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A door-and-lock is a single-agent system and therefore isn't a good analogy. Money always needs social consensus. In a blockchain, you're relying on others agre
by mathnmusic 5y ago
A door-and-lock is a single-agent system and therefore isn't a good analogy. Money always needs social consensus. In a blockchain, you're relying on others agreeing on a certain history. That society can decide to disagree with you and consider a different history as truth. It has happened multiple times on Ethereum and Bitcoin both.