[Bitcoin-development] Coinbase reallocation to discourage Finney attacks
justusranvier at gmail.com
Tue Apr 29 19:29:33 UTC 2014
-----BEGIN PGP SIGNED MESSAGE-----
On 04/29/2014 02:13 PM, Mike Hearn wrote:
> I do think we need to move beyond this idea of Bitcoin being some
> kind of elegant embodiment of natural mathematical law. It just
> ain't so.
I think everybody understands that Bitcoin has a positive net present
value exactly because it, unlike every other digital currency which
came before, does not include a feature that allows for balances to be
confiscated. Implementing any such feature, to any degree at all,
would render Bitcoin completely valueless.
There are two possibilities here:
If you understand this, then your proposal is a malicious attempt to
If you don't understand this then you suffer from a very serious case
of economic illiteracy, a case so bad that your continued
participation in Bitcoin represents a clear and present danger to all
Bitcoin users. If you can't even get the easy questions right, then
god help us all if you're ever faced with a difficult one.
I don't have enough evidence to distinguish between the incompetence
hypothesis and the malice hypothesis, but it doesn't matter.
Regardless of your abilities or motives your proposal is unacceptable.
If you want a currency where miners can vote to steal from other
miners then implement it in Hearncoin and leave Bitcoin alone.
Support online privacy by using email encryption whenever possible.
Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.22 (GNU/Linux)
Comment: Using GnuPG with Thunderbird - http://www.enigmail.net/
-----END PGP SIGNATURE-----
-------------- next part --------------
A non-text attachment was scrubbed...
Size: 21678 bytes
Desc: not available
More information about the bitcoin-dev