14 Jul
2014
14 Jul
'14
2:11 p.m.
Warren Smith wrote:
Chaum (subject to reasonable conjectures) had that property. Bitcoin, on the contrary, has the property that I can steal your money by simply outcomputing you, and with no need for me to exponentially outcompute you.
No, you can only steal my money if you can outcompute the sum of the rest of the world's computing power. And if you can do that, then you may as well just mine bitcoins instead, as your profit will be substantially greater. Sincerely, Adam P. Goucher