Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
It's funny how no one really talks about Byteball, but rather about Bitcoin
I strongly disagree with this. If you have no built-in reward, the ones running the system will eventually make damn sure that they get rewarded in some other way.
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Only a different consensus mechanism then one purely based on monetary gain can solve this, otherwise the process towards total centralization is automatic.
Only a different consensus mechanism then one purely based on monetary gain can solve this, otherwise the process towards total centralization is automatic.
I strongly disagree with this. If you have no built-in reward, the ones running the system will eventually make damn sure that they get rewarded in some other way.
I stongly disagree with that statement too!
I said purely monetary.
It is not a first time by ttookk for not understanding the whole sentence, he jumped to my "not comparable" too, ignoring that i said "not DIRECTLY comparable". Attention span nowadays
But could be language issue too, don't know.
Could be. Also, I'd like to hear if he/she or someone else disagrees with the more interesting part of that statement, namely that basing a consensus mechanism purely on monetary reward will automatically lead to total centralization.
Just like totally free (unregulated) capitalism in a market will automatically lead to a monopoly.