[Cryptography] Cryptocurrency Exchange without a trusted third party (Ron Garret
Ron Garret
ron at flownet.com
Sun Jan 15 16:49:56 EST 2017
On Jan 15, 2017, at 12:49 PM, Dominik Zynis <dz at ioresources.com> wrote:
> >It is worth noting, BTW, that the bitcoin block chain is *not* what provides security against theft.
>
> Some consider inflation created by a TTP (i.e., a central bank) a form of theft.
Sure, but that is obviously not what I was referring to.
As an aside, the underlying situation with respect to inflation is actually exactly the same for both bitcoin and fiat currencies. Bitcoin could inflate if a majority of the mining pool agreed to a change in the protocol. Likewise, inflation in fiat currencies can be halted by government decree. The presence or absence of inflation is simply a policy decision. It is completely orthogonal to the technology used to implement and enforce that decision.
rg
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