Bitcoin: A Miner Problem

[juan]

On Sat, 5 Mar 2016 14:45:27 -0500
grarpamp <grarpamp at gmail.com> wrote:

> On 3/4/16, Georgi Guninski <guninski at guninski.com> wrote:
> >> http://qntra.net/2016/03/a-miner-problem/

> > Isn't this "cartel" the "free market" in juan's anarchist utopia?
> 
> Yes. That's supposed to happen. 

	No, this isn't the free market. For starters, it should be
	obvious that bitcoin doesn't operate in a free market. If we
	had a free market in money we wouldn't need bitcoin...

	Bitcoin is more like a black market. Similar to the black
	market for, say, some drugs the gov't doesn't like. And
	actually, bitcoin is more like a single a company, not a
	'market'. Finally, allegedly, some people are 'exploiting' a
	'known flaw' in the 'bitcoin protocol'. That's not 'a market'.


	'Utopian' anarchy assumes that most people behave
	honestly. And service providers do what they are supposed to
	do. In this case miners are supposed to 'secure' the network,
	not attack it. If they attack it then we are not dealing with
	any kind of 'utopian anarchy', but with ordinary fraud.

	



> it's also supposed to happen
> that there will be many independant brains out there that introduce
> opposing forces. But traditional sheeple don't exactly spin up as
> independant actors quickly when anarchism is suddenly dropped
> on them, thus they get raped for a while till they do.
> 
> The one or two past situations over 50% were voluntarily rebalanced
> by pools and miners. However since pools are still too uneven few and
> large multi percent chunks the possible combinations and motives
> aren't ideal. People will eventually realize that they, as millions
> of users, are the ones who should be doing the mining, all
> independantly under a known and necessary code of poolsize limiting,
> a vested stake in preserving value of their own assets and economy,
> thus distributed impossible to be abused by large pools / entity
> cabal miners. Most users don't get that yet. Though the 21 of things
> is a step towards that.
> 
> They also don't seem to get that ineffective bitcoin leadership
> (for those that don't believe in the anarchist blockchain as a
> possibility itself) is repressing and destroying their value and
> utility.