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Re: <nettime> Fwd: Stephen Foley: Bitcoin needs to learn from past e-cur
olivier auber on Thu, 5 Dec 2013 06:41:59 +0100 (CET)


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Re: <nettime> Fwd: Stephen Foley: Bitcoin needs to learn from past e-currency


Let me know if I'm wrong: one individual may own two or more bitcoin
wallets. And this individual may be a robot or a weird mixture of
flesh and silicon, let say a dog which constantly "shift" its
identities and deals its bitcoins with some high frequency trading
system. So, obviously "cydogs" will suck all the bitcoin market at the
expense of regular human beings. Bitcoin: a good money for bots, isn't
it?

On the contrary, openUDC ( http://www.openudc.org/ ), based on "the
web of trust", ensures that traders are actually humans, not bots.
There is no complicated mining system but a distributed mecanism which
provides regularly a certain amount of money (a Dividend) to each one
and controls the global monetary mass according their average life
expectancy.

Olivier

On Wed, Dec 4, 2013 at 2:02 AM, Douglas La Rocca <douglarocca {AT} gmail.com> wrote:

>> it would not require very much ingenuity or computational
>> power to analyze all transactions associated to one Bitcoin wallet and,
>> from the frequencies, quantities and network of its transactions, deduce
>> the identity of its owner with practical certainty.
>
> There's a distinction between wallets and addresses. Addresses are
> traceable and can be analyzed in that manner. Wallets are collections of
> addresses which need not ever be publicly associated.
 <...>


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