arkinox on Nostr: Hey, I appreciate the discussion here. So, the fallacy of your perspective on ...
Hey, I appreciate the discussion here.
So, the fallacy of your perspective on proof-of-work is that you think simply because someone has more hashpower than you, they will use it against you regardless of the cost/benefit. This is unlikely.
The highest cost/benefit application of proof-of-work is mining bitcoin. There is an real opportunity cost to use hashpower for spam instead of for mining bitcoin.
You are arguing that the cost to spam should remain zero because if we raise the cost, someone will automatically be willing to pay to continue to spam and this will only harm legitimate users. That's not how markets work. If you raise the cost to spam from 0 to 1, you will get less spam. It doesn't matter how much potential hashpower someone has. What matters is the opportunity cost of using that hashpower to spam rather than earn bitcoin.
Additionally, you can sum the cost of the proof of work per real user and it is provably trivial. Like I said, 30 units of POW takes about the same time as loading a webpage. Trivial if you post even a dozen notes per day.
But non-trivial if you spam 50,000 notes per day, because now you must generate 1.5 million units of proof of work daily to do what you used to do for free. This is non-trivial and will incur real costs to the spammer.
So, the fallacy of your perspective on proof-of-work is that you think simply because someone has more hashpower than you, they will use it against you regardless of the cost/benefit. This is unlikely.
The highest cost/benefit application of proof-of-work is mining bitcoin. There is an real opportunity cost to use hashpower for spam instead of for mining bitcoin.
You are arguing that the cost to spam should remain zero because if we raise the cost, someone will automatically be willing to pay to continue to spam and this will only harm legitimate users. That's not how markets work. If you raise the cost to spam from 0 to 1, you will get less spam. It doesn't matter how much potential hashpower someone has. What matters is the opportunity cost of using that hashpower to spam rather than earn bitcoin.
Additionally, you can sum the cost of the proof of work per real user and it is provably trivial. Like I said, 30 units of POW takes about the same time as loading a webpage. Trivial if you post even a dozen notes per day.
But non-trivial if you spam 50,000 notes per day, because now you must generate 1.5 million units of proof of work daily to do what you used to do for free. This is non-trivial and will incur real costs to the spammer.