finsave's comments

On: What Satoshi Did Not Know (2015) [pdf]

[finsave]

> protocol where miners are the ones to form blocks

Miner's would identify themselves

On: What Satoshi Did Not Know (2015) [pdf]

[finsave]

Bitcoin is economics.

Proof-of-Work relies on miners investing and competing. Miners that continually invest generally win - and those that do not, die. The stronger the system, the harder for Bitcoin enemies to subvert/takeover the system.

In 2008, miners used CPU's, several years later miners moved to GPU's, several years later miners moved to ASICs, and recently miners moved to data centers.

[heimatau → finsave]

> In 2008, miners used CPU's,

Umm. It's not that old, testnet maybe but not the public blockchain.