> I'd focus on protocol not people.
The protocol encompasses the nodes on the network. If the network is highly centralized the protocol is unsafe.
Re:A from-scratch tour of Bitcoin in Python
by iamastrangeloop on Tuesday June 22, 2021 @08:57PM
(#27599414)
A scalable bitcoin ends up in a dozen data centers. The cost to set up such data centers is few hundred millions plus tens of millions in yearly operations. Miners must secure their infrastructure uptime to remain profitable. There is huge risk and little reward for any such mining company to act dishonestly on new blocks or break antitrust laws. Also it is easier for governments to audit a few large publicly traded miners than auditing thousands of small and inefficient miners. The nature of the bitcoin protocol security is economic.
You completely ignore my points so I will yours
Have a nice day
Re:A from-scratch tour of Bitcoin in Python
by iamastrangeloop on Tuesday June 22, 2021 @05:18PM
(#27597359)
Which point specifically?
You claim centralized manipulation of bitcoin and fraudulent people while the protocol hasn't changed. Do you have legal evidence?
Also you claim price speculation as the only use case while I've listed several apps with real users.
You mention storage abuse and I argue that miner fees prevent that.
Twetch.app has more than 50k users. It's also a genuine use case. So is etched.page or the other above-mentioned services.
How can you abuse storage if there is a 0.5 satoshis/byte fee to write data on chain currently? Miners are for-profit entities and will always charge for storage.