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How do you identify a natural person? Because you'd need to do that to replace the proof of work and assign coins to natural persons. Bitcoin doesn't identify
by konschubert 9y ago
How do you identify a natural person?
Because you'd need to do that to replace the proof of work and assign coins to natural persons.
Bitcoin doesn't identify natural persons, it just knows public keys. There might be thousands of them belonging to the same entity.
- sowbug 9y agoAllocating among real humans in a distributed, privacy-preserving way would be an even bigger technical innovation than the blockchain.
- konschubert 9y agoIt would solve identity theft almost as a corollary.
- beebmam 9y agoIronically, if you want to exchange any significant amount of money for bitcoins online, you need to identify yourself by providing both your ID and a selfie to the exchange.