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People forget Bitcoin ran from $800 to $20k in 2017.
This was during the dumpster fire of block wars, ETFs getting denied, shady exchanges, forever FUD on Tether.
Crypto liquidity was tiny then, not the trillion dollar oceans you see today.
Communism was not on the raise, Gov debt was not imploding globally, AIs had not constructed a panopticon.
Encrypted Bitcoin the last 1000x
Apollo retweeted
King PoS guy is telling you not to use hybrid PoS
Tons of work for winning Internet native money crown - but rolling your own consensus isn't it
Takes a decade (just like cryptography) before anyone trusts it
Many downsides to hybrid PoS that neither PoW or PoS has - worst of both worlds
Stick to what secures trillions of dollars, Nakomoto consensus
Apollo retweeted
not sure how many times I have to say this
introducing such a change like crosslink is what makes it *more* insecure, it does not increase security
and I dont care to put a random threshold for what constitutes "enough", it should always be getting more secure with each passing day and the way to do that is by using proven security and increased competition at the miner level
adding new bespoke methods that aren't sound does neither
also I do find it fascinating being lectured on latency and PoS systems as the literal number one team in crypto on low latency infra and the biggest PoS validator lol — weird how that works
Apollo retweeted
Yes Crosslink makes Zcash less secure and less private.
Increases attack surface, increases complexity, reduces security budget for miners, while compromising privacy in shielded pool
Destroys store of value and money use case. I cannot see token holders voting for this.
not sure how many times I have to say this
introducing such a change like crosslink is what makes it *more* insecure, it does not increase security
and I dont care to put a random threshold for what constitutes "enough", it should always be getting more secure with each passing day and the way to do that is by using proven security and increased competition at the miner level
adding new bespoke methods that aren't sound does neither
also I do find it fascinating being lectured on latency and PoS systems as the literal number one team in crypto on low latency infra and the biggest PoS validator lol — weird how that works
Apollo retweeted
The good news is, sentiment around Crosslink sounds extremely negative, never seen a Zcash improvement proposal this one sided.
Even more hated than 'emission smoothing', which I didn't think was possible.
Everyone hates it.
Never seen anyone actually support it who wasn't directly or indirectly connected to Shielded Labs.
Interestingly enough, both of these were conceptualized by Shielded Labs.
We're going to make it.
Apollo retweeted
Literally no one I trust supports PoS - the network couldn't stand up for 12 months
Was never explained how PoS would slash PoW
It cuts PoW security budget in half
Increases complexity on consensus algo by 10X (simplicity is father of security)
Like rolling your own crypto - very disappointed & dangerous to see Zcash foundation shilling what is no where near consensus by holders
This needs to be voted on before Zcash foundation makes irresponsible inaccurate statements
Apollo retweeted
Public debate about all things controversial is important for an ecosystem that is the future of money
@Zcash should remain neutral & foster discussions
This is a proposal, and proposals are welcome and should be surfaced and debated. Best ideas win.
This one doesn’t have the broad support needed to make a consensus change. I also don’t believe it’s good for Zcash.
Background: here is the initial rationale for considering a move to PoS by ECC back in 2021. zodl.com/should-zcash-switch…
Crosslink (then TFL) was originally intended as a first step toward that transition. zodl.com/the-trailing-finali…
When I returned to ECC as CEO, I stopped our work on it as I believed it was a distraction and wasn’t necessary for mass adoption. Shielded Labs then picked it up.
Adding a staking layer adds protocol complexity and new security assumptions. The finality gain doesn't warrant the risk. Zcash should stay on Nakamoto consensus.
Apollo retweeted
Agreed. Complexity is fragility. The core mission must stay simple: private money that scales.
This is a proposal, and proposals are welcome and should be surfaced and debated. Best ideas win.
This one doesn’t have the broad support needed to make a consensus change. I also don’t believe it’s good for Zcash.
Background: here is the initial rationale for considering a move to PoS by ECC back in 2021. zodl.com/should-zcash-switch…
Crosslink (then TFL) was originally intended as a first step toward that transition. zodl.com/the-trailing-finali…
When I returned to ECC as CEO, I stopped our work on it as I believed it was a distraction and wasn’t necessary for mass adoption. Shielded Labs then picked it up.
Adding a staking layer adds protocol complexity and new security assumptions. The finality gain doesn't warrant the risk. Zcash should stay on Nakamoto consensus.
Apollo retweeted
You not bullish enough on $ZEC
Apollo retweeted
This is a proposal, and proposals are welcome and should be surfaced and debated. Best ideas win.
This one doesn’t have the broad support needed to make a consensus change. I also don’t believe it’s good for Zcash.
Background: here is the initial rationale for considering a move to PoS by ECC back in 2021. zodl.com/should-zcash-switch…
Crosslink (then TFL) was originally intended as a first step toward that transition. zodl.com/the-trailing-finali…
When I returned to ECC as CEO, I stopped our work on it as I believed it was a distraction and wasn’t necessary for mass adoption. Shielded Labs then picked it up.
Adding a staking layer adds protocol complexity and new security assumptions. The finality gain doesn't warrant the risk. Zcash should stay on Nakamoto consensus.
Hardware wallets are dead.
KYC, honey pots for supply chain attacks and hackers, target for customs agents etc…
Remote signers on air gapped commodity hardware are the future.
We owe you an apology.
On October 20, we detected unauthorized access to our official website. After verifying API activity with Shopify, we confirmed on October 23 that a third party obtained customer shipping information. You trusted us with those details, and we're sorry we didn't keep them safe.
Exposed: names, contact details, shipping addresses, and order details (items and prices).
Not exposed: payment card or bank details, recovery phrases, private keys, or wallet passwords.
We've blocked access, fixed the vulnerability, opened an investigation, and are emailing affected customers.
Scammers may pose as Keystone by phone, text, email, or mail, offering refunds, replacement devices, or "fixes" for your order or address. None of it is from us.
NEVER share your recovery phrase or private keys, and NEVER enter your recovery phrase into a device you didn't order. We will never ask for them. Don't click links in unexpected messages. Type keyst.one yourself.
A detailed report is coming soon.
Until then, trust only our official channels. If anything feels off, email [email protected]. We'd rather hear from you than have you take a chance.
Again, we're truly sorry to everyone affected.
Apollo retweeted
Right when the world is finally embracing hard money built through consuming energy, why would you throw that all away for a rube goldberg machine that
1) takes two complicated things and attaches them in a novel way, with no idea if it works or its purported benefits
2) lacks the lindy property of the thing that already works (that gives soundness to the money in the first place)
3) may have introduce novel bugs that reduce the security of the system in unexpected ways
Not trying to be a luddite on progress, but PoW is the one thing we know results in hard money. Energy consumed, processed, stored.