good day, What you are suggesting would require the user to trust the offchain operator. You need to reread Satoshis' white paper. Bitcoin was designed to not rely on trust, I works because I depends upon proof of work confirmations within the peer to peer CPU user pool. Any questions?..Ira
Off-chain solutions MUST complement on-chain transactions in order for Bitcoin to be mass adopted. It seems like many in the bitcoin community suffer from severe tunnel-vision, and have lost complete sight of the big picture.
What is bitcoin competing against? We are competing against government-issued currencies.
What can people do with government-issued currences that they can't do with bitcoin? They can exchange them INSTANTLY, and store them safely in a bank (3rd party).
In order to compete with the likes of PayPal, we need bitcoin to be as CONVENIENT as PayPal. Currently:
- Maintaining a secure bitcoin wallet has a higher level of difficulty than maintaining a PayPal account.
- Sending coins to a public key is more confusing than sending money to an e-mail address via PayPal.
- Waiting 10+ minutes for transactions to confirm is 10 minutes longer than PayPal transactions.
While the blockchain offers decentralization and pseudonymity, it must be complemented with off-chain solutions if we want people to be able to use bitcoins with the same ease as, say, US Dollars / PayPal.
good evening, Happy to clear it up for you. Offchain transactions require trust. Bitcoin works because it functions using an advanced systematic indexing system. The larger the network the more confirmations are possible. This number is correlated to the degree of reliability. We are always looking for ways to expand and build up asicause nodes. Feedback is always welcome and helps to boost morale in DM communities who are still byte-dark...Ira