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From: Justus Ranvier <justus@openbitcoinprivacyproject.org>
To: "Wladimir J. van der Laan" <laanwj@gmail.com>
Cc: bitcoin-dev@lists.linuxfoundation.org
Subject: Re: [bitcoin-dev] Your Gmaxwell exchange
Date: Wed, 2 Sep 2015 13:51:08 -0500	[thread overview]
Message-ID: <55E7451C.3010704@openbitcoinprivacyproject.org> (raw)
In-Reply-To: <20150901202938.GA4286@amethyst.visucore.com>


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On 09/01/2015 03:29 PM, Wladimir J. van der Laan wrote:
> On Mon, Aug 31, 2015 at 01:55:43PM -0500, Justus Ranvier via bitcoin-dev wrote:
> 
>> * They should own their bitcoins, meaning that they retain exclusive
>> control over their balances. Even more precisely, the network must
>> always honour the conditions of the scripts associated with unspent outputs.
>>
>> * Their fraction of the Bitcoin ledger must not be diluted.
>>
>> * When they decide to spend their coins, they will be able to do so
>> without requiring permission from a third party.
> 
> All of these properties are contingent on the system being decentralized.

That is not true, unless you are using a definition of the word
"decentralized" which is so broad as to convey no information whatsoever.

Saying that Bitcoin's security depends on decentralization is like
saying that a bridge's structural integrity depends on good materials.

Statements like that convey zero relevant information. Potential users
of a bridge want to know about the maximum working load of the bridge,
and under which conditions it is safe to use. At what wind speed should
the bridge be closed? Is it ok to keep using it after a magnitude 4
earthquake, or should it be closed for inspection?

Repeatedly asserting that bridges need to be made of good materials as
an alternative to answering those kinds of questions would be easily
recognized as useless in that context, but for some reason people seem
to accept it in this one.


-- 
Justus Ranvier
Open Bitcoin Privacy Project
http://www.openbitcoinprivacyproject.org/
justus@openbitcoinprivacyproject.org
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  reply	other threads:[~2015-09-02 18:58 UTC|newest]

Thread overview: 28+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
     [not found] <CAEgR2PFB3h_8fr=d8HegRSD0XdooimhFKtLR4vKr2QXv+EwBfQ@mail.gmail.com>
     [not found] ` <AD284610-4F40-445C-A074-CC94EDFFCBA8@gmx.com>
2015-08-30  3:25   ` [bitcoin-dev] Your Gmaxwell exchange Gregory Maxwell
2015-08-30  4:13     ` Peter R
2015-08-30  4:57       ` Gregory Maxwell
2015-08-30  6:38         ` Adam Ritter
2015-08-31 18:55           ` Justus Ranvier
2015-08-31 19:11             ` Mike Hearn
2015-09-01 20:29             ` Wladimir J. van der Laan
2015-09-02 18:51               ` Justus Ranvier [this message]
2015-09-01  2:30           ` Oliver Petruzel
2015-08-30  7:41         ` Peter R
2015-08-31 20:06 Monarch
2015-08-31 20:27 ` Justus Ranvier
2015-08-31 20:48   ` Monarch
2015-08-31 21:24     ` Allen Piscitello
2015-08-31 21:42       ` Monarch
2015-08-31 21:54         ` Justus Ranvier
2015-08-31 22:53           ` Monarch
2015-08-31 23:24             ` Justus Ranvier
2015-09-01  0:02             ` Milly Bitcoin
2015-09-01  9:25           ` Jorge Timón
2015-08-31 23:32       ` Peter R
2015-08-31 23:47         ` s7r
2015-09-01 11:44           ` Monarch
2015-09-01 11:11         ` Monarch
2015-09-01 15:59           ` Dave Collins
2015-09-01 16:51             ` Monarch
2015-09-01 18:37               ` Eric Voskuil
2015-09-01 20:08                 ` Monarch

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