https://www.youtube.com/watch?v=Qlydjg1tiso well said.
This is roughly my impression. It is sad but true. He gets a bit lost talking about the stone people but I think hes fairly correct on everything else.
While btc looks centralized it can be split up quite quickly if people are properly motivated. It isn't like the centralization in btc has a huge overhead in being broken up.
Quote from: gamey on November 18, 2014, 06:09:14 PM
This is roughly my impression. It is sad but true. He gets a bit lost talking about the stone people but I think hes fairly correct on everything else.
While btc looks centralized it can be split up quite quickly if people are properly motivated. It isn't like the centralization in btc has a huge overhead in being broken up.
Quotegets a bit lost talking about the stone people
haha +5%
It can only be broken up by moving away from sha256 mining and at best from pow at all...
Great post delulo.
+5%
Quote from: gamey on November 18, 2014, 06:09:14 PM
This is roughly my impression. It is sad but true. He gets a bit lost talking about the stone people but I think hes fairly correct on everything else.
While btc looks centralized it can be split up quite quickly if people are properly motivated. It isn't like the centralization in btc has a huge overhead in being broken up.
Yea. The miners can easily switch to other pools, if and when they wanted to.
QuoteFundemental Contradiction of the Bitcoin System
The system requires competitive mining to maintain its integrity
BUT the Bitcoin mining industry has the structure of a natural monopoly
These are incompatible
Therefore Bitcoin is unsustainable
Therefore Bitcoin must collapse