melvincarvalho on Nostr: Bitcoin operates honestly if 51% of the network are honest. Federations operate ...
Bitcoin operates honestly if 51% of the network are honest. Federations operate honestly if 67% of the network is honest. By extension, if there were one provably honest person in the world, they could replace the miners. Satoshi was probably as close to that one honest person. And even he did not remain. Plus we had to fight and win multiple civil wars to keep bitcoin honest. You can expect we'll have to fight 1-2 more to lock that in, for the long-term.
Published at
2024-10-12 05:27:45Event JSON
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"content": "Bitcoin operates honestly if 51% of the network are honest. Federations operate honestly if 67% of the network is honest. By extension, if there were one provably honest person in the world, they could replace the miners. Satoshi was probably as close to that one honest person. And even he did not remain. Plus we had to fight and win multiple civil wars to keep bitcoin honest. You can expect we'll have to fight 1-2 more to lock that in, for the long-term.",
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