Re: Is POW systematically doomed to get a huge monster in its midst?
ʿAlī Bābā admits proof-of-work allows oligarchies therefore according to ʿAlī Bābā, we should store our Bitcoins in SegWit addresses that begin with a 3 so that when the oligarchy hard forks Bitcoin we end up only with Core tokens and not both real Bitcoin and Core tokens.
Yes, it is much better to put your cold storage coins in a legacy address. Ali Baba should read about "Pascal's Wager". I believe the same argument would apply in this situation.
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ʿAlī Bābā has this delusion that he will remove the undesirable invariants of proof-of-work with the magic words open sesame, yet I expect that all we will ever see come from that is talk and delusion, never reality because he is simply incorrect.
What is there to remove? But that does not mean that the threat of a POW change should not be there. I believe the economic majority would agree to it as a last resort. But careful planning must be done.
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He will likely blame his failure on me, accusing me of killing the interest in his magic designs.
Corrected link: https://bitcointalk.org/index.php?topic=4438334.0
Corrected link: https://bitcointalk.org/index.php?topic=4438334.0
Why you? What did you do?
