steviep

@steviep

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643 Followers

steviep pfp

When do we get a stablecoin that pays out half the yield it gets from investing in treasuries?

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IOU #204 @steviep This IOU is a bearer instrument. It should in no way be considered a promissory note. While this token may possibly be exchanged with other parties for monetary or non-monetary compensation, there should be no reasonable expectation of profit from holding it.

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Of course, this would have led to the Nets getting the #1 pick this year

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steviep pfp

As much as I love ping pong balls and secrecy, the NBA really needs to turn the draft lottery into an onchain commit-reveal process. Think about it: all 30 teams + one lucky fan commit a hashed seed; they all reveal the seed; you hash the combined output; and you input that into a PRNG. Problem solved

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Well, if I'm running 600k of the 800k validators, then the network isn't very decentralized 🙂 I'd say number of unique consensus nodes + the staking concentration is probably a step in the right direction

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I've always been here

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steviep pfp

I know that Solana has way fewer nodes due to the cost constraints of running them, but that's not the only measure of decentralization. Also, 800k for Ethereum sounds high. I think that might be the number of validator slots staking 32 ETH? The number we care about might be closer to 10k according to https://ethernodes.org/

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I'm very aware that people keep saying this, but I'm trying to learn why. Are there reasons, or is it just vibes? People also say bitcoin is more decentralized, but it's pretty clear that the network's hash power is consolidating way faster then Ethereum's validating resources

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🕯️🙏🕯️

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steviep pfp

I never really bought this argument. Sure, you need money to buy the staking currency, but you also need money to buy or manufacture chips. What you're saying might make more sense for making sure a network is decentralized when it starts, but we're way beyond that. I don't care how decentralized these networks were 10 years ago

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That's my impression as well, but I'm trying to get a clearer picture of things. Like, if staking is equally distributed amongst 300 data farm VC bros in different countries who don't know each other, then that isn't necessarily worse than thousands of small validators making up a minority of staking + a couple big ones making up the majority

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Do you happen to have any more recent data? I don't doubt that the ownership is more centralized, but that's from four years ago

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How much does it cost to run a Solana validator? More than the 32 ETH staking minimum? And even if small validators are priced out, are there enough medium-sized validators on the network to spread things out?

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Does anyone have a good explanation on why Solana is more centralized than Ethereum? I can't tell if that's true, or just a meme (like how Bitcoin is more decentralized than Ethereum)

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steviep pfp

Do Henry George

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The number was 5! Roughly 20% of people predicted it correctly

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steviep pfp

Give me a grant to build another farcaster client, and then people will get the picture

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This guy is the biggest neckbeard on youtube

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I guess that would only apply to private companies, right? If they're public then the union can verify whether or not they're trying to draw blood from a stone. But if they're private then they have less info to negotiate with?

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