Do you think there is a flaw in Bitcoin? \ stacker news ~AskSN

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Do you think there is a flaw in Bitcoin?

500 sats \ 13 comments \ @wackster 12 Dec AskSN

Does the protocol inevitably lead to miner centralization? Does Bitcoin rely on widespread node-running and key holding in a world where not that many people will actually do it?

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100 sats \ 1 reply \ @grayruby 12 Dec

Is it a flaw in Bitcoin or a flaw in people?

92 sats \ 0 replies \ @wackster OP 12 Dec

Bitcoin. at the end of the day, Bitcoin's security does rest on people and people are flawed, so it's less interesting to address the flaw of being reliant on people. but I'd be curious to hear your case if that's where you want to take it.

100 sats \ 2 replies \ @denlillaapan 12 Dec

yes

0 sats \ 1 reply \ @wackster OP 12 Dec

but what issssss it? we must know.

200 sats \ 0 replies \ @denlillaapan 12 Dec

nooooobody knows.

scalability
...and the related in-fighting because of it
dysfunctional cycle/timing (why is it underperforming when gold is taking over the world and money printing is on?)

In the protocol itself? No, it's ingenuous

100 sats \ 2 replies \ @sancristrader 12 Dec

The biggest flaw was to make PoW non ASIC/GPU resistant. And also lack the ability to solo mine partial blocks somehow

0 sats \ 1 reply \ @wackster OP 12 Dec

By mining partial blocks wouldn't we just end up with shorter block times?

100 sats \ 0 replies \ @sancristrader 23h

No, it would have to do somehow with partitioning or parallelizing mining of a single block

100 sats \ 2 replies \ @Aeneas 12 Dec

Yes, it's in the hands of the people, and the people are stupid, gullible, credulous, greedy, lazy, and apathetic as long as NGU abides.

But I don't think that's as fatal of a flaw as others, since I also believe in Providence guiding the general retardation toward the good. Call it a superstition!

21 sats \ 0 replies \ @wackster OP 12 Dec

Providence guiding the general retardation toward the good

is a marvelous phrase. thank you.

10 sats \ 0 replies \ @SHA256man 8h

no such thing as random providence; every action is preceded by another action; every action is followed by another action; cause => effect; action => reaction;

the current conditions are largely manufactured by occult biological parasites controlling behavior of human beings; people are hackable thru influence on the body and the mind; true free will still exists, but appears almost non-existent/negligible on the global scale; follow my work in bio;

21 sats \ 0 replies \ @justin_shocknet 23h

Mining centralization is at spooky levels, but that's a market condition that is transient and already healing by the day.

Distribution is a concern, but not critical. That's a reflection of the real world economy, so again market driven, not technical.

Culture/incentives are probably the biggest risk, there's very few principled people that have the ability to do principled things. Fortunately, bitcoin's technical design is literally built to mitigate that cultural/incentive risk. Every time a script kiddie or NGO wants to change Bitcoin I appreciate it for what it is even more.

#1296172

0 sats \ 0 replies \ @86b4dc92cd 21h

There are some flaws - scalability, possibility of 51% attack (Bitcoin is too big for that now - but other smaller forks have this issue). Lack of quantum-resistance is probably also a topic to discuss, although it doesn't really matter for now. However, even some (minor) flaws in Bitcoin don't change the fact that it's revolutionary.