Smaller botnets add to the security of the network, which is my primary concern, not economics.
I disagree with the economic argument about botnets being important "because they get cheap coins" for two reasons:
1. Botnets are a finite resource and if mining with them is so profitable because they get cheap coins more botnets will join the network until the coins are no longer cheap (a combination of botnets getting scarce and the difficulty going up), and
I disagree with the economic argument about botnets being important "because they get cheap coins" for two reasons:
1. Botnets are a finite resource and if mining with them is so profitable because they get cheap coins more botnets will join the network until the coins are no longer cheap (a combination of botnets getting scarce and the difficulty going up), and
Afaik, I was the person who originally had that same insight several months ago. However, that doesn't necessarily apply while the supply of botnets is 10s - 100s of thousands (or even millions) and the totality of non-ASIC altcoin mining is 100s of thousands.
Smaller botnets add to the security of the
2. given opportunities to trade the coins will end up with whoever values them the most anyway. That may well be some whale who buys them from the botnet owner, or the botnet owner might himself be a whale. The rich get richer, (almost) always. It is fair that we agree to disagree on this point.
2. given opportunities to trade the coins will end up with whoever values them the most anyway. That may well be some whale who buys them from the botnet owner, or the botnet owner might himself be a whale. The rich get richer, (almost) always. It is fair that we agree to disagree on this point.
You ignore the power of squaring laws.
Not wise from my understanding of math.I will say one thing about what I think about Monero generally. I think it is a bloody mess, with lousy code we essentially found half-finished in some dead guys attic (to speak in metaphors). But what it does, it does better than any other delivered coin (by a wide margin),
What is that? Mix coins? I already had someone report to me they tried and failed. That was only 1 report though.
and I believe that many of the most serious problems can be addressed in short order (some already have).
The block chain scaling can't be fixed. For me that is the killer. So I could understand why you might not care about economics scaling by the square law.
In fact I would guess that the reason you pay so much attention to Monero is that you agree it is by far the best implementation of decent privacy on a blockchain that exists today, and therefore the closest to something you seem to think is important.
I am so jealous.
