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From: Justus Ranvier <justusranvier@gmail.com>
To: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] Coinbase reallocation to discourage Finney attacks
Date: Tue, 29 Apr 2014 19:29:33 +0000	[thread overview]
Message-ID: <535FFD9D.5010107@gmail.com> (raw)
In-Reply-To: <CANEZrP0E=i6gyJwvLZRTeKvqaVrxR69=UzJWsAqaK2=QSdtn_A@mail.gmail.com>

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On 04/29/2014 02:13 PM, Mike Hearn wrote:
> I do think we need to move beyond this idea of Bitcoin being some
> kind of elegant embodiment of natural mathematical law. It just
> ain't so.
> 

I think everybody understands that Bitcoin has a positive net present
value exactly because it, unlike every other digital currency which
came before, does not include a feature that allows for balances to be
confiscated. Implementing any such feature, to any degree at all,
would render Bitcoin completely valueless.

There are two possibilities here:

If you understand this, then your proposal is a malicious attempt to
undermine Bitcoin.

If you don't understand this then you suffer from a very serious case
of economic illiteracy, a case so bad that your continued
participation in Bitcoin represents a clear and present danger to all
Bitcoin users. If you can't even get the easy questions right, then
god help us all if you're ever faced with a difficult one.

I don't have enough evidence to distinguish between the incompetence
hypothesis and the malice hypothesis, but it doesn't matter.
Regardless of your abilities or motives your proposal is unacceptable.
If you want a currency where miners can vote to steal from other
miners then implement it in Hearncoin and leave Bitcoin alone.


- -- 
Support online privacy by using email encryption whenever possible.
Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k
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  parent reply	other threads:[~2014-04-29 19:31 UTC|newest]

Thread overview: 90+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2014-04-23  7:55 [Bitcoin-development] Coinbase reallocation to discourage Finney attacks Mike Hearn
2014-04-23  9:57 ` Andy Parkins
2014-04-23 11:07   ` Mike Hearn
2014-04-23 11:39     ` Andy Parkins
2014-04-23 11:45       ` Mike Hearn
2014-04-23 13:21         ` Andy Parkins
2014-04-23 13:31           ` Mike Hearn
2014-04-24  9:21             ` Andy Parkins
2014-04-23 12:43 ` Christophe Biocca
2014-04-23 12:51   ` Mike Hearn
2014-04-23 14:52 ` Justus Ranvier
2014-04-23 15:07   ` Mike Hearn
2014-04-23 17:19     ` Justus Ranvier
2014-04-23 17:47       ` Gavin Andresen
2014-04-23 17:49         ` Justus Ranvier
2014-04-23 17:57           ` Mike Hearn
2014-04-23 18:04             ` Justus Ranvier
2014-04-23 18:15               ` Peter Todd
2014-04-23 18:20                 ` Justus Ranvier
2014-04-23 18:37                   ` Mike Hearn
2014-04-23 18:49                     ` Justus Ranvier
2014-04-23 19:01                       ` Drak
2014-04-23 18:58                     ` Tier Nolan
2014-04-23 15:04 ` Alex Mizrahi
2014-04-23 15:09   ` Mike Hearn
2014-04-23 15:38     ` Alex Mizrahi
2014-04-23 16:04       ` Christophe Biocca
2014-04-23 16:19         ` Chris Pacia
2014-04-23 16:21         ` Mike Hearn
2014-04-23 16:33         ` Kevin
2014-04-24 11:22     ` Jorge Timón
2014-04-24 11:43       ` Mike Hearn
2014-04-24 13:57         ` Jorge Timón
2014-04-24 14:28           ` Mike Hearn
2014-04-24 15:37             ` Jorge Timón
2014-04-24 17:07               ` Justus Ranvier
2014-04-25  4:31             ` Gareth Williams
2014-04-25 10:17               ` Mike Hearn
2014-04-25 13:19                 ` Gareth Williams
2014-04-25 15:28                   ` Mike Hearn
2014-04-26 12:15                     ` Gareth Williams
2014-04-27  1:42                       ` Christophe Biocca
2014-04-27 12:53                         ` Gareth Williams
2014-04-27 14:31                           ` Mike Hearn
2014-04-27 23:10                             ` Gareth Williams
2014-04-28 21:41                           ` Adam Back
2014-04-29 14:13                             ` Mike Hearn
2014-04-29 14:21                               ` Gregory Maxwell
2014-04-29 14:26                                 ` Mike Hearn
2014-04-30 13:12                                   ` Gareth Williams
2014-04-30 13:55                                     ` Mike Hearn
2014-04-30 14:31                                       ` Gareth Williams
2014-04-29 19:29                               ` Justus Ranvier [this message]
2014-04-30 13:00                               ` Gareth Williams
2014-04-30 17:06                                 ` Troy Benjegerdes
2014-04-30 17:13                                   ` Jameson Lopp
2014-04-30 14:08                               ` Gareth Williams
2014-04-23 15:28   ` Peter Todd
2014-04-23 15:34 ` Kevin
2014-04-23 15:41   ` Pieter Wuille
2014-04-23 15:55     ` Peter Todd
2014-04-23 18:57 ` Gregory Maxwell
2014-04-23 19:19   ` Mike Hearn
2014-04-23 19:47     ` Gregory Maxwell
2014-04-23 19:59       ` Mike Hearn
2014-04-23 20:24         ` Gregory Maxwell
2014-04-23 20:37           ` Mike Hearn
2014-04-23 20:44             ` Adam Ritter
2014-04-23 20:51               ` Mike Hearn
2014-04-24 15:13                 ` Sergio Lerner
2014-04-24 15:34                   ` Mike Hearn
2014-04-23 20:53               ` Gregory Maxwell
2014-04-23 21:23                 ` Tier Nolan
2014-04-23 21:39                   ` Gregory Maxwell
2014-04-23 22:26                     ` Tier Nolan
2014-04-24  0:55                   ` Tom Harding
     [not found]                 ` <CAKuKjyWDniyP503XSw8=tK9XQW-T58j+VD6ajXCxz=HihN93mQ@mail.gmail.com>
2014-04-24 14:52                   ` [Bitcoin-development] Fwd: " Adam Ritter
2014-04-23 20:41         ` [Bitcoin-development] " Daniel Krawisz
2014-04-23 22:06     ` Alex Mizrahi
2014-04-24  7:58       ` Mike Hearn
2014-04-24  8:19         ` Gregory Maxwell
2014-04-24  8:39           ` Mike Hearn
2014-04-24  9:25             ` Gregory Maxwell
2014-04-24  9:56               ` Mike Hearn
2014-04-24 13:44                 ` Peter Todd
2014-04-24 14:09                   ` Mike Hearn
2014-04-24 14:47                     ` Christophe Biocca
2014-04-24 15:03                       ` Peter Todd
2014-04-24 16:05                         ` Christophe Biocca
2014-04-24 16:14                         ` Mike Hearn

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