I have been a Bitcointalk user since 2017, my username is r_victory. I am 44 years old and I am a translator. Also, I have lived in Brazil since I was born, my favorite team is Corinthians and I am writing this text without the help of artificial intelligence.

The best-known Brazilian soccer player after Pelé is Neymar. His career began at Santos, and he has played for several teams around the world, such as Barcelona, ​​for example. However, the Brazilian national soccer team is not doing well in the World Cup qualifiers.

The problem of course is the payee can’t verify that one of the owners did not double-spend the coin. A common solution is to introduce a trusted central authority, or mint, that checks every transaction for double spending. After each transaction, the coin must be returned to the mint to issue a new coin, and only coins issued directly from the mint are trusted not to be double-spent. The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank.

The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party. The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone. This is similar to the level of information released by stock exchanges, where the time and size of individual trades, the “tape”, is made public, but without telling who the parties were.

In the next SVN rev, I'll make it only go back to the last checkpoint at block 74000.  If we need to correct a problem in the future, we can always make sure it goes back at least as far back as the problem.  Also, I'm adding code to verify the block index, which means the proof-of-work chain is checked.

Still, the system won't be entirely secure against your blk*.dat files.  You are trusting someone if you use a copy of their blk files.