That's pretty harsh, although you may be entirely correct. I'm not smart enough to know. Please remember that the author did this for fun and despite whatever f

That's pretty harsh, although you may be entirely correct. I'm not smart enough to know. Please remember that the author did this for fun and despite whatever flaws it may have, it is still interesting to think about. Is it impossible to overcome the flaws you pointed out? Is there a way to abstract away the risk from the end user? Are there other applications for this where trust is not an issue? At risk of sounding like an idiot, could some sort of distributed proof-of-work/proof-of-stake protocol alleviate some of the trust problem?