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21 sats \ 1 reply \ @Satosora 22 Mar \ on: Reflections from the Nakamoto Simulator bitcoin
Not that l am doubting the math...but how much do you trust the AI to not be biased? Which AI system was used? I mean, it is called the Nakamoto Simulator, right? Also, from what l remember reading, doesnt the Schrodinger model have a few shortcomings?
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21 sats \ 0 replies \ @Undisciplined OP 22 Mar
All models are wrong, but some models are useful.
I mentioned that the binary outcomes were a shortcoming. However, it's a pretty simple model and I'd say it's pretty reasonable for back-of-the-envelope estimates.
The bias I was more concerned about was that of the human(s) who set the parameters. That's why I used their least optimistic settings.
One parameter that I didn't play around with was the discount rate. That would have a huge effect, but they did choose a value that's very common for these kind of economic models.
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