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Bob Mottram
2017-12-11 10:42:16 +00:00
parent cfc902eb6d
commit 7326f48980
4 changed files with 12 additions and 5 deletions
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docs/jargon.html
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@@ -18,7 +18,7 @@ Free Documentation License".
</p>
<H2>Generated</H2>
<p>
This file last generated Monday, 11 December 2017 10:37AM UTC
This file last generated Monday, 11 December 2017 10:42AM UTC
</p>
<H2>Glossary</H2>
@@ -6946,7 +6946,7 @@ This file last generated Monday, 11 December 2017 10:37AM UTC
</p>
<H4>nakamoto scheme</H4>
<p>
Originally coined by Preston Byrne, in which the modus operandi of Bitcoin is considered to be sufficiently dissimilar to a pyramid scheme to warrant the creation of a new term. In a pyramid scheme there is typically one villain at the top, but within a system like Bitcoin the prime mover is the algorithm and not any particular individual - even its original inventor. Like a pyramid scheme, the algorithm determines from the outset how value to get distributed within the system. What superficially appears impartial and coldly mathematical has a predetermined social outcome.
Originally coined by Preston Byrne, in which the modus operandi of Bitcoin is considered to be sufficiently dissimilar to a pyramid scheme to warrant the creation of a new term. In a pyramid scheme there is typically one villain at the top, but within a system like Bitcoin the prime mover is the algorithm and not any particular individual - even its original inventor. Like a pyramid scheme, the algorithm determines from the outset how value gets distributed within the system. What superficially appears impartial and coldly mathematical has a predetermined social outcome.
</p>
<H4>nano</H4>
<p>