Post
Topic
Board Altcoin Discussion
Re: The state of crypto - The only serious thread on the subforum
by
TPTB_need_war
on 11/09/2015, 23:55:45 UTC
Consider the analogy of a parking garage in a very convenient location (say right next to a popular theater) when there is free parking available a short to moderate distance away compared to the situation with the same garage but no free parking available at all. In the first case, the garage may charge only a nominal fee and nearly everyone (or conceivably everyone) might pay it for more convenient access to the theater. In the second case, the garage will charge the maximum fee possible until people stop going to the theater at all.

Except as your analogy applies to Satoshi's proof-of-work design, then the free parking is not accessible by anyone who has a car because it is on the top of a skyscraper[1]. The only people who can access this free parking must either have a helicopter or they must pool their resources to buy one.

Myopic blind spots like this smooth cause us to waste time in discussion.


[1] Because the hashrate needed to win a block any time within this century is inaccessible to your average person sending a transaction to the network.