Law and Justice in John F Nash Jr.’s Ideal Money and Bitcoin

“A certain percentage of fraud is accepted as unavoidable.” Bitcoin: A Peer-to-Peer Electronic Cash System, 2008

Law and Justice in John Nash’s Game Theory

“…players of a REPEATED game of “prisoners’ dilemma” can have a good cooperative equilibrium (in an infinitely repeated game context) where each player has, strategically, a DEMAND that the other player should play in an approved cooperative fashion (thus a fashion not betraying either prisoner to the adverse judgment of the police and magistrates).” John Nash, Agencies Method, 2010

“To have the better sort of a money in use (combined also, perhaps, with a good culture of procedures of law and justice, and with public transport vehicles running on schedule, and electricity supplies of ample quantity and good reliability) will naturally tend to favor economic progress and, in the long run, higher living standards for the human population”. John Nash, Ideal Money and Asymptotically Ideal Money, 2010

Why Proof of Work Matters

“Proof-of-work has the nice property that it can be relayed through untrusted middlemen. We don’t have to worry about a chain of custody of communication. It doesn’t matter who tells you a longest chain, the proof-of-work speaks for itself.” Satoshi Nakamoto, 2010

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store