3 ms·
> I'm talking about parasitism. Much if not all of the anti–Proof-of-Work narrative and the debunking thereof can be characterized by Brandolini’s law [1]. ITT
by atweiden 6y ago
> I'm talking about parasitism.
Much if not all of the anti–Proof-of-Work narrative and the debunking thereof can be characterized by Brandolini’s law [1]. ITT “Sure, the overwhelming majority of `$COIN` was premined by insiders or sold to prestigious investors for pennies in exclusive pre-ICOs, but look over there — Bitcoin mining is oh-so-unfair. Disclosure statement? What’s that?”
All the financially-motivated disbursal of misinformation takes a considerable amount of time to debunk, hence the parasitism component.
[1]: https://en.wikipedia.org/wiki/Brandolini%27s_law https://en.wikipedia.org/wiki/Brandolini%27s_law
- pazimzadeh 6y ago10% is not a majority. I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one.
- atweiden 6y ago> I would be ok with Bitcoin having had a 10% pre-mine if it also had a pre-sale, rather than limiting it to those technical enough to mine it on day one. “On day one” it was possible to CPU mine Bitcoin on any ordinary Windows PC using a freely available open source GUI application.
- pazimzadeh 6y agoTo this day the UI for just sending transactions is pretty bad, so I can't imagine how bad it was on day one. I am interested to see a screenshot, if you could share.