From: Monarch <monarch@cock•li>
To: Justus Ranvier <justus@openbitcoinprivacyproject•org>
Cc: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] Your Gmaxwell exchange
Date: Mon, 31 Aug 2015 22:53:24 +0000 [thread overview]
Message-ID: <a02ace48700ff443b8904f14b23486c4@cock.li> (raw)
In-Reply-To: <55E4CD16.3010508@openbitcoinprivacyproject.org>
On 2015-08-31 21:54, Justus Ranvier wrote:
>
> You keep using the word "decentralized" without explaining (and most
> likely, understanding) what it means.
>
Decentralization is a ubiquitous term within the Bitcoin, and the
definition is by no measure new or often confused. It is realizing
that systems involving trusted third parties have undesirable
properties, be it regarding privacy, fraud, censorship, and removing
the effect of them as much as is physically possible. WASTE and
RetroShare are examples of decentralized messaging and file
distribution systems, acknowledging the privacy problems involved with
centralized systems like AOL Instant Messenger or IRC.
> 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?
>
Bitcoin is a decentralized currency which allows any person the
ability to transact in a way that does not require specific trust in
any particular party. Users can independently verify that
transactions they receive are valid and confirmed, with strong
confidence that they can not be reversed or modified. A third party
does not hold these same properties, there is no reason to believe the
information they present other than trust they will not lie, cheat, or
violate privacy at their own will. Given information by a trusted
third party (such as a balance or existance of transaction), a person
has no ability to independently validate their claims as you do in a
decentralized system.
next prev parent reply other threads:[~2015-08-31 22:53 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 [this message]
2015-08-31 23:24 ` Justus Ranvier
2015-09-01 0:02 ` Milly Bitcoin
2015-09-01 9:25 ` Jorge Timón
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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