pull down to refresh

Do you think there is a flaw in Bitcoin?
374 sats \ 11 comments \ @wackster 2h AskSN
Does the protocol inevitably lead to miner centralization? Does Bitcoin rely on widespread node-running and key holding in a world where not that many people will actually do it?
write
preview
related posts
100 sats \ 2 replies \ @sancristrader 1h
The biggest flaw was to make PoW non ASIC/GPU resistant. And also lack the ability to solo mine partial blocks somehow
reply
0 sats \ 1 reply \ @wackster OP 45m
By mining partial blocks wouldn't we just end up with shorter block times?
reply
0 sats \ 0 replies \ @sancristrader 35m
No, it would have to do somehow with partitioning or parallelizing mining of a single block
reply
100 sats \ 1 reply \ @Aeneas 1h
Yes, it's in the hands of the people, and the people are stupid, gullible, credulous, greedy, lazy, and apathetic as long as NGU abides.
But I don't think that's as fatal of a flaw as others, since I also believe in Providence guiding the general retardation toward the good. Call it a superstition!
reply
0 sats \ 0 replies \ @wackster OP 46m
Providence guiding the general retardation toward the good
is a marvelous phrase. thank you.
reply
100 sats \ 1 reply \ @grayruby 1h
Is it a flaw in Bitcoin or a flaw in people?
reply
0 sats \ 0 replies \ @wackster OP 47m
Bitcoin. at the end of the day, Bitcoin's security does rest on people and people are flawed, so it's less interesting to address the flaw of being reliant on people. but I'd be curious to hear your case if that's where you want to take it.
reply
100 sats \ 2 replies \ @denlillaapan 1h
yes
reply
0 sats \ 1 reply \ @wackster OP 48m
but what issssss it? we must know.
reply
0 sats \ 0 replies \ @denlillaapan 45m
nooooobody knows.
  • scalability
  • ...and the related in-fighting because of it
  • dysfunctional cycle/timing (why is it underperforming when gold is taking over the world and money printing is on?)
In the protocol itself? No, it's ingenuous
reply
0 sats \ 0 replies \ @justin_shocknet 22m
Mining centralization is at spooky levels, but that's a market condition that is transient and already healing by the day.
Distribution is a concern, but not critical. That's a reflection of the real world economy, so again market driven, not technical.
Culture/incentives are probably the biggest risk, there's very few principled people that have the ability to do principled things. Fortunately, bitcoin's technical design is literally built to mitigate that cultural/incentive risk. Every time a script kiddie or NGO wants to change Bitcoin I appreciate it for what it is even more.
#1296172
reply