2 ms·
"We’ve seen forked chains, theft, mysteriously reversed transactions, 51% attacks." Citations? Forks are not actually a bug. Theft because of "cryptographic we
by kkjjkgjjgg 5y ago
"We’ve seen forked chains, theft, mysteriously reversed transactions, 51% attacks."
Citations? Forks are not actually a bug. Theft because of "cryptographic weakness" has not happened so far, afaik? Neither have reversed transactions, and I am not aware of successful 51% attacks on Bitcoin?
I'm sorry but I don't think that author has a good understanding of Bitcoin.
He has a point about government attacks. We don't really know yet what will happen if governments simply try to stomp out crypto. For sure market prices would take a hit at first, as they did when China tried to curb crypto.
- Sammi 5y ago> He has a point about government attacks. We don't really know yet what will happen if governments simply try to stomp out crypto. For sure market prices would take a hit at first, as they did when China tried to curb crypto. We've just seen what happens when China banned it as you mention. The price took a dip and then recovered. It game theory. Classic Prisoners Dilemma. Everyone else just gets a higher incentive to use it when some part of the world is not allowed, because everyone else gets a higher advantage. Especially Americans will jump all over it if the communist ban it. That just completely legitimizes it for anti communist Americans.
- ngc248 5y ago>>> Especially Americans will jump all over it if the communist ban it. That just completely legitimizes it for anti communist Americans. That may lead to an even worse outcome. The CCP may be able to do a 51% attack on BTC since a majority of the mining ops were in china.