@kareem_carr Science is a public good, so from an economic perspective, it doesn’t matter who does it or where it is done (rationally, we want science to take place, but funded by others).
@cryptoswede1@PacArtCollect@CsTominaga@hascendp6 Craig is not Satoshi, but a fraud. Bitcoin is decentralised in the sense that the nodes do not trust each other, or exert control over one another. The protocol (consensus rules) does not need to be fixed, a central authority is needed to decide if, how and when it should change.
@cryptoswede1 Certainly, centralisation is an emergent behaviour driven by economic forces. But Satoshi’s goal was to build a decentralised electronic payment system. Satoshi was not an economist.
@PacArtCollect@CsTominaga@hascendp6 A system is said to be decentralised if it lacks a central authority. Satoshi is describing how a decentralised system (Bitcoin) might scale.
@CsTominaga@hascendp6@PacArtCollect Satoshi’s goal was to enable trusted electronic transfer of value between peers without recourse to a trusted third party. This meant building an electronic payment system that lacks a central authority. In other words, decentralisation was the whole point.
@hascendp6@PacArtCollect@CsTominaga This is the strongest evidence that Craig doesn’t understand Bitcoin at the most fundamental level. Of course, decentralisation was the whole point.
@CsTominaga A transaction tax would reduce liquidity, increase volatility, increase the cost of capital, reduce growth in productivity, shrink the economy, reduce wages and reduce total tax revenue.
TTP Cambridge Half Marathon 2O25
1h 28m 32s
871st out of 13575
20th out of 508 M55–59
Pain in my right quad slowed me down and made me consider quitting, but thankfully I recovered.