sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja
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<Taek>
I would argue that there's minimal merit to Tether having a blockchain. When an asset like tether is traded on a blockchain, you only need to check with the third party for redemption
<Taek>
but if there's not a blockchain and instead just a central ledger owned by tether, you need to check in with the third party every time that you make a transaction
<Taek>
Tether can still refuse to redeem transactions they don't like, so that minimizes the impact
<sipa>
indeed, there is no point
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<sipa>
in particular, any system that only supports trading a single issued asset relies on the issuer anyway for the entirety of its value premise
<Taek>
right but for example the tether central server can experience downtime that will not interrupt trading
<Taek>
(I say this not knowing the implementation details of the tether blockchain - it may be that every block needs to be signed, which defeats the purpose)
<sipa>
nope, it's mastercoin
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<sipa>
but problems with reliability you solve with redundancy
<sipa>
it doesn't change the trust question
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<waxwing>
i think a chaumian token system makes sense for that kind of thing.
<sipa>
yes!
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<waxwing>
yes, see: truledger, loom (old days), or opentransactions. not commenting on whether any of them are any good, but it's a shame that kind of system hasn't developed for assets.
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<poorlad__>
can someone either give me btc or info as to where there underground stuff people are making millions from is
<kanzure>
no, wrong channel
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<kabaum>
Hi, were there any policies implemented against 0-value outputs back in 2011-07-30 when tx 930a2114cdaa86e1fac46d15c74e81c09eee1d4150ff9d48e76cb0697d8e1d72 (Sassama/Bernanke ascii art) was mined. I mean why did the tx author spend coins in the outputs?
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