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Author Topic: Why Avalon's "greed" is good  (Read 2493 times)
Gator-hex
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March 22, 2013, 02:39:23 PM
 #21

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Look long-term.  What you should really hope is that miners that make insane profits, keep reinvesting to secure the network.  I will do it as long as I can.

The security of the network also relies on strength in numbers / number of distributed nodes.
With a select few nodes doing all the work it's easier to target them for DDOS, theft, government confiscation, or even drone strike.  Wink

Some might laugh, but all they need to do is label you a terrorist, Bernard von NotHaus, the creator of the Liberty Dollar was labeled as a domestic terrorist by the FBI, and arrested, $7m gold/silver backing his money seized.  Shocked

Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency

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March 22, 2013, 05:37:49 PM
 #22

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Look long-term.  What you should really hope is that miners that make insane profits, keep reinvesting to secure the network.  I will do it as long as I can.

The security of the network also relies on strength in numbers / number of distributed nodes.
With a select few nodes doing all the work it's easier to target them for DDOS, theft, government confiscation, or even drone strike.  Wink

Some might laugh, but all they need to do is label you a terrorist, Bernard von NotHaus, the creator of the Liberty Dollar was labeled as a domestic terrorist by the FBI, and arrested, $7m gold/silver backing his money seized.  Shocked

Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency


This is different it is global and decentralized already.  We are in the phase where much capital is needed to increase performance and efficiency.  If you don't see that, do some more research on ASIC and Integrated Chips and how it works.   If you take all the profit out of the network before these become really power efficient then you are actually slowing down the securing of the network.   No one can tell me that a unit that pays off ROI in under 1 year is bad for Bitcoin.   If you want in, Pool up your coins and get a unit.  I am doing it for a bunch of people.  Problem solved.   

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