Neglecting all the crypto techs that gives bitcoin its security as well, the extraordinaer thing is the monster hashpower it has combined with the backing investments at stake that ensures (Game Theo spot on) all 'users' security.
Security is a matter of order and disorder.
It is very costly to acheive order in our universe ( lookup Shannon Entropy or physics thermodynamics)
This energy is actually spent all day to our bitcoin ensurance.
Lookup how big this is in real and compare it to any other (off-chain) crappy systems there are out for competition.
it is MAGNITUDES !!! I estimate 10^9 or higher.
Why the hack we restrict that power to run only 1MB blocks?
And let crappy stuff compete better?
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Next: In the software world, there are
1 Real users
Task: Come up with ideas, put it into requirements, contract devs, pay and implement, earn more money
2 Devs
task: build, fix bugs, beers
3 Trolls and Taxmen, and Hodlers
Who are 'We Users' in bitcoin? Most of us are 3, few are combination of 1,2 and 3.
Figure out, who is 1 and buy you a miner. 2: listen to 1.
Topic: Bitcoin on-chain security. Economics has given 'users' Monster Hashpower Network! (Read 208 times)
July 09, 2017, 05:04:15 AM
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