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Once you're confirmed on the Bitcoin network - you're immutable. This is completely unlike incumbent systems. Even in the case that Bitcoin 'went down' the acco
by brighton36 11y ago
Once you're confirmed on the Bitcoin network - you're immutable. This is completely unlike incumbent systems. Even in the case that Bitcoin 'went down' the account information isn't changing. Risk is normalized under a huge swath of actors from across the world who are burning energy to attest to truth. As opposed to a single company who has complete authority over the data and/or value.
- fweespeech 11y agohttp://www.coindesk.com/double-spending-risk-bitcoin-network-fork/ http://www.coindesk.com/double-spending-risk-bitcoin-network... etc
- brighton36 11y agoThese issues are fairly rare, and in this case, it was due to some miners who did not upgrade their bitcoind (when everyone was made very clear that there were a number of large changes). Bitcoin is a WIP. If you're not a wizard, use a bank such as coinbase or circle who will happily insure you against such rare events.
- fweespeech 11y agoI highly doubt Coinbase can insure $5-10 million dollar transactions which is what the OP is used for.