Hacker News new | ask | show | jobs
by coralreef 2983 days ago
A bitcoin exchange is not a decentralized system. It is a centralized one.

We are discussing the security of decentralized systems, aka the blockchain.

1 comments

If only such decentralized systems could exist in vacuum!

The thing about security is that you just need to exploit one weak link in the chain.

Isn't that the exciting thing about Bitcoin/blockchain? In the future, it is theoretically possible to live life and to conduct all commerce through cryptocurrencies.

The thing about security is that you just need to exploit one weak link in the chain.

Again, we're talking about decentralized systems as a whole. Individuals can be targetted/phished/scammed in any system. What is the weak systematic link in Bitcoin that can be exploited?