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Problem: instead of having to sniff my servers' connections, an attacker (say, a government) can just download the blockchain - which is easily accessible - to have a list of everyone who has sent me email and everyone I've sent email to.

Besides, what's the point of the blockchain there anyway? Why not just have a distributed naming system (like namecoin) for the addresses and then simply integrate an MTA with the client, allowing simple P2P between users?

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