# Gavin Andresen
# 2010-08-06 23:32:05
# https://bitcointalk.org/index.php?topic=723.msg8013#msg8013

@s{quotedtext}
@s{quotedtext}
 @p{brk}
What happens when they disagree about which transaction happened first?  Majority rule?  Who decides what the majority is, and can it change if 4 of the five nodes leave the network and are replaced by another 5 nodes? @p{par}

And if I know that I'm going to create a large transaction, can I do some work precomputing node IDs such that the transaction (which I haven't yet sent out) will hash to nodes that I control?   If I control all the nodes storing the transaction, then I can just answer "yes, absolutely, that transaction is valid and hasn't been double-spent..." @p{par}

The brilliant insight behind bitcoin is the distributed timestamping mechanism; everybody agrees on an order of transactions.  I don't see how your scheme solves that problem. @p{brk}