Author: Gregory Maxwell 2012-12-04 21:41:58
Published on: 2012-12-04T21:41:58+00:00
The author discusses the limited time window for marketing initiatives, citing Linux desktops as an example. While the Year of the Linux desktop may have been a joke, Linux has become ubiquitous in other areas such as servers and smartphones. The author believes that Bitcoin may have missed its first fad window but could still become the money system infrastructure. The author argues that having as many full nodes as possible is important for security, even if not every person runs one. Tor is used as an example of a successful P2P network with more users than nodes, but the trust model in Bitcoin is stronger. The value of Bitcoin comes from the soundness of its properties and persistence of its security, so any disruption to the distributed ledger can be irreversible and damage confidence in the system. The author suggests that sending a clear and consistent message asking for help is not enough, and instead advocates for maximizing investment in keeping the full node software usable. The cost of switching to lite nodes is emphasized, as is the importance of having as many full nodes as possible to ensure security.
Updated on: 2023-05-19T16:22:36.485142+00:00