Quote from: jbreher on November 14, 2018, 09:31:18 PM

Quote from: JayJuanGee on November 14, 2018, 09:18:45 PM

Quote from: jbreher on November 14, 2018, 06:40:25 PM

Quote from: Astargath on November 14, 2018, 06:29:01 PM

Quote from: jbreher on November 14, 2018, 06:20:33 PM

Quote from: Astargath on November 14, 2018, 05:56:16 PM

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

This is crypto. Hash power is The Power.

"They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

- SN, Bitcoin: A Peer-to-Peer Electronic Cash System

So much for decentralization.

Ah, yes. 'Decentralization'. A means to an end that many have confused with the ultimate end. And a term that appears exactly zero times in aforementioned white paper.

That's ridiculous.

Now decentralization is not important?

That's not what I said at all. What I am trying to say is that decentralization is not the holy grail. Decentralization is merely a means to an end. Decentralization is valuable only in that it serves the ability to transact in a permissionless trustless manner.

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Seems like bitcoin's pow is of central importance in bitcoin

Absolutely. A principle that has never been tested in practice. A principle that is seemingly about to be demonstrated conclusively.

Why u drama so muchie, jbreher?

There is no major pending test that is imminent in bitcoin. There is shenanigans in bcash, and there are various hyperbolic points about bitcoin being defective in various kinds of supposed ways, but really the proof of work in bitcoin has been an amazing feature that continues to prove itself. Yes. Go ahead and divert hashing power, and let's see? There has already been quite a few tests of bitcoin in regards to hashing power incentives, and I will not discount that bitcoin will continue to be challenged in terms of whether its POW is going to keep the incentives and the ongoing building of bitcoin hashing power - even during periods of miner attacks and diversion efforts on chains with similar algorithms.

So far bitcoin's pow has been working quite well, even while you (and your buddy craig) want to suggest that bitcoin is broken in some kind of way or that you have some kind of Ace in the hole that you are going to be able to pull out to show bitcoin as being defective in some way. Again, I will believe it when I see it.. otherwise, bitcoin seems to be quite the wonderful innovation that continues to have great alignments of incentives while being able to stave off ongoing attacks.. at least, so far.