📅 Original date posted:2021-05-16
📝 Original message:On 5/16/21, Eric Voskuil via bitcoin-dev
<bitcoin-dev at lists.linuxfoundation.org> wrote:
> https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox
> https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy
The chain security actually reduces by 10% in this proposal. So the
efficiency paradox is not violated, it is just the real cost of
confirming a transaction is reduced, because there is actually less
security. This eventually reduces the price of bitcoin and reduces the
amount of electricity the block reward can eventually buy.
Karl [ARCHIVE] /
npub10h…9xjf9
2023-06-07 22:53:27
in reply to nevent1q…nz5s
Author Public Key
npub10hvdghlzknsxl8n9fhevm3hc6ppgkmnhjl0x7999hylnmcm3jursv9xjf9Seen on
wss://relay.nostr.bandPublished at
2023-06-07 22:53:27Event JSON
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"content": "📅 Original date posted:2021-05-16\n📝 Original message:On 5/16/21, Eric Voskuil via bitcoin-dev\n\u003cbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\u003e https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox\n\u003e https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy\n\nThe chain security actually reduces by 10% in this proposal. So the\nefficiency paradox is not violated, it is just the real cost of\nconfirming a transaction is reduced, because there is actually less\nsecurity. This eventually reduces the price of bitcoin and reduces the\namount of electricity the block reward can eventually buy.",
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