Author: Allen Piscitello 2015-08-31 21:24:13
Published on: 2015-08-31T21:24:13+00:00
The discussion revolves around the importance of decentralization for Bitcoin to be a useful alternative. The email conversation between Monarch and Justus Ranvier highlights the need to understand the value proof of work provides and the features that differentiate good money from poor money. Justus Ranvier criticizes Monarch's assumption that sweeping problems under the rug and distracting users with a word that means nothing is not a successful strategy in the long term. Monarch argues that the only perceivable value in proof of work is that it is decentralized and suggests that there are other companies that can act as a time stamping notary or host the SQL-based Bitcoin replacement if decentralization is not a requirement.
Updated on: 2023-06-10T21:31:07.036363+00:00