# Gavin Andresen
# 2011-05-11 15:56:05
# https://bitcointalk.org/index.php?topic=7945.msg116042#msg116042

If I were going to implement it...  hmm... @p{par}

I think I'd just special-case the genesis block, so it has a value out of, oh, I dunno, 20 million CompleCoins.  Then maybe fix the mining reward to something small and constant (say 0.001 CompleCoin per block, forever@p{--} or whatever you like). @p{par}

The central authority would create the genesis block, and so would have 20 million CompleCoins that it could issue (aka spend) however it pleased. @p{par}

The risk would be the central issuer ever losing control of its wallet/private key.  That risk could be mitigated a little bit by occasionally changing the key by spending all of the non-issued coins to a new address in a new, secure wallet somewhere and waiting a few blocks for confirmation. @p{par}

I'm having lunch today with somebody else who is interested in using bitcoin tech for a centrally issued alternative currency, so I've been thinking a bit about it... @p{brk}