy usage costs it becomes easier to participate in the network (especially via pools, same as mining but much much cheaper).

Being able to run a validator on a solar powered raspberry pi is a great improvement to making participation in the network accessible. We should see the exact opposite of what you suggest, anyone who wants to participate not having energy or hardware restrictions should make it less Matthew-effect-like.

PoS increases both the cost of a direct attack on the network as reorganised/51s are more expensive to perform with slashing mechanisms in place, and also removes the threats of supply line disruption by either nation states or cartels forming to control the flow of the hardware.

PoS is great.

casi commented on Daily Mail owner sues Google over search results bbc.co.uk/news/business-5... · Posted by u/fredoralive

cung · 5 years ago

I feel like I am going crazy that this fact is not discussed at all.

I recall google from a decade ago being able to answer all my questions, where as now all I get is mediocre, politically-safe, canned answers with a ridiculous amount of ads.

It is enough to look at recipe websites to see that Daily Mail’s claim is clearly true. Recipe sites providing a user hostile ad-filled experience gain the top place, where as simple recipes without stories and tons of ads are nowhere to be found.

Why would Google do anything else? Website owners are paying Google to be ranked higher by essentially buying ads from Google. The difference between the ppc of a competitor and Google is the price the website owners pay. In return, Google will rank the website higher.

casi · 5 years ago

I agree, it seems like results are getting worse, a few years back I could ask a question and get an answer. Now I don't even bother and go straight to sites to search, be it wikipedia/ github/ stackoverflow/ ebay. Googling for it is just a waste of time.

casi commented on Ethereum: A Store of Value with Cash Flow [pdf] ethereumcashflow.com/... · Posted by u/spir

needle0 · 5 years ago

Maybe so, but that still doesn't change that PoS on Ethereum itself has been "coming soon" forever. Until the switch actually happens in full, it's still a power-guzzling PoW chain.

casi · 5 years ago

Youll be happy to hear there is a hackthon going on right now testing out the move onto PoS.

https://rayonism.io/

casi commented on Ethereum: A Store of Value with Cash Flow [pdf] ethereumcashflow.com/... · Posted by u/spir

qertoip · 5 years ago

Ethereum is easy to change (hard forks often) and so cannot be expected to preserve any key characteristics like emission curve or even the permissionless nature.

In fact, Ethereum's monetary policy did change in the past.

casi · 5 years ago

The policy has always been “minimal viable issuance”