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- I recently watched the Michael Saylor's debate of Bitcoin vs Gold. In the debate, he mentions that he thinks that the strong fiat money (e.g. US dollars) will be used on top of currency layer which will be on top of Bitcoin protocol. He also thinks this will benefit U.S. government.
I am kind of confused with his vision here because I think Satoshi's vision was creating a decentralized currency that is completely free from the Central Bank. If the US dollars are keep going to be used on top of the Bitcoin layer, how does that fix the current problem of the Central Bank printing infinite amount of money? I am not sure how Saylor's vision lines up with fixing the current problem in economy.
- I am wondering why mining in the proof of work mechanism validate the block. I get that miners have to spend good amount of computation to solve the puzzle, but I don't get why that would give reason for network to believe that miner is not malicious. It seems like miner is just doing unnecessary work. Is the main reason just to slow down the addition of the blocks?
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