"Quite interesting project. I am curator of a micro-currency in Germany called Rheingold.
It is based on cash. Therefore the problem of "trust" is not solved. However, we do not have a central bank giving money as credit, but here, every…"
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Bitcoin open source implementation of P2P currency
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Started this discussion. Last reply by Alexx Saver Sep 13, 2014.
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Jost Reinert replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"Dear Satoshi,
Could you propose a text for our regular p2p blog, with eventual responses to the main questions here? Our regular blog has a lot more readers (about 10x) than our Ning community blog,
Michel"
Russ Nelson replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"No, nothing like LETS at all. LETS is book entry for one, and for another the total amount of currency is always zero. When you issue a credit to someone else because they've done something for you, you receive a debit. The trouble with a LETS…"
Robert Searle replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"As far as I can understand it we are dealing here with another glorified form of LETS, or CCs in electronic form ofcourse. The question is this. How will this help to change the big issues of our world such as global warming, food security,…"
Russ Nelson replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"The London Mint was unable to make enough small coins in Isaac Newton's day. Private minters stepped in. If bitcoin can't make enough coins and small enough coins so that people can trade at the value they want, then it will be replaced by…"
Satoshi Nakamoto replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"It is a global distributed database, with additions to the database by consent of the majority, based on a set of rules they follow:
- Whenever someone finds proof-of-work to generate a block, they get some new coins
- The proof-of-work difficulty…"
Joerg Baach replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"Hi Satoshi,
we are actually really talking about the old Chaumian central stuff. That was because a) it was there b) it was patent free (we have to think a bit about the US). I had a read of your paper on the weekend - thanks a lot for doing that…"
Satoshi Nakamoto replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"Could be. They're talking about the old Chaumian central mint stuff, but maybe only because that was the only thing available. Maybe they would be interested in going in a new direction.
A lot of people automatically dismiss e-currency as a…"
Satoshi Nakamoto posted a discussionBitcoin open source implementation of P2P currency
I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralized, 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:Download Bitcoin v0.1 at http://www.bitcoin.orgThe 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…See More
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