swensel

8 ms·

1.
by swensel 5y ago
I do think blockchain analysis will get more advanced over time and people who think they are anonymous now may have a rude awakening years down the line, but from what I can tell, you know crypto better than I do. IMO, if folks wants priva
2.
by swensel 5y ago
For me it is that I think the general public has no choice in the matter now, the banks and governments do. That is the difference I see.
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by swensel 5y ago
Analysis of the transactions could lead law enforcement to the attackers before they try to cash out. Centralized exchanges may also flag the attackers when they attempt to cash out. There is no guarantee they can cash out without getting
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by swensel 5y ago
Why Monero specifically though, with all the options in crypto available? If you want privacy there are also Zcash shielded transactions. Or if all you want to do is eliminate central parties then why not just Bitcoin? My understanding wit
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by swensel 5y ago
Blockchain forensics are already used for tracking transactions and these will get more advanced over time. I think saying "risk-free" is a big stretch. Yes, this is made possible with cryptocurrency, the transactions are irreve
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by swensel 5y ago
> You can drink openly at the beach. In CA at least, drinking at most beaches is not legal: https://beachlifeexpert.com/beaches/alcohol-guide-california...
7.
by swensel 5y ago
Speaking of jobs, at least in America, smiling is helpful even getting the job in the first place.
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by swensel 5y ago
I don't like having to be on call 24/7 either and would prefer to work on a team that has 24/7 ops, so the devs don't have to do that. However, in the case of a startup where the devs also do ops, what is the option? I
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by swensel 5y ago
I'm aware of the ETC attacks. I don't think ETC can really be compared to BTC though. The ETC network is composed of the idealistic (or maybe stubborn) folks who didn't want to switch over to the new ETH chain after the DAO h
10.
by swensel 5y ago
My understanding is those who have more coins on a PoS network have more stake / power. This can matter if there are things like on-chain governance / voting rights, depending on their stake. Those with more stake would also get m
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by swensel 5y ago
Yes, I'd be curious what some PoS coin experts have to say about the centralization concern of PoS, and how network security and uptime is guaranteed in a PoS network that doesn't have slashing. I'm also wondering about the r
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by swensel 5y ago
I do think there will be some centralization at the exchange level. As of April 2021, Kraken had 600,000 ETH staked for ETH2 [1]. It's not in the interest of Kraken or Coinbase to disrupt one of these PoS networks, but there is some b
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by swensel 5y ago
This is one thing I've been wondering about new projects that start with PoS. How do they have enough distribution of the coins in order for them to be resilient against attacks?
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by swensel 5y ago
What would you propose the Bitcoin core team should switch to? Have you looked into the other algorithms, the feasibility of migrating of the existing network, etc.? It sounds more to me like you've just written off cryptocurrency in
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by swensel 5y ago
Are the people downvoting the above comment considering things like trapping excess flare gas [1]? This is energy that is literally wasted otherwise, and would be vented into the atmosphere, if not used for PoW mining (or put to some other
16.
by swensel 5y ago
Come on... PoW provides no value? So the almost $1 trillion in Bitcoin is just, nothing? Not worth anything? I think the people invested would beg to differ.
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by swensel 5y ago
Are there any proven PoS coins out there yet that have demonstrated resiliency under an attack? Honest question.
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by swensel 5y ago
Doesn't the mining difficulty decrease then though without the massive mining farms, and thus the electricity required decreases? I'm not an expert in crypto mining.
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by swensel 5y ago
I would have more confidence in Big Pharma if it wasn't an industry driven by profits, but for public good. Look at ketamine vs esketamine, for example: "Why isn’t ketamine an approved depression treatment, then? It comes down to
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by swensel 5y ago
Thanks! For the adoption, I meant more like new folks to crypto. I think sending someone new to Coinbase is a lot easier than having them set up Metamask, telling them how to get some ETH and sending them to Uniswap (and also having them un
21.
by swensel 5y ago
There have been a few notable hacks to exchanges, Binance, for example [1]. The DAO hack on the Ethereum network, which caused the fork of Ethereum and Ethereum classic, is also notable [2]. I do think the fact that there hasn't been a
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by swensel 5y ago
I've used Uniswap and IMO, the UX doesn't compare to the centralized exchanges. I think that will prevent mainstream adoption except for those who are pretty crypto savy. I'm also concerned that decentralized exchanges may ha
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by swensel 5y ago
OK, so you just don't like Ethereum? Why "garbage to fools"?
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by swensel 5y ago
Have you actually looked into the technology behind Ethereum? Do you understand how complex it is? You make it sound like Vitalik just quickly threw something together and had good marketing, however, Ethereum is quite technical and has bee
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by swensel 5y ago
Bitcoin is a worldwide network storing $1 trillion in value without a central party or government. That has never happened before. Are you sure you're just not open to considering the technology at all? Ethereum is another one to look
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by swensel 5y ago
Good point. Would I notice? Yes, most likely. Would people who don't pay attention notice? No, probably not. I was giving an example that Bitcoin and layer 2 solutions are related, similar to how dollars and credit cards are relate
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by swensel 5y ago
True. One solution could be to incentivize miners to use cleaner energy.
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by swensel 5y ago
The market cap of Bitcoin is currently larger than Facebook [1]. The total market cap of all cryptocurrencies is over $2 trillion, which is larger than Microsoft, Amazon, Google or silver, and nearing the market cap of Apple. I would not
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by swensel 5y ago
Thank you! I come to HN to have intelligent discussion as well, and I totally agree. If I go to Reddit it's mostly just a bunch of garbage, even with crypto fans. I do think HN is warming up to crypto, a little bit, at least, or may
30.
by swensel 5y ago
In all fairness I think we should consider the amount of energy spent to mine gold every year too (as well as the environmental impact), and that's just to mine it, not to mention refining, auditing, transporting, securing, etc. The en

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