Re: Bitcoin P2P e-cash paper

2008-11-09 Thread Satoshi Nakamoto
Hal Finney wrote: it is mentioned that if a broadcast transaction does not reach all nodes, it is OK, as it will get into the block chain before long. How does this happen - what if the node that creates the next block (the first node to find the hashcash collision) did not hear about the

Re: Bitcoin P2P e-cash paper

2008-11-09 Thread James A. Donald
-- Satoshi Nakamoto wrote: The proof-of-work chain is the solution to the synchronisation problem, and to knowing what the globally shared view is without having to trust anyone. A transaction will quickly propagate throughout the network, so if two versions of the same transaction

voting by m of n digital signature?

2008-11-09 Thread James A. Donald
Is there a way of constructing a digital signature so that the signature proves that at least m possessors of secret keys corresponding to n public keys signed, for n a dozen or less, without revealing how many more than m, or which ones signed?

Re: voting by m of n digital signature?

2008-11-09 Thread Richard Salz
Is there a way of constructing a digital signature so that the signature proves that at least m possessors of secret keys corresponding to n public keys signed, for n a dozen or less, without revealing how many more than m, or which ones signed? Yes there are a number of ways. Usually they

Re: Bitcoin P2P e-cash paper

2008-11-09 Thread James A. Donald
Satoshi Nakamoto wrote: Increasing hardware speed is handled: To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they're generated too

Re: Bitcoin P2P e-cash paper

2008-11-09 Thread Satoshi Nakamoto
James A. Donald wrote: OK, suppose one node incorporates a bunch of transactions in its proof of work, all of them honest legitimate single spends and another node incorporates a different bunch of transactions in its proof of work, all of them equally honest legitimate single spends, and both

Re: Bitcoin P2P e-cash paper

2008-11-09 Thread Satoshi Nakamoto
James A. Donald wrote: The core concept is that lots of entities keep complete and consistent information as to who owns which bitcoins. But maintaining consistency is tricky. It is not clear to me what happens when someone reports one transaction to one maintainer, and someone else

Re: Bitcoin P2P e-cash paper

2008-11-09 Thread James A. Donald
Satoshi Nakamoto wrote: The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an