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1

The article linked argues that the end user controls the rules of BitCoin, much as the fans of a Soccer/Football team controls how the management of the team behaves. The question argues that, because the majority of end users can change the rules, if a majority of end users are dishonest, the proof-of-work system becomes useless because the group of end ...


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Suppose there's a zero proof-of-work cost. i.e., creating a block is free, computationally. (In practice, this is impossible, but please bear with me). If creating a valid block is free, then here's a way to "buy" something without actually spending any Bitcoin: You buy something using bitcoin. The block recording the transaction is added to the blockchain. ...


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