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Again, 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 cons
by maaku 13y ago
Again, 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.