4:40 In fact it can withstand 51% attacks. So it can withstand attacks even higher than 51%. Without liveness, but it won’t lead to safety failures at that level.
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04:19 You and I don’t have to agree on who’s on the system, yeah of course we have to agree to, to some level, but we don’t have to precisely agree.
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04:04 There is no mining, you and I or anybody else could come in and they could become the Jihan Wu of, of this new system that we’re building.
Different people has different reason to enter cryptocurrency mining.
What is your goal or behaviour in mining cryptocurrencies? You want to accumulate:
Fiat, exchanged from cryptocurrencies mined
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BTC (solely or mainly) for HODLing, exchanged from cryptocurrencies mined
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ETH (solely or mainly) for HODLing, exchanged from cryptocurrencies mined
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Each respective cryptocurrency for HODLing (exchanged only as needed to cover costs)
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Each respective cryptocurrency for trading (compounded portfolio actively traded for gains, not HODLing)
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Mining just for the sake of mining; I'm just enthusiastic of cryptocurrencies or mining, but I don't know what I want to do with the accumulated cryptocurrencies