Author: Peter R 2015-11-15 17:06:58
Published on: 2015-11-15T17:06:58+00:00
Peter and Jorge discuss Bitcoin's consensus rules, specifically in relation to block size limits and property enforcement. Peter argues that the network of miners and node operators being net-econo-rational is a core axiom for Bitcoin to be viable. He also acknowledges that while two competing forks can persist for a short amount of time, it is unknown if they could persist indefinitely. However, he suspects that the forkbitrage, facilitated by exchanges or futures markets, would create an unstable equilibrium where coins on one side devalue, causing miners to abandon that side in favour of the other, ultimately killing the fork. Peter concludes by emphasizing that cryptocurrency is a new area of interdisciplinary research, and no one knows how things will unfold.
Updated on: 2023-06-11T00:38:01.667666+00:00