I have finally worked out what BTC uses. It is not Proof of…

Bitcoin Dictionary ·

I have finally worked out what BTC uses.
It is not Proof of Work.
Work would require work.
The blocks arrive. The transactions dribble through. The protocol changes never stop. Yet somehow the work itself remains remarkably absent.
No, BTC has pioneered a revolutionary consensus mechanism.
Proof of Dimwit.
Under Proof of Dimwit, the objective is simple. Gather the largest possible collection of people who have not read the system, do not understand the system, and cannot explain the system, then persuade them to repeat whatever slogan the current developer priesthood has printed on this week's pamphlet.
Once a sufficiently large congregation of the bewildered has been assembled, preferably somewhere north of two-thirds of the available dimwits, consensus is achieved.
Not technical consensus.
Not economic consensus.
Not market consensus.
Dimwit consensus.
The proposal itself is almost irrelevant. The purpose is not to determine whether an idea is correct. The purpose is to determine whether enough people can be convinced to repeat it loudly.
And that is how you end up with the modern miracle of BTC: a system allegedly designed to remove trusted authorities that now requires a permanent class of authorities to explain what everyone is allowed to believe.
The old system was simple.
You did the work.
The new system is simpler.
You collect dimwits.
Apparently, that scales better.
Written by S. Tominaga