[cryptography] bitcoin scalability to high transaction rates

[James A. Donald]

On 2011-06-17 4:35 AM, Sampo Syreeni wrote:
> Since I've been forced to take yet another look into BitCoin and
> algorithmic (high frequency) trading within a short timespan, I began to
> wonder how they would work together. What precisely would happen to
> BitCoin if we had tens to tens of thousands of high frequency traders
> (thousands of transactions per second per trader) within the network?

The obvious next step is to have chaumian money and account money which  
has rapid low cost transactions, which money is converted into bitcoins at 
leisure, analogous to having gold, and account money and banknotes backed 
by gold.

We should have accounts backed by bitcoins, and banknotes (chaumian money) 
backed by bitcoins.
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