Re:China to Shut Bitcoin Exchanges?
by em3rgent0rdr on Monday September 11, 2017 @01:26AM
(#15216152)
reminds me of scene in Mr. Robot where E-Corp exec is proposing a deal to a govt official: "With eCoin we control the ledger… and the mining servers. We are the authority! I will make sure you have visibility into every single wallet that’s open, every loan, every transaction…"
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a single entity controlling a cryptocurrency defeats the purpose of cryptocurrency. just issue something like amazon credit or whatever.
just one example of how weak the writing is on mr. robot. the basis of everything must be "Lol hackers bro amirite?"
Re:China to Shut Bitcoin Exchanges?
by em3rgent0rdr on Monday September 11, 2017 @03:41AM
(#15216740)
Sure that defeats satoshi's original intended purpose. But surely a nefarious govt and corp might be interested in colluding to pervert that original purpose.
I say the writing on Mr. Robot is quite good...in fact I would say it ranks as the top quality of hacker speak of all popular modern TV.
Eh, there have been plenty of "blockchain, but controlled by one entity" projects proposed. The fact they make no sense and have negative benefits doesn't stop them from being deployed. Also see zCash's trusted setup which possibly allows them to mint unlimited money.
The Zcash trusted setup was decentralized: multiple persons/entities/third-parties participated, including Peter Todd who generated his part of the parameters while driving across Canada with a laptop that was destroyed after the process... http://spectrum.ieee.org/tech-talk/computing/networks/the-cr...