Flaw in Bitcoin's system

Vidicus

hello I just watched this youtube video and what he is saying has some merit I think. What do all of you think about it? https://www.youtube.com/watch?v=PfeA94BedQI&list=UUEHsSWvrGVSIA63OV3J6vhA

MrWyrm

http://www.mail-archive.com/cryptography@metzdowd.com/msg09964.html

kris_davison

I’m not even sure that’s an issue.

I think what we need after a certain number of blocks is an epoch block. That compacts all transactions in the block Chain to only one tx per address with positive balance.
So users would only need to download anything since the last epoch.

This would obviously need to be checked by the network just as each block is checked. :)

wrapper

Yes, these issues were discussed. Particularly, remember what the consequence of compression might be on “other uses” such as “Link” data.

We may be getting to the point where that needs to get addressed.

Hrm interesting… I’ll keep this on my radar…