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Date: Mon, 16 Jun 2014 22:46:47 +0200
Message-ID: <CANEZrP3P-EzS22QCSLuY8u42pZG7yTPNjoa4prQaSZzEjbxESg@mail.gmail.com>
From: Mike Hearn <mike@plan99.net>
To: Daniel Rice <drice@greenmangosystems.com>
Content-Type: multipart/alternative; boundary=001a1133446031e17704fbfa20cb
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>,
	Lawrence Nahum <lawrence@greenaddress.it>
Subject: Re: [Bitcoin-development] instant confirmation via payment protocol
 backwards compatible proto buffer extension
Precedence: list

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Content-Type: text/plain; charset=UTF-8

On Mon, Jun 16, 2014 at 10:37 PM, Daniel Rice <drice@greenmangosystems.com>
wrote:

> True, that would work, but still how are you going to bootstrap the trust?
> TREZOR is well known, but in a future where there could be 100 different
> companies trying to release a similar product to TREZOR it seems like one
> company could corner the market by being the only one that is an accepted
> instant provider at most vendors
>

It's no different to the CA problem. People can only mentally handle a few
trust anchors, so for SSL it goes:

   1 User -> 2-3 browser makers -> 100's of CAs -> millions of websites

The trust starts out narrowly funnelled and grows outwards as things get
outsourced.

For this it'd go

   1 merchant -> 4-5 payment processing engines -> dozens of hardware
manufacturers -> hundreds of thousands of devices

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Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote">On M=
on, Jun 16, 2014 at 10:37 PM, Daniel Rice <span dir=3D"ltr">&lt;<a href=3D"=
mailto:drice@greenmangosystems.com" target=3D"_blank">drice@greenmangosyste=
ms.com</a>&gt;</span> wrote:<br>
<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1p=
x #ccc solid;padding-left:1ex"><div dir=3D"ltr">True, that would work, but =
still how are you going to bootstrap the trust? TREZOR is well known, but i=
n a future where there could be 100 different companies trying to release a=
 similar product to TREZOR it seems like one company could corner the marke=
t by being the only one that is an accepted instant provider at most vendor=
s</div>
</blockquote><div><br></div><div>It&#39;s no different to the CA problem. P=
eople can only mentally handle a few trust anchors, so for SSL it goes:</di=
v><div><br></div><div>=C2=A0 =C2=A01 User -&gt; 2-3 browser makers -&gt; 10=
0&#39;s of CAs -&gt; millions of websites</div>
<div><br></div><div>The trust starts out narrowly funnelled and grows outwa=
rds as things get outsourced.</div><div><br></div><div>For this it&#39;d go=
</div><div><br></div><div>=C2=A0 =C2=A01 merchant -&gt; 4-5 payment process=
ing engines -&gt; dozens of hardware manufacturers -&gt; hundreds of thousa=
nds of devices</div>
<div><br></div><div><br></div></div></div></div>

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