@leaf
stacking since: #495061
16 sats \ 0 replies \ @leaf 29 Apr \ on: Linus Torvalds on Security, AI, Open Source and Trust opensource
Video of the chat:
I think my ambition might be ahead of my ability. 😅
Right now I am revisiting the feelings of confusion I had in my high school math class.
If another question arises, I'll be back. 🙂
I had an idea which it turns out was completely unworkable due to encryption weirdness, so now I'm reading some applied cryptography book and having to revisit how to solve linear equations...
So generally enjoying going further down the rabbit hole.
Not saying Ocean are right to leave money on the table, but apparently most miners attached to big pools won't see a big jump in earnings. My understanding is the pools themselves are likely to keep the lion share of the high fees.
Ocean pay miners based off the fees they actually take in. Their argument is even with them not processing certain transactions, and so earning less fees, actual miners still earn more than they would if mining with a larger pool.
Cheers. Honestly was just looking for an answer, didn't know where to post my question, so tried here. 🙂
Lots of people on Twitter complaining about losing money.
It's often said, "follow the money", and the miners are making huge amounts off this degeneracy.
If I were a miner with no morals, I would drum up excitement around the halving, convince people they want their jpeg in a block or a rare sat or whatever, and then watch the extra income roll in.
Can't say I like the miners' incentives here... it seems like there's no end to the fools lining up for these scams. Also not sure how this bodes for mining decentralisation long term, as this is a big pay day that will allow an unethical miner to expand and line up the next grift for even further expansion in the future.
There is a similar theory that John Mason in The Rock is an aging James Bond. Sent by MI6 to steal secrets from the USA, so when he was caught MI6 denied all knowledge about him. https://fantheories.fandom.com/wiki/The_Rock
I was just hunting for a classical music inspired Looney tunes episode but couldn't find the one I remember.
I really respect the artistry of those early cartoons - and I don't just mean the drawing, but the madcap creativity
You clearly have a better memory than me then :)
I think there is some Chinese quote that counterintuitively says memory improves with age... Or this is the second example in this thread of my memory playing tricks with me.
He barely needed to think about the question. "Play to your strengths," he said
I would add the caveat that sometimes weaknesses make someone more exploitable: I'm thinking of the stereotypical academic or inventor who dies poor after others profit greatly from their work. In those cases, a little work on their weaknesses - building relationships with people who could protect them, or whatever - could have prevented their misfortune.
Cheers for the reply.
How many years would it take to reach 100 TB? Can we suppose storing 100 TB will be expensive that year?
I'm amenable to the argument that technological improvements will save us, but at the same time I'd rather not trust in it - although given the trouble it seems anyone is having introducing any change, I'm inclined to think we have no choice.
Luke Dashjr has since long wanted to decrease to only 300 KB. But Lightning doesn't thrive with small blocks either I hear, so I don't think he have much or any support.
That proposal makes sense to me - as a temporary measure until demand picks up. Fees will eventually be high, so that might as well be embraced now. But I appreciate that, in terms of onboarding, this reduces the number of people that will be able to get their own utxo before being priced out, and that the infrastructure for a high fee environment takes time to build.
More "annoying" than "existential" on a scale of severity I think. But I'm looking forward to your analysis.
I'd guess if it ever did become life-or-death, then the utxo set would be pruned. But like you, I don't see it ever becoming that bad. If there is an issue, maybe it's that it's not a problem that will cause shock, but will just slowly get worse with time, and so people will put up with it.
It's not my analysis, but while I was trying to answer this question I found this post: https://bitcoin.stackexchange.com/a/115451
The post (with various assumptions) says 104 years until we reach the maximum amount of utxos that aren't dust.
I was hoping people already had an idea to combat this, but it seems there is no magic solution. I guess the takeaway here is that the problem is only annoying, as you said. And maybe some clever clogs will come up with something :)