[cryptography] (off-topic) Bitcoin is a repeated lesson in cryptography applications - was "endgame"

lodewijk andré de la porte lodewijkadlp at gmail.com
Mon Feb 27 07:26:11 EST 2012


>
> > 1. No offline transactions, which makes Bitcoin useless for
> > a large class of transactions.
>
> On Mon, 27 Feb 2012, James A. Donald wrote:
> > Smartphones.
>
> The implicit assumptions here, namely that
> * everyone who wants to make financial transactions carries a smartphone
> * smartphones never break down
> * smartphone batteries never run down
> * smartphones always have network connectivity
> don't always hold.
>
I feel obliged to note that anyone carring an up-to-date wallet file can
permit and validate transactions. If his/her wallet file is out of date
double spending might occur, even then one might apply trust to still do
transactions.


> [Another key bitcoin flaw is that it's not particularly anonymous
> in the face of NSA-level network surveillance.  Cash *is* (remains)
> under these conditions.]

Working on this. And the network problem.
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