[Cryptography] Best internet crypto clock
hbaker1 at pipeline.com
Thu Oct 23 00:20:46 EDT 2014
At 08:00 PM 10/22/2014, David Leon Gil wrote:
>On Wed, Oct 22, 2014 at 10:35 AM, Henry Baker <hbaker1 at pipeline.com> wrote:
>> Perhaps a better source would be something that couldn't possibly be hacked -- e.g., variations in solar flux of neutrinos or other solar variations.
>How about using the earth's rotation? :)
>Only Superman can hack that...
Agreed, but how cheap/easy are variations in the Earth's rotations to check?
Remember, the whole point of the exercise is to minimize the asymmetry ratio of checking-costs to manipulating-costs, and to make checking-costs cheap enough that many, many checkers will be checking.
The Bitcoin blockchain is cheap to check, and there are a lot of folks who have much more to lose than a few seconds if the blockchain has been tampered with. The Bitcoin blockchain is still a little too easy to manipulate; future digital currencies with orders of magnitude more transactions will be far harder to manipulate. E.g., many still feel that the Fed is manipulating even the S&P500 these days with "plunge protection":
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