[Cryptography] Satoshi's Trump Card

grarpamp grarpamp at gmail.com
Sat Jul 1 14:08:29 PDT 2017

> This is going to be the greatest wealth transfer in history,
> from each, according to hir gullibility, to each, according to
> hir ability to understand crypto and control market demand.

Part of the crypto revolution... and what crypto-anarchist
would not love to lure and transfer gullible stat[es/esmen/ists].
Political candidates now accepting bitcoin campaign donations,
and surely dabbling in DC's themselves while not having clue.

> I, for one, would find it quite refreshing to have a serious
> crypto-anarchist talk about how to implement demurrage and
> clean up the UTXO set of all these old keys that have been
> sitting around.

Some first glance utilities might be... reducing size of blockchain
enabling pruning, setting expectation of coin as being code mobility
rolling release nonfork... ie: follow or be left behind. And there is
already concept of coin days destroyed = coin in a tx * idle days.

One problem is replicating [multiparty / programmed] contracts.
These tend to have required [human / bot / DAO] negotiation which
not all parties may wish to re-agree to, they may also be happy to
watch demurrage burn things out of spite. Potentially leaving some
merkle lingering longer than first thought.

[If that is case then] another aspect is distributed designs to
actually carve up and store unprunable decades worth of
blockchain into a queryable historical storage layers,
possibly again then demurring themselves if needed as
size grows and legacy queries die off. Recalculating checkpoints,
collating into signed active history bundles, and so on.

> Or we can just wait until there's a new blockchain in which
> the proof-of-work is cracking old bitcoin ECDSA keys.

Cute, but not really elegant or power efficient.

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