As far as I understand "triple entry accounting" it extends the 2 standard entries from "double entry" by a third "transaction ID" entry that is part of a larger system which (ideally) is public knowledge and can be independently verified.
This poses a few interesting opportunities but also potential issues: Bitcoin for example has until now close to 43 million transactions recorded [https://blockchain.info/charts/n-transactions-total] (and some of them are not easily decoded or meaningful, so it can be a bit of a hassle to account for them correctly, but that's besides the point). If there were a way to encode this dataset into ledger (e.g. transactions between "Bitcoin:1abcdaddress" accounts) and then referencing the transactions/addresses in your actual private ledger, this could be of use for additional validation of transactions you enter, something like having the entire transaction database of your bank so you can finally make sense/use of that transaction ID. Also it might be a good thing to see some edge/extreme cases of ledger usage (e.g. calculating all balances of all addresses from Bitcoin genesis until now) with real world data... Are there actually some hard limits on what ledger can handle (Bitcoin transactions are already ~20 GB in binary format, if they get a bit expanded to fit into the text format of ledger, they might likely grow beyond 100 GB) size wise? Even outputs of a balance command would be several dozen MB of data. All in all it at least sounds like an interesting experiment - I however first would like to have some comments about feasability (I know that reading the data alone would take quite a bit of time, even from SSDs) and ideas where this might be going (some look-aside database that includes all transactions, similar to the currency conversion stuff, that gets only queried if there is a reference in the actual "private" ledger?). -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
