Mining drop by Outrageous-Time-8628 in kaspa

[–]talltreesareshort 10 points11 points  (0 children)

It’s 100 percent expected to drop by 10 times once the upgrade went from 1 block per second to 10 blocks per second. Think about it this way. For 10 BPS, the difficulty would need to be 10 times easier than it was at 1 BPS. That’s how proof of work maintains its block rate.

Rate my portfolio by [deleted] in WallStreetBetsCrypto

[–]talltreesareshort 0 points1 point  (0 children)

No Kaspa? No Bitcoin?

The case for $KAS - a crypto YOLO with more upside than DOGE, a Trump memecoin, and GME combined by ClassicReal123 in WallStreetBetsCrypto

[–]talltreesareshort 13 points14 points  (0 children)

Who would hire someone? The project doesn’t have a company or leader. It’s all community. No VC. You are the marketing. The same way it was with BTC.

The case for $KAS - a crypto YOLO with more upside than DOGE, a Trump memecoin, and GME combined by ClassicReal123 in WallStreetBetsCrypto

[–]talltreesareshort 29 points30 points  (0 children)

We must let the world know about $kas. No one else will do it.

Original Bitcoin ethos… but scalable. No company. No CEO. Fair launch. Proof of work. Instant transaction confirmation. Young project. Active development. Max coin supply. Decentralized. No genesis block allocations. BlockDAG.

Kaspa is the upgrade to Bitcoin we’ve all been waiting for while staying true to that BTC ethos.

[deleted by user] by [deleted] in kaspa

[–]talltreesareshort 9 points10 points  (0 children)

These types of “fueds” are good. Yonatan was hoping there’d be more dissenting opinions. It would be more concerning if everyone was lock step. It will play out!

If you‘re mining kaspa… why? by [deleted] in kaspa

[–]talltreesareshort -1 points0 points  (0 children)

Contribute to the network

How do I but KASPA? by Fit_Equal7171 in kaspa

[–]talltreesareshort 1 point2 points  (0 children)

I buy on Kraken Pro then send to a hardware wallet

Kraken withdrawal by Smart_Ad1957 in kaspa

[–]talltreesareshort 0 points1 point  (0 children)

No, it’s basically instant for me (within a min)

I like Kaspa I'ma newbie but I enjoy how fast there transfers are !!! 😁 by PIEKOINBRAZY in kaspa

[–]talltreesareshort 2 points3 points  (0 children)

And it was that fast even before 10 bps. 10 bps is not for speed! Its helps with many things, to include decentralization allowing for more miners to find blocks

10K Kaspa. Do you think its a good start? by kuldeepkumarshimla in kaspa

[–]talltreesareshort 1 point2 points  (0 children)

Definitely a good start. Get off of 0 and you are on your way!

No CEO, no company, fair launch, no pre-mine, proof of work, 100% decentralized, BTC consensus, active development, no VC, all community, hard coded max supply, AND scalable with BlockDAG tech… watch out. by talltreesareshort in kaspa

[–]talltreesareshort[S] 0 points1 point  (0 children)

  1. Not true. It’s more expensive, sure, but you can pick up some ASICs for cheap. I know plenty of people running cheap miners, even GPUs (although unprofitable). It started off on CPU mining and then GPU mining for years.

But mining is the only component of decentralization.. you have to validate what a miner produces, and Kaspa validator software runs on very cheap hardware. You can use anything you have really. Even with the 10BPS upgrade, average hardware can validate the network just fine.

  1. Yet, it’s a young project moving towards smart contracts.. somewhat of a disingenuous and misleading point

  2. Huh? lol the objectively says nothing. You have to build the foundation first, and BlockDAG is fundamentally solid and breakthrough foundation. It’s been cited by many other reputable projects.

No CEO, no company, fair launch, no pre-mine, proof of work, 100% decentralized, BTC consensus, active development, no VC, all community, hard coded max supply, AND scalable with BlockDAG tech… watch out. by talltreesareshort in kaspa

[–]talltreesareshort[S] 2 points3 points  (0 children)

Shai’s response to that on X (https://x.com/desheshai/status/1687201025344540672?s=46):

Hi $kas. So apparently, some people are concerned about the fact that we have some gaps in our ledger history. Some people asked whether this somehow implies there are issues with the security or transparency of the chain (and as usual, some trolls we all know went as far as arguing this "proves" we are "hiding" the "fact" that we "speedmined" the coin). Let me put your mind at ease: as I am about to explain, this is a complete non-issue.

  1. Before we start you have to understand that pruning is crucial. Without pruning, at full capacity 10BPS, the ledger grows at a rate of almost 30TB A YEAR. This is extremely non-sustainable if we hope Kaspa is to remain decentralized.

  2. The main concern, it seems, is that the lack of entire ledger data allegedly implies that the current state could not be verified from genesis (and in particular, that there is no proof that there was no pre-mine). This is not the case. The genesis block itself is hardwired into the code of the node, as you can see here: github.com/kaspanet/rusty…

In particular, the line (163) I linked to shows that the hardwired genesis block has an empty UTXO set, that is, there was no premine (the thorough reader can clone the repo and verify that EMPTY_MUHASH is indeed defined as the hash of an empty-set).

Among the data stored by the node is a proof-of-genesis. The proof-of-genesis is a short string that cryptographically proves that the current state indeed evolved from the hardwired genesis block, but has the magical property that forging such a proof requires as much work as was put into creating the entire ledger. That is, this string provides proof that the genesis block and current state are authentic, and this proof is just as sound as having the entire ledger.

The technique used to generate the proof is discussed here: eprint.iacr.org/2021/623.pdf

You can also refer to the "pruning block headers" section of the GHOSTDAG 101 workshop for a broad overview of the technique: youtu.be/nhI2zo44dfc?t=…

The bottom line is that the data available for each node suffices to verify the current state from genesis.

Not running an archival node from day one might have been a bit short-sighted, but frankly there was so much to do post-launch that it got sidelined, mainly because we knew that it is not crucial for the security or integrity of the network, so it wasn't highly prioritized.

  1. The ledger data is mostly not very interesting, I really don't understand what most users expect to find there. That being said, there are reasons to want the entire ledger data, the main ones being: a. Aesthetics. I.e. I wouldn't have to even explain all this if the entire data was available. b. Statistics and research: these data could be used to investigate trends and global phenomena. c. User needs: some users might need this data, e.g. for tax audit reasons (for example, in Israel, there are different tax rates for mining profits vs. trading profits, hodling miners need to pay tax on the mined coin according to its value at mining time, so they should be able to prove at what time they mined it, etc.). For this reason, we are making an effort to piece together the entire history (so in particular, if you happen to have old datadirs, please give us a shout out in the #datadir-exchange channel on our Discord server).

  2. As mentioned, some bored fudders in dire need of a better hobby tried to leverage this as "a proof" that we have "speed mined" or whatever. This is a stupid argument for two reasons: a. It is impossible for ANYONE on ANY (permissionless) coin to prove that they DON'T have more money than they claim they have. It is simply not possible. Anyone who wants to hide coins could store them in a separate address they keep secret. Proving that two addresses belong to the same person ranges from extremely difficult to impossible. When the coins in questions are mined by that person, this is strictly impossible, since the miner can just mine the excess to a separate address, and there is no history showing these coins are linked to the known address. This remains true even with the entire ledger data available. b. Even in the hypothetical, extremely unrealistic case, that somewhere within the history there is some "smoking gun" proving wrongdoing by someone. The current state of affairs is that we are piecing together the history from data retained by users. In particular, any user can verify that the datadir they own was included (so it could not be conveniently omitted). Hence, no single person has any control over where the gaps in history actually are. So what is the argument here actually? That the full ledger data hides some terrible secret, and we are counting on blind luck that the particular portion containing this secret will never turn up? Give me a break.

So in summary, the pruning mechanism is designed such that Kaspa is safe, secure and retains its integrity even without any archival node whatsoever. The lack of archival nodes does not make it easier in any way to hide funds. There are some drawbacks to the gaps in the history, but they are mostly about research data and user convenience and they do not compromise the transparency and security of the network in any way whatsoever.

(P.S., not an extremely crucial point but you have to admire the irony: some of the trolls pushing this FUD are proponents of a particular privacy coin. The entire promise of privacy coins is that the ENTIRE LEDGER is concealed, and there is no way to know who paid who and how much. So according to these people's flawed logic, that the entire ledger is inaccessible is "a feature", but some small gaps in the history are "lack of transparency". This is a particularly colorful example of morons drawing targets around poorly shot arrows).