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double-spends are not that disastrous? You've go to be out of your mind. If your bank or credit card allowed you to double spend your account they would be out
by technofinance 13y ago
double-spends are not that disastrous?
You've go to be out of your mind. If your bank or credit card allowed you to double spend your account they would be out of business very very quickly. Same thing applies to cryptocurrencies.
- gwern 13y agoAre you sure you understand how double-spends in Bitcoin work? If you did, the right response would not be to double-down and engage in false dichotomies where a single double-spend of any transaction ever is a 100% disaster, and instead, adopt the more nuanced perspective that a few double-spends will not kill the currency, will save vast amounts of computational resources, and users can opt into however much security they require by waiting an appropriate number of confirmations.