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0 sats \ 13 replies \ @l0k18 2 Aug 2023 \ on: For a few hours i was a millionaire. My story : meta
I think it's interesting karma that after making a statement that in effect promotes the idea of arbitrary emission rates gets hit by an error caused by a mistake in controlling the emission of rewards.
Maybe someone "up there" is trying to point something out to you?
Are we cross-post stalking now ?
I think it's interesting how you refuse to answer inline on the relevant thread about things you do not understand about DriveChain and invented out of nothing, but pop up randomly on an entirely unrelated topic to further not answer anything.
1 month and three days. Congrats again.
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No, I didn't connect the two things together until I saw the feed just now, and then thought to myself "ohh, that's that guy!".
Also, please continue to assume I am stupid, that's helpful for me.
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I'm not assuming you're stupid, i know you are evasive.
Lots of people would love to know how DC introduces arbitrary emission rates in bitcoin. Heck i bet you would win the Nobel prize.
After you come around to that, in ayear or so, maybe take a shot at the other random shit you said about DC increasing "throughput" a completely open ended term that could mean anything from increasing demand to overburdening miners and beyond. One meaning increases network security, and the other being conjecture.
I fully expect you to ghost at this point or introduce some other non-sequitur. See you in a week on my next post about yellow bathtub ducks !
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Ah, see, I couldn't stop myself from checking in in the late afternoon, been busy fixing clogged drains and greasy cooktops.
There is nothing added by DCs except complexity and some degree of trust problem. Is it federated/(delegated) Proof of Stake or this sort of thing? If that means the powers that be in this little "side chain" decide, your "pegged" bitcoin token can still be removed from your ownership. Instead of a simple protocol vulnerability, they might exploit human vulnerabilities, acquire the keys of other signatories, or who knows what other creative mischief they can get up to.
If it is proof of work, then it's got a problem with opportunistic, and even automated profit seeking systems like NiceHash. I was already writing a prototype proof of work based on extremely large integer long division in 2018. I'm not new to this. I was using Nicehash, and then had 0.12BTC not get paid out to me, like so many others. And then there is also exploits that involve other protocol vulnerabilities, timing attacks, all kinds of ways can disrupt these systems.
The next innovation in this space will come out of another L2 and/or L3s going on top of LN, and maybe this Ark thing and other projects that are not trying to reinvent the wheel like DC is. I wouldn't even have a clue what the next thing that will be as big a deal as LN will be. I like to think that Indra will be, but I gotta finish writing that thing yet.
You might think it's different, but all the cryptography I am aware of involving multisig and threshold quorums and such have all the fun vulnerabilities of democracy itself, and add on the as yet not prosecuted ponzi schemers who can bring their ill gotten tokens to piss in a DC pool and maybe they can even wrangle to have an undue amount of bitcoins "accidentally" signed into their control.
There's probably more ways to break DCs than I have listed here or previously mentioned. I'm just telling you this because I think you are overly confident in them because you don't know how many ways these systems can be wrongly designed.
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Is it federated/(delegated) Proof of Stake or this sort of thing?
Again, this has nothing to do with DC. How can you write so much about something you don't know about and have not even looked up the basics about. I guess you enjoy wasting time. bye troll
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When drivechains first marketing point is not a hostile attack on the credibility of bitcoin I'll start paying attention.
But unlike SegWit, it is possible for a Drivechain txn to follow all the rules, yet still result in “theft”. Namely: it could follow all of the mainchain rules, and all Drivechain rules, but it might break one of the sidechain’s rules (of which the mainchain is ignorant, by design). Thus, mis-withdrawals are possible – they just take 3-6 months to go through (as do valid-withdrawals).
Oh, mis-withdrawals. Extra sidechain rules. It's DAO in another guise right?
Like I said: Social Engineering Attacks.
And how long before new tokens? And who decides the emission rate? Doesn't seem like drivechain takes the notion of authenticity of the chain of custody very seriously, putting quotes around the word for misappropriation of property.
Nobody is going to take this crap seriously, it has nearly zero chance of doing any better than any shitcoin, and nearly zero chance of not being used to launch yet another ponzi scheme, with deliberately complex sidechain rules that some people already know how to exploit.