Bitcoin Miners Signal Revolt Amid Sluggish Blockchain

Re:Bitcoin Miners Signal Revolt Amid Sluggish Blockchain by eru on Monday March 13, 2017 @07:04PM (#13863379)

Btw, The Midas Paradox is a good introduction in some background on the great depression and the Federal Reserve Bank's and federal government's role in it (http://www.themoneyillusion.com/?p=31341).

I am waiting for someone to come up with a good solution for how to do fractional reserve banking with bitcoin (without relying on trust via eg government-sponsored courts to enforce human-readable contracts---because what would be the point of bitcoin then).

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Re:Bitcoin Miners Signal Revolt Amid Sluggish Blockchain by chii on Monday March 13, 2017 @07:18PM (#13863475)

i reckon fractional reserve cannot be done with bitcoins (unless you, as you precluded in your conditions, trust a third party).

Just like fractional reserves cannot be done with gold, unless you trust a third party (and thus, receive "bank notes" for your gold deposit!).

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Re:Bitcoin Miners Signal Revolt Amid Sluggish Blockchain by eru on Monday March 13, 2017 @07:19PM (#13863488)

Yes, people have been doing fractional reserve with gold and reputation for a long, long time.

I wonder whether bitcoin fractional reserve can live off reputation alone, or whether smart-contracts can / have to help?

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