October 11, 2017

SAM Scientific Argumentation Model of Bitcoin

SAM of bitcoin.org/bitcoin.pdf

We first present the different parts, before constructing the graphical representation of SAM (Scientific Argumentation Model) (based on sheets 21-23 ).



Why was the research done

  • “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
  • “no mechanism exists to make payments over a communications channel without a trusted party.”


Aim of the research

We propose a solution to the double-spending problem using a peer-to-peer network.


Main Conclusion

The main outcome of the research

We have proposed a system for electronic transactions without relying on trust.


What are the consequences of the research


Statements which weaken the Main conclusion

  • a. “If two nodes broadcast different versions of the next block simultaneously, some nodes may receive one or the other first.”
  • b. “If a greedy attacker is able to assemble more CPU power than all the honest nodes”
  • c. “the simplified method can be fooled by an attacker’s fabricated transactions”
  • d. “The traditional banking model achieves a level of privacy by limiting access to information to the parties involved”
  • e. “linking could reveal other transactions that belonged to the same owner.”


Statements which weaken Counterarguments

  • a. “The tie will be broken when the next proof-of-work is found and one branch becomes longer”
  • b. “it more profitable to play by the rules”
  • c. “download the full block and alerted transactions to confirm the inconsistency.”
  • d. “public can see that someone is sending an amount [..] similar to the level of information released by stock exchanges”



Data and data interpretations or other literature used by authors to justify their Main conclusion

  • “The proof-of-work also solves the problem of determining representation in majority decision making.”

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