"Only electronic coins issued by mint are effective, which prevents double payment. This solution has its problem. The whole currency system is on the control of a mint, because every transaction should be
testified by the mint, which is just like a bank. So, recasting is feasible.
Recasting is to force the non-trading coins within a period of time to trade, thus
old blocks become useless." - Whitepapers
Very interesting analysis!
Bitcoin is doomed to become centralized and ineffective.
will update the White paper later.
thanks for your Support.
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