People should read the whitepaper, specifically:
Eliminating “abuse” is not possible and shouldn’t be the goal. Even those who are attempting
to “abuse” the system are still doing work. Any compensation they get for their successful
attempts at abuse or collusion is at least as valuable for the purpose of distributing the
currency as the make-work system employed by traditional Bitcoin mining or the collusive
mining done via mining pools. All that is necessary is to ensure that abuse isn’t so rampant
that it undermines the incentive to do real work in support of the community and its
currency.
The goal of building a community currency is to get more “crabs in the bucket”. Going to
extreme measures to eliminate all abuse is like attempting to put a lid on the bucket to
prevent a few crabs from escaping and comes at the expense of making it harder to add new
crabs to the bucket. It is sufficient to make the walls slippery and give the other crabs
sufficient power to prevent others from escaping.
People should read the whitepaper, specifically:
Eliminating “abuse” is not possible and shouldn’t be the goal. Even those who are attempting
to “abuse” the system are still doing work. Any compensation they get for their successful
attempts at abuse or collusion is at least as valuable for the purpose of distributing the
currency as the make-work system employed by traditional Bitcoin mining or the collusive
mining done via mining pools. All that is necessary is to ensure that abuse isn’t so rampant
that it undermines the incentive to do real work in support of the community and its
currency.
The goal of building a community currency is to get more “crabs in the bucket”. Going to
extreme measures to eliminate all abuse is like attempting to put a lid on the bucket to
prevent a few crabs from escaping and comes at the expense of making it harder to add new
crabs to the bucket. It is sufficient to make the walls slippery and give the other crabs
sufficient power to prevent others from escaping.