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Matt Odell @matt_odell
, 7 tweets, 3 min read Read on Twitter
EOS launch has been a complete joke, not surprised.

Classic Larimer, launch with bugs, shit incentives, and broken security assumptions.
Also, if this is true, it is absolutely hilarious. Talk about a stupid design decision.

Not only can you only get EOS by buying from an existing holder, b/c it's DPOS instead of PoW(where you can mine), but you need them to make a wallet for you. 🤦‍♂️

Oh yeah, and while we are at it. The network can confiscate your EOS if you don't make a transaction within 3 years. I'm sure they'll do a conference call before they take your money though, don't worry.

I honestly don't know where he comes up with half this shit.
Correction: Looks like they will just seize the account name, think @EOSauthority, not the actual balance.

I still think if you hold EOS for 3 years without touching it you are playing with fire. Larimer is known for breaking backwards compatibility.

Full report from EOS New York:

"The EOSIO software is designed in such a way that when an error of this type occurs the chain will pause to prevent a hard fork. All block producers were halted when they detected a break in consensus." 

medium.com/@eosnewyork/eo…
So basically their consensus system relies on conference calls...
Hey @hugohanoi, they solved the main issue with PoS systems detailed in your blog post: medium.com/@hugonguyen/pr…

All it took was Google Hangouts, can't believe you didn't think of that.
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More from @matt_odell see all

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re: ASICs > GPU

ASICs are inevitable. ASICs are your friend. Embrace them.

1. There is no such thing as an ASIC proof PoW algo. Given enough time and financial incentive someone will figure out a way to make a purpose built rig that outperforms GPUs.
2. The only practical way to keep ASICs off your network is to continuously manually change the algo, which bricks current ASICs, with the hope of discouraging future ASIC development. This comes with centralization & third party risk. Who decides when and how it changes?
3. ASICs enhance the loose game theory that backs bitcoin's security model. Attacks become much more expensive since the ASICs are useless after. GPUs can mine on other chains after an attack, ASICs cannot.
Read 8 tweets
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One of the major conflict points in this space is that US based VCs & HFs are investing in quasi-legal(to put it lightly) projects & attempting to extract an ROI. That alone makes the project vulnerable. It means there are known actors which the US gov can go after.
Key characteristics that make a protocol or app more censorship resistant (anonymous/global devs, open source. lack of central control) go directly against the idea of US based VCs & founders being able to extract an ROI. They themselves are one of the main vulnerabilities.
So they really only have one option:
(1) Deny that they & their biz model are an attack vector.
(2) Move forward without permission & hope US gov doesn't crackdown.
(3) Lobby gov for a favorable result.
(4) Comply if forced.
(5) Hope to compete against distributed alternatives.
Read 4 tweets
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18/ Spoke too soon, looks like they are moving ahead with the fork.

"As of today, all Nebulous (the company employing sia's core developers) and Obelisk employees are supportive of a fork," 

Really bad decision. Extremely shortsighted.

coindesk.com/coders-renew-e…
19/ "the Sia core team has decided to reset the Sia Proof-of-Work function to brick the Bitmain and Innosilicon hardware"

"Innosilicon is Sia’s largest miner, mining a stable 37.5% of the Sia hashrate."

Sia devs just shot themselves in the foot. 🤦‍♂️

blog.sia.tech/sia-proof-of-w…
20/ "We like to see high availability of hardware. Ideally, the best hardware in the world is available to everyone easily, and any deals that are presented by manufacturers to some group are also made available broadly."

This move will do the opposite.
Read 6 tweets

Related threads

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EOSGov: An #EOS network run by the U.S. Government.

Tell me why this wouldn't work.

@BrendanBlumer @bytemaster7 @VitalikButerin @APompliano @lopp
States would compete as Block Producers to earn block rewards.

Dept's will be created in every state from California to New York to build, upgrade, and maintain infrastructure for an EOS.IO fork.

If a state fails to produce blocks, they don't get inflation $
IRS or DMV (or a new dept) would be responsible for on-boarding new users after verifying their identity in person.

Your birth certificate, fingerprints, photo, etc. will all be on-chain.

Some of it public, but most of it private and verifiable.
Read 7 tweets
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This is the best thing on Twitter this morning. I see too many security products trying to *replace* human-to-human interaction - there’s a good chunk of security and privacy that’s about *people*.

Let’s make more products which help people STOP, collaborate, and listen 😝
Forgetting about the “people” part of security is why we’ve heard “GRC is dead” for the last 10 years. We’re on “GRC 4.0” now and it *still* sucks.

GRC tools like Archer are designed for Process and Technology but forget about the poor People who have to use that dumpster fire.
We still have new vendors trying to design single-pane-of-glass “CISO dashboards”, meanwhile *very* few security companies are truly focused on people (not just security people) inside of organizations.

@duosec is one of the few companies who has focused on people. @habitu8 too
Read 10 tweets
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PSA: If you think the #EOS launch was chaotic, wait until #TRON launches in a couple of days... I also happened to have reviewed the entire $TRX codebase.
My eyes hurt.

They should rebrand to "TRON: the Frankenstein of crypto." Learn more 👇
Justin Sun loves bashing on #Ethereum, which is hilarious, since the majority of Java-Tron's codebase is based on the EthereumJ library - one of the most buggy implementations of the Ethereum protocol. They tried to hide this, but failed: github.com/tronprotocol/j…
Unsurprisingly, the highly marketed Tron Virtual Machine is a FIFO implementation of the Ethereum Virtual Machine, which makes sense given the use of EthereumJ, but once again it was announced as an original and miraculous piece of software.
Read 6 tweets
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1/ Chinese Internet security giant 360 has found "a series of epic vulnerabilities" in the #EOS platform. Some of the bugs allow arbitrary code to be executed remotely on EOS nodes and even taking full control of the nodes.

Source (in Chinese): weibo.com/ttarticle/p/sh…
2/ According to their Weibo (Chinese Twitter), 360 reported the bugs to the EOS team. "The person in charge of the EOS network said that the EOS network will not be officially launched until these issues are fixed."
3/ 360: attacker can deploy smart contracts w/ malicious code to EOS super node, which will execute the contract and trigger a security bug. Once the contract is included in a new block, all full nodes including backup nodes, exchges, wallet nodes, are all susceptible to attack.
Read 5 tweets
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THREAD: there is no one way to be a writer, no one way to tell a story, no one way to do this thing we do as a hobby or as a job or as an art form. Some write a little every day, in an office; some write a lot at one time at varying, sporadic points. It's all okay.
I think it's important to challenge all pieces of "Known Writing Advice," all those chestnuts of Vital Lore, and to see what they are and what works for you. We all have our own weird fingerprints to imprint upon this thing we do.
I think it IS important to talk about the things you do and the processes you use to write and tell a story and to hold them up and examine them -- share them with others, and listen to their ways of doing things, too.
Read 32 tweets
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Reza Zarrab watchers: We're less than an hour away from Day 2 of testimony. On Weds., we heard of a "45 to 50 million" bribe to Turkey's economic minister and "a few billion" in complex bank transactions. Day 1 recap here, & some thoughts/updates to follow courthousenews.com/turkish-gold-t…
* ex-economic minister - I ran out of room in the tweet for additional context, even with 280 characters. Lots of revelations.
This appeared on the docket yesterday: Halkbank manager Mehmet Atilla's attorneys "object vigorously" to a future expert witness's testimony on the rationale of U.S. sanctions against Iran - replete with references to terrorism documentcloud.org/documents/4315…
Read 113 tweets

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