[Cryptography] Krugman blockchain currency skepticism
jamesd at echeque.com
jamesd at echeque.com
Mon Aug 6 02:31:30 EDT 2018
On 06/08/2018 14:11, jamesd at echeque.com wrote:
> Thus we need a system with proof of stake, and not only proof of stake,
...
> with peers that have a lot of wealthy clients
If the system handles an enormous number of transactions, peers are
going to be big and expensive, thus vulnerable to people like Mueller
armed with vague and open ended charges of tax evasion and money
laundering. Hence the power of peer over the currency needs to be
proportional to the wealth controlled by the secrets held by that peer's
clients. And that peer's clients need to be free to move from one peer
to the next, and apt to move to peers that make it difficult for Mueller
to find their clients.
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