Post
Topic
Board Development & Technical Discussion
Re: BTC violates GAAP, result a mess.
by
jgarzik
on 10/06/2013, 14:48:51 UTC
I'd be interested to know that as well.

Traditionally, currency systems were designed the way OP suggests.  Not sure what was the rationale for designing the transactions this way.  It's certainly irregular, but perhaps there was some kind of articulated reason somewhere.

Because it makes good engineering sense.

Technically we have a balance sheet anyway:  the set of unspent transaction outputs (UTXO).