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If Dr Evil could do that it's not in their interest to because we'd all know how the 25 btc came to exist and the blockchain as a system would be undermined and

If Dr Evil could do that it's not in their interest to because we'd all know how the 25 btc came to exist and the blockchain as a system would be undermined and lose its value. Isn't that the point? The act of defrauding it is what devalues the chain. *Edit: I misunderstood a bit. But to then go on, the value of operating the bitcoin chain with your compute resources is to control and charge transaction fees isn't it? Profit from mining is the initial gold-rush kick to get the system popular. You're not always supposed to make money minting the coin as it were.

lifeisstillgood 11y ago
For each block Dr Evil can add his evil transaction (illegally transfer ownership of an extinct volcano to Evil Corp). If such a transaction is worth more than the cost of renting half the worlds commuters for ten mins then it's worth doing to him As such, we must make sure good actors are more incetivsed to hold 50% of compute power. So the cost of renting the 50% must be 25bc or it must be socialised as the cost of not letting Dr Evil succeed. If it is socialised, we would be insane to write a blank computing cheque for the future So we may well want to have private chains with clear mechanisms for saying what is and is not allowed onto the chain. Blockchain is a bit socialist right now - anyone can add any transaction. I cannot imagine it surviving like that - but then the Internet is not doing too badly against the same forces - the compromise may be progress