look no, ok because you are all floating around the answer, here is the essence:
1/ if you have transactions and blocks, you need gas
2/ why do you need gas? spam control
3/ if you have gas, it has to be a fungible token, you can't be paying in parts of meme cards
4/ how do you issue the token? airdrop to NFT holders? LOLOLOL No, that is not how real blockchains work
5/ you have to mine/validate. the only proper use of a fungible token that is not a complete scam IMHO is to incent decentralized block production
6/ so how do you mine? with TDH
there are ton of non-trivial details but high concept is this
Context from
Sert
#34625
2025-03-12 22:23
What is the actual damage for the validator in this case? Do you lose the TDH if you behave dishonestly? How is this implemented in the protocol? Is it something similar to slashing?
It is BTC style assumption
What is the TDH security assumption:
1. You produce a wrong block, it gets rejected, you wasted effort
2. You collude with 51% of TDH holders to fuck the chain, you fuck yourself etc etc
what is the POS security assumption:
1. you stake ETH (put it at risk of slashing)
2. If you are malicious, the others slash you, you lose your ETH
3. It actually gets quite confusing on what the various failure states are in ETH
1. you waste your hashes on a out of protocol block it gets rejected you wasted money
2. you collude with 50% to fuck the chain, you can do that but then you fuck yourself because price will collapse
like at the core what is the BTC security assumption
BTC hashing power is more centralized than TDH
BTC is done
if 51% of hashing power in BTC decides to be dishonest
not a BFT style one
it is a BTC style consensus algorithm
is that 51% of TDH is honest
the one that has to be true
the fundamental assumption in the system
TDH votes
Context from
david
#34607
2025-03-12 22:14
how do the solved hashes tie to blocks. how do you enforce good blocks in-between JPEGs?
TDH has > $1B of security easily
3. The Memes / TDH create security by producing public goods. The better they are the more people hodl them, the higher the price, the less movement they have, the more people identify with them, the higher the security .
2. Proof of Stake creates a security budget by neither wasting anything nor producing anything, it is just self-referential
1. to create a Proof of Work security budget, you have to be actively wasteful. that is why BTC burns electricity on something explicitly designed to be pointless
here is another way to think about it:
Context from
Sert
#34599
2025-03-12 22:10
Honestly, this is one of the most interesting things I’ve ever heard in crypto.
"will the USG pump my bags"
have been come price shillers
a good chunk of old BTC cypherpunks
and even those who understand
correct, almost nobody understands crypto
Context from
Sert
#34591
2025-03-12 22:08
I think +90% of people still haven’t seized the true power and meaning of the crypto world, in the sense of Bitcoin’s and Ethereum’s foundations. DeFi is just a game for traders, meaning for 1% of the population. Even the “digital gold” narrative is just a construct for a select few. The real bull case for Bitcoin is not digital gold. Just as the real bull case for Ethereum is not decentralized finance. And for NFTs, it’s not digital TCG.
Or at least, not only.
These are all valid use cases, but they won’t drive mass adoption. Mass adoption will come from something that everyone will use. It’s not DeFi, it’s not digital gold, it’s not collectibles—less than 10% of the world’s population cares about these things. We’re just at the beginning. There’s no rush.
sometimes on the frontier you end up mining gold in SF, somtimes you starve to death on the Oregon Trail. Hopefully the former in our case :)
that is why it feels that way
it is a far frontier idea, even by crypto standards
Context from
hexum
#34587
2025-03-12 22:06
I guess by definition, best investment opportunity requires taking a very contrarian position but still. It’s easy to see how easy it is to miss/dismiss
TDH = hashing power (this is ok now and going well)
JPGs = Solved hashes (we start this now)
then Blocks
not possible without BTC and ETH of course but yes that is what I think, in my heart of hearts
Context from
david
#34584
2025-03-12 22:05
so I know this is a wild statement but sounds like your idea might be way more interesting than Bitcoin and Ethereum in terms of applications that are 0 to 1 and useful to society
trend is our friend
Context from
intrepid
#34568
2025-03-12 22:00
I think as it evolves people will shift more of their time here. I have been dropping in and out every couple of weeks since inception and its certainly much more usable interface now. AI spam ramping up exponentially its inevitable.
you have to do it our way
and i believe a ton of them are not solveable deterministically
there are centralized single points of failure everywhere
everything in crypto is a LARP
by this metric
my goal is: "how do you run a networked society / economy as complex as Spain or Korea or Canada" and not have any centralized single points of failure
Context from
david
#34561
2025-03-12 21:59
do you envision a lot of people making a living and being consumed by the network?
basically
but apps
then ok defi is fine, decentralized storage is fine, all good ideas smart
ethereum is 0 to 1
tezos or cosmos is not
they are very broadly speaking variations on the ethereum idea
but they are basically not foundational
they may or may not be good investments, make it etc
the 500 L1s/L2s are boring
the foundational ideas
are the foundational ones
ETH
BTC
and very few were in the end particularly interesting to me