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Author Topic: Using economics to secure a blockchain  (Read 203 times)
race2tb
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June 11, 2017, 07:00:32 PM
Last edit: June 16, 2017, 06:48:40 PM by race2tb
 #1

The only thing keeping crypto going is the centralized financial system they wish to replace. If they decide they are no longer willing to facilitate the transfer of funds to exchanges or exchanges are ruled illegal, it all goes to 0. I turns out today's centralized financial systems are the ones securing today's public blockchains, not crypto, or decentralization. It really doesn't even matter how decentralized or crypto secure your blockchain is when economics are being used to secure it. The only way for a blockchain secured by economics to become impervious is to outright replace the centralized financial system, I do not see them allowing that to happen.
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June 11, 2017, 08:43:39 PM
 #2

Many accounts with less than 10 posts being ambitious with their observations of crypto these days.

It makes me wonder if this is what crypto subreddits are like. Those with limited experience making grandiose & extravagant claims?

So much doom and gloom from them. I wonder why?

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June 12, 2017, 04:44:49 AM
 #3

Many accounts with less than 10 posts being ambitious with their observations of crypto these days.

It makes me wonder if this is what crypto subreddits are like. Those with limited experience making grandiose & extravagant claims?

So much doom and gloom from them. I wonder why?

The OPs account is a newbie account,but that doesn`t mean that he is a newbie in the crypto community.
He might be an experienced user.
Everybody has it`s opinion and everybody is free to share it.
The blockchain and the cryptos are secured by people`s trust,not by the fiat financial system.
The blockchain can survive without exchange platforms, as long as there are miners who mine cryptos.


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June 12, 2017, 03:40:38 PM
 #4

Though it is theoretically possible to forcefully centralize any crypto currency, no one will do it in the present scenario. Rather it will be easy for governments to come up with their own form of national digital currency as Russia is rumored to be thinking of.

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