[Cryptography] Proof of Work is the worst way to do a BlockChain

[jamesd at echeque.com]

2018-02-23 12:43 GMT+03:00 <jamesd at echeque.com <mailto:jamesd at echeque.com>>:
>     Banks, notaries, accountants, lawyers, judges, they are all in the
>     trust business - and sooner or later a scandal hits, and they run to
>     the government - an organization not all that famous for
>     trustworthiness.

On 23/02/2018 18:31, Ersin Taskin wrote:
> I agree. However, I still insist that we must create a crypto system 
> that should be implemented robustly today. Today we need some of these 
> entities as peripehrals since the transformation will be an evolutionary 
> process rather than a revolutionary one. The people we try to convince 
> vary a lot in terms of priorities, attitudes towards banks, state, etc. 
> We, the cypherpunks, are soo the minority

The set of people who will use what we provide, if we provide a way 
around government, accountants, human resource departments, and banks, 
is an overwhelming majority.

There are things terribly wrong with Satoshi's  design.  It hitting 
scaling limits hard.  But it revealed huge demand.

Bitcoin may conquer the world, but if it does not, it will have been the 
napster of its time, showing us the way of the future.