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Comment Re:So much for non-fiat currency... (Score 0, Troll) 185

You are missing the point, this reasoning could apply to Gold as well.

This is the same as explaining that you can replace Gold with everything you will find in the 100+ elements of the periodic table. Realistically, the only property that matters with Gold, the scarcity, is impossible to copy.

People are missing that the decentralization is not a software property; This means, in this specific case, you can't copy the decentralization as well.

Comment Re:Slashdot's Hate for Cryptos is Palpable. (Score 1) 195

The word 'Crypto' is associated with 99.99% of scams and Ethereum is the most infamous one. 'Crypto' as a word is a way mix one legit project with an infinity of frauds.

This is what affinity scamming looks like in "crypto". The goal is to look enough like bitcoin to trick investors and regulators, and build coalitions with other scam projects to look reputable to the casual observer. Affinity scams are the poison...

Comment Re:Crackdown due to Colonial hack? (Score 2) 15

Proof-of-stake is an interesting topic. The incentives for all the participants is to compute the most advantageous chain for themselves, because it costs nothing to do so.

At this stage, real world implementations rely on a node that is more equal than the others to generate the valid state. Anyway, these projects are managed by real con-artists. This is not a problem for them to sell the product for something that is impossible to achieve.

Comment Say goodbye forever to PoS = Plutocracy (Score 3, Informative) 71

You should read the theoretical papers on PoS, for instance: https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Fdownload.wpsoftware.ne...

PoS suffers from the nothing at stake problem. In other words, computing a new state from scratch costs nothing. Participants are incentivized to compute the state that is the most advantageous.

Real world implementations handle this issue with a node more equal than the others.

In other words PoS is not an innovation, PoS is the software implementation of Plutocracy!

Comment Re:What? (Score 2) 50

You could change it, but you should have good relations with the Ethereum database administrators.
 

#1. It is not immutable and can be censored. The developers can roll back transactions and change the rules whenever they want. They can also be pressured by others – such as governments.

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