--- Log opened Sat Jul 21 00:00:17 2018
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08:53 < Kaizen_> Anyone here atm?
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11:45 < grzs> wizards be lurkin
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15:02 < gmaxwell> BCT so sad to see you go,  https://bitcointalk.org/index.php?topic=4438334.0  some six pages of discussion, and AFAICT no one pointing out that the idea is totally broken or that things like it have been suggested by many people before.
15:04 < gmaxwell> (broken, because variance is a _necessary_ feature of POW consensus, because it's what allows the network to converge; and because the scheme is broken by strategic large miners that don't share their work)
15:11 < spinza> that guy is positing 3 out of 4 posts in the thread he started.  and answering with walls of text
15:12 < gmaxwell> yup. I looked at his posting history, and he showed up in 2016 pumping scammer dundee == satoshi too. :-/  yet people are replying.
15:15 < spinza> "This is a radical improvement to classical PoW, I admit, but the costs involved are fair for the huge impacts and benefits. I have reviewed the bitcoin Core's code and found it totally feasible and practical form the sole programming perspective."
15:16 < spinza> Don't worry he's thought of everything :)
15:16 < gmaxwell> to save people reading, he's proposing using low-variance hashcash, along the lines of "mine at whatever difficulty you want, and a block has to have total work over a threshold, and share your partial work with others"
15:17 < gmaxwell> with no special logic to try to address the immediate problems that come up.
15:18 < gmaxwell> And I think with the constants in his proposal you'd end up with ~1/1000th the variance (reorg lol)
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