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I'm a big fan of bitcoin and a few altcoins, including some PoS. But I feel like you are understating bitcoin's security. It has been very well tested and has
by wyldfire 6y ago
I'm a big fan of bitcoin and a few altcoins, including some PoS. But I feel like you are understating bitcoin's security. It has been very well tested and has a large bounty - both in its market cap and value of transactions that have not been susceptible to any double-spend attacks.
Other coins might sound good on paper -- adding new features but introducing serious design errors that have yet to be discovered because they're not a big enough target.
- gnrlst 6y agoYou're right. But security today does not guarantee security tomorrow in a landscape where mining incentivizes economies of scale. The more mining power converges (as it is already doing), the more likely for a fewer entities to collude. While it may not be in their interest given their investment in the project, who says that a government or malicious actor might not?