Re: DECENTRALIZED crypto currency (including Bitcoin) is a delusion (any solutions?)
PoW has a value. The electricity burned by the entire bitcoin network attempting to produce one block costs 25 BTC on average, because overall, PoW mining is equilibrium centered around break even. Therefore, as the recipient of a transaction for 25 BTC, it stands to reason that I can wait for 25 BTC worth of PoW to get appended to the chain after my transaction appears in a block, because any double spend of this transaction after that point would not be profitable for the miner, since they must expend that amount of PoW to achieve the double spend.
I get frustrated because this post of yours ignores what I wrote in the prior post.
There is no such equilibrium because not all miners have the same costs for the same difficulty.
Also you can't assume they didn't double-spend more than one transaction.
Those are just really obvious errors. I shouldn't even need to make this post. You should have thought of that before making the post and thus realized not to make the post.
(I been awake too long and my forehead wants to fall on the keyboard, and even in this dilapidated mental state I can easily see those errors)
Get some sleep, and come back to this later
