Lately Craig has been talking about developers not understanding the economic incentives of bitcoin. Developers and researchers seem to be anxious about not having an air tight security system, and try to poke holes on it while disregarding the economic incentives. First of all, economic systems are notoriously hard to model. It is extremely difficult to model human greed accurately, the fact that Satoshi managed to not only model it, but to build a system that uses greed is truly the most revolutionary aspect of bitcoin. In this video i talk about GHash.io and how the economic incentives in bitcoin prevented a 51% attack and selfish mining without the need of any extra code. In the end Ghash.io went from consistently 40% Hashrate to 10% after reaching 51% briefly. Just the mere fact that Ghash.io reached a very controversial % of hashrate was enough to eventually destroy the company