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For such a well written and cited article you sadly seem to make a mistake all to common with Bitcoin. You assume Satoshi understood what he created. The very
by buckle8017 1y ago
For such a well written and cited article you sadly seem to make a mistake all to common with Bitcoin.
You assume Satoshi understood what he created.
The very basis for Bitcoins security is that the real users of the system, the people who have the monetary power to not value it at anything are running nodes.
If those people don't run nodes the rules of the system are just suggestions.
Satoshi never had the chance to understand this before leaving since it's not an obvious property of the system.
- wmf 1y agoThis is an underappreciated point. Many people try to understand Bitcoin through Satoshi's writings but the street finds its own uses for things. The way Bitcoin is operated and used today isn't how Satoshi imagined. (And there's no evidence that building Satoshi's "original vision" would be successful either.)
- danielscrubs 1y agoWhy attack someone like Satoshi who can’t/won’t defend himself on based only on your own hunches?
- wmf 1y agoAs a historical figure, Satoshi is fair game for criticism.
- jaza 1y agoI reckon Satoshi understood quite well what he created. But what he quite possibly didn't understand as well, is how human behaviour would play out with his creation. He clearly believed that at least 51% of the node-grunt-power would be controlled by people who have good intentions - or at least by people in who's interest it is - to maintain the rules of the system. That has held up so far, but there's no guarantee it will always hold up.