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Add new critiques #3

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rene78 opened this issue Aug 8, 2021 · 0 comments
Open
3 tasks

Add new critiques #3

rene78 opened this issue Aug 8, 2021 · 0 comments
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good first issue Good for newcomers

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@rene78
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rene78 commented Aug 8, 2021 •
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  • Deflationary currencies cannot work (example of this argument in German). Rebuttal: very innovative society during gold standard.
  • Once all BTC are mined no one wants to mine anymore and Bitcoin gets insecure. Rebuttal: If BTC price in fiat terms continues to grow more then the mining reward in dollar terms will be as large as today's block reward. A Bitcoin transaction in today's dollar terms would be at least 10$ (for 1 sat/vbyte) though. 2nd layer solutions (e.g. Lightning) are essential.
  • Arguments in Trail of Bits - Are Blockchains Decentralized? Unintended Centralities in Distributed Ledgers. Rebuttal: No clue. My technical knowledge isn't at this level. Hopefully somebody can help out. BUT: Why has nobody tried to attack Bitcoin by exploiting the vulnerabilities stated in this report? Bitcoin runs pretty much flawlessly since 2009.
@rene78 rene78 added the good first issue Good for newcomers label Aug 8, 2021
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