Mike Hearn [ARCHIVE] on Nostr: 📅 Original date posted:2014-04-10 📝 Original message:> > 1) There is no catch ...

📅 Original date posted:2014-04-10
📝 Original message:>
> 1) There is no catch 22 as there are plenty of ways getting bitcoin
> without bootstrapping a full node.
>

I think I maybe wasn't clear. To spend coins you need transaction data.
Today, the dominant model is that people get that data by scanning the
block chain. If you can obtain the transaction data without doing that
then, either:

1) Someone is doing chain scanning for free. See my point about "why pay if
you can get it for free".

2) You got your tx data direct from the person you who sent you the funds,
perhaps via the payment protocol. This would resolve the catch 22 by
allowing you to spend bitcoins without actually having talked to the P2P
network first, but we're a loooooong way from this world.

And that's it. I don't think there are any other ways to get the tx data
you need. Either someone gives it to you in the act of spending, or someone
else gives it away for free, undermining the charge-for-the-p2p-network
model.
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