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by zodiac
3083 days ago
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If that's your definition, I could say that my Bitcoin is backed by mathematics and proof of work because "violating" the rules (by taking my coins without my consent) requires either guessing my secret key or mounting a 51% attack on the whole network |
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And I don't have to guess your secret key -- I just have to steal your computer. Even if I get caught stealing your computer and have to give it back, if I've already compromised your wallet and moved the coins, there is nothing you can do to get them back.