[EM] Fwd: A secure distributed election scheme based on Bitcoin's Proof-of-Work protocol

[Mike Frank]

Forgot to CC the group...

---------- Forwarded message ----------
From: Mike Frank <michael.patrick.frank at gmail.com>
Date: Sat, Jun 18, 2011 at 1:49 PM
Subject: Re: [EM] A secure distributed election scheme based on Bitcoin's
Proof-of-Work protocol
To: Jameson Quinn <jameson.quinn at gmail.com>


On Sat, Jun 18, 2011 at 1:14 PM, Jameson Quinn <jameson.quinn at gmail.com>wrote:

> And suppose bitcoin take over the intergalactic economy? Even if that's
> just a 1-in-a-billion longshot, each bitcoin is actually worth more than the
> entire solar system.
>

LOL, maybe so.  Or maybe the aliens have already invented it.   :)


> Sorry. Let's not discuss this here. The point here is whether bitcoin are
> cryptographically secure. I agree with you that they are, to >99%
> probability, against the combined efforts of all the bad guys, as long as
> they remain valuable. (The point is that as technology advances, that does
> not tend to reduce the good guys' advantage.) I also agree with Warren that
> it is impossible to eliminate risks - which I'd class as being on the order
> of 0.1% - such as a secret, dramatically improved algorithm or a temporary
> 51% takeover, and that it would therefore be unwise to make the consequences
> of such risks be catastrophic.
>

Well, I agree; I'm not going to put my entire life savings into it.

My point is just that, as an electronic currency, it's better than anything
we have now, in terms of being immune from getting devalued through
manipulation by powerful parties (such as banks and governments).  (Is the
probability that the US Gov't will eventually start hyperinflating the USD
as small as 0.1%?  Many think not...)

Likewise, an election system based on Bitcoin's protocols might similarly be
better than anything we have now, in terms of being immune from election
fraud, and not requiring trust of central authorities (election officials)
to count the votes properly.

Assuming, that is, that what we want is a "computocracy," rather than a
one-person-one-vote democracy...

-Mike
-- 
Full name:       Michael Patrick Frank
Email addr.:     michael.patrick.frank at gmail.com (pers. email)
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-- 
Full name:       Michael Patrick Frank
Email addr.:     michael.patrick.frank at gmail.com (pers. email)
Snail mail:      820 Hillcrest Ave., Quincy, FL,  32351-1618
Phone/voicemail: (413) 842-6670 (main number, uses Google Voice)
Webpage URL:     http://www.facebook.com/M.P.Frank (pers. profile)
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