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You could support Netflix by adding a Bitcoin-based system of transit settlements. This could provide the capital to really scale up, without any central contro

You could support Netflix by adding a Bitcoin-based system of transit settlements. This could provide the capital to really scale up, without any central control or administration. I Of course the cooperative part of the network remains free. A payment system just makes expensive infrastructure possible as part of the system, like fiber under the oceans. A decentralized payment system could allow massive scale by allowing investors to finance and make money off network segments, repeaters, etc. Real competition forces them to compete on pricing and quality. One can imagine a smart routing algorithm that takes cost and quality into account. I mention this because I'm a skeptic about many proposed applications for Bitcoin, but infrastructure with no central control is a great use case. Bitcoin needs some solid use cases before it can really take off. Edit: any comments along with the downvotes? I was hoping for a conversation. I know its crazy but I'm speculating about creating an entire new internet.

adrianmacneil 11y ago
100% agree. Of all the potential use cases for Bitcoin, decentralized protocol-level payments (for network bandwidth, torrent seeding etc) are one of the most compelling. I've seen this being done for torrents already, but would love to see someone try it out for negotiating bandwidth for wifi/mesh networks.
nosuchthing 11y ago
Maybe something more along the branch of Namecoin, but optimized for micropayments to pay bandwidth providers daily rates? Thinking long term, setting some type of expiration system after coins are mined, by a set decomposition rate into the protocol to solve both the hording/anti-economy issue inherent to bitcoin's hard limit on coin supply. Coins expiring might potentially help with ledger bloat? Avoiding potential abuse of "juggling" the coins by transferring them between several wallets to avoid the decomposition rate would be the first issue that comes to mind.

adrianmacneil 11y ago

100% agree. Of all the potential use cases for Bitcoin, decentralized protocol-level payments (for network bandwidth, torrent seeding etc) are one of the most compelling. I've seen this being done for torrents already, but would love to see someone try it out for negotiating bandwidth for wifi/mesh networks.

nosuchthing 11y ago

Maybe something more along the branch of Namecoin, but optimized for micropayments to pay bandwidth providers daily rates? Thinking long term, setting some type of expiration system after coins are mined, by a set decomposition rate into the protocol to solve both the hording/anti-economy issue inherent to bitcoin's hard limit on coin supply. Coins expiring might potentially help with ledger bloat? Avoiding potential abuse of "juggling" the coins by transferring them between several wallets to avoid the decomposition rate would be the first issue that comes to mind.