Post
Topic
Board Altcoin Discussion
Re: IOTA - Permissioned ledger Russian extortion scheme
by
r0ach
on 27/03/2016, 23:34:25 UTC
it is not a permissionless system because I cannot acquire native tokens in a permissionless manner...just like proof of stake

Agree.

Bitcoin is dangerously close to that as well. The pricing of SHA2 ASICs is basically an extortion scheme.


Yea, but it's just like any real free market in that there's no guarantee other's won't find a competitive advantage over you, survival of the fittest.  Whether that advantage is building a factory with Chinese peasant slave labor, or operating an unlicensed nuclear reactor on the bottom of the ocean floor.  As long as you can perform the hash function on a CPU that existed before Bitcoin was even releaesd, the fact remains that it is a permissionless ledger.