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Micah541
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Anyone know why this connection inside my oven is burning/melting and how to stop it?

I remain quite unconvinced that #drivechains will steal any significant fee revenue from Ethereum. (This seems to be behind the argument that the miners WANT it).

Just because there’s a $100 billion rideshare industry doesn’t mean I can get even 1% of that by making a new app and being slightly less douchey than Uber.

L1 miners can win sidechain blocks the old fashioned way, by inserting the side chain blocks into the block they find. Or they can use the auction if they want.

It’s good to separate the two BIPs I think 300 might have some decent use scenarios that don’t rely on the shoddy game theory in 301

The video was basically an ad hominem on paul, suggesting he’s some sort of VC corporate actor, when he’s on Twitter Spaces talking to plebs all the time, and he’s been at this for like eight years. There’s no way that you would characterize this as a “move fast and break things” scenario. completely dishonest. Just an attempt at virtue signaling jumping on the anti-Paul bandwagon.

$3 million is nothing compared to the money being spent trying to promote ETFs and other corporate involvement.

Quick comments and summary on the #drivechain discussion between Paul and Shinobi yesterday

Shinobi's argument: It's easy and riskless to reorg the sidechain, so this will happen, perhaps frequently. This is not disruptive to the L1 chain. Therefore there will be a significant discount between the bids for the sidechain block and the nominal value of the sidechain block. This induces L1 miners to obtain the blocks directly, instead of accepting bids from sidechain miners, which are deeply discounted.

Paul: OK, fine, but the discounted value of the block should be near the opportunity cost, so not a huge difference.

My comment: Actually, the discounts and risk of reorg are quite different depending on whether you are an L1 miner or a sidechain miner, have more hashrate than other miners, are willing to collude with other miners, or have deep pockets in to destroy opponents in a dollar auction or war of attrition. Larger corporate miners or coordinated pools have a distinct advantage and can be more aggressive and less defensive in reorging the sidechain.

Shinobi: Now L1 miners who mine the sidechains get a premium over those who are accepting bids. This gives these miners a distinct advantage. In particular small-time miners are unable to run a sidechain node will be left out economically speaking, which tends mining towards centralization.

I didn't quite follow Paul's response, it seemed to me like he was saying, "well that's just how it works" and not recognizing that this would be pushing smaller miners underwater, and that this is a bad thing.

Shinobi now on spaces with Paul getting good

What do you think people have used to buy shitcoins over the years?

Elon: I will stand up to help anybody who was fired by their woke boss over a tweet.

Meanwhile:

The #bitcoinetf filing has no mention of longest chain, heaviest chain, chains splits, in fact CTRL-F the etf filing for the word “proof “ comes up empty.

This should be an issue for regulators

Because everyone knows the name “Joe Biden,” genius.