420 sats \ 10 replies \ @jk_14 13 Nov 2023 \ parent \ on: Reasons to prefer blake3 over sha256 bitcoin
Imagine if SHA256 is suddenly broken and make all miner ASICs useless
then we go and fork to ASIC-proof GPU mineable algo, as Satoshi wanted:
https://cointelegraph.com/news/satoshi-invented-gpu-mining-to-defend-the-network-says-early-dev
then we go and fork to ASIC-proof GPU mineable algo, as Satoshi wanted:
maybe I didn't read the article properly since I already know the story from another source
but where in this is mentioned that Satoshi wanted an ASIC-proof GPU mineable algo?
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"the big attraction is that anybody can download Bitcoin and start mining"
and he wanted "big attraction" or he didn't want ?
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Why remove the "But right now" from the quote?
The actual quote is:
"But right now, the big attraction is that anybody can download Bitcoin and start mining with their laptop."
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so wouldn't he like to have a big attraction as long as possible - like almost every human being? :)
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Yes but not necessarily as "anybody can download Bitcoin and start mining with their laptop". Most people probably stopped mining after they found out within a few days that it makes their machine too hot or too slow, it's too noisy, etc.
So it was always only the initial attraction. Nowadays, I would say the big attraction are the crazy bull markets.
So isn't bitcoin still a big attraction?
Since we're here thanks to all previous bull markets?
And because enough people got interested in bitcoin early on for whatever reasons?
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most people probably bought second GPU in pre-ASIC era, that's why you had bull markets (network were rising)
the biggest attraction would be to have a steady and sure 2% increase per month of Bitcoin purchasing power :)
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I noticed we're moving the goal posts
Would you still say that Satoshi did indeed say that they wanted an ASIC-proof GPU mineable algo?
Even though they used "But right now" in your quote (I don't know why you left that out, I can only speculate) and afaik, never mentioned an ASIC-resistant GPU mineable algo?
But to be honest, I don't think it matters what Satoshi said or didn't say. Bitcoin was meant to be out of their control and is, as it should be.
Referring to what Satoshi said are poor arguments imo.
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Mining your own Bitcoin was, is and always will be: the big attraction, which Satoshi wanted. Period.
(I know what I'm saying, having small Antminers army)
Fascinating read, and other details?
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