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2024-02-01 02:38:00

This series continues to translate the original white paper by Satoshi Nakamoto to plain language. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language below.

Please show support by sharing or sending sats.

6. Incentive Paragraph 3
The incentive may help encourage nodes to stay honest. If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.

Plain Language
In the Bitcoin game, the rewards (coins) act like a good reason for players (nodes) to play fair. If a dishonest player with more computing power tries to cheat, they face a choice: either steal back their coins by being dishonest or follow the rules to earn even more coins than everyone else. If they take back their own coins, they won't have any value because the network rejected them. Bitcoin are always verified by the incredibly secure programming and the power of the network of users.

In Bitcoin, if someone tries to cheat the system, they might lose all their points (Bitcoins) because the other players (nodes) won't accept their dishonest moves (transactions or blocks). If a player doesn't play by these rules and tries to trick the system, the other players will reject their actions, and the dishonest player won't get any rewards.

It makes more sense for them to stick to the rules because it brings them more rewards and keeps the game running smoothly. Remember, the entire process is protected by powerful software called encryption, and verified by proof-of-work.

#bitcoin #crypto #btc #blockchain #cryptocurrency #hodl #digitalgold #decentralized #satoshi #cryptonews #satoshinakamoto #whitepaper #bitcoinwhitepaper #nostr #grownostr

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npub1aqxs793kps5eanmvnse97at6nc975pg6e0c6tjzxq700x0jzdl7qvvmhkh

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Published at

2024-02-01 02:38:00

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