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Title: Preventing a perpetual fee (for being born) Post by: andrewbb on March 06, 2014, 04:53:56 PM An EDI format for monetary transactions prevents a perpetual fee. EDI formats are free.
Bitcoin uses an algorithm designed by the NSA. Is there a back door on that algorithm? I do not know. However, knowing the people, I suspect there is. While Bitcoin (and other digital currencies) reduce the fees, it is not perfect. All transactions can be described as: Two people. Promise. Promise. Deliver. Deliver. End transaction. Time stamps on each stage clarify risk and accountability. That is "Promise Language" - a simple EDI format to describe all transactions, regardless of currency. For free. |