[p2p-hackers] Bitcoin incentive on Kademlia networks

[Changaco]

On Thu, 01 Nov 2012 08:57:00 +1000 "James A. Donald" wrote:
> The big problem in peer to peer is free loaders, the biggest problem 
> being that we need a seeding incentive.

I disagree with that statement. Yes, some people don't understand the
rules or don't want to play by them, but overall it still works quite
well.

> To fix, need something like money.

Money based on whatb/? You can't ID people, you can't even ID machines.
The Internet is not anonymous, but it's not authenticated either.

That's why Bitcoin is based on CPU work, something you can't fake. You
can "steal" it though, I believe I heard something about botnets used
for Bitcoin mining.

On Fri, 02 Nov 2012 09:19:34 +1000 "James A. Donald" wrote:
> Need fully automated fractional reserve banks, which use bitcoin as 
> gold.  Accounts are, of course, public keys, banknotes are chaumian tokens.

Bitcoin is a good P2P experiment, but it will be abandoned like gold
was, because it's neither efficient nor fair.
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