[Cryptography] Another Bitcoin issue (maybe)

James A. Donald jamesd at echeque.com
Sat Feb 15 20:21:33 EST 2014

On 2014-02-14 18:57, ianG wrote:
> It is a problem, if you don't rely on it.  If you need to rely on it,
> as per Mt.Gox, it becomes a problem.  An exchange merchant friend of
> mine was telling me that his database to manage the blockchain is now
> at 40Gb.  As a merchant, he's subject to attack .. so he's keen to
> manage the entire process.

Back in the beginning, I said, scaling problems.

Eventually only banks will handle the full blockchain, and they may not 
always have their customer's best interests at heart.

Really we need a system in which there is globally one true blockchain, 
but each person locally stores only part of it, which however makes the 
Byzantine Generals problem considerably harder.

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