> Because if somebody can spend $1mln to perform 51% attack and move around $1bln, that will likely be done. This attack allows double spending and censorship.

> Because if somebody can spend $1mln to perform 51% attack and move around $1bln, that will likely be done. This attack allows double spending and censorship. It does not allow to directly steal someone's BTC. > Also, when a bank charges me 1% for a wire transfer, they pay salaries from that money and some people buy food. And horses are pissed at cars. > The power burnt by BitCoin is actually literally immediately irrecoverably physically wasted. No, it is not. It buys security in a way which traditional banking is not capable of providing.