Sigh - Confirmation times are not reduced by more miners, more miners = higher difficulty. - Coins can be double spent before confirmations, see https://en.bi

Sigh - Confirmation times are not reduced by more miners, more miners = higher difficulty. - Coins can be double spent before confirmations, see https://en.bitcoin.it/wiki/Double-spending https://en.bitcoin.it/wiki/Double-spending. Also re security n.b. the 51% attack. - The reward for solving a block is the major incentive to mine: 25 BTC reward at ~$1000. Mining costs money, what is the incentive to mine without that $25k? Spoiler: more fees.