Post
Topic
Board Development & Technical Discussion
Merits 3 from 2 users
Re: Strange Timestamp Argument
by
gmaxwell
on 30/07/2021, 02:16:24 UTC
⭐ Merited by Foxpup (2) ,kaggie (1)
Bitcoin's requirement for accurate time is *extremely* loose.  A sundial and an almanac is pretty much sufficient.


Quote
People talk as if blockchains can function as trustless clocks, but this is simply not the case.
It's likely that the person you're quoting is confusing multiple different uses of the word 'clock'.

Bitcoin only has a timestamp in it at all to keep the inflation schedule on track and make the infrequently used time-relative locktimes work.  If we didn't care about those features it could just exclude the timestamp entirely-- and it would still be a clock, one that just ticks in the form of blocks.