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1. Bob Mottram 🔧 ☕ ✅ (bob@soc.freedombone.net)'s status on Sunday, 04-Feb-2018 08:13:25 EST Bob Mottram 🔧 ☕ ✅
   Watched the #FOSDEM Monero talk. It's nice that Monero fixes some of the failures of Bitcoin, but it's still based upon proof of work which is pretty disastrous from an environmental and decentralization point of view.
   
   The questions were revealing. On the question of how Monero would stop five companies in China from controlling all of the hash power, like Bitcoin, the speaker avoided it and answered some different question about transactions. Proof of work with increasing hardness over time always favors the already rich who can build hashing factories at great expense. They might not be able to do it with asics, but for them that's just an implementation detail.
   1. Christine Lemmer-Webber (cwebber@octodon.social)'s status on Sunday, 04-Feb-2018 13:38:31 EST Christine Lemmer-Webber

      in reply to

      @bob I have this feeling that blockchain technologies will move in the following directions:

      a) bitcoin will stick around but people will give up on it being a currency... instead it'll be an e-gold value store to back other currencies
      b) blockchains are not unlike signed git logs. Why are we trying to put everything in one repo? Instead the multi-repo approach, along what DAT and SSB are doing, will become more popular (with maybe consensus of "latest values" in one big chain")

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      1. Mayel - ghost account (mayel@social.coop)'s status on Sunday, 04-Feb-2018 14:28:06 EST Mayel - ghost account

         in reply to

         @cwebber
         @bob

         Agreed, have you looked at Holo as a possible implementation?