- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Official CryptoTalk Thread
Posted on 5/20/21 at 6:55 pm to 21JumpStreet
Posted on 5/20/21 at 6:55 pm to 21JumpStreet
quote:
I'm not sure if it was pos or pow but I briefly saw an article on something showing ethcheap I think? On how a 51% hack would work
Are you referring to the DAO exploit that was on Eth?
0
Posted on 5/20/21 at 7:22 pm to crazy4lsu
quote:There is no incentive yet to do so
Has that happened yet among any of the coins that use PoS?
Posted on 5/20/21 at 7:29 pm to TigerTatorTots
quote:
There is no incentive yet to do so
How so? There are PoS tokens associated with fully decentralized exchanges that produce rewards for validators that are based on both the stake of the validators and portions of the trading pairs themselves, with the accumulated volume worth millions. That seems like plenty of incentive, especially with smaller market-cap coins associated with relatively low-volume exchanges.
Again, which coins have been manipulated in the way originally suggested?
Posted on 5/20/21 at 7:35 pm to crazy4lsu
I moved a big chunk of my crypto portfolio into Cardano yesterday. (my $doge and $elon shitcoins are in Poloniex and my Ethereum is kinda stuck in my Metamask wallet until the update because of gas)
This post was edited on 5/20/21 at 7:36 pm
Posted on 5/20/21 at 7:41 pm to crazy4lsu
quote:
Has that happened yet among any of the coins that use PoS? I don't see PoW solving its scaling issues, which limit it significantly.
no, because there hasnt been an economic or political incentive to do so.
PoS is superior in other ways, I do agree with you but a Pow layer 2 can also accomplish the same scaling mechanisms as Pos layer 1; for example, in terms of transactions bitcoins lightning network can handle payments cheaply and instantly and scales to a billion transactions per second
LINK
This post was edited on 5/20/21 at 7:51 pm
Posted on 5/20/21 at 7:48 pm to Hulkklogan
those questions have been answered many times over
anyways, faster and "better" technology already exists in this space, and that is not why bitcoin is valuable
anyways, faster and "better" technology already exists in this space, and that is not why bitcoin is valuable
Posted on 5/20/21 at 7:51 pm to rocket31
Yeah it’s interesting to me to hear the “faster cheaper” meme when that shite already exists in this space in spades and still no one cares
Posted on 5/20/21 at 7:52 pm to rocket31
Bringo
Posted on 5/20/21 at 7:54 pm to rocket31
quote:
no, because there hasnt been an economic or political incentive to do so.
I have to disagree there. Looking at PoS coins, and their associated exchanges, there seems to be plenty of incentive.
quote:
PoS is superior in other ways, I do agree with you but a Pow layer 2 can also accomplish the same scaling mechanisms as Pos layer 1; for example, in terms of transactions bitcoins lightning network can handle payments cheaply and instantly and scales to billion transactions per second
They can, but the solutions on offer from Solana and Cosmos in particular seem to be more popular at the moment, at least from the developmental side. Cosmos in particular has provided a framework for modularity that is the closest we have currently to cross-chain interoperability without the need to wrap tokens, at least in a decentralized setting. It's the ecosystem built around each blockchain solution that make the these alternatives viable, and is a large reason why Eth is moving to the PoS mechanism, as the "web 3.0" ecosystem of apps across multiple chains have produced a viable model through which these coins actually approach currency. The decentralized ecosystem allows users to interact with markets from every end of the transaction, multiplying the opportunities to make money. That in itself drives viability arguments of supposed altcoins, which now are usable in a way that we couldn't conceive when BTC was originally introduced.
The ecosystem of PoW tokens are limited mostly to centralized exchanges, and don't have the same character of usability. What strikes me most about the DeFi world is how much more fun it is to participate in, as the staking model provides users a different type of experience distinct from the older PoW coins.
Posted on 5/20/21 at 7:56 pm to Tiguar
quote:
Yeah it’s interesting to me to hear the “faster cheaper” meme when that shite already exists in this space in spades and still no one cares
yeah theres a point where youre just like, "how fast do you need your transactions to be bro?
venmo is also fast and free soooo
Posted on 5/20/21 at 7:58 pm to rocket31
At some point you have to ask yourself if btc being “slow and expensive” is a feature and not a bug.
Posted on 5/20/21 at 8:01 pm to rocket31
I agree, which is why I brought point 3. I think btc will always have value, similar to how good has continued to have value, but probably won't be the primary market coin in the future.
Posted on 5/20/21 at 8:01 pm to Hulkklogan
quote:
1) BTC network is very secure currently. I'm not conviced it'll be as secure once issuance stops (though that doesn't mean it won't be secure enough), but I'll defer to BTC experts/bulls that can explain how mining will continue to be lucrative post 21M BTC. Admittedly, this is probably a quick Google search but I haven't done that yet.
You’ll always have transaction fees
quote:
2) BTC mining will continually become more and more centralized as rewards become harder and harder to mine.
As the block rewards go to zero, it is entirely possible that big players leave the space to an extent that lowers the hash difficulty and moves us towards a path of further base layer decentralization.
quote:
2A) Will it be more centralized that PoS? Remains to be seen. I know that the ETH team plans to lower the amount of ETH required to stake/validate as time goes on, but if ETH price continues to rise that may not mean a whole lot.
I kinda doubt it. PoS seems way more susceptible to long term centralization to me.
quote:
3) BTC will pretty much always have a place as a SOV for it's intrensic, immutable properties. There's a reason it's compared to digital gold. But, thinking in decades, programmable and faster networks will dominate the space IMO.
Feel like the Lightning network already sort of addresses this concern
Posted on 5/20/21 at 8:02 pm to crazy4lsu
quote:
They can, but the solutions on offer from Solana and Cosmos in particular seem to be more popular at the moment, at least from the developmental side. Cosmos in particular has provided a framework for modularity that is the closest we have currently to cross-chain interoperability without the need to wrap tokens, at least in a decentralized setting. It's the ecosystem built around each blockchain solution that make the these alternatives viable, and is a large reason why Eth is moving to the PoS mechanism, as the "web 3.0" ecosystem of apps across multiple chains have produced a viable model through which these coins actually approach currency. The decentralized ecosystem allows users to interact with markets from every end of the transaction, multiplying the opportunities to make money. That in itself drives viability arguments of supposed altcoins, which now are usable in a way that we couldn't conceive when BTC was originally introduced.
The ecosystem of PoW tokens are limited mostly to centralized exchanges, and don't have the same character of usability. What strikes me most about the DeFi world is how much more fun it is to participate in, as the staking model provides users a different type of experience distinct from the older PoW coins
i do agree with all of this and there is something to be said for something being user-friendly and fun. i love defi and i use it daily. im just unsure its true long term value
that is why i think if Bitcoin gets to be a global SoV, then we can bring in a lot more money into this space and everyone wins.
if Bitcoin gets replaced by "something else" then everyone will be like, "wait a minute, when will ETH get replaced? when will ADA get replaced, when will Cosmos get replaced" and i think crypto loses the trust that we are struggling to win on a macro scale
Posted on 5/20/21 at 8:03 pm to crazy4lsu
quote:Why TF would the Nigerian central bank want to print more of their dollars to take over some XYZCumrocketMoonCoin? There is no current political incentive. A decade from now when various blockchains dominate society, the incentive may strong.
I have to disagree there. Looking at PoS coins, and their associated exchanges, there seems to be plenty of incentive.
Posted on 5/20/21 at 8:13 pm to Ross
quote:
As the block rewards go to zero, it is entirely possible that big players leave the space to an extent that lowers the hash difficulty and moves us towards a path of further base layer decentralization.
That is an interesting thought that hadn't occurred to me.
Thanks. I clearly need to dig on long-term btc more.
ETA
I try to keep in mind that I've only been at this for a few months and, even though I've really immersed myself in podcasts, discords, telegrams, YouTube channels, learning Solidity, etc etc. That I'm still a total noob and am very likely to be wrong about a great many things
This post was edited on 5/20/21 at 8:35 pm
Posted on 5/20/21 at 8:21 pm to rocket31
My argument certainly isn't that there is a replacement for BTC on offer, not as a store of value at least. Nor do I think BTC will move to a PoS model.
My arguments are namely to do with two things, security and viability. In terms of security, the PoS model implements a similar BFT solution as PoW, and those solutions both seem robust at the moment, though PoW is obviously more well-regarded. The viability for big PoS projects seems self-sustaining, as they were paired with larger software applications designed specifically to be employed on those blockchains, giving those coins a purpose through their use in Web 3.0 apps. That gives certain coins a fairly long shelf-life in terms of viability.
My arguments are namely to do with two things, security and viability. In terms of security, the PoS model implements a similar BFT solution as PoW, and those solutions both seem robust at the moment, though PoW is obviously more well-regarded. The viability for big PoS projects seems self-sustaining, as they were paired with larger software applications designed specifically to be employed on those blockchains, giving those coins a purpose through their use in Web 3.0 apps. That gives certain coins a fairly long shelf-life in terms of viability.
Posted on 5/20/21 at 8:23 pm to TigerTatorTots
blockfi looks to be releasing an update on their bitcoin rewards credit card next week. im thinking this could become a big deal
i could see them expanding into ETH, LINK, LTC rewards cards next.
i could see them expanding into ETH, LINK, LTC rewards cards next.
This post was edited on 5/20/21 at 8:25 pm
Posted on 5/20/21 at 8:32 pm to TigerTatorTots
quote:
Why TF would the Nigerian central bank want to print more of their dollars to take over some XYZCumrocketMoonCoin?
There's plenty of incentive already in the situation you just described, as the realistic effects of a government giving legitimacy to the crypto world would most probably see that coin shoot up in value. But owning the coin is different from running a node, none of which is outside of the ability of governments, or any bad actor, to do if they wanted to. But that's what a PoS system does, as the validation of transactions is spread over several nodes, with users staking their coins on one of several nodes, each of which has different fees and rewards associated with it. It isn't necessarily the straight-forward process you are describing. Any such system, both PoW and PoS, requires honesty on the part of the participants. In the original BTC whitepaper, Nakamoto says as much. Each PoS coin has some way of dealing with bad actors too, or dealing with a specific validator having too much influence.
Posted on 5/20/21 at 9:01 pm to rocket31
quote:Id be interested in seeing all the details. The Fold card has treated me very well so far. 1.5 million sats stacked at an average of 3.9% back.
blockfi looks to be releasing an update on their bitcoin rewards credit card next week. im thinking this could become a big deal
Page 1541 of 2241
Popular
Back to top
Follow TigerDroppings for LSU Football News