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134 sats \ 10 replies \ @carlosfandango 7 Mar freebie \ parent \ on: Counting my blessings amidst Million Sats Madness meta
Some may be a hold over from privacy minded individuals. I suspect those who have chosen to hide recently is that privacy is needed in this ‘competition’ because there is a significant level of gamesmanship. Why zap someone above you for a low value post and give them sats which you could deploy elsewhere? Why not downzap a competitors post which may gain traction. Lottery style competition run over a period of time, like a lot of asset accumulation in fiat-land, needs anonymity to protect participants from each other.
This does not happen on the daily rewards as the absence of a leaderboard means you just ‘do your best’ to some extent.
In games theory terms you can imagine a one-person walking race between endless people. You are all doing it at a different time and place and it must be completed in 24-hour window. Everyone who takes part wins a portion of a prize but no one knows anyone else’s position although you can make a guess that some competitors seem to be more successful than others, and you have an idea of your own placement based on previous results. At the end of 24-hrs results are ‘published’ and you gain having made your own best effort.
Now do an endless number person race where you can see everyone else, you still know who may do well and your own potential position yet you can do small actions which could affect the front runners, and improve your own position to be in the winning 64 for a prize ,and you see a regularly updated leaderboard. At the end of 30-days the results are ‘confirmed’ and you gain (or not) based on your own best effort AND this is can be improved by hindering others. Privacy would significantly benefit you.
(Nb: I apprecaite there are daily leaderboards for top stackers etc but my theory stands)
1984 is one of my favorite novels and I’m kicking myself in the face for not having seen the similarity between the Lottery and Million Sats Madness.
I’m wondering if BTC mining companies play similar games against one another in order to mine the most sats haha
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Game theory is at the heart of bitcoin. Whilst that may not play out with miners against each other it certainly plays out within the ecosystem. It is currently most profitable to focus on deploying the maximum number of rigs efficiently, it may become more profitable to sabotage other miners in due course. I can’t say if it happens yet but it would work woth single figure numbers of large mining entities competing to either exclude smaller operations or to gain advantage over their peers…. The joy of game theory in this instance is that if you damage one competitor you enhance all others (including yourself).
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This point also explains political lobbying for regulations by corporations and special interest groups.
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It does… although in the case of special interest groups the pay off does not have to be economic ie many climate policies.
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I meant industrial special interests. There's certainly some of that in the climate space, too, as well as everything else going in that cesspool.
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Agreed. Sorry - I wasn’t clear
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no prob
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The remedy for this kind of situation is to add social norms to the mix. Either in the form of a cost for hiding or a benefit for not hiding.
Unite to oppose the hoards of nameless cowards!
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As opposed to the exact opposite we currently employ. Maybe a fee? Perhaps you opt out of the competition by choosing privacy. No strong opinions from me, it is not my sandbox… I just play in it every once in a while.
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We'll see what emerges. It could be as simple as zapping a little extra to people showing off their cowboy hats.
I'm just stirring this up because it's a fun element of competition and I'm really interested in this stuff. I don't want anyone kicked out, though.
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