Quote:
Originally Posted by onemoretimes
It's called POS and that's what ethereum is doing. But I know you don't like none of dat.
No, POS is a joke, and Ethereum is not going to do it, even though they keep thinking they will.
Quote:
Originally Posted by onemoretimes
Also, weren't you against the whole Vitalik being god and making a decision to rollback the DAO?
How is that much different then deciding you want to change how the whole system works because a guy finds a loophole and takes advantage of it?
Of course I am against that. How does this relate? I want something but I cannot do it alone. I also am not stealing funds.
This was not finding a loophole either, this was using a state actor to protect a 20% advantage that leads to a mining monopoly, something that destroys the incentive structure, as well as blocks many protocol upgrades.
Quote:
Originally Posted by bucktotal
I don't think there's a good answer for a PoW change. I'm not an expert on it, but I've heard of various experts suggest things. I've also talked to Bram Cohen about proof of space and time, and that could be the most promising yet. I'm not sure how well it would work out nor do I have a full understanding of it, but anything that commoditizes mining and makes it actually decentralized is better. At this point, nearly any change would be better simply due to the massive vulnerability we have.
It's amazing Bitmain can keep admitting to these things, and people still defend them. They did a great job on the PR spin this time. They admitted they ****ed up and tried to make up a story about a potentially honest use case. It's good enough to fool most people. However, if that was the case, it doesn't add up at all. If their goal was to allow users to shut down hijacked machines, they could have designed it much better. At the very best case, it shows gross incompetence in design. It leads to a massive security hole where many actors can shutdown miners without permission.
We are fortunately seeing who are the shills or attackers or alt-coin pumpers, and who are legit users. The community should be able to eventually move forward.