How does cognitive dissonance apply to a distributed computing project? Better yet, how is a distributed computer incompetent? I think you're missapplying that favorite insult of yours to an inanimate system.
Cognitive bias does not apply to non-cognitive systems. Think again. To my knowledge I don't actually have a "favorite" insult - I prefer to use a variety. Feel free to enlighten me though, a dog never can smell his own scent (or so they say).
Final counter 3: Block IPs not trusted; all central blocks would then go into thin air - ONE update.
torDoesn't matter: If I see a 51% attack and set my client to only trust the mtgox IP for instance then you can fake coming from all the IPs you want using TOR, but that will never get your block on my client.
It's funny I am called the pig here when other posters are displaying such immense ignorance of basic TOR/IP/internet function.
Woah, you'll have to educate my sorry ignorant ass here. What, are you gonna ask mtgox to ignore blocks coming from tor aswell? Identifying a 51% attack must needs be based in properties of the blocks mined, not which IP they come from. Andresens' crude PoS, for example, linked in this thread would work on block properties.
Suppose the central bank controls 51% of hashing power and wants to achieve a stimulus equivalent to a 3% increase in inflation.
Simply demand a txn fee equal to 3% of coin-age (with age measured in years). This is just like instantaneously increasing the inflation rate by 3%.
Yes. To stimulate spending, you must increase the cost of spending money. GENIUS!
I think cunicula means to increase the cost of *saving* money. Though I'm not sure that a simple linear tax on bitcoin-days would do the job.