On Tue, Apr 29, 2014 at 12:05 PM, Joerg Platzer <joerg@???> wrote:

> --->
> "Bitcoin mining was a weak point in the design though I can't think of
> a better solution. I think Satoshi underestimated Moore's Law and the
> impact of innovation driven by greed publicly justified by an intent for
> wide-spread adoption. I predict the 21 million bitcoin limit will be
> reached much sooner than 2140."
> <---
>
> No, you need to look into the mining mechanism and the adaption of the
> difficulty and once you understand that you will understand that math is
> not weak and that greed cannot beat mathematics and that Moore's law has no
> influence on that.
>

Agreed, I need to know more about the mining mechanism. However, I didn't
say the math was weak. I should have said the biggest miners have more
influence. So far, the biggest miners and bitcoin holders worry me.


> Math makes the difficulty of mining adapt to the greed and that's not a
> "weak point in the design" but outright brilliant.
>

"Adapting to the greed" sounds cool. If that is part of the bitcoin design,
then it is definitely political.


> ++jp
>

John