Post
Topic
Board Bitcoin Discussion
Re: The Extreme Flaws Of Bitcoin
by
RealBitcoin
on 01/12/2016, 06:35:42 UTC
Nodes don't get rewards from Mining
They do get rewards. But the reward is zero. One should do more useful work for more reward.

Bitcoin mining is not ASIC resistant
There is no such thing as asic-resistance.
Agree to both reply's.
There is no such thing possible as asic-resistance, because people will always find way to bypass this anti-asic mechanism whatever that would be.
To the first point of 0 reward from running full node. There is reward, safe bitcoin network. You will see that when need arise, people will massively put new full nodes on their own expenses. Why? To secure bitcoin because they are either invested or admiring bitcoin technology.

Bullshit, that is again the "common good" fallacy. People will never act for the best of the group's interest on their own.

People always act on their own self interest.

Why should I setup a full node that would cost like 100$/month with VPS, internet, electrucity, etc, when other people can do it?

Everyone thinks like that, and then nobody does it, except a few punks, but I doubt Bitcoin can sustainably survive on a few punks's altruism.

It should have had an incentivized node system, hey not a lot, perhaps give 1% of the mining profit to the nodes, it's not a big deal, but better then 0.



Every payment processor/merchant gains advantage from running a full node, that means thousands of node in the world.


Nonsense,  people can just verify their transaction through 10 different random SPV nodes, that should be as accurate as a full node.

Besides if in the future some transaction verification system becomes available, then it's fucked.

Nodes will have 0 incentive to run, and the netwok will collapse.