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> 51% attacks aren't effective because all they can do is double-spend coins, not arbitrarily reassign wealth. The only problem Bitcoin solves is double spendi
by runeks 9y ago
> 51% attacks aren't effective because all they can do is double-spend coins, not arbitrarily reassign wealth.
The only problem Bitcoin solves is double spending. Without this ability it’s worthless.
- akvadrako 9y agoThis is completely true. A blockchain that didn't prevent double spending could be both very efficient and support hidden transactions without any tricky math.