The only thing that protects Bitcoin from tyranny is the profit motive of investors and miners. Or the charity of philanthropists, nor the idealism of the activists nor the enthusiasm of the apostles, nor intelligence programmers nor the sagacity of employers, nor the audacity to venture capitalists, nor a minority view circumstantial, nor the most circumstantial ... only the profit motive of investors and miners.
I'll keep repeating it until I lost my voice, and when afónico continue typing until my fingers cramp, because if you do not understand So you're a genius with an IQ cryptography estratosférico- have not understood the most important aspect of Bitcoin. So important that without it would be kind of Bitcoin PayPal battered and useless completely; so important that Satoshi Nakamoto himself tired to explain again and again as genius challenged at the dawn of Bitcoin, the feasibility of its design.
The only thing that protects Bitcoin from tyranny is the profit motive of investors and miners; and for both investors and miners there is only one way to satisfy that desire: to defend the rules that give value to say - that Bitcoin Bitcoin rules that make a good currency- . There is no mechanism enigmatic, intelligible only to a caste of initiates, behind the success of Bitcoin in its constant defense of its monetary qualities. The only guarantee that never will be issued more than 21 million bitcoins -for mention one of the rules that Blockstream boys would have no objection to removing ( directly or indirectly ) - is he repeats with me the profit motive of investors and miners.
It bitcoin be represented as a safe that automatically changes the material from which is made according to the value stored inside. When almost no one was interested in Bitcoin, the box was wooden and that was enough; when thousands of people began to pay attention, the box became aluminum; and later, when the box had to secure the equivalent of thousands of dollars, it became a box of ultra-resistant steel.
Do you understand how it is that Bitcoin is strengthened himself? More invested in Bitcoin with its value qualities monetary attracts more investment in mining equipment, which increases network security, which in turn increases investor confidence, which motivates them to invest in Bitcoin, and the cycle recommences (value attracts more investment in mining equipment, etc.). Thanks to this feedback loop system security turns out to be directly proportional to investing in Bitcoin at any given time value. The greater the reward for successfully attack the network, the higher the barrier encountered by attackers (read: those who, like Blockstream / Core aspire to extract value from Bitcoin without respecting its rules) .
The problem Blockstream / Core is that the incentive system devised by Satoshi Nakamoto works as he envisioned it would work: respect the rules of Bitcoin remains, and will always be more profitable than trying to rape them. social engineers, state regulators, media pundits, corporate puppets and other examples of interventional wildlife do not fall into the feedback loop driven by investors and miners. Hence the frustration experienced against Bitcoin, accustomed as they are to thrive by applying other rules that do not apply to themselves.
If you insist that the miners who control most of the computing power are enemies of Bitcoin because they strive to maximize their own economic benefit, or because they refuse to adopt certain piece of software that to you looks gorgeous but they judge contrary to their interests, you should not have invested a penny in this space. And in the future you should not invest a penny more before realizing that success and the very existence of Bitcoin depend precisely why you considered detrimental to Bitcoin.
I'll keep repeating it until I lost my voice, and when afónico continue typing until my fingers cramp, because if you do not understand So you're a genius with an IQ cryptography estratosférico- have not understood the most important aspect of Bitcoin. So important that without it would be kind of Bitcoin PayPal battered and useless completely; so important that Satoshi Nakamoto himself tired to explain again and again as genius challenged at the dawn of Bitcoin, the feasibility of its design.
The only thing that protects Bitcoin from tyranny is the profit motive of investors and miners; and for both investors and miners there is only one way to satisfy that desire: to defend the rules that give value to say - that Bitcoin Bitcoin rules that make a good currency- . There is no mechanism enigmatic, intelligible only to a caste of initiates, behind the success of Bitcoin in its constant defense of its monetary qualities. The only guarantee that never will be issued more than 21 million bitcoins -for mention one of the rules that Blockstream boys would have no objection to removing ( directly or indirectly ) - is he repeats with me the profit motive of investors and miners.
It bitcoin be represented as a safe that automatically changes the material from which is made according to the value stored inside. When almost no one was interested in Bitcoin, the box was wooden and that was enough; when thousands of people began to pay attention, the box became aluminum; and later, when the box had to secure the equivalent of thousands of dollars, it became a box of ultra-resistant steel.
Do you understand how it is that Bitcoin is strengthened himself? More invested in Bitcoin with its value qualities monetary attracts more investment in mining equipment, which increases network security, which in turn increases investor confidence, which motivates them to invest in Bitcoin, and the cycle recommences (value attracts more investment in mining equipment, etc.). Thanks to this feedback loop system security turns out to be directly proportional to investing in Bitcoin at any given time value. The greater the reward for successfully attack the network, the higher the barrier encountered by attackers (read: those who, like Blockstream / Core aspire to extract value from Bitcoin without respecting its rules) .
The problem Blockstream / Core is that the incentive system devised by Satoshi Nakamoto works as he envisioned it would work: respect the rules of Bitcoin remains, and will always be more profitable than trying to rape them. social engineers, state regulators, media pundits, corporate puppets and other examples of interventional wildlife do not fall into the feedback loop driven by investors and miners. Hence the frustration experienced against Bitcoin, accustomed as they are to thrive by applying other rules that do not apply to themselves.
If you insist that the miners who control most of the computing power are enemies of Bitcoin because they strive to maximize their own economic benefit, or because they refuse to adopt certain piece of software that to you looks gorgeous but they judge contrary to their interests, you should not have invested a penny in this space. And in the future you should not invest a penny more before realizing that success and the very existence of Bitcoin depend precisely why you considered detrimental to Bitcoin.