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Completely trustworthy, because it has to be patched multiple times to fix security bugs. /s There is no such thing. The ledger number does not come with any o
by AstralStorm 5y ago
Completely trustworthy, because it has to be patched multiple times to fix security bugs. /s
There is no such thing. The ledger number does not come with any other warranty than amount of PC time used to compute it. It does not guarantee value, it does bot guarantee your transaction has fully proceeded, only that a specific amount of other number has been transferred.
- joshspankit 5y agoI’m confused by your pushback. Can you walk me through it?
- AstralStorm 5y agoMultiple blockchains including Bitcoin and Ethereum had to be forked to avoid perpetuating the state caused by exploited bugs or for other reasons. This implies that the state before the fork is untrustworthy, doesn't it?
- joshspankit 5y agoSo here’s my position on that: For the longest time I thought “when they crack the encryption, BTC will instantly turn to value-less dust” and so therefore thought it was limited to being of short-term use BUT the technology does not matter in a sense. Because the chain of ownership is clear and transparent, BTC (and other blockchains) could switch technology in an instant and still maintain the record of value. Through this lens, I’m not at all concerned about bugs or forks because we’ve reached a point where the majority of the network is focused on the absolute correctness of the ledger. Everything else might as well be a mosquito on the highway.