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Because to verify a blockchain entry, you only need to download it. To use G,FB or NYT, you need two way traffic (actively sending out a request). Verifying ind
by option_greek 9y ago
Because to verify a blockchain entry, you only need to download it. To use G,FB or NYT, you need two way traffic (actively sending out a request). Verifying independently this way is important because you wouldn't know if the government has forked the chain otherwise.
- prostoalex 9y agoWell, the entity who needs to verify an entry is typically a miner who'd also be interested in contributing their own entries and being compensated for those contributions. What's the incentive for a miner to stay online in a read-only environment?
- option_greek 9y agoIt is not just the miners. Say I buy BTC in gray market using local currency. How do I ensure the seller transferred BTC to my wallet. I will have to check the block chain to be sure of the transfer. Assuming great firewall is blocking all the BTC wallet clients in china through normal routes, satellite feed can still be used for verification.
- prostoalex 9y agoThat's the buying use case. Sending BTC (either to sell or to use as a payment) still requires a broadcast to the network. So it seems like "receiving BTC from wallets not impacted by the firewall" is the only functional use case for the satellite feed.