,
and nodes can leave and rejoin the network at will, accepting the
longest proof-of-work chain as proof of what happened while they
were gone.
Full paper at:
http://www.bitcoin.org/bitcoin.pdf
Satoshi Nakamoto
-
The Cryptography
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 seem
.
The Bitcoin network might actually reduce spam by diverting zombie farms to
generating bitcoins instead.
Satoshi Nakamoto
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[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
, and a constant rate seems like
the best formula.
Satoshi Nakamoto
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think I will be able to release the code
sooner than I could write a detailed spec. You're already right about most of
your assumptions where you filled in the blanks.
Satoshi Nakamoto
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The Cryptography Mailing List
.
It's not a problem if transactions have to wait one or a few extra cycles to
get into a block.
Satoshi Nakamoto
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in
the chain, it is firmly etched into the global history.
Satoshi Nakamoto
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a proof-of-work for a block could be the total of the fees in
the block.
Satoshi Nakamoto
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to include all the paying transactions they receive.
Satoshi Nakamoto
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James A. Donald wrote:
It is not sufficient that everyone knows X. We also
need everyone to know that everyone knows X, and that
everyone knows that everyone knows that everyone knows X
- which, as in the Byzantine Generals problem, is the
classic hard problem of distributed data processing.
that simple altruism can suffice to keep the
network running properly.
It's very attractive to the libertarian viewpoint if we can explain it
properly. I'm better with code than with words though.
Satoshi Nakamoto
controlled.
Right.
You need coin aggregation for this to scale. There needs to be
a provable transaction where someone retires ten single coins
and creates a new coin with denomination ten, etc.
Every transaction is one of these. Section 9, Combining and Splitting Value.
Satoshi Nakamoto
anyway.
Satoshi Nakamoto
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is coming soon. I sent you the main files.
(available by request at the moment, full release soon)
Satoshi Nakamoto
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on open market competition, and there will
probably always be nodes willing to process transactions for free.
Satoshi Nakamoto
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Dustin D. Trammell wrote:
Satoshi Nakamoto wrote:
You know, I think there were a lot more people interested in the 90's,
but after more than a decade of failed Trusted Third Party based systems
(Digicash, etc), they see it as a lost cause. I hope they can make the
distinction
in the transaction's comment field.
If the system let users configure the minimum payment they're
willing to receive, or at least the minimum that can have a
message with it, users could set how much they're willing to get
paid to receive spam.
Satoshi Nakamoto
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