Damus
Tauri | Bitcoin (XBT) · 3w
Apparently, Siacoin used to be worth about 100x more eight years ago. That means a huge pile of BLAKE2b-compatible ASICs were eventually left sitting on shelves, collecting dust. Then Bitcoin (BLAKE2...
paxchristi profile picture
Idk man, sounds a look like blake2b had plenty of issues (maybe tests would be a friendlier way of putting it). But you’re not going to educate people who basically don’t care, an impossible task. Maybe a reduced pool fee would attract some, which Ocean does currently. But miners might switch on and flash mine or play difficulty adjustments, and just mine the quick block rewards and dump them, and/or play pump and dump games along with the aforementioned. If the price doesn’t slowly rise miner sales can quickly become exit liquidity at the inflated prices, then fomo plebs are left holding miners that cost a lot, and if they join then when the difficulty finally settles they be left with a difficulty that’s going to take them ages to recoup and they’ll also be dumping whatever they mine once they get it.

Idk lots to see what happens but the shaking mining start is not good. Think about it re: bitcoins beginning there was a long long slow grind of the network hash from cpus up to specialised hardware, but now you just have all these asics sloshing around to throw at Blake and play games. Ie you can’t repeat the organic growth of bitcoins hash on Blake simply put, if it works out it’ll be a fluke or a miracle. Right now I can’t see it any other way.

That and the awkward solution by mechanic and the pushback from Luke. There’s literally a Satoshi figure head again something that Blake can’t ever hope to recreate, would Luke step away from being the primary dev?
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paxchristi · 3w
nostr:nprofile1qyt8wumn8ghj7ct5d3shxtnwdaehgu3wd3skueqpz4mhxue69uhkzat5dqhxummnw3erztnrdaksqgp3gpevzmafgvlpxa8k9eds9jqk89rw62v2nn0rk92p2y7zn5vllu4ahmmc A perfect example: "Mined bitcoins are unspendable for their first 100 blocks. There has been proposals to either delay spending them for 4375 block...