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Author Topic: Principles I discover/thought of  (Read 1113 times)
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December 06, 2010, 01:24:01 PM

These the are principles that I discovered/believed govern...bitcoin.

1. Certainty rule. It is better to have have predictable simple rules over complicated and uncertain rules that can be gamed or justified away. Human judges are worse than computer programs since they can be bribed, feel with irrational emotions, and prone to logical reasoning failure. Algorithms have no hidden feeling, especially when we can inspect it.

2. Least Violence.

Incentive structure should be devised to keep scammer and baddies in check. However, we won't raise hell to confiscate bitcoins and other goodies. People don't die in bitcoin transactions.

If we raise hell, we have a court system, which violated the Certainty rule. Then we must have police force to take down the scammer and confiscate his bitcoins/goodies. That send a strong signal to bitcoiners to be reckless and careless with their money because they can alway use force to get it back. That's bad for the rule of law.

Your thoughts?

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