Quote from: Theb on Today at 08:28:29 PM

Quote from: https://bitcoin.org/bitcoin.pdf

We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power.

You forgot the "Conclusion" part of Bitcoin's whitepaper, Bitcoin only has a "proposed solution" for double-spending but was never guaranteed by Saotoshi himself aside from that Satoshi is also aware that a 51% attack is possible that is why he is talking about PoW on transactions on how should it be "computationally impractical" so that it would be "impractical" for an attacker to infiltrate the network. But Satoshi didn't even dived in to the possibility of a 51% attack from happening in Bitcoin's network, I know it would require a lot of resources for an individual or a group to pull through and control 51% of the hash rate but if we are only talking about the chances of this happening I know we all know that a 51% attack has a chance to happen.

One doesn't need to scroll down to the conclusion part of the white paper to understand how confused was Satoshi about his work, he made the same mistake in the first paragraph of the abstract section I quoted in op. Satoshi was a terrible technical writer, brilliant software designer but not much of a writer. I mean look at the white paper as a whole for the starter.

It looks to be my fault starting this thread by quoting from Satoshi and the white paper but it was the right decision because it doesn't matter how Satoshi presented his work, it matters how he had to present it: as a solution to the double-spending problem!

If bitcoin was not such a solution it wouldn't survive for more than a decade, surpassing a whopping 100 billion dollars market cap in its worst days. We had pooling pressure flaw to bitcoin PoW since the first few months after the Genesis and we have pools and all this 51% threat since 2010. Bitcoin didn't survive because they didn't practically do anything bad as the result of some fragile game theoric analysis. People don't trust a system that is half an inch away from a total failure.

The way Satoshi implemented PoW for bitcoin is flawed inherently it is based on a naive winner-take-all approach deemed as being vulnerable to pooling presuure, still we are fine, bitcoin is working, why? Because bitcoin is not about making 51% collision hard to achieve and irrational to carry on, it is about keeping the pace of inflation regulated, as far as there is no way to print bitcoins out of thin air for miners (collided or not) the double-spending problem is solved, once forever by a genius named Satoshi Nakamoto who was not able to present his brilliant work thoroughly.

Now, and please stay focused, if the double-spend is solved in the first place regardless of what is happening in the mining scene, what's actually driving the anti-PoW/anti-miner propaganda/instincts in this community? I'm asking about the rationale behind this phobia and the way it is blocking so many scaling ideas and proposals? If double-spending is not going to happen and bitcoin supply won't ever exceed the cap, what else is at stake that makes people nervous about trusting in PoW?

Are people concerned about pools to collide and defraud few Satoshis from reckless users who release their assets with one or two confirmations? Please! Just give me a break.