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purplerat wrote:The point being that you wouldn't need to exchange your bitcoin because it wouldn't be "marked" so to speak by a transaction note.
Think of it like a memo on a check. If somebody cashes a check with a note in the memo field then gives you that cash, that cash is not somehow marked or tagged by that memo.
newolder wrote:purplerat wrote:The point being that you wouldn't need to exchange your bitcoin because it wouldn't be "marked" so to speak by a transaction note.
All bitcoins are marked with transaction notes because that's what the blockchain is designed to keep track of. It's just that the record of the transaction notes now contains information deemed/legislated as illegal in some regions.Think of it like a memo on a check. If somebody cashes a check with a note in the memo field then gives you that cash, that cash is not somehow marked or tagged by that memo.
purplerat wrote:newolder wrote:purplerat wrote:The point being that you wouldn't need to exchange your bitcoin because it wouldn't be "marked" so to speak by a transaction note.
All bitcoins are marked with transaction notes because that's what the blockchain is designed to keep track of. It's just that the record of the transaction notes now contains information deemed/legislated as illegal in some regions.Think of it like a memo on a check. If somebody cashes a check with a note in the memo field then gives you that cash, that cash is not somehow marked or tagged by that memo.
Do you understand that there is no such thing - physical, virtual, or otherwise - that represents 'a bitcoin' on a 1:1 basis or anything similar to that? It's not like a paper currency with a serial number that can track 1 exact pound or dollar as it changes hands.
Transactions are recorded and can be traced but say for example persons A and B each give some bitcoin to person C who then sends some bitcoin to person X. There is no way to trace which "bitcoins" that ended up with person C originated with person A because that's not the way the ledger works.
purplerat wrote:Do you understand that there is no such thing - physical, virtual, or otherwise - that represents 'a bitcoin' on a 1:1 basis or anything similar to that? It's not like a paper currency with a serial number that can track 1 exact pound or dollar as it changes hands. Transactions are recorded and can be traced but say for example persons A and B each give some bitcoin to person C who then sends some bitcoin to person X. There is no way to trace which "bitcoins" that ended up with person C originated with person A because that's not the way the ledger works.
newolder wrote:purplerat wrote:newolder wrote:purplerat wrote:The point being that you wouldn't need to exchange your bitcoin because it wouldn't be "marked" so to speak by a transaction note.
All bitcoins are marked with transaction notes because that's what the blockchain is designed to keep track of. It's just that the record of the transaction notes now contains information deemed/legislated as illegal in some regions.Think of it like a memo on a check. If somebody cashes a check with a note in the memo field then gives you that cash, that cash is not somehow marked or tagged by that memo.
Do you understand that there is no such thing - physical, virtual, or otherwise - that represents 'a bitcoin' on a 1:1 basis or anything similar to that? It's not like a paper currency with a serial number that can track 1 exact pound or dollar as it changes hands.
I know, that's how I was confused by you thinking it was like a memo on a check.
newolder wrote:Transactions are recorded and can be traced but say for example persons A and B each give some bitcoin to person C who then sends some bitcoin to person X. There is no way to trace which "bitcoins" that ended up with person C originated with person A because that's not the way the ledger works.
and you'll be able to show where I said it did work like that...
All bitcoins are marked with transaction notes
purplerat wrote:newolder wrote:purplerat wrote:newolder wrote:
All bitcoins are marked with transaction notes because that's what the blockchain is designed to keep track of. It's just that the record of the transaction notes now contains information deemed/legislated as illegal in some regions.
Do you understand that there is no such thing - physical, virtual, or otherwise - that represents 'a bitcoin' on a 1:1 basis or anything similar to that? It's not like a paper currency with a serial number that can track 1 exact pound or dollar as it changes hands.
I know, that's how I was confused by you thinking it was like a memo on a check.
I referenced check memos because that is essentially what extra data we're talking about (i.e. child porn links) is. These are appearing in transaction notes which are essentially check memos.
newolder wrote:Transactions are recorded and can be traced but say for example persons A and B each give some bitcoin to person C who then sends some bitcoin to person X. There is no way to trace which "bitcoins" that ended up with person C originated with person A because that's not the way the ledger works.
and you'll be able to show where I said it did work like that...
you said this:All bitcoins are marked with transaction notes
There is a record of transactions of bitcoins but there is no such thing as a marked bitcoin because there really is no such thing as a bitcoin.
minininja wrote:purplerat wrote:Do you understand that there is no such thing - physical, virtual, or otherwise - that represents 'a bitcoin' on a 1:1 basis or anything similar to that? It's not like a paper currency with a serial number that can track 1 exact pound or dollar as it changes hands. Transactions are recorded and can be traced but say for example persons A and B each give some bitcoin to person C who then sends some bitcoin to person X. There is no way to trace which "bitcoins" that ended up with person C originated with person A because that's not the way the ledger works.
But for any of those transactions to take place at all they have to be recorded in the ledger, that people have to host, that we now know has something akin to "click here to see children being raped" permanently inscribed upon it.
I think that's a problem.
newolder wrote:purplerat wrote:newolder wrote:purplerat wrote:
Do you understand that there is no such thing - physical, virtual, or otherwise - that represents 'a bitcoin' on a 1:1 basis or anything similar to that? It's not like a paper currency with a serial number that can track 1 exact pound or dollar as it changes hands.
I know, that's how I was confused by you thinking it was like a memo on a check.
I referenced check memos because that is essentially what extra data we're talking about (i.e. child porn links) is. These are appearing in transaction notes which are essentially check memos.
The links are in the blockchain hosted by the user; they are not like check memos which can be destroyed without affecting the currency.
purplerat wrote:...
It could be wiped out without wiping out the currency. It wouldn't be easy but it's possible.
aban57 wrote:
This goes against everything (which is not much, quantitatively)I read about blockchain technology. I thought it was precisely the point that nothing could be deleted or altered, and that was the interest of the tech.
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