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gwern comments on Less Wrong used to like Bitcoin before it was cool. Time for a revisit? - Less Wrong Discussion

16 Post author: betterthanwell 20 June 2012 01:40PM

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Comment author: gwern 20 June 2012 04:50:11PM 13 points [-]

Gwern wrote an article arguing that Bitcoin is an ugly protocol : Bitcoin is Worse is Better. What does gwern think today?

I actually finished that a month or two ago, so it reflects my current sentiments. No events have substantially changed my opinion, and some reinforce them - for example, I thought it was very stupid for anyone to engage in finalization on Silk Road (releasing your money from escrow to the vendor before receiving anything), and indeed, a big vendor recently scammed buyers out of something like a hundred thousand plus dollars worth of bitcoins by requiring finalization and then absconding.

Comment author: betterthanwell 20 June 2012 05:37:46PM *  2 points [-]

Damn fine writing in that essay. Some of the only intelligent criticism I've seen of the protocol.

Comment author: gwern 20 June 2012 07:01:24PM 2 points [-]

Thanks.