With the bitcoin price drop articles like these have been popping up on HN quite frequently. previous discussion: https://news.ycombinator.com/item?id=16421383

With the bitcoin price drop articles like these have been popping up on HN quite frequently. previous discussion: https://news.ycombinator.com/item?id=16421383 https://news.ycombinator.com/item?id=16421383 What I feel has never been discussed is not whether blockchain or decentralization is a good idea rather how does decentralization will work? The issue is not whether immutability is bad idea rather how will it work in case of disputes? The only answer I keep hearing is - well, game theory can take care of it. This misses the point that if people are aware of the rules, they will find ways to break it. We saw a good example of how "we need 51% for manipulation" works in real life during Status ICO. F2pool which held 25% of the mining power was able to manipulate the ICO holding back ethereum transactions: https://steemit.com/ethereum/@dhumphrey/f2pool-manipulates-usd1-2-million-on-the-ethereum-blockchain-during-the-status-im-ico https://steemit.com/ethereum/@dhumphrey/f2pool-manipulates-u... It wont be long before people come to realize the rules and start exploiting it.