Replying to Avatar Jan Kotas

I see a bigger problem in “the state will rob you through taxation or money printing to get more bitcoin before you.” They want YOUR money to buy THEIR bitcoin. How could any bitcoiner support this?
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Neal 7mo ago 💬 1

nostr:nprofile1qqsy7nuzs3nf3lmx4e06n7k5crzwk7pr47c8l204f65azhcjz7hfdnqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzyrhwden5te0dehhxarj9emkjmn9ahmsgh I don’t like the idea of the state getting stronger from sound money, but I understand the game theory, non cooperative players, even hostile enemies, all seeking their own selfish interests, will adopt the optimal strategy, stacking sats, to the benefit of all.

even your enemies behave cooperatively with a nash equilibrium, which is exactly what btc is.

so as long as your a bitcoiner, it’s still in a bitcoiner’s interest. the no coiners would really be getting bent over. and they no doubt will want someone to blame.

but the horse is already out of the barn. satoshi let it out into the world

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Dr. Bitcoin, MD 7mo ago 💬 1

I wouldn’t assume everyone works together to make your bitcoin more valuable. Killing and stealing are valid moves in the game of world domination.

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Neal 7mo ago 💬 1

it’s not an assumption

valid moves sure, people can and will try to cheat, but they aren’t optimal for pursuing your own self interest in a nash equilibrium.

if you try to cheat the system, you don’t just lose a little, you are extinguished.

the incentives only rachet one way, the most profitable and certain move is always to strengthen the network, making it more valuable.

the nash equilibrium game theory is a rabbit hole i’m happy i jumped down. much more to learn as always, but im happy i was able to make it as far as i did

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Dr. Bitcoin, MD 7mo ago 💬 1

Perhaps you are right, allowing for large number of trials, but I think the system that rewards theft and murder will persist longer than expected.

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Neal 7mo ago

that’s correct if it rewards such behavior.

i guess the physical attacks to make someone give up there keys would be one way, but a person could take their keys to the grave

or scammers using malicious software to steal the keys.

multisig, geographically separated, type of measures can make such external physical attacks almost reward less.

I think it’s still compelling that when one faces the fork in the road, invest your energy into strengthening the network or in an attempt to exploit it, the optimal move is just to strengthen it.

Risking much or all for diminimous probabilities of success.

Hopefully it plays out that way