

Game Theory and Bitcoin - rxl
https://freedom-to-tinker.com/blog/felten/game-theory-and-bitcoin/

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deepblueocean
The important part of this post is here:

 _But the most important question about the dynamics of Bitcoin mining, which
nobody has yet answered, is whether there is an equilibrium that can actually
occur in which the Bitcoin economy can no longer function. This is the
question that everyone would like to answer._

Indeed, the Cornell attack on Bitcoin mining claims to demonstrate that
Bitcoin is not incentive compatible. This claim is demonstrably wrong. The
burden of proof is on the original authors to rebut their (correct)
detractors.

