On 02/15/2015 11:25 PM, Troy Benjegerdes wrote: > > Most money/payment systems include some method to reverse or undo > payments made in error. In these systems, the longer settlement > times you mention below are a feature, not a bug, and give more > time for a human to react to errors and system failures. >
Settlement has to be final somewhere. That is the whole point of it. Transfer costs in current electronic payment systems are a direct consequence of their non-finality. That's the point Satoshi was making in the introduction to the whitepaper: "With the possibility of reversal, the need for trust spreads". There is nothing wrong with having reversible mechanisms built on top of Bitcoin, and indeed it makes sense for most activity to happen at those higher layers. It's easy to build things that way, but impossible to build them the other way: you can't build a non-reversible layer on top of a reversible layer. ------------------------------------------------------------------------------ Dive into the World of Parallel Programming. The Go Parallel Website, sponsored by Intel and developed in partnership with Slashdot Media, is your hub for all things parallel software development, from weekly thought leadership blogs to news, videos, case studies, tutorials and more. Take a look and join the conversation now. http://goparallel.sourceforge.net/ _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
