📅 Original date posted:2015-02-12 📝 Original message:-----BEGIN PGP SIGNED ...

Justus Ranvier [ARCHIVE] /

npub1k2e…qd6m

2023-06-07 15:30:10

in reply to nevent1q…778y

📅 Original date posted:2015-02-12
📝 Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256

On 02/12/2015 03:20 PM, Natanael wrote:
> Multisignature notaries need to convince people to select them.
> They want to know that even with collateral, their funds won't be
> temporarily locked up and unspendable for days at a time.
>
> What services would miners provide here, do you think?
>
>> Well, sure. It's the same model governments use and is why being
>> a money
> transmitter in the USA is so difficult: you need to put up large
> sums of money as collateral and have your fingerprints taken 48
> times. Then you can start advertising to get customers!
>
> Obviously you need to have collateral to provide collateral. Can't
> make cryptographic verifiable guarantees if you don't have the
> resources to back them.

tl;dr: Bitcoin users aren't getting very excited about somebody's pet
hub-and-spoke project, so they decide to distribute a patch that will
change Bitcoin's behavior such that people are forced to adopt them.

Scorched earth, indeed.

- --
Support online privacy by using email encryption whenever possible.
Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k
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Author Public Key

npub1k2eekmevs6gg60df75qpjw4a2atmy89vx28c8zqq5jxy64tuzrws39qd6m

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Published at

2023-06-07 15:30:10

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