I think the observation about Target vs Bitcoin exchanges is a sharp one,
but I'm not sure how your proposal helps. You say it's an optional
identity
layer, but obviously any thief is going to opt out of being identified.
Let me translate it to this year's vocabulary. Think of BCIs as a
This needn't be so, once an optional identity layer, modeled after the
Internet itself, is provided, as proposed in late August of last year on
this mailing list
I think the observation about Target vs Bitcoin exchanges is a sharp one,
but I'm not sure how your proposal helps. You say it's
Alex Daley recently stated that one of the problems with Bitcoin is that
it takes us backwards in the transaction chain. Suddenly, you're dealing
with something that's much more cash-like. If Target had been hacked, and
instead of using credit-cards, what was stolen from them were actually
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