Comment Re:bad design (Score 1) 100
FTA: "The value of each coin will be completely subjective, depending on who creates the coin and why."
I don't think this has a problem with double-spending, because it has no actual value.
This has almost no resemblance to "currency" in any meaningful sense, and calling it such amounts to nothing short of deceptive. This looks more like a formalized system of LinkedIn endorsements, except still with the same underlying flaw that your technophobe mother can "endorse" your 133t Perl scripting skills. Or perhaps in the best case, it amounts to a built-in certificate of authenticity for things like celebrity signatures on books or baseball cards.
Bitcoin doesn't need to worry about the competition.
I don't think this has a problem with double-spending, because it has no actual value.
This has almost no resemblance to "currency" in any meaningful sense, and calling it such amounts to nothing short of deceptive. This looks more like a formalized system of LinkedIn endorsements, except still with the same underlying flaw that your technophobe mother can "endorse" your 133t Perl scripting skills. Or perhaps in the best case, it amounts to a built-in certificate of authenticity for things like celebrity signatures on books or baseball cards.
Bitcoin doesn't need to worry about the competition.