Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 2B6471252 for ; Mon, 31 Aug 2015 20:48:25 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from cock.li (cock.li [176.9.0.140]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id B29AD1B1 for ; Mon, 31 Aug 2015 20:48:24 +0000 (UTC) MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8; format=flowed Content-Transfer-Encoding: 7bit Date: Mon, 31 Aug 2015 20:48:23 +0000 From: Monarch To: Justus Ranvier In-Reply-To: <55E4B8C9.5030606@openbitcoinprivacyproject.org> References: <602b978abcedd92fbed85f305d9d7bfe@cock.li> <55E4B8C9.5030606@openbitcoinprivacyproject.org> Message-ID: X-Sender: monarch@cock.li User-Agent: Roundcube Webmail/0.9.5 X-Spam-Status: No, score=-1.9 required=5.0 tests=BAYES_00,T_RP_MATCHES_RCVD autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: bitcoin-dev@lists.linuxfoundation.org Subject: Re: [bitcoin-dev] Your Gmaxwell exchange X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 31 Aug 2015 20:48:25 -0000 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.