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Author Topic: Wiping all copies of bitcoin blockchain VS bank's database  (Read 4531 times)
oakpacific
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November 15, 2013, 03:39:24 PM
 #41

It's just not possible. As long as there's a single copy of the blockchain anywhere, on any hard drive in the world, the network will rebuild itself, even if every other node had been destroyed. It may seem unsettling, but there is actually nothing that can stop it, short of 'turning off the internet', which is of course impossible, since the internet itself was designed to reconfigure itself in the face of any disruption.

Bitcoin must prevail, its code does not permit any other outcome.

A single copy of the blockchain is open to manipulation.

Not really, you need hundreds of millions of dollar of hardware and electricity to work months for you to recreate another one.

Except for the latest few weeks or maybe a month, most miners could recreate most of the early stuff with ease. Especially if you have a farm.

Remember the last blockhash of a recent date and you will really give them some big headaches.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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callem
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November 15, 2013, 05:04:53 PM
 #42

It's just not possible. As long as there's a single copy of the blockchain anywhere, on any hard drive in the world, the network will rebuild itself, even if every other node had been destroyed. It may seem unsettling, but there is actually nothing that can stop it, short of 'turning off the internet', which is of course impossible, since the internet itself was designed to reconfigure itself in the face of any disruption.

Bitcoin must prevail, its code does not permit any other outcome.

A single copy of the blockchain is open to manipulation.

Not really, you need hundreds of millions of dollar of hardware and electricity to work months for you to recreate another one.

Yes. Satoshi's paper is right there at bitcoin.org - surprising how few people seem to have actually read it.

HAL: "Dave, this conversation can serve no purpose anymore. Goodbye. "

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November 15, 2013, 09:41:14 PM
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Bitcoin must prevail, its code does not permit any other outcome.

That's a great quote +1

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