4 ms·
No safeguard is foolproof, including protections against 51% attacks. That doesn't make the precautions pointless though. It's like saying locks are useless bec
by thebean11 4y ago
No safeguard is foolproof, including protections against 51% attacks. That doesn't make the precautions pointless though. It's like saying locks are useless because they can be picked.
- throwaway82652 4y agoSure but every blockchain I've seen make an effort to be decentralized has its "precautions" mostly in the form of an NGO that tries to manage the competing interests of every participant through various methods, to varying levels of success. A lot of them look suspiciously like unregulated credit unions or trust funds. There's that word "trust" again...
- thebean11 4y agoIncluding Bitcoin and Ethereum? Maybe I'm not sure exactly what you mean.
- ben_w 4y agoFrom what I’ve seen from LockPickingLawyer, I now think locks are only useful to help honest people know what not to take: https://youtu.be/ULUz4u5FLYg https://youtu.be/ULUz4u5FLYg
- FastEatSlow 4y agoAn interesting point from the LockPickingLawyer that I'd like to point out is that while many, many locks are easy to break if you're interested, it's still effort. Your average locker or bike thief isn't picking locks, they're just taking whatever's easiest.
- idontpost 4y agoI think that perspective is overblown. Yeah, anyone with the inclination to practice a bit can bypass a lock. You're not going to stop a professional burglary ring with any kind of lock. But there are a lot more lazy crackheads and dumb teenagers than professional burglars.