Ray Dillinger: > the “currency” is inflationary at about 35% > as that’s how much faster computers get annually > … the inflation rate of 35% is almost guaranteed > by the technology Increasing hardware speed is handled: “To compensate for increasing hardware speed and varying interest in running nodes […]
Read moreRe: Bitcoin P2P e-cash paper
>[Lengthy exposition of vulnerability of a systm to use-of-force >monopolies ellided.] > >You will not find a solution to political problems in cryptography. Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting […]
Read moreRe: Bitcoin P2P e-cash paper
>> As long as honest nodes control the most CPU power on the network, >> they can generate the longest chain and outpace any attackers. > >But they don’t. Bad guys routinely control zombie farms of 100,000 >machines or more. People I know who run a blacklist of spam sending […]
Read moreRe: Bitcoin P2P e-cash paper
>Satoshi Nakamoto wrote: >> I’ve been working on a new electronic cash system that’s fully >> peer-to-peer, with no trusted third party. >> >> The paper is available at: >> http://www.bitcoin.org/bitcoin.pdf > >We very, very much need such a system, but the way I understand your >proposal, it does not […]
Read moreBitcoin P2P e-cash paper
I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party. The paper is available at: http://www.bitcoin.org/bitcoin.pdf The main properties: Double-spending is prevented with a peer-to-peer network. No mint or other trusted parties. Participants can be anonymous. New coins are made from Hashcash style […]
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