The cost of a 51% attack

This awesome site has made the calculations:

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EOS – 21 Kings

EOS is trying to place itself somewhere between centralised (Ripple) and decentralised (Bitcoin). The reason is obvious; performance. Centralised networks can be made much faster, but they still want to give a nod to decentralisation – a key tenet of cryptocurrency networks. I don’t think you can be both, either you are decentralised or you ain’t, there is no such thing as half-decentralised. If a central body *can* exert control, sooner or later it *will* exert control. In the case of EOS it took just one week post go-live for that to happen.


EOS again

As another tweeter pointed out: the kind of people that can find these kind of bugs at this late stage probably won’t do it for $10K, either they are academics and will do it for free, or they will wait and use the exploit to make real money.

In any case, EOS goes live 2nd June.

Tommy Robinson / the Secret Barrister

If you didn’t know, the British state is once again going after Tommy Robinson, he’s been given a 13 month custodial sentence. This is a man who is harassed night and day by the police, including knocks on the door at 4am in the morning, and harangued while he is doing nothing more than sitting eating with his family in a public restaurant. Don’t believe me? Just look on YouTube.

I want to respond to a blog post by someone calling themselves “the secret barrister” The Secret Barrister this man (and it certainly is a man) is the kind who can tell you all the facts, yet entirely miss the point. His myopic opining is delivered with sneering contempt, the same kind of contempt that Remainers demonstrated during the referendum, and many still do now.

His argument is 100% correct, *if and only if* you live in a totally isolated bubble. It’s a bit like a man who built his house on a beach, he has a floor, walls, a roof; he has a house he thinks. The man is shouting to everyone about his house, he is proud, arrogant even. But the idiot hasn’t noticed he’s on a beach. The house is sitting on sand.

Sometimes you can only see the flaw from outside the bubble. That’s what I’m here for, but I’ll get to the nub of the argument later, for now lets take his article chunk by chunk.

“It can now be reported that Tommy Robinson, the former leader of the English Defence League, convicted fraudster sometime-football hooligan and self-reinvented free speech advocate, was on Friday 25 May 2018 imprisoned for 13 months for contempt of court after livestreaming footage of participants in a criminal trial outside Leeds Crown Court.

Some people will have seen reference to this on social media; others may have had the plight of Stephen Yaxley-Lennon – to use his real name […]”

And you sir are a lawyer. You do know what the general public think of lawyers, don’t you? Also Tommy Robinson has balls, great big ones. He doesn’t carry on in secret, he speaks publicly, he does not hide. How about YOU use your real name? The self-delusion is oozing. Mirror mirror on the wall, who is the fairest of them all? Honey, it isn’t you.

“knuckle-dragging cheerleaders … racists-in-arms … Nazi-themed march… deranged followers”

Mirror mirror on the wall, who is the fairest of them all? Oh, you meant fairest as in objectivity; yeah, that isn’t you either.

What we have next is 10 excruciatingly tedious explanations of English law. Highlights:

under section 4(2) of the Contempt of Court Act 1981… Howell [1982] Q.B. 416… strict liability contempt… Criminal Justice Act 1925… bla bla bla.

This is what I mean by it all makes sense inside the bubble. Every eye dotted, every tea crossed.

The entirety of the argument however is laughable. The idea that a Facebook live stream is going to change a juror’s mind (if they were even to see it), is almost as stupid as the people claiming Russian Facebook ads got Trump elected. This same nonsense was rolled out back in 2012, when it was claimed that a tweet by Nick Griffin almost caused a trial to collapse.

Do not buy this hogwash. This has NOTHING to do with the sanctity of the criminal justice system and EVERYTHING to do with the government wanting certain things to have the lowest possible profile.

Rochdale had about 1,500 victims. This by itself should be huge, but this is only one town, why has the media been so quiet? Newcastle? Telford? Hardly a mention. We know why, the inconvenient truth: 80%+ “Asian”. (damn those Cantonese).

Compare the media reaction to when Cliff Richard was (falsely) accused of being a pedophile – the BBC literally raced the police to his house to see who would get there first.

People have been warning about grooming gangs from at least 2001. Huge, large scale, wide spread, violent, life destroying abuse of young girls. Government action; almost non existent; there was even some collusion with the council and police. Press coverage; minimal. Wouldn’t want 1000s of working class girls’ futures to get in the way of the multicultural dream.

But when it comes to Tommy Robinson live streaming, suddenly WE ARE A NATION OF LAWS don’t ya know.

Let me take you outside your bubble, and tell you something about the “laws” you are so fond of quoting, and the “justice system” you swim in…

These things are social constructs.

This is really just a man in a silly hat:

Image result for Geoffrey C Marson

In the courtroom, above the man with the silly hat (he sits on a kind of throne), you will see a picture, it looks like this:


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The Secret Barrister could probably tell you all about this image, it’s history, pedigree, and even a translation of the funny writing; but a child would make the more salient observation – unicorns don’t exist.

Laws are temporary, social constructs, nothing more – ask Hammurabi.

If enough people change their mind on a social construct it’s worthless – ask anyone holding Zimbabwean dollars.

With all your knowledge, you are not as smart as you think you are, not even half.

Forget the longwinded legal arguments. Your rulings, case law, magical unicorns and men in funny hats, all this only works because of buy-in. How much buy-in do you need to lose before these kind of institutions are Zimbabwean dollars? not much. If you doubt that consider recent Northern Ireland, effectively rendered ungovernable, so much that lines were painted on houses at 6′ so the locals could line up their rifles to shoots the kings men in the head. How many were shooting? very few, but the consensus nodded them along. It because obvious at the referendum that the British establishment is rapidly losing buy-in, this is a continuation of the same. Your sneering, contemptuous delivery of legal points totally misses what is going on.


EOS 2nd June – Day of Reckoning

Dan Larimer, loud mouth and egotist, extraordinary is on stage in just a few days. EOS mainnet will be live 2nd June, this watershed has been hyped to the max, so it had better. Shortly thereafter the 21 block producers will be elected by holder vote. EOS will be a live decentralised smart contracts platform.

WARNING: If you are an ERC20 holder, you must have registered your tokens by 1st June, or hold them on an exchange that will execute conversion on your behalf.

The interesting thing about EOS is that they are rolling the whole thing out in one hit, from ERC20 to fully decentralised Proof-of-Stake SC platform. This is a first. Ethereum and Cardano are both taking a stepwise approach. Ethereum moving at a snails pace as they umm and ahh with Casper. Cardano with their lengthy and detailed roadmap.

One consequence of this, is that we don’t have a history to go on; will it work? Sure Larimer has had success with Steemit and Bitshares, but this is bigger. Personally I’m highly doubtful it can go without a hitch – but that is not the question – the question is, will the hitch be fatal. Personally, I won’t buy EOS until mainnet is live and the block producers are elected; however, judging by token price, I am in the minority.

Google traffic for Crypto

What do Google searches for Ethereum tell us? I’m working on a write up of the implications of Google trends data on crypto prices and *I need your help* In the past year, analysts and traders have grown accustomed to a looking for insight into crypto price movements based on Google trends reporting of search […]

via What do Google searches for Ethereum tell us? — Ethereum & CryptoCurrency Blogging

Crypto blood bath finished?

It’s been painful, I think we’ve turned the corner. Some guys are saying “dead cat bounce”, could be but I don’t think, I think it’s up from now on.

My holdings are mainly ETH and ADA with a not inconsiderable smattering of other Alt-coins and ICOs. Right now (22nd March 2018 7:52AM GMT) on my CoinMarketCap app ETH is $565, ADA is $0.21.

Yeah, I’m in the UK but I still value everything in $, not £ or “satoshis”.

So my average price on ETH is $300, still up on that. ADA, not so much. Average price $0.37. I got into ADA a little too late I guess, the upswing was already underway, early buys in Dec/Jan around $0.60 and $0.90, those are looking very foolish in hindsight. I averaged down a little. ETH on the other hand was a Sep 2017 purchase, before the gold rush started.

Overall I’m pretty much even, hoping for some positive market movements – it’s been a while.