Quote from: Red on August 07, 2010, 08:09:19 PM

Quote from: NewLibertyStandard on August 07, 2010, 06:56:27 PM

I can't imagine a more splintered network. Wink

You laugh and I did too. But consider that the launch of bitcoin could have gone this way.

--------

Hi I'm Satoshi, you a are the 20 largest ISP's in the world. I'm launching a new network cash service. It will add significant value to your existing customer base and make you some additional revenue.

So here is the deal, In exchange for each of you running a bitcoin transaction verification peer and signing this contract, you will receive 1,000,000 BTC. You agree (in the contract) to distribute >= 500,000 BTC to your existing customer base in the first year. You may sell them, give them away to new subscribers or as a value add to promotions. Compete among yourselves, dispose of them anyway you want. Dispose of or keep the rest to dispose of in the future.

You also agree to run the transaction verification servers honestly for X years. Here is a free client you can pass out to your customers, you can give it away or charge them a service fee. Compete among yourselves.

Each of you pay me $100 for the privilege, you'll make that back the first day.

Thank you for your $2,000 good luck to you all!

Poof, now there is a functioning bitcoin network will all 21,000,000 coins in circulation. Satoshi gets to keep the last 1,000,000 BTC + he gets the $2,000.

Bitcoin builds on the reputation of the 20 largest ISP's and is adopted immediately. 20 trusted nodes can reach consensus quickly so there is no reason for the hashing game or new minting rewards.

----

I don't think that is too pie in the sky for some of the clever salesmen I know to pull off.

You would then have to rely on "for profit" companies to be the central authority for the new currency and how long would it take to generate the full chain even at a difficulty of 1.00?