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"that's not an attack against the cryptography of the system" I am not sure what you mean. What do you think this is an attack against? "you can't use a poly
by betterunix 13y ago
"that's not an attack against the cryptography of the system"
I am not sure what you mean. What do you think this is an attack against?
"you can't use a polynomial-time algorithm to spend coins which belong to me."
In some situations I can. If, for example, you received your money from me, I can take the money from you and transfer it to someone else. The attacker can also stop you from completing transactions and stop you from receiving rewards for mining.
- maaku 13y agoAgain, I'm not sure I'd call a reiteration of the design criteria an attack or weakness of the system. Bitcoin was designed to operate by 51% proof-of-work consensus. It's a feature, not a flaw. It's kinda like saying democracy is broken because you could be unseated by a 51% vote.
- betterunix 13y agoThe difference between Bitcoin's vulnerability and democratic systems is pretty clear: in a democratic system, 51% of the participants control the outcome; in Bitcoin, a single participant doing 51% of the work can control the system. It is equivalent to allowing every single voter to fill out as many ballots as they can on election night, using whatever equipment they happen bring with them.