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The same way you do it with computers: avoid central control. Central control is fragile, non scaleable (and promotes corruption when human beings are involved)
by magoghm 18y ago
The same way you do it with computers: avoid central control.
Central control is fragile, non scaleable (and promotes corruption when human beings are involved).
- harshavr 18y agoSelf-fulfilling rumours which trigger bank runs can be a distributed phenomena, no one person needs to engineer it. It just needs to start somehow. More importantly, it is possible that most people are wrong on some particular question about a market. If so, a sudden discovery of the truth by the mainstream might lead to a desertion of this market.
- 0x44 18y agoSelf-fulfilling rumours which trigger bank runs can be a distributed phenomena If we were to get rid of the physical token of our monetary value, it would be impossible for a run in one bank to negatively effect all of them. After all, an electronic 'withdrawal' has to go somewhere.