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0 pointsbearerofgarbage5y ago0 comments

what problem of value does it solve?

every post including cryptocoin here gets a generic comment like yours about some other cryptocoin that is 'very promising'

0 comments

Erlich_Bachman5y ago

Maybe try reading the post again? I have no affiliation or even opinion about that coin, but it is painfully clear for that post only that the proposed problem of value is

"valid consensus mechanism that scales of PoS and PoW networks".

Half of the comments on this page complain about how Bitcoin uses too much energy and how PoW is wasteful. This is a direct (allegedly, if what they write is correct) solution to exactly that.

SideburnsOfDoom5y ago

I honestly don't think that either BitCoin or CryptoCurrency in general _can_ be reformed. The whole mess is a complete write-off.

gillesjacobs5y ago

You're dismissing a whole branch of computer science on decentralised systems with no argumentation as to why. Consensus algorithms, solutions to the CAP trilemma, uncensorable decentralised applications that run as long as people are willing to use them, trustless oracles, decentralised dispute resolution, democratised loans and finance. Those are some applications that grew out the cryptocurrency space.

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Erlich_Bachman5y ago

On a somewhat related note, I just wonder for my personal interest, why do you write it that way? "BitCoin". You are just signalling everyone that you haven't done any deep research, you have not read any meaningful amount of articles or books or studied it in depth... It is spelled "bitcoin". "BitCoin" is how a housewife would spell it (no disrespect or negativity towards housewives, it is simply an example of a person who does not know much about bitcoin and has just heard the name on the tele or something).

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jtms5y ago

It appears that it solves the problem of there needing to be yet another cryptocurrency

gillesjacobs5y ago

I wanted to share a cool algorithm related to the time as consensus. My intention was not to shill a specific project.

I follow alternative consensus algorithms and trustless decentralized app tech in the blockchain space because I think it is interesting and democratizing tech. I do not own half of the coins I follow and couldn't care less for speculation. Technologically, cryptocurrency is still an exiting domain and scepticism is in place, but the blind hate for anything blockchain on HN is a bit OTT.

j / k navigate · click thread line to collapse

0 comments

Erlich_Bachman5y ago

Maybe try reading the post again? I have no affiliation or even opinion about that coin, but it is painfully clear for that post only that the proposed problem of value is

"valid consensus mechanism that scales of PoS and PoW networks".

Half of the comments on this page complain about how Bitcoin uses too much energy and how PoW is wasteful. This is a direct (allegedly, if what they write is correct) solution to exactly that.

SideburnsOfDoom5y ago

I honestly don't think that either BitCoin or CryptoCurrency in general _can_ be reformed. The whole mess is a complete write-off.

gillesjacobs5y ago

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Erlich_Bachman5y ago

1 more reply

jtms5y ago

It appears that it solves the problem of there needing to be yet another cryptocurrency

gillesjacobs5y ago

I wanted to share a cool algorithm related to the time as consensus. My intention was not to shill a specific project.

j / k navigate · click thread line to collapse