> However, we argue that double-spending by a cartel has a limited payoff I find this "cheating the system is against your rational self-interest" argument to

> However, we argue that double-spending by a cartel has a limited payoff I find this "cheating the system is against your rational self-interest" argument to be very unconvincing. The whole point of the proof-of-work system is to allow for a decentralized and trustless system. If you are going to trust the miners with more than 50% of the network than you might as well centralize the ledger and stop burning coal to mine transactions.