Vote, or your blockchain dies!
On-chain voting should probably be refocused exclusively towards a veto signalling system where the only possible vote would be no.
— Paul (@paul_btc) September 12, 2018
Solves apathy, and for controversial changes that issue is not there. Devs take decisions, hodlers veto acceptance. Measuring non-consensus is easy
This tweet makes an interesting proposal for on-chain voting. On-chain governance is one of the oldest debates in cryptocurrency space. One of the main criticisms is low voter participation. See the paragraph from Vitalik's article below:
This is a valid concern for projects implementing on-chain governance. Even voting in real life is often plagued with low voter participation, where the stakes are arguable higher. Does negating consensus fully solve the apathy issue? What if a highly destructive proposal manages to slip through before enough voters show up to negate it?
While there may not be a perfect solution, these conversations are healthy for the process of iterating on highly abstract governance models. Governance is hard to measure because it doesn't have a timely feedback mechanism. Good governance may be in place for a long time before people recognize its value, whereas holes in the framework are spotted right away.
This is the fundamental challenge of coming up with precise metrics to evaluate approaches to governance in cryptocurrency; it's also why it's worth discussing the edge cases.
Technical Updates
Decred's Marco discusses open-source attribution
Decred's @marco_peereboom discusses btcd, Open-source attribution and the power structures of Bitcoin Core with @derose. pic.twitter.com/Vtxr6ZqEdb
— Mike In Space (@mikeinspace) September 13, 2018
How open-source projects fund themselves
One way to view #blockchains is as very effective vehicles for funding #opensource software development. When a #cryptocurrency project has a built in funding mechanism, that is in a sense open source software that can autonomously fund its own development. /1
— Richard Red (@RichardRed0x) September 12, 2018
TSMC dominating the market of advanced tech nodes
This year TSMC will be shipping 100s of millions of #7nm chips with a cell-level density > 2.5x that of Intel's 14nm, comparable to Intel's #10nm. In terms of density - the only metric Intel's marketing cared about until recently - Intel is now 2 years behind.
— David Schor (@david_schor) September 12, 2018
News & Commentary
Cryptocurrency exchange OKCoin expands to 20 more U.S. states
(CCN, by Josiah Wilmoth)
"Now headquartered in San Francisco, OKCoin’s U.S. offshoot announced on Wednesday that it has received regulatory approval to expand into 20 new states, greatly expanding its reach into one of the world’s largest crypto markets."
"Like many international exchanges this year, OKEx has pursued an aggressive expansion policy, in July signing a deal with the Malta Stock Exchange to launch a tokenized securities platform."
"With the installation of the 16 BlockBoxes, it now increases the virtual currency mining firm’s capacity to 19.2MW. Not to mention that BlockBoxes will effectively add 144PHs-1 (Petahashes per second) to the mining rig. Well, the addition of these BlockBoxes will leave the mining rig with a total operating capacity of 85.9MWs. Indeed, that power represents about 632PHs-1 of operating capacity."
JUST IN: Crypto project Carbon has launched its own ethereum-based, dollar-pegged stablecoin dubbed CarbonUSD. https://t.co/iNTw8jBz9Q
— CoinDesk (@coindesk) September 12, 2018
Credit spread at record low while Fed tightens
This absurdity in credit markets shows what the top of the business cycle looks like:
— Otavio (Tavi) Costa (@TaviCosta) September 12, 2018
Corporate debt at extreme levels, Fed in tightening mode, but credit spreads near record lows. This is perhaps the greatest highlight from Jeff Gundlach’s presentation yesterday. pic.twitter.com/X4YegQEW16
Bridgewater founder Ray Dalio fears U.S. Dollar may lose its dominance
Ray Dalio spells out America’s worst nightmare. The idea that the U.S. dollar would lose its status as the world’s reserve currency is an existential threat https://t.co/J9A3d0MyY8 pic.twitter.com/Gjw4LZYT8B
— Bloomberg Opinion (@bopinion) September 12, 2018