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That sounds like any bank. Computer systems as the source of truth for billions of dollars of assets is not new.
by lunaru 9y ago
That sounds like any bank. Computer systems as the source of truth for billions of dollars of assets is not new.
- hoodoof 9y agoI think bitcoin attracts more hacker attention than banks.
- will_hughes 9y agoBanks have the advantage that if they see a huge spike in their outbound inter-bank transfers they can suspend traffic while they investigate it, and then if necessary call up the recieving bank(s) and issue a freeze on those funds. There's already established relationships and agreements for these things. With a cryptocurrency there's nobody to call, you have to convince 50% + 1 of the mining pool to undo any major breach - which is almost certainly never going to happen.