Thread - Nostr Hypermedia

The security model hinges on the nodes ability to to dictate rules of a network. If: - Nodes don't matter unless they are exchanges or miners, - If UASFs fail WITHOUT nodes employing URSFs, - Miners can ignore enforcement due to ambivalent nodes, Then: Miners control the network. And who are miners? Those with the most Electricity and Machines. Who has the most Electricity and Machines? Governments or their proxies.

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Replies (2)

gsovereignty gsovereignty@nostrovia.org 1 week ago

100% of the power over the bitcoin protocol is held by the rolling set of individuals who are receiving bitcoin in exchange for something else. A node’s power over the rules of the network is directly proportional to what goods/services (or other currencies) will be withheld from a trade if that node rejects a transaction. Miners and developers etc only have power that is given to them by that set of participants. If they ignore those participants then devs write code no one will run, and miners mine a coin that no one will buy.

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JackTheMimic 1 week ago

Never heard of a pump and dump, eh? The people using the coin THINK it has value, the devs and miners rug them... That's how it works.

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