Replying to Avatar hh

I like Cardano, as an idea. I think they're genuine about what they're trying to do and their principles.

Doesn't mean I think Cardano can do what BTC does -- it can't and THERE IS NO SECOND BEST. So I save my wealth in BTC, not in Cardano. However I do think there is a fundamental difference between Cardano, with their approach of putting out peer reviewed papers on every fucking single thing -- which I'm not qualified to judge --, their choice of UTXO, a defined max supply and regular preprogrammed issuance, and their effort to build truly decentralized governance (they're passing a Constitution soon?), versus other projects like Ethereum.

I have asked Cardano people many times to explain their claims that their version of PoS "Ouroboros" whatever version it is now, is as safe as PoW, and they have this "if you don't get it I don't have to explain it to you" kind of attitude of referring people to their multiple papers. So it is what it is, though.
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OzzyHB 1y ago

At the end of the day, technology drops the the cost of production. Without PoW, that implies all shitcoins with only "Any" type of PoS, will fall to near zero in value over time..

That is my understanding..

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hh 1y ago

I don't doubt it, and that's why I keep asking the Cardano people to explain how come they have this magical PoS system that is as safe in the long run as PoW. They simply point me at these complicated mathematical proofs, which I can either trust or not trust. To be honest, for me the mathematical proof of PoW is similarly esoteric, but it's lined with my intuition at least.