I am humbled to announce that I am joining Chia Network, a layer 1 public blockchain, as Chief Legal Officer. I am also a crypto skeptic. These are not mutually exclusive statements. I’ve always believed that there was a place for blockchain in our world…

Sigh, crypto people on X... 🙄 I don't have a dog in this fight other than to care about the quality of tech. From that POV, why did the "inferior" one fix a known consensus bug... and have the entire chain back to the genesis block? And why didn't the OG remedy these? 🤷‍♂️

@rkroelin @SlowestTimelord @hoffmang @ZTOR15x0 🤣

RT @milesjennings: Just spent an incredible week in DC and I'm more optimistic than I've ever been that crypto is going to get regulatory c…

@primdigital @SlowestTimelord @hoffmang I believe that a lot of tradfi wants to be involved in crypto eventually, so they have to signal willingness to test and dabble in it without serious commitment. That's okay but it really is more marketing than substance at this point.

People really need to do homework rather than shill as a "KOL". Links: Chia: BTC: ETH: I reckon others like Spacemesh probably are at this level too.

@SriniSurasani @zooko Thank you! Interesting but I'm not convinced it'll be a security upgrade. Sustainability and token price I understand why, but @zooko should be talking to @bramcohen about why PoST if you want security AND sustainability...

@SriniSurasani @zooko Is he? I honestly don't keep up with ZC. Got a link to share on this?

I'll also say that the point of PoW is that longest chain wins. If an 'attacker' chain really had 51%+ of the hashing power going forward on an 'attack', then the social convention to 'take back the chain' is actually the hack/attack on the chain. Because the 'attacker' chain isn't an attacker--it's the chain. A fully automated consensus (rather than "partially automated" one, such as described by Vitalik at Stanford in Aug 22) is a feature, not a bug.

There is a second Nakamoto Consensus algorithm in mold of PoW (really a derivative of PoW), and that's PoST. Same sybil resistance, same longest chain to fight long range attacks (which have to be sustained, can't be flash loaned like in PoS), but sustainable and with op codes.

Just because the crypto industry believes @SECGov @CFTC are open for business doesn't mean it should double down on backwards technology, centralized systems parading as "DeFi", and making claims which are just incorrect from a tech perspective (and probably fraudulent). 😑

@hoffmang They also didn't solve MEV (they could have by having concurrent swaps...), they just closed their system into a permissioned (cough private) blockchain.

RT @jde5011: PoST and better than BOTH of these alternatives. But PoS is not better than PoW. Both are bad. PoS is WAY worse. You don't pri…

@sh0edog This is what many call DINO (Decentralization In Name Only) or decentralization theater. Decentralization in reality requires technical (protocol level) decentralization.

@hoffmang

RT @hoffmang: “That’s a lot of words to say my L1 isn’t decentralized. Nicely done but that’s not adequate for the nation state battle”