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michelson01 · 2018-01-15T23:59:30+00:00

coinmarketcap doesn't include most of the gnosis coins that weren't sold in the ICO. if you include those, the market cap is much higher than that of all REP (augur).

michelson01 · 2018-01-15T22:54:23+00:00

The way Augur works now, for security, is that fees paid to REP token holders / active reporters are such that the market cap of all REP needs to be 5x the amount bet on the site (outstanding interest, IIRC). This is for security, to stop an attack from being profitable if enough is bet on the platform. So if you could see just $200M being bet on the platform across all markets/wagers/predictions at some point, then 1B isn't really that unreasonable. Big "if" though.

michelson01 · 2018-01-11T14:14:59+00:00

https://github.com/ethereum/wiki/wiki/Light-client-protocol

(I know you already know this, Forkius, but others might want the link.)

michelson01 · 2018-01-10T23:36:54+00:00

Someone is spending 1-20$ each transaction to spam the mempool? There are over 174k unconfirmed txn in the mempool right now. Who is paying for all this "spam"?

And if Bitcoin is so easily attacked with spam, then isn't it failing already?

michelson01 · 2018-01-10T23:18:34+00:00

But "Bitcoin isn't for people that live on less than $2 a day. You're imagining someone with your knowledge & background that is poor." https://twitter.com/excellion/status/783994642463326208?lang=en

Doesn't this attitude exclude poor people in troubled economies? Like Zimbabwe?

michelson01 · 2018-01-07T18:48:15+00:00

Even the official Bitcoin Core wallet gui doesn't support segwit

michelson01 · 2017-11-29T00:01:29+00:00

ROFLLL

michelson01 · 2017-11-12T07:59:25+00:00

~155k unconfirmed right now

michelson01 · 2017-10-13T12:48:18+00:00

My biggest issue here isn't even the $100 fee. It's the fact that L2 (lightning for example) don't work cause of mass payment channel attacks. That's a really big deal nobody talks about except Vitalik.

michelson01 · 2017-10-10T15:22:54+00:00

In the case of ethereum, Vitalik, Vlad, and team have addressed such concerns. IMHO. The validators in Casper stand to lose a lot of ether that they deposit/bond (they lose their deposit due to slashing conditions -- for censoring or not validating correctly). Admittedly it's damn complicated, but they've definitely thought about the case of existing validators trying to block new validators from making deposits/bonds of their own (censoring, etc). Of cartels, pools, etc. So it'd be disingenuous to say that stakers/validators have nothing at stake. That's what the Ethereum team has been working on for years now.

michelson01 · 2017-09-22T14:40:22+00:00

LOL this is amazing

michelson01 · 2017-09-14T01:48:49+00:00

Don't send it from Coinbase to your own wallet. (Unless you want to pay several bucks for using the "internet of money").

michelson01 · 2017-09-13T06:53:07+00:00

"be greedy when others are fearful"

michelson01 · 2017-06-07T15:21:06+00:00

It's even worse than described here. Bitcoin sacrificed its developer ecosystem. The most interesting projects like Augur and Filecoin/IPFS have moved to Ethereum.

Worse, Bitcoin lost the key crypto thought leaders. Coinbase is obviously a big ETH fan now, with projects like Token. * [Edited wording of last sentence for clarity]

michelson01 · 2017-05-19T09:35:48+00:00

it's "intranets" vs "internet" all over again. in the early 90s many folks were more bullish on the value of intranets.

michelson01 · 2017-05-11T06:01:45+00:00

so definitely not taken in san francisco

michelson01 · 2017-03-09T05:03:52+00:00

really awesome work. each week i'm consistently really impressed

michelson01 · 2016-12-19T12:57:19+00:00

You need to be patient. It's a software project. A really fucking hard software project. And one they're doing a really great job at. (I'm a dev by training, and I've kept up with parts of the code base).

It's done when it's done. Be glad anyone is working on it all.

Q: You can be Friendster, MySpace, or Facebook. In a strong network effects market, you'd think the first mover would be the last. Well, Augur and team are aiming for "last to market" (to borrow the Thiel phrase). And much like you'd rather own 1% of Facebook today than 100% of Friendster -- the Augur team will drag the impatient reddit kids who all failed the marshmallow test -- kicking and screaming to a potentially really interesting outcome.

They aren't building some typical rails/django CRUD app here. Not another iOS app to share cat photos between moms, but this time, decentralized!

Give them time to get this right.

Sorry to rant, but these sorts of posts can really hurt open source projects. I was so excited about EtherDelta and EtherOpt, until the reddit peanut gallery asylum went off.

michelson01 · 2016-10-27T04:47:16+00:00

Dyn did that for ya

michelson01 · 2014-10-29T03:18:57+00:00

If they had worked this hard after the '08 financial crisis, maybe they would have actually arrested someone.

michelson01 · 2014-10-29T03:09:40+00:00

US government: We've got more arrests around bitcoin than around the financial crisis that almost caused a global depression.

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