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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Coinbase reallocation to discourage
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--089e0118226c3c232704f7b445f5
Content-Type: text/plain; charset=UTF-8
>
> You're still being unfair to bitcoin. Not everyone who uses bitcoins will
> be dishonest. The dishonest 5% hashing power is not going to be used in
> 100% of any given merchants transactions.
>
OK, sure, let's say most Bitcoin users will be honest (we hope). But
unfortunately in a situation where fraud is possible users wouldn't
necessarily distribute evenly over transactions.
Back when I worked on Gmail, we did a little study where we selected a
random subset of email accounts from Nigeria and waited to see if they
received abuse reports, showed up on dating site blacklists etc. It turned
out about 2/3rds of them did. This obviously doesn't imply that 2/3rds of
all Nigerians are scammers, but unfortunately the few that are are
responsible for a disproportionate number of account creations.
If a merchant is selling something of value repeatedly, then a small number
of scammers can go back and try their luck over and over. I'm not sure how
many trades fall into such an exploitable category, though.
Also, there's the philosophical question of how honest people really are
when there's no consequences to their actions. For instance, if most people
were honest, then piracy would be not a big problem. But game studios that
have cracked DRM quite often report piracy rates of 95%, i.e. for every 5
sales they make, they get 100 people playing on their servers - the vast
majority of their users are not honest.
--089e0118226c3c232704f7b445f5
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote"><blo=
ckquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #c=
cc solid;padding-left:1ex"><div class=3D"">You're still being unfair to=
bitcoin. =C2=A0Not everyone who uses bitcoins will<br>
</div>
be dishonest. =C2=A0The dishonest 5% hashing power is not going to be used =
in<br>
100% of any given merchants transactions.<br></blockquote><div><br></div><d=
iv>OK, sure, let's say most Bitcoin users will be honest (we hope). But=
unfortunately in a situation where fraud is possible users wouldn't ne=
cessarily distribute evenly over transactions.</div>
<div><br></div><div>Back when I worked on Gmail, we did a little study wher=
e we selected a random subset of email accounts from Nigeria and waited to =
see if they received abuse reports, showed up on dating site blacklists etc=
. It turned out about 2/3rds of them did. This obviously doesn't imply =
that 2/3rds of all Nigerians are scammers, but unfortunately the few that a=
re are responsible for a disproportionate number of account creations.</div=
>
<div><br></div><div>If a merchant is selling something of value repeatedly,=
then a small number of scammers can go back and try their luck over and ov=
er. I'm not sure how many trades fall into such an exploitable category=
, though.</div>
<div><br></div><div>Also, there's the philosophical question of how hon=
est people really are when there's no consequences to their actions. Fo=
r instance, if most people were honest, then piracy would be not a big prob=
lem. But game studios that have cracked DRM quite often report piracy rates=
of 95%, i.e. for every 5 sales they make, they get 100 people playing on t=
heir servers - the vast majority of their users are not honest.</div>
<div><br></div></div></div></div>
--089e0118226c3c232704f7b445f5--
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