I just registered so I'm a "newbie" even though I've been following bitcoin for almost a year.
A well known issue with the bitcoin protocol is the ever increasing length of the block chain, a copy of which every client maintains, and which contains every transaction since day zero. A possible solution occured to me:
Why not have, after every 10,000 blocks or so, a "totalization" block that sums or totalizes the balance of every bitcoin address that has a non-zero balance (discard addresses that total to zero balance). This block can then be timestamped and hash signed by miners. New regular blocks then continue on after, and are linked to, the totalization block. After some number, perhaps 100 or so, of new blocks the totalization block can be considered validated and all block chain info prior to the totalization block can be discarded. I'll call it "regenesis"!
A metaphor to think of is rocket staging on a trip to orbit. The dead weight of older stages are discarded. For block chain length competiton you could accept the chain with the earliest totalization block with the longest chain of following blocks (but not more than 10,000). I'm sure there are issues to work out, but the idea seems sound to me.