Gavin Andresen [ARCHIVE] on Nostr: 📅 Original date posted:2015-09-29 📝 Original message:On Tue, Sep 29, 2015 at ...

📅 Original date posted:2015-09-29
📝 Original message:On Tue, Sep 29, 2015 at 1:24 PM, Allen Piscitello <
allen.piscitello at gmail.com> wrote:

> I fail to see how always following a majority of miners no matter what
> their actions somehow equates to insanity.


Ok, I have a hidden assumption: I assume most miners are also not
completely insane.

I have met a fair number of them, and while they are often a little bit
crazy (all entrepreneurs are a little bit crazy), I am confident that the
vast majority of them are economically rational, and most of them are also
meta-rational: they want Bitcoin to succeed. We've seen them demonstrate
that meta-rationality when we've had accidental consensus forks.

If you start with the premise that more than half of Bitcoin miners would
do something crazy that would either destroy Bitcoin or would be completely
unacceptable to you, personally... then maybe you should look for some
other system that you might trust more, because Bitcoin's basic security
assumption is that a supermajority of miners are 'honest.'

--
--
Gavin Andresen
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150929/f20f08f7/attachment.html>;