But my understanding is that you're not so much complaining about the internals of bitcoin itself as with the software around it. Or maybe not. I'll have to go back and reread what you wrote. Definitely some of your issues could be fixed with a fork that would not change that it's bitcoins.

Edit: Yes, your post #1 linked to a complaint about disk IO and time to verify the block chain. Both of these could be resolved without giving up on bitcoins. Though that may not be too helpful as the mainstream client is what people will be exposed to in general. Like you say, there are already lightweight wallets out there.

The reason that analogs of traditional financial institutions are being created is that they work and often were in place long before banking became the province of centralized government.

The test is if, in a free market, without government interference, those institutions which fail to provide value should quickly fail.

Not really. As long as it implements the same underlying protocol, it is still bitcoins.

No moreso than the numbers on your credit cards. IP tends to protect creative works and does not apply to numbers (that creative works can be represented at numbers is sometimes brought out but that's another discussion).

I have been thinking about that. It would likely be a passcode or pin but optional in case you are likely to be using the card on an untrusted system (though even with a keylogger or hacks, you'd still need the wallet physically attached so that may not be a big deal to have mandatory).

Also up for consideration are wallet backups and/or importing external wallets. Likely I would require a passphrase on first use. But in theory, it should be possible to set up a fresh wallet on a compromised system with no security risk.

I think I can see my house from here.

I likely won't even be considering biometrics. It's extremely tricky to revoke an eyeball or fingerprint. My understanding is that the card cannot be dumped (or at least it's an optional setting). If it's possible to dump the card at all (barring scanning electron microscopes), it's not going to work as it will always be possible to find a way but I'm confident that won't be an issue.

I think he means Brew?

I'm thinking it could have a QR code. Or maybe be totally custom. Of course, QR code would imply preloaded with a key.

Wait, what? Who but you said anything about sharing power?

Just start hanging out at steampunk conventions

I never saw the entertainment side of things. Maybe with poker. But every time I played that, there were always people so much better that I just couldn't be bothered after a while.

Unfortunately, as the ones wearing badges which say "Doctor"

I just ordered several cards and a reader so I'm about to find out

Though I do have a little experience as I ordered the java ibutton kit when it first came out. The card actually runs a Java machine with protected memory etc. It's basically a fairly retarded computer. You can talk to it and it talks back. The cards also have some built-in crypto that may or may not be useful.

The one thing you possibly can't trust is the reader device. It can lie to the card and to the user. Though maybe the reader and the card could be considered as a unit and you would own the reader. It could have the buttons and display but be fairly dumb and the smarts are in the java card. Then you can have multiple cheap wallets you can swap into a relatively more expensive reader. You might trust your friend's reader but then again, maybe only as much as a low-value hot wallet.

I am becoming more and more convinced that hardware wallets will be the way to go. I think I'll spend the weekend studying the rockbox project and seeing if it could be leveraged. I'm also wondering about smartcard options



$4, runs Java. There are security issues with these that I don't think would be surmountable but they may be "good enough" for many purposes.

Power of the I*V=W kind. Hackers have been charged with this since by hacking into systems, they are using power on that systems that they haven't paid for or been authorized to use. Theft of services is more usually used for cable (the TV kind, not the spools) but I think may have been applied in similar cases.

$4, runs java. You'd maybe need a public/shared terminal and there may be security implications but there are options out there.

Yes. It was my understanding that the posting of the picture of the stone coins was made as a counter to the portability requirement. The stones themselves were red-herrings (which actually would possibly be portable enough to be used as currency but would probably violate the previously undisclosed "must not smell of fish" requirement).

Nope, there is a benefit to the individual if they can exercise power over others. Hence some individuals seek to climb the ladder of authority (and will create the ladder if it doesn't already exist). Unfortunately, there are plenty who are content to accede to such control and thus lend their power to those who seek to control.