5 ms·
The hard part is not the data structure behind it (Merkle tree) but the economics. An entirely new branch of economics has spun of it and it's far from trivial.
by pa7x1 5y ago
The hard part is not the data structure behind it (Merkle tree) but the economics. An entirely new branch of economics has spun of it and it's far from trivial.
- eli 5y agoI think the hard part is convincing people that it’s a new branch of economics and therefore the old rules need not apply.
- jfrunyon 5y ago"People had to invent entirely new ways to explain it because our existing models didn't work" isn't a very good argument for it being real.
- tiborsaas 5y agoWhy not? We made something and it takes time to understand its implications.
- bduerst 5y agoI mean, it's not even 'entirely new ways' to describe it. Bitcoin has been reinventing the finance industry one mistake at a time. Tragedy of the commons is fully evident in the bitcoin block size debacle.
- mattgreenrocks 5y agoI can understand mapping out a new branch of a field is nontrivial. But I’d also hope that domain experts could explain it well enough to bring others to a basic level of understanding without saying, “it’s too hard.”
- floatboth 5y ago> entirely new branch of economics More like, everything old is new again. Nicholas Weaver called it "speedrunning 500 years of bad economic history".
- deleted 5y ago[deleted]