Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
spooderman
on 15/06/2017, 14:09:56 UTC
Do you even understand Bitcoin? If you want proof-by-proxy then either go to Barrycoin or Jihancoin.

Oh, i understand Bitcoin very well. Bitcoin relies on a consensus-mechanism called "Proof of Work" and as such it's the miners that effectively decide what happens. You don't like it? OK, but what other consensus-mechanism do you propose? "Proof of Node"? "Proof of Reddit Account"?

You see you are right that Bitcoin means NO backdoor decisions, yes. But then you should also understand that in the Bitcoin ecosystem it's PoW that decides and nothing else.

And who decides if the PoW is valid?

Stop being obtuse.
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Just bought a BTC. Let's hope I caught the bottom Cheesy