Monday , January 27 2020
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Monday assorted links

Summary:
1. More on Magnus Carlsen and fantasy football.  And his explanatory tweet. 2. Hard to believe this NYT defense of Cattelan and the banana (and written as one who loves Duchamp).  I genuinely do not think it is parody. 3. “This suggests that permissioned [blockchain] networks will not be able to economize on costs relative to permissionless networks.” 4. “Counting taxes & transfers, the full-income Poverty Rate based on LBJ’s standards fell from 19.5% in 1963 to 2.3% today” 5. Has America forgotten how to make H-bombs? Addendum: See Vitalik in the comments on #3: I read the article; very unconvinced. The key part is the bottom of page 11 where the article reveals its model for how costly attacks on proof of stake systems are. The paper seems to think that in a proof of stake system, you

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1. More on Magnus Carlsen and fantasy football.  And his explanatory tweet.

2. Hard to believe this NYT defense of Cattelan and the banana (and written as one who loves Duchamp).  I genuinely do not think it is parody.

3. “This suggests that permissioned [blockchain] networks will not be able to economize on costs relative to permissionless networks.

4. “Counting taxes & transfers, the full-income Poverty Rate based on LBJ’s standards fell from 19.5% in 1963 to 2.3% today

5. Has America forgotten how to make H-bombs?

Addendum: See Vitalik in the comments on #3:

I read the article; very unconvinced. The key part is the bottom of page 11 where the article reveals its model for how costly attacks on proof of stake systems are. The paper seems to think that in a proof of stake system, you win by having a longer chain than the other chains, and slashing is only there to prevent literal double-signing. This completely ignores the entire set of recent developments in PoS literature around Tendermint, Casper CBC, Casper FFG, etc, which are the entire basis for claims about PoS’s greater security. These newer protocols use a form of slashing where it is provably impossible to revert a finalized block without slashing 1/3 of the validator set, so an attacker loses not just interest but also principal.

The section on permissioned chains completely fails to model the reputational losses (and possible legal consequences) that would be incurred by nodes on the chain if they misbehave.

The post Monday assorted links appeared first on Marginal REVOLUTION.

Tyler Cowen
Tyler Cowen is an American economist, academic, and writer. He occupies the Holbert C. Harris Chair of economics as a professor at George Mason University and is co-author, with Alex Tabarrok, of the popular economics blog Marginal Revolution. Cowen and Tabarrok have also ventured into online education by starting Marginal Revolution University. He currently writes the "Economic Scene" column for the New York Times, and he also writes for such publications as The New Republic, the Wall Street Journal, Forbes, Newsweek, and the Wilson Quarterly.

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