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If double-spend detection rather than prevention was enough, you could build a much cheaper and more efficient payment system than Bitcoin. What makes Bitcoin
by VMG 9y ago
If double-spend detection rather than prevention was enough, you could build a much cheaper and more efficient payment system than Bitcoin.
What makes Bitcoin interesting is the fact that you don't have to resort to the legal system for final arbitration.
- gizmo686 9y agoBitcoin still succeeds in making double spend attacks expensive. If I am selling pizza's at $10 a piece, I am not going to go after someone for a double spend attack. Attackers know this and so would be more willing to engage in this type of attack, possibly often enough for me to drop the proposed system entirely. If I am engaged in a $100,000 transaction, I would definitely be willing to sue you. Not to mention the fact that a double spend attack still involves a large capital investment, greatly limiting the number of people capable of pulling it off.