609 sats \ 5 replies \ @petertodd OP 21 Oct 2022 \ parent \ on: I'm Peter Todd, cryptochronomancer/web-π dev, AMA bitcoin
It failing. For any reason.
Bootstrapping a new proof-of-work currency, after the biggest one has failed, may simply be impossible. Small PoW currencies are very susceptible to 51% attacks. So if Bitcoin ever fails we may find that the bad actors of the world use force to prevent a replacement from ever having a chance.
We've probably got one shot at creating a decentralized currency for the world.
We've probably got one shot at creating a decentralized currency for the world.
What about a consensus protocol that requires both 51% of mining hardware as well as 51% of stake to attack the network and doesn’t rely on validators?
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We've probably got one shot at creating a decentralized currency for the world.
We have to pin this!
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"We've probably got one shot at creating a decentralized currency for the world."
We have to pin this, and necessarily together with this song:
;)
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My biggest fear is that it fails because a misguided dev, obsessed with adding a tail emission to bitcoin, is somehow successful.
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I am almost dumbfounded to hear a dev say something like this haha. The biggest selling point for people is 21 million. That's the ENTIRE idea haha. Tail emissions.... WTF?
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