Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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This makes sense but I'm not familiar enough with the protocol to know whether including certain features would make building particular applications easier or more effective. It seems inelegant, for example, to build an application to enable instant transactions and real-time trading on top of the bitcoin protocol, due to the 10-minute block time. I'm still on the fence on this one, though in practice I suspect people will use the option that works out-of-the-box. There's the friction that occurs within the protocol/system itself and the friction that occurs between user and protocol.
Your sig quote is one of my favourites, but sadly it's not one of mine. I've no idea where it comes from - couldn't find an original source.
This makes sense but I'm not familiar enough with the protocol to know whether including certain features would make building particular applications easier or more effective. It seems inelegant, for example, to build an application to enable instant transactions and real-time trading on top of the bitcoin protocol, due to the 10-minute block time. I'm still on the fence on this one, though in practice I suspect people will use the option that works out-of-the-box. There's the friction that occurs within the protocol/system itself and the friction that occurs between user and protocol.
Your sig quote is one of my favourites, but sadly it's not one of mine. I've no idea where it comes from - couldn't find an original source.
The sig was part of a discussion a you had with aminorex (iirc) a few weeks ago, I C&P'd it straight from the post but I'll change it shortly if its a problem. I quoted it as soon as I read it but there was some much better stuff in that post, very informative and much appreciated.
We're only scratching the surface of what can be achieved with the protocol so far and I wouldn't be surprised if the trustless verification leaves the use as a currency far behind sometime. The ten minute blocks seems like a problem but essentially it means you only have to trust any system that transfers ownership for ten minutes, be that stock exchanges, car dealerships, estate agents or anything else that requires a trusted third party to verify transfer.
EDIT: Got it:
https://bitcointalk.org/index.php?topic=178336.msg7132970#msg7132970
EDIT2: Doh, I get it now. Thanks for quoting an excellent piece from an unfortunately unknown source
No worries on the sig. You know you've arrived on these boards when someone quotes you in their sig
Just didn't want to look like I was trying to take credit for someone else's words. When I do that I always make sure I won't get found out.