JuAnHu's avatar
JuAnHu 5 months ago
I see. In the end both aspects are needed. Demand for censorship resistant transactions and private (or privacy preserving) mining.

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Yeah if you think about it gold was decentralized because anyone could go and take it out of the ground without permission. We need the same for bitcoin. This requires miner privacy. Unlike gold, once we reach a steady state (no subsidy) new bitcoin will only come from people transacting with it. So that's an added requirement that gold doesn't have.