zooko

@zooko @ofnumbers There are not large economies of scale in running hashing power due to physics; there are in running near-scams, @cex_io

@petertoddbtc @zooko @cex_io i think that is debatable. if there were no economies of scale in compute then google wouldnt build datacenters

@ofnumbers @zooko Hashing is a much simpler task than computing, very few reliability concerns, privacy, etc. Can't compare the two at all.

@petertoddbtc @zooko i disagree. @jony_levin's research may suggest that block propagation/decrease orphan is incentive enough to centralize

@ofnumbers @zooko @jony_levin I'm very familiar, but that's for *mining* not hashing; #treechains aims to fix that issue. Also off-chain txs

@petertoddbtc @ofnumbers @zooko The faulty incentives in mining are engineering challenges that are being addressed.

@jony_levin Do tell! Please. I've been trying very hard to find an engineering solution. @petertoddbtc @ofnumbers

@zooko @jony_levin @ofnumbers Off-chains txs w/ fidelity bonding, hub-and-spoke micro payments channels, treechains, etc.

@zooko @ofnumbers don't assume the majority of usage now - speculation - represents 100% of what consumers want; BTC works for Silkroad, etc

@petertoddbtc @zooko that's true, but Silkroad is not as scalable as AMZN and currently does not offer wares most consumers have a need for

@ofnumbers @zooko But so what? Bitcoin - if it works - undeniably fills a niche that previously was unmet; both Bitcoin and fiat can coexist

@petertoddbtc @zooko i agree completely. but i do think illicit trading posts are overhyped for the value they could provide to average joe

@ofnumbers @zooko Again, I don't care! The relevant question is only if it fills a sufficient niche that its not 51% attacked.

@petertoddbtc @zooko well, again, we disagree. if you want mass adoption, you have to create an app that has mass appeal. silkroad isnt it

@ofnumbers @zooko I don't care about mass adoption; I care about serving a need. Again, fiat and #bitcoin can coexist.

@petertoddbtc @zooko i don't think we disagree on that last part. IMO, satoshi wasn't trying to build a marginal app, he wanted mass appeal

@zooko "or spin-offs using #treechains" <- I'm not sure what @ofnumbers thinks treechains are here; they're just a scalable block chain.

@zooko @twobitidiot @ofnumbers Huh? He says Satoshi "miscalculated" on SHA256 centralization, but S noted early that mining wld centralize.