Topic: Transactions Withholding Attack - page 7. (Read 27527 times)

You don't turn the steering wheel 15 miles before a curve that may never come.

There are definitely some cases where fixing a problem early has huge advantages. For example, if you're developing a product, it's better to fix a problem in the design stage than after manufacturing. And it's better to fix it after manufacturing than after shipping. And so on.

But when the problem is a possible problem for the far future, there are huge disadvantages to fixing it early. For one thing, the technology available to fix it will get better the longer you wait. The problem may never even materialize, in which case the effort expended to fix it is wasted. Other problems may actually materialize and it may be possible to fix both problems with the same effort. The attempt to fix the problem may create a risk of other problems that are more serious or more likely to appear.

Basically, you have to prioritize resources. If you can propose a fix and make the case that the effort and risks associated with the fix exceed the risk associated with the attack, then maybe you have something. But "I have an obscure theoretical risk that might or might not materialize in the future under circumstances that might or might not be plausible, why don't you all work to fix it?" doesn't cut it.

You said the 21 million coin limit makes it unarguably a ponzi scheme. If we suddenly had mined all of the gold in the universe, would that magically make gold unarguably a ponzi scheme?

The limit has no influence on whether people perceive bitcoin to have value or not. However, as long as people perceive that it has value at all, the limit puts *positive* pressure on the price. You can't turn around and say that same limit is proof bitcoin is a ponzi scheme.

If by refuted you mean: waved hands at, blustered and ignored, sure.
If Amazon control the wallet, there would be no reason for them to have on-chain transactions in the first place, they would do the entire accounting in-house. Just like exchanges do already.

I guess you missed where I wrote the market cap will likely go to the $trillions first, and the market cap today is about $7 billion. So where does this "Shit! Sell sell sell!" nonsense come from?  

Who wrote about no more gold in the earth's crust?  

What universe are you reading from?

Somewhere in an alternate universe:

"Hey guys, we have definitive proof there's no more gold in the earth's crust."

"Shit! Sell sell sell!"

This line of thinking was already refuted. See my replies to JoelKatz.