Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Re: Why the economical part isn't mentioned on the whitepaper?
by
pereira4
on 25/07/2019, 18:43:53 UTC
⭐ Merited by cr1776 (1)


You can infer from the above, that Satoshi Never dreamed that bitcoin mining would be so expensive in the future, that there is no wiggle room for some free transactions, in the miner's profit margins. Or you could say he underestimated the miners greed.

Quote from: satoshi
“At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware

https://satoshi.nakamotoinstitute.org/emails/cryptography/2/

Satoshi had in mind ASICS since 2008. He also had considered how people would be against further block size increases in order to be able to audit the blockchain on their own (own the entire blockchain locally) so you aren't basically using a webwallet:

Piling every proof-of-work quorum system in the world into one dataset doesn't scale.

Bitcoin and BitDNS can be used separately.  Users shouldn't have to download all of both to use one or the other.  BitDNS users may not want to download everything the next several unrelated networks decide to pile in either.

The networks need to have separate fates.  BitDNS users might be completely liberal about adding any large data features since relatively few domain registrars are needed, while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices.



This post is of December 10th 2010, he left forever in December 12th 2010. Which is why my thesis is that he realized on his lasts days here how there wouldn't be a consensus to increase the block size, it was too late. The project was too big for such a consensus to happen, which at the same time proved the success of decentralization, something that people like you can't grasp by still insisting that this is a problem of "Bitcoin devs not wanting to raise the blocksize". Thus Bitcoin became digital gold as a result.