Author: Justus Ranvier 2015-09-02 18:51:08
Published on: 2015-09-02T18:51:08+00:00
In a discussion on Bitcoin-dev, Justus Ranvier mentioned three properties that users should have when using Bitcoin. Firstly, they should own their Bitcoins and retain exclusive control over their balances. Secondly, their fraction of the Bitcoin ledger must not be diluted. Finally, they should be able to spend their coins without requiring permission from a third party. Wladimir J. van der Laan replied by stating that these properties are not contingent on the system being decentralized. He compared this to saying that a bridge's structural integrity depends on good materials, which conveys no relevant information to potential users of the bridge. Instead, users want to know about the maximum working load, conditions for safe use, and other specific details. The conversation occurred in the context of the Open Bitcoin Privacy Project, of which Justus Ranvier is a member.
Updated on: 2023-06-10T21:31:51.754926+00:00