Merchants must be wary of their customers, hassling them for more information than they would otherwise need.
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With the possibility of reversal, the need for trust spreads.
While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model.
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments.
The longest proof-of-work chain as proof of what happened.
Nodes can leave and rejoin the network at will.
The network itself requires minimal structure.
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
Bitcoin: A Peer-to-Peer Electronic Cash System
Bitcoin is NOT future.
Bitcoin is present.
Bitcoin is confidence.
No compete.
No analog.
Competition is for weak.
WTF is human?
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