21 sats \ 1 reply \ @0207a984de 1 Jan \ on: Altcoin Redux bitcoin
I don't think scams are necessarily "defeatable" in the sense that they can be made to cease to exist. They will always exist in some form or another, always attacking Bitcoin or unsuspecting users. I think the question is, how do we make sure they are exposed so as few people as possible fall victim/prey to them, and also, how do we technically make our systems robust so that our systems don't topple over from scams either.
I believe we live in a time where 99.999% of everything that exists is a scam in one form or another primarily due to the influence of fiat, but also, the very nature of human beings in their desires to get ahead of others through tactical means. Many times these means come at the expense of others. I see it as a fundamental reality, like math and physics. Scams simply exist as a rule.
I agree we need to continue to expose the scammers, while also ensuring Bitcoin is robust against attacks. I haven't lost faith in the game theory that scammer attacks can be mitigated by the heavy fees and that their attempts are completely futile. They will run out of money sooner than Bitcoiners become impatient, from what I can tell. Of course, some Bitcoiners are far less patient than others. But I don't think any attacker in this case can sustain the cost of high fees forever. And in the meantime, Bitcoin gets stronger as mining becomes more attractive, giving us more security.
"Everything's A Scam" song. No Agenda end of show mixes. About 3 minutes.
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