Post
Topic
Board Bitcoin Discussion
Re: Hashers are not miners, and Bitcoin network doesn't need them.
by
Holliday
on 12/01/2014, 00:52:22 UTC
You're trying to demoralize a perfectly legitimate behavior on part of the "hashers", but this only diverts the discussion from the real issue: the protocol itself.
The protocol was designed to encourage profit seekers, or "hashers", to.. hash.

Satoshi didn't foresee this centralization behavior.
But I can guarantee you, that if he did, he wouldn't seek a moralizing argument, but a technical solution.
The whole point of Bitcoin is to be moral-agnostic, and trust-free. It's a cryptographically secured public ledger, not a charity fund or a society equalizer.

Calling names is pointless. We need technical solutions, not moral preaching.

I can't speak for everyone here, but I don't see where morals are involved at all. The entire issue revolves around profit. Short term profit versus long term sustainable profit.

I have no problem with hashers voluntarily selling their hashing power to centralized pools, but if that behavior results in those pools having the ability to attack Bitcoin, thus possibly destroying confidence in Bitcoin itself, those hashers are no longer going to be able to profit from selling hashing power.

Many people who hold large amounts of Bitcoin do so because of Bitcoin's decentralized nature. It would be wise to keep that in mind if your business is selling hash rate.

Satoshi did forsee a hashing power "arms race".