I missed this. We are still disagreeing on this. below...
...C) You may still be wrong in understanding how bitcoin works, and are missing a variable either in it's technology, or in the game theory it's designed on?
Specifically?
Some assumptions we have to clarify:
- Is it in the best interest of a mining pool or conglomerate to have 51% of the hashing power? (Y/N)
If you are the government then yes. Government is a monopoly on force (a well accepted definition by most academics). Without that monopoly, they lose their reason to exist.
- Are threats such as deliberately mining blocks with zero transactions a legitimate concern? (Y/N)
No. But you miss the point. The cartel will put all the transactions in their blocks and withhold those transactions from the other miners, thus starving the other miners of income to pay electricity for PoW.
- Do miners have majority control over which blocks are considered valid? (Y/N)
I have no idea what you mean or what is your point?
- Are people in general altruistic, being ok with seeing their wealth diminish if it goes to "the greater good," if allowed to make that choice in private without coersion? (Y/N)
What greater good? You mean Bitcoin is a greater good? No it is a certain monopoly for cartels and thus the government.
- Are people stupid apathetic sheep who don't care about what happens as long as it doesn't affect them directly?(Y/N)
Mostly yes. Self-interest is very powerful and myopia is extensive, even you fail to see what I see. Yet I think you will finally realize it with my comment on #2 above.
threat of 51% attacks may force people to rethink democracy and majority control. If that happens, the first thing will become a big N, as will the idea of "democracy" and minarchy.
You don't understand how human action works. It isn't a group consciousness where we act rationally as a group. It is the individualized motivations that yield the domino effects that cause the group wave effect.
To analyze the game theory, you have to analyze those individual incentives.
This is precisely why democracy is failure, because the individuals are motivated to receive benefits from the collective:
Some Iron Laws of Political EconomicsBut, these are really assumptions that neither of us can answer concretely (except for the second one, which is trivially easy to fix), so...
I just did.
Sorry I can't continue this. I have work to do. Thanks.