From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 6A81611E3 for ; Mon, 31 Aug 2015 22:53:26 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from cock.li (cock.li [176.9.0.140]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id EB5E7155 for ; Mon, 31 Aug 2015 22:53:25 +0000 (UTC) MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8; format=flowed Content-Transfer-Encoding: 7bit Date: Mon, 31 Aug 2015 22:53:24 +0000 From: Monarch To: Justus Ranvier In-Reply-To: <55E4CD16.3010508@openbitcoinprivacyproject.org> References: <602b978abcedd92fbed85f305d9d7bfe@cock.li> <55E4B8C9.5030606@openbitcoinprivacyproject.org> <91e79f981126ebe62e30df26e0c7ec50@cock.li> <55E4CD16.3010508@openbitcoinprivacyproject.org> Message-ID: X-Sender: monarch@cock.li User-Agent: Roundcube Webmail/0.9.5 X-Spam-Status: No, score=-1.9 required=5.0 tests=BAYES_00,T_RP_MATCHES_RCVD autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: bitcoin-dev@lists.linuxfoundation.org Subject: Re: [bitcoin-dev] Your Gmaxwell exchange X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 31 Aug 2015 22:53:26 -0000 On 2015-08-31 21:54, Justus Ranvier wrote: > > You keep using the word "decentralized" without explaining (and most > likely, understanding) what it means. > Decentralization is a ubiquitous term within the Bitcoin, and the definition is by no measure new or often confused. It is realizing that systems involving trusted third parties have undesirable properties, be it regarding privacy, fraud, censorship, and removing the effect of them as much as is physically possible. WASTE and RetroShare are examples of decentralized messaging and file distribution systems, acknowledging the privacy problems involved with centralized systems like AOL Instant Messenger or IRC. > What does it mean to use a decentralized network instead of a trusted > third party to process electronic payments? What undesirable actions > can > a trusted third party perform that a decentralized network can not > perform? > Bitcoin is a decentralized currency which allows any person the ability to transact in a way that does not require specific trust in any particular party. Users can independently verify that transactions they receive are valid and confirmed, with strong confidence that they can not be reversed or modified. A third party does not hold these same properties, there is no reason to believe the information they present other than trust they will not lie, cheat, or violate privacy at their own will. Given information by a trusted third party (such as a balance or existance of transaction), a person has no ability to independently validate their claims as you do in a decentralized system.