You are viewing a single comment's thread.

view the rest of the comments →

0
3

[–] go1dfish 0 points 3 points (+3|-0) ago 

It gets its value the same way beanie babies do. People demand them.

The difference is that the supply is mathematically limited in a way that cannot be centrally gamed.

Also bitcoin as a network/currency has much more utility than beanie babies, like killing the fed in the long term.

1
0

[–] Cantilever [S] 1 point 0 points (+1|-1) ago 

Except the white paper admits that the entire system depends on the majority of nodes being run by "honest" miners

You think most miners are honest today?

0
2

[–] go1dfish 0 points 2 points (+2|-0) ago 

It depends on a majority of the hashing power to be not in collusion to do nefarious things.

The idea is to make it prohibitively expensive to attack the network, but it's true that it isn't impossible.