On 2011-07-20 11:24 PM, Ian G wrote:
Well, it's clearly inefficient, but that's a design feature :) Privacy
can't really be claimed as it has a public database, and it's a sucker
for datamining. Latency I gather has its issues too.
A distributed currency requires a consensus as to who owns what coins.
I transferred a few cents worth of bitcoins between one identity and
another. It took a very long time for the first confirmations to come
in. After a few days, there were a couple of hundred confirmations - a
consensus so large as to be entirely irreversible.
But a couple of hundred confirmations is a significant communication
overhead, and has an impact on privacy.
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