3 lines
596 B
Plaintext
3 lines
596 B
Plaintext
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nakamoto scheme
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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.
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