Quote from: HmmMAA on Today at 05:47:52 AM

Quote from: Wind_FURY on June 22, 2023, 06:42:36 AM

But how the whole system is actually designed shows that it's not just a network for "peer to peer electronic cash" is it?

The system is designed to have electronic peer to peer cash into a visible ledger by using PoW consensus to prevent double spend . What other design do you think bitcoin has ? I'd really like to know what else do you see .

It is that, but it is also much more than that in my opinion. What use would there be for censorship-resistance, the network's value proposition, if it's to merely use for daily coffee transactions?

Plus POW is more than to prevent double spend. It's also a way to issue the units of Bitcoin in circulation, which also incentivizes the miners and it keeps them honest.

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Have you truly tried to understand how the protocol works and what its implications are? It's not a decentralized PayPal, that I can tell you. It's much much more.

Maybe i haven't , can you point me of what the implications are ? I like socratic dialogues , but i have to warn you that to have such a dialogue we both need to have an open mind and a great understanding of how things work .

One of them is Bitcoin's role in the creation of the ransomware market. It filled a gap where hackers could take advantage and be incentivized of the fact that some software vendors are slow in deploying security updates. As an increasing amount of computers were compromised, the software vendors were forced to deploy patches and software updates more regularly. Bitcoin actually took part in making random computer networks more secure.

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Do you remember that ip to ip transactions were implemented in the original design that was later removed ? Mike Hearn makes a point , that things could be reinstated at some later point https://bitcointalk.org/index.php?topic=9334.msg134801#msg134801 .

No, that was before my Bitcoin journey, but I could already tell that IP to IP transactions are open to attacks like IP-Spoofing and MOTM. It's probably better to leave that decision to the Core Developers.

Wasn't Mike Hearn the developer who spread FUD about Bitcoin's collapse if it didn't hard fork to bigger blocks?