Alex Khodaverdian No need to summarize the paper. 1) Bitcoin is designed to try to ensure consensus: that everyone has the same view of what blocks are in the blockchain. What could go wrong if it didn't provide consensus? The network would segment based on which chain you were looking at. I.e. you could spend money on one chain, and then go back and spend on another chain, assuming you had coins pre-fork. (This is actually what happened with all these Bitcoin Forks that occurred) 2) When a miner successfully mines a block (is the first to extend the existing chain by one block), they receive Bitcoins as a reward. If we eliminated this (eliminated both the coinbase reward and the transaction fees), what would go wrong? There would be no incentive the secure the network, and as a result, attacks on the network would become much easier as CPU power diminished.