From: "Jorge Timón" <jtimon@jtimon•cc>
To: Justus Ranvier <justus@openbitcoinprivacyproject•org>
Cc: Bitcoin Dev <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Your Gmaxwell exchange
Date: Tue, 1 Sep 2015 11:25:03 +0200 [thread overview]
Message-ID: <CABm2gDqu_swZ7auR3jXkoQnbJ6AHEoz7+e8ev7VSdKynMj74iw@mail.gmail.com> (raw)
In-Reply-To: <55E4CD16.3010508@openbitcoinprivacyproject.org>
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On Aug 31, 2015 3:01 PM, "Justus Ranvier via bitcoin-dev" <
bitcoin-dev@lists•linuxfoundation.org> wrote:
> You keep using the word "decentralized" without explaining (and most
> likely, understanding) what it means.
I believe he explained very well what he meant by decentralized, please
stop suggesting he doesn't understand his own thoughts: it is extremely
irritating.
> You say:
>
> > a system without the trust of third parties to process electronic
payments
>
> What does it mean to use a decentralized network instead of a trusted
> third party to process electronic payments? What undesirable actions can
> a trusted third party perform that a decentralized network can not
perform?
For starters, a third party (or a recuded group of miners controlling the
majority of the hashrate) can censor transactions. It doesn't matter how
benevolent that party is: it can be forced to do it by the laws of its
jurisdiction.
If you don't care about this, I suggest you start a new system without
expensive proof of work, you can replace it with block signing (it can
still be multisig). It is already coded, just fork the alpha or the
blocksigning branch in elementsProject (github).
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next prev parent reply other threads:[~2015-09-01 9:25 UTC|newest]
Thread overview: 35+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-31 20:06 Monarch
2015-08-31 20:27 ` Justus Ranvier
2015-08-31 20:48 ` Monarch
2015-08-31 21:24 ` Allen Piscitello
2015-08-31 21:42 ` Monarch
2015-08-31 21:54 ` Justus Ranvier
2015-08-31 22:53 ` Monarch
2015-08-31 23:24 ` Justus Ranvier
2015-09-01 0:02 ` Milly Bitcoin
2015-09-01 9:25 ` Jorge Timón [this message]
2015-08-31 23:32 ` Peter R
2015-08-31 23:47 ` s7r
2015-09-01 2:16 ` [bitcoin-dev] Let's kill Bitcoin Core and allow the green shoots of a garden of new implementations to grow from its fertile ashes Peter R
2015-09-01 2:25 ` Gregory Maxwell
2015-09-01 8:42 ` Adam Back
2015-09-01 10:16 ` Chris D'Costa
2015-09-01 11:20 ` Monarch
2015-09-01 12:24 ` Wladimir
2015-09-01 22:06 ` s7r
2015-09-01 11:44 ` [bitcoin-dev] Your Gmaxwell exchange Monarch
2015-09-01 11:11 ` Monarch
2015-09-01 15:59 ` Dave Collins
2015-09-01 16:51 ` Monarch
2015-09-01 18:37 ` Eric Voskuil
2015-09-01 20:08 ` Monarch
[not found] <CAEgR2PFB3h_8fr=d8HegRSD0XdooimhFKtLR4vKr2QXv+EwBfQ@mail.gmail.com>
[not found] ` <AD284610-4F40-445C-A074-CC94EDFFCBA8@gmx.com>
2015-08-30 3:25 ` Gregory Maxwell
2015-08-30 4:13 ` Peter R
2015-08-30 4:57 ` Gregory Maxwell
2015-08-30 6:38 ` Adam Ritter
2015-08-31 18:55 ` Justus Ranvier
2015-08-31 19:11 ` Mike Hearn
2015-09-01 20:29 ` Wladimir J. van der Laan
2015-09-02 18:51 ` Justus Ranvier
2015-09-01 2:30 ` Oliver Petruzel
2015-08-30 7:41 ` Peter R
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