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immibis
immibis
2:18 AM
@rapt Let's say there was a cryptocurrency where mining rate is proportional to the number of nodes you control. Let's say you had a private network with 1000000 nodes, and the whole network is connected to the internet through one node. That would be expensive because you'd need to buy a million computers. But let's say that instead, I run a simulation of 1000000 nodes on one computer.
That's much cheaper and I still earn the same mining power as the guy who legitimately has a million computers.
To combat this, nodes would need to be expensive, by designing the system so that each node needs to use a certain amount of CPU and/or memory. And then we're back to PoW.
It might be possible to use something like IP addresses, so that instead of fucking over the environment, Bitcoin would fuck over the Internet.
 
 
4 hours later…
rapt
rapt
6:19 AM
@immibis Have you read the article I linked to in my post? It directly tries to explain why your way of thinking ignores the real power that controls a system like Bitcoin.
 

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