BitCoin is a public ledger(erratasec.blogspot.com)
erratasec.blogspot.com
BitCoin is a public ledger
http://erratasec.blogspot.com/2013/05/bitcoin-is-public-ledger.html#.UbZmiRZ-Uqb
12 comments
Haha, even here, misinformed (often angry) comments are directed at Bitcoin supporters that align precisely with what you're saying. Some of the accussations are simply flat out incompatible with an open/public ledger, let alone getting into anything Bitcoin specific.
And that's despite stuff like this being posted repeatedly. In fact, this is a repost from like ~~2~~ 10 days ago, isn't it? ( https://news.ycombinator.com/item?id=5796935 )
And that's despite stuff like this being posted repeatedly. In fact, this is a repost from like ~~2~~ 10 days ago, isn't it? ( https://news.ycombinator.com/item?id=5796935 )
Looks like everyone's tuckered out. A full day of WWDC and PRISM and the Bitcoin story only has 4 comments after 2 hours. Get some rest, guys! ;)
It might also be because this link has been posted at least two times recently:
https://news.ycombinator.com/item?id=5796935
https://news.ycombinator.com/item?id=5807149
https://news.ycombinator.com/item?id=5796935
https://news.ycombinator.com/item?id=5807149
Don't forget E3, some of us play games too!
Y'all know that there's already a protocol designed exactly for doing this without hacking BitCoin, don't you?
http://en.wikipedia.org/wiki/Trusted_timestamping
http://en.wikipedia.org/wiki/Trusted_timestamping
This sounds like a modern version of the Poor Man's Copyright[1] where you mail yourself some document for _protection_.
[1] http://www.snopes.com/legal/postmark.asp
[1] http://www.snopes.com/legal/postmark.asp
Doesn't this actually destroy bitcoins (of which there will only ever be a finite amount)
Sure, in the sense that they are now permanently unusable by being transferred to keys for which the private key is not known.
By sending a single satoshi (0.000000001 BTC), the monetary effect is insignificant. There will eventually be 2,100,000,000,000,000 of such units.
By sending a single satoshi (0.000000001 BTC), the monetary effect is insignificant. There will eventually be 2,100,000,000,000,000 of such units.
Bitstampoer on github already does a Verizon of this.
https://github.com/newell-purdue/bitstamper
https://github.com/newell-purdue/bitstamper
Bitcoin is a ledger, that ledger is public. The columns are labelled with things like 17Zsi2TiKrZoAoaQ7bzt3wPB5NZV1T4KeE, That column _is_ the bitcoin in your wallet. You need to have a password to move something out of your column and into another. That's the private key to your wallet.
Most people understand ledgers. Most of the misunderstandings about bitcoin (especially regarding anonymity) indicate that people don't realise that bitcoin is a ledger.