PoW - an obvious, but rarely articulated analogy

[meowmeowbrowncow]

I rarely create new threads with little substance, but I had to mention this.


When countering the 'energy usage' argument with someone that does not know about the specifics of Bitcoin I attempted to describe the importance of PoW.


I said one of the major premise of Bitcoin is that PoW provides a relatively predictable way to defend against a majority group or entity that would take control of Bitcoin.


I did a mental double take on the associations of that statement.  And that was:


Representative Democracy.  The grand bargain.


Does Bitcoin share in the spirit of the fundamentals in which the US was created?  (this is not a libertarian plug.  Just an observation)


Maybe this is the start of a bona fide money revolution?  Bitcoin spangled banner, anyone?

[1714264153]

1714264153

[Mylon]

sshhhhhh, don't let the other people know!

[Impaler]

Yes indeed it is the spirit the US was founded under.

THAT THE LANDED ELITE WOULD BE THE ONLY ONES ENFRANCHISED!

[DeathAndTaxes]

Simple answer ... no.

Miners can't change the rules of the system.  They can only validate or ignore transactions.  Bitcoin requires a consensus at all times.  Miner's can't choose the potential choices they can only force the network to a consensus on the status of coin ownership between existing choices (created by coin owners).  There is almost no connection to a democracy.  If Bitcoin was a democracy it likely would have failed already.

[Red]

I said one of the major premise of Bitcoin is that PoW provides a relatively predictable way to defend against a majority group or entity that would take control of Bitcoin.

Philosophically, that used to be true at the beginning.
Right now all of the proof-of-work effort has much less effect than you imagine.
Shhhhh! Don't tell anyone! They'll be very disappointed!