Post
Topic
Board Development & Technical Discussion
Re: Are blockchains truly distributed systems?
by
hv_
on 07/10/2020, 10:42:31 UTC

Where is the trust then ? Why would that very cartel do sth 'bad' ? Could that 'hide' ?



As a simple example. Then Bitmain/Jihan Wu and the mining cartel will have a better probability to, increase the block size/remove the limit, remove the Core developers, even if if the users/community do not want both.

Plus if no one ran full nodes, you want the users to trust the miners?

You just must trust HONEST miners - as described in the initial financial term sheet of Bitcoin - read the White Paper - that is binding, only.


Roll Eyes

But trust who? WHO ARE THE HONEST MINERS?

Bitcoin is robust because it was designed to assume that EVERYONE can become a BAD ACTOR against the network.

really everyone ?

Why long term investing miners ? Big enough to really do sth bad ?

Bitcoin is perfectly done, including its implemented game theory

Miners are the makers - for the incentives - long term

everyone else just cannot do any harm, even 1000s of following Sybil nodes, cause they can only update what miners make or be out of sync - do harm for other Sybils

so better have only few powerful ones those to get paid for stay honest