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Re:Top Bitcoin questions I’ve been asked by Nursie on Thursday April 03, 2014 @03:36AM (#7521427)
A crypto currency network that requires constant hash thrashing is not one I'd call well designed. It appears to be a trade-off for the decentralisation of initial currency issuing, not something everyone considers important.
Re:Top Bitcoin questions I’ve been asked by dllthomas on Thursday April 03, 2014 @03:45AM (#7521443)
"It appears to be a trade-off for the decentralisation of initial currency issuing, not something everyone considers important."

Mining isn't (primarily) for currency issuance - it's decentralization of secure transaction processing. Which still isn't something everyone considers important, of course.

Re:Top Bitcoin questions I’ve been asked by Nursie on Thursday April 03, 2014 @03:51AM (#7521457)
Well sure, it does both. There are (theoretical) systems that allow cryptographically secure transactions to take place without so much thrashing though. Even verifiable offline transactions.

Of course bitcoin's major advantage is that it's already here and working.

Re:Top Bitcoin questions I’ve been asked by dllthomas on Thursday April 03, 2014 @04:13AM (#7521534)
"Well sure, it does both."

Certainly. Using it to distribute the currency, before there's the critical mass of people wanting to make transactions enough to pay your miners seems a perfectly good fit once you're already needing to mine, though.

"There are (theoretical) systems that allow cryptographically secure transactions to take place without so much thrashing though. Even verifiable offline transactions."

Verifiable offline transactions with no centralization? Can you link to some?

Re:Top Bitcoin questions I’ve been asked by Nursie on Thursday April 03, 2014 @06:45AM (#7521980)
>> Verifiable offline transactions with no centralization? Can you link to some?

Nope, because they all have centralisation, as I said, the thrashing is the tradeoff!

Re:Top Bitcoin questions I’ve been asked by dllthomas on Thursday April 03, 2014 @06:58AM (#7522013)
Ah, 'k.
Re:Top Bitcoin questions I’ve been asked by jafaku on Thursday April 03, 2014 @09:34AM (#7522658)
Yeah, the one thing that makes Bitcoin different and a breakthrough in computer science is not important. Tell me more...
Re:Top Bitcoin questions I’ve been asked by Nursie on Friday April 04, 2014 @03:58AM (#7529927)
A breakthrough in computer science? How?

And no, not everyone values decentralisation, sorry. I ddon't consider it an important aspect of a currency or payment scheme. Good for you if you do. Personally I value consumer protections and ease of use way more.