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Author Topic: Who needs Satoshi Nakamoto principles?  (Read 1043 times)
Thekool1s
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December 16, 2019, 12:05:39 PM
 #101

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Miners are much more predictable. They will operate by profit motive. This is a feature, not a bug.

I don't know what we are arguing about, I think we are on the same page but we are viewing it from a different perspective. While we agree that miners are motivated by "Profit", this can be used to create a monopoly that's all I'm suggesting. I never said this is a bug but rather can act as a means to create something which does not ascribe to the values of decentralization. For example, Exchange X wants to monopolize itself as the only exchange where you can Buy/Sell Cryptos, it can by simply making an "agreement" with pools to not even include TXs from Exchange Y, even if Exchange Y is willing to pay the same amount of fees. That's where I see the issue is. That's where the centralization can happen. By Allowing miners to select which payment goes through and which don't, it basically facilitates the way for centralization to happen.
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flamehowk (OP)
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December 16, 2019, 12:48:31 PM
 #102

I don't know what we are arguing about, I think we are on the same page but we are viewing it from a different perspective. While we agree that miners are motivated by "Profit", this can be used to create a monopoly that's all I'm suggesting. I never said this is a bug but rather can act as a means to create something which does not ascribe to the values of decentralization. For example, Exchange X wants to monopolize itself as the only exchange where you can Buy/Sell Cryptos, it can by simply making an "agreement" with pools to not even include TXs from Exchange Y, even if Exchange Y is willing to pay the same amount of fees. That's where I see the issue is. That's where the centralization can happen. By Allowing miners to select which payment goes through and which don't, it basically facilitates the way for centralization to happen.
Today I will finish with my POW algorithm and make a proposal to restart Bitcoin. In this new implementation, I will propose fixating commissions for transactions and the problem with greedy miners will disappear.

The VenusMINE project is an open source and open hardware project to develops the most fast architecture of the ASIC for Bitcoin miners in the world!
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December 28, 2019, 06:12:07 PM
 #103

No, money prints money, but in cryptocurrency it is different. Bitcoin will always be recognized as the investor’s favorite business, the present. Bitcoin does not attract money, it creates them.
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