Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
This is a political problem and not a technical one.
Great insight on this point by Peter Todd:
https://twitter.com/petertoddbtc/status/634808169978462208
And what is the point of keeping the blockchain so decentralized it is not even useful for no one? Who will run a node of a useless blockchain? If most transactions are driven off chain, will transaction fees will be enough to ensure strong enough security? I seriously doubt it.
Here is your answer; please note your questions indulge in the fallacy of petitio principii.
Quote
The true value that Bitcoin brings to the table is not "everyone gets to write into the holy ledger", it is instead "everyone gets to benefit from sane and non-inflationary financial instutions whose sanity and honesty are ensured by the holy blockchain".
-davout
-davout
It doesn't address my questions at ALL.
Yes it does. You simply lack the intelligence and experience required to appreciate the answers.