Author: Natanael 2015-02-12 15:20:11
Published on: 2015-02-12T15:20:11+00:00
In a discussion between Mike Hearn and another individual, the topic of notaries versus miners in terms of building long-term businesses was debated. The argument was made that miners do not have to care about repeat business and don't have enough impact to negatively affect their own capital investment. On the other hand, multisignature notaries need to convince people to select them and provide assurances for simultaneous transactions. The collateral needed for notaries depends on how many and how large simultaneous transactions they want to provide assurances for. The discussion also touched on the security risks associated with zero-conf transactions and the importance of finding a reliable mechanism to guarantee their safety. Finally, the potential effect of BitPay's business model's collapse on Bitcoin's value was discussed.
Updated on: 2023-06-09T16:55:36.945500+00:00