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On Thu, Mar 22, 2018 at 9:45 AM, Philip Hands phil@hands.com wrote:
I'd like to announce a revolution in data privacy. Individuals can take control of their data, and ensure that it doesn't leak into the hands of people that they don't want to have it.
Just install PGP.
hurrah! :)
so let's think about that case for a minute... PGP/GPG were designed for encrypting / signing static data. if that was all that was involved, crypto-currencies would have been replaced by people using PGP/GPG to sign static text files containing "money" or the digital representation of the same.
the difference then is that extra step - the guarantees of an "atomic transaction". so it's the combination of *both* factors: putting responsibility into individuals' hands (so that banks cannot literally empty your account if they so choose) *and* the atomic inviolate contract / transaction guarantees.
I'm pretty good at looking after my keys, and would not for instance need to revoke them if you stole my laptop, so am in a tiny minority.
yehyeh
Would I be willing to make my current account balance contingent on my not screing that up?
... did you hear about the banks in ... i think it was portugal italy, when they were going bankrupt they decided blithely to just... take peoples' savings. one pensioner actually committed suicide as a result.
they would almost have certainly done that with the blessing of the courts / government. so going to court would have no effect.
I think you can be sure that the people will fight viciously to avoid taking any sort of responsibility. See: Facebook & Cambridge Analytica.
i shouldn't laugh at that happening, but i can't help it.
l.