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Yup. The actors don't even need to trust each other that much, because they each still need to use their public key to execute a transation. The level of trust

Yup. The actors don't even need to trust each other that much, because they each still need to use their public key to execute a transation. The level of trust is just that everyone will play nicely, such as not purposefully ignoring transactions. The Bitcoin model is good at incentivizing actors to play nicely. Banks have no need to create this incentive, it's already in their interest. The Bitcoin mining system also solves another problem: how to evenly distribute new money in a fair way. Banks have no need for that either.

Mtinie 11y ago
> The Bitcoin mining system also solves another problem: how to evenly distribute new money in a fair way. I was going to disagree with this, but I reconsidered my initial comment and will offer this modification: "The Bitcoin mining system also solves another problem: how to evenly distribute new money in a provably fair way to those with the resources to participate."
stymaar 11y ago
> The Bitcoin mining system also solves another problem: how to evenly distribute new money in a fair way. That is not the problem that mining is addressing. Mining is an incentive for people spending resources to check the integrity of the blockchain. This has nothing to do with «fairness».