Kristy-Leigh Minehan "Fireside Chat" Quote Extraction [YouTube Video]
Link to the video = https://www.youtube.com/watch?v=Dddc9r-xyN4
“I’m a little concerned about what’s going to happen once Ethereum hits Proof of Stake and all of these GPUs are dumped”
“No one’s paying attention to ProgPow…Everyone’s sort of given up on it…I’m really disappointed in the developer community as a whole. That everyone’s…no one wants to help with the implementation. Including the Ethereum developers or the ZCash developers…or…People just don’t want to help with…they’ve sort of just given up on ASIC resistance…or in this case..centralized mining resistance. They’re just like [shrugs] ‘Meh, we’ve tried’, we’ll stick with [unintelligible]”
Immediately after, ‘BBT Carter’ (interviewer/host) chimes in to let Kristy-Leigh know that she put up a valiant effort in attempting to get the Ethereum team to accept ProgPoW.
Claims that he had attempted to contact Vitalik Buterin several times to get his opinion on the issue, but he had essentially received no response/run-around answers from Vitalik Buterin that didn’t definitively address ProgPoW or the topic of switching mining consensus algos for Ethereum.
Kristy-Leigh then asks if the host/interviewer has any more questions about ProgPoW in general [43:20]. The interviewer asks if there are any coins/projects that have decided to move forward with ProgPoW and Kristy responds with, ‘Bitcoin Interest’ - which is a fork of Bitcoin that launched last year (notably the only coin that is running ProgPoW currently).
Kristy then states, “Ubiq reached out to me and was looking to adopt it” [43:30]. She follows this statement by saying, “It seems they’re not going to adopt it, they’re going to adopt a modified ethash, which I think is a bad move on their part.”
[Host rambles about something meaningless]
“If someone says that they’re ASIC-resistant or that they’ve made an FPGA-resistant algorithm, I’m going to come and terrorize your coin. And if I don’t do it then someone else in ‘OhGodACompany’ will do it and I’m going to support them. And that’s because you’re…misleading people and I don’t necessarily support that.”
-Timestamp [44:25] above ^
Kristy-Leigh Minehan then segways back to ‘Bitcoin Interest’ (forked Bitcoin project) to reassert that they have decided to adopt ProgPoW.
The following dialogue from Kristy ensues:
“These smaller coins are looking to adopt it”
“But…those aren’t the ones that are at risk…of centralized entities…Let’s be honest, Bitmain…They’re not really at risk of being attacked”
Kristy goes on to state that Bitmain is a threat (attack vector; implying >51% threat)
Mentions ‘NiceHash’ tried to hire her a few times
Kristy-Leigh Minehan speaks on Proof of Stake:
“I don’t dislike Proof of Stake. I don’t believe that Ethereum’s Proof of Stake model is the end-all, be -all. Somebody introduced me to Algorand which is a fantastic Proof of Stake model…that actually works.”
“I think that Proof of _S_take does solve a few of the problems that we currently have with Proof of Work”
“I still believe that the best model for a decentralized model is…a hybrid Proof of Stake, a hybrid Proof of Work”
(implying some sort of 50/50 mix)
Mentions the weaknesses of other consensus algo - speaks somewhat favorably about ‘Proof of Useful Work’
Speaks on the, ‘Floating point mass’ = “So floating point mass in a GPU…it actually uses a lot of the Core.”
Mentions graphics pipeline and how she’s working on ‘miners being incentivized’ to use it.
Timestamp [56:20] -
KLM States Masternodes are Ponzis (actually a true statement)
Interviewer/host asks KLM about $ETC and whether the developers/community had been receptive to ProgPoW in that community at all. Before she answers this question, he follows up by stating that he had personally reached out to the ETC Core Dev team to get their feedback/opinions on ProgPoW
Below are quotes from what the host said, specifically:
“I do have some contacts on LinkedIn with that…I didn’t get…I mean short of just submitting what you had submitted to them…I haven’t got anything back from them..but I also haven’t pressed”
“I don’t know if you’ve had any sort of interaction with the Ethereum Classic folks[?]”
“Ethereum Classic? No…Um…No, I haven’t had any interaction with developers. If they happen to reach out and want to protect their coin, I’m more than happy to facilitate that and help get ProgPoW implemented into $ETC.”
“Regarding Ethereum itself, I think they’re generally disinterested. They’ve looked it up…its cool. But its gonna slow down…rolling Casper. So they don’t really want to…look into it. If we had enough..um..hands…we’d be able to finish…I mean…the problem with Ethereum is right now we’re struggling with the clients. There’s a lot of things we have to do and we’re also a very small team and also currently involved in a ton of other things. So we have to do the..um…ten different clients, each with their own language and each with their own set of rules. We have to make sure that um…cross training between coins works…There’s a huge stack of things that we have to make sure are up to snuff before we can say…‘Okay Ethereum, now’s the time to adopt’ … Sadly, because its still just us working on it…The identity..or group of identities that are ‘ifdefelse’, its probably not going to be done before we see Casper, at least. Maybe Ethereum will just cut out the fork entirely.”
Timestamp [58:50 continuing]
Interviewer/host speaks about other ecosystem changes that Ethereum has planned on their roadmap. He mentions the fact that they’re planning to greatly reduce the mining reward.
Kristy-Leigh responds by saying:
“Its really problematic what they’re doing…We touch on this in our Medium article…oh my um…on uh…[OhGodAGirl]”
She continues by saying:
“It will only remain profitable for ASIC miners to remain on the network. GPU miners…they’re going to push all these GPU miners off the network with this…falling rewards scheme.”
[59:40 is when this statement concludes]
“Oh, they’re going to do Proof of Stake…I just think…maybe…this is a real threat…they’re going to do away with the hybrid model entirely. Let’s just transition fully into Proof of Stake entirely.”
“And that’s…troubling to me…because Ethereum is now an enterprise-level blockchain. You don’t go do experiments on enterprise-level blockchains”
[1:00:50 when this statement concludes]
Mentions ‘Walton’ miner. Claims it was originally developed for a private company and that she’s looking to release it publicly.
Claims that she needs the ‘okay’ from whatever company has the IP for this miner in order to sell it.
“As soon as we launched Mineority, we launched an internal statement …we’re not working for any private companies.”