

A Bitcoin-like solution for Greece - mazsa
http://www.cnbc.com/id/102663713

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notahacker
This is a worryingly incoherent argument from someone that apparently runs a
macro fund.

The suggestion that Greece creates some kind of financial asset tradeable at
par with the Euro for future tax repayments is a reasonable - if not
uncontroversial - proposal to help them with the immense problem of not being
able to print any of the Euros they need, even when inflation is the least of
their concerns.

The suggestion they do so using "blockchain technology"; a means of
distributing assets so computationally expensive that transactions are
possible only because it giving away free assets to people willing to lend
processor hours to the "mining" is ridiculous. Especially when the article
opens by pointing out they need to make a 750M Euro payment _next week_ , and
the entity that needs the revenue _is_ a centralised monetary authority.

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markvdb
Implemented right, a government verifiable block chain might be a cheap way to
get the people of Greece to pay taxes.

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gaius
Verified _by whom_? The Greek tax authorities?

~~~
markvdb
It might be enough to have the verifiability feature of this blockchain widely
advertised to scare users a bit at least...

