Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
brg444
on 03/09/2015, 08:04:54 UTC
Bitcoin has evolved since the whitepaper was written.  It gives a good introduction to the overall concepts, but the whitepaper gets many of the details wrong

Name one detail it got wrong (and I don't mean one detail that it omitted).

Sure, easy: Satoshi makes no distinction between miners and nodes.

How is this an error?  The network is composed of nodes.  Some nodes mine, some don't.  (I could also be pedantic and say all nodes mine but some have zero hash power.)  I don't see how this is an error.

This is absolutely an error because it ignores significant game theoric scenarios such as the one we are experiencing now which is that not all miners validate themselves their transactions causing the SPV mining fiasco we've recently experienced.

This is a perfect example of Bitcoin evolving in a way Satoshi did not think of.