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I have an idea that may fix this broken model of Bitcoin. Make sure each penny has a "history" on it on a public server. You can't spend the money unless it i
by maeon3 15y ago
I have an idea that may fix this broken model of Bitcoin. Make sure each penny has a "history" on it on a public server. You can't spend the money unless it is posted for everyone to see. Each transfer of money is documented, and the reason for the transfer and other data. And in order to spend it, you have to validate and review each transfer of money before it. If there is anyone stealing money, it is just a matter of looking at the history of each penny and then tracking down the unique id to the offender who spent the money they didn't earn.
A safe online currency can be done, but if you champion this, the United States government are going to find you, and squish you like the insignificant bug you are. You would be circumventing the primary income stream of the united states with a global standardized currency.
- ghshephard 15y agoEvery bitcoin in existence has its history tracked back to it's origin on every single bitcoin node. There is an optimization for some clients to to pare down that history, but, in general, when you start up a bitcoin node, you have the history of every bitcoin ever created and all of it's transactions that occurred after it. This history, in fact, is how you can be confident that the bitcoin is authentic - unless you have greater than 50% of the computing power of the network, you can't substitute an alternative history which would result in the coin landing in your hands.
- vegai 15y agoThat seems like a highly non-scalable solution.
- weavejester 15y agoIt's not as bad as it seems. VISA only averages 2000 transactions per second, for instance, which isn't actually that much in terms of data.