Paraphrasing Pierre:
🔥
Permissionless nature of mining is more important than the absolute size of the resources consumed in the mining process.
When “attacked” the system responds with an increasingly lucrative fee market that incentives others to mine without having to ask anyone.
Responsively Resistant. Tough only when you need to be. Kind of like the toughest kid in the school yard. Doesn’t have to fight all the time. Everyone knows the cost.
Leads to situation where humans *can’t* sustain attacks: too costly.
McCoy
npub18y…qx5t7
2024-06-28 21:05:22
Author Public Key
npub18y33vpqmudzm9wk9cnglgnrhqyu96c4l4tr59k2zw0gs5ep5a2kqjqx5t7Published at
2024-06-28 21:05:22Event JSON
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"content": "Paraphrasing Pierre:\n🔥\nPermissionless nature of mining is more important than the absolute size of the resources consumed in the mining process.\n\nWhen “attacked” the system responds with an increasingly lucrative fee market that incentives others to mine without having to ask anyone.\n\nResponsively Resistant. Tough only when you need to be. Kind of like the toughest kid in the school yard. Doesn’t have to fight all the time. Everyone knows the cost.\n\nLeads to situation where humans *can’t* sustain attacks: too costly.",
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