maybe a new thing?

[Kiopa_Matt]

So this is not distributed. Read the FAQ.

Maybe I'm wrong, but I see things like this on their site:

"With decentralised nodes running in multiple geographies and jurisdictions"

"This problem has been solved by totally distributed systems, like Bitcoin."

Then below that you have three images, and they screwed up on them:

Maybe it's just me with a weird way of seeing things, but those should be the other way around. The decentralized image looks like parent / child nodes communicating with each other, whereas the distributed image looks like just a large blob of nodes. Should be the other way around.

Then just below that you see things like:

"Small amounts of trust reap huge gains in efficiency."

Who am I trusting, and why? The trust implies distributed network. Bitcoin is inherently a very bitter and distrustful protocol, and basically assumes everything is gets told is a lie, until a consensus is reached.

Then just after you see:

hyperledger can evolve the current system to bring the benefits of revolutionary distributed systems.

Ok, now I'm confused. A paragraph up they were saying they're decentralized, and now they're saying their distributed. Huh?

Then under the premiumpool description you see:

Restrictions and requirements for operating a consensus node are more stringent and claims made by ledgers are audited.

What's a consensus node, and why should I trust it? And who's doing the auditing, and why should I trust them? The FAQ doesn't explain that, and again, both imply distributed system.

EDIT; If you think I'm being harsh, I'm not. Go to #bitcoin IRC channel on irc.freenode.net, and ask what they think. They'll tear you a new asshole.

 

[lukep]

If people with guns come to your house, you'll do whatever they say. Sure, there's a small chance you become a martyr, but so what? They'll just get the next guy who takes your place to do their bidding.

This misses the point of PoW entirely.

WHEN people with guns and nice federal IDs come to some poor bastard's door and say they're taking over, yes, they can do whatever they like with the power centralized at that source.

But that power is so fragile Matt. Hundreds of bloggers and services like blockchain.info, bitcoinpulse, and Coinometrics all over the world are watching it like a hawk, in real time, and will KNOW the moment a doublespend or attack happens from it.

So like Andreas says: "Sure, they can mess with us for 10 minutes, Whoopdedoo."

In the case of them somehow getting the majority of hashing power without using the pools, we would defeat them within a half hour by a coordinated response between the head-devs and the miners to block out their IPs and simply Tivo back the blockchain a few minutes to before the attack.

With the case of a mining pool however, that's not even necessary. The word of the attack will spread so fast that without any 'officially' coordinated attack at all, most miners will jump out of that pool within the same half hour, making the pool not a worthy weapon against us anymore. His stolen coins can be refused by miners after the fact; but during the attack the fedcoats will have spent all that time, effort, money, and reputation just to be defeated by reddit. :xmas-smiley-016:

I think the current hope is that bitcoin is so large now, it simply takes too many resources to make 51% worthwhile.

That was clearly Satoshi's plan from the start.

Remember: More miners create more security. More security spawns more confidence. More confidence ensures more adoption. More adoption creates higher value. Higher value attracts more miners. More miners create more security. More security spawns more confidence. More confidence ensures more adoption. More adoption creates higher value. Higher value attracts more miners. More miners create more security. More security spawns more confidence. More confidence ensures more adoption. More adoption creates higher value. Higher value attracts more miners...

Until there is only one currency in use.

 

[lukep]

Maybe I'm wrong, but I see things like this on their site:

Bitcoin, as Satoshi first conceived it, was indeed fully distributed.

Pools partially centralized a part of it that is less dangerous to centralize, but we can get rid of that again. P2Pool will eventually be the best pool, and the only one needed. (making mining fully distributed again.)

Then below that you have three images, and they screwed up on them:

That image sucks. Try this one:

Decentralized is merely removing the Empire and replacing it with an Oligarchy. Distributed is making a complete anarchy.