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0 sats \ 2 replies \ @Bitcoinfreedom 13 Jul 2023 \ on: Imagine Satoshi was never born. When does "Bitcoin" come into existence? bitcoin
We will be fucked forever if Satoshi was never born
Adam Back had already figured out proof-of-work, and people were repeatedly trying to make new digital currencies. Cryptography was more niche in the 90s, but well established in industry within the 2000s.
Do you mean that totalitarian government would be able to prevent a "Bitcoin" that had emerged in say 2015 from ever getting of the ground (I would not agree with that category of claim), or that to this day and forever going forward, no one would figure out the need for the difficulty adjustment?
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Difficulty adjustment was what kept proof of work relevant under Moore’s law. But when you think about it, it’s simply a negative feedback loop that already exist in all of nature and many human systems design. I would hazard to say that someone will eventually add the difficulty adjustment to proof of work because it just makes sense in a systems design perspective and it solves the Moore’s law problem. Satoshi was just the first one to do so.
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