Author: Hector Chu 2015-08-05 11:35:53
Published on: 2015-08-05T11:35:53+00:00
In an email conversation on 5 August 2015, Adam Back discusses the idea of a prediction market in block-size. Back questions the necessity of decentralization for the operation and security of such a complex market. He suggests that Bitcoin.org could run the exchange and use profits to fund Core development. However, he also notes that there is no guarantee of a secure parameter set and that security is a continuous variable that must be balanced against other concerns. Back warns that if security is threatened due to gradual block size increases, users' concerns may result in a bearish market. Ultimately, Back believes that while the concept is interesting, it risks creating an even more complex security problem rather than improving security incrementally.
Updated on: 2023-06-10T18:11:58.599254+00:00