Vitalik Buterin Does It Again!!!
image from Vitalik's original post
Just few minutes ago Vitalik shared on Twitter his latest blog post on the topic of "Coordination, Good and Bad". It is a long, detailed and interesting post. Everybody who is curious about blockchain and game theory around it should definitely read it. I am writing this to share the post, not necessarily to share my thoughts on it. This topic is above my pay grade. Here is the link to the post:
https://vitalik.ca/general/2020/09/11/coordination.html
I am pretty sure Hive community will welcome once again, Vitalik's use of Hive and its struggles against Steem hostile takeover as an example making his case for decentralized systems. Here is a quote from his post:
If a system gets taken over by a harmful coalition, the dissidents can come together and create an alternative version of the system, which has (mostly) the same rules except that it removes the power of the attacking coalition to control the system. Forking is very easy in an open-source software context; the main challenge in creating a successful fork is usually gathering the legitimacy (game-theoretically viewed as a form of "common knowledge") needed to get all those who disagree with the main coalition's direction to follow along with you.
This is not just theory; it has been accomplished successfully, most notably in the Steem community's rebellion against a hostile takeover attempt, leading to a new blockchain called Hive in which the original antagonists have no power.
I hope you will find it interesting. Also, if you are on twitter, see if you can show some gratitude for Vitalik's continuous support and creating more awareness about Hive.
https://twitter.com/VitalikButerin/status/1304622748585488384?s=20
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I'm glad he backed up his writeup using hive as an example, it's been more than successful since the fork and I see that he's been a sole supporter of hive on twitter as well. Truthfully it gives bus some publicity and I'll Keep trusting him to continue giving us the publicity. Hopefully one day, he can come in himself.
Yes, his interest in Hive has been amazing. It was an interesting read.
Sunny boy and original antagonists have had millions of steem on exchanges in the time of hive airdrop.
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That is true. But I doubt those would be sufficient to take over Hive as well.
I do wonder sometimes if they're not secretly hoarding it to have another go at some point in the future!
If they did price would go crazy high. We would welcome that. :)
Don't you remember how badly the price gap was between Binance and the other exchanges when Binance opened the floodgates? He dumped so many coins without even caring about creating those arbitrage opportunities. Even if he has millions left over he is way too afraid to take them out of the exchange accounts and power them up, and for good reason.
It sounds like an interesting article. I'll check it out. It is kind of cool how the Steem - Hive story is being used to demonstrate the point. On multiple occasions as well. I think that shows how historical an event that was within the realm of blockchain and crypto. I think it will go down in history and be remembered along side some of the interesting and cool bitcoin milestones and events.
Yes, exactly. I felt the same way.
V always gets a lot of stick, I really respect him, his always also open to learning and being wrong. The only reason we can see the collusion and fight back is because we have these chains, in other systems its allowed to happen without it, so this alone is now how we keep people in line, since it hurts them financially to not act accordingly
He is probably one of the most honest and intelligent leaders in the crypto space.
Hi geekgirl! I am new in the hive world and i love your Account! I am interested in your opinion about the repercussion of the HardFork 24 in the hive coin. Thanks very much!
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Hi Erick! Welcome to Hive. I am not a blockchain expert. Only thing I can say about HF-24 is that devs have done some impressive work.
For details on HF-24 I would suggest looking at the latests posts by @hiveio and @blocktrades.
If you have any specific questions feel free to ask.
Thanks for answer me! I will look the info You give me!
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