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And how does this relate to my argument about the cost of mining leading to economic centralization? Anyone can still create a website, but the web is effectively centralized by data. Bitcoin followed a similar path even faster than the web, but centralized by mining costs.
You are confusing, among other things, mining hash power with control of addresses, they are two very different things.
Hey Tim, come on my show and we can talk though this stuff. Twitter is a bad medium when there is so much ground to cover. DM me.
Happy to talk. Agree that Twitter is a bad medium for any conversation of substance.
Worth noting how generous this is. Tim is a household name — very famous and very successful and he’s agreed to talk to a relative nobody about a topic that’s of interest. I’m not saying we will agree on everything, but that’s damn cool of him.
Generous? WTF? He is using his huge megaphone to propound strong opinions on a topic he knows that he is ignorant about. His abuse of his celebrity does not entitle him to a free education.
It was generous to jump on a call with me - I've got nothing to offer him. The last thing I want to do is piss off either of my heros, but I think after you listen to our conversation you will agree that some of the problem is miscommunication due to overloaded words.
I’d really be happy to be educated about this. Or at least to hear the arguments about why I’m wrong. But I’ve talked to a surprising number of cryptocurrency nerds who seem to agree with me.
Sure, but my tutoring rates are rather steep.
@timoreilly DMed me and agreed to come on my show to talk.
That said I am no @NickSzabo4 so that should happen too (and is much more important).
Also you cannot conflate pool hashrate with actual ownership of the hardware itself. It’s easy to look at things on a superficial level without understanding how it actually works.
Re: Hashrate and mining pools, what about @TheBlueMatt and the better hash protocol. Further @saifedean has addressed this ownership issue. Over time productive people will come to own bitcoin through productivity. Current holders must spend it down over time, making issue moot
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