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Right, so you're trusting the miners. Got it.
by tcoppi 9y ago
Right, so you're trusting the miners. Got it.
- bsurmanski 9y agokind of. But the miners have a financial incentive to follow the system. The system is built in such a way that it's in their best interest to follow the system (except in a coordinated 51% attack, then the system falls apart).
- solatic 9y agoWhich is the same thing as saying that you are trusting that miners will be motivated by the financial incentive. That's a generally sane reason to trust the miners, but the truth is, the mining nodes are controlled by people, and people can be motivated by many things other than money, including fear of people with much political power.