Re: [Bitcoin-development] Monetary Authority for Bitcoin

[Jameson Lopp <jameson.lopp@gmail.com>]

To piggyback on Jeff,

Any proposal that is going to add reliance upon data from third parties
outside of the Bitcoin network itself is likely going to be rejected
outright. This opens far too many potential vulnerabilities.

"The exchanges that are kept track of could be hard coded into Bitcoin
or the miner could choose, how this works is not something I'm
personally focused on."

Yeah... you can't just gloss over a little detail like that. There must
be consensus between the miners, otherwise a solved block will be
rejected by a miner's peers.
--
Jameson Lopp
Software Engineer
Bronto Software, Inc

On 12/09/2013 06:10 PM, Jeff Garzik wrote:
> On Mon, Dec 9, 2013 at 7:23 PM, Ryan Carboni <ryan.jc.pc@gmail.com> wrote:
>> It is not a violation of the trust of those holding the currency. Many
>> people bought Bitcoin in the hopes that it's value in the relation of other
>> currencies will increase, not because there's a fixed money supply. The
>> majority of people using Bitcoin as a currency in exchange for real goods
>> are using the exchanges.
> 
> Your proposal has been met with widespread laughter.  Were I not ill
> with the flu, mockery would ensue as well.
>