Quote from: chrysophylax on August 30, 2018, 05:34:00 PM

Quote from: QueenOfCrypto on August 30, 2018, 12:49:18 PM

Quote from: coldstorage on August 29, 2018, 02:38:09 AM

Quote from: QueenOfCrypto on August 28, 2018, 08:37:36 PM

My only regret is not to have more cash to throw into altcoins (and of course EMC2 first of all) during this atrocious bear market. Everying's on sale everywhere, but still you need money to buy

Yup. I scratched together as much as I could, but at these levels, nothing is ever enough. People are crazy. The people selling in december had their heads on straight. The people selling in August are going to be kicking themselves. Even modestly successful coins have so much room to run. Forget trying to beat bitcoin. If a coin can corner a niche and capture a local market (could be geographically local, but could also be localized to interest, use etc), it doesn't need to beat anything, particularly with lightning atomic swaps in tow for easy cross chain interaction.

I'd love to see Einsteinium not as a general purpose currency first (though it could still function that way too), but as a platform for science crowdfunding (a la indiegogo) and edutainment (blockchain based games and other dapps focusing on scientific themes). Lightning is a great start, both to make it easy for other cryptocurrency users to support science/have fun on our chain, but also to allow easy scaling of smart contracts that would otherwise easily bring congestion. If the right smart contract platform got attached, it could really be a big deal.

Additionally, PoS might be better than attempting to outrace the asic manufacturers who always catch up to any algorithm that becomes popular enough, and might pair better with smart contracts anyway. But with lightning, it might not matter. I do hate to see energy devoted to asic resistance when it appears to be a futile endeavour.

I agree on all your point. Einsteinium has been moving slowly all these years, but always in the right direction, and I think one day it will fully serve its core reason to be - platform for science crowdfunding and more in this same area. As for the PoS, my guess is that sooner or later the whole crypto world will eventually be forced to move to that, since it is so much more echological and decentralised.

Agreed ...

At least with the sentiment that EMC2 is a slow mover, but slow is good in the sense that methodical changes over time is a more solid foundation to build upon.

PoS. That is where you are wrong. Each of the modes of chain/block hash (PoW/PoS/etc) have their pros and cons, but together seem to form a robust method of verification of work. As a hybrid system, it is WAY more robust than a singular mode of verification, but still needs to be looked at with a very skeptical eye anyway. PoS is found to be just as (de)centralized as PoW is in terms of attacks on the network, and the more you gain coin, the more control you have in a PoS environment. Similarly to the PoW method with hash power, as we have seen with the headaches caused by the WormHole issues of massive hash emanating from only a few sources, not too long ago.

The ideal that one is going to overcome the other in time is a false ideal, as there has never been, and still to this day, not just ONE method of verification of transactions that trumps the others.

Ecologically though, even PoW has it's benefits for the ecology, as we (CWI) have been designing and developing with solar systems/batteries//farms. So when EMC2 grows to a level of operable stability in the network that is unprecedented in it's history, this will be the time that growth and increased development happens also. To move to PoS only would be a very big mistake, even though other coins have. The issues present in the weaknesses inherent in PoS will cause more grief than good in VERY large networks, which EMC2 seems in becoming.

There are MANY technical papers regarding PoS and it's vulnerabilities, a google search will list them.

As for lightning, this is the start of a fresh new era for EMC2, regardless of what FUD and crap will get spread about this. Still in it's infancy, and more productive than most systems out there today, this tech will be a force to be reckoned with when it becomes a mature piece of technology, even on it's own let alone integrated with a project like EMC2 Wink

#crysx

You are making some good points here. I generally would agree with them.