polynya
@polynya
PoW (or PoS) are useful for forming a status quo. But beyond that certain point, due to economies/entrenchment of scale & lack of redistributive mechanisms, they will likely only centralize things further. When the time comes, replacing them with a better mechanism will be essential for minimizing centralization.
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timdaub
@timdaub.eth
I feel like your take that CEXs change anything about the properties of the Bitcoin network is wrong. That argument can be made, like how you can say that gmail is bad for email. But email still forwards a lot of protocol benefits to its users
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Naomi
@naomiii
https://arxiv.org/abs/1904.02368 to this day the best source to reference whenever some BTC maxi comes and tells me that the intial decentralization was a guarantee things would stay that way.
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Millie
@millie-x
What are your thoughts on Justin Drake’s views on one shot signatures to solve double spends?
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cryptocellaris.eth 🎩
@cryptocellaris
Do you think there is a better mechanism already that hasn't seen wide adoption or is a superior alternative yet to be invented?
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Max Andrew
@maxandrew
BTC is stuck with PoW because mining interests got too powerful. Ethereum’s PoW is the leading protocols increasingly openly copying the big tech playbook of acquisitions, lobbying, and copying
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Kiwidog4
@kiwidog
Any redistribution mechanism would need to be anti-sybil and anti-large actor. A combo we've yet to find a (non-centralized) solution for. Right? I feel like if we solve this, we improve so many areas (Airdrops, governance, wealth concentration and etc). What solutions are you looking at? Zk?
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0xcaw
@xclips
PoWs: the ultimate enablers of bureaucracy... and stagnation.
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ucung
@ucung
Game-changer for decentralization!
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Dusman
@dusman
Status quo is comfy, but centralization's a trap 🚫
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Blockboy
@0xblockboy.eth
Maybe social proof is the ultimate decentralizing mechanism
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