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General Discussion / Re: Reputation & username system - alternative to proof of burn
« on: September 20, 2014, 06:31:31 pm »
I want to say something about privacy vs. reputation tradeoff.
I think one of the most important attributes of these systems is they codify what is ultimately a social consensusā¦
Let's say tonyk has 10mil BTSX and there is this social consensus that he owns this 0.5% of the network. Let's say tonyk runs afoul of the law for not renewing his "bitlicense" or some such nonsense and the government demands that tony forfeit his BTSX. The network/community simply invalidates that stake so the gov't gets nothing, the network happily pays for tony's legal defense and whenever he is out of harms way he freely claims back his remaining balance.
I think this type of thing is way more powerful than this obsession with anonymity and untraceable transactions.
I think one of the most important attributes of these systems is they codify what is ultimately a social consensusā¦
Let's say tonyk has 10mil BTSX and there is this social consensus that he owns this 0.5% of the network. Let's say tonyk runs afoul of the law for not renewing his "bitlicense" or some such nonsense and the government demands that tony forfeit his BTSX. The network/community simply invalidates that stake so the gov't gets nothing, the network happily pays for tony's legal defense and whenever he is out of harms way he freely claims back his remaining balance.
I think this type of thing is way more powerful than this obsession with anonymity and untraceable transactions.