[Cryptography] Bitcoin is a disaster.

[Bill Frantz]

On 12/31/20 at 4:11 AM, hyc at symas.com (Howard Chu) wrote:

>Bitcoin was a Pilot system, a good first effort. It did what a 
>Pilot system is intended to do:
>show where the pitfalls lie. You're supposed to learn from it, 
>then toss it out and go back to
>the drawing board. This missing step is what all the Bitcoin 
>proponents have failed at. They kept
>pushing the prototype, instead of throwing it out and designing 
>a proper production system.

In my version of an old man's cynicism, I would say that not 
replacing the pilot (prototype) system is the rule in computer 
projects. You quickly get locked in to the quirks of the 
prototype, and suddenly can't afford to replace it. You can 
enhance it, and really rococo additions are common, but 
replacing the basic approach is very rare.

Cheers - Bill

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