If only they knew that LLMs would soon take over as the new energy hog in the spotlight
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Does anyone know I'd proof of stake ended up being better than proof of work? I dont follow crypto but kept hearing that was supposed to improve things
Crypto is a big deal because it enables grifting and crime, but with how shit payment processors are and their tendency to use their position for censorship, crypto actually would be a potential way of solving that problem IF it werent ludicrously volatile and wasteful. But I have no idea if those problems could really ever be solved, or any progress has been made on those fronts
Proof of Stake and Proof of Work are two different ways of electing who should append the blockchain with new transactions.
Proof of Work: the one who can waste most energy fastest is most likely to be elected.
Proof of Stake: the one with most money is most likely to be elected.
It’s a bit oversimplified, but that’s the general idea.
Proof of Stake: the one with most money is most likely to be elected.
This is misleading. Winning the validation election doesn't give you more power.
The one who is most dishonest gets their stake burned.
How is that misleading, they said nothing about power or being dishonest?
Also, proof of stake sounds like rich get richer scheme (but that was already true for proof of work for a long time)
How is that misleading
The word elected implies power. Having more money staked doesn't give you any more abilities over a capital poor user.
proof of stake sounds like rich get richer scheme
Like all capitalism. An interest bearing bank account is a rich get richer scheme.
In PoS you do still have to do a bit of work for your money (hardware, power, network connection, verification).
IMO xmr kinda saved proof of work by optimising their algo for consumer grade CPUs.
CPU mining is much less econimcal than GPU because you can't fit as many CPUs on a single system. Plus server grade CPUs with lots of smol cores instead of a few big ones hurts it too.
Makes it hard for anyone other than nerds with am extra PC to make money mining, and most of those guys won't be purposely picking a geographic location with the cheapest/most environmentally harmful electricity source. (More nerds live off of nuclear/solar than datacenters full of miners do)
https://en.wikipedia.org/wiki/Ethereum#Transition_to_proof-of-stake
I know Etherum made the switch, but I don't really know about the rest of the ecosystem.
Also since we're throwing questions around for those who don't follow the developments anymore:
- Did larger blocks ever become popular, since the BTC, BCH split?
- Did the lightning payment network ever become popular?
Did larger blocks ever become popular, since the BTC, BCH split?
At least on the Ethereum ecosystem, it has been increasing slowly until last year. See "Ethereum Mainnet: Historical TPS Capacity" [TPS = transactions per second] graph here: https://www.growthepie.com/quick-bites/ethereum-scaling
Since launch, Ethereum Mainnet has methodically improved efficiency and capacity without compromising decentralization or security. It went through several key upgrades, each contributing to incremental improvements in efficiency and capacity. You can read more about these on our ecosystem page. From 2015 to today, Ethereum scaled from ~0.71 TPS to 24.9 TPS, a 35.0x increase.
After years of steady gains, the pace is set to accelerate. The goal is to scale by ~3x per year with upcoming improvements. This takes today's 24.9 TPS into the thousands before decade's end.
There are many other upgrades yet to come. You can also find more details about them here: https://forkcast.org/
But the scaling approach also changed. We are no longer just looking for vertical scaling, like larger blocks, but also via horizontal scaling, which is usually called Ethereum Layer 2, which aims at millions of TPS. That first link also has more details in case you want to dive deeper.
Did the lightning payment network ever become popular?
As far as I am aware, it's barely used
Yes, Ethereum has been using PoS successfully for over three years and they're not the only major blockchain to do so. PoS works great these days, still using PoW in 2026 is a deliberate choice.
Don’t think crypto is the solution to replacing payment processors. The distributed networks is going to have enormous difficulty scaling to even a fraction of the number of card payments processed each day.
That won't be the case for long, see here for some quick bites in case you are interested: https://www.growthepie.com/quick-bites/ethereum-scaling
Ethereum is on a clear path to scale. Over the next six years, Ethereum Mainnet throughput is expected to surge toward 10,000 transactions per second (TPS) - roughly 1 gigagas per second - while Layer 2s (L2) collectively push the ecosystem toward million-TPS capacity.
For example, one of the Ethereum L2 rollups mentioned, MegaEth, is expected to have mainnet launch date this month after a 35k TPS stress test.
How?
Ethereum's strategy combines multiple approaches to sustainably increase capacity while preserving its core principles:
EIP-7938 (Dankrad Feist) - proposes a default, exponential gas-limit growth schedule where clients vote automatically to increase L1 capacity over time (subject to coordination and override). Read the spec here.
Lean Ethereum (Justin Drake) - a design philosophy to streamline consensus, data, and execution, leveraging DAS and real-time zkVMs for “beast mode” performance while staying verifiable. More.
More EIPs - parallel efforts improve execution, networking, and data availability. Slide overview [<- google docs alert].
The aim isn't raw TPS alone - it's sustainable, decentralized scale that remains easy to verify.
I didn't mean for everything, I meant if crypto could ever fix its shit it could be a useful tool for folks affected by the issues with payment processors
But it would have to be stable in value, not suck for making transactions, and not be wildly wasteful
Yeah but without anonymous payments (xmr) there's no good way to easily pay for diy estrogen or hosting for piracy services, or to anonymously pay my mullvad account.
Granted if society wherent setup as a giant fucking fascist capitalistic panopticon we wouldn't really need any of that.
Any who, I mostly agree with the sentiment though. "Career" investors and venture capitalists belong against a fucking wall IMO.
You do know that you can pay for mullvad in cash?
You can send cash in an envelope to them with your mullvad ID and they will credit your account.
How do you anonymously pay for things when the ledger is public?
xmr is a cryptocurrency which aims to make reading transactions from the chain impossible. Iirc the main mechanism of this is that they bundle a lot of transactions together and send out coins from that pool only once it is large enough, without preserving each specific coin. This repeats for a few proxies. You could trace a coin from origin to endpoint, but this would be pretty much useless as you cannot know whether the endpoint was the intended one or not.
Interesting! So at best you could narrow down the purchaser to one of many possible sources.
My first thought is that a large enough organization trying to demask you could do so by looking at repeat subscription purchases over time coming from the same wallet. You know, like a monthly fee for a VPN. The first month you're one of a thousand people. The second month. Maybe you're one of 500. Eventually they get you.
But I know nothing about XMR, they probably solved for this. I just can't be bothered to read :-D
I believe the way they deal with this is by having the recipient create a one-time address for every sender, so it is not possible to recognize patterns between senders and recipients. Another thing is that every wallet has two associated keys. There is a "spend key", which is a write-only key that can spend money from the wallet, and a "view key", which can be used to view the contents of the wallet. You can publish the view key if you want that to be public information, but you don't have to.
How does the mechanism know who to send the coins to? How can I be sure the coins I put in go to where I intended them to go? And can the sender prove to the receiver it was their transaction?
As I understand it, this happens cryptographically. Send keys can be added to form a larger key, which gets used to sign the pool of transactions. Because the signature used your key as well, the recipient can verify that they have received your coins(from a pool you signed). The important part is that it is impossible to tell who signed what part of the pool, just that one of the people in the pool did. Because all money is pooled together and sent at the same time, it is not possible to read from the amounts sent which transaction belongs to who.
The ledger being public doesn't necessarily mean anyone knows who "13LPtD4GG1XX7fgrze6xMR5V284rRQg9jv" is. But yeah, you can of course track the movement of funds, and make educated guesses on which addresses belong to who.
Additionally, you can use a coin tumbler (I think that’s the term) where a bunch of strangers pool their coins for various transactions into one wallet that then distributes the coins to their end destinations, adding a layer of obscurity for which starting wallets are associated with which ending wallets.
Which is pseudonymous, and not anonymous. Unless we are talking about monero of course.
Okay, that's probably a fair distinction. Don't know enough about anonymous vs pseudonymous to disagree.
Had to go check this because I thought I was having a TIL but, while your point is basically correct, the word isn't a portmanteau but rather means "baring or using a fake name (pseudonym)"
XMR uses some really cool cryptography actually. Zero-knowledge proofs and shit.
That's literally what caused bitcoin mixer services to exist where you throw some amount of BTC in an account with them, tell them how much you want paid to whom, and then it takes all the transactions for a certain (usually random) time period and plays a shell game with them, passing funds from account to account in various amounts and resulting ultimately in the right amount going from you to the target via multiple intermediaries. Slow because it involves a lot of transactions, but the idea was to make it hard to trace exactly who was paying who, beyond being able to know that one or more of the user accounts were paying some amount to one or more of the destination accounts.
Over the last 5 years or so, law enforcement has been shutting down several such organizations for money laundering, being illegal money transmitting businesses or things along those lines as appropriate to the jurisdiction.
Even without them, with good opsec it can be hard to tie a BTC wallet address to a human person, which is the point of anonymous payment.
Not all crypto is the same. ZCASH uses an encrypted ledger. Monero combines transactions and redistributes to obfuscate.
With monero the ledger is encrypted and has a bunch of obfuscated/fake data in it
If you bought crypto, same way money laundering works. Otherwise you can earn crypto while remaining anonymous (but in the case of a VPN, connecting to it from your home IP after anonymously buying it kind of defeats the purpose [partially])
If you are buying online it will track back to you through the payment method. If you buy in a physical location, you give an important clue to where you live. If a state actor wants to deanonymize you, it's only a matter of how many resources they are willing to spend on it.
If a state actor wants to deanonymize you...
Then there ain't fucking shit you can do about it. The only thing you can do to keep big brother off your back is to be too small of a fish for them to spend their time on.
You can buy from a physical location if the seller is not a regulated seller (just a random person), chances are they bought the bitcoin from someone else where the coin literally could come from any place in the world. The magic of bitcoin is it is digital so the "coins" can "teleport" around.
Say you buy $50 worth, which isn't anonymous. Then you add to a pool of several thousand or more, which is then sent out to several clean anonymous wallets as smaller fractions of the whole minus some fee. It's not rocket surgery but works effectively well so long as you have good opsec and the pool is trustworthy.
The wallet you sent $50 from is known, but which of the hundreds of wallets that got $10 from the pool belong to you vs others in the pool? They can deduce it from patterns and usage, but it makes it a lot harder. And this is just "newbie's first introduction to anonimized finances"
But unlike cash, the chain exists forever. They can do wild sorts of analysis, which means you need good opsec with clean separation, and lots of obfuscation. But this is nothing new to people in that world.
So yes, it can be anonymous, but it's tricky and may not always be because it has a permanent public record.
.... But if you go thru all that trouble and then just connect to your new shiny dark VPN from your home PC... Uhh.... It's like ordering pizza delivery. Maybe not the best usecase for 'untraceable currency'
That's a good point. If you earned the crypto anonymously, you could probably spend it the same way. Because they would tie it to a wallet but not a bank account or a person.
Okay, politely, fuck off. Its 2026 and I absolutely refuse to believe anyone educated on crypto enough to know what a blockchain is and how it works, even if just a basic understanding, doesn't know about encrypted blockchains or XMR.
You get to post this comment like once in your life, and after that we both know its in bad faith. I really doubt its the first time.
There's actually a surprising new discovery coming out of East Asia this year. After years of research, they've discovered that you can educate someone online without being a total dick.
I too thought it was impossible. But I can't argue with science.
Normally I'd agree but this gets posted anytime anyone says something about anonymous crypto payments like some magic gatchya, and Its getting really hard to believe its not in bad faith at this point.
Insert 10000 xkcd. If you see it so often, just have a text ready to copy+paste anytime anyone says something about it
I'd say I'm educated in blockchain as of ~5 years ago, and haven't paid much attention lately. Didn't know this about Monero or ZCASH and I appreciated @Fmstrat@lemmy.world 's explanation.
fyi monero hasn't had the best trackrecord on the cryptography front[1]
I am not certain if they have improved or not but I believe zcash tends to do a lot better on that front
Zcash has opt in anonymization. So it really doesn't work because any offramp can just not accept any zcash that has been obfuscated. With monero, its all obfuscated by default.
Admittedly I'm not a hardcore crytography nerd, but I know they've been improving things for years, and that message on that mailing list looked like it was 10 years old.
Not saying your wrong, but Id take it with a grain of salt. Anytime I see a newer encrypted block chain I see it and think whatever improvements have been done here, will eventually bleed into monero because of that. And that unlike the other encrypted blockchain, people will still actively be using xmr for real transactions.
You might be right, I have not followed xmr closely. You might also notice that this vulnerability is unlikely to deanonimise you, but the point was more that it is a mistake they shouldn't have made. Their last audit looks fine, though it was made by a blockchain auditing company which I don't know. I don't think there is much harm in using xmr for this, groups who would be capable of exploiting vulnerabilities in this kind of project are unlikely to do so, unless an issue of national security becomes associated somehow
I'm not sure I'd trust whatever that link is as a source that XMR isn't secure... I mean, what even is that link?
I don't know what a mullvad is, but now I want one. I HAVE CASH
also no delivery drugs. people would have to go out to get their drugs
Yeah, but now you can buy drugs online way easier.
It's non anonymous, it's pseudonymous... So, if you want to have your drugs transaction logged with an alias forever in the blockchain, go ahead...
When i used the silkroad they had a coin tumbler built into it
Bitcoin is, and even then if you send it through a tumbler it becomes difficult to track who is buying what. But most markets these days don't even accept Bitcoin, they only accept monero (xmr), which is anonymous.
that's why you make sure you don't leave PII that links to you in that transaction. Buy bitcoin with cash from your local shady dealer (of course you can buy drugs from them directly, but BTC is still good for drugs they don't carry)
And yet, looking at this phenomenal waste of resources, tech bros took a good hard look at it and said 'Hold my beer' - and made LLMs.
Llms are made by genuinely smart mathematicians and computer scientists. Techbros are just the ones hyping them .
And the main problem LLMs seek to fix is human labor getting in the way of shareholders value.
Just a little over a century ago we could get laudanum or whatever over the counter, whenever we wanted. And things were so much better.
Not ONE drug cartel, thank God we went to war, right?
The drug war actually made meth and fentanyl use inevitable, to replace heroin, cocaine, etc. If only we had stuck to the classics.
oh well. Time for my wellbutrin and duozepine and quetiapine and prazosin.
Those are the drugs I have to take daily to stop screaming, because screaming is bad now or some shit
At the very least we could ban commercial usage which would be relatively easy to do while eliminating or at least reducing a lot of the harm. I know it's rich coming from me of all people but you can do things on a scale.
There's actually one more thing that far and away is used for scams more than crypto. You wouldn't believe me if I told you. It's totally legal to own too. Crazy world.
I really really really doubt those claims. I would need sources to believe that and also the blockchain itself is not a bad idea. Theres also like a thousand different implementations of it. Its like saying every form of currencies are bad.
What, why would you doubt such obvious claims such as "the blockchain [...] weights 60 000 tons"
I seriously would like to know WTF the poster meant by that
I thought the context was obvious - in server hardware and infrastructure required to house it.
Verifying this number thought seems essentially impossible.
Tons of CO2 released into the atmosphere is a pretty standard way to measure climate impact.
I mean, the earliest modems I'm aware of were 300 bps, and in 1990 I had a modem that did 9600bps. That right there makes me question more of the claims.
I really don't care about the legal form the oligarchs give themselves, but at least the state can impose statutory requirements on banks, even if they've always been too lax.
Impose what? Have you hear about fractional reserves?
2008 financial crisis that resulted in zero accountability and tax payer bailouts for the banks?
History is plagued with examples on how banking fucked up the plebs.
Not to mention half of the world is outside the banking system.
At least Bitcoin is money with clear rules engraved in code, no bailouts and accesible for everyone.
Spot on! And diluting your income and savings by money printing and inflation.
GNU Taler is a far better decentralized payment system (although it's still in beta)
payer is anonymous, but reciever is known, so it's unsuitable for ransomware; this design is so that it is taxable and thus more suitable for everyday usage by the masses
It being taxable makes it more suitable for governments to make official, and makes it, as I said, more suitable for everyday usage by the masses
To be clear there is nothing "more" taxable about taler than crypto, it's just integrated with the traditional banking system by design while crypto is self-reported. Also since taler is a payment processor and not a currency, that tax is presumably sales tax rather than capital gains tax. I don't know if this qualifies as "better" than crypto for payments, I'd say really depends on what your use case is, but I appreciate that taler tackles the problem of paypal by simply doing open source paypal, rather than invent a whole self-sovereign currency.


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