From mboxrd@z Thu Jan 1 00:00:00 1970 Received: from sog-mx-4.v43.ch3.sourceforge.com ([172.29.43.194] helo=mx.sourceforge.net) by sfs-ml-2.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1WdLqK-0006o9-Dm for bitcoin-development@lists.sourceforge.net; Thu, 24 Apr 2014 15:45:44 +0000 Received-SPF: pass (sog-mx-4.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.214.172 as permitted sender) client-ip=209.85.214.172; envelope-from=mh.in.england@gmail.com; helo=mail-ob0-f172.google.com; Received: from mail-ob0-f172.google.com ([209.85.214.172]) by sog-mx-4.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1WdLqI-0005G8-G3 for bitcoin-development@lists.sourceforge.net; Thu, 24 Apr 2014 15:45:44 +0000 Received: by mail-ob0-f172.google.com with SMTP id wo20so2855823obc.17 for ; Thu, 24 Apr 2014 08:45:37 -0700 (PDT) MIME-Version: 1.0 X-Received: by 10.60.76.194 with SMTP id m2mr2071727oew.47.1398354337033; Thu, 24 Apr 2014 08:45:37 -0700 (PDT) Sender: mh.in.england@gmail.com Received: by 10.76.96.180 with HTTP; Thu, 24 Apr 2014 08:45:36 -0700 (PDT) In-Reply-To: References: Date: Thu, 24 Apr 2014 17:45:36 +0200 X-Google-Sender-Auth: 5ISzL-dt6O4rNbeJslTwVM_lKnY Message-ID: From: Mike Hearn To: =?UTF-8?B?Sm9yZ2UgVGltw7Nu?= Content-Type: multipart/alternative; boundary=047d7b33cea687779204f7cbbdb2 X-Spam-Score: -0.5 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (mh.in.england[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1WdLqI-0005G8-G3 Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] 0 confirmation txs using replace-by-fee and game theory X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Thu, 24 Apr 2014 15:45:44 -0000 --047d7b33cea687779204f7cbbdb2 Content-Type: text/plain; charset=UTF-8 > > Of course if we're not comparing this with Bitcoin today and we're > comparing it to some theoretical mechanism for instant p2p > serialization without requiring proof of work then, yes, this concept > is not very interesting. > Bitcoin's competition is not some theoretical perfect p2p system but rather, bank notes and credit cards. --047d7b33cea687779204f7cbbdb2 Content-Type: text/html; charset=UTF-8
Of course if we're not comparing this with Bitcoin today and we're
comparing it to some theoretical mechanism for instant p2p
serialization without requiring proof of work then, yes, this concept
is not very interesting.

Bitcoin's competition is not some theoretical perfect p2p system but rather, bank notes and credit cards.
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