If the whole concept is trustless decentralized (fill in the blank ???) profit, meaning that you can make currency or a timestamp or whatever else using blockchain,
and a sufficiently large force can basically fork off of an earlier block, race ahead in secret and then take over the currency or timestamps or whatever else the blockchain's about,
does this not render the replaced fork useless? As in, if it's money it doesn't count and you lost everything, if it's a timestamp it's not proof because it's not the blockchain anymore, etc?
I guess this is one way to make it so raw power is the only thing that matters, expressed as 'ability to marshal computer resources on a massive scale', which costs money and so it becomes circular. Power/money gives you power/money and so on. Given enough power/money you can simply take over Bitcoin: could be happening right now.
If the whole concept is trustless decentralized (fill in the blank ???) profit, meaning that you can make currency or a timestamp or whatever else using blockchain,
and a sufficiently large force can basically fork off of an earlier block, race ahead in secret and then take over the currency or timestamps or whatever else the blockchain's about,
does this not render the replaced fork useless? As in, if it's money it doesn't count and you lost everything, if it's a timestamp it's not proof because it's not the blockchain anymore, etc?
I guess this is one way to make it so raw power is the only thing that matters, expressed as 'ability to marshal computer resources on a massive scale', which costs money and so it becomes circular. Power/money gives you power/money and so on. Given enough power/money you can simply take over Bitcoin: could be happening right now.
Nice :P