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Date: Mon, 31 Aug 2015 16:24:13 -0500
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Even so, decentralization is a means to an end - not an end-goal. It is
essential for Bitcoin to be a useful alternative, of course.
On Mon, Aug 31, 2015 at 3:48 PM, Monarch via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> 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.
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
--047d7b10d0151b63ea051ea20e01
Content-Type: text/html; charset=UTF-8
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<div dir=3D"ltr">Even so, decentralization is a means to an end - not an en=
d-goal.=C2=A0 It is essential for Bitcoin to be a useful alternative, of co=
urse.</div><div class=3D"gmail_extra"><br><div class=3D"gmail_quote">On Mon=
, Aug 31, 2015 at 3:48 PM, Monarch via bitcoin-dev <span dir=3D"ltr"><<a=
href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org" target=3D"_blank">bi=
tcoin-dev@lists.linuxfoundation.org</a>></span> wrote:<br><blockquote cl=
ass=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;p=
adding-left:1ex"><span class=3D"">On 2015-08-31 20:27, Justus Ranvier wrote=
:<br>
<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1p=
x #ccc solid;padding-left:1ex">
You don't understand what value proof of work provides, or what feature=
s<br>
differentiate good money from poor money, and you can't make a<br>
defensible statement of Bitcoin's value proposition.<br>
<br>
Because you can't do these things, you assume nobody else can do them<b=
r>
either and therefore the only way for Bitcoin to survive is to sweep the<br=
>
problem under the rug and distract users with a word that means nothing<br>
(and therefore means whatever the observer wants it to mean).<br>
<br>
This is not a strategy that can be successful in the long term.<br>
</blockquote>
<br>
<br></span>
Proof of work is probabilistic transaction ordering (and timestamping<br>
by extension), the only perceivable value in it is that it is<br>
decentralized. If you don't have that set as a requirement there are<br=
>
plenty of companies around who will act as a time stamping notary for<br>
you, just as there are many cloud services around to host the SQL-<br>
based Bitcoin replacement.<div class=3D"HOEnZb"><div class=3D"h5"><br>
<br>
_______________________________________________<br>
bitcoin-dev mailing list<br>
<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org" target=3D"_blank">=
bitcoin-dev@lists.linuxfoundation.org</a><br>
<a href=3D"https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev" =
rel=3D"noreferrer" target=3D"_blank">https://lists.linuxfoundation.org/mail=
man/listinfo/bitcoin-dev</a><br>
</div></div></blockquote></div><br></div>
--047d7b10d0151b63ea051ea20e01--
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