Mises Weekends - Saifedean Ammous, page-11

  1. 898 Posts.
    "a miner has incentive to secure the network. "

    A miner is a human or a group of humans. A mining company is just metaphor for multiple individuals working in an agreement engage in activity which they believe to the best of their knowledge is within their self interest. Therefore, miners (And all humans) only act in their self interest. However Bitcoin is designed in such a way that their self interest is dominantly the security of the network.

    "in bitcoin ,biggest blocks win."

    Btrash Craig is certainly winning so far on its pursuit of lower purchasing power. I think I've even found a use case for this: Nostalgia. If I naively believe that Btrash Craig is Bitcoin, I can visit prices lower than before even when I bought it back in 2013.

    Also, you don't have bigger blocks. You have smaller blocks, much much smaller blocks. Your average blocksize on Btrash craig appears to be about 2-3 Kilobytes.The average Bitcoin block at the moment is about 1200 Kilobytes. You are in essence, a 'small blocker', because the market rejected your product.
 
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