Australia's largest stock trading and investment forum Australia's #1 stock forum

Lite coin cash, page-32

First 32 Last

Share
Profile

Follow
Lurkin

2,100 Posts.

6

12/03/18

01:09

Post #: 31676839
Share

Originally posted by davec88 ↑

Rather than quoting the White Paper, which describes how the system would be implemented circa 2009, why don't you look at Satoshi's writings as to the intent of this system?:

"I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralised, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper.

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible."

As per above, your favourable views of redonkulious super centralised nodes (Which would be easy to censor, control manipulate and collude) lie in contrast with the original intent of Bitcoin.

Expand
Upvote

Reply

There are more pages in this discussion • 4 more messages in this thread...

First 32 Last