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It's worth noting that if the internet splits up into large pieces, the blockchain splits, and the coins will suddenly lose a lot of their value. That's because
by rhn_mk1 5y ago
It's worth noting that if the internet splits up into large pieces, the blockchain splits, and the coins will suddenly lose a lot of their value. That's because there's no telling which fork of the blockchain wins when there's a merge later. Double-spending galore!
- jazzyjackson 5y ago> there's no telling which fork of the blockchain wins That's the point of proof of work: longest chain wins. Yes in a netsplit you can spend on both chains, but you would need access to both chains to do so. And you don't even ever have to merge them again, there could just be AmericanBTC and RussianBTC from here on out.
- rhn_mk1 5y agoThe problem with keeping them separate is that there's no singular "you" who decides; there's no telling what will happen, causing an inherent uncertainty.