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 20:48:23 +0000 [thread overview]
Message-ID: <e786da226b8e9cfaad335454b299ffd5@cock.li> (raw)
In-Reply-To: <55E4B8C9.5030606@openbitcoinprivacyproject.org>
On 2015-08-31 20:27, Justus Ranvier wrote:
> You don't understand what value proof of work provides, or what
> features
> differentiate good money from poor money, and you can't make a
> defensible statement of Bitcoin's value proposition.
>
> Because you can't do these things, you assume nobody else can do them
> either and therefore the only way for Bitcoin to survive is to sweep
> the
> problem under the rug and distract users with a word that means nothing
> (and therefore means whatever the observer wants it to mean).
>
> This is not a strategy that can be successful in the long term.
Proof of work is probabilistic transaction ordering (and timestamping
by extension), the only perceivable value in it is that it is
decentralized. If you don't have that set as a requirement there are
plenty of companies around who will act as a time stamping notary for
you, just as there are many cloud services around to host the SQL-
based Bitcoin replacement.
next prev parent reply other threads:[~2015-08-31 20:48 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 [this message]
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
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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