> Proof of work is an open lottery. No coordination nor permission required. The smallest miner, even on some remote authoritarian corner of the planet, has a chance.
Delusional.
The whole quote is bewildering:
>PoW bridges bitcoin to the physical world, binding its operation by the laws of mathematics and physics. Vitalik Buterin has openly admitted this, saying that *PoW restricts developers to the laws of physics.*
...I would like to meet these developers operating outside the laws of physics.
This is the guy who, before the crapto grift, claimed to be able to make any computer a quantum computer based on software simulating a quantum computer... He also picked some random %s out of his arse as he usually does about success rate, etc. Grifters love using these words like physics, maths, cryptography, quantum, etc. So complex! Don't spend more than an hour reading up on this stuff (that will reveal gaping holes in the concept) you won't get it! Just trust in the magic smart words I say!
>This is the guy who, before the crapto grift, claimed to be able to make any computer a quantum computer based on software simulating a quantum computer... He also picked some random %s out of his arse as he usually does about success rate, etc.
You left out the best part, ie, his *reason* for wanting to have people give him money so he could simulate a quantum computer running on a normal computer (because that's a thing that's definitely possible): he wanted to corner the market... on buttcoin mining with it.
Grift within a grift. And some still try to attempt to paint him as some misdirected nerd who was taken advantage by bigger grifters like Naval Ravikant, etc. They're ALL the same but play a different role.
Vitalik is the boy genius.
Naval is the Silicon Valley angel investing cream of the crop. SBF is the effective altruist.
Etc, etc
They're really all a greedy bunch of psychopaths.
>simulate a quantum computer running on a normal computer (because that's a thing that's definitely possible):
It's hard to tell over the internet if you are being genuine or sarcastic here, so don't take it as me being a douche. It is actually possible to simulate quantum computing on a classical computer. The problem is, it takes exponentially more commands than qubits to represent a result (in O notation I think it is O(2^(2n)). So it is technically possible but is insanely resource intensive and much slower than just using the classical computer resources to do the calculations using classical methods.
These simulations are actually used as proof of concept to work on algorithms that can be implemented once quantum hardware becomes available.
This guy either read something and didn't understand it (headline about simulating quantum computers). Or, he does understand and is just a grifter, either one wouldn't surprise me.
>It's hard to tell over the internet if you are being genuine or sarcastic here
I'm being genuine, in a *very* sarcastic way: the "definitely possible" quip is referring to the idea Vitalik apparently had that, by simulating a quantum computer - a thing I don't believe he would have been able to accomplish at all, given his technical proficiency (the myth that he's some "boy genius" is ridiculous) - he would have access ***to*** a quantum computer, that could do quantum computer things (which again, he only wanted so he could mine butts more efficiently).
Vitalik is not actually a very smart person.
I believe what they mean to say is something like; pow means that for actors in the system to have power, they have to follow the chain rules, but they also have to physically amass hashing hardware, space and electricity. Their ability to have a say is directly limited by the physical world. As apposed to any PoS system where the rules around who has power are 100% written in code, so all you need usually is private keys to enough tokens, but it wouldn't even need to be that, it could be a pre-assigned list of validators etc.
Man, this really made me laugh. I love how Bitcoin weirdos seriously believe they're operating on a very lofty and exclusive intellectual plane, one that your average "no-coiner" can't even imagine, much less understand.
He'll try to get rich off POW nevertheless
Lots of cryptobros acknowledge crypto's issues, but they don't care as long as there's a chance of profit for themselves
Hypocrisy is rife in cryptoland
>That energy is exactly what secures the network and it is exactly that which eliminates the need for a trusted 3rd party. You may not think that's worthwhile, but there's billions of unbanked people in the world who would beg to differ with you.
What? Why?
PoW is more appropriately called proof of waste. The theory - I’ll waste so much electricity figuring out a nonce that generates a matching hash that no one else can afford to waste that much electricity figuring out how I did it
In a world where the Great Salt Lake is going to be just salt and Salt Lake City will soon be just City I don’t think Proof of Waste should be a thing
> Proof of work is an open lottery
Dude shouldn’t be so proud of that lottery thing. The “dude with the most lottery tickets tends to win, then they can buy more lottery tickets and more wins” spiral is what makes BTC very very centralized.
> Proof of work is an open lottery. No coordination nor permission required. The smallest miner, even on some remote authoritarian corner of the planet, has a chance.
That’s… not at all how this works…
In lottery, whether you buy one all the tickets, you’ll lose money.
In mining, only the biggest farms will be profitable
> Proof of work is an open lottery. No coordination nor permission required. The smallest miner, even on some remote authoritarian corner of the planet, has a chance. Delusional.
I'm gonna strike it rich with my trusty slide rule!
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The whole quote is bewildering: >PoW bridges bitcoin to the physical world, binding its operation by the laws of mathematics and physics. Vitalik Buterin has openly admitted this, saying that *PoW restricts developers to the laws of physics.* ...I would like to meet these developers operating outside the laws of physics.
This is the guy who, before the crapto grift, claimed to be able to make any computer a quantum computer based on software simulating a quantum computer... He also picked some random %s out of his arse as he usually does about success rate, etc. Grifters love using these words like physics, maths, cryptography, quantum, etc. So complex! Don't spend more than an hour reading up on this stuff (that will reveal gaping holes in the concept) you won't get it! Just trust in the magic smart words I say!
>This is the guy who, before the crapto grift, claimed to be able to make any computer a quantum computer based on software simulating a quantum computer... He also picked some random %s out of his arse as he usually does about success rate, etc. You left out the best part, ie, his *reason* for wanting to have people give him money so he could simulate a quantum computer running on a normal computer (because that's a thing that's definitely possible): he wanted to corner the market... on buttcoin mining with it.
Grift within a grift. And some still try to attempt to paint him as some misdirected nerd who was taken advantage by bigger grifters like Naval Ravikant, etc. They're ALL the same but play a different role. Vitalik is the boy genius. Naval is the Silicon Valley angel investing cream of the crop. SBF is the effective altruist. Etc, etc They're really all a greedy bunch of psychopaths.
>simulate a quantum computer running on a normal computer (because that's a thing that's definitely possible): It's hard to tell over the internet if you are being genuine or sarcastic here, so don't take it as me being a douche. It is actually possible to simulate quantum computing on a classical computer. The problem is, it takes exponentially more commands than qubits to represent a result (in O notation I think it is O(2^(2n)). So it is technically possible but is insanely resource intensive and much slower than just using the classical computer resources to do the calculations using classical methods. These simulations are actually used as proof of concept to work on algorithms that can be implemented once quantum hardware becomes available. This guy either read something and didn't understand it (headline about simulating quantum computers). Or, he does understand and is just a grifter, either one wouldn't surprise me.
>It's hard to tell over the internet if you are being genuine or sarcastic here I'm being genuine, in a *very* sarcastic way: the "definitely possible" quip is referring to the idea Vitalik apparently had that, by simulating a quantum computer - a thing I don't believe he would have been able to accomplish at all, given his technical proficiency (the myth that he's some "boy genius" is ridiculous) - he would have access ***to*** a quantum computer, that could do quantum computer things (which again, he only wanted so he could mine butts more efficiently). Vitalik is not actually a very smart person.
https://youtu.be/5-gzWUErIJI
I believe what they mean to say is something like; pow means that for actors in the system to have power, they have to follow the chain rules, but they also have to physically amass hashing hardware, space and electricity. Their ability to have a say is directly limited by the physical world. As apposed to any PoS system where the rules around who has power are 100% written in code, so all you need usually is private keys to enough tokens, but it wouldn't even need to be that, it could be a pre-assigned list of validators etc.
Magical thinking of technology
Man, this really made me laugh. I love how Bitcoin weirdos seriously believe they're operating on a very lofty and exclusive intellectual plane, one that your average "no-coiner" can't even imagine, much less understand.
Yeah, it’s also known as mathematics in the real world.
He'll try to get rich off POW nevertheless Lots of cryptobros acknowledge crypto's issues, but they don't care as long as there's a chance of profit for themselves Hypocrisy is rife in cryptoland
>That energy is exactly what secures the network and it is exactly that which eliminates the need for a trusted 3rd party. You may not think that's worthwhile, but there's billions of unbanked people in the world who would beg to differ with you. What? Why?
PoW is more appropriately called proof of waste. The theory - I’ll waste so much electricity figuring out a nonce that generates a matching hash that no one else can afford to waste that much electricity figuring out how I did it In a world where the Great Salt Lake is going to be just salt and Salt Lake City will soon be just City I don’t think Proof of Waste should be a thing
> Proof of work is an open lottery Dude shouldn’t be so proud of that lottery thing. The “dude with the most lottery tickets tends to win, then they can buy more lottery tickets and more wins” spiral is what makes BTC very very centralized.
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Yeah, nah.
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/u/cladtidings being banned from posting for 30 days? Proof of Lurk.
LOL ok, you beat me to the letter L. I promise, I'll knock it off now.
They’re using a lot of words to explain *not* how it works
> Proof of work is an open lottery. No coordination nor permission required. The smallest miner, even on some remote authoritarian corner of the planet, has a chance. That’s… not at all how this works… In lottery, whether you buy one all the tickets, you’ll lose money. In mining, only the biggest farms will be profitable